News/Press Releases

Tuesday - October 10, 2006.

Steve Reich Joins LeisureLink Inc. Veteran Executive Added to Growing Management Team.

LeisureLink Inc. today announced that veteran sales and marketing executive Steve Reich has joined the management team as Senior Vice President, Sales and Marketing. Reich is the second senior executive to join the company in 2006.

“Steve will energize the sales and marketing process at LeisureLink,” said Erik Hovanec, President and CEO. “His experience will be invaluable in creating a professional, highly effective team that will further accelerate LeisureLink’s growth” he said. Hovanec joined the company in early 2006, and is overseeing dramatic growth at LeisureLink Inc. Steve has over 15 years of sales & operations experience in both public and private
technology companies. He has held executive positions with Digital Insight Corporation (symbol DGIN) and Treasury Services Corporation.

As SVP Sales and Marketing, Steve was responsible for helping to position Digital Insight as the leading Internet banking ASP solution while driving sales from $4 million to $55 million in less than 3 years. While at Treasury Services, Steve was responsible for building the sales organization and increasing sales from $4 million to $35 million in a five year period. Treasury Services was sold to Oracle Corporation for $120 million.

Steve will provide critical leadership to LeisureLink in developing and managing the sales and marketing related activities of the company.  He will be responsible for sales to property managers, as well as managing relationships with existing clients.  “LeisureLink is positioned to dramatically change the industry”, said Reich.  “Vacation lodging is a hidden jewel of the travel business, and will clearly take market share away from hotels as we aggressively market them across all electronic channels”, he said.   “I’m delighted to join the LeisureLink team at such an exciting moment” said Reich.
Steve will also be working with major industry trade groups such ARDA, VRMA, C.A.R.E, and NACHO to advance the vacation lodging industry as a whole.   He will also oversee the company’s relationships with it’s’ clients, and with key strategic partners in vacation lodging management software and services industries.

 “The strong management team we are building at LeisureLink is critical to the company’s success,” said Jim Armstrong, Managing Director of Clearstone Venture Partners and a member of LeisureLink’s Board of Directors.  “We will continue to add senior executives such as Steve and Erik, as we become a dominant distribution channel for the vacation lodging industry,” he said.

Contact:
Steve Reich
SVP Sales and Marketing
626-6969-4530
slreich@leisurelink.com

About LeisureLink
LeisureLink was founded in June of 2002 with the goal of making vacation lodging properties widely available through online travel sites and traditional travel agents.  LeisureLink not only delivers broad distribution, but also provides revenue management tools that maximize property managers’ profitability in all market conditions and seasons. Our clients include vacation lodging, timeshare, and condohotel properties.

About Clearstone Venture Partners
Clearstone Venture Partners provides venture capital for technology
innovators. With offices in Santa Monica and Menlo Park,
California, Clearstone has $650 million of committed capital to invest across the horizon of technology markets, including software, enterprise infrastructure, storage, communications, security, wireless, semiconductors, advanced optics and both consumer & business Internet. The firm's investors include investment entities of JP Morgan, CalPERS, CalSTERS,Goldman Sachs, Merrill Lynch, MIT, and The State of Michigan. Clearstone has a proven history of leadership in financing and building high-growth technology start-ups, having backed segment-leading companies including PayPal, United Online, Overture, and, PeopleSupport.