HTP Hat Pin

    Trading Statement
             



                             Hat Pin plc

                           Trading Update

Hat Pin plc, the international human resources group, today announces
the following  trading  update  ahead  of  the  announcement  of  its
preliminary results  for the  year ended  31 December  2007 in  March
2008.

Key facts

*   Strong performances from acquired businesses: Akamai Financial
  Markets, Saxton Bampfylde and Executive Access India*
*   Poor performance from legacy firm: The Talent Business was
  loss-making in second half
*   Overall group profitability materially impacted by The Talent
  Business resulting in profits for the year falling below market
  expectations
          o  Former CEO of The Talent Business has left the company
and new leadership installed
*   Group well positioned for 2008
          o  Approximate profits split - 70% Asia & the Far East, 30%
UK
          o  Increased healthy exposure to less cyclical public
sector markets

       * Executive Access figures for last five months of 2007

Trading Update

Trading has been  above management expectations  in Akamai  Financial
Markets, Saxton Bampfylde  and Executive Access  India, all of  which
have been acquired by Hat Pin over the past two years.

Performance in The  Talent Business, the  original Hat Pin  operating
company, has deteriorated since the interim announcement and, despite
a rally  between  September  and  November,  suffered  a  decline  in
December 2007.  As  a consequence The  Talent Business has  performed
significantly below  management  expectations  for the  period  as  a
whole.

Group profitability for the year has been materially impacted by  the
performance of The Talent Business and  is now expected to be  around
25% below market expectations.

The Board has considered all available options to redress the trading
position of Hat Pin  and concluded that the  optimum route to  create
shareholder value is  to continue with  its strategy of  diversifying
group revenue streams, grow its profitable businesses and change  the
leadership team of  The Talent  Business to  refocus and  restructure
operations.

In  the  UK,   performance  in  late   December  and  early   January
demonstrated some  weakening.   The Directors  believe that  this  is
likely the result  of deteriorating  economic conditions.   This  was
apparent through the  high level  of income deferred  into quarter  1
2008 and modest pricing pressure.  However, following the  refocusing
and restructuring of The Talent Business, the Board believes that Hat
Pin will be well positioned with approximately 70% of profits  coming
from Asia and the Far East, and the majority of its 240 staff located
in this geographic region.  The Group also has a healthy exposure  to
the public sector marketplace through Saxton Bampfylde (augmented  by
last year's acquisition  and integration of  KPMG's executive  search
team).

The Talent Business

Following  2007's   significant   investment   in   the   rebranding,
reorganisation, geographic expansion  and US relaunch  of The  Talent
Business, trading  in the  second  half of  the  year has  been  very
disappointing.

Despite considerable efforts by the senior management team, supported
by the Hat  Pin Board,  actions taken in  the second  half failed  to
deliver a  more favourable  performance outcome  for 2007.   This  in
turn led to a deterioration of  working relations between the Hat Pin
Board and the former CEO of  the business, Gary Stolkin, who has  now
left The Talent Business.

With immediate effect,  Mike Brennan, executive  director of Hat  Pin
and formerly  CEO of  Akamai Financial  Markets, has  been  appointed
Chairman of The Talent Business with a brief to refocus the  business
and install an appropriate management structure.

Commenting on developments, Angela Campbell-No�, Chief Executive of
Hat Pin plc, said:

"The Board has taken decisive action to resolve the unacceptable
trading performance of The Talent Business.

"While disappointed with the overall group result, we are delighted
with the strong performances of Akamai Financial Markets, Executive
Access India and Saxton Bampfylde.  All of these businesses
out-performed expectations and start 2008 with a healthy pipeline.

"The Board therefore believes that Hat Pin is now well positioned in
2008."

                                ENDS

For further information please contact:

Hat Pin plc
+44 (0)20 7438 8600
Terry Hitchcock, Non-Executive Chairman
Angela Campbell-No�, Chief Executive
Paul Billett, Finance Director

Arden Partners plc
+44 (0)121 423 8943
Steve Douglas

The Hogarth Partnership
+44 (0)20 7357 9477
Julian Walker

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