Monster Worldwide Reports Third Quarter and Nine Months 2008 Results

--Net Cash and Securities of $486 million

--Cash Flow From Operations of $92 Million

--Monster Worldwide to List on New York Stock Exchange

Monster Worldwide, Inc. (NASDAQ:MNST) today reported financial results for the third quarter ended September 30, 2008.

Third Quarter Results

Total revenue was $332 million compared with $330 million in the comparable quarter of 2007. Revenue was impacted by approximately $6 million of foreign currency benefits. In last year's third quarter, foreign currency contributed approximately $8 million to revenue.

Careers revenue was $298 million, essentially flat with last year's third quarter. Careers International revenue, which accounted for 43% of consolidated revenue, grew 17% over the prior year period, or 13% excluding the benefits of currency, to $142 million. North American Careers revenue was $155 million compared with $175 million in last year's third quarter. Internet Advertising & Fees revenue was $35 million, up 4% over last year's comparable quarter.

Consolidated operating expenses were $270 million, and income from continuing operations was $43 million, or $0.36 per diluted share in the third quarter of 2008 compared to $34 million, or $0.26 per diluted share, in the comparable 2007 period. The effect of foreign exchange rates benefited consolidated operating income by approximately $1 million, compared to approximately $2 million in the third quarter of 2007.

Included in income from continuing operations for the three months ended September 30, 2008 is $7 million of pre-tax pro forma expenses, or $0.04 per diluted share, associated with the Company's restructuring plan and matters related to the Company's historical stock option grant practices. These pro forma adjustments are described in the "Notes Regarding the Use of Non-GAAP Financial Measures" and are reconciled to the nearest GAAP measure in the accompanying tables. Excluding these costs, income from continuing operations in the third quarter of 2008 was $48 million, or $0.40 per diluted share, compared to $46 million, or $0.36 per diluted share, in the prior year.

At September 30, 2008, the Company had $733 million of cash, cash equivalents and available for sale securities compared with $533 million at June 30, 2008. During the quarter, the Company borrowed $247 million under its existing credit facility as a precautionary measure to provide additional financial flexibility. Approximately $94 million of auction rate securities are classified as a long-term asset on the consolidated balance sheet, and are included in the cash and securities balance as of September 30, 2008. As a result, the Company ended the quarter with net cash and securities of $486 million, before the payment of $174 million for the remaining interest in ChinaHR, which occurred in October 2008.

Cash generated from operating activities was $92 million in the third quarter of 2008 compared to $73 million generated in the prior year period. Capital expenditures were $21 million, reflecting the Company's strategic investments in technology and infrastructure. During the quarter, the Company repurchased 2.2 million shares of its common stock for an aggregate cost of $42 million. The Company currently has $126 million remaining under the current stock repurchase program. Monster Worldwide's deferred revenue balance at September 30, 2008 was $412 million, compared with last year's third quarter balance of $435 million.

"Monster's strong third quarter earnings growth and solid cash flow generation in the face of a severe global economic slowdown clearly demonstrate the Company's ability to manage its business efficiently. During the quarter we reduced costs while aggressively investing in critical areas that will drive future growth. As a result, operating expenses were roughly flat with last year's levels while we strategically expanded our US sales force and substantially enhanced our customer service capability. We have made significant progress in the development of new products for both seekers and employers as we prepare to launch a new job seeker site and user experience in early January 2009," said Timothy Yates, Executive Vice President and Chief Financial Officer of Monster Worldwide.

Nine Months Results

Monster Worldwide reported total revenue of $1.05 billion for the nine months ended September 30, 2008 compared to $976 million in the comparable period last year, an 8% increase, or 4% before the benefit of foreign exchange rates. Careers revenue grew 9% to $955 million compared with $879 million in the 2007 period. Internet Advertising & Fees reported revenue of $98 million, essentially flat with the prior year period. The Company reported income from continuing operations of $85 million, or $0.70 per diluted share, compared to $104 million or $0.79 per diluted share in the prior year period.

Sal Iannuzzi, Chairman, President and Chief Executive Officer of Monster Worldwide said, "We view the current economic downturn as an opportunity to continue to invest and strengthen the Monster brand and value proposition across our entire global organization, while remaining vigilant in controlling costs. Our recently completed acquisition of ChinaHR, the region's fastest growing online recruitment resource, provides unparalleled size and reach and further distances Monster from the competition. We cannot predict when the market will improve, however, we are working hard to capture market share and position the Company for stronger growth when the global economy rebounds."

Monster Worldwide to List on New York Stock Exchange

Monster today announced that it has filed an application to list its common stock on NYSE Euronext ("NYSE"). The Company expects to begin trading on the NYSE on November 10, 2008 (subject to approval by the NYSE) under the stock symbol MWW. The Company will continue to trade on the NASDAQ Global Select Market until that time.

Mr. Iannuzzi added, "We believe the NYSE is a prestigious platform for Monster, a platform that is committed to integrity in governance, innovation, and global growth. These are exciting times for Monster and our move to the NYSE is consistent with the goals, strategies, and values of the new Monster."

Supplemental Financial Information

The Company has made available certain supplemental financial information, in a separate document that can be accessed directly at http://corporate.monster.com/Q308.pdf or through the Company's Investor Relations website at http://ir.monster.com.

Conference Call Information

Third quarter 2008 results will be discussed on Monster Worldwide's quarterly conference call taking place on October 30, 2008 at 5:00 PM EDT. To join the conference call, please dial (888) 551-5973 at 4:50 PM EDT and reference conference ID# 68058316. For those outside the United States, please dial (706) 643-3467 and reference the same conference ID#. The call will begin promptly at 5:00 PM EDT. Individuals can also access Monster Worldwide's quarterly conference call online through the Investor Relations section of the Company's website at http://ir.monster.com. For a replay of the call, please dial (800) 642-1687 or outside the United States dial (706) 645-9291 and reference ID #68058316. This number is valid until midnight on November 6, 2008.

About Monster Worldwide

Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster(R), the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, Asia and Latin America, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index and the NASDAQ 100. To learn more about Monster's industry-leading products and services, visit www.monster.com.

Notes Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain non-GAAP financial information as additional information for its operating results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles ("GAAP") and may be different from non-GAAP measures reported by other companies. The Company believes that its presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations.

Non-GAAP operating expenses, operating income, operating margin, income from continuing operations and diluted earnings per share all exclude certain pro forma adjustments including: costs associated with the Company's historical stock option grant practices, related litigation and potential fines or settlements; severance costs for former executive officers incurred in the second quarter of 2007; costs related to the measures taken by the Company in response to a security breach in August 2007; and the strategic restructuring actions initiated in the third quarter of 2007. The Company uses these non-GAAP measures for reviewing the ongoing results of the Company's core business operations and in certain instances, for measuring performance under certain of the Company's incentive compensation plans. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Operating income before depreciation and amortization ("OIBDA") is defined as income from operations before depreciation, amortization of intangible assets, amortization of stock based compensation and non-cash costs incurred in connection with the Company's restructuring program. The Company considers OIBDA to be an important indicator of its operational strength. This measure eliminates the effects of depreciation, amortization of intangible assets, amortization of stock based compensation and non-cash restructuring costs from period to period, which the Company believes is useful to management and investors in evaluating its operating performance. OIBDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

Free cash flow is defined as cash flow from operating activities less capital expenditures. Free cash flow is considered a liquidity measure and provides useful information about the Company's ability to generate cash after investments in property and equipment. Free cash flow reflected herein is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies. Free cash flow does not reflect the total change in the Company's cash position for the period and should not be considered a substitute for such a measure.

Net cash and securities is defined as cash and cash equivalents plus short-term and long-term marketable securities, less total debt. The Company considers net cash and securities to be an important measure of liquidity and an indicator of its ability to meet its ongoing obligations. The Company also uses net cash and securities, among other measures, in evaluating its choices for capital deployment. Net cash and securities presented herein is a non-GAAP measure and may not be comparable to similarly titled measures used by other companies.

Special Note: Except for historical information contained herein, the statements made in this release, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the Company's strategic direction, prospects and future results. Certainfactors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, ongoing costs associated with the Company's historical stock option grant practices, costs associated with the restructuring and security breach, and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.

MONSTER WORLDWIDE, INC. UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2008 2007 2008 2007 Revenue $ 332,189 $ 330,142 $ 1,052,955 $ 975,957 Salaries and related 136,506 126,940 412,833 393,259 Office and general 71,834 69,466 221,091 200,089 Marketing and promotion 57,684 71,584 238,514 217,661 Provision for legal settlements, net - - 40,100 - Restructuring and other special charges 3,592 11,155 13,251 11,155 Total operating expenses 269,616 279,145 925,789 822,164 Operating income 62,573 50,997 127,166 153,793 Interest and other, net 5,283 6,507 15,723 18,823 Income from continuing operations before income taxes and equity 67,856 57,504 142,889 172,616 interests Income taxes 22,734 20,474 50,030 61,151 Loss in equity interests, net (2,086) (3,074) (7,500) (7,460) Income from continuing operations 43,036 33,956 85,359 104,005 Income (loss) from discontinued operations, net of tax (258) (655) 10,840 (2,606) Net income $ 42,778 $ 33,301 $ 96,199 $ 101,399 Basic earnings per share: Income from continuing operations $ 0.36 $ 0.26 $ 0.70 $ 0.80 Income (loss) from discontinued operations, net of tax - (0.01) 0.09 (0.02) Basic earnings per share* $ 0.36 $ 0.26 $ 0.79 $ 0.78 Diluted earnings per share: Income from continuing operations $ 0.36 $ 0.26 $ 0.70 $ 0.79 Income (loss) from discontinued operations, net of tax - (0.01) 0.09 (0.02) Diluted earnings per share* $ 0.35 $ 0.25 $ 0.79 $ 0.77 *Earnings per share may not add in certain periods due to rounding. Weighted average shares outstanding: Basic 120,057 129,499 121,213 129,893 Diluted 120,722 130,757 121,884 132,044 Operating income before depreciation and amortization: Operating income $ 62,573 $ 50,997 $ 127,166 $ 153,793 Depreciation and amortization of intangibles 14,710 11,845 40,503 31,862 Amortization of stock based compensation 7,602 2,975 21,468 24,453 Restructuring non-cash expenses 924 67 3,933 67 Operating income before depreciation and amortization $ 85,809 $ 65,884 $ 193,070 $ 210,175

MONSTER WORLDWIDE, INC. UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) Nine Months Ended September 30, 2008 2007 Cash flows provided by operating activities: Net income $ 96,199 $ 101,399 Adjustments to reconcile net income to net cash provided by operating activities: (Income) loss from discontinued operations, net of tax (10,840) 2,606 Depreciation and amortization of intangibles 40,503 31,862 Provision for legal settlements, net 40,100 - Receipts and payments for legal settlements, net 5,700 - Provision for doubtful accounts 11,174 8,453 Non-cash compensation 22,630 24,453 Deferred income taxes (7,142) (2,697) Loss (gain) on disposal of assets 3,009 (574) Loss in equity interests and other 7,500 7,460 Changes in assets and liabilities, net of business combinations: Accounts receivable 131,891 34,065 Prepaid and other 21,620 (12,211) Deferred revenue (112,567) (9,464) Accounts payable, accrued liabilities and other (4,924) 24,749 Net cash used for operating activities of discontinued operations (4,091) (5,106) Total adjustments 144,563 103,596 Net cash provided by operating activities 240,762 204,995 Cash flows provided by (used for) investing activities: Capital expenditures (71,224) (47,560) Purchase of marketable securities (182,147) (1,009,836) Sales and maturities of marketable securities 502,305 1,035,983 Payments for acquisitions and intangible assets, net of cash acquired (126,195) (1,939) Cash funded to equity investee (5,000) (10,000) Dividends received from equity investee 1,011 - Net cash used for investing activities of discontinued operations - (255) Net cash provided by (used for) investing activities 118,750 (33,607) Cash flows (used for) provided by financing activities: Proceeds from borrowings on credit facility short-term 247,000 - Repurchase of common stock (128,133) (164,734) Proceeds from exercise of employee stock options 1,156 54,052 Excess tax benefits from equity compensation plans 981 13,954 Payments on debt obligations (156) (58) Payments on acquisition debt - (21,862) Net cash (used for) provided by financing activities 120,848 (118,648) Effects of exchange rates on cash (4,980) 5,795 Net increase in cash and cash equivalents 475,380 58,535 Cash and cash equivalents, beginning of period 129,744 58,680 Cash and cash equivalents, end of period $ 605,124 $ 117,215 Free cash flow: Net cash provided by operating activities $ 240,762 $ 204,995 Less: Capital expenditures (71,224) (47,560) Free cash flow $ 169,538 $ 157,435

MONSTER WORLDWIDE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) Assets: September 30, 2008 December 31, 2007 Cash and cash equivalents $ 605,124 $ 129,744 Available-for-sale securities, current 33,823 448,703 Accounts receivable, net 358,214 499,854 Available-for-sale securities, non - current 93,728 - Property and equipment, net 152,352 123,397 Goodwill and intangibles, net 743,858 650,685 Other assets 215,875 210,696 Total assets of discontinued operations - 14,731 Total assets $ 2,202,974 $ 2,077,810 Liabilities and Stockholders' equity: Accounts payable, accrued expenses and other $ 328,546 $ 304,146 Deferred revenue 411,764 524,331 Borrowings on credit facility short-term 247,000 - Non-current income taxes payable 115,318 111,108 Other liabilities 23,682 17,033 Debt 43 415 Total liabilities of discontinued operations - 4,276 Total liabilities 1,126,353 961,309 Stockholders' equity 1,076,621 1,116,501 Total liabilities and stockholders' equity $ 2,202,974 $ 2,077,810

MONSTER WORLDWIDE, INC. UNAUDITED OPERATING SEGMENT INFORMATION (in thousands) Three Months Ended September 30, 2008 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 155,165 $ 142,441 $ 34,583 $ 332,189 Operating income 43,120 30,231 4,726 $ (15,504) 62,573 OIBDA 52,516 39,060 7,425 (13,192) 85,809 Operating margin 27.8% 21.2% 13.7% 18.8% OIBDA margin 33.8% 27.4% 21.5% 25.8% Three Months Ended September 30, 2007 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 175,309 $ 121,687 $ 33,146 $ 330,142 Operating income 51,455 7,344 3,487 $ (11,289) 50,997 OIBDA 57,589 12,896 5,316 (9,917) 65,884 Operating margin 29.4% 6.0% 10.5% 15.4% OIBDA margin 32.8% 10.6% 16.0% 20.0% Nine Months Ended September 30, 2008 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 502,983 $ 452,386 $ 97,586 $ 1,052,955 Operating income 141,230 71,790 7,951 $ (93,805) 127,166 OIBDA 167,754 96,083 15,725 (86,492) 193,070 Operating margin 28.1% 15.9% 8.1% 12.1% OIBDA margin 33.4% 21.2% 16.1% 18.3% Nine Months Ended September 30, 2007 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 533,807 $ 344,738 $ 97,412 $ 975,957 Operating income 171,912 27,360 15,228 $ (60,707) 153,793 OIBDA 189,584 42,852 20,224 (42,485) 210,175 Operating margin 32.2% 7.9% 15.6% 15.8% OIBDA margin 35.5% 12.4% 20.8% 21.5%

MONSTER WORLDWIDE, INC. UNAUDITED NON-GAAP STATEMENTS OF OPERATIONS AND RECONCILIATIONS (in thousands, except per share amounts) For the Three Months Ended September, 2008 For the Three Months Ended September, 2007 As Reported Proforma Adjustments Non-GAAP As Reported Proforma Adjustments Non-GAAP Revenue $ 332,189 - $ 332,189 $ 330,142 - $ 330,142 Salaries and related 136,506 - 136,506 126,940 364 a 127,304 Office and general 71,834 (3,875) a 67,959 69,466 (8,589) a 60,877 Marketing and promotion 57,684 - 57,684 71,584 - 71,584 Restructuring and other special charges 3,592 (3,592) c - 11,155 (11,155) - Total operating expenses 269,616 (7,467) 262,149 279,145 (19,380) 259,765 Operating income 62,573 7,467 70,040 50,997 19,380 70,377 Operating margin 18.8% 21.1% 15.4% 21.3% Interest and other, net 5,283 - 5,283 6,507 - 6,507 Income from continuing operations before income taxes and equity 67,856 7,467 75,323 57,504 19,380 76,884 interests Income taxes 22,734 2,502 d 25,236 20,474 6,900 d 27,374 Losses in equity interests, net (2,086) - (2,086) (3,074) - (3,074) Income from continuing operations $ 43,036 $ 4,965 $ 48,001 $ 33,956 $ 12,480 $ 46,436 Diluted earnings per share from continuing operations $ 0.36 $ 0.04 $ 0.40 $ 0.26 $ 0.10 $ 0.36 Weighted average shares outstanding: Diluted 120,722 120,722 120,722 130,757 130,757 130,757

For the Nine Months Ended September, 2008 For the Nine Months Ended September, 2007 As Reported Proforma Adjustments Non-GAAP As Reported Proforma Adjustments Non-GAAP Revenue $ 1,052,955 - $ 1,052,955 $ 975,957 - $ 975,957 Salaries and related 412,833 93 a 412,926 393,259 (15,778) a 377,481 Office and general 221,091 (11,658) a 209,433 200,089 (23,416) a 176,673 Marketing and promotion 238,514 - 238,514 217,661 - 217,661 Provision for legal settlements, net 40,100 (40,100) b - - - - Restructuring and other special charges 13,251 (13,251) c - 11,155 (11,155) - Total operating expenses 925,789 (64,916) 860,873 822,164 (50,349) 771,815 Operating income 127,166 64,916 192,082 153,793 50,349 204,142 Operating margin 12.1% 18.2% 15.8% 20.9% Interest and other, net 15,723 - 15,723 18,823 - 18,823 Income from continuing operations before income taxes and equity 142,889 64,916 207,805 172,616 50,349 222,965 interests Income taxes 50,030 22,729 d 72,759 61,151 17,837 d 78,988 Losses in equity interests, net (7,500) - (7,500) (7,460) - (7,460) Income from continuing operations $ 85,359 $ 42,187 $ 127,546 $ 104,005 $ 32,512 $ 136,517 Diluted earnings per share from continuing operations * $ 0.70 $ 0.35 $ 1.05 $ 0.79 $ 0.25 $ 1.03 Weighted average shares outstanding: Diluted 121,884 121,884 121,884 132,044 132,044 132,044

Note Regarding ProForma Adjustments: The financial information included herein contains certain non-GAAP financial measures. This information is not intended to be used in place of the financial information prepared and presented in accordance with GAAP, nor is it intended to be considered in isolation. We believe that the above presentation of non-GAAP measures provide useful information to management and investors regarding certain core operating and business trends relating to our results of operations, exclusive of certain restructuring related and other special charges. ProForma adjustments consist of the following: a Costs associated with the ongoing investigation into the Company's historical stock option granting practices, and costs associated with the remediation of a security breach related to the Company's resume database in August 2007. b Provision for costs associated with the proposed legal settlements related to the stock option litigation, net of recoveries. c Restructuring related charges pertain to the strategic restructuring actions that the Company announced on July 30, 2007. These charges include costs related to the reduction in the Company's workforce, fixed asset write-offs, costs relating to the consolidation of certain office facilities, contract termination costs, relocation costs and professional fees. d Income tax adjustment is calculated using the effective tax rate of the reported period multiplied by the ProForma adjustment to income from continuing operations before income taxes and equity interest. *Diluted earnings per share may not add in certain periods due to rounding.

MONSTER WORLDWIDE, INC. UNAUDITED NON-GAAP OPERATING SEGMENT INFORMATION (in thousands) Three Months Ended September 30, 2008 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 155,165 $ 142,441 $ 34,583 $ 332,189 Operating income - GAAP $ 43,120 $ 30,231 $ 4,726 $ (15,504) $ 62,573 Proforma Adjustments 651 2,236 251 4,329 7,467 Operating income - Non GAAP $ 43,771 $ 32,467 $ 4,977 $ (11,175) $ 70,040 Operating margin - GAAP 27.8% 21.2% 13.7% 18.8% Operating margin - Non GAAP 28.2% 22.8% 14.4% 21.1% Three Months Ended September 30, 2007 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 175,309 $ 121,687 $ 33,146 $ 330,142 Operating income - GAAP $ 51,455 $ 7,344 $ 3,487 $ (11,289) $ 50,997 Proforma Adjustments 7,975 6,245 1,917 3,243 19,380 Operating income - Non GAAP $ 59,430 $ 13,589 $ 5,404 $ (8,046) $ 70,377 Operating margin - GAAP 29.4% 6.0% 10.5% 15.4% Operating margin - Non GAAP 33.9% 11.2% 16.3% 21.3% Nine Months Ended September 30, 2008 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 502,983 $ 452,386 $ 97,586 $ 1,052,955 Operating income - GAAP $ 141,230 $ 71,790 $ 7,951 $ (93,805) $ 127,166 Proforma Adjustments 4,831 6,938 1,411 51,736 64,916 Operating income - Non GAAP $ 146,061 $ 78,728 $ 9,362 $ (42,069) $ 192,082 Operating margin - GAAP 28.1% 15.9% 8.1% 12.1% Operating margin - Non GAAP 29.0% 17.4% 9.6% 18.2% Nine Months Ended September 30, 2007 Careers - North America Careers - International Internet Advertising & Fees Corporate Expenses Total Revenue $ 533,807 $ 344,738 $ 97,412 $ 975,957 Operating income - GAAP $ 171,912 $ 27,360 $ 15,228 $ (60,707) $ 153,793 Proforma Adjustments 8,425 6,245 1,917 33,762 50,349 Operating income - Non GAAP $ 180,337 $ 33,605 $ 17,145 $ (26,945) $ 204,142 Operating margin - GAAP 32.2% 7.9% 15.6% 15.8% Operating margin - Non GAAP 33.8% 9.7% 17.6% 20.9%

SOURCE: Monster Worldwide, Inc.

Monster Worldwide, Inc. Investors: Robert Jones, 212-351-7032 Robert.Jones@monsterworldwide.com or Media: Nick Ragone, 646-935-4046 Nick.Ragone@ketchum.com