TMP Worldwide Launches Latin American Recruitment Business; Acquires Search and Selection Firm in Brazil And Welcomes New Team of Executive Search Talent

Acquisition of Sao Paulo-based Simon Franco Recursos Humanos is the Company's First Direct Investment in Latin America TMP Also Retains Four Professionals From Spencer Stuart, Sao Paulo

NEW YORK--(BUSINESS WIRE)--Dec. 20, 2000--TMP Worldwide (NASDAQ: TMPW; ASX: TMP), the leading global provider of career services and solutions, including the preeminent Internet career portal, Monster(R).com, and a leading executive search and selection firm, today announced the launch of its Executive Resourcing and Executive Search operations in Brazil through the acquisition of Simon Franco Recursos Humanos S/A and related entities and the retention of four top professionals from Spencer Stuart's Sao Paulo office-- Dolph Johnson, Francisco Britto, Luiz Wever and Nelson Pigossi. The acquisition of Simon Franco Recursos Humanos, a premier Sao Paulo-based search and selection firm, marks the first acquisition for TMP Worldwide in Latin America. The terms of the deal were not disclosed.

Since its founding in 1978 by Simon Franco, Simon Franco Recursos Humanos (SFRH) has grown to become one of Brazil's leading recruiting companies. Over the last 22 years, the firm has partnered with both national and multi-national companies, and has placed more than 4,000 CEOs, Presidents, Directors and Controllers in the areas of Marketing, Operations, Human Resources, Information Technology, Accounting and, more recently, eCommerce, Internet and telecommunications.

"Simon Franco Recursos Humanos greatly complements our global search and selection capabilities into new and emerging markets, not to mention what its sizable candidate database will mean for Monster.com," said Andrew McKelvey, Chairman and CEO of TMP Worldwide. "In addition, Simon Franco is a high profile individual in Brazil, with daily appearances on Brazilian radio and a regular column in Brazil's leading business magazine, Exame. No doubt he will greatly enhance our ability to raise the brand awareness of TMP Worldwide and Monster.com throughout the region."

TMP Worldwide's launch in the region comes at an auspicious time for investment in Brazil. Over the past three years, Brazil has seen strong GDP growth, and has enjoyed relatively low unemployment and inflation, making it a logical starting point for Latin American investment opportunities. This has led to a surge in demand for a variety of recruitment services.

SFRH's founder Simon Franco added, "Over the years, we have been approached by many other companies, none of which could offer the model, infrastructure and dynamism of TMP Worldwide. It is a perfect fit for us, and we hope to become the prototype for future TMP Worldwide operations in Latin America."

Andrea Wine, Managing Director, TMP Worldwide Latin America, based in Sao Paulo, said, "The launch of our integrated executive resourcing and executive search operations in Latin America has begun here in Brazil today. Simon Franco Recursos Humanos is a highly-respected player in the Latin American market. We looked very carefully for the best firm with which to begin our Latin American strategy - we wanted a market leader and we certainly found one. SFRH shares our entrepreneurial spirit, our commitment to quality and our vision of change in the world of human capital management. Dolph, Francisco, Luiz and Nelson are proven executive search professionals and, as a team, give TMP Worldwide Executive Search representation in all of our major industry practices.

In his role as Director, Business Strategy and Development, Latin America, reporting to Ms. Wine, Simon Franco will focus on growth and diversification strategies both in Brazil and in the region. Mauricio Franco will assume the role of General Manager, TMP Worldwide Executive Resourcing, Brazil.

Andrew Banks, CEO of TMP Worldwide Executive Resourcing, said: "This acquisition enables us to service our growing global client base and also to deliver truly integrated recruitment solutions. Dolph, Francisco, Luiz and Nelson joining TMP, demonstrates our ability to attract top international executive search talent to TMP Worldwide. We are pleased to welcome them, as well as Simon and Mauricio Franco, to our team."

Steve Potter, CEO, TMP Worldwide Executive Search, said, "SFRH is a premier firm in its own right, but equally as important, this acquisition represents an excellent platform from which we can conduct our Latin American recruitment expansion. And we've already begun to build a strong Latin American executive search practice with the retention of Dolph Johnson, Francisco Britto, Luiz Wever and Nelson Pigossi--four highly-rated executive search professionals from Spencer Stuart. This is a great way for us to start."

Mr. Johnson has been appointed Director, Executive Search, Latin America, reporting to Andrea Wine, and will head the company's Latin American financial services practice, playing a major role in the strategic development of the business in Latin America. He has more than 25 years of executive search experience in the region, the last 20 with Spencer Stuart, where he established their offices in Buenos Aires and Santiago. Mr. Johnson was a member of Spencer Stuart's Financial Services and Consumer Goods Worldwide Practice Groups and formerly Head of Financial Services for South America.

Mr. Britto has been appointed head of the Technology, Internet and New Media practices in Latin America. At Spencer Stuart he was a consultant in the firm's Marketing, Communications, Telecommunications and High-technology practices, and was the regional head of the Internet practice. Before that, Mr. Britto had a successful career as a senior marketing and advertising executive.

Mr. Wever is joining TMP Worldwide as an executive search consultant in the company's Industrial and Consumer Products and Services Sectors. In his three years with Spencer Stuart, he was a member of their Industrial, Consumer Goods and Financial Services practices, before which he spent 12 years in marketing and business unit management with Brazilian and global companies.

Mr. Pigossi, who, in addition to his executive search experience, has had a lengthy career in management and IT consulting at such esteemed companies as Booz Allen and Cambridge Technology Partners, joins TMP Worldwide as a member of the Technology, Internet and New Media practices.

About Simon Franco Recursos Humanos

Simon Franco Recursos Humanos was founded in 1978 by Simon Franco. The firm specializes in both executive search, assessment and mid-market recruitment. Over the last 22 years, the firm has placed more than 4,000 CEOs, Presidents, Directors and Controllers in the areas of Marketing, Operations, Human Resources, IT, eCommerce, Accounting and Finance. SFRH has made a strong commitment to technology, which will enable it to rapidly implement an Internet recruiting model, and is well positioned to take advantage of the booming Brazilian economy.

About TMP Worldwide

Founded in 1967, TMP Worldwide Inc., now with more than 8,750 employees in 31 countries, is the online recruitment leader, the world's largest recruitment advertising agency network, and one of the world's largest Executive Search and Executive 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, headquartered in Maynard, Mass., is the leading global careers Web site, recording over 18.3 million visits during the month of November 2000 according to independent research conducted by I/PRO. Monster.com 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.com 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, Germany, Spain, and Ireland. More information about Monster.com is available at www.monster.com or by calling 1-800-MONSTER. Monster.com is the flagship brand of the Interactive Division of TMP Worldwide Inc. (NASDAQ: "TMPW"; ASX: "TMP").

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.

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