COMPSolutions PEO Named a Semi-finalist for
“New Jersey Family Business of the Year Award "

Prestigious awards program acknowledges the significant contributions to the
economy and community made by New Jersey family businesses

Oakland NJ – October 26, 2005 — COMPSolutions PEO, one of the tri-state area’s leading Professional Employer Organizations, was recently named a semi-finalist in the category of family-owned businesses with annual sales up to $10 million. Now in its thirteenth year, the Family Business of the Year program honors family businesses whose innovative strategies and business practices have had a positive impact on the state and local economy. Sponsors include the Rothman Institute for Entrepreneurial Studies at Fairleigh Dickinson University, PNC Bank, PricewaterhouseCoopers LLP and New Jersey Monthly magazine, among others. At the awards luncheon on October 19th, James C. Barrood, Executive Director of the Rothman Center for Entreprenuerial Studies, reflected on the fact that family businesses play a vital role in our economy, making up to 90% of the nation’s economy. Just as important as the business decisions are the family values, traditions and visions that have helped to build this country and shape the society in which we live.

"It is truly an honor to be chosen as a semi-finalist from among the many excellent companies nominated for this award," said Thomas J Cioffe, COMPSolutions PEO's Chairman and CEO. "Eight years ago, we opened for business with a small group of committed family members. The COMPSolutions team has now grown to seventy members and – while all are not family in the true sense - each person plays a key role in the success of our business.” COMPSolutions PEO has claimed several other awards, including being named as a New Jersey finalist four years in a row for the Ernst & Young Entrepreneur of the Year® (“EOY”) award. The EOY program recognizes a select group of entrepreneurs whose ingenuity, hard work and perseverance have created and sustained successful, growing business ventures; entrepreneurs who represent the dynamic, resilient and innovative spirit of New Jersey’s diverse business community.



About the Rothman Institute of Entrepreneurial Studies

The mission of the Rothman Institute of Entrepreneurial Studies at Fairleigh Dickinson University is to foster entrepreneurship in the academic and business communities. Since 1989, the Institute has been supporting entrepreneurship by offering innovative academic and outreach programs on the local, regional and global levels. An outstanding entrepreneurship curriculum taught by an excellent faculty has helped to make the academic program one of the finest in the nation.


About the Family Business Forum

The Rothman Institute of Entrepreneurial Studies established the Family Business Forum in 1992 to support family businesses. The Forum is designed around outcome-oriented educational programs and seminars, and provides family businesses in the metropolitan area with the opportunity to learn from leading experts on issues related to owning and operating a family business. The Forum also provides members with the opportunity to exchange ideas and learn from one another’s shared experiences. Programs are designed to foster maximum interaction and participation by addressing issues of specific concern to those in attendance. The members-only environment results in long-term relationships based on mutual trust and understanding, which fosters open communication among members regarding both family and business issues.

Each year the Institute coordinates with other corporations and sponsors the “New Jersey Family Business of the Year Awards” which recognizes the finest family businesses in the state.


About COMPSolutions PEO

COMPSolutions 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, COMPSolutions PEO allows its clients to focus on their core competencies to maintain and grow their bottom line. COMPSolutions’ headquarters is located in Oakland, NJ with offices in Upper Saddle River and Manhattan. For additional information, please visit our website at www.compsolutionsinc.com.

FOR IMMEDIATE RELEASE
CONTACT: Patricia Basilo
201-405-1115
       pbasilo@compsolutionsinc.com