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EXHIBIT 99
FOR IMMEDIATE RELEASE CONTACT: Jennifer Silver (media)
--------------------- 404/572-0019 or [email protected]
Lynn McHugh (analysts)
312/496-1593 or [email protected]
HEIDRICK & STRUGGLES FORMS STRATEGIC ALLIANCE WITH SVIC
World's Largest and Premier Executive Search Firm to be the Preferred Provider
of Executive Talent for Silicon Valley Internet Capital (SVIC)
CHICAGO (June 29, 2000)--Heidrick & Struggles International, Inc. (Nasdaq:
HSII), the world's largest and premier executive search firm, today announced
that it has entered into a strategic alliance with SVIC, a newly formed, San
Francisco-based company that will create and provide operating support for
Internet infrastructure companies. As part of the alliance, Heidrick & Struggles
will be the preferred global executive search firm for SVIC's companies. In
addition, Heidrick & Struggles was provided the opportunity to invest $10
million in SVIC's first round of financing, which is now closed, and chose to
make the investment.
"We're excited to partner with some of the most successful business leaders
associated with the development of Internet infrastructure companies," said
David C. Anderson, President and Chief Executive Officer of Heidrick & Struggles
Executive Search. "Our global reach and access to executive-level leadership
will contribute to the future success of SVIC, and this investment will allow us
to benefit further from the value we deliver when we place the right management
in a company. We will have new revenue opportunities as the preferred provider
of executive talent for SVIC."
Founded by Robert Shaw, Mike Santer, and Alex Hern, SVIC will deploy capital,
management and operational resources to create and grow market-leading network
infrastructure companies. Shaw, Chief Executive Officer of SVIC, currently
serves on the board of directors for both Heidrick & Struggles and its
comprehensive Internet-based recruiting service, LeadersOnline. He also serves
on SVIC's board of directors and has an equity interest in SVIC.
Shaw most recently served as the chief executive officer and on the board of
directors of USWeb/CKS, which recently merged with Whitman Hart to form a new
company called marchFirst. Santer co-founded Platinum Venture Partners, a
leading venture capital firm. Hern was a founder of Inktomi Corporation, which
develops
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and markets scalable Internet infrastructure software.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International (HSI Group) is the world's largest and
premier executive search firm, specializing in chief executive, board of
directors and senior level management assignments. Today, nearly 900 Heidrick &
Struggles professionals serve a broad range of organizations including Fortune
500 companies, financial institutions, major health care organizations,
universities and not-for-profit organizations, leading mid-cap companies, and
emerging growth companies from offices in more than 70 locations throughout
North and South America, Europe, the Middle East, Africa and Asia Pacific. For
more information about Heidrick & Struggles, visit our web site at
www.heidrick.com.
Safe Harbor Statement
Certain matters discussed in this news release are forward-looking statements
that are necessarily dependent upon assumptions, estimates and data that may be
incorrect or imprecise, and include known and unknown risks, uncertainties and
other important factors that could cause the actual results to differ materially
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Some of the risks, uncertainties, assumptions
and factors that could affect the company's financial results are included in
the company's recent SEC filings. Although the company believes that the
expectations reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to have been correct. All
forward-looking statements in this news release are expressly qualified by these
cautionary statements, and the company expressly disclaims any duty to update
such forward-looking statements.
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