TMP Worldwide Announces Expansion Of Its On-Line Advertising Services With Latest Acquisition
New York, June 10, 1999 – TMP Worldwide Inc. (NASDAQ: TMPW; ASX; TMP), the leading provider of global recruitment solutions, including the dominant Internet career portal, Monster.com, and the world's largest Yellow Pages advertising agency, today announced a series of acquisitions, including the purchase of IN2, Inc., a state of the art, online marketing agency and technology company based in New York.
IN2 Inc., which is central to TMP's growth in the online advertising market, was acquired on May 28, 1999 by issuing approximately 289,000 common shares; the transaction was accounted for as a pooling of interests.
By applying direct marketing principles, proprietary data mining applications, and an award winning creative approach, IN2 has become a key interactive partner for clients such as iVillage, StarMedia, About.com, Columbia House, CMP Media, and Furniture.com. As many of TMP's Yellow Page clients migrate their key businesses to the Web, IN2 will provide them with complete online marketing solutions and will continue to expand its own interactive client base and develop technology solutions.
For TMP Worldwide, this acquisition marks the establishment of two new business units within the company -- Interactive Direct Marketing and Interactive Technologies.
Interactive Direct Marketing will consist of a national and, eventually, an international presence of online marketing agencies. Interactive Technologies will focus on building and integrating interactive marketing technologies to offer cutting-edge tools and solutions in online and offline directional mediums.
Andrew J. McKelvey, chairman and CEO of TMP Worldwide said, "TMP greatly believes in the Internet's efficiency as a powerful one-to-one marketing vehicle. With the creation of these groups and a determined commitment to the further development of these services, TMP will look to increase its presence in marketing technologies, advertising networks, and data mining capabilities. IN2 is the first step towards TMP's becoming a leader in these emerging opportunities."
Interactive Technologies' first product, ClickMapssm is an advertising tool that measures return on investment (ROI) and provides behavioral analysis. This tool allows advertisers to measure sales, repeat traffic, and other essential brand and e-commerce matrices back to individual marketing units, such as banners. The tool presents the advertisers with the ability to greatly reduce costs, while driving only the most qualified users to their Websites. This application is currently measuring over two million advertising interactions per day.
James Healy, CEO and co-founder of IN2, said "TMP will bring IN2 and the newly formed groups the resources and top tier client access to quickly build upon our current successes. In addition, we will be able to better serve our clients while designating a full time group toward the development of our proprietary technologies."
Stuart McKelvey, President and COO of TMP's Yellow Page operations, stated that "This acquisition is particularly exciting because it enables us to provide cutting-edge services to help the continued solid growth of the Yellow Page advertising business."
Further adding to its Yellow Page operations, TMP acquired LIDA Advertising, Inc., based in Indianapolis, Indiana and Yellow Pages Unlimited, based in St. Louis, Missouri in pooling of interest transactions and issued approximately 202,000 shares of TMP common stock. These two acquisitions, both completed in May, represent approximately $4.0 million in annual revenue to TMP's Yellow Page advertising unit.
Adding to its global "Intern-to CEO" network, and demonstrating the company's commitment to maintaining its leadership position as the ultimate provider of global recruitment solutions, TMP's Search & Selection and Recruitment Advertising units acquired six businesses. In May, TMP's Search & Selection unit acquired Maes & Lunua in the Netherlands and Lemming & LeVan, Inc. in the U.S., both in pooling of interest transactions, issuing approximately 233,000 TMP common shares. The company also purchased Cogeplan in France and Theaker, Monro & Newman in the U.K. On May 28, 1999, TMP's Recruitment Advertising unit entered the Irish recruitment advertising market with the purchase of Eureka Advertising, and continued expansion in the Netherlands with the purchase of IWP on April 28, 1999. These acquisitions represent approximately $14.5 million in annual revenue to TMP.
On April 28, 1999, TMP purchased InterQuest, in a pooling of interests transaction, issuing approximately 177,000 shares of common stock. InterQuest is a Sydney-based provider of Temporary Contracting personnel, specializing in Information Technology. For the year ended on December 31, 1998, InterQuest reported Temporary Contracting revenue of approximately $24.0 million with approximately $20.6 million of direct-temporary contracting costs.
"The addition of InterQuest further strengthens TMP's temporary contracting operations in Australia, which enjoyed remarkable growth over the past year," continued Andrew J. McKelvey. "This acquisition also enables us to heighten our leadership position in the search & selection industry, by extending our services to provide positions not only at the executive and middle management levels, but also through contract staffing. Moreover, with InterQuest, TMP will now be able to expand job listings on Monster.com to include people who are looking for permanent, temp-to perm or contract positions."
About TMP Worldwide
Founded in 1967, TMP Worldwide is the leading provider of global recruitment solutions including the dominant Internet career portal, Monster.com; and the world's largest Yellow Pages advertising agency. The company has approximately 5,400 employees in 24 countries. TMP's clients include more than 80 of the Fortune 100 and more than 400 of the Fortune 500 companies.
Monster.com (www.monster.com), the flagship product of the Interactive Division of TMP Worldwide, is the leading global online network for careers, connecting the most progressive companies with the most qualified career-minded individuals. Monster.com is committed to leading the market by offering innovative technology and superior services that give consumers and businesses more control over the recruiting process. The Monster.com network consists of websites in the United States, Canada, the United Kingdom, the Netherlands, Australia, Belgium and France. Germany, Singapore and Ireland will be next. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER.
For an investment kit, please contact James J. Treacy at (212) 527-8604 or visit www.tmpw.com
Safe Harbor
This press release contains financial information and includes forward-looking statements related to TMP Worldwide, Inc. that involve risks and uncertainties, including, but not limited to, product delivery, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect TMP Worldwide's future results, please see the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially from management expectations. Copies of these filings are available upon request from TMP Worldwide's investor relations company.













