- Firm Aligns Plans to Keep Pace with One of the Fastest Growing Economies in the
World and to Help CEOs Face New Challenges -

MUMBAI, November 23, 2004 – Today Korn/Ferry International (KFY), the world’s premier provider of executive search and leadership development solutions, announced plans to expand its operations in Mumbai and celebrated the opening of new offices located at Nariman Point.

These moves reaffirm the significance of the Indian market – which is emerging as the second largest in non-Japan Asia1 and predicted to become the third largest economy in the world by 20502 – to the Firm’s regional strategy. The move also reflects the need for a more sophisticated approach to human capital issues on the part of multi-national corporations (MNCs) that are facing new challenges in terms of relocating talent and/or redefining roles for executives and other staff in India.

Early observations by AC Nielsen extracted from a regional CEO Vision Study3 that Korn/Ferry is conducting in Asia Pacific show that 72% of executives in India cite “gaining and retaining talent and people” as the main hurdle they will have to face in the next two years. In fact, this was rated as a higher concern than gaining and retaining customers, which less than half of the respondents listed as their primary challenge. Additionally, seven in ten of the CEOs polled in India expect to hire more executives in the next two years.

“With sustained GDP rates between six and eight percent, positive inflows of foreign direct investment, steady growth in the industrial and services sectors for the last seven quarters, and some of the best demographics in the world, there are many reasons why MNCs are excited about the opportunities presented in India,” said Charles Tseng, president, Asia Pacific for Korn/Ferry. “We share this enthusiasm and are actively looking at ways to ensure that we have the capabilities to adequately service the Indian market as it continues to play an increasingly important role on a global and regional level.”

“We are thrilled to be moving to a larger and better location with enhanced infrastructure that will better reflect and support our premium offerings and consistent delivery of high quality service our clients in Mumbai have grown to expect during the past ten years,” said Deepak Gupta, country head and managing director for Korn/Ferry in India. “Under the leadership of Ketaki Gupte, senior client partner, the Mumbai
team is well-positioned on all fronts to build a world-class operation that will take us into the next ten years and beyond.”

In addition to moving the Mumbai office, Korn/Ferry plans to significantly increase its own staff to sustain its recent impressive growth there and is looking to double the number of associates and partners – as well as to begin Futurestep operations in India – in the months to come. Year-to-date business for the firm in India is up by more than 75 percent compared to the same period last year.

The new address is: 82, Maker Chambers VI, Nariman Point, Mumbai 400 021.
Telephone: 91-22-56515959;
Fax: 91-22-22873275.

About Korn/Ferry International
Korn/Ferry International, with more than 70 offices in 35 countries, is the premier provider of executive search and leadership development solutions. Based in Los Angeles, the firm partners with clients worldwide to deliver unparalleled senior-level search, management assessment, coaching and development, and middle management recruitment services through its Futurestep subsidiary. Korn/Ferry opened its first office in India in Bombay (now Mumbai) in 1994 and a second office in New Delhi in 1997, from which it serves its extensive client base across India.

1. IMA India.
2. Goldman Sachs.
3. Korn/Ferry International retained AC Nielsen for survey preparation and data analysis of this regional survey of CEOs, and these results do not reflect a full analysis but rather are key observations based on early findings for the Indian market. The final results of the full survey will be released early next year.