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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Exult Placement Raises $60 Million

February 23, 2000

Exult Inc., an Irvine provider of Web-based human resources and back-office process management services, said Tuesday that it has sold about $60 million of preferred stock in a private placement.

Investors include DB Capital Partners, Goldman Sachs, Mellon Ventures and six affiliates of the Hillman Co. General Atlantic Partners, Exult's founding and majority shareholder, assisted in placing the financing.

With the transaction, Exult has raised about $125 million to date. It is using the proceeds to hire employees and build the plant needed to deliver its management services.

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