Exhibit 99.1

Towers Watson Reports Fourth Quarter Adjusted EPS of $0.90

Expect Fiscal 2011 Adjusted EPS of $3.95 to $4.10

NEW YORK--(BUSINESS WIRE)--August 19, 2010--

Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, today announced financial results for the fourth quarter of fiscal year 2010, which ended June 30, 2010.

Revenues were $750 million for the quarter, an increase from $397 million for the fourth quarter of fiscal 2009. The increase in revenues is driven by the merger between Towers Perrin and Watson Wyatt that became effective on January 1, 2010. Reported results for the fourth quarter of fiscal 2009 include only the financial results of Watson Wyatt. On a pro forma basis that includes Towers Perrin actual results in the fourth quarter of fiscal 2009, revenues declined 3% (-2% constant currency). The decline reflects the current economic environment. For the six months ended June 30, 2010, revenues were $1.55 billion.

EBITDA was $64 million, or 8.5% of revenues, for the quarter. In the fourth quarter of fiscal 2009, EBITDA was $72 million, or 18.2% of revenues. The decline in EBITDA as a percentage of revenues is due primarily to transaction and integration costs as well as non-cash stock-based compensation arising from the merger. Adjusted EBITDA was $118 million, or 15.8% of revenues, for the quarter. Adjusted EBITDA as a percentage of revenues is down from the prior year quarter due to a change in the mix of work and is consistent with merger expectations. For the six months ended June 30, 2010, adjusted EBITDA was $251 million, or 16.1% of revenues. Adjusted EBITDA excludes transaction and integration costs as well as non-cash stock-based compensation arising from the merger.

Net income was $58 million for the quarter, an increase from $31 million for the fourth quarter of fiscal 2009. The increase in net income was largely due to the income tax benefit, offset in part by transaction and integration costs, non-cash stock-based compensation arising from the merger and amortization of merger accounting intangible assets. Diluted earnings per share were $0.77 for the quarter, and adjusted diluted earnings per share were $0.90 for the quarter. For the six months ended June 30, 2010, adjusted diluted earnings per share were $1.82. Adjusted diluted earnings per share include a normalized income tax rate and exclude transaction and integration costs, non-cash stock-based compensation arising from the merger and amortization of merger accounting intangible assets.


The following information was filed by Towers Watson Co. on Thursday, August 19, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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