"SquareTrade addresses the all-important issue of building trust in e-business relationships; one of the essential enabling factors required before we will see substantial transaction volume in online marketplaces," says Proudian. "I'm looking forward to working with the SquareTrade team to pioneer this crucial foundational element of the e-commerce revolution."

"Derek brings us a tremendous combination of operational, brand building and venture capital expertise," says Abernethy. "He will provide SquareTrade with important insight into what is critical to our success in this stage of our growth."

Prior to Morgan Stanley, Proudian was a general partner at Mohr Davidow Ventures where he spearheaded investments in Internet media, e-business infrastructure and e-commerce. Proudian was the initial investor and one-time CEO at Zip2 Corporation, the first Internet media company to deliver local community information, guiding Zip2 toward its successful sale to Compaq and merger with Alta Vista. Proudian has been the founding investor and start-up board member of a number of Internet companies including: Requisite Technology, Brigade Solutions, IMX Exchange, StockPower, SkyGo, SemiSales and ElectronicAdvisor. Proudian holds undergraduate and advanced degrees in computer science, and an MBA, all from Stanford University.

About SquareTrade
SquareTrade is the leading online trust builder, reputation enhancer and dispute resolution service for e-commerce transactions. SquareTrade's critical e-commerce infrastructure, gives buyers and sellers--both consumers and businesses--the confidence they need to conduct transactions online. The SquareTrade Seal establishes an online seller's customer service track record and helps build buyer confidence. For potential buyers, the SquareTrade Seal is the first line of defense against fraud and symbolizes a seller's commitment to delivering successful transactions. SquareTrade's unbiased multi-step online dispute resolution service promotes safe transactions, fosters maintaining good business relationships and strengthens reputations. Founded in 1999, SquareTrade has an expanding network today comprised of more than 200 trained mediators and arbitrators. SquareTrade's mediators and arbitrators offer e-commerce buyers and sellers neutral, professional guidance through the SquareTrade Online Dispute Resolution Service.

SquareTrade's advisory board of leading experts includes Roger Fisher, Professor Emeritus at Harvard Law School, Founder/Director of the Harvard Negotiation Project and author of "Getting to Yes"; David Johnson, Partner, Wilmer Cutler & Pickering, Washington, D.C. and ex-Chairman, Electronic Frontier Foundation; Ken McEldowney, Executive Director, Consumer Action; Jonathan Zittrain, Executive Director, Berkman Center for Internet and Society, Harvard Law School; and Ethan Katsh, Co?Director, Center for Dispute Resolution and Information Technology, University of Massachusetts, Amherst. Its offices are based in San Francisco, CA. For more information, employment opportunities or to contact SquareTrade representatives, visit the Web site at www.squaretrade.com.