Press Releases

Barrett Business Services, Inc. Announces Acquisition of HR Only

PORTLAND, Oregon, Feb. 3 /PRNewswire/ -- Barrett Business Services, Inc.

(Nasdaq: BBSI) announced today that it has acquired D&L Personnel Department

Specialists, Inc., dba HR Only, a Los Angeles-based staffing services company

which specializes in human resource professionals.

Terms of the purchase agreement included $1.8 million in cash for all of

the outstanding common stock of HR Only and $1.2 million in cash for

noncompete agreements with certain individuals, of which $1.0 million will be

deferred for five years and then be paid ratably over the succeeding five-year


HR Only, with an office in Los Angeles and in Orange County, California,

provides professional staffing specialists for the human resource needs of a

broad range of companies in Southern California. HR Only's human resource

staffing expertise includes employee benefits, recruiting, human resource

information systems, employee relations, training, collective bargaining,

compensation, senior management, project management and consulting. HR Only's

revenues for the fiscal year ended January 31, 1997 were approximately $4.3


Commenting on the acquisition, William W. Sherertz, Barrett's President

and Chief Executive Officer, stated, "We are very pleased with the strategic

fit and longer-term opportunities HR Only represents for our company. We

believe that this staffing specialty may be expanded into other cities where

we operate and further strengthen our position as a human resource management


Barrett Business Services, Inc. is a human resource management company

with offices in Washington, Oregon, Idaho, California, Arizona, Maryland and

Delaware. Barrett reported revenues of $179.8 million and net income of $4.1

million for 1995.
SOURCE: Barrett Business Services Inc.

CONTACT: William W. Sherertz, President and Chief Executive Officer, of Barrett Business Services, Inc. 503-220-0988