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TMP Worldwide Earnings Release For The Three Months Ended March 31, 1999

Total Revenue --Interactive Division Revenue

Up 18.0% to $179.9 million Up 161.1% to $20.1 million

Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)1

Up 33.6% to $20.6 million

Adjusted Net Income 2

Up 47.0% to $6.6 million, compared to prior year period net income of $4.5 million

Fully Diluted Adjusted EPS2

Up 50.0% to $0.18, compared to prior year period of $0.12

Fully Diluted Weighted Average Shares Outstanding

37.1 million

TMP WORLDWIDE REPORTS FIRST QUARTER RESULTS; RECORD-BREAKING INTERNET REVENUES

Fully diluted adjusted EPS up 50% to $0.18 for the first quarter of 1999; Company beats First Call analysts' expectations by 20%

Company's Interactive Division, led by Monster.com, reports revenue of $20.1 million, up 161.1% from the previous year, and it's fourth consecutive quarter of profitability

Company posts adjusted operating profit of $13.9 million

NEW YORK, May 4, 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 total revenue of $179.9 million for the first quarter ended March 31, 1999 compared to $152.5 million for the same period a year ago, an increase of 18.0%.

Adjusted net income increased 46.8%, to $6.6 million in the first quarter of 1999 from $4.5 million in the first quarter of 1998. Fully diluted adjusted earnings per share increased 50.0%, to $0.18 in the first quarter of 1999 from $0.12 in the first quarter of 1998, and is 20% greater than analysts' expectations.

The Consolidated Financial Statements for the three months ended March 31, 1998 have been restated to reflect the merger with Morgan & Banks Limited in January 1999 and five acquisitions completed in 1998, all of which have been accounted for as a poolings of interests.

Revenue growth and improved margins in Internet and temporary contracting, and higher margins in Search & Selection contributed to a 33.4% increase in adjusted operating profit to $13.9 million and a 33.6% gain in adjusted EBITDA to $20.6 million. Adjusted operating profit as a percent of total revenue was 7.7% in the first quarter of 1999, compared to 6.8% a year ago. Adjusted EBITDA as a percent of total revenue was 11.5% in the first quarter of 1999, compared to 10.1% in the first quarter of 1998.

Internet revenue for the first quarter of 1999 increased 161.1% to $20.1 million from $7.7 million in the first quarter of 1998. Recruitment advertising commissions and fees were $42.5 million for the first quarter of 1999, versus $43.5 million for the first quarter of 1998. The slight decrease in revenue reflects weaker help-wanted print markets in the U.S. and the UK, which were substantially offset by growth from acquisitions and internal growth in continental Europe. Yellow Page advertising commissions and fees for the first quarter of 1999 was $22.4 million, an increase of 2% from the prior year period. Commissions and fees for the company's Search & Selection operations were $40.1 million for the first quarter of 1999 versus $38.0 million in 1998, a 5.5% increase, due primarily to acquisitions in Europe.

Total commissions and fees as a percent of related billings for the quarter were 33.7% as compared to 30.8% for the first quarter of 1998. Temporary contracting revenue was $54.7 million, an increase of $13.4 million or 32.6% over $41.2 million for the first quarter of 1998, reflecting internal growth in our temporary contracting operations in Australia.

TMP's adjusted operating profit for the first quarter of 1999 of $13.9 million has been adjusted to exclude first quarter merger costs of $4.7 million – the majority of which were related to the merger with Morgan & Banks Limited – and includes $1.5 million for the amortization of employee stay bonuses incurred in connection with the company's 1998 acquisitions of Johnson, Smith & Knisely, a domestic executive search firm and The Consulting Group Ltd., a leading U.K. executive search company, which are being accounted for as poolings of interests.

Andrew J. McKelvey, chairman and CEO of TMP Worldwide stated: "As Monster.com has extended its online leadership in the careers and recruitment category, our profitability has improved dramatically, and was $400,000 in the first quarter of 1999. Total Interactive revenue was $48.5 million for the year ended December 31, 1998. In this quarter alone, the amount is $20.1 million, or 41% of last year's total, demonstrating just how rapidly this segment of our business is growing. Print is a mature industry, and we believe online media is fast becoming the central hub of help wanted advertising activity. TMP is well positioned to capitalize on its client relationships and leadership position to leverage the migration to online."

TMP's Interactive Division, anchored by Monster.com, has been extremely successful in building a leadership position in the online recruiting category worldwide. Beginning with the launch of the national advertising campaign during the Super Bowl this year, TMP has made a commitment to continue an aggressive television, radio and print marketing campaign to communicate its leadership position in online careers and increase brand awareness among consumers.

Mr. McKelvey added, "TMP's future value is based on our ability to drive profits to our Internet products. Our efforts in this arena will continue to grow as we seek to ensure that we remain the leader in online recruiting."

"Monster.com ranks as the number one global online network for careers. We are very pleased that Monster.com received the Editor's Choice award for best online job site in the May 25th issue of PC Magazine," said Jeff Taylor, CEO of TMP Interactive. "Far exceeding the reach of its nearest competitor, Monster.com receives 7.6 million unique visits per month, 82 million page views and a visit time of approximately 13 minutes. The site offers approximately 200,000 job opportunities and a resume database containing more than 1.3 million unique resumes. According to Media Metrix, the tracking of our numbers continues to show an increase in traffic with the audience reach rising almost 15% in March compared to January."

Mr. Taylor continued, "These outstanding achievements to date demonstrate our ability to execute our growth strategy. As all of our matrices show, we own the largest audience in our relevant market segment and we continue to sell effectively, through numerous sales channels, to existing and new clients."

"Investors who study TMP's various businesses will clearly see that we have established a leading global client service delivery infrastructure," commented Jim Treacy, COO of TMP Worldwide. "With our career portal Monster.com, we are able to help clients from our traditional businesses migrate their ad spending to the Internet, thereby providing them with greater reach at lower cost," continued Mr. Treacy.

"Meanwhile by integrating capabilities across business lines we are able to leverage synergies and take advantage of operating efficiencies, while maintaining leadership positions in each of our core industry segments," concluded Mr. Treacy.

Acquisition Strategy Continues –TMP Enters New Markets

In the first quarter of 1999, TMP continued to expand its global expertise by entering new markets in Europe and the U.S. with the acquisition of six agencies, and an online career site. Sources, a recruitment advertising agency based in France was acquired on January 13, 1999. Pol & Partners, a recruitment advertising agency based in Madrid, Spain, was acquired on February 8, 1999. Gem Personnel Select, a broadly based search & selection firm with offices in the Czech Republic, Hungary, Poland, Romania and Ukraine was acquired on February 18, 1999. Van Ram Associates International, a search & selection firm covering Belgium, the Netherlands and Luxembourg, with offices in Brussels, Gent, Antwerp and Amsterdam, was acquired on March 5, 1999. In the U.S. effective January 1, 1999, we acquired Milnat Associates, Inc., a Yellow pages company based in Rockville Centre, New York. On March 31, 1999, TMP acquired Paris-based JobSesame, a graduate-focused careers site with services encompassing school-specific targeting for graduate recruitment and internship listings. The company plans to integrate the JobSesame model into its Monster Campus as a means of enhancing online graduate recruiting efforts through out Europe.

On April 9, 1999 TMP acquired Ross Advertising, a recruitment advertising agency headquartered in Toronto, Canada. Effective May 1, 1999, TMP acquired the recruitment advertising business of Jobdesign ApS in Denmark.

The preceding acquisitions combined had annual commissions and fees of approximately $8.5 million.

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: risks associated with acquisitions, competition and seasonality. Additional factors are described in the company's reports filed with the Securities and Exchange Commission.

Founded in 1967, TMP Worldwide, has approximately 5,250 employees in 19 countries. The company'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 and Belgium and was launched today in 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.

A condensed consolidated statement of income for the first quarter ended March 31, 1999 for TMP Worldwide Inc. and subsidiaries follows. For an investment kit, please contact James J. Treacy at (212) 527-8604 or visit www.tmpw.com

1 EBITDA is adjusted to exclude the effect of $3.2 million in merger costs related to recently completed acquisitions accounted for as poolings of interests ($4.7 million of merger costs less $1.5 million for amortization of employee stay bonuses). 2 Net Income is adjusted to exclude the $3.4 million after-tax effect of merger costs related to recently completed acquisitions accounted for as poolings of interests.

TMP WORLDWIDE INC CONDENSED CONSOLIDATED STATEMENT OF INCOME For The Three Months Ending (in thousands, except per share amounts) (unaudited)

March 31, 1999

March 31, 1998

---------------

Gross Billings:

Recruitment

195,297

206,618

Yellow pages

113,147

108,012

Search & selection

40,813

38,057

Internet

22,435

8,536

Temporary contracting

54,690

41,242

===========================

=================

Total Gross Billings

426,382

402,465

===========================

=================

commissions & fees:

Recruitment

42,543

43,478

Yellow Pages

22,448

22,007

Search & selection

40,132

38,057

Internet

20,107

7,702

---------------------------

-----------------

Total commissions & fees

125,230

111,244

temporary contracting

54,690

41,242

---------------------------

-----------------

Total revenue

179,920

152,486

---------------------------

-----------------

Operating expenses:

Salary & related costs

77,675

63,708

Temporary contracting costs

45,416

38,886

Office & general

40,308

36,866

Merger costs

4,687

CEO bonus

375

Amortization of intangibles

2,634

2,243

---------------------------

-----------------

Total operating expenses

170,720

142,078

---------------------------

-----------------

Operating income

9,200

10,408

---------------------------

-----------------

Other income (expense):

Interest expense, net

(2,631)

(2,469)

Other

(108)

---------------------------

-----------------

Total other income (expense), net

(2,559)

(2,577)

---------------------------

-----------------

Income before taxes, minority interests & equity in losses of affiliates

6,641

7,831

Provision for income taxes

3,228

3,253

---------------------------

-----------------

Income before minority interests & equity in losses of affiliates

3,413

4,578

Minority interests

Equity in losses of affiliates

(100)

(87)

---------------------------

-----------------

Net income applicable to common and Class B common stockholders

3,214

4,475

===========================

=================

Adjusted net income:

Net income

3,214

4,475

Merger costs

4,687

Tax benefit of merger costs

(1,331)

===========================

=================

Adjusted net income

6,570

4,475

===========================

=================

Net income per common and Class B common share

===========================

=================

Basic

0.09

0.13

===========================

=================

Diluted

0.09

0.12

===========================

=================

Adjusted net income per common and Class B common share

===========================

=================

Basic

0.19

===========================

=================

Diluted

0.18

===========================

=================

Weighted average shares outstanding

===========================

=================

Basic

35,477

34,898

===========================

=================

Diluted

37,093

36,204

===========================

=================

Adjusted E B I T D A(a)

20,648

15,455

===========================

=================

Earnings before interest, income taxes, depreciation and amortization and adjusted to exclude the effects of merger costs for poolings. EBITDA is presented to provide additional information about the Company's ability to meet its future debt service, capital expenditures and working capital requirements and is one of the measures which determines the Company's ability to borrow under its credit facility. EBITDA should not be considered in isolation or as a substitute for operating income, cash flows from operating activities and other income or cash flow statement data prepared in accordance with generally accepted accounting principles or as a measure of the Company's profitability or liquidity.

TMP Worldwide Earnings Release For The Three Months Ended March 31, 1999

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