BenefitStreet Strengthens Board With Key Additions

Marc Blum, Laurence Hootnick and Sanford Rich Elected to Board of Directors

SAN RAMON, Calif.--(BUSINESS WIRE)--BenefitStreet, Inc. announced today that the Company has elected Marc P. Blum, Laurence R. Hootnick and Sanford R. Rich to its Board of Directors.

“Marc, Larry and Sandy bring an incredible amount of experience, intelligence and strategic insight to BenefitStreet’s Board”

Mr. Blum is CEO of World Total Return Fund, LLLP, a private mutual fund. He is a member of the Board and Chairman of the Audit Committee for both Legg Mason Investment Counsel & Trust Co. and Rodney Trust Co. He chairs the Pricing Committee for the Davis New York Venture Fund and 11 other Davis Group mutual funds. He is also an attorney of counsel with Gordon, Feinblatt, Rothman, Hoffberger & Hollander, LLC, in Baltimore, MD. Mr. Blum holds a B.A. in Economics from Yale University, an LL.B. from Columbia Law School, a Ph.D. from Columbia Business School, and is a C.P.A. (Maryland).

Mr. Hootnick is a General Partner with Acuity Ventures in Palo Alto, California, and is a highly successful Silicon Valley executive with over 30 years of experience in leading high-growth private and public enterprises. He previously held positions at Intel Corporation as Senior Vice President of Finance and Administration, Senior Vice President of Worldwide Sales and Marketing, and President of the Embedded Control and Memory Group. Mr. Hootnick also served as President and CEO of both Maxtor Corporation and Consilium Corporation. He holds a B.S. in Industrial Management from M.I.T. and an MBA from the University of Maryland.

Mr. Rich is Principal and Senior Vice President Investments for GEM Capital Management, Inc. and is responsible for analysis and management of financial assets for the benefit of pension funds, insurance companies, foundations, states and individuals. He is a member of the board of directors for Health Benefits Direct and Customer Acquisition Network. He is the Chairman of the Executive Committee and, until January 2008, was Chairman of the Audit Committee of Health Benefits Direct. Previously, he was a Managing Director at Citigroup Securities, Inc., as well as a Managing Director with Merrill Lynch Capital Markets. Mr. Rich holds a Bachelor of Science degree in Finance/Operations Research from Case Western Reserve University, and an MBA in Finance from New York University, Stern School of Business.

The three new additions round out an impressive Board group that includes the following members: Alison Davis, Managing Partner with Belvedere Capital and former CFO at Barclays Global Investors; Henrik Vanderlip, Chairman of Viking Capital Partners, Inc. and former Partner with Wesray Capital Corporation; Nick Stonnington, President of the Stonnington Group, LLC, and former senior executive with Merrill Lynch; Jerry Bramlett, BenefitStreet President and CEO and former founder/CEO of The 401(k) Company; and Alex Hehmeyer, BenefitStreet Chairman and former Managing Director & CFO with Richard C. Blum & Associates.

“Marc, Larry and Sandy bring an incredible amount of experience, intelligence and strategic insight to BenefitStreet’s Board,” said Bramlett, who was named as BenefitStreet’s President and CEO earlier this month. “They’re also key investors in the Company, have a strong understanding of our business model and technology, and recognize the compelling opportunities within our market. I look forward to working closely with each of them.”

About BenefitStreet

BenefitStreet is a pioneer in the creation and delivery of innovative solutions for corporate benefits, and is constantly improving the way corporations provide and manage benefits. As a leading independent, unbundled provider of 401(k) recordkeeping solutions and administrative services, BenefitStreet is committed to improving the value of benefits to employees while reducing the complexity and cost businesses face in offering those benefits. Founded in 1993, BenefitStreet serves more than 6,500 corporate clients from its headquarters in San Ramon, Calif., and several locations throughout the United States. For more information, please visit www.benefitstreet.com.