FEP, Inc. Announces Innovative Response to Downsizing
of Corporate Meeting Departments

January 9, 2002-Santa Monica, CA --

FEP, Inc., a leader in the meeting management industry, announces an innovative response to the downsizing of corporate meeting departments as corporations begin refocusing on their core competencies due to the lingering recession.

Effective January 10, 2002, the FEP Business Affiliate Program will offer corporations the ability to continue working with their former employees - meeting planners they know and trust - while eliminating overhead costs and realizing significant savings. Recently laid off planners benefit by being able to accept freelance assignments from their former employers without investing in the establishment of their own organizations. Through its Affiliate Program, FEP, Inc. provides the crucial structure and back-office support to the newly independent planner, facilitating the seamless continuation of a working relationship for both parties.

"This presents a winning proposition for all parties involved," said Tony Korody, president of FEP, Inc. in announcing the program. "Corporations will always need face-to- face meetings and incentive programs to drive business. Our Program provides an innovative, cost effective solution that will hopefully redirect some jobs. Corporations will be able to meet management's mandate to downsize while fulfilling their fiduciary responsibility to work with legitimate enterprises. At the same time, being an independent meeting planner shouldn't require the burden of creating a full-fledged company. The FEP Affiliate Program solves these challenges," Korody said.

A key benefit of the FEP Business Affiliate Program is that both parties gain the advantages of having their meetings produced by an established meeting management organization. Outsourced meetings result in significant savings for the corporation from economies of scale, purchasing power, and true cost accounting. Additionally, both parties can take advantage of FEP, Inc.'s staff of planners, graphic artists and web designers as well as their national account status with hotels, premium houses, airlines and AV suppliers to further increase their savings. FEP, Inc. will provide bookkeeping, billing, contracting, payroll and registration services as well as offer insurance coverage and music licensing.

"We've discovered that many freelance meeting planners are bewildered by the intricacies of running a business. Opening the Affiliate Program to them will go a long way in solving this problem and provide a welcome solution for corporations faced with downsizing or eliminating their internal meeting departments," Korody concluded.

Contact: Tony Korody
President FEP, Inc.
(310) 459-9984