E-Duction Names Paul Chicos President and CEO
Former Aon Consulting Executive Vice President to Expand Offerings and Distribution Channels
02/15/05

BLUE BELL, PA, February 15, 2005 — E-Duction, Inc., the provider of CLEAR, a financial program that improves the work/life balance of America’s employees, announced that, effective January 31, 2005, Paul Chicos, formerly an Executive Vice President with Aon Consulting, has joined the organization as President and Chief Executive Officer.

In his new post, Chicos will focus on new business, but also will be accountable for the delivery of products and services to existing clients, and thus the systems necessary to support these and all future offerings. Of note is his intent for E-Duction to distribute not only on a direct basis, but also through indirect channels including insurance companies and trust departments; benefits brokerage operations and human resources consulting firms; as well as third-party administrators, outsourcing organizations and software providers. Target markets will include large employers, coalitions and union groups.

Chicos sees this as "an exciting time for E-Duction." He adds, "The list of clients is impressive and its partners and team members are without equal. I look forward to building on the momentum."

Most recently at Aon, Chicos served as a member of the US Operating Committee and the US Health & Welfare Practice Leader of Aon Consulting, responsible for the assessment, selection and implementation of healthcare and income replacement programs for large/strategic accounts, the middle market and small groups.

Other roles within Aon Consulting - spanning more than 25 years - have included the management of national, regional and local operating units, various client relationships and project deliverables, as well as new business opportunities. As a result, his cumulative expertise extends beyond health & welfare into retirement, compensation, communication, and administration.

Kirk Watkins, Chairman and Founder of E-Duction, is convinced that, "the relationships that Paul has with manufacturers, distributors, and purchasers of employee benefits products and services will better position E-Duction to take advantage of opportunities in the worksite marketing space."

Chicos has a BA in political science from Lawrence University and an MBA in accounting, finance and operations from Northwestern University. He lives in Gladwyne, Pennsylvania.

About E-Duction
E-Duction was launched to capitalize on a growing trend that has emerged in payment technology - payroll deduction. In 2002, E-Duction introduced the first payroll deduction card, CLEAR, that gives employees interest-free purchasing power, 365 days per year. CLEAR is an innovative voluntary benefit that allows employees to make purchases at over 33 million MasterCard acceptance locations worldwide and spread payments out over future paychecks.
E-Duction also offers Benefits Integrator, which allows employees to initiate payroll deductions at the point-of-purchase and also can convert an unlimited number of transactions from any source into a user-defined number of payroll deductions. Benefits Integrator is a new channel for delivering employee benefits that enables benefits brokers, consultants and carriers to offer more products because it eliminates operational roadblocks.

For more information about E-Duction, please contact:
Tom McCormick at (215) 371-5112
E-mail: tmccormick@e-duction.com

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