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ITelagen Awarded Grant from the New Jersey Economic Development Program

Business Employment Incentive Program (BEIP) Entices ITelagen to Establish Headquarters and Call Center in Harborside Plaza, NJ

Jersey City, NJ, September 12, 2007 — ITelagen, the innovative provider of flat-rate virtual IT services, today announced it was awarded a Business Employment Incentive Program (BEIP) grant to expand in New Jersey. The grant program, administered by the New Jersey Economic Development Authority (EDA), rewards growing companies that create new, full-time jobs in the state.

The BEIP grant, which will amount to an estimated $550,699 over 10 years, was a major incentive for ITelagen to permanently establish its headquarters in Jersey City’s Harborside Financial Center, where the company will build a 4,000-square-foot technology center and add 25 support engineers over the next two years. While initially considering a move to New York City, where much of its customer base is, ITelagen’s Managing Director John O’Keefe factored in the benefits of the BEIP grant and the unique location at Harborside Financial Center.

“The obvious solution would have been to set up our headquarters in New York City,” said O’Keefe, “but the grant, combined with the accessibility and sophistication of Harborside Financial Center, swayed our decision. “In addition, Jersey City is a major transportation hub that provides us with easy access to Manhattan while still allowing us to tap into the extensive pool of intellectual talent in New Jersey. This enables us to better serve our customers nationwide,” O’Keefe said.

“We are pleased that ITelagen has decided to expand in Jersey City,” said EDA Chief Executive Officer Caren S. Franzini. “BEIP grants offer important financial incentives to companies that are considering expansion or relocation to New Jersey and serve as a key element of Governor Jon S. Corzine’s comprehensive Economic Growth Strategy to attract good, high-paying jobs to the state.”

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey’s communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

ITelagen’s relocation to the Harborside Financial Center in Jersey City reflects an exciting trend taking place throughout New Jersey. Instead of relocating to suburban office parks, many companies are taking advantage of statewide incentives, such as those offered by EDA, to move to previously under-developed urban areas. In the case of the Harborside Financial Center, companies are rewarded with premier waterfront views and state-of-the-art office space that includes restaurants, a health club and a variety of retail shops. This real estate trend of urban gentrification is helping renovate deteriorated city neighborhoods and make them attractive to business and residential developers.

About ITelagen, LLC
ITelagen provides IT support services to the growing number of small and medium-sized businesses that have no alternative for IT support other than expensive consultants that bill hourly for their service. Through its proprietary ITAgent™ and ITVision™ software technologies, ITelagen offers its customers an all-inclusive, guaranteed, one-price service that covers an array of essential IT facets including desktop, server and network infrastructure support and management, all on a flat-rate monthly subscription.