SANTA BARBARA and ALISO VIEJO, CA – June 30, 2006 ¬– Select Personnel Services and RemedyTemp, Inc. are pleased to announce the successful acquisition of RemedyTemp by Select, effective today.  Select acquired the outstanding shares of RemedyTemp for $17 per share in cash (approximately $169 million in total), representing an approximate 39% premium over RemedyTemp’s May 10, 2006 closing stock price of $12.20 per share. The combined entity, which will be privately held, will have annual sales in excess of $1 billion, and serve more than 20,000 customers in 36 states from nearly 300 offices.

“This was a smooth transaction, and all parties are looking forward to a great union. We’re taking the best from both companies and forming an even stronger presence in the staffing industry,” said Steve Sorensen, president and CEO of the new company, which will be known primarily as Select Staffing within California and Remedy Intelligent Staffing outside of California. 

Goldman Sachs Credit Partners and Bank of the West provided financing to support the acquisition.  Goldman Sachs was financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP was legal counsel, to Select Personnel Services.

Robert W. Baird & Co. acted as financial advisor, and O’Melveny & Myers LLP acted as legal counsel, to RemedyTemp.

 Founded in Santa Barbara, California in 1985, Select Personnel Services is one of the nation’s fastest-growing, full-service staffing companies with more than $509 million in revenues in 2005. That figure, combined with RemedyTemp’s revenues of $514 million for the fiscal year ended October 2005, makes the newly formed Select Staffing the largest privately held staffing firm in California and promises to vault the Select Family of Staffing Companies into the Top 10 list of staffing firms nationwide, as ranked by revenue.
Select Personnel Services provides employment solutions to a wide variety of companies, including manufacturing, industrial, clerical, accounting, technical, and professional services.

Established in 1965 in Riverside, California by Robert E. McDonough, RemedyTemp, a national staffing organization with 238 offices throughout North America, brings with it a network of successful full-service franchise offices and two specialty-staffing divisions: Talent Magnet® and RemX® Specialty Staffing. Talent Magnet® is the premier source for top business talent. RemX® Specialty Staffing is comprised of three subdivisions: RemX Financial, RemX IT, and RemX OfficeStaff.

RemX Financial specializes in the placement of accounting and financial professionals. RemX IT provides IT professionals with expertise spanning the information technology spectrum. RemX OfficeStaff provides a complete range of administrative professionals.

Combined, the Select Family of Staffing Companies draws from more than 60 years of expertise in the staffing industry. The extra-mile service of Select Personnel Services, plus the unparalleled recruitment expertise of Remedy Intelligent Staffing, will form one business partner that specializes in elevating client’s workforces to the highest level of efficiency and productivity. The firm will offer its clients premier workforce management services, including extensive screening, nationwide recruiting, specialty staffing solutions, payroll and time attendance management, on-site supervision, proactive safety programs, and customized solutions. 

With a branch network across the nation that will include nearly 300 offices, Select StaffingTM, Remedy®, RemX®, and Talent Magnet® can better assist temporary associates to build successful careers in a wide range of industries. Associate services include job placement, resume building, interviewing tips, training, and continued job support. The merged company offers temporary, temp-to-hire, and direct placement positions.

For its clients, the Select Family of Staffing Companies provides a full range of employment solutions, from recruiting and pre-screening professional job seekers to delivering such valuable extras as accounting/payroll, risk reduction, training, and on-site supervising services.

For more information on Select Staffing, Remedy Intelligent Staffing, RemX, and Talent Magnet, please visit the company’s website at www.selectremedy.com.

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