Aug 26, 1997: Shareholders Approve TMP Worldwide's Acquisition Of Austin Knight

New York, N.Y., August 26, 1997 -- TMP Worldwide (NASDAQ: TMPW) announced today that it completed the acquisition of all of the shares of Austin Knight. TMP announced intentions to acquire Austin Knight, a leading global recruitment advertising agency, last month.

The acquisition of Austin Knight further establishes TMP as one of the world's largest recruitment advertising agencies. Austin Knight had $47.6 million in commissions and fees and gross billings of $215.4 million in the year ended 1996.

Founded in 1967, TMP Worldwide is the world's largest yellow page and one of the world's largest recruitment advertising agencies with more than 2,200 employees in 11 countries. TMP's clients include more than 70 of the Fortune 100 and more than 240 of the Fortune 500 companies. The company's Internet offerings include The Monster Board, the premier career center on the World Wide Web; Online Career Center, the Internet's earliest career site; MedSearch, the primary online "help wanted" service for the health care industry; and Be the Boss, a leading provider of information on franchise opportunities.