PAISLEY CONSULTING AND SMARTPROS LTD. LAUNCH THE COLLABORATIVE ASSURANCE & RISK DESIGN E-LEARNING CENTER

New Portal-Enhanced Delivery of Training Services to Audit and Control Professionals

Cokato, MN/Hawthorne, NY – March 28, 2005 – Paisley Consulting, a leading provider of business accountability solutions, and SmartPros Ltd. (AMEX:PED), a leading developer of accredited continuing professional education, today jointly announced the launch of The Collaborative Assurance & Risk Design® (CARD) e-Learning center. The CARD® e-Learning center provides quick, easy access to cost-effective online training to help organizations comply with the requirements imposed by Sarbanes-Oxley, Basel II, operational risk management and other corporate governance and compliance measures. Three Sarbanes-Oxley courses are available immediately to provide training on how to cost effectively comply with sections 302 and 404 of the Act. Also available are two modules on COSO enterprise risk management(ERM) and risk and control assessment techniques. These courses are the first in a series of broader operational risk offerings planned for roll out, including modules on grading control deficiencies for Sarbanes-Oxley and Basel operational risk management and more.

The CARD e-Learning center was designed to assist industry professionals, as well as both companies’ growing client bases, on all aspects of compliance and risk management. Online software training was designed specifically to provide Paisley Consulting customers with efficient and more cost-effective access to software training sessions that typically take place on site, thus enhancing the overall service experience and allowing registrants to learn on their own time and at their own pace.

"Recent changes in the regulatory environment have created a growing need in the marketplace for Sarbanes-Oxley and other operational risk training that can be deployed on a ’just-in-time’ basis," said Tim Leech, Principal Consultant and Chief Methodology Officer, Paisley Consulting. "As the industry’s first software provider to offer integrated SOX methodology and software training, we have further solidified our commitment to providing full service solutions and services to our customers."

"Utilizing each others’ strengths, Paisley Consulting developed the core materials for the program and SmartPros adapted the materials for online training and education utilizing SmartPros’ Professional Education Center™ Learning Management System," said SmartPros Accounting Division President, Jack Fingerhut. "Further, we feel this new product is well-timed and will be well-received. Both SmartPros and Paisley Consulting have core strengths in this market, and our team effort truly shows in the quality of this cutting-edge program."

The training modules offered through Paisley Consulting’s CARD e-Learning center initiative have been designed to meet the requirements for continuing professional education (CPE) credits.

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