USG People NV (AMS:USG) USG People Aligns Its Organization To Changed Market Circumstances

USG People NV (AMS:USG) BAlmere, 22 January 2009 - USG People announces an optimization of its organization in France, Spain and Portugal. Market circumstances in these regions have declined very quickly. Furthermore, a proactive optimization is carried out in the Netherlands, aimed at maintaining the level of profitability.

The network of branch offices will be decreased by a total of 93 branches, and the number of employees will be reduced by 540 full-time positions. The reduction in the number of employees will to a great extent be achieved through natural attrition. Additionally, a provision will be made for the total amount of the rental costs for the remaining contract period of the previous headquarters of Start People in the Netherlands. This measure is expected to generate savings in the amount of € 25 millions on an annual basis. On balance, one-off expenses amount to € 12 million (consisting of one-off expenses of € 20 million and one-off subsidy gains in France of € 8 million), which have been booked in the fourth quarter of 2008.

"The French, Spanish and Portuguese staffing markets are undergoing an extraordinary downward movement as a consequence of the credit crisis", says Ron Icke, CEO of USG People. "During normal cyclical movements, economic growth and decline alternate much more gradually. With the current optimization of our network we are anticipating ongoing difficult market circumstances in 2009."

USG People will also write off € 68 million of goodwill in the fourth quarter of 2008, primarily on its activities in France, Spain and Portugal. This depreciation is a consequence of our short-term expectations, which have been reduced due to the credit crisis. The long-term outlook remains positive for this region. In Spain, the penetration rate of flexwork lies far below the European average, and in the entire region the level of specialization is still low. The new Agency Work Directive can lead to a further increase in the penetration rate of flexwork in these countries. This recently adopted EU directive is aimed at neutralizing the effect of legislation and regulations that limit temporary employment, and it must be implemented by the EU member states in the upcoming three years.

For more information, please contact: Rob Zandbergen, CFO Telephone: +31 (0)36 529 95 20 E-mail: rzandbergen@usgpeople.com

About USG People USG People is active with a large number of brands that jointly provide one-stop solutions in the field of staffing, secondment and HR and customer care services. With an annual turnover of 3.9 billion euros in 2007, USG People ranks fourth in Europe in the field of staffing, secondment and HR services. Headquartered in the Dutch city of Almere, the group is active in a large number of European countries including the Netherlands, Belgium, Luxembourg, Germany, Austria, Switzerland, the Czech Republic, Slovakia, Poland, France, Italy, Spain and Portugal.

The brand portfolio of USG People comprises Proflex and Start People (General Staffing) - Ad Rem Young Professionals, ASA Student, Content, Creyf's, Express Medical, Geko Zeitarbeit, Receptel, Secretary Plus, StarJob, SYS, Technicum and Unique (Specialist Staffing) - Legal Forces, USG Capacity, USG Energy, USG Financial Forces, USG HR Forces, USG Innotiv, USG Juristen, USG Multi Compta and USG Restart (Professionals) - Call-IT (Other Services).

USG People is listed on the NYSE Euronext Amsterdam stock exchange and is included in the Amsterdam Exchange index (AEX).

For more information on USG People or any of its operating companies, please visit our website at www.usgpeople.com.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/130803/R/1283939/287579.pdf

USG People NV

http://www.usgpeople.nl

ISIN: NL0000354488

Stock Identifier: XAMS.USG