Monster worldwide acquires 40% stake in ChinaHR.com holdings ltd

Monster Worldwide, the parent company of the leading global online careers property, Monster(R), today announced that it has acquired a 40 percent stake in ChinaHR.com Holdings Ltd. (ChinaHR), the owner of ChinaHR.com, for U.S. $50,000,000.

ChinaHR.com is one of Chinaís leading and most widely recognized online recruitment Web sites, with approximately 3.2 million registered users and more than 280,000 corporate clients. ChinaHR.com has been a pioneer in Chinaís online recruitment industry since 2000. With operations in 10 major Chinese cities and growth plans in additional markets in the upcoming year, ChinaHR.com has a staff of 480 employees.

As a result of the transaction, Monster Worldwide will initially occupy three of seven seats on ChinaHRís Board of Directors. Monster Worldwide will also have certain rights and obligations to acquire a 51% or more interest in ChinaHR in the event of an initial public offering or 3 years, whichever comes first.

With a population of 1.3 billion and per capita net income growth of approximately 6.8% in 2004, China saw its economy expand at a growth rate of 9.5% last year - its fastest pace in eight years. While we estimate that farmers represented 80% of the population 20 years ago, today that number has fallen to roughly 60 to 65%, as an increasing number of farmersí sons and daughters have settled in urban areas. Chinaís number of newly employed urban residents recently reached 9.8 million and its urban registered unemployment rate dropped to 4.2% at the close of 2004. China currently has a population of 94 million Internet users.

Gaining a foothold in this key area of the Asia Pacific region represents another step in Monsterís global growth strategy of entering foreign markets where significant current and future opportunity exists. With the worldís largest population and fastest growing economy, we believe that Chinaís rapidly growing recruitment marketplace currently represents a great opportunity, said Andrew J. McKelvey, Chairman and CEO of Monster Worldwide. We are confident that this is the right time for us to enter the Chinese marketplace and that ChinaHR.comís significant customer base, user base and strong brand awareness make them the ideal partner. Additionally, the company has established relationships with more than 100 Chinese colleges and universities and is consistently ranked as the top university student recruiting service.

We are extremely pleased to partner with Monster, the global leader in online recruitment, and begin leveraging its proven methodologies to fully capitalize on the tremendous recruitment market opportunity in China, said Kathy Xu, Chairperson of the Board of ChinaHR.com Holdings Ltd.

www.ChinaHR.com