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Randstad: FujiStaff tender offer successful

October 14, 2010

A tender offer by Randstad Holding NV for shares in Japanese staffing firm FujiStaff Holdings was successfully completed, Randstad announced today.

A total of 606,526 shares were tendered -- which includes shares previously held by the founding shareholders and those already held by Randstad -- representing a 95.1% economic stake in FujiStaff.

Randstad will pay 27,500 yen per tendered share on Oct. 20.

Randstad now aims for full ownership of FujiStaff and a delisting of FujiStaff's stock in the first quarter of 2011.

FujiStaff has 88 branches and two business lines -- one is primarily clerical (approximately 55% of revenue) and the other is primarily industrial (approximately 45% of revenue). FujiStaff ranks No. 38 on Staffing Industry Analysts' 2010 list of largest global staffing firms with estimated staffing revenue of US$624.0 million in 2009.