O-STA

Monster Worldwide Reports Second

Monster Worldwide Reports Second

Quarter 2006 Results; Total Revenue Increases 36% to $296 Million

Business Editors

NEW YORK--(BUSINESS WIRE)--July 26, 2006--Monster Worldwide, Inc.

(NASDAQ: MNST):

-- 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. (NASDAQ: MNST) 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.

-0-

*T

$'s in millions, except per share Third

amounts Quarter 2006 Full Year 2006

----------------------------------------------------- ----------------

Total revenue $300- $306 $1,175 - $1,200

Monster revenue $280- $285 $1,095- $1,115

Diluted EPS from

continuing operations $0.32 - $0.33 $1.26 - $1.30

----------------------------------------------------------------------

Supplemental Financial Information

The Company has made available certain supplemental financial

information, in a separate document that can be accessed directly at

http://www.monsterworldwide.com/Q206.pdf or through the Company's

Investor Relations website at http://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.

About Monster Worldwide

Founded in 1967, Monster Worldwide, Inc. is the parent company of

Monster(R), the leading global online careers and recruitment

resource. The company also owns TMP Worldwide, one of the largest

Recruitment Advertising agencies in North America. Headquartered in

New York with approximately 4,800 employees in 24 countries, Monster

Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and the

NASDAQ 100. More information about Monster Worldwide is available at

www.monsterworldwide.com.

Note on Discontinued Operations

On May 10, 2006 the Company sold its TMP Worldwide Advertising and

Communications businesses in the United Kingdom and Ireland. In a

separate transaction, the Company sold its recruitment advertising

agency in Spain. Accordingly, all of the operating results of such

businesses have been reclassified to discontinued operations for all

periods presented.

Notes Regarding the Use of Non-GAAP Financial Measures

Monster Worldwide, Inc. (the "Company") has provided certain

non-GAAP financial information as additional information for its

operating results. These measures are not in accordance with, or an

alternative for, generally accepted accounting principles ("GAAP") and

may be different from non-GAAP measures reported by other companies.

The Company believes that its presentation of non-GAAP measures, such

as operating income before depreciation and amortization and net cash

provides useful information to management and investors regarding

certain financial and business trends relating to its financial

condition and results of operations. In addition, the Company's

management uses these measures for reviewing the financial results of

the Company and for budgeting and planning purposes.

Operating income before depreciation and amortization is defined

as income from operations before depreciation, amortization of

intangible assets and amortization of stock based compensation. The

Company considers operating income before depreciation and

amortization to be an important indicator of its operational strength.

This measure eliminates the effects of depreciation, amortization of

intangible assets and amortization of stock based compensation from

period to period, which the Company believes is useful to management

and investors in evaluating its operating performance. Operating

income before depreciation and amortization is a non-GAAP measure and

may not be comparable to similarly titled measures reported by other

companies.

Net cash is defined as cash and cash equivalents plus marketable

securities, less total debt. The Company considers net cash to be an

important measure of liquidity and an indicator of its ability to meet

its ongoing obligations. The Company also uses net cash, among other

measures, in evaluating its options for capital deployment. Net cash

presented herein is a non-GAAP measure and may not be comparable to

similarly titled measures used by other companies.

Special Note: Except for historical information contained herein,

the statements made in this release constitute forward-looking

statements within the meaning of Section 27A of the Securities Act of

1933 and Section 21E of the Securities Exchange Act of 1934. Such

forward-looking statements involve certain risks and uncertainties,

including statements regarding the Company's strategic direction,

prospects and future results. Certain factors, including factors

outside of our control, may cause actual results to differ materially

from those contained in the forward-looking statements, including

economic and other conditions in the markets in which we operate,

risks associated with acquisitions, competition, seasonality and the

other risks discussed in our Form 10-K and our other filings made with

the Securities and Exchange Commission, which discussions are

incorporated in this release by reference.

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Three Six

Months Months

Ended Ended

June 30, June 30,

--------- ---------

2006 2006

--------- ---------

Revenue $295,800 $572,753

------------------------------------------------- --------- ---------

Salaries and related 111,925 216,003

Office and general 47,969 98,925

Marketing and promotion 73,404 139,375

------------------------------------------------- --------- ---------

Total operating expenses 233,298 454,303

------------------------------------------------- --------- ---------

Operating income 62,502 118,450

Interest and other, net 4,144 7,524

------------------------------------------------- --------- ---------

Income from continuing

operations before income

taxes and equity interest 66,646 125,974

Income taxes 23,418 45,100

Losses in equity interest (2,284) (3,525)

------------------------------------------------- --------- ---------

Income from continuing operations 40,944 77,349

Income (loss) from discontinued operations, net

of tax (1,327) 4,530

------------------------------------------------- --------- ---------

Net income $ 39,617 $ 81,879

================================================= ========= =========

Basic earnings per share:

Earnings per share from continuing operations $ 0.32 $ 0.61

Income (loss) per share from discontinued

operations, net of tax (0.01) 0.04

------------------------------------------------- --------- ---------

Basic earnings per share* $ 0.31 $ 0.64

================================================= ========= =========

Diluted earnings per share:

Earnings per share from continuing operations $ 0.31 $ 0.59

Income (loss) per share from discontinued

operations, net of tax (0.01) 0.03

------------------------------------------------- --------- ---------

Diluted earnings per share $ 0.30 $ 0.62

================================================= ========= =========

Weighted average shares outstanding:

Basic 128,551 127,662

================================================= ========= =========

Diluted 132,009 131,390

================================================= ========= =========

Operating income before depreciation and

amortization:

Operating income $ 62,502 $118,450

Depreciation and amortization of intangibles 11,886 22,232

Amortization of stock based compensation 3,538 5,606

------------------------------------------------- --------- ---------

Operating income before depreciation and

amortization $ 77,926 $146,288

================================================= ========= =========

* - Earnings per share for the six months ended June 30, 2006 does

not add due to rounding.

MONSTER WORLDWIDE, INC.

SELECTED CASH FLOW AND BALANCE SHEET DATA

(unaudited, in thousands)

Three Three Six

Months Months Months

Ended Ended Ended

June 30, March 31, June 30,

--------- --------- ---------

2006 2006 2006

--------- --------- ---------

Selected Cash Flow Data: provided by

(used for)

Depreciation and amortization of

intangible assets $11,886 $10,346 $22,232

Capital expenditures (16,127) (10,148) (26,275)

Changes in marketable securities, net (202,236) (96,989) (299,225)

Payments for acquisitions and intangible

assets, net of cash acquired (24,312) (23,655) (47,967)

Cash funded to equity investee (4,800) - (4,800)

Net proceeds from sale of businesses 32,950 - 32,950

Investment in unconsolidated affiliate - (19,936) (19,936)

Proceeds from employee stock options 31,571 59,594 91,165

Repurchase of common stock (5,879) (8,537) (14,416)

Structured stock repurchase, net - (22,758) (22,758)

June 30, March 31, December

2006 2006 31, 2005

--------- --------- ---------

Selected Balance Sheet Data:

Cash and cash equivalents $47,059 $166,035 $196,597

Marketable securities 422,972 221,019 123,747

Deferred revenue 350,671 345,040 328,902

Debt 20,820 24,882 47,056

*T

-0-

*T

MONSTER WORLDWIDE, INC.

UNAUDITED OPERATING SEGMENT INFORMATION

(in thousands)

MONSTER

---------------------------------------------

Careers - Internet

Three Months Ended June North Careers - Advertising

30, 2006 America International & Fees Total

------------------------ ---------------------------------------------

Revenue $162,816 $74,374 $37,979 $275,169

Operating income 56,039 2,191 12,637 70,867

OIBDA 61,534 7,121 14,263 82,918

Operating margin 34.4% 2.9% 33.3% 25.8%

OIBDA margin 37.8% 9.6% 37.6% 30.1%

Advertising & Corporate

Three Months Ended June 30, 2006 Communications Expenses Total

----------------------------------- ----------------------------------

Revenue $20,631 $295,800

Operating income 2,486 $(10,851) 62,502

OIBDA 3,765 (8,757) 77,926

Operating margin 12.0% 21.1%

OIBDA margin 18.2% 26.3%

MONSTER

---------------------------------------------

Careers - Internet

Six Months Ended North Careers - Advertising

June 30, 2006 America International & Fees Total

------------------------ ---------------------------------------------

Revenue $322,814 $138,965 $70,426 $532,205

Operating income 111,239 3,301 22,245 136,785

OIBDA 120,592 12,065 25,948 158,605

Operating margin 34.5% 2.4% 31.6% 25.7%

OIBDA margin 37.4% 8.7% 36.8% 29.8%

Historical Revenue:

Three Months Ended

June 30, 2005 $126,152 $ 45,880 $26,059 $198,091

Six Months Ended

June 30, 2005 $249,708 $ 87,097 $50,820 $387,625

Advertising & Corporate

Six Months Ended June 30, 2006 Communications Expenses Total

----------------------------------- ----------------------------------

Revenue $40,548 $572,753

Operating income 4,184 $(22,519) 118,450

OIBDA 6,494 (18,811) 146,288

Operating margin 10.3% 20.7%

OIBDA margin 16.0% 25.5%

Historical Revenue:

Three Months Ended June 30, 2005 $18,932 $ - $217,023

Six Months Ended June 30, 2005 $38,694 $ - $426,319

*T

--30--MT/ny*

CONTACT: Monster Worldwide, Inc.

Investors and Media:

Robert Jones, 212-351-7032

bob.jones@monsterworldwide.com

or

Media:

Kathryn Burns, 212-351-7063

kathryn.burns@monsterworldwide.com