Acquisitions in France and Netherlands

Hays PLC 7 February 2000 (£1 = Pta 276) Acquisitions strengthen Personnel in France and Netherlands Mail & Express operations move into Spain Hays plc has acquired three growing specialist recruitment agencies, Sedi and MD Concept in France and Roozen & van Hoof in the Netherlands for a total initial cash consideration of £21.8m, net of existing cash balances acquired. Further cash payments of up to a maximum of £6.0m may become payable depending on the level of future profits. In addition Hays has acquired DUN and Driver Pack - two time critical overnight delivery businesses based in Spain, for a total initial cash consideration of £7.7m. Further cash payments of up to a maximum of £4.3m may become payable depending on the level of profits of DUN and Driver Pack in the two years ending 31 December 2001. Personnel Sedi provides IT staff for software development, maintenance and consultancy projects in France. Established in 1979 and based in Paris, it employs 200 IT consultants who undertake projects for major French and international banks and insurance companies, as well as large manufacturing and technology businesses. In the year to 31 December 1998, Sedi had an operating profit of FF 7.4m (£0.7m), revenue of FF 88.0m (£8.6m) and net assets, excluding cash, of FF 4.0m (£0.4m). MD Concept is also based in Paris and is involved in the provision of IT staff. It has a blue-chip customer base focused on the financial services, manufacturing and new technologies. In the year to 31 December 1998, MD Concept had an operating profit of FF 9.0m (£0.9m), revenue of FF 71.3m (£6.9m) and net assets, excluding cash, of FF 3.2m (£0.3m). Roozen & van Hoof is involved in the recruitment of professional and middle management staff to large corporate customers. Through a network of 10 offices in the Netherlands, it offers search and selection, file search, consultancy and psychological testing services. For the year to 31 December 1998, it had an operating profit of NLG 1.0m (£0.3m), revenue of NLG 7.6m (£2.2m) and net assets, excluding cash, of NLG 0.6m (£0.2m). Mail & Express DUN and Driver Pack are specialist, overnight, time-critical delivery businesses servicing the optical, travel, medical, dental, IT and finance sectors across Spain. Based in Barcelona and Madrid respectively, both businesses have a first class reputation and strong customer base. They complement Hays existing operations and support the company's strategy of becoming a leading European specialist mail and express business operating in niche markets. In the year to 31 December 1998, DUN had an operating profit of Pta 62.5m (£0.2m) and net assets, excluding cash, of Pta 526.0m (£1.9m). For the same period, Driver Pack had an operating profit of Pta 75.0m (£0.3m) and net assets, excluding cash, of Pta 43.2m (£0.2m). Unaudited management accounts for the twelve months to 31 December 1999 show that DUN had an operating profit of Pta 80.0m (£0.29m) and Driver Pack had an operating profit of Pta 87.0m (£0.31m). Commenting on these acquisitions, Ronnie Frost, Chairman of Hays plc, said: 'Sedi and MD Concept strengthen Hays' position in the French IT contracting sector, and complement Sitinfo which we acquired in late 1998. Both businesses have strong technical skills, which will enhance the range of services we offer in the French IT market. Roozen & van Hoof is very well established in the Dutch recruitment market and provides good geographic coverage which gives us an excellent base from which to expand the business into new sectors. DUN and Driver Pack represent not only new opportunities in markets familiar to Hays Mail & Express Services, but also, they are a perfect strategic fit which will support our overall objective of becoming the leading specialist business of its kind throughout Europe.' For further information, please contact: Ronnie Frost, Chairman Hays plc 01483 302 203 Andrew Grant / Corinne Daniels Brunswick 020 7404 5959 Note to editors Hays plc Hays plc is a leading business to business group providing a range of added value specialist and quality services to industrial, commercial and professional customers throughout Europe. Activities include supply chain management, logistics, mail services, business process outsourcing and staffing services. Listed in 1989 and now a FTSE 100 company, Hays employs over 24,000 people. For more information, visit the Company's website at www.hays-plc.com Hays Personnel Hays Personnel is the largest specialist staff agency in the UK with a strong presence in the Accounting, Banking, Insurance, Construction and IT sectors. It has already established a strong presence in specialist recruitment in Continental Europe through its agencies: Hays Alpha (Banking and Insurance staff) and Hays Sitinfo (IT staff) in Paris, and Hays International in Prague and Dublin. In addition the recent UK acquisition of Hutchinson Smith in November 99 consolidated our position in specialist IT markets. Hays Mail & Express Under the umbrella brand of Hays DX, the company offers a range of mail and express-related services. Hays DX is a leader in its chosen sectors in the UK, France, Belgium and Ireland, handling the early next day delivery of around 2.5 million items each night. DUN employs 120 staff and around 100 sub-contracted drivers. Driver Pack has 80 staff and around 50 sub-contracted drivers. DUN has 7 branches nationwide, and Driver Pack has 5 branches.

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