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Adecco Purchases All The Remaining Minority Interests In Olsten Personal Norden AS

Adecco SA, the world's largest personnel services provider, has purchased the 49% of the shares of Olsten Personal Norden AS still owned by the founders of the company.

Chéserex, Suisse, Mar 26, 2001 

Adecco Chief Executive Officer John Bowmer said he was "delighted with the move. The Nordics is an important market for us. Increasing our position in this fast growing market was one of the important reasons we decided in August 1999 to merge with Olsten. Olsten Personal Norden has developed a formidable presence in Norway, Sweden, Denmark and Finland through the insight, hard work and expertise of the Olsten team. I'd like to thank them for helping us consolidate a strong market position in the region with a total of 118 offices. We look forward to building still further on their excellent achievements. This important step is consistent with our growth strategy, to be number 1 or 2 in every key market."

Chairman of the Board of Olsten Personal Norden AS Thor Spandow said: "After many years of building a very strong presence in these 4 countries, we are very pleased to hand over this successful company to the global market leader. Adecco's record of building and growing businesses is the strongest in the global staffing market, so this is clearly the right move at the right time. I am convinced that the combination with Adecco will open new growth opportunities for our business and our people through the international network of Adecco ".

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