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CONFIDENTIAL 1

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CONFIDENTIAL 1

CONFIDENTIAL 2

Forward Looking Statements

Please be advised that except for historical information, the statements made during presentation constitute forward-looking statements under applicable securities laws. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the company's strategic direction, prospects and future results. Certain factors, 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, competition, seasonality and the other risks discussed in our filings made with the Securities and Exchange Commission.

CONFIDENTIAL 3

History of Hudson Highland Group

• 67 Specialty Staffing and Recruitment Businesses Acquired by Monster Worldwide (1997 – 2001)

• New Team Recruited, Led by Industry Veteran Jon Chait

• Spun-Off from Monster Worldwide on April 1, 2003

• Operates under two brands: Hudson (Staffing and HCS) and Highland (Exec Search)

• Achieved Initial Goal of Adj EBITDA Profitability by Q2 2004

Began with an “Incomplete Mosaic”

CONFIDENTIAL 4

Initial Strategy• Stabilize the Business

Institute Operating Metrics and Accountability

Reduce Management Turnover

• Restore ProfitabilityExit Unprofitable Operations -- Restructuring Charges

Rationalize Real Estate Exposure

Improve Cash Flow and Manage Working Capital Aggressively

Increase Productivity

CONFIDENTIAL 5

Hudson Highland Group Today

Hudson Highland Group is one of the world's leading professional staffing, retained executive search and employment lifecycle solution providers.

• Focus on growing key specialty practice groups globally, including Accounting & Finance, Legal, IT and HCS

• Leading Permanent recruiter globally, with a unique combination of services

• Q2 2004 gross margin mix: Perm (57%), Temp (32%), HCS (11%)

CONFIDENTIAL 6

Diversified Global Operations

Q2 2004 Revenue $307.4M

Europe

Asia Pac

NorthAmerica

36%

34%

30%

Q2 2004Gross Margin $118.5M

Europe

Asia Pac

NorthAmerica

41%

32%

27%

CONFIDENTIAL 7

Diversified Global OperationsSpecialization in Hudson’s Major Markets (Represents 2003 GM of $217m)

Sales & Marketing

6%

IT24%

Accounting & Finance

19%Engineering

8%

Legal12%

Healthcare/ Nursing

1%

Other30%

Includes Hudson North America, UK, and Australia.“Other” primarily includes Office Services, Technical and Operations, Commercial, and Trade.

CONFIDENTIAL 8

Long Term Vision

• Complete the “Mosaic”:

- Hudson North America

- HCS

• Full Suite of Employment Life Cycle Offerings

• Move up the Value Chain -- HCS

• Extend Client Relationship

• Build Revenue Continuity

• Create a More Predictable, Profitable Business Model

Recruiting Great People, Building Great Performance

Operations and Financial Overview

CONFIDENTIAL 10

Hudson Global Resources North AmericaExpanding in Key Markets

• Temp-focused specialty staffing complemented by mid-market Permanent Placement (+20% of GM)

• Practice groups focused on key specialty staffing markets (IT, Legal, Accounting & Finance)

• Added new practice group offices in 14 cities during 2003

• Further opportunity for selected expansion

• Over 500 employees and growing

CONFIDENTIAL 11

Hudson Global Resources Asia PacAn Established Market Leader

• Market leader in recruitment in Australia

• APAC Business Mix: Permanent Placement (56% of Gross Margin), Temp (35%) and HCS (9%)

• Asian Operations in Singapore, Japan, Shanghai, and Hong Kong

• Practice groups cover broad range of industries: - IT - Financial Services - Sales & Marketing - Tech & Ops - Legal - Industrial- Accounting - Office Services

• Approximately 1,400 employees

CONFIDENTIAL 12

Hudson Global Resources EuropeDiverse Revenue Stream from Multiple Products and Countries

• Permanent Placement contributes over 50% of European GM, split between the UK (2/3) and Continental Europe (1/3)

• Strong and growing Temp practice, predominantly based in the UK, focused on range of specialty staffing practice groups, including Finance, IT, and Legal

• Human Capital Solutions (HCS) business provides career management and development, assessment, and outplacement services

• Largest operations based in: UK (60% of European GM), Belgium, France, Netherlands

• Approximately 1,500 employees

CONFIDENTIAL 13

Highland PartnersC-Level Boutique Executive Search Practice

• Specializes in recruiting at the CEO, COO, CIO, CFO and board of director level, as well as senior level operations

• A world-class retained executive search firm whose clients seek leadership at the highest levels of their organizations

• Shifted from worldwide search business to global boutique with key international points of presence

• Pan-European capabilities managed from London office

• Fewer offices and higher average billings per head

Financial Overview

CONFIDENTIAL 15

Progress in 2003

• Restructuring Charges of $29.5m

• Exited 11 Highland Partners offices

• Reduced Workforce by over 250 FTEs (over 6%)

• Grew Hudson North American Sales Force by 85 (20%)

• Improved SG&A Run Rate by $5m per quarter

• Improved Working Capital and Lowered DSO from 58 to 45 days

Delivering on Our Plan

CONFIDENTIAL 16

Improved Results in 2004

• Significant Leverage: Q2 Revenue and GM up 14% from 2003, Adj EBITDA up 145%

• Second quarter results yielded positive net income

• Profitable at the Adj EBITDA level in March, May, and June

• Completed $30m equity offering in Q1

• Exited unprofitable Germany operation in Q1

• Expect to be Adj EBITDA profitable in second half of 2004

Steps Taken Last Year Paying Off

CONFIDENTIAL 17

Across-the-Board ImprovementAdjusted EBITDA ($US in Millions)

($1.0)

$4.0

-$1

$1

$3

$5

Q1 Q2

Hudson Americas

($2.7)

$2.5

-$3

-$1

$1

$3

Q1 Q2

Hudson Europe

$2.1

$6.6

$0

$2

$4

$6

$8

Q1 Q2

Hudson Asia Pac

$0.1

$1.4

$0

$1

$2

Q1 Q2

Highland Partners

CONFIDENTIAL 18

Selected Financials

Q2 04 Q1 04 Q4 03 Q3 03 Q2 03 Q1 03 (1)

Revenue 307 290 285 272 269 259

Gross Margin 118 106 104 98 104 98

SG&A 113 117 115 114 116 119

Adjusted EBITDA (2) 6 (11) (11) (16) (12) (21)

Gross Margin % 38.5% 36.7% 36.4% 36.1% 38.5% 37.6%

$US in Millions

(1) Q1 results were before the spin-off from Monster Worldwide on April 1, 2003.

(2) Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation, amortization, and also excludes merger and integration costs, business reorganization, and impaired goodwill. A reconciliation of Adjusted EBITDA to operating loss is contained on the next page.

CONFIDENTIAL 19

Adjusted EBITDA Reconciliation to GAAP

Q2 04 Q1 04 Q4 03 Q3 03 Q2 03 Q1 03 (1)

Adjusted EBITDA (2) 6 (11) (11) (16) (12) (21)

Reorg Recovery (Cost) (0) (0) (17) (3) 1 (8)

M&I Recovery (Cost) -- 0 (2) 0 (0) (1)

D&A (5) (5) (6) (5) (5) (5)

Goodwill Impairment -- -- -- (203) -- --

Operating Income (Loss) 1 (16) (35) (226) (17) (36)

$US in Millions

(1) Q1 results were before the spin-off from Monster Worldwide on April 1, 2003.

(2) Adjusted EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation, amortization, and also excludes merger and integration costs, business reorganization, and impaired goodwill.

CONFIDENTIAL 20

Balance SheetAs of 6/30/04

Assets Liabilities and Equity

28

176

--

13

217

37

6

8

Cash

Accounts Receivable

Receivable from Monster

Other Current Assets

Total Current Assets

Net PP&E

Intangibles

Other LT Assets

29

13

125

167

5

9

87

Accounts Payable

Accrued Integration and Restructuring Costs

Other Current Liabilities

Total Current Liabilities

Long-term Liabilities

LT Accrued Integration and Restructuring Costs

Shareholders’ Equity268Total Assets Total Liabilities and Equity 268

CONFIDENTIAL 21

HHGP Stock Price Performance

$0

$5

$10

$15

$20

$25

$30

$35

Mar-03

Apr-03

May-03

Jun-03Jul-0

3Aug-0

3Se

p-03Oct-

03Nov-0

3Dec-

03Jan

-04Fe

b-04

Mar-04

Apr-04

May-04

Jun-04Jul-0

4Aug-0

4Se

p-04

HHGP Closing Price

4/1 - HHGP begins trading independently

5/8 - Q1 Results Announced

7/30 - Q2 Results Announced

10/28 - Q3 Results Announced

2/5 - Q4 Results Announced

4/29 - Q1 Results Announced

3/17 - Completed Equity Offering, 1.27m shares @ $23.55

7/28 - Q2 Results Announced

CONFIDENTIAL 22

Summary

• Experienced Management Team

• Independent Board of Directors

• Major Repositioning Completed in 2003

• Well Positioned Specialty Staffing Focus

• Significant Scale and Diversified Global Operations

• Strong Balance Sheet

• Path to Profitability