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18 May 2006

McCall Mergers and Acquistions

Due to an introduction made by McCall M&A, McCall are pround to publish the following Empresaria announcment.

Indian acquisition marks further step in international growth strategy

18 May 2006: AiM-quoted international recruitment group Empresaria (EMR) has taken another key step to broaden its presence in overseas markets.

It has acquired a 25% stake in a specialist Indian staffing business Interactive Manpower Solutions Private Limited (IMS) which specialises in placing temporary and permanent staff, and outsourcing human resources functions.

Empresaria paid approximately £500,000 for the stake, and will invest an additional £350,000 to fund further expansion of the business. It has an option to increase its shareholding to 67.5%.

Empresaria CEO Miles Hunt said: “Because India offers access to high-quality, competitive skills, the country’s staffing market is developing rapidly. This acquisition fits perfectly with our strategy of building an international specialist staffing group with revenues generated across a range of economies, emerging staffing markets and industry sectors.”

The move into India is the latest in a series of strategic overseas acquisitions by Empresaria following its entry into the US, China, Japan, Australia, Thailand, Indonesia and Central Europe. The company said last month that while overseas revenues contributed less than 10% to overall sales for 2005, that is expected to rise to nearer 20% during 2006.

It reported 2005 pre-tax profits of £2.23 million on sales of £54 million.

Empresaria moved on to AiM in November 2004 and is focused on achieving strong growth combined with earnings stability and consistency through managing business risk.

IMS is based in Ahmedabad and will use the acquisition funds to establish a branch network across India. It is expected that IMS will eventually deliver human resources staffing services to companies outside India.