FOR IMMEDIATE RELEASE

The MBA Exchange® announces industry's first
independent, CPA-verification of performance
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Success rate exceeding 90% confirmed by member firm of BDO Seidman alliance

Chicago, June 3, 2004 - The MBA Exchange, a leading provider of admissions consulting services for applicants to top business schools, today announced that its client success rate has just been confirmed by an independent CPA firm. This is the first time that any MBA admissions consultant has documented its results for publication to current and prospective clients.

Daniel Bauer, managing director and founder of The MBA Exchange, noted, "We are extremely proud to share this independent verification of our consulting effectiveness. Since 1996, we've achieved a consistently high success rate, exceeding 90% in recent years, helping applicants successfully apply to top business schools. At the same time, some other admissions consulting firms have been making very bold but unverified claims of comparable success rates. As a result, MBA applicants found it impossible to objectively compare consulting firms and make an informed choice.

"As the industry leader," Bauer added, "The MBA Exchange took the initiative to engage an independent public accounting firm to confirm our numbers. The investment was a substantial one, but we are very gratified by the outcome. In addition to offering the most comprehensive service in the marketplace, our success rate now sets the benchmark for MBA admissions consulting."

"Equally important," explained Bauer, "feedback from our admissions clients continues to recognize the strategic and tactical value that we add. It's not only the superior results we achieve, but also the way we achieve them that continues to distinguish The MBA Exchange in the eyes of applicants."

Independent accountants reviewed The MBA Exchange's financial records and written confirmations from clients to verify a success rate exceeding 90% for the 2004 application season. The CPA firm that completed this rigorous verification process is a member of the BDO Seidman alliance, one of the biggest and most respected names in public accounting. BDO Seidman was founded over 90 years ago. Today, BDO International is the fifth largest accounting and consulting organization in the world with nearly 600 independent member firm offices in over 99 countries. For more information about the BDO Seidman alliance, visit BDOSeidman.com.

Founded in 1996, The MBA Exchange takes a comprehensive, strategy-driven approach to the application process. Consultants are experienced graduates of top business schools including Harvard, Wharton and Stanford. The firm counsels applicants on all aspects including credentials assessment, school targeting, application strategy and essay development. Written verification of performance is available to clients and qualified prospects upon request. For more information about The MBA Exchange, visit MBAExchange.com.