Bank of Hawaii Selects nextSource Inc. for its Talent Acquisition Management Solution

NEW YORK, Aug. 12, 2002 -- The Bank of Hawaii has selected nextSource Inc.'s its Talent Acquisition Management Solutions (TAMS™) software to manage its recruiting and applicant management processes. nextSource, the leading provider of human capital and services spend management solutions, will provide the Bank of Hawaii with a company-wide, Web-based way to automate and cut its staffing costs.

"Our partnership with nextSource will help Bank of Hawaii continue to achieve its objectives of reducing costs and increasing efficiency," said Vice Chairman and Director of Human Resources Neal Hocklander. "With its real-time reporting capabilities and effective procurement practices, nextSource will aid in our efforts to streamline our processes for acquiring temporary staff and consultants."

"The team at nextSource is very proud to have been selected as Bank of Hawaii's Vendor Management partner," said Joseph Musacchio, president and CEO of nextSource. "The Bank of Hawaii has demonstrated a progressive vision in deploying this leading-edge solution to help them reduce their staffing costs while maintaining quality recruiting services."

The cornerstone of nextSource's unique business model is TAMS™, which facilitates the entire acquisition process from requisition through payment for companies' workforce including administrative and clerical temporaries, field personnel, IT consultants and other professional contract labor.

nextSource has now blended TAMS™ with other related work services for its clients. These services include a "Job Board" for both onsite and offsite jobs, HR Services which include payrolling, benefits administration, etc., The PeopleTicker™ a real-time online rate and salary resource, and The Multiple Listing Staffing Association™ (MLSA), an industry-wide agency exchange.

For additional information on nextSource's Talent Acquisition Management Solution, as well as all of the other services provided, please visit http://www.nextsource.com

About Bank of Hawaii

Founded in 1897, Bank of Hawaii is the leading locally headquartered commercial bank in Hawaii. It is the primary subsidiary of Bank of Hawaii Corporation, a regional financial services company with assets of $9.8 billion as of June 30, 2002. The company and its subsidiaries provide varied financial services to businesses, consumers and governments in Hawaii, the West Pacific and American Samoa.

About nextSource

nextSource, Inc. is a leader in the development and implementation of workforce management solutions that address the enterprise-wide challenges associated with the sourcing and management of contingent labor, direct employee hires and deliverable-based project work. nextSource's solutions combine the latest technologies and the industry's best practices, allowing clients to streamline processes, identify and manage their spend, and mitigate risk. The PeopleTicker™, nextSource's most recent innovation, is the industry's only real-time hourly rate and salary benchmarking tool which enables users to monitor market fluctuations for their full-time and contingent workforces to determine current market rates and salary data specific to industry, geographic region, skill-set, and experience level. John Sculley, former CEO of Apple Computer and PepsiCo, Inc., is the chairman of the nextSource Advisory Board. For more information, visit http://www.nextsource.com.