Monster worldwide reports fourth quarter and full year 2004 results

Diluted EPS Increases 82% to $0.20 on 45% Year over Year Revenue Gain

Monster Divisionís Revenue Reaches $172 Million, Up 64% From a Year Ago

Deferred Revenue at Monster Division Sets New Record of $230 Million

Gross Cash Position Increases 69% Sequentially to $198 Million

Monster Divisionís Operating Margin Expands to 23%, Up From 18.2% in Q3 2004

Monster Worldwide, Inc. The parent company of the leading global online careers property, Monster(R), the worldís largest Yellow Pages advertising agency, and one of the worldís largest Recruitment Advertising agency networks, today reported financial results for the fourth quarter ended December 31, 2004.

Fourth Quarter Results
Monster Worldwideís total revenue increased 45% to $236.8 million in the fourth quarter of 2004 from $163.2 million in the comparable quarter last year. The strong revenue growth was driven by exceptional global sales performance at the Monster division, a solid increase in the Companyís Advertising & Communications business in North America and contributions from acquisitions made earlier in the year. The Monster division recorded revenue of $172.2 million, a 64% increase over last yearís fourth quarter level of $104.9 million. Sequentially, the divisionís revenues grew 9% over the $157.7 million reported in the third quarter of this year. Organic revenue growth over the 2003 fourth quarter was 28%. The Monster divisionís deferred revenue balance was a record $230.1 million, an increase over the $195.4 million for this yearís third quarter and a 50.2% gain over the $153.2 million recorded in last yearís fourth quarter. Consolidated net income for the fourth quarter doubled to $24.5 million from the $12.1 million reported in the fourth quarter of 2003. Consolidated net income includes a gain on the sale of the Companyís US Motivation business, significantly offset by a loss on the sale of certain continental European AdComms operations, both of which are reported as discontinued operations. Diluted earnings per share were $0.20 for the current quarter versus $0.11 for last yearís comparable quarter.

Our strong global performance in the fourth quarter capped off a terrific 2004 for Monster Worldwide, said Andrew McKelvey, Chairman and Chief Executive Officer of Monster Worldwide. We executed on our aggressive plan to increase profits and expand the Monster franchise. As these results demonstrate, we successfully improved our operational efficiencies, while growing our client base, and enhancing our breadth of offerings.

By going after small and medium-sized businesses and taking market share from newspapers and by expanding our global footprint in key markets such as Europe and India, we unleashed the true potential of Monster in 2004. With our world-class sales operation, innovative products and services, including our successful eCommerce channel, and the continued migration of recruitment to the Internet throughout the world, we are well positioned to continue our solid growth as we enter 2005.

Cash generated from operating activities was $44.1 million in the fourth quarter of 2004, a $10.7 million increase over the $33.4 million of cash from operating activities in the comparable 2003 quarter. The Companyís cash position was $198.1 million at December 31, 2004. Cash and cash equivalents at September 2004 and December 2003 were $117.2 million and $142.3 million, respectively. Net cash at December 31, 2004 increased to $134.9 million from the $60.2 million reported at September 30, 2004.

Full Year Results Highlights

Total Revenue Grows 30% to $846 million

Monster Division Revenues Increase 44% to $594 million

Diluted Earnings Per Share From Continuing Operations rise to $0.62

Monster Worldwide reported total revenue of $845.5 million for the year ended December 31, 2004, compared to $652.2 million in the comparable prior year period. Income from continuing operations was $74.3 million, or $0.62 per diluted share, compared to income from continuing operations of $6.7 million, or $0.06 per share in the prior year period. Non-GAAP income from continuing operations was $43.0 million, or $0.38 per share for the year ended December 31, 2003. Full year net income was $73.1 million or $0.61 per diluted share, compared to a loss of $81.9 million or $0.72 per share in the prior year period.

Recent Developments/Operating Highlights
In 2004, the Monster Employment Index rose a total of 26 points, an increase of 36%, and registered increases in 10 out of 12 months. On April 1st, Monster released the first results of the Monster Employment Index, a broad and monthly analysis of American online job demand. The Company established the Index to provide U.S. labor market watchers with a valuable snapshot of U.S. online recruiting activity. The Index offers an extensive range of sub-indices by industry, occupation, and geographic region, including all 20 NAICS (North American Industry Classification System) industries, 23 occupational categories, all 50 states and the nine U.S. Census regions.

Monsterís eCommerce Channel, a self-service process that lets hiring managers post one job or many, made significant inroads with small and medium-sized businesses -- a large part of the market that is now online but still using the newspapers classifieds. The effectiveness of stepped-up on- and offline advertising is reflected in eCommerceís growth since the beginning of the year.

In late December 2004, Monster announced the launch of its January Jobs Campaign for the New Year to help Americans find employment in their local communities. The campaign culminated in Monsterís Ultimate Career Day on February 1st, a Career Day online and across 180 local market Infinity Radio stations in 41 U.S. Markets. Monster motivated U.S. employers to list new jobs with one free posting for seven days, and incentivized job seekers to begin their search with a chance to win a $50,000 bonus.

Outlook
In the first quarter of 2005, the Company currently anticipates that the Monster division and total Company revenue will increase sequentially from the fourth quarter of 2004, representing a significant gain over the first quarter of 2004. Expense levels in the first quarter are expected to increase due to seasonally higher marketing and promotion expenses in North America and a strategic investment in marketing activities in Europe. As a result, earnings are expected to be in the range of $0.16 to $0.17, an increase over the $0.11 reported in the first quarter of 2004.

The Company currently anticipates that in 2005 it will significantly increase revenue and earnings while continuing to invest to take advantage of the large global online recruiting market opportunity. The Company anticipates that revenue growth for Monster Worldwide will be 20% and even higher for the Monster division while generating diluted earnings per share growth of 35% - 45% on a consolidated basis.

These assumptions are based on current information and operations and do not include the effect of any possible dispositions, acquisitions or implementation of accounting rule changes which may have an impact on future financial results.