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ManpowerGroup Reports 1st Quarter 2011 Results

ManpowerGroup Reports 1st Quarter 2011 Results

ManpowerGroup (NYSE: MAN) today reported that net earnings for the three months ended March 31, 2011 were $35.7 million, or 43 cents per diluted share, compared to net earnings of $2.8 million, or 4 cents per diluted share, a year earlier. Revenues for the first quarter were $5.1 billion, an increase of 24% from the year earlier period, or 22% in constant currency.

Net earnings in the first quarter were favorably impacted by 3 cents per diluted share, as foreign currencies were relatively stronger compared to the prior year period.

Jeffrey A. Joerres, ManpowerGroup Chairman and CEO, said, "ManpowerGroup posted a very solid first quarter, with gains in both revenue and profitability coming from almost all business lines and geographies. Several European and emerging markets showed particularly strong trends.
"During the quarter, we launched the reinvention of the brand with the evolution to ManpowerGroup. We also launched our new brand family and our new professional resourcing company, Experis.

"Additionally, earlier this month we made an acquisition which is strategically significant an IT resourcing company in India with 5 locations throughout the country. Not only does this give ManpowerGroup a strong foothold in India, but it also is a springboard for growth throughout the Asia Pacific Middle East region.

"We anticipate that favorable trends will continue into the second quarter, resulting in earnings per share of 74 cents to 82 cents. This includes a favorable impact of 8 cents per share related to currency changes in the quarter."

In conjunction with its first quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on April 21, 2011 at 7:30 a.m. CDT (8:30 a.m. EDT). Interested parties are invited to listen to the webcast and view the presentation by logging on to http://www.manpowergroup.com/investors.

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