Computer Horizons Comments On Expected Results for the Third Quarter; Announces Intention to Monetize Certain Business Operations and Refocus Its Business.

Business Editors

MOUNTAIN LAKES, N.J.--(BUSINESS WIRE)--Oct. 3, 2000

Computer Horizons Corp. (Nasdaq: CHRZ) today announced that it expects to report operating results below Street estimates for the third quarter and fiscal year 2000. The Company expects to release final financial results for the third quarter ended September 30 on Wednesday, October 25.

William J. Murphy, chief financial officer of Computer Horizons, indicated that continued softness in the IT Services sector combined with lower productivity in the summer season will result in a sequential shortfall in revenues from the second quarter. "Based on current indications, we expect revenues in the third quarter to be in the range of $105 - $110 million," said Murphy, adding, "This continues to be a transition period for CHC, lengthened by continued soft spending levels in the IT Services industry. This trend, we believe, should continue for the remainder of 2000. At the same time, we have maintained an aggressive investment strategy in our E-Solutions Group, and while we recognize that this, too, has an impact on our operating results, we are confident we have the right strategy in place and that our investment focus will position us to be in the right place at the right time, poised for growth once industry spending resumes."

John J. Cassese, Chairman and CEO of Computer Horizons, said, "CHC has been actively considering the implementation of strategic initiatives that would further refocus the company's operations. These are presently contemplated to include the monetization of certain businesses, assisted by investment bankers we have engaged, and a reorientation of operations. The initiatives are likely to involve, among other things, exiting from certain markets, discontinuing certain practice offerings, and reducing corporate overhead and infrastructure costs. We expect to have write-offs associated with this realignment in the fourth quarter of 2000."

Computer Horizons Corp. (Nasdaq: CHRZ) is a strategic e-Business solutions and professional services company that is powering a new breed of rapid growth Internet developers. With thirty years of experience, CHC is a global leader in systems integration, migration and innovation, enabling companies to stay ahead of the technological curve. By leveraging its core business in IT services, CHC is powering its new breed of Internet companies, including e-Solutions, Chimes, eB Networks and Princeton Softech, to enable its Global 1000 customer base to compete in this new digital business environment. For more information on Computer Horizons, please visit our Web site at www.computerhorizons.com.

Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve a number of risks and uncertainties. It is possible that the assumptions made by management--including, but not limited to, those relating to contract awards, service offerings, market opportunities, results, performance expectations, expectations of cost savings, or proceeds from sale of certain operations--may not materialize.

Actual results may differ materially from those projected or implied in any forward-looking statements. In addition to the above factors, other important factors include the risks associated with unforeseen technical difficulties, the ability to meet customer requirements, market acceptance of service offerings, changes in technology and standards, the ability to complete cost-reduction initiatives, the ability to execute the sale of certain operations or other initiatives, dependencies on key employees, customer satisfaction, availability of technical talent, dependencies on certain technologies, delays, market acceptance and competition, as well as other risks described from time to time in the Company's filings with the Securities Exchange Commission, press releases, and other communications.