Monster Worldwide Reports Third Quarter and Nine Months 2006 Results

Monster Worldwide, Inc. (NASDAQ:MNST) today reported financial
results for the third quarter and nine months ended September 30,
2006.

"We are pleased to report yet another quarter of significant
revenue growth and strong earnings performance. Our strong operating
and financial results reflect superior execution by our sales, product
and customer service teams across the organization," said William
Pastore, Chief Executive Officer and President of Monster
Worldwide. "The quarter's results were driven by accelerated revenue
growth of 73% in the International segment, which now
represents almost one-third of Monster Careers revenue, and a 49%
increase in revenue in our Internet Advertising & Fees business.
Following the sale of our North American recruitment advertising
agency during the quarter, our transformation into a global business
singularly focused on Monster and the Internet is now complete.
Monster is better positioned to capitalize on the opportunities
inherent in the high growth interactive market. We continue to operate
efficiently in serving our expanding customer base and enhancing the
job seeker experience, all while investing in our business for future
growth. The long term opportunity in front of Monster today looks as
large and exciting as it ever has, and we intend to capitalize on
Monster's global reach and healthy financial condition to innovate
continuously, expand our seeker and employer customer base, and
deliver attractive returns for shareholders."

Third Quarter 2006 Results

Monster Worldwide revenue grew 38% overall and 33% organically to
$285.9 million in the 2006 third quarter from $206.8 million in the
comparable quarter of 2005. Results exclude the TMP Worldwide
Advertising & Communications business in North America which was sold
on August 31, 2006, and is reflected as discontinued operations for
all periods presented.

Monster Careers revenue increased 37% to $244.3 million compared
to $178.9 million in the third quarter of 2005. Internet Advertising &
Fees revenue grew to $41.6 million, a 49% gain over the $27.9 million
reported in last year's comparable quarter.

Monster's deferred revenue balance at September 30, 2006 was
$346.7 million, representing a 41% increase from last year's third
quarter balance of $246.8 million.

Income from continuing operations was $40.1 million while diluted
earnings per share from continuing operations were $0.31 in the third
quarter of 2006. Reflecting the loss on the disposal of the TMP
Worldwide North American Advertising & Communications business, the
loss from discontinued operations, net of tax, was $123.9 million, and
includes approximately $133 million of goodwill and other intangibles
included in the net assets sold. As a result, the net loss for the
third quarter of 2006 was $83.8 million, or $0.64 per diluted share.

At September 30, 2006, the Company's net cash position was $548.4
million compared with $449.2 million at June 30, 2006.

Nine Months 2006 Results

Monster Worldwide reported total revenue of $818.1 million for the
nine months ended September 30, 2006 compared to $594.5 million in the
comparable period last year, a 38% increase. Monster Careers revenue
grew 37% to $706.1 million compared with $515.7 million in the 2005
nine month period. Internet Advertising and Fees reported revenue of
$112.0 million, an increase of 42% over the prior year period. For the
nine months ended September 30, 2006, Monster Worldwide reported
income from continuing operations of $113.4 million, or $0.86 per
diluted share and, after the loss from discontinued operations,
reported a net loss of $1.9 million or $0.01 per diluted share.

Update to Historical Stock Options Grant Review

Due to the ongoing independent review and the potential impact of
stock-based compensation expense and related tax matters in prior
periods, the Company is not providing full comparative GAAP financial
results for the three and nine months ended September 30, 2005, and is
providing only selected cash flow and balance sheet data for 2006.

As previously disclosed, a committee of independent members of the
Board of Directors, (the "Special Committee") with assistance of
outside legal counsel, has been conducting an internal review and
analysis of all stock options previously issued by Monster Worldwide.
Although the Special Committee has not yet completed its review, the
Company anticipates that a conclusion of the investigation will
indicate that the exercise price of a substantial number of stock
option grants during the period under review differed from the fair
market value of the underlying shares on the recorded measurement
date. The Company is still conducting its accounting analysis and has
not yet determined the impact of these differences on the Company's
historical financial statements. However, the Company expects that it
will restate its previously filed financial statements for the years
1997 through 2005. The Company believes that the anticipated
restatements will not have a material impact on 2006 earnings.

Accordingly, the Company's Board of Directors concluded that the
Company's previously issued financial statements and other historical
financial information and related disclosures relating to periods
through December 31, 2005 contained in the Company's filings with the
Securities and Exchange Commission, including applicable reports of
its independent registered public accounting firm and press releases,
should not be relied upon.

Additionally, a NASDAQ Listing Qualifications Panel has granted
the Company's request for continued listing of the Company's
securities on The NASDAQ Stock Market. Monster Worldwide's continued
listing is subject to certain conditions, including: (1) on or before
December 13, 2006, the Company must file its Form 10-Q for the quarter
ended June 30, 2006, as well as any necessary restatements; and (2) on
or about November 3, 2006, the Company must submit to NASDAQ
additional information regarding the Company's independent review of
its historical stock option practices and related accounting.

Recent Developments

-- Monster Worldwide Promotes William Pastore to Chief Executive
Officer; Andrew McKelvey Resigns After 39 Years of Service

On October 9, 2006, Monster Worldwide announced that its Board of
Directors promoted William Pastore to the position of Chief Executive
Officer and appointed him to the Board of Directors. Mr. Pastore, who
joined the Company in October 2002 as Chief Operating Officer, has
directed all of the Company's operations, overseeing strategic
planning and tactical execution in North America, Europe and Asia. Mr.
McKelvey will remain on the Company's Board of Directors and has been
elected Chairman Emeritus. In addition, the Board of Directors
established an Executive Committee of the Board, consisting of
independent directors Sal Iannuzzi, Chairman of the Executive
Committee, John Gaulding and Ron Kramer.

-- Monster Forms Strategic Alliance With Newspaper Publisher In
Akron, Ohio

Monster Worldwide announced its second strategic newspaper
alliance designed to drive local market growth. Similar in structure
to Monster's recent alliance with Philadelphia Media Holdings, LLC,
the alliance with the Akron Beacon Journal will bring online and
offline recruitment services to employers and job seekers across
northeast Ohio. The centerpiece of this alliance is a co-branded job
search and recruitment website combining the strength of Monster's
brand and product portfolio with the local expertise and distribution
clout of Akron's sole daily newspaper, the Akron Beacon Journal, and
its website, www.ohio.com, which also covers the greater Cleveland
market. The alliance was announced on October 18, 2006.

-- Monster Worldwide Sells Remaining TMP Worldwide Advertising &
Communications Business

On August 31, 2006, Monster Worldwide sold its TMP Worldwide
Advertising & Communications business in North America. The sale
completed the divestiture of Monster Worldwide's global recruitment
advertising agency business and allows Monster to focus its resources
on the continued global growth of its brand.

-- Monster Launches In Two New International Markets: Mexico and
the Gulf Region

In August 2006, Monster announced the launch of Monster Mexico
(www.monster.com.mx) as well as an exclusive site for the Gulf Region
serving eight countries: United Arab Emirates, Kingdom of Saudi
Arabia, Kuwait, Oman, Bahrain, Qatar, Jordan and Lebanon
(www.monstergulf.com). Leveraging its global brand, product knowledge
and longstanding recruitment industry expertise, Monster will work
closely with the job seeker and employment communities in Mexico and
the Middle East to expand the online recruitment industry, while
developing solutions that best meet the local needs of these high
growth economies and job markets.

Business Outlook

"Monster continued to show strong, balanced revenue growth and
gained market share in the third quarter," said Lanny Baker, Monster's
Chief Financial Officer. "Entering the fourth quarter of 2006, we
anticipate total revenue growth in the low 30% range reflecting
healthy global demand for our online services. We expect to incur a
one-time operating expense of $4 million pre-tax, or $0.02 per share,
in the fourth quarter related to corporate right sizing. This
initiative will significantly reduce expenses and will support greater
operating efficiencies beginning in 2007. Monster has incurred
approximately $4.5 million year to date in legal and consulting
expenses related to the independent review of the Company's historical
stock option practices. The fourth quarter outlook anticipates ongoing
expenses related to the review."

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$'s in millions, except per share Fourth
amounts Quarter 2006 Full Year 2006
------------------------------------------------------ ---------------

Revenue $290- $298 $1,108- $1,116

Diluted EPS from continuing operations $0.32 - $0.33 $1.18 - $1.19
----------------------------------------------------------------------
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The preceding forward-looking statements regarding our business
outlook reflect Monster Worldwide's expectations as of October 25,
2006. These expectations do not include the effect of any future
acquisitions or dispositions, the outcome of the ongoing
investigations or litigation relating to past stock options grants, or
factors outside of our control, which may have an impact on future
financial results and are subject to the Special Note regarding
forward-looking statements elsewhere in this release.

Supplemental Financial Information

The Company has made available certain supplemental financial
information, in a separate document that can be accessed directly at
http://www.monsterworldwide.com/Q306.pdf or through the Company's
Investor Relations website at http://ir.monsterworldwide.com.

Conference Call Information

Third quarter 2006 results will be discussed on Monster
Worldwide's quarterly conference call taking place on October 25,
2006 at 10:00 AM EDT. To join the conference call, please dial in on
(888) 551-5973 at 9:50 AM EDT and reference conference ID#: 7917213.
For those outside the United States, please call in on (706) 643-3467
and reference conference ID#: 7917213. The call will begin promptly at
10:00 AM EDT. Individuals can also access Monster Worldwide's
quarterly conference call online through the Investor Relations
section of the Company's website at www.monsterworldwide.com. For a
replay of the call, please dial (800) 642-1687 or for outside the US
dial (706) 645-9291 and reference ID # 7917213. This number is valid
until midnight on November 1, 2006.

About Monster Worldwide

Founded in 1967, Monster Worldwide, Inc. is the parent company of
Monster(R), the leading global online careers and recruitment
resource. Headquartered in New York with approximately 4,600 employees
and operating in 35 countries, Monster Worldwide (NASDAQ: MNST) is a
member of the S&P 500 Index and the NASDAQ 100. More information about
Monster Worldwide is available at www.monsterworldwide.com.

Note on Discontinued Operations

On August 31, 2006 the Company sold its TMP Worldwide Advertising
& Communications business in North America. Accordingly, all of the
operating results of such business have been reclassified to
discontinued operations for all periods presented.

Notes Regarding the Use of Non-GAAP Financial Measures

Monster Worldwide, Inc. (the "Company") has provided certain
non-GAAP financial information as additional information for its
operating results. These measures are not in accordance with, or an
alternative for, generally accepted accounting principles ("GAAP") and
may be different from non-GAAP measures reported by other companies.
The Company believes that its presentation of non-GAAP measures, such
as operating income before depreciation and amortization and net cash,
provides useful information to management and investors regarding
certain financial and business trends relating to its financial
condition and results of operations. In addition, the Company's
management uses these measures for reviewing the financial results of
the Company and for budgeting and planning purposes.

Operating income before depreciation and amortization is defined
as income from operations before depreciation, amortization of
intangible assets and amortization of stock based compensation. The
Company considers operating income before depreciation and
amortization to be an important indicator of its operational strength.
This measure eliminates the effects of depreciation, amortization of
intangible assets and amortization of stock based compensation from
period to period, which the Company believes is useful to management
and investors in evaluating its operating performance. Operating
income before depreciation and amortization is a non-GAAP measure and
may not be comparable to similarly titled measures reported by other
companies.

Net cash is defined as cash and cash equivalents plus marketable
securities, less total debt. The Company considers net cash to be an
important measure of liquidity and an indicator of its ability to meet
its ongoing obligations. The Company also uses net cash, among other
measures, in evaluating its choices for capital deployment. Net cash
presented herein is a non-GAAP measure and may not be comparable to
similarly titled measures used by other companies.

Special Note: Except for historical information contained herein,
the statements made in this release constitute forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. Such
forward-looking statements involve certain risks and uncertainties,
including statements regarding the Company's strategic direction,
prospects and future results. These expectations do not include the
effect of, the outcome of the ongoing investigations or litigation
relating to past stock options grants. 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 Form 10-K and our other filings
made with the Securities and Exchange Commission, which discussions
are incorporated in this release by reference.

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MONSTER WORLDWIDE, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)

Three Months Ended Nine Months Ended
September 30, September 30,
------------------ ------------------
2006 2006
------------------ ------------------

Revenue $285,855 $818,060
-------------------------------- ------------------ ------------------

Salaries and related 106,838 297,253
Office and general 51,113 141,685
Marketing and promotion 68,077 207,088
-------------------------------- ------------------ ------------------
Total operating expenses 226,028 646,026
-------------------------------- ------------------ ------------------

Operating income 59,827 172,034

Interest and other, net 5,012 12,082
-------------------------------- ------------------ ------------------

Income from continuing
operations before income taxes
and equity interest 64,839 184,116

Income taxes 22,692 65,180
Losses in equity interest (2,054) (5,579)
-------------------------------- ------------------ ------------------

Income from continuing
operations 40,093 113,357

Loss from discontinued
operations, net of tax (123,910) (115,295)
-------------------------------- ------------------ ------------------

Net loss $(83,817) $(1,938)
================================ ================== ==================

Basic earnings (loss) per share:

Earnings per share from
continuing operations $0.31 $0.89
Loss per share from discontinued
operations, net of tax (0.96) (0.90)
-------------------------------- ------------------ ------------------
Basic earnings (loss) per share* $(0.65) $(0.02)
================================ ================== ==================

Diluted earnings (loss) per
share:

Earnings per share from
continuing operations $0.31 $0.86
Loss per share from discontinued
operations, net of tax (0.95) (0.88)
-------------------------------- ------------------ ------------------
Diluted earnings (loss) per
share* $(0.64) $(0.01)
================================ ================== ==================

Weighted average shares
outstanding:

Basic 128,484 127,938
================================ ================== ==================

Diluted 130,827 131,224
================================ ================== ==================

Operating income before
depreciation and amortization:

Operating income $59,827 $172,034
Depreciation and amortization of
intangibles 9,088 30,015
Amortization of stock based
compensation 2,943 8,395
-------------------------------- ------------------ ------------------

Operating income before
depreciation and amortization $71,858 $210,444
================================ ================== ==================

* - Basic and diluted earnings (loss) per share for the nine months
ended September 30, 2006 do not add due to rounding.
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MONSTER WORLDWIDE, INC.
SELECTED CASH FLOW AND BALANCE SHEET DATA
(unaudited, in thousands)

Three Months Three Months Three Months Nine Months
Ended Ended Ended Ended
September 30, June 30, March 31, September 30,
------------- ------------ ------------ -------------
2006 2006 2006 2006
------------- ------------ ------------ -------------
Selected Cash
Flow Data:
provided by
(used for)

Depreciation and
amortization of
intangible
assets $9,088 $11,155 $9,772 $30,015

Capital
expenditures (12,825) (16,127) (9,416) (38,368)
Changes in
marketable
securities, net (83,313) (202,236) (96,989) (382,538)
Payments for
acquisitions
and intangible
assets, net of
cash acquired (631) (24,312) (23,655) (48,598)
Cash funded to
equity investee (2,400) (4,800) - (7,200)
Net proceeds
from sale of
businesses 36,205 32,950 - 69,155
Investment in
unconsolidated
affiliate - - (19,936) (19,936)

Proceeds from
employee stock
options 60 31,571 59,594 91,225
Repurchase of
common stock - (5,879) (8,537) (14,416)
Structured stock
repurchase, net - - (22,758) (22,758)

September 30, June 30, March 31, December 31,
2006 2006 2006 2005
------------- ------------ ------------ -------------
Selected Balance
Sheet Data:

Cash and cash
equivalents $62,788 $47,059 $166,035 $196,597

Marketable
securities 506,285 422,972 221,019 123,747

Deferred revenue 346,706 349,034 343,329 327,429

Debt 20,659 20,820 24,882 47,056
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MONSTER WORLDWIDE, INC.
UNAUDITED OPERATING SEGMENT INFORMATION
(in thousands)

MONSTER
---------------------------------------------------
Three Months Ended Careers - Careers - Internet Total
September 30, North America International Advertising &
2006 Fees
------------------ ---------------------------------------------------

Revenue $166,910 $77,382 $41,563 $285,855
Operating income 57,193 4,997 11,843 74,033
OIBDA 62,114 8,248 13,504 83,866

Operating margin 34.3% 6.5% 28.5% 25.9%
OIBDA margin 37.2% 10.7% 32.5% 29.3%

Three Months Ended September 30, 2006 Corporate Total
Expenses
-------------------------------------------------- -------------------

Revenue $285,855
Operating income $(14,206) 59,827
OIBDA (12,008) 71,858

Operating margin 20.9%
OIBDA margin 25.1%
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MONSTER
---------------------------------------------------
Nine Months Ended Careers - Careers - Internet Total
September 30, North America International Advertising &
2006 Fees
------------------ ---------------------------------------------------

Revenue $489,724 $216,347 $111,989 $818,060
Operating income 167,349 7,765 33,892 209,006
OIBDA 182,103 20,036 39,347 241,486

Operating margin 34.2% 3.6% 30.3% 25.5%
OIBDA margin 37.2% 9.3% 35.1% 29.5%

Historical
Revenue:

Three Months Ended
September 30,
2005 $134,094 $44,837 $27,903 $206,834

Nine Months Ended
September 30,
2005 $383,802 $131,934 $78,723 $594,459

Nine Months Ended September 30, 2006 Corporate Total
Expenses
-------------------------------------------------- -------------------

Revenue $818,060
Operating income $(36,972) 172,034
OIBDA (31,042) 210,444

Operating margin 21.0%
OIBDA margin 25.7%

Historical Revenue:

Three Months Ended September 30, 2005 $- $206,834

Nine Months Ended September 30, 2005 $- $594,459
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