Synergie SE — Earnings Release 2009

May 14, 2009

2009 first-quarter revenue: €205.5 million

Despite particularly challenging conditions for start of the year, SYNERGIE Group had consolidated revenue of €205.5 million in the 2009 first quarter compared with €291.9 million in the same period last year.

France

By consistently pursuing its original strategy of developing the segment of small and medium-sized companies, SYNERGIE had first-quarter sales of €139.1 million in France. This represented a decline of 29.6% compared with 35% for the market overall according to the indicator published by Prisme, highlighting the Group's greater resilience relative to most of its peers.

Diversification measures initiated in 2008 have produced positive results that were further accelerated by the development of outplacement and HR services. Job placement services registered gains of 10%.

Europe and Canada

With economic trends in other markets comparable to those in France, SYNERGIE's International operations have demonstrated the same level of resilience. On this basis, the entire network had revenue of €66.4 million in the quarter.

Financial position

As announced when the annual results were published, strategic measures have been adopted (tighter control of fixed costs, grouping of agencies, rigorous management of trade receivables, acceleration of business diversification, etc.) to focus the efforts of all employees on preparing for the anticipated recovery and laying the groundwork for achieving further gains in market share.

The Group has a solid financial structure and positive net cash. This reinforces its ability to take advantage of potential external growth opportunities that will allow it to pursue its development as a leading provider of Human Resources Management solutions.

At the combined Annual General Meeting of 18 June 2008, shareholders will be asked to approve a dividend of €0.50 per share.

SYNERGIE, listed on Eurolist Compartment B of NYSE Euronext Paris (ISIN FR0000032658), is a leading independent provider of global human resources management services with a network 523 agencies in Europe and Canada. SYNERGIE is included in the CAC Small 90, CAC Mid and Small 190 and SBF 250 indices.

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www.synergie.fr