TMP Worldwide Inc. Acquires Microsurf.com
New York, NY - February 24, 2000 - TMP Worldwide Inc., (NASDAQ: TMPW; ASX: TMP) the leading provider of global recruitment solutions including the dominant Internet career portal, Monster.com, and the worlds largest Yellow Pages advertising agency announced on February 24, 2000, that it has completed its acquisition of Microsurf, Inc. TMP issued 344,545 shares of common stock (before giving effect to the previously announced 2 for 1 stock split) for all of the outstanding shares of Microsurf, Inc. The acquisition will be accounted for as a pooling of interests.
Microsurf, Inc. owns and operates a comprehensive network of consumer websites focused on relocation and other home services. Through websites such as MortgageQuotes.com and MoverQuotes.com, the Microsurf network enables consumers to make intelligent relocation and home financing decisions on the Internet.
The Microsurf network, in existence since 1996, provides consumers with real time, relevant, unbiased decision making tools. It is a market segment leader in terms of revenue, profitability and exposure and boasts a large installed base of repeat visitors. With approximately $4 million in annual Internet commissions and fees, on a pro-forma basis, the combined companies, including the recently acquired HW Group PLC., would have reported commissions and fees of approximately $628 million for the nine months ended September 30, 1999.
Andrew J. McKelvey, Chairman and CEO of TMP Worldwide, stated: “The agreement with Microsurf is in line with TMP's Internet strategy for both our Monster audience and our Yellow Pages division. Our principal goal is to continue the growth of our online product offerings while enhancing our offline business services. Microsurf's comprehensive information network provides access to websites that will help Monster.com consumers with relocation needs, thereby making the transition to a new job easier.”
“The benefit to our Yellow Pages business will be in our ability to provide to our customer base added services and advertising venues. About 30% of our Yellow Pages advertising billings is related to relocation and home services. In 1998, as part of our Yellow Pages programs, we visited or contacted well over 570,000 individual store
locations. This magnitude of client contact helps illustrate the scale of marketing and cross-selling opportunities the Microsurf network will provide to us,” continued Mr. McKelvey.
“We are enthusiastic about joining forces with a global Internet company with such a vast number of Fortune 500 clients,” said Isabelle Sherman, President of Microsurf, Inc. “TMP's vast Internet-based resources, as well as its solid brand name clients in Yellow Pages and recruitment, provide us with the opportunity to increase our own client base and makes us the destination of choice when it comes to looking for relocation and home financing information on the Internet.”
About TMP Worldwide
Founded in 1967, TMP Worldwide, now with more than 6,400 employees in 25 countries, is the on-line recruitment leader, one of the world's largest recruitment advertising agencies, and one of the world's largest executive 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.
Contact: Jim Treacy
(212) 527-8604
jtreacy@tmp.com
Lavine Surtani
(212) 445-8262
lsurtani@bsmg.com













