Primacy Relocation Acquires Foursquare Relocation

Primacy Relocation, a leading provider of employee relocation and
global assignment management services, today announced it has acquired
Foursquare Relocation in an agreement finalised on 14 December. The
acquisition strengthens Primacy's range of services and expands
operations in London, Paris, Geneva and Amsterdam, a new market for
Primacy. Additionally, the deal increases Primacy's Europe, Middle
East and Africa (EMEA) business unit revenues by nearly forty percent
and adds more than 35 relocation professionals to the Primacy team.
Primacy selected Foursquare Relocation for its quality reputation,
recognisable client portfolio and its presence in The Netherlands.

"This acquisition provides Primacy with an even stronger presence
in Europe, including now an established team in Amsterdam," said Steve
Marshall, President of Primacy's EMEA business unit. "We are committed
to providing expert relocation management services with localised
delivery to the entire European market. Foursquare's experienced
people, resources and network of established clients further
strengthens our visibility and capabilities in this very important
region."

Foursquare Relocation launched its Amsterdam office in 2001, with
the subsequent expansion of service offerings throughout Europe and
offices in London, Paris and Geneva. In just five years, Foursquare
has achieved substantial market penetration, attracted and retained an
impressive talent pool, and established a quality reputation in the
European market. The company's pan-European footprint gives it added
credibility with its global clients, including those in the
electronics, film, space exploration, automotive, information
technology, and beverage industries.

"This acquisition is a wonderful cultural fit for both
organizations and will help to increase Primacy's market share and
credibility in a very important region," said Kay Nemoto, Foursquare's
CEO. "I have the utmost confidence that our experienced people,
resources and network of established clients will compliment Primacy's
existing teams."

Primacy offers the EMEA region localised delivery of world-class
assignment management services from major operational centers in
Geneva, London, Paris, and Munich, offices throughout Europe and
on-the-ground representatives virtually everywhere.

Primacy Relocation is one of the top third-party employee
relocation providers in the world, and is the largest to focus all
technology and resources solely on relocation and global assignment
(expatriate) management. Primacy administers programs for employers
throughout the Americas, EMEA and Asia regions. Core services include
home sales, destination services, household goods move management, and
overall program administration. In addition to its Memphis
headquarters, Primacy has offices in Chicago, Dallas, Los Angeles,
Minneapolis, Omaha, Sacramento and Washington, D.C. (Government
Services), as well as Basel, Geneva, Lausanne, London, Montreal,
Munich, Paris, Shanghai and Zurich. Primacy is online, in nine
languages, at www.primacy.com.