Randstad N.V. — M&A Activity 2008

Jul 11, 2008

Randstad Holding nv

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Press release Randstad sells Randstad Portugal

Date July 11, 2008 More information Lester Koele Machteld Merens Telephone +31 (0)20 569 56 23

Randstad Holding nv announces it has reached agreement with Kelly Services, Inc. to sell the activities of Randstad Portugal. The agreement is in line with the decision to divest the Randstad business in Portugal, which was made in the process of obtaining clearance from the European Commission for Randstad's acquisition of Vedior N.V. as announced on March 28, 2008. The other activities in Portugal which are now part of the Randstad Group as a result of the acquisition of Vedior N.V., notably the Select and Vedior activities and their associated entities, are not part of this transaction and will not be sold.

"I am pleased that we have found Kelly Services as a buyer this quickly", says Ben Noteboom, CEO Randstad Holding. "And that we can offer security to all involved. I am confident that the Randstad employees will feel at home at Kelly, which is a very reputable and service oriented company in our sector. The Randstad employees bring very relevant expertise in the Portuguese market to the table, especially since Kelly is not yet present in Portugal. We thank them for their contribution to Randstad and we wish them all the best in the new organization."

The divestment will not lead to changes in the announced total amount of expected synergies, consisting of € 80 million of annual run rate pre-tax cost savings and € 20 million annual tax savings. In 2007, Randstad Portugal generated € 47 million in revenue. The impact on full year net income at Group level is considered non-material. The transaction is subject to approval of the European Commission and is expected to close in the third quarter of 2008.

Randstad specializes in solutions in the field of flexible work and human resources services. Our services range from regular temporary staffing and permanent placement to inhouse, professionals, search & selection, and HR Solutions. Since acquiring Vedior in 2008, the Randstad Group is the second largest HR services provider in the world with major positions in Australia, Belgium, Canada, France, Germany, India, Luxembourg, the Netherlands, Spain, Switzerland, Poland, Portugal, and the southeastern United States. Randstad has over 34,000 employees working from 5,400 branches and inhouse locations in 53 countries around the world. Randstad and Vedior generated combined revenue of € 17.6 billion in 2007. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam exchange, where options for stocks in Randstad are also traded. For more information see www.randstad.com.