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Toysrus.com COO/CFO Announces Resignation
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 Toysrus.com, the premier retailer of children's products on the Internet, today announced that Jonathan F. Foster, who played a key role in the company's recently announced and launched strategic alliance and co-branded site with Amazon.com, planned to resign as Executive Vice-President, Chief Operating Officer and Chief Financial Officer. John Barbour, Chief Executive Officer of Toyrus.com, said, ``Jon is a highly respected operations and financial executive who has played an essential leadership role in the development of Toysrus.com. He has brought together the proven Toys R Us brand, one of the most popular family brands in the world, with the power of Amazon, the leading global e-commerce company. We are grateful for Jon's important contribution to our success, and wish him well.'' Jonathan Foster commented, ``At Toysrus.com, I have been privileged to help build the Toysrus.com brand, particularly with the venture capital financing led by SOFTBANK, the execution of a major capital expenditure plan, the recruitment of an exceptional management team, and the Amazon.com alliance. With the Toysrus.com/Amazon.com co-branded site off to a sound start, I have decided to focus my efforts on other business opportunities.'' As Chief Operating Officer and Chief Financial Officer, Foster had direct responsibility for fulfillment, customer service, human resources, recruiting and finance. Previously, he spent more than ten years with Lazard Freres & Co. LLC, ultimately as Managing Director, where, among other things, he established the firm's investment banking business with the private equity firms. Raymond Arthur, Vice President -- Finance for Toysrus.com, will assume the role of Senior Vice President -- Chief Financial Officer, and will report directly to John Barbour. Under the Toysrus.com/Amazon.com alliance, Amazon.com will handle site development, order fulfillment and customer service, so the Chief Operating Officer role will not be filled. Toysrus.com is the premier retailer for children's product on the Internet. Toysrus.com, majority owned by Toys R Us, Inc., combines one of the world's most recognizable brands with unparalleled expertise in the toy and children's industry. Earlier this year, SOFTBANK, the No. 1 Internet investor in the world, became a minority partner. In July, Toysrus.com launched Babiesrus.com, an online e-resource partnership with the No. 1 juvenile retailer in the world, Babies R Us. In August, Toysrus.com and Amazon.com announced a strategic alliance to create a co-branded toy and video games store. According to Media Metrix, in 1999 Toysrus.com became one of the fastest growing e-commerce sites on the Internet and continues to consistently be ranked as the No. 1 online toy site in visitor traffic. [Posted 10/27/2000]
  
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