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Freeborders Names Jean Cholka President and CEO

SAN FRANCISCO--Freeborders, a leading provider of technology solutions and outsourcing from China, announced today that Jean Cholka has been named President and Chief Executive Officer. Cholka most recently was a member of the executive team at Kanbay International, the highly successful global IT services consultancy based in Chicago with large delivery centers in India.

"Jean brings a tremendous track record of proven leadership and expertise in expanding a global outsourcing operation," said John Cestar, Chairman and Founder of Freeborders. "Jean's extensive experience will enable her to leverage Freeborders' strong foundation, innovative technology development platform and talented team to successfully lead the company in its next phase of development."

During Cholka's seven years at Kanbay, she held various executive positions including, President-North America, Executive Vice President-Global Client Relationships and Chief People Officer. Key business accomplishments at Kanbay included helping the company achieve a 200% increase in revenue within four years, while increasing profitability by 15%. Kanbay was named in the top 100 (55th) information technology employers in 2004 and top 10 IPOs in 2004. Prior to Kanbay, Cholka held a variety of executive positions at Sears, Roebuck and Company and Ameritech (now part of AT&T).

"I am delighted to be joining Freeborders, a company that has established itself as a high quality provider of application outsourcing, business process, and consulting services while delivering superior cost and time savings over the competition," said Cholka. "I look forward to working with John and the entire Freeborders' team; I believe that the accomplishments and lessons learned in my previous management roles will lend themselves well to helping Freeborders continue to accelerate its expansion."

About Freeborders

Freeborders is a leading provider of technology solutions and outsourcing from China. Freeborders provides industry expertise to North American and European companies in financial services, technology, retail/consumer goods, manufacturing, transportation and logistics. Headquartered in San Francisco with offices on three continents, Freeborders has developed a track record of service delivery to the Fortune 1000 by combining world-class project management in both hemispheres with one of the largest technology centers in China. Freeborders believes China's massive and growing supply of IT talent and the country's emerging importance in the global supply chain make China a strategic imperative for any company seeking cost-effective world-class technology solutions. Freeborders investors include FTVentures and Internet Capital Group (NASDAQ:ICGE).

Contacts

FTVentures for Freeborders
Karen Derr Gilbert, 415-229-3044
kgilbert@ftventures.com

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