Monster Worldwide Reports Second Quarter 2006 Results

* Monster Revenue Grows 39% to $275 Million

* Diluted Earnings per Share from Continuing Operations of $0.31 on $41 Million of Income from Continuing Operations

* Net Cash Increases to $449 Million, an Improvement of $87 Million from the Prior Quarter

Monster Worldwide, Inc. today reported financial results for the second quarter and six months ended June 30, 2006.

We are very pleased to report outstanding second quarter financial results and an improved outlook for the full year. Monster’s significant revenue growth, strong earnings and healthy cash flow clearly reflect the successful execution of Monster Worldwide’s key strategic priorities, said Andrew J. McKelvey, Chairman and Chief Executive Officer of Monster Worldwide. All of our business units made solid contributions to the quarter’s strength. Monster Careers North America continued to serve as the cornerstone of our growth, delivering a 29% increase in revenue again this quarter, while our International operations and Internet Advertising and Fees business were truly standout performers with year over year revenue growth of 62% and 46%, respectively. The sale of the TMP Advertising & Communications business in Europe during the quarter enabled us to further tighten our focus on profitably expanding the Monster business globally. Our operating efficiency and the scale of our business supported continued margin expansion even as we prudently invested in sales, product and marketing initiatives to drive sustained long-term growth. Mr. McKelvey added, In the US, we are particularly excited about the opportunities created by our new partnership with Philadelphia Media Holdings, owners of the hometown newspapers and leading local online site serving Philadelphia, the nation’s fourth largest metropolitan market. This initiative reflects Monster’s broad commitment to expanding the online recruitment market by partnering with recognized market leaders. The Philadelphia partnership combines a strong and very local media presence with the industry’s most recognized and effective online recruitment products and services, allowing us together to serve more employers and job seekers more effectively.

Second Quarter 2006 Results
Total revenue grew 36% to $295.8 million in the 2006 second quarter from $217.0 million in the second quarter of 2005. Results exclude the TMP Worldwide Advertising & Communications businesses in Europe, which were sold in the second quarter. Monster revenue increased 39% to $275.2 million compared to $198.1 million in last year’s comparable quarter. Organic revenue growth for the Company and Monster was 33% and 35% respectively, in the second quarter year to year.

Monster Careers revenue increased 38% to $237.2 million compared to $172.0 million in the second quarter of 2005. Internet Advertising & Fees revenue grew 46% to $38.0 million versus the $26.1 million reported in last year’s comparable quarter. Advertising & Communications revenue, which now includes only results from North America, grew to $20.6 million, a 9% increase over the second quarter of 2005.

Monster’s deferred revenue balance at June 30, 2006 was $349.0 million, representing a 43% gain over the $244.6 million balance at the end of the 2005 second quarter.

Income from continuing operations was $40.9 million while diluted earnings per share from continuing operations were $0.31 in the second quarter of 2006. Net income for the second quarter of 2006 was $39.6 million, with diluted earnings per share of $0.30.

At June 30, 2006, the Company’s net cash position was $449.2 million compared with $273.3 million at December 31, 2005. In the second quarter of 2006, Monster Worldwide repurchased 114,584 shares of common stock for $5.9 million. An additional 500,000 shares of common stock were repurchased during the quarter upon settlement of the previously disclosed structured stock repurchase transaction.

Six Months 2006 Results
Monster Worldwide reported total revenue of $572.8 million for the six months ended June 30, 2006 compared to $426.3 million last year, a 34% increase. Monster grew revenue 37% to $532.2 million compared with $387.6 million in the 2005 period. Monster Worldwide reported income from continuing operations of $77.4 million, or $0.59 per diluted share. Net income for the first six months of 2006 was $81.9 million and diluted earnings per share, including the results of discontinued operations, were $0.62.

Important Disclosure Related to Historical Stock Option Grant Review
As previously disclosed on June 12, 2006, a committee of independent members of the Board of Directors, with assistance of outside legal counsel, has been conducting an internal review and analysis of all stock options previously issued by Monster Worldwide. In further press releases dated June 12, 2006 and June 14, 2006, the Company announced that the U.S. Attorney’s Office and the SEC, respectively, were conducting informal investigations of the Company’s past stock option grants. In a Form 8-K filed on July 12, 2006, the Company discussed three pending shareholder derivative suits filed against the Company.

On July 11, 2006, Monster Worldwide stated that while the review is in its early stages, the Company believes it may need to restate its financial statements for the year ended December 31, 2005 and prior years to record non-cash charges for compensation expense relating to various stock option grants. The Company has not determined which historical financial statements may be restated, the magnitude of the restatement, or the tax impact that may result from the matter. However, the Company believes a potential restatement would not have a material impact on 2006 earnings. On July 26, 2006, the Company filed a Form 8-K stating that investors should exercise caution in relying on the historical financial statements. 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 six months ended June 30, 2005, and is providing only selected cash flow and balance sheet data for 2006. In addition, it is likely that the Company will 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.

Recent Developments
Monster and Philadelphia Media Holdings, LLC Announce Strategic Alliance

Monster Worldwide and the new owner of the Philadelphia Inquirer, Philadelphia Daily News and philly.com announced a strategic alliance to deliver online and offline recruitment services to employers and job seekers in the nation’s fourth largest metropolitan market. The new co-branded web site will provide Delaware Valley area employers access to a broader set of online recruitment tools to more efficiently find and retain talent as well as a full spectrum of hiring solutions. Local market job seekers will benefit from a more compelling job search experience, enhanced career assistance resources and a larger array of job opportunities.

Monster Worldwide Names Additional Independent Director to Board
On July 11, Monster Worldwide’s Board of Directors elected Sal Iannuzzi, President and Chief Executive Officer of Symbol Technologies, Inc. as a member of the board. Mr. Iannuzzi is recognized for providing operational best practices in his tenure in leadership positions in finance and corporate administration with several Wall Street firms. He possesses significant corporate governance expertise and has experience working with federal and state regulators and government agencies. With the appointment of Mr. Iannuzzi, six of the Company’s eight board members are independent.

Company Sells TMP Worldwide Advertising & Communications Businesses in Europe
As part of the ongoing assessment of its operations, during the second quarter the Company sold its TMP Advertising & Communications businesses located in the UK, Ireland and Spain. These transactions, have allowed Monster Worldwide to focus its resources on the expansion and growth of Monster across local and international markets. The impact of the sales and the operating results of these businesses have been recorded as discontinued operations in the second quarter of 2006, and prior years results have been similarly reclassified. Selected historical unaudited non-GAAP results of the disposed businesses are available on Monster Worldwide’s investor relations website at www.monsterworldwide.com/ir.

Monster Expands Internet Advertising & Fees Business with Acquisition of PWP, LLC
In May, Monster expanded its presence in the online advertising and education markets with the acquisition of PWP, LLC, a leading publisher of directory websites in the education field, currently the largest advertising category for this segment. Monster intends to leverage its advertising sales operations, ad serving platform and existing client relationships to further develop PWP’s directory businesses which connect prospective students with schools and colleges. This business has been integrated into Monster Worldwide’s Internet Advertising & Fees segment alongside FastWeb, Monsterlearning and other online media and education related properties.

Business Outlook
The following forward-looking statements reflect Monster Worldwide’s expectations as of July 26, 2006. These expectations do not include the effect of any future acquisitions or dispositions, the outcome of the ongoing investigations or litigations relating to past stock options grants, or factors outside of our control, which may have an impact on future financial results and are subject to the Special Note regarding forward-looking statements elsewhere in this release.

Supplemental Financial Information
The Company has made available certain supplemental financial information, in a separate document that can be accessed directly at www.monsterworldwide.com/Q206.pdf or through the Company’s Investor Relations website at ir.monsterworldwide.com.

Conference Call Information
Second quarter 2006 results will be discussed on Monster Worldwide’s quarterly conference call taking place on July 26, 2006 at 10:00 AM EDT. To join the conference call, please dial in on (888) 551-5973 at 9:50 AM EDT and referencing conference ID#: 2261700. For those outside the United States, please call in on 706-643-3467 using referencing conference ID#: 2261700. The call will begin promptly at 10:00 AM EDT. Individuals can also access Monster Worldwide’s quarterly conference call online through the Investor Relations section of the Company’s website at www.monsterworldwide.com. For a replay of the call, please dial (800) 642-1687 or for outside the US dial (706) 645-9291 and use reference ID # 2261700. This number is valid until midnight on August 2, 2006.