Adecco Fourth Quarter Revenues Climb46%.

LAUSANNE, Switzerland--(BUSINESS WIRE)--Feb. 5, 1998--Adecco SA today announced that provisional sales revenue from services for the twelve months ended December 31, 1997 was CHF 11.4 billion, an increase of 34% compared with pro forma CHF 8.5 billion for the same period of the previous year.

Strong Revenue Growth Intensifies

On a like for like basis, not including the recently acquired TAD Resources International, revenue grew 31% for the twelve month period to CHF 11,141 million, up from CHF 8,524 million in the previous year. At constant exchange rates the revenue growth is 20%.

Adecco's revenue grew with increasing momentum in the fourth quarter. At constant exchange rates and excluding TAD, growth in revenue accelerated to 30% during the fourth quarter from 17% in the first nine months to the end of September. Including results from TAD revenues were up 46% in Swiss Francs for the quarter.

"We are delighted that the rate of sales growth continued to accelerate in the final quarter of 1997. As we enter 1998, our running rate of sales revenue is nearly three and a half times that of either of the two companies that merged to create Adecco, the global leader in 1996," stated John Bowmer, Chief Executive Officer of Adecco SA. "We continue to increase our market share despite a challenging pricing environment in some markets, particularly France. As a result we don't expect our profit growth, though very satisfactory, to be as strong as our revenue growth," he added. -0-

Revenues by Region
For the 12 Months Ended December 31, 1997

in CHF million              1997         1996       % Change

France                     4,710        3,812         24%
Rest of Europe             2,805        2,136         31%
North America              3,047        1,984         54%
Rest of World                852          592         44%
Total                     11,414        8,524         34%

Specialist/Career
 Services Brands
  (included in
    geographic regions)    1,079          614         76%


Future Communication Schedule
1997 Results Analyst/Press Conference (Zurich)    March 12
General Assembly (Lausanne)                         May 12
1998 1st Quarter Results Press Release            April 30
1998 2nd Quarter Results Press Release             July 30
1998 3rd Quarter Results Press Release          October 29

CONTACT: Adecco SA

Public and Investor Relations

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