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Vedior announces that it has signed an agreement to sell its minority holding in TriNet Group, Inc., a Californian-based provider of business process outsourcing services for payroll, benefits and human resources, to General Atlantic, LLC., a private equity investor.

Zach Miles, Vedior’s Chief Executive said, “Vedior continues to focus on its core business of recruitment while TriNet’s services have progressively evolved in the direction of HR business process outsourcing. While certain of these services are complementary to our recruitment activities, the volume of business generated through our relationship to date has been limited and TriNet’s future direction is too far removed from our strategic plan to warrant making the additional capital investment that the company needs in order to pursue growth opportunities. We feel that the partnership with General Atlantic offers a beneficial arrangement for all parties by providing TriNet with access to both growth capital and expertise in the BPO sector. We wish TriNet well in achieving its future goals.”

Martin Babinec, TriNet’s Chief Executive, added “Our ten year relationship with the management of Vedior has been instrumental to our success in growing the company. TriNet’s new partnership with General Atlantic not only helps accelerate our growth trajectory, but also brings significant advantages to our existing customers. We remain committed to continuing our existing commercial relationships with Vedior companies, as well as creating new relationships as our US customers continue to request HR services outside of North America.”

Vedior’s gross proceeds from the sale of TriNet shares will be approximately $43 million (€35 million at current exchange rates) of which approximately $37 million (€30 million at current exchange rates) will be received at closing and the balance will be paid in instalments over one to two years. Closing of the transaction is subject to regulatory approval.

TriNet sales for the year ended 31 December 2004 were $44 million (€36 million) which, as a minority investment, are not consolidated within Vedior’s reported sales. TriNet’s contribution to Vedior’s 2004 net result was $3.1 million (€2.4 million).

Company Profile:

Vedior is one of the world’s largest recruitment companies and is a full-service recruitment provider with a diversified portfolio of brands targeting a broad range of industry sectors. Annual sales for 2004 were €6,467 million.

From its global network of offices spanning Europe, North America, Australasia, Asia, South America and Africa, Vedior offers temporary and permanent recruitment as well as a number of complementary employment-related services such as outplacement, HR outsourcing, payrolling and training.

Vedior has a leading market position in the provision of professional/executive recruitment in sectors such as information technology, healthcare, accounting, engineering and education. In order to meet client requirements for all categories of personnel, we also have a significant global network providing administrative/secretarial and light industrial recruitment.

For further information, please contact:

Frits Vervoort, CFO

+31 (0)20 573 5609

Jelle Miedema, Company Secretary