Exhibit 99.1

For Immediate Release

Contacts:
Investor Relations: Gregg Kvochak, (310) 556-8550
For Media: Mike Distefano, (310) 843-4199

Korn/Ferry International Announces First Quarter Fiscal 2012 Results of Operations

Highlights

•

Q1 FY’12 fee revenue increased 18% to $206.3 million, compared to $175.1 million in the same quarter last year.

•

Q1 FY’12 diluted earnings per share was $0.33, compared to diluted earnings per share of $0.24 in Q1 FY’11.

Los Angeles, CA, September 8, 2011 - Korn/Ferry International (NYSE: KFY), a premier global provider of talent management solutions, announced Q1 FY’12 diluted earnings per share of $0.33 compared to diluted earnings per share of $0.24 in Q1 FY’11.

“Korn/Ferry performed well, as evidenced by the firm’s ninth consecutive quarter of fee revenue growth and 18% growth year over year,” said Gary Burnison, CEO, Korn/Ferry International. “I am encouraged by our results, particularly in this tumultuous economic environment as the global economy struggles to rationalize the new normal. Irrespective of the macro conditions, leading organizations recognize that attracting and developing the best people is a continual priority. Korn/Ferry will continue to seek out opportunity from the volatility which has enveloped the world.”

Financial Results
(dollars in millions, except per share amounts)

		First Quarter
		FY’12				FY’11
Fee revenue		$	206.3			$	175.1
Total revenue		$	214.6			$	183.2
Operating income		$	25.9			$	19.3
Operating margin			12.6	%			11.0	%
Net income		$	15.4			$	10.9
Basic earnings per share		$	0.34			$	0.24
Diluted earnings per share		$	0.33			$	0.24

Fee revenue was $206.3 million in Q1 FY’12 compared to $175.1 million in Q1 FY’11, an increase of $31.2 million, or 18%, which reflects increases in fee revenue from all segments of the business driven primarily by a 12% increase in the overall number of engagements billed as well as a 5% increase in the weighted-average fee billed per engagement compared to the year-ago fiscal quarter. Weighted-average fee billed is impacted by the mix of engagements by segment and fluctuating foreign currencies. On a constant currency basis, fee revenue increased $17.8 million, or 10%.

Compensation and benefits were $137.4 million in Q1 FY’12, an increase of $17.2 million, or 14%, compared to $120.2 million in Q1 FY’11. This increase is attributable mainly to an increase in worldwide headcount compared to the year-ago fiscal quarter. On a constant currency basis, compensation and benefits increased $7.6 million, or 6%.

General and administrative expenses were $34.8 million in Q1 FY’12, an increase of $6.2 million, or 22% from $28.6 million in Q1 FY’11. This increase is attributable to an increase in premise and office expenses, professional fees, business development expenses and an increase in unrealized foreign exchange losses. Premise and office expenses increased due to the timing of lease renewals in existing cities. Travel and business development expenses, including costs associated with social media initiatives, increased primarily due to the increase in our overall business activities reflected in the 18% increase in fee revenues. On a constant currency basis, general and administrative expenses increased $3.4 million, or 12%.

Operating income was $25.9 million in Q1 FY’12 compared to operating income of $19.3 million in Q1 FY’11, an increase of $6.6 million, or an increase of 34%.

Balance Sheet and Liquidity

Cash and marketable securities were $281.2 million at July 31, 2011 compared to $369.1 million at April 30, 2011. Cash and marketable securities include $79.2 million and $71.4 million held in trust for deferred compensation plans at July 31, 2011 and April 30, 2011, respectively. Cash and marketable securities decreased by $87.9 million from April 30, 2011, mainly due to payment of FY’11 annual bonuses paid in Q1 FY’12, partially offset by cash provided by operating activities.

Results by Segment

Selected Executive Recruitment Data
(dollars in millions)

		First Quarter
		FY’12				FY’11
Fee revenue		$	176.1			$	154.9
Total revenue		$	182.9			$	161.4
Operating income		$	35.6			$	27.7
Operating margin			20.2	%			17.9	%
Ending number of consultants			474				478
Average number of consultants			472				476
Engagements billed			4,092				3,723
New engagements (a)			1,965				1,890

Fee revenue was $176.1 million in Q1 FY’12, an increase of $21.2 million, or 14%, when compared to fee revenue of $154.9 million in Q1 FY’11. Fee revenue increased in all regions due to a 10% increase in the number of executive recruitment engagements billed and a 3% increase in the weighted-average fee per engagement billed when compared to Q1 FY’11. Weighted-average fee billed is impacted by the mix of engagements by region and fluctuating foreign currencies. On a constant currency basis, fee revenue increased $11.6 million, or 7%.

Operating income was $35.6 million in Q1 FY’12 compared to operating income of $27.7 million in Q1 FY’11, an increase of $7.9 million. This increase is primarily attributed to the $21.2 million increase in fee revenue in Q1 FY’12 as compared to Q1 FY’11, which was partially offset by a $10.1 million and $2.3 million increase in compensation and benefits expense and general and administrative expenses, respectively. The increase in compensation and benefits expense primarily resulted from an increase in headcount, and the increase in general and administrative expense, which was primarily driven by an increase in premise and office expense and business development expenses, both of which were due to an increase in overall business activities.

The total number of consultants at July 31, 2011 and 2010 was 474 and 478, respectively.

Selected Futurestep Data
(dollars in millions)

		First Quarter
		FY’12				FY’11
Fee revenue		$	30.2			$	20.2
Total revenue		$	31.7			$	21.8
Operating income		$	2.3			$	1.0
Operating margin			7.6	%			4.9	%

Fee revenue was $30.2 million in Q1 FY’12, an increase of $10.0 million, or 50%, from $20.2 million in Q1 FY’11. The improvement in fee revenue was driven by a 28% increase in the weighted-average fee billed per engagement, as well as a 17% increase in the number of engagements billed. The increase in fee revenue was also positively impacted by an increase in engagement activity for existing clients in Q1 FY’12 compared to Q1 FY’11. On a constant currency basis, fee revenue increased $6.2 million, or 31%.

Operating income was $2.3 million in Q1 FY’12 compared to operating income of $1.0 million in Q1 FY’11, an increase of $1.3 million, or 130%. This increase is primarily attributed to the $10.0 million increase in fee revenue in Q1 FY’12 as compared to Q1 FY’11, which was partially offset by a $7.2 million and $1.3 million increase in compensation and benefits expense and general and administrative expenses, respectively. The increase in compensation and benefits expense was attributable mainly to an increase in headcount and to a lesser degree an increase in the variable component of compensation when compared to the year-ago fiscal quarter. The increase in general and administrative expense was primarily driven by an increase in overall business activities.

Outlook

Given the uncertainty caused by the global economy and financial markets, it is more challenging to accurately forecast business results. However, assuming economic conditions, financial markets and foreign exchange rates do remain steady, Q2 FY’12 fee revenue is likely to be in the range of $192 million to $210 million and diluted earnings per share is likely to be in the range of $0.30 to $0.36.

Earnings Conference Call Webcast

The earnings conference call will be held today at 5:30 PM (EDT) and hosted by CEO Gary Burnison, CFO Mike DiGregorio and SVP Finance Gregg Kvochak. The conference call will be webcast and available online at www.kornferry.com, accessible through the Investor Relations section.

Korn/Ferry International (NYSE: KFY), with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, deploy, develop and reward their talent. Visit www.kornferry.com for more information on the Korn/Ferry International family of companies, and www.kornferryinstitute.com for thought leadership, intellectual property and research.

Forward-Looking Statements

Statements in this press release and our conference call that relate to future results and events (“forward-looking statements”) are based on Korn/Ferry’s current expectations. These statements, which include words such as “believes”, “expects” or “likely” include references to our outlook. Readers are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn/Ferry. The potential risks and uncertainties include those relating to competition, the dependence on attracting and retaining qualified and experienced consultants, maintaining our brand name and professional reputation, potential legal liability, the portability of client relationships, global and local political or economic developments in or affecting countries where we have operations, currency fluctuations in our international operations, risks related to the growth, alignment of our cost structure with our growth, restrictions imposed by off-limits agreements, reliance on information processing systems, our ability to enhance and develop new technology, the successful integration of acquired businesses, our ability to develop new products and services, impairment of goodwill and other intangible assets, deferred tax assets and employment liability risk. For a detailed description of risks and uncertainties that could cause differences, please refer to Korn/Ferry’s periodic filings with the Securities and Exchange Commission. Korn/Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Use of Non-GAAP Financial Measures

This press release contains financial information calculated other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). In particular, it includes:

•

constant currency amounts that represent the outcome that would have resulted had exchange rates in the reported period been the same as those in effect in the comparable prior year period.

This non-GAAP disclosure has limitations as an analytical tool, should not be viewed as a substitute for financial information determined in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of the Company’s results as reported under GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

Management believes the presentation of this non-GAAP financial measure in this press release provides meaningful supplemental information regarding Korn/Ferry’s performance as excluding the impact of exchange rate changes on Korn/Ferry’s financial performance allows investors to make more meaningful period-to-period comparisons of the Company’s operating results, the ability to better identify operating trends that may otherwise be masked or distorted by exchange rate changes and to perform related trend analysis, and provides a higher degree of transparency of information used by management in its evaluation of Korn/Ferry’s ongoing operations and financial and operational decision-making.

[Tables attached]

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)

		Three Months Ended
		July 31,
		2011				2010
		(unaudited)
Fee revenue		$	206,331			$	175,112
Reimbursed out-of-pocket engagement expenses			8,259				8,050
Total revenue			214,590				183,162
Compensation and benefits			137,371				120,208
General and administrative expenses			34,773				28,615
Out-of-pocket engagement expenses			13,135				12,099
Depreciation and amortization			3,369				2,968
Total operating expenses			188,648				163,890
Operating income			25,942				19,272
Other loss, net			(2,022	)			(1,501	)
Interest expense, net			(581	)			(808	)
Income before provision for income taxes and equity in earnings of unconsolidated subsidiaries			23,339				16,963
Income tax provision			8,435				6,521
Equity in earnings of unconsolidated subsidiaries, net			507				462
Net income		$	15,411			$	10,904
Earnings per common share:
Basic		$	0.34			$	0.24
Diluted		$	0.33			$	0.24
Weighted-average common shares outstanding:
Basic			45,969				44,642
Diluted			47,299				45,755

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
FINANCIAL SUMMARY BY SEGMENT
(in thousands)
(unaudited)

		Three Months Ended July 31,
		2011								2010				% Change
Fee Revenue:
Executive recruitment:
North America		$	98,425							$	89,975				9	%
EMEA			43,242								36,268				19	%
Asia Pacific			25,675								21,142				21	%
South America			8,791								7,486				17	%
Total executive recruitment			176,133								154,871				14	%
Futurestep			30,198								20,241				49	%
Total fee revenue			206,331								175,112				18	%
Reimbursed out-of-pocket engagement expenses			8,259								8,050				3	%
Total revenue		$	214,590							$	183,162				17	%

						Margin								Margin
Operating Income:
Executive recruitment:
North America		$	24,026				24.4	%		$	19,675				21.9	%
EMEA			5,344				12.4	%			3,053				8.4	%
Asia Pacific			3,934				15.3	%			3,069				14.5	%
South America			2,283				26.0	%			1,879				25.1	%
Total executive recruitment			35,587				20.2	%			27,676				17.9	%
Futurestep			2,306				7.6	%			989				4.9	%
Corporate			(11,951	)							(9,393	)
Total operating income		$	25,942				12.6	%		$	19,272				11.0	%

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except per share amounts)

		July 31,				April 30,
		2011				2011
		(unaudited)
ASSETS
Cash and cash equivalents		$	156,937			$	246,856
Marketable securities			21,232				20,868
Receivables due from clients, net of allowance for doubtful accounts of $10,853 and $9,977 respectively			152,250				128,859
Income taxes and other receivables			4,747				5,138
Deferred income taxes			11,124				10,214
Prepaid expenses and other assets			32,359				29,662
Total current assets			378,649				441,597
Marketable securities, non-current			103,043				101,363
Property and equipment, net			46,010				43,142
Cash surrender value of company owned life insurance policies, net of loans			72,080				70,987
Deferred income taxes			62,134				64,418
Goodwill			182,095				183,952
Intangible assets, net			21,728				22,289
Investments and other assets			47,029				43,932
Total assets		$	912,768			$	971,680
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable		$	13,435			$	12,504
Income taxes payable			4,369				4,674
Compensation and benefits payable			92,995				173,097
Other accrued liabilities			47,289				43,591
Total current liabilities			158,088				233,866
Deferred compensation and other retirement plans			137,643				139,558
Other liabilities			20,158				19,919
Total liabilities			315,889				393,343
Stockholders’ equity
Common stock: $0.01 par value, 150,000 shares authorized, 59,789 and 59,101 shares issued and 47,720 and 47,003 shares outstanding, respectively			408,606				404,703
Retained earnings			163,905				148,494
Accumulated other comprehensive income, net			24,886				25,660
Stockholders’ equity			597,397				578,857
Less: notes receivable from stockholders			(518	)			(520	)
Total stockholders’ equity			596,879				578,337
Total liabilities and stockholders’ equity		$	912,768			$	971,680