COMPENSATION SOLUTIONS PRESIDENT AND CEO
THOMAS J. CIOFFE NAMED AS FINALIST FOR 
NEW JERSEY’S ENTREPRENEUR OF THE YEAR® AWARD

Business Leadership Award is 
Nation’s Most Prestigious Honor For Entrepreneurs

Oakland, New Jersey – May 20, 2005 Compensation Solutions, Inc. (“Compensation Solutions”), one of the tri-state area’s leading Professional Employer Organizations (PEO), today announced that Thomas J. Cioffe, President and CEO, has again been selected as a finalist for New Jersey’s 2005 Ernst & Young Entrepreneur of the Year® (“EOY”) award. This is Mr. Cioffe’s fourth nomination and designation as a Finalist for an unprecedented fourth straight year. New Jersey award recipients are selected by a panel of independent judges comprised of area leaders from business and civic organizations. 

Now in its 19th year, the EOY program recognizes outstanding entrepreneurial achievements.
“For nearly two decades, Ernst & Young has been recognizing outstanding entrepreneurs for their remarkable leadership and successful accomplishments, “ said Keith Brownlie, Co-Director for the Ernst & Young EOY program in New Jersey. Past winners include Kenneth Freeman of Quest Diagnostics, Gedalio and Efraim Grinberg of Movado Group, and Glenn Cohen of YHD Foxtons. These business leaders exhibit the imagination, courage and perseverance it takes to create and sustain successful, growing business ventures. They are true visionaries who are able to take challenges and turn them into opportunities. 

Compensation Solutions is a professional employer organization that provides professional human resource management services to small to mid-sized businesses. These services include cost effective solutions for the soaring costs of employee benefits packages; professional risk management tools such as up-to-date employee handbooks, policies and procedures and record retention services to ensure that employers are in compliance with state and federal laws; professional claims management; customized payroll; recruitment, training and retention services and professional advice on employee compensation and retirement planning. 

Commenting on his nomination, Tom Cioffe said, “I am very honored to be considered for such a prestigious award and to be placed in the company of nominees who represent the best of the business community in New Jersey. Much of the credit goes to my team of Human Resource professionals for their hard work, their dedication to client service and their commitment to the continued growth and development of our PEO program.” 

About Ernst & Young

Ernst & Young, a global leader in professional services, is committed to restoring the public’s trust in professional services firms and in the quality of financial reporting. Its 100,000 people in more than 140 countries around the globe pursue the highest levels of integrity, quality and professionalism, providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax and transactions. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/us/perspectives. Ernst & Young refers to all the members of the global Ernst & Young organization.

About the Entrepreneur of the Year Program

The Entrepreneur of the Year® (EOY) awards program was created in the United States in a single Midwestern city by Ernst & Young in 1986 to honor entrepreneurs whose ingenuity and perseverance have created and sustained successful, growing business ventures. Today, EOY Has been expanded to more than 115 cities in 35 countries with awards presented to over 900 of the world’s most successful and innovative entrepreneurs.

About Compensation Solutions

Compensation Solutions is a leading professional employer organization (PEO) that serves as a full-time outsourced human resource partner for small and mid-sized businesses throughout the tri-state area and the United States. By managing employee benefits, human resources, payroll and workers’ compensation administration, Compensation Solutions allows its clients to focus on their core competencies to maintain and grow their bottom line. Compensation Solutions’ headquarters is located in Oakland, New Jersey with offices in Manhattan. For additional information, please visit the Compensation Solutions website at www.CompSolutionsinc.com.