TMP Worldwide Sets Record Date and Stock Distribution Ratio for Planned Spin-off of Hudson Highland Group, Inc.

NEW YORK, Mar 14, 2003 (BUSINESS WIRE) -- 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 its Board of Directors has approved the record date and stock distribution ratio for the planned spin-off of its eResourcing and Executive Search units, which will operate as a separate company known as Hudson Highland Group, Inc.

The Board approved a pro rata distribution to TMP stockholders of 100% of the outstanding shares of common stock of Hudson Highland Group, Inc. Each TMP stockholder of record as of the close of business on March 14, 2003, will receive one Hudson Highland Group share for every 13-1/3 shares of TMP common stock held on that date. The Company expects the spin-off to be completed and the tax-free distribution to take place on March 31, 2003, pending Hudson Highland Group's registration statement on Form 10 being declared effective by the Securities and Exchange Commission.

In connection with the distribution, "ex-distribution" trading in shares of TMP common stock will commence on March 17, 2003 and "when-issued" trading in shares of Hudson Highland Group common stock is expected to commence on such date or promptly thereafter. Hudson Highland Group common shares have been admitted for trading on the Nasdaq National Market under the symbol "HHGP" following completion of the distribution.

About TMP Worldwide

Founded in 1967, TMP Worldwide Inc., with more than 8,500 employees in 32 countries, is the online recruitment leader, the world's largest Recruitment Advertising agency network, and one of the world's largest Executive Search & Executive Selection agencies. TMP Worldwide, headquartered in New York, 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 55.8 million unique visits during the month of January 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

Copyright (C) 2003 Business Wire. All rights reserved.