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Adecco increases its outstanding bonds due in December 2017 by CHF 100 million

Adecco increases its outstanding bonds due in December 2017 by CHF 100 million

Adecco Group, the world’s leading provider of Human Resources solutions, successfully increased its outstanding CHF 250 million bonds due December 2017 by CHF 100 million. The proceeds will be used to fund the share buyback programme that was announced on June 26, 2012.

Yesterday, the Adecco Group launched CHF 100 million bonds, issued by Adecco S.A.. This is an increase of its already outstanding CHF 250 million bonds with a coupon of 1.875%, due on December 18, 2017(ISIN CH0189276030). The re-opening tranche will be documented within the framework of the Euro Medium Term Note Programme. As with the CHF bonds issued in June 2012, the proceeds will be used to fund the share buyback programme of up to EUR 400 million, with the aim of subsequent cancellation of the shares and reduction of the share capital, as announced on June 26, 2012. With this transaction, the funding of the share buyback will be completed.

Details of the re-opening (ISIN CH0195507709):

Principal amount:

CHF 100 million

Coupon:

1.875% p.a.

Maturity:

December 18, 2017

Re-offer price:

100.932 %

Redemption price:

100%

The settlement date for the re-opening is October 19, 2012.

Adecco Group is currently rated as follows by international rating agencies: Standard & Poor’s (BBB stable) and Moody’s (Baa3 stable).

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American CyberSystems, Inc., a Minority Owned Workforce Solutions Firm, Flourishes in Spite of the Economy and Announces Acquisition of Staffing Business of Comforce

Atlanta-based American CyberSystems, Inc. (ACS), announced that one of its wholly owned subsidiaries has acquired substantially all of the assets of the staffing business of Comforce (Comforce). The Comforce acquisition sends a clear signal American CyberSystems is flourishing and is relentless in its pursuit to deliver the best contingent workforce solutions to their clients.

Atlanta-based American CyberSystems, Inc. (ACS), announced that one of its wholly owned subsidiaries has acquired substantially all of the assets of the staffing business of Comforce (Comforce). The Comforce acquisition sends a clear signal American CyberSystems is flourishing and is relentless in its pursuit to deliver the best contingent workforce solutions to their clients.

As part of ACS’s plan to deliver more value for clients, the acquisition of Comforce significantly expands the company’s capabilities in the areas of contingent IT, Engineering, Healthcare and Government staffing. Further, as a wholly owned subsidiary of ACS, Comforce clients will be better positioned to fulfill the objectives of their diversity initiatives around the world as clients of ACS.

“I was very impressed by my team’s ability to triple the size of ACS in tough economic conditions over the last two years, yet I believed we needed to offer more comprehensive contingent workforce solutions for our clients, and I saw the Comforce acquisition as the fastest possible way to deliver that value. There is no doubt the acquisition of Comforce - $175 million in annualized revenue - makes us a larger company, but more importantly, it improves our ability to produce remarkable outcomes for our clients,” said Raj Sardana, ACS CEO and President.

Clients of both companies will be excited by this alliance and the benefits of the combined resources. The Comforce reputation and solid track record of delivery had caught the attention of many would be suitors in the industry, yet the leadership team of American CyberSystems and Comforce prioritized values and common business cultures in the best interest of their clients. Ultimately, these two organizations have united around integrity, innovation, execution and an unyielding resolve to achieve remarkable outcomes for clients and employees.

“ACS provides a wonderful compliment of unique contingent labor staffing and solution services that we will be able to integrate within our existing business. The HireGenics and CrossUSA business units are established business models that we look forward to introducing to the established Comforce client base,” said Allison Gross, Comforce Executive Vice President.

SunTrust Robinson Humphrey acted as exclusive financial advisor to Comforce and its private equity partner ABRY Partners.

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