Monster Provides Update on Stock Option Grant Practices and Schedules Conference Call and Webcast

Monster Worldwide, Inc., today announced an update on the independent review of past stock option grant practices and that the Company will release second quarter and six-month financial results for the period ending June 30, 2006, on Wednesday, July 26, 2006 before the market opens.

As disclosed earlier, a committee of independent directors has, with the assistance of outside legal counsel, been conducting an internal review and analysis of all stock option grants previously issued by the Company. Although the review is in its early stages, the Company believes that it may need to restate its financial statements for the year ended December 31, 2005 and prior years to record additional non-cash charges for stock based compensation expense relating to various stock option grants.

The Company has not yet determined which historical financial statements would be restated, the magnitude of the restatement, or the tax impact that may result from the matter. However the Company expects that a potential restatement would not have a material impact on 2006 earnings.

On July 26, 2006, management will conduct a live conference call, hosted by Andrew J. McKelvey, Chairman and Chief Executive Officer, and Lanny Baker, Chief Financial Officer, to review the Company’s quarterly results, market trends and outlook. The call also will be broadcast simultaneously over the Internet. Due to the ongoing independent review and the potential impact of stock-based compensation expense and tax related matters to prior periods, the Company will not be able to provide comparative financial results for the three- and six-month periods ended June 30, 2005. Similarly, the Company may not be in a position to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2006 on a timely basis pending the completion of the independent review.

The conference call is scheduled for 10:00 a.m. EDT on Wednesday, July 26, 2006. Individuals wishing to participate can join the conference call by dialing (888) 551-5973 at 9:50 a.m. and referencing conference ID#: 2261700. Those outside the United States should dial in on (706) 643-3467. Monster Worldwide’s quarterly conference call can also be accessed online through the investor information section of the company’s website at www.monsterworldwide.com