Rieva Lesonsky, senior VP/editorial director of Entrepreneur, announced today that Liz Elting, President and CEO of TransPerfect Translations Inc., is Entrepreneur's 2004 Woman of the Year sponsored by OPEN: The Small Business Network from American Express.

Reviewing entries from all over the country, Elting was chosen by the magazine as the entrepreneur who best exemplifies competitiveness, compassion and clarity of vision. Starting in 1992 out of her dorm room at New York University (NYU) with $5,000 in start-up funding from credit cards, Elting expects her company's gross sales to hit $35 million for 2004.

Elting's company, TransPerfect Translations Inc. is one of the five largest language service companies in the world today, specializing in translation, interpreting, typesetting and multicultural marketing to multinational companies worldwide. "As she described her goal-setting and employee-friendly corporate culture, as well as her charity and community service record, we at Entrepreneur realized we had found an unquestionably unique business owner whose company's reach is truly global," said Entrepreneur's Lesonsky.

"Liz Elting represents the best of business owners, and, in particular entrepreneurial women," said Stefanie Katz-Rothman, vice president, American Express. "The OPEN Network is proud to support business owners who are doing big things, and we congratulate Liz on her impressive business accomplishments."

Ms. Elting, The Woman of the Year, is featured in the June issue of Entrepreneur, on sale May 25. As the winner she will be honored at an invitation-only luncheon at FRESCO's by Scotto in New York City, on Wednesday, June 2, 2004.