HAWTHORNE, New York. - August 1, 2001 - SmartPros Ltd. (formerly KeepSmart.com, Inc.), a leader in continuing education for professionals since 1981, announced the appointment of 2 new Directors at a board meeting held in New York on July 24th. The two new members appointed to the board are Allen S. Greene, CEO of SmartPros, and Joshua Weinreich, CEO, Global Alternative Investments, Deutsche Asset Management. In addition, Mr. Greene was named Vice Chairman of the Board of SmartPros.

Before joining SmartPros, Allen S. Greene had been President and CEO of Veral & Co. L.L.C., a consulting and investment banking firm. Prior to consulting, Greene was COO of Medallion Financial Corp., a publicly traded specialty finance company. Medallion was named one of the 200 best small companies (Forbes Magazine 11/99) during his tenure. Previously, Greene was President and CEO of Ryan Beck & Co., a 50-year old full-service securities and investment banking company. Prior to that, he was Chairman, President and CEO of VSB Bancorp and Valley Savings Bank, which were sold to UJB Bancorp (now Fleet) in 1994. While at Valley, Financial World Magazine named him CEO of the Year bronze award winner in 1993 and 1994. Greene has been a Director of numerous public and private corporations.

Joshua Weinreich is currently Global Head of Alternative Investments for Deutsche Asset Management (DeAM), which is comprised of Absolute Return Strategies and Real Estate Investment. Prior to his current role, Mr. Weinreich was Regional Head of Deutsche Asset Management in the Americas and Global Head of the firm's Absolute Return Strategies business. He has held a number of management positions during his 16-year tenure with Bankers Trust (Bankers Trust was acquired by Deutsche Bank in 1999). Weinreich joined Bankers Trust Company in 1985 and was elected Vice President in 1987 and Managing Director in 1992. He holds a BA degree in Economics from Cornell University and an MBA from the Wharton School of the University of Pennsylvania.

John Gamba, Chairman of the Board, said, "We are very pleased with the appointment of Josh and Allen to the board. Their expertise in leading companies to the next level, and in improving shareholder value, will be a tremendous benefit to us as we move forward." With recent funding and the purchase of 2000 hours of content from a competitor, SmartPros is one of the premier content providers for continuing education for corporate accountants, public accountants and engineers. SmartPros' highly regarded accounting products serve the major CPA firms and 50% of the Fortune 500 companies, while its accounting portal alone has 100,000 registered users and 200,000 visits per month.

About SmartPros Ltd.
SmartPros Ltd, formerly KeepSmart.com, is a leader in online and offline continuing education for professionals. With over 4,000 hours of content, SmartPros has been providing mandatory continuing education products since 1981. SmartPros has experts in the fields of Corporate Accounting, Public Accounting, Engineering and Law. SmartPros provides services and content to its professional and corporate clients, in a variety of media including Web, CD ROM, and video. KeepSmart's customers include 50% of the Fortune 500, as well as the major firms and associations in each of its vertical markets. Some of the well established SmartPros products include: FMN and FMN Online, PE Exam Review Course for Civil Engineers, CPA Report and Safe R+:Reinforcement Based Safety. SmartPros has its headquarters at 12 Skyline Drive, Hawthorne, NY 10532. Phone: 914.345.2620. Fax: 914.345.2660. Website: www.smartpros.com