Exhibit 99.1

For Immediate Release

Contacts:
Investor Relations: Stephen Giusto, (310) 843-4144
Gregg Kvochak, (310) 556-8550
For Media: Mike Distefano, (310) 843-4199

Korn/Ferry International Announces Third Quarter Fiscal
2009 Results of Operations

Highlights

	•		Excluding a $16.8 million restructuring charge and a $15.3 million asset impairment charge recorded in the period, Q3’09 diluted earnings per share was $0.08. Third quarter fiscal 2009 diluted loss per share was $0.52 compared to diluted earnings per share of $0.37 in Q3’08.
	•		Third quarter fiscal 2009 fee revenue was $136.2 million, a 32% decline (27% decline on a constant currency basis) from the same quarter last year.

Los Angeles, CA, March 11, 2009 - Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions, announced third quarter fiscal 2009 diluted loss per share of $0.52 compared to diluted earnings per share of $0.37 in Q3’08. Excluding a $16.8 million restructuring charge and a $15.3 million non-cash asset impairment charge recorded in the period, earnings per share would have been $0.08.

Gary D. Burnison, Chief Executive Officer, Korn/Ferry stated, “The unprecedented economic environment has impeded business throughout the world. Despite our leading brand and diversified strategy, unfortunately we have not been immune from the recession that has affected virtually every company conducting business today. Nevertheless, we plan to leverage the strengths of our world-class client relationships, trusted brand, global footprint, leading consultants and diversified solutions mix to not only navigate the current environment, but more importantly, to best position us for acceleration through this economic storm and the inevitable recovery, paving the way for our continued transformation as a talent management solutions provider.” 

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

		Third Quarter								Year to date
		Q3’09				Q3’08				Q3’09				Q3’08
Fee revenue		$	136.2			$	201.2			$	531.2			$	582.4
Revenue		$	144.5			$	212.1			$	561.7			$	615.2
Operating (loss) income		$	(11.3	)		$	21.2			$	34.0			$	71.7
Operating margin			(8.3	%)			10.5	%			6.4	%			12.3	%
Net (loss) income		$	(22.4	)		$	16.3			$	7.1			$	50.5
Basic (loss) earnings per share		$	(0.52	)		$	0.38			$	0.16			$	1.14
Diluted (loss) earnings per share		$	(0.52	)		$	0.37			$	0.16			$	1.10
		Third								Year to
		Quarter								date
Adjusted Results (a):		Q3’09								Q3’09
Operating income		$	5.5							$	50.8
Operating margin			4.1	%							9.6	%
Net income		$	3.5							$	33.4
Basic earnings per share		$	0.08							$	0.77
Diluted earnings per share		$	0.08							$	0.75

Fee revenue was $136.2 million in Q3’09 compared to $201.2 million in Q3’08, a decrease of 32.3% (and a decrease of 26.7% on a constant currency basis). As the global economic and financial crisis intensified the Company experienced a 33.5% decline in the number of executive search engagements opened compared to a year ago and the average fee billed per engagement decreased by 16.6% compared to the prior year.

Compensation and benefits were $94.0 million in Q3‘09, a decrease of $44.6 million, or 32.2% (and a decrease of 26.3% on a constant currency basis), compared to $138.6 million in Q3’08. The decrease is attributable mainly to a reduction in worldwide headcount and a reduction in profitability based compensation. Changes in exchange rates impacted compensation and benefits in Q3’09 favorably by $8.2 million from Q3’08.

General and administrative expenses were $31.0 million in Q3’09, a decrease of $4.3 million, or 12.2% from $35.3 million in Q3’08. The decrease is attributable to the Company’s cost control initiatives. Changes in exchange rates impacted general and administrative expenses in Q3’09 favorably by $2.2 million from Q3’08.

The Company previously announced it would incur expenses to rationalize its cost structure to the changing economic environment. During the quarter the Company recorded a $16.8 million restructuring charge with $13.5 million of severance costs related to a reduction in work force, of which approximately $5.5 million was paid in cash during the quarter, and $3.3 million relating to the consolidation of premises.

Excluding the previously mentioned restructuring costs of $16.8 million, Q3’09 operating income was $5.5 million. Including the restructuring charge, the Company recorded an operating loss of $11.3 million in Q3’09 compared to operating income of $21.2 million in Q3’08, a decrease of $32.5 million.

Balance Sheet and Liquidity

Cash, cash equivalents and marketable securities were $289.9 million at January 31, 2009 compared to $298.3 million at January 31, 2008. The Company generated $18.3 million of cash flow in Q3’09.

During the quarter, given the severity and duration of the decline in the market value of marketable securities held on behalf of participants in certain long-term compensation programs, management recorded an impairment charge of $15.3 million to interest and other (loss) income. Because the impaired assets mirror liabilities to participants which have previously been adjusted to the market value of the assets, this non-cash charge does not impact the Company’s operations, operating income or liquidity.

Interest expense was $1.3 million in Q3’09 and $1.2 million in the same period last year. Interest expense in both years related primarily to borrowings under Korn/Ferry’s COLI policies.

Results by Segment

Selected Executive Recruitment Data
(dollars in millions)

		Third Quarter								Year to date
		Q3’09				Q3’08				Q3’09				Q3’08
Fee revenue		$	116.6			$	173.0			$	451.4			$	501.9
Revenue		$	123.3			$	179.9			$	474.0			$	523.1
Operating income		$	5.2			$	29.0			$	63.5			$	94.7
Operating margin			4.5	%			16.8	%			14.1	%			18.9	%
Average number of consultants			516				521				521				512
Engagements (a)			1,217				1,830				4,806				5,483

		Third				Year to
		Quarter				date
Adjusted Results (b):		Q3’09				Q3’09
Operating income		$	16.3			$	74.6
Operating margin			14.0	%			16.5	%

Fee revenue was $116.6 million in Q3’09, a decrease of $56.4 million, or 32.6% from $173.0 million in Q3’08 (and a decrease of 27.6% on a constant currency basis). Fee revenue decreased in all regions due to a decrease in the overall number of engagements billed and an overall decrease of 11.1% in the average fee per engagement.

The Q3’09 operating income includes restructuring costs of $11.1 million without which operating income would have been $16.3 million. Operating income was $5.2 million in Q3’09 compared to $29.0 million in Q3’08 resulting in a decrease of $23.8 million from the prior year.

The total number of consultants at January 31, 2009 was 497, a decrease of 21 from January 31, 2008.

Selected Futurestep Data
(dollars in millions)

		Third Quarter								Year to date
		Q3’09				Q3’08				Q3’09				Q3’08
Fee revenue		$	19.6			$	28.2			$	79.8			$	80.5
Revenue		$	21.2			$	32.2			$	87.7			$	92.1
Operating (loss) income		$	(8.3	)		$	2.0			$	(4.2	)		$	5.6
Operating margin			(42.5	%)			7.1	%			(5.3	%)			7.0	%

		Third								Year to
		Quarter								date
Adjusted Results (a):		Q3’09								Q3’09
Operating (loss) income		$	(2.5	)						$	1.5
Operating margin			(12.9	%)							1.9	%

Fee revenue was $19.6 million in Q3’09, a decrease of $8.6 million, or 30.5% (and a decrease of 21.3% on a constant currency basis), from $28.2 million in Q3’08. Reductions in fee revenue were driven by a decrease in the average fee per engagement and to a lesser extent by a decrease in the number of engagements billed.

The Q3’09 operating loss includes restructuring costs of $5.8 million without which the operating loss would have been $2.5 million. Operating loss was $8.3 million in Q3’09 compared to operating income of $2.0 million in Q3’08.

Outlook

The global economic crisis has had a significant impact on many of our client’s people initiatives; as such, the demand for the Company’s suite of services experienced a precipitous decline in the last eight weeks of calendar 2008. Although the demand for the Company’s services has remained relatively consistent over the past two months, the macroeconomic climate remains uncertain. The Company plans to take further steps including a reduction of work force and possible consolidation of premises in Q4’09 to align its cost structure with anticipated revenue levels and currently plans to incur $10 million to $13 million of expenses to implement these steps. Based on new business confirmed subsequent to the end of the Q3’09, revenues would be approximately $110 million in Q4’09. However, this presumes an equivalent level of confirmations for the remainder of Q4’09. Given the unprecedented economic environment, predicting revenues is extremely imprecise, making a meaningful prediction about earnings impractical. Given these business conditions, the Company’s primary operating goal in the short run is to maintain neutral to positive cash flows as measured by earnings before interest,

taxes, depreciation and amortization and non-cash stock compensation. To the extent that business conditions continue to decline, further efforts to align the Company’s cost structure may not occur in time to retain positive cash flows by that measure in the final quarter of the fiscal year.

Earnings Conference Call Webcast

The earnings conference call will be held today at 9:00 AM (EDT) and hosted by Gary Burnison, Chief Executive Officer, and Stephen Giusto, Chief Financial Officer. 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 more than 90 offices in 40 countries, is a premier global provider of talent management solutions. Based in Los Angeles, the firm delivers an array of solutions that help clients to identify, deploy, develop, retain and reward their talent. For more information on the Korn/Ferry International family of companies, visit www.kornferry.com.

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. 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 relate to competition, the dependence on attracting and retaining qualified and experienced consultants, the portability of client relationships, local political or economic developments in or affecting countries where we have operations, including fluctuations in exchange rates, risks related to the growth and results of Futurestep, global economic developments, restrictions imposed by off-limits agreements, reliance on information systems 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”). These non-GAAP financial measures include adjusted operating income and operating margin, adjusted to exclude restructuring charges, and adjusted net income, basic earnings per share and diluted earnings per share, adjusted to exclude restructuring charges and an impairment charge on marketable securities.

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 non-GAAP financial measures in this press release provides meaningful supplemental information regarding Korn/Ferry’s performance by excluding certain charges that may not be indicative of Korn/Ferry’s operating results. The use of these non-GAAP financial measures facilitate comparisons to Korn/Ferry’s historical performance. Korn/Ferry includes these non-GAAP financial measures because management believes it is useful to investors in allowing for greater transparency with respect to supplemental 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 OPERATIONS
(in thousands, except per share amounts)
(unaudited)

		Three Months Ended								Nine Months Ended
		January 31,								January 31,
		2009				2008				2009				2008
Fee revenue		$	136,210			$	201,156			$	531,243			$	582,366
Reimbursed out-of-pocket engagement expenses			8,283				10,935				30,459				32,826
Total revenue			144,493				212,091				561,702				615,192
Compensation and benefits			93,978				138,594				365,849				391,984
General and administrative expense			30,963				35,255				97,316				101,168
Out-of-pocket engagement expenses			11,041				14,250				39,071				42,664
Depreciation and amortization			2,924				2,812				8,637				7,701
Restructuring charges			16,845				—				16,845				—
Total operating expense			155,751				190,911				527,718				543,517
Operating (loss) income			(11,258	)			21,180				33,984				71,675
Interest and other (loss) income, net			(16,061	)			3,777				(16,865	)			6,074
(Loss) income before (benefit) provision for income taxes and equity in earnings of unconsolidated subsidiaries			(27,319	)			24,957				17,119				77,749
(Benefit) provision for income taxes			(4,549	)			9,353				12,327				29,753
Equity in earnings of unconsolidated subsidiaries, net			414				652				2,316				2,469
Net (loss) income		$	(22,356	)		$	16,256			$	7,108			$	50,465
Basic (loss) earnings per common share		$	(0.52	)		$	0.38			$	0.16			$	1.14
Basic weighted average common shares outstanding			43,406				43,247				43,538				44,273
Diluted (loss) earnings per common share		$	(0.52	)		$	0.37			$	0.16			$	1.10
Diluted weighted average common shares outstanding			43,406				44,303				44,352				45,839

KORN/FERRY INTERNATIONAL AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
EXCLUDING NON-GAAP ADJUSTMENTS
(in thousands, except per share amounts)
(unaudited)

		Three Months Ended												Nine Months Ended
		January 31,												January 31,
		2009 - As								2009 - As				2009 - As								2009 - As
		Reported				Adjustments				Adjusted				Reported				Adjustments				Adjusted
Fee revenue		$	136,210							$	136,210			$	531,243							$	531,243
Reimbursed out-of-pocket engagement expenses			8,283								8,283				30,459								30,459
Total revenue			144,493								144,493				561,702								561,702
Compensation and benefits			93,978								93,978				365,849								365,849
General and administrative expense			30,963								30,963				97,316								97,316
Out-of-pocket engagement expenses			11,041								11,041				39,071								39,071
Depreciation and amortization			2,924								2,924				8,637								8,637
Restructuring charges (1)			16,845				(16,845	)			—				16,845				(16,845	)			—
Total operating expense			155,751				(16,845	)			138,906				527,718				(16,845	)			510,873
Operating (loss) income			(11,258	)							5,587				33,984								50,829
Interest and other (loss) income, net (2)			(16,061	)			15,348				(713	)			(16,865	)			15,893				(972	)
(Loss) income before (benefit) provision for income taxes and equity in earnings of unconsolidated subsidiaries			(27,319	)							4,874				17,119								49,857
(Benefit) provision for income taxes (3)			(4,549	)			6,381				1,832				12,327				6,401				18,728
Equity in earnings of unconsolidated subsidiaries, net			414								414				2,316								2,316
Net (loss) income		$	(22,356	)						$	3,456			$	7,108							$	33,445
Basic (loss) earnings per common share		$	(0.52	)						$	0.08			$	0.16							$	0.77
Basic weighted average common shares outstanding			43,406								43,406				43,538								43,538
Diluted (loss) earnings per common share		$	(0.52	)						$	0.08			$	0.16							$	0.75
Diluted weighted average common shares outstanding			43,406								43,406				44,352								44,352

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

		Three Months Ended																Nine Months Ended
		January 31,																January 31,
		2009								2008								2009								2008
Fee Revenue:
Executive recruitment:
North America		$	66,978							$	94,812							$	252,649							$	276,988
EMEA			30,423								46,292								122,499								133,072
Asia Pacific			13,591								25,322								56,181								72,639
South America			5,650								6,617								20,063								19,184
Total executive recruitment			116,642								173,043								451,392								501,883
Futurestep			19,568								28,113								79,851								80,483
Total fee revenue			136,210								201,156								531,243								582,366
Reimbursed out-of-pocket engagement expenses			8,283								10,935								30,459								32,826
Total revenue		$	144,493							$	212,091							$	561,702							$	615,192
						Margin								Margin								Margin								Margin
Operating (Loss) Income:
Executive recruitment:
North America		$	10,767				16.1	%		$	16,167				17.1	%		$	45,601				18.0	%		$	57,346				20.7	%
EMEA			(6,291	)			(20.7	%)			7,116				15.4	%			8,105				6.6	%			20,871				15.7	%
Asia Pacific			367				2.7	%			5,444				21.5	%			7,110				12.7	%			14,595				20.1	%
South America			373				6.6	%			291				4.4	%			2,667				13.3	%			1,836				9.6	%
Total executive recruitment			5,216				4.5	%			29,018				16.8	%			63,483				14.1	%			94,648				18.9	%
Futurestep			(8,309	)			(42.5	%)			2,026				7.2	%			(4,233	)			(5.3	%)			5,642				7.0	%
Corporate			(8,165	)							(9,864	)							(25,266	)							(28,615	)
Total operating (loss) income		$	(11,258	)			(8.3	%)		$	21,180				10.5	%		$	33,984				6.4	%		$	71,675				12.3	%
Restructuring Charges:
Executive recruitment:
North America		$	2,557				3.8	%		$	—				0.0	%		$	2,557				1.1	%		$	—				0.0	%
EMEA			6,606				21.7	%			—				0.0	%			6,606				5.4	%			—				0.0	%
Asia Pacific			947				7.0	%			—				0.0	%			947				1.6	%			—				0.0	%
South America			956				16.9	%			—				0.0	%			956				4.7	%			—				0.0	%
Total executive recruitment			11,066				9.5	%			—				0.0	%			11,066				2.4	%			—				0.0	%
Futurestep			5,779				29.6	%			—				0.0	%			5,779				7.2	%			—				0.0	%
Corporate			—								—								—								—
Total operating income		$	16,845				12.4	%		$	—				0.0	%		$	16,845				3.2	%		$	—				0.0	%

						Margin								Margin								Margin								Margin
Adjusted Operating Income: (Excluding Restructuring charges)
Executive recruitment:
North America		$	13,324				19.9	%		$	16,167				17.1	%		$	48,158				19.1	%		$	57,346				20.7	%
EMEA			315				1.0	%			7,116				15.4	%			14,711				12.0	%			20,871				15.7	%
Asia Pacific			1,314				9.7	%			5,444				21.5	%			8,057				14.3	%			14,595				20.1	%
South America			1,329				23.5	%			291				4.4	%			3,623				18.0	%			1,836				9.6	%
Total executive recruitment			16,282				14.0	%			29,018				16.8	%			74,549				16.5	%			94,648				18.9	%
Futurestep			(2,530	)			(12.9	%)			2,026				7.2	%			1,546				1.9	%			5,642				7.0	%
Corporate			(8,165	)							(9,864	)							(25,266	)							(28,615	)
Total adjusted operating income		$	5,587				4.1	%		$	21,180				10.5	%		$	50,829				9.6	%		$	71,675				12.3	%

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

		As of				As of
		January 31, 2009				April 30, 2008
		(unaudited)
ASSETS
Cash and cash equivalents		$	217,486			$	305,296
Marketable securities			2,094				5,940
Receivables due from clients, net of allowance for doubtful accounts of $12,501 and $11,504, respectively			98,200				119,952
Income taxes and other receivables			6,247				7,071
Deferred income taxes			11,636				10,401
Prepaid expenses and other assets			21,949				20,057
Total current assets			357,612				468,717
Marketable securities, non-current			70,299				78,026
Property and equipment, net			32,395				32,462
Cash surrender value of company owned life insurance policies, net of loans			62,437				81,377
Deferred income taxes			35,072				47,128
Goodwill			131,997				142,699
Intangible assets, net			17,146				15,519
Other assets			28,112				14,286
Total assets		$	735,070			$	880,214
LIABILITIES AND SHAREHOLDERS’ EQUITY
Accounts payable		$	9,191			$	15,309
Income taxes payable			1,180				20,948
Compensation and benefits payable			113,394				199,081
Other accrued liabilities			38,143				37,120
Total current liabilities			161,908				272,458
Deferred compensation and other retirement plans			100,667				105,719
Other liabilities			5,677				5,903
Total liabilities			268,252				384,080
Shareholders’ equity
Common stock: $0.01 par value, 150,000 shares authorized, 56,085 and 54,786 shares issued and 44,696 and 44,593 shares outstanding, respectively			365,172				358,568
Retained earnings			102,122				95,014
Accumulated other comprehensive income			64				43,097
Shareholders’ equity			467,358				496,679
Less: notes receivable from shareholders			(540	)			(545	)
Total shareholders’ equity			466,818				496,134
Total liabilities and shareholders’ equity		$	735,070			$	880,214