ENTREPRENEUR MAGAZINE NAMES TRANSLATIONS.COM CO-FOUNDER 2004 WOMAN OF THE YEAR

Award Sponsored by OPEN: The Small Business NetworkSM from American Express

NEW YORK, New York, July 8, 2004 - Rieva Lesonsky, senior VP/editorial director of Entrepreneur announced today that Liz Elting, President and CEO of TransPerfect Translations Inc. and Co-Founder of Translations.com, is Entrepreneur's 2004 Woman of the Year sponsored by OPEN: The Small Business Network from American Express.

Reviewing entries from all over the country, Elting was chosen by the magazine as the entrepreneur who best exemplifies competitiveness, compassion and clarity of vision. Starting in 1992 with $5,000 in start-up funding from credit cards, Elting expects her company's gross sales to hit $35 million for 2004.

"Liz Elting represents the best of business owners, and, in particular entrepreneurial women," said Stefanie Katz-Rothman, vice president, American Express. "The OPEN Network is proud to support business owners who are doing big things, and we congratulate Liz on her impressive business accomplishments."

Ms. Elting, The Woman of the Year, is featured in the June issue of Entrepreneur, on sale May 25. As the winner she will be honored at an invitation-only luncheon at FRESCO's by Scotto in New York City, on Wednesday, June 2, 2004.