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TMP Worldwide Announces Name of New Company

TMP Worldwide Announces Name of New Company to Be Formed Through Spin-Off of eResourcing and Executive Search

AUCKLAND - Feb. 27, 2003 – TMP Worldwide Inc., the world's leading supplier of human capital solutions, today announced the name of the new, publicly traded company that will be formed through the spin-off of its eResourcing and Executive Search units. The new recruitment and search parent company will be known as Hudson Highland Group, Inc.

Under the new parent company, the former eResourcing business will assume two transitional names: TMP Hudson Global Resources, for the recruitment side of its business, and TMP Hudson Human Resource Consulting, for the consulting side.

Plans call for all uses of "TMP" within the new company to be phased out over a two-year period. TMP Worldwide will remain a stand-alone corporate entity comprised of Monster, Monstermoving, Advertising & Communications and Directional Marketing.

Anne Hatton, President, TMP Worldwide eResourcing Australasia said the name change will allow the company to capitalise on the strong brand equity they already enjoy, whilst introducing a new element to the name.

"We now have the opportunity to demonstrate the substance that lies at the heart of our brand – who we are, what we do and how we do it. It is ultimately these values that will consolidate our position as the leader in the market," Ms Hatton said.

"Considerable time has been spent on developing a vision for our organisation which will facilitate the provision of commercially relevant and tailor-made solutions to our clients across the Australasian market," she said.

TMP Worldwide, General Manager - New Zealand, Mr Denis Horner, said the natural teaming of the business units into two separate companies will better align its resources around its clients and enable these enterprises to more effectively leverage their respective assets and maximise value for their customers.

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