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KORN/FERRY INTERNATIONAL MERGES WITH CARRE ORBAN AND PARTNERS, STRENGTHENS LEAD AS WORLD'S LARGEST SEARCH FIRM

 NEW YORK, April 22 /PRNewswire/ -- The largest merger ever in the executive search industry was announced today by Korn/Ferry International and Carre Orban and Partners, a leading European search firm. Korn/Ferry merged its European operations with selected operations of Carre Orban, creating a firm with revenues of $130 million worldwide.
 The merger strengthens Korn/Ferry's position as the world's largest search firm with the most comprehensive global network encompassing 47 offices in 25 countries, according to Richard M. Ferry, chairman and chief executive officer of Korn/Ferry International.
 "We are writing history in our profession today," said Ferry. "Korn/Ferry is now the first truly multinational firm in our industry with as many partners outside the U.S. as inside its borders. This realizes a vision I first had 25 years ago."
 Korn/Ferry Carre/Orban International, as it will be known in Europe, will be the second largest search organization on the continent with 15 offices in 12 countries, conducting over 1,000 executive search assignments annually. Korn/Ferry will add offices in Scandinavia and Luxembourg and expand its existing operations in other major European cities through the merger. "Korn/Ferry Carre/Orban International will be in the top tier of European search firms, with expanded reach and expertise," Ferry said.
 Carre Orban will now have a base in the rapidly expanding Eastern European market as well as a strong foothold in North America, Latin America and Asia through Korn/Ferry's existing operations.
 "International business recognizes that the 90s will be the decade of Europe with the European Community and privatization of the former Eastern bloc economies, thus escalating the demand for senior executives," said President Georges O. Orban, who is now chairman of Korn/Ferry Carre/Orban International. "Further, as our clients are investing across oceans, recruitment firms today must globalize as well if they are to serve their clients effectively. We are pleased that Carre Orban is now part of the finest worldwide network in our industry."
 "This merger brings together two firms that have outstanding professionals and high quality standards," said Ed Kelley, chief executive officer of Korn/Ferry Europe who becomes CEO of the combined European firm. "Our European business has been increasing faster than the U.S. and we estimate it would require five years for us to acquire the market position and capabilities that we now have with Carre Orban. Frankly, we just couldn't wait that long."
 Ferry pointed out that Carre Orban has a well-established consulting practice that provides management audits for its clients. "Our U.S. clients have requested our assistance in assessing their existing management teams and we intend to introduce Carre Orban's management audit service in North America. This fits well with our strategic plan of providing enhanced services to clients along with traditional executive search," Ferry said.
 The merger has been effected by Korn/Ferry International's acquisition of the Carre Orban companies in Norway and Sweden and of certain assets and liabilities of the Carre Orban companies in Switzerland, France, Belgium and Luxembourg.
 Korn/Ferry International, founded in Los Angeles in 1969, historically has increased market share through major expansions and mergers during recessionary periods. The firm acquired G.K. Dickinson, Ltd., in London in late 1973 and Hazzard & Asociados, the largest firm in Latin America, in 1977.
 Headquartered in Zurich, Carre Orban was founded in 1978.
 -0- 4/22/93
 /CONTACT: Stephanie Rosenfelt, 212-687-1834, or Barbara Casey, 310-458-1224, both for Korn/Ferry/


CO: Korn/Ferry International; Carre Orban and Partners ST: New York IN: SU: TNM

GK-LR -- NY057 -- 9406 04/22/93 11:52 EDT
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Date:Apr 22, 1993
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