Holding(s) in Company

Holding(s) in Company

Zurich, Switzerland, 22 November 2012: Pursuant to Art. 10 and 21 of the
SESTO-FINMA, Adecco S.A. discloses the following:

1. Name of the listed company: Adecco S.A.

2. Proportion of voting rights held in Adecco S.A. (total holdings in
percent): see table under item 5.

3. Identity of those involved:

Group consisting of

- Och-Ziff Capital Management Group LLC, 9 West 57th Street, 39th Floor, New
York, NY 10019, USA (beneficial owner)

- Daniel S. Och, Chairman and Chief Executive Officer of Och-Ziff Capital
Management Group LLC, 9 West 57th Street, 39th Floor, New York, NY 10019, USA.
He is deemed to control more than 50% of the voting rights of Och-Ziff Capital
Management Group LLC (beneficial owner)

and direct shareholders:

- Och-Ziff Holding Corporation, 9 West 57th Street, 39th Floor, New York, NY
10019, USA

- Och-Ziff Holding II LLC, 9 West 57th Street, 39th Floor, New York, NY 10019,
USA

- OZ Management LP, 9 West 57th Street, 39th Floor, New York, NY 10019, USA

- OZ Management II LP, 9 West 57th Street, 39th Floor, New York, NY 10019, USA

- Och-Ziff Management Europe Ltd., 40 Argyll Street, London W1F 7EB, United
Kingdom.

Note:

- OZ Management LP and OZ Management II LP are investment managers that
independently exercise their respective voting powers on behalf of a number of
investment funds and discretionary accounts they manage.

- Och-Ziff Management Europe Ltd. is acting in a capacity as a sub-advisor to
both investment managers. Both OZ Management II LP and Och-Ziff Management
Europe Ltd. are 100% subsidiaries of OZ Management LP.

- Och-Ziff Holding Corporation is the General Partner of OZ Management LP. It
is 100% owned by Och-Ziff Capital Management Group LLC.

- Och-Ziff Capital Management Group LLC owns 100% of Och-Ziff Holding
Corporation, which is the General Partner of OZ Management LP. OZ Management
LP owns 100% of OZ Management II LP.

- Och-Ziff Holding II LLC is the General Partner of OZ Management II LP. It is
100% owned by OZ Management LP.

4. Nature of the agreement: Group of companies

5. Number and type of shares/rights:

Type of rights                Number of rights Number of     Percentage of
                                               voting rights voting rights (%)
I. Purchase positions
I.1. Equity Securities
I.1.1. Equity securities      11'071           11'071        0.006
I.2. Conversion rights and
share purchase rights etc.
I.2.1. Convertible bonds 1)   771'687.09       771'687.09    0.41
I.2.2. Call options 2)        75'000           75'000        0.04
I.2.3. Call options 3)        150'000          150'000       0.08
Subtotal I.2.                 996'687.09       996'687.09    0.53

Type of rights                Number of rights Number of     Percentage of
                                               voting rights voting rights (%)
I.3. Financial Instrument
that provide for or permit
cash settlement, etc.
I.3.1. Swap in respect of     5'556'147.02     5'556'147.02  2.936
convertible bonds 4)
Total category I.                              6'563'905.10  3.47
II. Sale positions
Total return swap 5)          54'938           54'938        0.03
Total return swap 6)          4'046            4'046         0.002
Total return swap 7)          1'197'828        1'197'828     0.63
Total return swap 8)          6'772            6'772         0.004
Total return swap 9)          4'724'764        4'724'764     2.5
Total return swap 10)         140'194          140'194       0.07
Total return swap 11)         1'427'070        1'427'070     0.75
Total category II.                             7'555'612     3.99

1) ISIN: XS0460347080
Due to the upcoming mandatory conversion of the Convertible Bonds, the rights
reflect the number of shares that would be received using the minimum
conversion ratio of 1773.9933 per 100'000 nominal bonds. The ratio is likely
to increase pursuant to the terms of the Convertible Bonds based on the
average closing price of the shares of the issuer over a fixed period of time.

2) Underlying: CH0012138605
The rights reflect the number of shares that would be received using a
contract size/multiplier of 100.
Expiry date: 21 December 2012 and strike price 48

3) Underlying: CH0012138605
The rights reflect the number of shares that would be received using a
contract size/multiplier of 100.
Expiry date: 21 December 2012 and strike price 47

4) Identity of Issuers: Credit Suisse, Bank of America, Merrill Lynch, UBS
Underlying: XS0460347080; Termination date: 26 November 2012.
Due to the upcoming mandatory conversion of the Convertible Bonds, the rights
reflect the number of shares that would be received using the minimum
conversion ratio of 1773.9933 per 100'000 nominal bonds. The ratio is likely
to increase pursuant to the terms of the Convertible Bonds based on the
average closing price of the shares of the issuer over a fixed period of time.

5) Underlying: CH0012138605
Barclays, 6 September 2013 termination date

6) Underlying: CH0012138605
Barclays, 10 September 2013 termination date

7) Underlying: CH0012138605
Bank of America, Merrill Lynch, 11 December 2013 termination date

8) Underlying: CH0012138605
Bank of America, Merrill Lynch, 12 December 2013 termination date

9) Underlying: CH0012138605
Credit Suisse, 18 September 2015 termination date

10) Underlying: CH0012138605
UBS, 3 October 2016 termination date

11) Underlying: CH0012138605
UBS, 1 June 2017 termination date

6. Facts/circumstances triggering the obligation to notify: Non-exercise of
financial instruments

7. Time (date) of acquisition, sale or understanding through which the
shareholding reached, exceeded or fell below the percentage threshold: 16
November 2012

8. Representative of the Group members: Andrew Frank,

Och-Ziff Management Europe Ltd., 40 Argyll Street,

London W1F 7EB, United Kingdom

Tel: +44 207 758 44 33

Fax: +44 207 758 44 01

Adecco S.A.

Contact:
Investor Relations:
Tel: +41 44 878 89 89
E-Mail: investor.relations@adecco.com

Disclosure of shareholdings (PDF)

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