Trading Statement

TRADING STATEMENT                                                   

In the results announcement on 10 September Hays highlighted the volatility and uncertainty in a number of its key
markets. Since then Hays has seen a deterioration in business confidence and in forward prospects.

Having concluded the first quarter review of projections, the anticipated pick-up in trading for September and October
has not occurred. Management now believe that full and half year results will be approximately 10%-15% below consensus
estimates for profit before tax and goodwill amortisation of £222 million for the full year and £103 million for the
first half. In our Personnel Division trading to date is in line with expectations, but in these market conditions
there is a risk that the recovery expected in the second half of the financial year to 30 June 2003 may be delayed. In
the Commercial, Logistics and Mail & Express Divisions, and in common with others operating in these sectors, activity
levels are lower than expected and there is increased pressure on sales prices. This is particularly the case in Mail
& Express where competitor activity has increased significantly.

Against this background we are continuing aggressively to reduce costs to match the lower than expected volumes and to
give high priority to gradually exiting the commodity or less profitable segments within Hays' Divisions.

We remain determined to take advantage of the long-term development opportunities of our businesses. Therefore revenue
investment is being maintained, notably in the areas of expanding Personnel on the Continent of Europe, establishing
crate management in the US, developing Logistics in Continental Europe, growing our offshore processing service and
preparing for the opportunities that should arise from mail liberalisation in the UK.

Enquiries:

Bob Lawson                Chairman                   [phone]       
                         Hays plc                                           
Neil McLachlan            Group Finance Director     [phone]       
                         Hays plc                                           
Michael Webster           Brunswick                  [phone]      
Conference call:

Bob Lawson, Neil McLachlan and Graham Williams of Hays plc will conduct a conference call for analysts and
institutional shareholders at 9:00 am UK time on 31 October 2002. The dial-in details are as follows:

Call in number:                        [phone]                    
Password:                              Hays plc/Bob Lawson                    
The call will be recorded and available for playback for 10 working days as follows:

UK/European replay dial-in number:      [phone]                   
UK/European Freephone number:           0500 637 880                          
UK/European access code:                907412                                
USA dial-in number:                     [phone]                       
USA access code:                        907412                                
The Instant Replay will be available until 14 November 2002