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Todays Staffing, Inc., Announces Acquisition ofConnection Companies, Inc.

Publication: Business Wire
Date: Monday, March 13 2000

Business Editors

DALLAS--(BUSINESS WIRE)--March 13, 2000

Todays Staffing, Inc., a subsidiary of staffing and outsourcing leader CDI Corp. (NYSE:CDI), today announced that it has acquired Denver-based Connection Companies, Inc.

Terms of the agreement are not being disclosed.

Connection Companies, Inc., with four branch offices in Denver, offers its customers temporary, temporary-to-hire, and direct hire staffing services through three divisions, Administrative

Connection, Financial Connection and Technical Connection. Connection Companies, ranked as the 25th fastest growing private company in Denver by the Denver Business Journal, had revenues of $12 million in 1999.

The acquisition strengthens Todays' current two-location presence in Denver, the 17th largest market for temporary clerical staffing services in the country. Todays will retain Connection Companies' senior management team and staff in Denver.

"Connection Companies' philosophy of building long-term customer relationships aligns closely with our business goals," said Todays Staffing President Brett Taylor-Morell. "The acquisition is in keeping with our strategy of increasing our market share in select markets for 2000, which includes Denver. Our past experience has demonstrated that we achieve 13 percent greater growth in markets where we have multiple branches compared to single-branch markets. We are confident that we will be able to serve our customers' staffing needs with increased efficiency, while recruiting and retaining a wider base of candidates through our training and retention programs."

"As part of Todays Staffing, I look forward to offering our customers a wider range of services as well as enhanced quality of temporary staffing services," said Joe Alfano, founder and co-owner of Connection Companies, Inc. "We will also be able to offer better career opportunities, increased training and enhanced benefits to our candidates. I look forward to helping Todays serve a wider segment of customers and candidates in this dynamic market."

Dallas-based Todays Staffing (www.todays.com) was founded in 1982 and has about 130 offices in the U.S. and Canada.

Company Information

Philadelphia-based CDI Corp., one of the world's largest staffing and outsourcing service providers, increases the productivity and competitiveness of its Fortune 1,000 customers through customized technical, information technology, professional and administrative staffing and outsourcing solutions delivered by CDI companies including Management Recruiters International and Todays Staffing.

CDI employs nearly 32,000 people and generated more than $1.6 billion in revenue in 1999. CDI Corp. is a founding member of the Philadelphia-based Business/Academic Partnership for the Information Technology Workforce. For more information about CDI services and employment opportunities, visit the CDI Corp. web site at www.cdicorp.com.

Safe Harbor Statement

Certain information in this news release contains forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Certain forward-looking statements can be identified by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or the negative thereof or other comparable terminology, or by discussions of strategy, plans or intentions.

Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

These include risks and uncertainties such as competitive market pressures, material changes in demand from larger customers, availability of labor, the company's performance on contracts, changes in customers' attitudes towards outsourcing, government policies or judicial decisions adverse to the staffing industry, changes in economic conditions, unforeseen events associated with the disposition of discontinued operations, delays or unexpected costs associated with implementation of computer systems, delays or unexpected costs in making modifications to existing software and converting to new software to resolve issues related to Year 2000 and failure of third parties to provide Year 2000 compliant products and services.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company assumes no obligation to update such information.