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US Recruiter Announces First UK Acquisition

US Recruiter Announces First UK Acquisition

Corporate Resource Services Signs Its First Letter of Intent in the United Kingdom

Corporate Resource Services, Inc. (NASDAQ: CRRS), a diversified technology, staffing, recruiting, and consulting services firm, today announced that it has signed a letter of intent to acquire a UK-based technology and staffing company.

"This is the first step for Corporate Resource Services to enter into the European marketplace," said Mark S. Levine, Chief Operating Officer for CRS. "The management team at this company is comprised of true professionals and we are very excited to have them as our platform for expansion in the United Kingdom. Their business model is identical to ours, but with higher margins, proprietary innovative staffing software and a vibrant customer base that offers CRS many international cross-selling opportunities."

"Corporate Resource Services' expansion into the United Kingdom is the first step to execute on our strategic initiative to become an international service provider," said Michael J. Golde, Chief Financial Officer of CRS. "Many of our major clients in the US have international operations and we have a great opportunity to expand our business with them, realizing incremental profits in addition to the business we will be acquiring. We believe this will enhance our profitability and increase our shareholder value. We expect to close this acquisition in the fourth quarter."

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