Shareholder Class Action Filed Against Opus360 Corp. By the Law Firm of Wechsler Harwood Halebian & Feffer LLP

The following statement was issued today by the law firm of Wechsler Harwood Halebian & Feffer LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York, located at 500 Pearl Street, New York, NY 10007, on behalf of all purchasers of the common stock of Opus360 Corp. ("Opus" or the "Company") (NASDAQ: OPUS) at or traceable to, Opus' April 7, 2000 initial public offering ("IPO") and through March 20, 2001, inclusive (the "Class Period").

The complaint charges Opus360 and certain of its officers and directors with issuing false and misleading statements regarding its business and financial condition. On April 7, 2000, Opus commenced an IPO of 7 million of its shares of common stock at an offering price of $10 per share. In addition, Safeguard Scientifics, Inc., and CompuCom Systems, Inc., together sold 700,000 shares of Opus common stock at $10 per share on April 7, 2000. The complaint alleges that defendants failed to disclose, among other things, that: (i) OPUS XCHANGE, a product that the Prospectus touted as a sophisticated professional matching and project management software system, was fatally flawed and could not perform many of the functions detailed in the Prospectus; and (ii) that Opus had no basis for stating that the funds earned from the IPO would suffice to fund its aggressive expansion plan for at least 12 months following the IPO without additional financing. However, on March 20, 2001, Opus filed its financial results for the year 2000 with the SEC, on Form 10-K. The 10-K contained a letter from KPMG, LLP, Opus' outside auditors, which revealed that there was a substantial doubt about Opus' ability to continue as a going concern. Opus' common stock closed at $0.13 per share on April 20, 2001 -- a 98% decrease from the IPO price of $10 per share.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Wechsler Harwood Halebian & Feffer LLP, which has significant experience and expertise prosecuting class actions on behalf of investors and shareholders.

If you are a member of the Class described above, and if you meet certain other legal requirements, you may, no later than June 12, 2001, move the Court to serve as a lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." The requirements for serving as a lead plaintiff are set forth in the Private Securities Litigation Reform Act of 1995 (15 U.S.C. S 78u-4). Please note, however, that class members need not seek appointment as lead plaintiff in order to share in any recovery resulting from this litigation.

Wechsler Harwood Halebian & Feffer LLP has taken a leading role in many important actions on behalf of defrauded shareholders. The Wechsler Harwood Halebian & Feffer LLP website (http://www.whhf.com/) has more information about the firm.

If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following:

  Wechsler Harwood Halebian & Feffer LLP
  488 Madison Avenue 8th Floor
  New York, NY 10022
  Phone: 877-935-7400 (Toll Free)

  Patricia Guiteau
  Shareholder Relations Department
  pguiteau@whhf.com

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SOURCE: Wechsler Harwood Halebian & Feffer LLP

Contact: Patricia Guiteau of Wechsler Harwood Halebian & Feffer LLP
Shareholder Relations Department, pguiteau@whhf.com

Website: http://www.whhf.com/