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Heidrick & Struggles Expands Operations in Central and Eastern Europe

CHICAGO, Feb. 3, 2009 (GLOBE NEWSWIRE) -- Heidrick & Struggles International, Inc. (Nasdaq:HSII), the world's premier executive search and leadership advisory firm, today announced it has completed the acquisition of the Warsaw office of Ray & Berndtson, a leading retained executive search operation. It has also welcomed staff from Ray & Berndtson's operations in Austria and individuals from Ray & Berndtson teams based throughout Central & Eastern Europe. In total, the company increases the number of consultants in this region by seven.

"We are pleased to welcome these consultants, their associates and support staff, to the Heidrick & Struggles team. These talented individuals significantly enhance our scale and competitive positioning in Central & Eastern Europe, as well as in many of our industry practice groups," said Kevin Kelly, Chief Executive Officer of Heidrick & Struggles. "This investment better positions our company in a fast-growing region, and benefits our clients by enabling us to expand the service offerings and scope of our combined businesses. We are confident that our new consultants will be able to quickly realize revenue and productivity increases from capitalizing on our brand, by working closely with our practice groups, and by utilizing our support capabilities, such as our Knowledge Management Center in India."

Joachim R. Zyla, Managing Partner of Ray & Berndtson's activities in Central & Eastern Europe, who will be joining Heidrick & Struggles, said: "Heidrick & Struggles is the premier global brand in the executive search industry. And it is the firm which will change the face of the industry over the next three years as it develops into a leadership advisory firm, not only focusing on the acquisition of talent at the senior level, but also on helping clients develop and retain their employees. We are looking forward to starting work."

About Heidrick & Struggles International, Inc.

Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness. For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide. Today, Heidrick & Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit www.heidrick.com.

Safe Harbor Statement

This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions. Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search and leadership advisory consultants; the condition of the economies in the United States, Europe, Asia Pacific, and elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to align our cost structure with net revenue; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements. We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: Heidrick & Struggles International, Inc.
Investors & Analysts:
Julie Creed, VP, Investor Relations
+1 312 496 1774
jcreed@heidrick.com

Gong Communications
Media:
Narda Shirley
+44 20 7935 4800


"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Heidrick & Struggles International, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year. 




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