TMP Worldwide Completes Acquisition of Baumgartner & Partner Personalberatung GmbH

by Further Strengthening its Presence in Europe

New York, NY - March 7, 2000 – TMP Worldwide Inc. (NASDAQ: TMPW; ASX: TMP), the leading provider of global recruitment solutions including the dominant Internet career portal, Monster.com, today announced it has completed the acquisition of Baumgartner & Partner Personalberatung GmbH, a privately held recruitment consulting company based outside of Stuttgart, Germany. The terms and conditions of the acquisition were not disclosed.

Baumgartner & Partner, which was formerly privately held by Commerzbank AG, PricewaterhouseCoopers and others, provides a broad range of personnel consulting services including search, advertised selection and management audits. The company employs more than 30 consultants in 6 offices throughout Germany and has approximately $12 million in annual commissions and fees.

This acquisition follows TMP's recent purchase of HW Group PLC, who had annual gross billings of approximately $90 million and annual commissions and fees of approximately $45 million for 1999. As a result, on a pro forma basis, TMP and the combined companies would have reported commissions and fees of $609 million for the nine months ended September 30, 1999.

With the acquisition of Baumgartner & Partner, TMP Worldwide, who already held a significant presence within the German recruitment market, has become the third largest personnel-consulting firm in Germany.

“Baumgartner pioneered the recruitment industry in Germany over 40 years ago,” said Andrew Grant, Chief Executive Officer of TMP's European Executive Resourcing Business. “The successful integration of our businesses will position us as recruitment leaders in the German and European markets.”

Andrew Banks, Global Chief Executive Officer of TMP Executive Resourcing, said: “The addition of Baumgartner & Partner is crucial to our dominance in the European selection market. TMP's selection expertise, combined with our vast network of personnel consulting and recruitment resources, enables us to offer a wider array of services to our multinational customers.”

The Baumgartner acquisition is a critical addition for TMP's global Interactive expansion plans, as they prepare for the upcoming launch of Monster Germany, a local content version of the dominant Internet career portal Monster.com. Baumgartner, has been operating its own locally successful recruitment site since 1997. The combined forces of Monster and the Baumgartner site will establish TMP as the Internet recruitment leader within Germany.

“The increasing globalization of international firms places major demands on the personnel consulting market, in particular, to provide solutions for global assignments. TMP Worldwide is the ideal partner for us,” stated the previous chairman of the firm's executive management board, Ulrich P. Reiter. “In addition to its international presence TMP is also the world's largest provider in the Internet recruitment market. The merger with TMP makes it possible for Baumgartner & Partner to realize its ambitions to directly enter the field of electronic personnel recruiting. In strategic terms, this decision was the only one to make, and will lead to a major contribution towards realizing our future expansion in the coming years,”

Andrew J. McKelvey, Chairman and CEO of TMP said "With a leadership position in the recruitment consulting business in Germany, Baumgartner greatly strengthens TMP's global position, increasing the variety of resources we offer in these crucial and momentous markets. Our combined forces will further emphasize TMP's position as the number one dominant global player in the recruitment business.”

Founded in 1967, TMP Worldwide, now with more than 7,200 employees in 25 countries, is the on-line recruitment leader, the world's largest recruitment advertising agency network, and one of the world's largest search and selection agencies. TMP Worldwide, headquartered in New York, is also the world's largest yellow pages advertising agency and a provider of direct marketing services. The company's clients include more than 90 of the Fortune 100 and more than 480 of the Fortune 500 companies.

About Monster.com

Monster.com (www.monster.com), the flagship product of the Interactive Division of TMP Worldwide, is the Internet's leading career destination portal. The Monster.com network currently consists of web sites in the United States, Canada, the United Kingdom, the Netherlands, Australia, Belgium, France, Singapore and New Zealand. More information about Monster.com is available at www.monster.com.

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Special Note: The above statements include forward-looking statements based on current management expectations. Factors that could cause future results to differ from these expectations include the following: risks associated with acquisitions, competition and seasonality. Additional factors are described in the company's reports filed with the Securities and Exchange Commission.

Jim Treacy
(212) 527-8604
jtreacy@tmp.com