Acsys, Inc. Reports First Quarter Results; Revenues Increase 35%.

WASHINGTON--(BUSINESS WIRE)--April 30, 1998--Acsys, Inc. (Nasdaq/NM:ACSY), a leading provider of specialty professional staffing services, today announced that total service revenues for the first quarter ended March 31, 1998, increased 35% to $17.4 million from $12.9 million for the first quarter of 1997.

Pro forma net income rose 12% for the first quarter to $595,000, or $0.06 per diluted share, from $532,000, or $0.06 per diluted share, for the year-earlier period. The 40% increase in weighted average shares outstanding resulted from the Company's initial public offering, completed in February, in which 3,162,500 shares of common stock were issued and the shares issued in the 1997 acquisition of CPA Staffing. In the first quarter, Acsys recognized a deferred tax liability of $3.0 million, or $0.29 per diluted share, caused by the Company's change from an "S" Corporation to a "C" Corporation in connection with the IPO. As a result, there was a net loss for the quarter, on a historical basis, of $2.3 million, or $0.23 per diluted share.

Temporary staffing service revenues were $12.4 million for the quarter, or 72% of total service revenues, and permanent placement revenues contributed 28%. Specialty professional service -- Acsys's core business -- increased 37% in the quarter to $16.2 million; clerical service revenues increased 8% to $1.2 million.

Commenting on the results, Chief Executive Officer Timothy Mann, Jr. said, "Our results for the first quarter were on target with expectations and reflect solid performance in both our temporary staffing and permanent placement businesses. During the quarter we acquired TGS Resource Group, Inc., a Richmond, Virginia-based accounting and finance staffing firm, and the integration of that company is progressing on schedule. We also announced a definitive agreement to acquire ICON Search and Consulting, Inc., an Atlanta-based information technology staffing company, and will close this transaction during the second quarter. Both of these transactions are expected to be accretive to 1998 earnings and are good examples of our acquisition strategy.

"ICON Search and Consulting provides Acsys with a foundation and the high-growth information technology staffing service sector. It is a natural extension of our existing specialty professional temporary staffing and permanent placement services in the Atlanta market and should provide a number of cross-selling opportunities.

"Our acquisition pipeline is robust, and we will continue to pursue profitable specialty professional staffing companies that have a leading position in new markets or are operationally and geographically synergistic with our existing business."

Acsys, Inc. is one of the leading specialty professional staffing and permanent placement firms in the U.S. Acsys currently operates 18 offices serving the Atlanta; Charlotte; Central New Jersey; Philadelphia; Tampa; Orlando; Washington, D.C.; and Richmond, Virginia, metropolitan markets.

Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the Company's ability to achieve and manage growth; the Company's ability to successfully identify suitable acquisition candidates, complete acquisitions or integrate the acquired business into its operations; the Company's ability to attract and retain qualified personnel; the Company's ability to develop new services; and other factors discussed in Acsys's filings with the Securities and Exchange Commission. -0-

                              ACSYS, INC.
                Consolidated Statements of Operations
                             (Unaudited)
                                                    First Quarter Ended
                                                         March 31,
                                                    -------------------
(Dollars in thousands, except per share data)       1998        1997
                                                   --------    --------
Service revenues:
  Temporary staffing                              $ 12,406     $ 9,355
  Permanent placement                                4,957       3,531
                                                  --------    --------
     Total service revenues                         17,363      12,886

Direct cost of services                              8,210       6,256
                                                  --------    --------
     Gross profit                                    9,153       6,630

Selling, general & administrative expenses           7,833       5,373
Depreciation and amortization                          239         101
                                                  --------    --------
     Operating income                                1,081       1,156
Other expense, net                                      72         206
                                                  --------    --------
Income before income taxes                           1,009         950
Income taxes (a)                                     3,276          --
                                                  --------    --------
Net income (loss)                                 $ (2,267)    $   950
                                                  ========    ========
Pro forma: (b)

Pro forma income taxes                            $    414     $   418
                                                  --------    --------
Pro forma net income                              $    595     $   532
                                                  ========    ========
Pro forma net income per diluted share(c)         $   0.06     $  0.06
                                                  ========    ========
Weighted average common shares outstanding(d)       10,282       7,203
                                                  ========    ========

(a)  Prior to February 5, 1998, the Company was an "S" Corporation and
     not subject to income taxes. In connection with the termination
     of the Company's "S" Corporation status, Acsys recorded a
     deferred tax liability of $3.0 million to recognize income tax
     expense on the cash to accrual adjustment caused by the Company's
     change to a "C" Corporation.

(b)  Reflects the provision for income taxes as if the Company was a
     "C" Corporation for the three months ended March 31, 1998 and
     1997.

(c)  Earnings per share includes a charge for the accretion of the
     redeemable shares of $0 and $134,000 for the three months ended
     March 31, 1998 and 1997, respectively.

(d)  Number of shares used in computing pro forma net income per
     diluted share excludes 122,012 redeemable shares for the three
     months ended March 31, 1997.

                               Balance Sheet

                                          At March 31,  At Dec. 31,
                                              1998         1997
                                          -----------   ----------
Cash and cash equivalents                   $ 7,020     $   370
Working capital                              12,571       3,683
Total assets                                 38,565      29,275
Long-term liabilities                         3,210      12,084
Shareholders' equity                         29,596       9,304

CONTACT: Acsys Inc., Washington D.C.

Timothy Mann Jr., 770/395-0014 ext. 127