Olsten acquires Accountants Overload in drive to expand financial staffing division.

MELVILLE, N.Y.--(BUSINESS WIRE)--July 2, 1997--

Newly Named 'Olsten Financial Staffing(SM)' Providing

Strategic Staffing Solutions and Placement of Accounting and

Financial Professionals

Olsten Corporation (NYSE:OLS), a world leader in staffing services and one of the nation's largest providers of temporary financial staffing, today announced that it has acquired Accountants Overload, a well-known West Coast firm that will become part of its newly named Olsten Financial Staffing(SM) division.

The acquisition is part of Olsten's drive to expand its financial staffing operations, providing strategic staffing solutions and offering a wide range of temporary, "temp-to-hire" and full-time placement opportunities for accounting and financial professionals. Formerly known as Olsten Professional Accounting Services, the financial staffing division -- with headquarters in Atlanta and a nationwide network of 34 offices following this acquisition -- is headed by Fred R. Herbert, a Senior Vice President of the division's parent, Olsten Staffing Services. In 1996, Olsten's financial staffing division had revenues of approximately $70 million.

"This acquisition is part of our effort to expand Olsten Financial Staffing through internal growth and acquisitions, much the same way we have grown our information technology and legal staffing services businesses," said Olsten Chairman and Chief Executive Officer Frank N. Liguori. "We believe Accountants Overload will make a significant contribution to our strategic initiatives.

"Olsten Financial Staffing is capitalizing on the advantages and opportunities available to it as part of a $4 billion corporation," Liguori added. "We are introducing financial staffing to Olsten's many large contracts with Fortune 500r and other major clients, and are working closely with chief financial officers, controllers and other corporate decisionmakers to act as true consultants on future financial staffing needs. We believe there are opportunities to provide customers with more innovative and cost-effective staffing solutions than are now being delivered by the financial staffing industry."

"This is an incredible opportunity to assist Olsten Financial Staffing as it strives to become a world leader in this specialized niche," said Richard E. Lewis, Chairman and founder of Accountants Overload, who will continue to manage and expand those operations. "Accountants Overload has been a pioneer in the development of the accounting and financial staffing business for over three decades."

Accountants Overload, with approximately $23 million in 1996 revenues and 7 offices, is a leading financial staffing services provider in Southern California specializing in the placement of accounting, finance, bookkeeping and data entry professionals on a temporary, "temp-to-hire" and full-time basis. Its clients represent a cross-section of Southern California business and industry.

Olsten Corporation has a network of more than 1,400 offices spanning three continents. Primarily through Olsten Staffing Services, the Company operates more than 800 staffing or information technology offices in North America, South America and Europe, providing assignment employees to business, industry and government, as well as services for the design, development and maintenance of information systems. Olsten's other significant professional services operations include the information technology division with approximately 3,000 full- time employees serving clients from 34 offices in the United States, Canada, the United Kingdom and Norway, as well as a legal staffing division with 12 offices across the United States.

Olsten Health Services, North America's largest home health care company, has nearly 600 health care offices in the United States and Canada, providing health care Network services and caregivers for home health care and institutions, home infusion and other therapies, and management services to hospital-based home health agencies.

In 1996, Olsten Corporation employed approximately 650,000 people serving approximately 575,000 client/patient accounts. The Company achieved 1996 systemwide sales of $4.1 billion and revenues of $3.4 billion.

Information contained in this news release, other than historical information, should be considered forward-looking and is subject to various risk factors and uncertainties. For instance, the Company's strategies and operations involve risks of competition, changing market conditions, changes in laws and regulations affecting our industries and numerous other factors discussed in this release and in the Company's filings with the Securities and Exchange Commission. Accordingly, actual results may differ materially from those projected in any forward-looking statements contained herein.

CONTACT: David R. Fluhrer

Vice President-Communications

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[e-mail]

or

Anthony J. Puglisi

Senior Vice President and Chief Financial Officer

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