Monster Worldwide Reports Third Quarter and Nine Months 2006 Results

A Revenue Increases 38% to $286 Million A Income from Continuing Operations Reaches $40 Million, or $0.31 Per Diluted Share A Net Loss, Including Discontinued Operations, of $0.64 Per Diluted Share A Net Cash Increases to $548 Million from $449 Million at June 30, 2006 A Company Provides Update on Historical Stock Options Grant Review

We are pleased to report yet another quarter of significant revenue growth and strong earnings performance. Our strong operating and financial results reflect superior execution by our sales, product and customer service teams across the organization, said William Pastore, Chief Executive Officer and President of Monster Worldwide. The quarter’s results were driven by accelerated revenue growth of 73% in the International segment, which now represents almost one-third of Monster Careers revenue, and a 49% increase in revenue in our Internet Advertising and Fees business. Following the sale of our North American recruitment advertising agency during the quarter, our transformation into a global business singularly focused on Monster and the Internet is now complete. Monster is better positioned to capitalize on the opportunities inherent in the high growth interactive market. We continue to operate efficiently in serving our expanding customer base and enhancing the job seeker experience, all while investing in our business for future growth. The long term opportunity in front of Monster today looks as large and exciting as it ever has, and we intend to capitalize on Monster’s global reach and healthy financial condition to innovate continuously, expand our seeker and employer customer base, and deliver attractive returns for shareholders.

Third Quarter 2006 Results
Monster Worldwide revenue grew 38% overall and 33% organically to $285.9 million in the 2006 third quarter from $206.8 million in the comparable quarter of 2005. Results exclude the TMP Worldwide Advertising and Communications business in North America which was sold on August 31, 2006, and is reflected as discontinued operations for all periods presented.

Monster Careers revenue increased 37% to $244.3 million compared to $178.9 million in the third quarter of 2005. Internet Advertising and Fees revenue grew to $41.6 million, a 49% gain over the $27.9 million reported in last year’s comparable quarter.

Monster’s deferred revenue balance at September 30, 2006 was $346.7 million, representing a 41% increase from last year’s third quarter balance of $246.8 million.

Income from continuing operations was $40.1 million while diluted earnings per share from continuing operations were $0.31 in the third quarter of 2006. Reflecting the loss on the disposal of the TMP Worldwide North American Advertising and Communications business, the loss from discontinued operations, net of tax, was $123.9 million, and includes approximately $133 million of goodwill and other intangibles included in the net assets sold. As a result, the net loss for the third quarter of 2006 was $83.8 million, or $0.64 per diluted share.

At September 30, 2006, the Company’s net cash position was $548.4 million compared with $449.2 million at June 30, 2006.

Nine Months 2006 Results
Monster Worldwide reported total revenue of $818.1 million for the nine months ended September 30, 2006 compared to $594.5 million in the comparable period last year, a 38% increase. Monster Careers revenue grew 37% to $706.1 million compared with $515.7 million in the 2005 nine month period. Internet Advertising and Fees reported revenue of $112.0 million, an increase of 42% over the prior year period. For the nine months ended September 30, 2006, Monster Worldwide reported income from continuing operations of $113.4 million, or $0.86 per diluted share and, after the loss from discontinued operations, reported a net loss of $1.9 million or $0.01 per diluted share.

Update to Historical Stock Options Grant Review
Due to the ongoing independent review and the potential impact of stock-based compensation expense and related tax matters in prior periods, the Company is not providing full comparative GAAP financial results for the three and nine months ended September 30, 2005, and is providing only selected cash flow and balance sheet data for 2006.

As previously disclosed, a committee of independent members of the Board of Directors, (the Special Committee) with assistance of outside legal counsel, has been conducting an internal review and analysis of all stock options previously issued by Monster Worldwide. Although the Special Committee has not yet completed its review, the Company anticipates that a conclusion of the investigation will indicate that the exercise price of a substantial number of stock option grants during the period under review differed from the fair market value of the underlying shares on the recorded measurement date. The Company is still conducting its accounting analysis and has not yet determined the impact of these differences on the Company’s historical financial statements. However, the Company expects that it will restate its previously filed financial statements for the years 1997 through 2005. The Company believes that the anticipated restatements will not have a material impact on 2006 earnings.

Accordingly, the Company’s Board of Directors concluded that the Company’s previously issued financial statements and other historical financial information and related disclosures relating to periods through December 31, 2005 contained in the Company’s filings with the Securities and Exchange Commission, including applicable reports of its independent registered public accounting firm and press releases, should not be relied upon.

Additionally, a NASDAQ Listing Qualifications Panel has granted the Company’s request for continued listing of the Company’s securities on The NASDAQ Stock Market. Monster Worldwide’s continued listing is subject to certain conditions, including: (1) on or before December 13, 2006, the Company must file its Form 10-Q for the quarter ended June 30, 2006, as well as any necessary restatements; and (2) on or about November 3, 2006, the Company must submit to NASDAQ additional information regarding the Company’s independent review of its historical stock option practices and related accounting.

Recent Developments

Monster Worldwide Promotes William Pastore to Chief Executive Officer; Andrew McKelvey Resigns After 39 Years of Service
On October 9, 2006, Monster Worldwide announced that its Board of Directors promoted William Pastore to the position of Chief Executive Officer and appointed him to the Board of Directors. Mr. Pastore, who joined the Company in October 2002 as Chief Operating Officer, has directed all of the Company’s operations, overseeing strategic planning and tactical execution in North America, Europe and Asia. Mr. McKelvey will remain on the Company’s Board of Directors and has been elected Chairman Emeritus. In addition, the Board of Directors established an Executive Committee of the Board, consisting of independent directors Sal Iannuzzi, Chairman of the Executive Committee, John Gaulding and Ron Kramer.

Monster Forms Strategic Alliance With Newspaper Publisher In Akron, Ohio
Monster Worldwide announced its second strategic newspaper alliance designed to drive local market growth. Similar in structure to Monster’s recent alliance with Philadelphia Media Holdings, LLC, the alliance with the Akron Beacon Journal will bring online and offline recruitment services to employers and job seekers across northeast Ohio. The centerpiece of this alliance is a co-branded job search and recruitment website combining the strength of Monster’s brand and product portfolio with the local expertise and distribution clout of Akron’s sole daily newspaper, the Akron Beacon Journal, and its website, www.ohio.com, which also covers the greater Cleveland market. The alliance was announced on October 18, 2006.

Monster Worldwide Sells Remaining TMP Worldwide Advertising and Communications Business
On August 31, 2006, Monster Worldwide sold its TMP Worldwide Advertising and Communications business in North America. The sale completed the divestiture of Monster Worldwide’s global recruitment advertising agency business and allows Monster to focus its resources on the continued global growth of its brand.

Monster Launches In Two New International Markets: Mexico and the Gulf Region
In August 2006, Monster announced the launch of Monster Mexico (www.monster.com.mx) as well as an exclusive site for the Gulf Region serving eight countries: United Arab Emirates, Kingdom of Saudi Arabia, Kuwait, Oman, Bahrain, Qatar, Jordan and Lebanon (www.monstergulf.com). Leveraging its global brand, product knowledge and longstanding recruitment industry expertise, Monster will work closely with the job seeker and employment communities in Mexico and the Middle East to expand the online recruitment industry, while developing solutions that best meet the local needs of these high growth economies and job markets.

Business Outlook
Monster continued to show strong, balanced revenue growth and gained market share in the third quarter, said Lanny Baker, Monster’s Chief Financial Officer. Entering the fourth quarter of 2006, we anticipate total revenue growth in the low 30% range reflecting healthy global demand for our online services. We expect to incur a one-time operating expense of $4 million pre-tax, or $0.02 per share, in the fourth quarter related to corporate right sizing. This initiative will significantly reduce expenses and will support greater operating efficiencies beginning in 2007. Monster has incurred approximately $4.5 million year to date in legal and consulting expenses related to the independent review of the Company’s historical stock option practices. The fourth quarter outlook anticipates ongoing expenses related to the review.