Timeline

Voting rights breakdown

Declared beneficial owners · 7

A single, collectively filed disclosure: the voting-rights rate applies to the whole group, not to each person.

• J.P. Morgan Securities Ltd4.99%
• J.P. Morgan International Bank Limited4.99%
• J.P. Morgan Investment Management Inc4.99%
• J.P. Morgan Asset Management Canada Inc4.99%
• J.P. Morgan Asset Management UK Limited4.99%
• J.P. Morgan Chase Bank4.99%
• J.P. Morgan Whitefriars Inc4.99%

Notice details

Beneficial owner

J.P. Morgan Securities Ltd

1. Name of the listed company: Adecco S.A. 2. Proportion of voting rights held by the group (total holdings in percent): See table under item 5. 3. Identity of those involved: Group consisting of JPMorgan Chase & Co, 270 Park Avenue, New York, NY 10017, United States (Head Office), and its subsidiaries: - J.P. Morgan Securities Ltd., 125 London Wall, London EC2Y 5AJ, UK - J.P. Morgan Whitefriars Inc., 125 London Wall, London EC2Y 5AJ, UK - J.P. Morgan International Bank Limited, 125 London Wall, London EC2Y 5AJ, UK - J.P. Morgan Investment Management Inc., 245 Park Avenue, New York, NY 10167, USA - JPMorgan Asset Management (Canada) Inc., #2310 - 650 West Georgia Street, Vancouver, British Columbia V6B 4N7, Canada - JPMorgan Asset Management (UK) Limited, 125 London Wall, London EC2Y 5AJ, UK - JPMorgan Chase Bank, N.A., 1111 Polaris Parkway, Columbus, Ohio 43240, USA 4. Nature of the agreement: Group of Companies 5. Number and type of shares/rights: Type of rights Number Number of Percentage of of rights voting rights voting rights (%) I. Purchase positions I.1. Equity securities (Adecco registered shares) 3'558'632 3'558'632 1.88 I.2. Conversion rights etc.1) I.2.1. Long Call Options 2'890'459 2'890'459 1.53 I.2.2. Short Put Options 2'978'800 2'978'800 1.58 Total category I.2. 5'869'259 3.11 Total category I. 9'427'891 4.99 II. Sale positions1) II.1. Long Put Options 1'250'000 1'250'000 0.66 II.2. Short Call Options 900'000 900'000 0.48 Total category II. 2'150'000 1.14 1) Further details are available from the Adecco contact as indicated at the end of this notification and from the Adecco S.A. webpage: www.adecco.com (Investor Information). 6. Time (date) of acquisition, sale or understanding through which the shareholding reached, exceeded or fell below the percentage threshold: 19 December 2007 (Sale of shares) 7. Representative of the Group members: J.P. Morgan Securities Ltd., 125 London Wall, London EC2Y 5AJ, UK; Michael Kirwan, Tel. +44 207 325 1413