CTPartners Announces Filing Extension for Form 10-K

CTPartners today announced that the Company filed a Form 12b-25, Notification of Late Filing, with the U.S. Securities and Exchange Commission that allows the Company to extend the deadline to file its Form 10-K for the year ended December 31, 2014. The Company is engaged in discussions with an institutional lender in connection with a second lien financing and with JP Morgan in connection with an amendment to its existing credit facility. The Company believes that the financing agreements will be completed in the near term. The financing agreements will impact information and disclosures contained in the Form 10-K. The Company expects to be able to make the filing by the extended deadline of April 15, 2015. The Company also plans to announce its fourth quarter and full year 2014 results by the extended deadline.

The Board of Directors has announced that, as a consequence of the delayed Form 10-K filing, Brian Sullivan will continue to serve as Chief Executive Officer until the Company has filed the Form 10-K because of Mr. Sullivan’s familiarity with the Company’s operations, accounting and internal controls for the period covered by the Form 10-K. Sylvain Dhenin will assume the role of Chief Executive Officer immediately following the filing. Mr. Sullivan’s departure from the Board of Directors will occur on April 2, 2015 as previously announced. Michael Feiner, an independent director, has agreed to serve as interim Chairman of the Board.

The Company stated that the Special Committee of the Board of Directors formed to review the Company’s strategic alternatives, as announced on February 24, 2015, has been working actively with its advisors to evaluate all of the Company’s strategic alternatives. As the Special Committee has previously stated, it does not intend to report further on the status of its review process until the committee has made its recommendation to the Board of Directors.

About CTPartners

CTPartners is a leading global executive search firm that is designed to deliver in-depth expertise, creative strategies, and outstanding results to clients worldwide. Committed to a philosophy of partnering with its clients, CTPartners offers a proven track record in C-Suite, top executive, and board searches, as well as extensive experience in serving private equity and venture capital firms.

From its 44 offices in 24 countries, CTPartners serves clients with a global organization of more than 500 professionals and employees, offering expertise in board advisory services, key leadership functions, and executive recruiting services in the financial services, life sciences, industrial, professional services, retail and consumer, and technology, media and telecom industries.

Safe Harbor Statement

The following is a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements. As a general matter, forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be identified by the use of forward looking terminology such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of those words or other comparable words, but the absence of these words does not necessarily mean that a statement is not forward-looking. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for the disclosure of forward-looking statements.

The forward-looking statements contained in this press release are based upon our current plans, expectations and other factors we believe are appropriate under the circumstances. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will be achieved since these forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if our underlying expectations or assumptions prove to be incorrect, our actual outcomes and results may vary materially from those indicated in these statements. Some of the key uncertainties and factors that could affect outcomes and actual results to differ materially from those expressed or implied by forward-looking statements are: our expectation to be able to secure financing, our expectations regarding our revenues, expenses and operations and our ability to sustain profitability; our ability to recruit and retain qualified executive search consultants to staff our operations appropriately; our ability to successfully integrate new executive search consultants and acquired search firms into our operations; our ability to expand our customer base and relationships, especially given the off-limit arrangements we are required to enter into with certain of our clients; further declines in the global economy and our ability to execute successfully through business cycles; our anticipated cash needs; projected cost savings as a result of reorganization; our anticipated growth strategies and sources of new revenues; unanticipated trends and challenges in our business and the markets in which we operate; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; and the mix of profit and loss by country in which we operate.

The above list should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our annual report on Form 10-K filed on March 12, 2014. The forward looking statements included in this press release are made only as of the date hereof. We do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. You should, however, review the factors and risks we describe in the reports we will file from time to time with the Securities and Exchange Commission.

Contacts:

CTPartners
William J. Keneally, 216-682-3103
Chief Financial Officer
wkeneally@ctnet.com
or
EVC Group
Chris Dailey/Robert Jones, 646-445-4801
Investor Relations
cdailey@evcgroup.com

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