VCampus Announces 5 New Clients and 4 Contract Renewals

October 11, 2001

VCampus (Nasdaq:VCMP – news) announces the addition of 5 clients to its diverse customer base, as well as the renewal of 4 existing customer contracts. The addition of these customers, as well as the continued retention of the existing client base, provides strong support for VCampus’ fully outsourced, content-neutral e-Learning solution.

The new clients announced by VCampus include organizations from a mix of industries, illustrating the broad appeal of VCampus’ services. For example:

  • VCampus signed a new agreement with a large division of a $9.3 billion truck manufacturer. VCampus will serve the online learning needs of the 700 employees in the division, with an initial contract length of one year.

  • VCampus has signed a contract to serve as the online learning solution for a leading provider of HVACR (heating, ventilation, air conditioning, and refrigeration) education. This client currently is the market leader in classroom-based HVACR-related instruction. The agreement with VCampus enables this client to develop and deliver online courses to serve their existing customers. In addition, these organizations can together offer these important courses to the more than 500,000 students using the VCampus platform today.

  • VCampus has added a $400 million maker of phone systems, telephony equipment and related software to its growing client base. Building on the VCampus’ long experience serving the telecommunications industry, VCampus will serve the company’s needs for online learning enabling its employees to increase their skill base quickly and cost-efficiently, as well as deliver online learning to all of its 250,000+ customers.

  • Building on its momentum in the federal government market space, VCampus has added a new federal government agency to its growing list of federal agencies procuring their online learning needs from VCampus.

The four renewals announced by VCampus also represent a broad mix of customers: two corporate customers, one institution of higher education and one government institution.

“Additions and renewals of clients from industries as diverse as these strengthens VCampus’ position as the leading full-service e-Learning solution provider,” said Daniel Neal, President and CEO of VCampus. “VCampus is very pleased to continue our business relationships with these organizations, and we will continue to help them provide world-class e-Learning solutions to their employees, customers and distributors that are successful and cost-effective.”

Says Randy Saari, Senior Vice President of Worldwide Sales at VCampus, “These wins illustrate the value provided by VCampus. We offer a complete package – a Learning Management System, a Courseware Delivery Engine and an Online Courseware Construction tool. In addition, we offer our clients experience, superior customer service and the competitive advantage of offering more than 4000 web-based courses to our customers.”

About VCampus

VCampus® Corporation (Nasdaq: VCMP – news) is the leading provider of end-to-end eLearning solutions. The company develops, manages and hosts turnkey, web-based learning solutions for corporations, government agencies and higher education institutions. VCampus enables these organizations to offer complete global distance learning solutions to their customers, employees, distributors, suppliers and students. VCampus’ e-Learning solutions are designed to help clients deliver higher education programs to adult students; improve the performance of their distribution channels and suppliers; measure and develop their employees’ knowledge, skills and abilities; and increase their customers’ satisfaction and loyalty. VCampus distributes a courseware library of more than 4,150 web-based courses and has delivered more than 2 million courses to over 503,000 adult learners. VCampus Corporation is headquartered in Reston, VA. For more information, call 800-915-9298, or visit the VCampus website at “VCampus” is a registered trademark of VCampus Corporation.

This press release contains forward-looking statements within the meaning of the federal Private Securities Litigation Reform Act of 1995. Statements contained herein that are not statements of historical fact are forward-looking. Without limiting the foregoing, references to future growth or expansion are forward-looking, and words such as “anticipates,” “believes,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “should,” “will,” and “would” and other forms of these words or similar words are intended to identify forward-looking information. You should read statements that contain these words carefully because they discuss our future expectations, contain projections of our future results of operations or of our financial position or state other forward-looking information. There might be events in the future that we are not able to predict accurately or control, and any forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially. These risks and uncertainties include: (1) our history of losses and our need to raise additional capital; (2) the ability to recruit and retain qualified technical and other personnel in a highly competitive market; (3) market acceptance of our new and future products; (4) growing competition; and (5) our ability to maintain and manage our growth. For additional information regarding risk factors that could affect our future results, please refer to the discussions of “Risk Factors” in our Form 10-K for the year ended December 31, 2000, filed with the SEC on April 2, 2001, and our Form S-3 Registration Statement filed on May 2, 2001, and other SEC filings.