Scheme of Arrangement Approved by Shareholders

HW Group PLC 12 January 2000 Not for release, distribution or publication in or into Canada, Australia or Japan. HW Group PLC Recommended acquisition of HW Group PLC by TMP Worldwide Inc. ('the Acquisition'). HW announces that the Scheme of Arrangement ('the Scheme') was approved by HW Shareholders at the Court Meeting held earlier today. The Court Meeting had been convened by order of the Court to approve the Scheme. The Scheme is being undertaken in order to implement the Acquisition. In addition, HW Shareholders also approved the special resolution required, inter alia, to facilitate the Scheme at the Extraordinary General Meeting, which followed the Court Meeting. Subject to a Court Hearing to sanction the Scheme, which is expected to be heard on 14 February 2000, it is expected that the record date for the Scheme will be the close of business on 15 February 2000 and the effective date of the Scheme will be 16 February 2000. Following the sanction of the Scheme by the Court each HW Share will be cancelled and HW Shareholders will receive TMP Shares calculated in accordance with the terms of the Acquisition set out in the Scheme Document dated 16 December 1999. HW Shares are expected to cease trading on the Official List of the London Stock Exchange at the close of business on 15 February 2000. The quotation of, and dealings in, the new TMP Shares to be issued to HW Shareholders are expected to commence on NASDAQ at 9.30 a.m. (New York time) on 17 February 2000. Words and expressions defined in the Scheme Document shall, unless the context otherwise requires, have the same meaning when used in this announcement. Enquiries: HW Group PLC Richard Mead/Graham Palfery-Smith 0207 240 2101 Credit Lyonnais Nicholas Naylor 0207 588 4000 Securities Credit Lyonnais Securities, which is regulated by The Securities and Futures Authority Limited, is acting for HW Group PLC and no-one else in connection with the Acquisition and will not be responsible to anyone other than HW Group PLC for providing the protections afforded to customers of Credit Lyonnais Securities, nor for providing advice in relation to the Acquisition.
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