Acquisition

Robert Walters PLC
14 February 2001


Robert Walters plc acquires The Dunhill Group

Robert Walters plc, the global recruitment and HR outsourcing
consultancy, announces today the acquisition of 100% of the units of the
Dunhill Management Services Trust and 100% of the share capital of
Dunhill Management Services Group Pty Limited (together, the 'Dunhill
Group'), a leading provider of specialist recruitment services in
Australia, for an initial consideration of A$21.9 million (£8.2
million).  The acquisition is expected to be immediately earnings
enhancing after goodwill amortisation.

The Dunhill Group and management team will significantly enhance Robert
Walters plc's position in the Asia Pacific region.  The acquisition will
provide a broad national presence across Australia with six new
locations, including Brisbane, Adelaide and Perth and will strengthen
the existing Robert Walters offices in Melbourne and Sydney. The
acquisition will also give the Group significantly greater leverage to
compete for major national contracts.

The two companies are a strong strategic fit.  The Dunhill Group will
provide additional candidate sourcing channels for the Group's global
operations and enhance the Group's opportunity to place returning
candidates within the region. It will also expand the Group's product
offerings within Australia to include marketing, legal, HR, training and
outplacement alongside the existing Resource Solutions business.

In its audited consolidated financial statements for the financial year
ended 31 December 2000, the Dunhill Group reported pre-tax profits of
A$4.3 million (£1.6 million) on revenue of A$45.3 million (£17.0
million), with net assets being acquired of A$1.7 million (£0.6
million).

The initial consideration will be payable on completion of the
acquisition and will be satisfied 52.5% from existing cash resources and
47.5% by the issue of ordinary shares in Robert Walters plc.  Completion
is expected to take place by the end of March 2001.

A deferred consideration of up to A$13.2 million (£5.0 million) will be
payable in March 2002, dependent on the performance of the Dunhill Group
in 2001. 52.5% of the deferred consideration will be satisfied by a
further cash payment and 47.5% by the further issue of ordinary shares
of Robert Walters plc.

Robert Walters, Chief Executive of Robert Walters plc, commented on the
acquisition:

'This acquisition represents an opportunity to acquire a well respected
and leading company and an excellent management team. This deal will
transform Robert Walters into one of Australia's leading recruitment
players and will give the company a broader platform to further become a
major force in the Asia Pacific region.'

'The deal brings benefits for Robert Walters' operations outside the
region including securing new supply channels in a diverse range of
sectors. The Dunhill Group will provide a gateway to new talent and will
complement our existing infrastructure.  This will enhance our ability
to service clients and candidates globally.'

Further enquiries:

Robert Walters/Philippa Brook, Robert Walters Group    [phone]

Patrick Handley/Deborah Done, Brunswick Group Limited  [phone]

Nick Bowers, Credit Suisse First Boston                [phone]

Notes to Editors

Robert Walters plc

Robert Walters is a leading global recruitment consultancy, specialising
in placing high calibre professionals into permanent, contract and
temporary positions at all management levels.  The group specialises in
the accounting, finance, IT, management consultancy, legal, call centre
and support fields.  Robert Walters' blue-chip client base ranges across
leading investment banks and multi-national corporations covering a
diverse range of market sectors.

Established in 1985, Robert Walters has built a global presence with 17
offices spanning five continents.  It employs over 830 staff worldwide
generating turnover in excess of £216 million.

The Dunhill Group

The Dunhill Group is one of Australia's leading recruitment service
providers with expertise in both recruitment and human resource
solutions. Founded in 1990, the Group now has offices in every mainland
Australian state and over 150 specialist staff. Dunhill is a broad-based
recruitment consultancy offering flexible recruitment services for long
and short term staffing requirements with services including Executive,
Personnel and Contracting to meet clients' individual needs across a
diverse range of industries.