TMP Worldwide Completes Distribution of Shares of Hudson Highland Group, Inc. Common Stock; Concludes Final Step in Spin-off of eResourcing and Executive Search

NEW YORK--(BUSINESS WIRE)--April 1, 2003--TMP Worldwide Inc. (NASDAQ: TMPW), the world's leading supplier of human capital solutions, including the pre-eminent Internet career portal Monster(R), today announced that on March 31, 2003, it completed the distribution of approximately 8.5 million shares of common stock in Hudson Highland Group, Inc. to TMP shareholders.

This brings to a close the final step in TMP's spin-off of its eResourcing and Executive Search businesses.

TMP Worldwide remains a stand-alone corporate entity comprised of three business units: Monster, Advertising & Communications and Directional Marketing. Moving forward, the company's strategy is to further leverage and strengthen the synergies that exist between these units, and build upon each unit's competitive advantages, all of which are aimed at driving new business, building market share and increasing profitability.

"The completion of the spin-off marks the beginning of an exciting new chapter in the evolution of TMP Worldwide and affords us the opportunity to capitalize on the full potential of our three dynamic businesses," said Andrew J. McKelvey, Chairman and CEO of TMP Worldwide. "By sharpening our focus and efforts, we are determined to expand each unit's leadership position and become an even stronger force in the markets we serve."

Beginning today, April 1, 2003, Hudson Highland Group common shares will commence regular way trading on the Nasdaq National Market under the symbol "HHGP." TMP does not own any shares of Hudson Highland Group common stock.

Under the new Hudson Highland Group parent company, the former eResourcing unit will assume two transitional names: TMP/Hudson Global Resources, for the staffing side of its business, and TMP/Hudson Human Resource Consulting, for the consulting side. The former Executive Search unit also will assume a transitional name as TMP/Highland Partners. Plans call for all uses of "TMP" within Hudson Highland Group to begin being phased out by April 2005.

About TMP Worldwide

Founded in 1967, TMP Worldwide Inc., with 4,500 employees in 22 countries, is the online recruitment leader and the world's largest Recruitment Advertising agency network. Headquartered in New York, TMP is also the parent company of Monster, the leading global careers website, 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 490 of the Fortune 500 companies. TMP Worldwide is a member of the S&P 500 Index. More information about TMP Worldwide is available at www.tmp.com.

About Monster

Monster, headquartered in Maynard, Mass., is the leading global careers website, recording over 50.7 million unique visits during the month of February 2003 according to independent research conducted by I/PRO. Monster connects the most progressive companies with the most qualified career-minded individuals, offering innovative technology and superior services that give them more control over the recruiting process. The Monster global network consists of local content and language sites in the United States, United Kingdom, Australia, Canada, the Netherlands, Belgium, New Zealand, Singapore, Hong Kong, France, Scotland, Germany, Ireland, Spain, Luxembourg, India, Italy, Sweden, Norway, Denmark, Switzerland, and Finland. Monster is the official online career management services sponsor of the 2002 Olympic Winter Games and 2002 and 2004 U.S. Olympic Teams. More information about Monster is available at www.monster.com or by calling 1-800-MONSTER.

Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward- looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions, competition, seasonality and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.

CONTACT: Weber Shandwick Christian Harper 212/445-8135 charper@webershandwick.com or TMP Worldwide David Rosa 212/351-7067 david.rosa@tmp.com

SOURCE: TMP Worldwide Inc.