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Bridges Tracks Progress of 2002 Business Plan Metrics

November 6, 2001

Kelowna, BC -- Bridges.com Inc. (TSE:BIT) -- North America's leading provider of career and educational planning solutions, released elements of its 2002 business plan Tuesday, tracking progress towards key business targets announced earlier this year. At its 2000 Annual General Meeting, Bridges identified several ‘key metrics' for its new three year plan, ending in November of 2003. Today, with the release of the 2002 Business Plan Metrics, Bridges' Chief Executive Officer and President Doug Manning reconfirmed commitment to these metrics.

"These are exciting plans for our company's future growth and we are confident that they are attainable. They are the planning targets we will be striving for through the next two years," said Manning.

The key targets for November of 2002 and 2003, and the present position in Q3 2001, are:


Metric Aug. 31, 2001 Position* Nov. 2002 Target Nov. 2003 Target
Number of Subscribing Sites 15,300 17,500 20,000
Average Revenue per Site $1,130 $1,300 $1,400
New Venture Business
as a % of Total Revenue
8% 13% 20%
Productivity (EBITDA/Revenue) 11.5% 25% 30%

*Note: 'Present position' metrics are approximations for the trailing 12-month position. Bridges believes this 'Moving Annual Total' (MAT) measure is the best way to assess quarter-over-quarter growth.

"In the past five years, Bridges has been primarily focused on increasing its number of subscribing sites while operating without debt," said Mr. Manning. "In the future, we will maintain steady growth in market while turning our attention to increasing average revenue per site and corporate productivity. Our mission is to deliver useful products to counsellors and students, and our increased revenue per school reflects design and delivery of ever more functional, modern, and useful career planning and counsellor tools that are increasingly web delivered and current. And to top it all off, we have a superb customer support service that is second to none. In the future, we also will seek to diversify our business, generating growth from new venture revenue streams."

The 2002 plan includes the following:

  • Subscribing Sites -- Bridges has been successful at securing subscription revenue from over 15,000 sites across North America. This includes 40 per cent of U.S. and Canadian secondary schools. Bridges projects steady growth in the number of sites, with its primary focus in 2002 on continued growth in the secondary school market.
  • Revenue/Site -- Bridges' primary strategy for increasing revenue per site is to provide new career and educational planning resources to schools. The primary focus for revenue/site increases in 2002 will be the distribution of the eGuidance Center resource, co-developed with Peterson's, to existing secondary school customers.
  • New Venture Business -- The diversification of Bridges' business will continue, as Bridges targets high-growth opportunities in career and educational planning. In 2002, the primary focus for diversification will be on e-applications, training, the adult and corporate market, and product distribution through best-of-breed partners.
  • Productivity -- Bridges defines 'productivity' as EBITDA divided by total revenue. Its objective is to continuously improve corporate efficiencies. Bridges plans for strong growth in productivity, with EBITDA/revenue exceeding 25 per cent by the end of fiscal 2002.
"We're excited about our business plan for 2002," said Manning. "By increasing average revenue per site during the year, seeing some 'traction' in our new venture business, and improving our corporate efficiencies, we expect to move much closer to achieving our stated key metric goals for the end of fiscal 2003."

About Bridges

Bridges is North America's leading provider of career information services, training, and self-directed career and educational planning tools. Over 15,366 schools, libraries, employment centres, post-secondary schools and rehabilitation facilities subscribe to Bridges' customized products. Bridges serves the career development needs of millions of students and adults seeking educational or career planning assistance. Its resources are also uniquely adapted to service a wide range of corporate, consumer and global markets. The company, which has offices in Canada and the U.S., is listed on the Toronto Stock Exchange under the symbol: BIT.

In 2001, Bridges has received the Ernst & Young's Pacific Region Entrepreneur of the Year award in the e-Business category; OSCA's Career Education Citation Award for Paws in Jobland; Bridges has ranked 5th on Profit Magazine's Profit 100; and ranked 10th in Deloitte & Touche's Technology Fast 50.

Forward-Looking Statements

Certain statements made in this report by the company constitute forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement to the company's services and products, expectations concerning future revenue and earnings, market opportunities, and relating to the sufficiency of capital to meet working capital and capital expenditure requirements.

All forward-looking statements reflect management's current views, intentions and expectations with respect to future events and are subject to certain risks, uncertainties and assumptions. In light of the many risks and uncertainties that may cause future results to differ materially from those expected, the company cannot give assurance that the forward-looking statements contained in this report will be realized. Forward-looking statements are not guarantees of future performance.

Contact:

Norm Thompson
EVP Corporate Development
Bridges.com Inc.
Tel: 250-869-4302 or 1-800-281-1168
E-mail: nthompson@bridges.com
Kim Schulz
Media Relations Coordinator
Bridges.com Inc.
Tel: 250-869-4272 or 1-800-281-1168
E-mail: kschulz@bridges.com

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