The action alleges that between the applicable dates, the defendants issued a series of material misrepresentations to the market concerning Adecco’s financial results. The action alleges: (1) that the company lacked adequate internal controls and was therefore unable to ascertain its true financial condition; (2) that its North American operations had a material weaknesses in internal controls; (3) because of these weaknesses, its net income was materially overstated in violation of generally accepted accounting principles; and (4) the value of the company's net income and financial results were materially overstated at all relevant times.

On January 12, 2004, Adecco shocked the market when it announced that it did not expect the audit of its consolidated financial statements for the 2003 fiscal year, ended on December 28, 2003, to be completed by Adecco's auditors by the previously announced release date of February 4, 2004. The company identified the following reasons for the delay: (1) the identification of material weaknesses in internal controls in its North American operations of Adecco Staffing; (2) the resolution of possible accounting, control and compliance issues in the company's operations in certain countries; and (3) the completion of efforts to address these matters and determine their effect on Adecco’s consolidated financial statements. News of this rocked all Adecco securities, sending them tumbling more than 30% or $5.23 per share to close at $11.70 per share on extremely heavy volume.

If you are a member of the class described above, you may request that the court appoint you as lead plaintiff in the action, if you do so not later than March 16, 2004. In order to serve as lead plaintiff, however, you must meet certain legal requirements. You may retain counsel of your choice to serve as your attorneys in these actions, or may rely on the attorneys who have filed the actions.