June 24, 2009

BookRenter.com Names Mehdi Maghsoodnia Chief Executive Officer
As Company Witnesses Explosive Growth

(Campbell, CA) June 24, 2009 -- BookRenter.com today announced that Mehdi Maghsoodnia has been named Chief Executive Officer. Maghsoodnia, who was previously an angel investor in BookRenter, succeeds Colin Barceloux. Barceloux, BookRenter's founder, has now transitioned into the role of VP of Business Development.

Maghsoodnia joins the company in the middle of tremendous growth. Over the past year, BookRenter's customer base has increased more than six-fold. In today's tough economic climate, more and more students – and their parents -- are saving hundreds of dollars each semester by renting their textbooks instead of buying.

"Mehdi is exactly the right leader for BookRenter," said Barceloux. "His extensive technology background and vision will help us deliver on what we think is the mission of our company, making textbooks affordable and accessible. His strong management experience will help us build a world-class team as we scale rapidly."

"Colin and team have built an amazing company in the past two years with a powerful platform that delivers great value to its existing customer base," said Maghsoodnia. "Their hard work has helped thousands of students across 3,000 campuses save millions of dollars on textbooks and has made education more affordable. That is real value especially during hard economic times."

Students are clearly happy with the savings BookRenter offers. Over the last month, BookRenter customers have saved an average of $85.60 on each rental. As customer Lorena Rossi put it, "This is the best way to get the books that you need in college!"

Maghsoodnia was most recently Vice President of Online Operations for CafePress, which is the largest online t-shirt marketplace. Prior to CafePress, Maghsoodnia was SVP of Products and Services at Intellisync, which was acquired by Nokia in early 2000. In addition to being a part of BookRenter, Maghsoodnia also serves on the board of several high technology startups including FaceTime Communications, PBWorks, BlueTweet, and NatureAir.

About BookRenter.com

Founded in 2006, BookRenter.com is the first online book rental service. BookRenter.com replaces traditional bookstore sales with online book rentals for students at schools throughout the nation. Flexible rental periods and a hassle free return process save customers up to 75% off retail price. These savings, along with a large title selection, five convenient rental periods, and free return shipping make BookRenter.com the best way to rent textbooks. Located in Campbell, California, BookRenter.com is a Santa Clara County certified green business.