Exhibit Number 99.2

Press Release

PRG-Schultz Announces Closing of HS&A Transaction;  Preliminary Q4 2001 Results;
Board Decision to Reclassify  Remaining  Discontinued  Operations As Continuing;
and 2002 Outlook

Company  Expects to Report Q4 2001  Earnings Per Diluted  Share From  Continuing
Operations  of $0.08 Prior to Special  Charges and Revenue  Growth of 12.6% Over
Prior Year Period;  2002  Pro-Forma  Earnings Per Diluted  Share  Expected To be
Approximately $0.65

ATLANTA,  Jan. 24  /PRNewswire-FirstCall/  -- PRG-Schultz (Nasdaq:  PRGX - news)
announced earlier today that the Company's  shareholders  approved the Company's
issuance of shares and options to acquire Howard  Schultz & Associates,  as well
as the election of four new members of the  Company's  board of  directors.  The
transaction closed earlier today.

"PRG-Schultz  represents  the  very  best in the  industry's  human  talent  and
sophisticated   technologies,"  said  John  Cook,  chief  executive  officer  of
PRG-Schultz.  "Together,  we will  expand  the scope of our  audits,  audit more
closely to the time of transactions,  and provide an enhanced service  offering.
The combined  capabilities  of  PRG-Schultz  will enable us to deliver  superior
results and maximize  findings  for our clients,  while at the same time driving
profitability."

Preliminary Fourth Quarter 2001 Results

For the fourth quarter of 2001, the Company expects to report  approximately $73
million in revenues from continuing  operations,  representing 12.6% growth over
the prior year period.  Prior to special charges,  the Company expects to report
earnings  per diluted  share from  continuing  operations  of $0.08.  Continuing
operations  in the  fourth  quarter  of 2001  consisted  solely of the  Accounts
Payable segment.  Special charges for the fourth quarter of 2001 are expected to
include  costs  associated  with  realignment  and  integration   activities  of
approximately $0.03 per diluted share, in line with previous Company guidance; a
non-cash charge of approximately $0.03 per diluted share representing  remaining
deferred loan costs associated with the  cancellation of the Company's  previous
bank credit facility, as previously disclosed; and up to approximately $0.02 per
diluted share associated with a write-down of accounts  receivable in connection
with the Chapter 11 filing of one of its clients, Kmart.

The  Company's  financial  results  for the  fourth  quarter  of 2001 are  still
undergoing  both  internal  verification  and  external  audit by the  Company's
independent auditors and, as such, are subject to change. The Company expects to
report complete and final financial results for the fourth quarter and full-year
ended December 31, 2001 on February 18, 2002.

"I am very  pleased  with  our  preliminary  financial  results  for the  fourth
quarter," commented John Cook, chief executive officer of PRG-Schultz.  "Revenue
growth  in our  Accounts  Payable  business  of  approximately  13%  was  driven

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primarily  by  strong  performance  in  our US  Retail  business,  which  was up
approximately  20% over the fourth quarter of last year. This level of growth in
the  current  environment  is highly  encouraging  and  confirms  that the value
proposition we offer our clients remains strong. It also says a great deal about
our management  and people,  all of whom have worked very hard to deliver strong
operating results during incredibly dynamic times for both the market as a whole
and our company."

Status of Discontinued Operations

The remaining discontinued operations have been for sale since the first quarter
of 2001 and, as such, the one-year period typically provided for under generally
accepted  accounting  principles to classify  operations as discontinued  and to
complete divestment is nearly complete.  Furthermore,  the Company has concluded
that the current  negative  market  conditions  are not conducive to receiving a
fair  price for these  businesses.  As such,  the newly  reconstituted  Board of
Directors,  which  met  earlier  today,  has  approved  a  proposal  to take the
Company's three remaining  discontinued  operations off the market. As a result,
beginning in the first  quarter of 2002,  the  financial  results of these three
businesses,  Meridian VAT Reclaim, the Communications Division, and the Ship and
Debit  business,  will  be  classified  as  part  of  the  Company's  continuing
operations and reported in a separate  operating  segment called Other Ancillary
Services.

As  previously  disclosed,  the  Company  realized a net loss on the sale of the
French Taxation  Services  Business of  approximately  $54 million in the fourth
quarter 2001.

Outlook

Cook  continued,  "Management  team  members  from both PRG and HS&A have  spent
approximately  six  months  working  hand-in-hand  to  develop a  detailed  2002
financial  plan for our combined  company.  Our approach  throughout has been to
thoughtfully  construct a `zero-based'  cost structure to maximize the long-term
growth of the combined  companies' revenue and earnings base. We believe we have
successfully  identified  this  steady-state  cost  structure  and  developed  a
methodical and  time-sequenced  series of work plans to achieve it by the end of
2002. We have  identified for each quarter those  anticipated  expenses that are
either  non-recurring  or  transitional in nature and we will be measuring these
and discussing them during our regular quarterly financial reporting. We believe
that this process will provide our  shareholders  with greater  insight into our
earnings run-rate going into 2003."

Full-year 2002

Revenues  for 2002 are  expected to  approximate  $470  million.  Revenues  from
Accounts  Payable  Services  are expected to be  approximately  $420 million and
revenues  from Other  Ancillary  Services are expected to be  approximately  $50
million.

For 2002, the Company expects to report,  prior to non-recurring  and transition
expenses, earnings per diluted share of approximately $0.65. Approximately $0.63

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per diluted share, prior to non-recurring and transition  expenses,  is expected
to  be  generated  from  Accounts   Payable   Services,   with  the  balance  of
approximately $0.02 expected to be generated from Other Ancillary Services.

Non-recurring  expenses  estimated at up to $10 million (or approximately  $0.08
per diluted share after-tax)  consist of one-time charges related to realignment
and integration  activities and include primarily severance and costs associated
with  the  elimination  of  duplicate  facilities  and  facilities   relocation.
Transition  expenses,  which represent costs in the process of being  eliminated
over  the  course  of  the  year,  are  estimated  at  up  to  $18  million  (or
approximately  $0.14 per  diluted  share  after-tax)  and  relate  primarily  to
centralization of IT, employment of duplicate personnel for a transition period,
and consultancy services related to integration execution.

First Quarter 2002

Revenues for the first quarter of 2002 are expected to approximate $104 million.
Revenues from Accounts  Payable  Services are expected to be  approximately  $90
million,  and  revenues  from  Other  Ancillary  services  are  expected  to  be
approximately $14 million.

For the  first  quarter  of  2002,  the  Company  expects  to  report,  prior to
non-recurring   and   transition   expenses,   earnings  per  diluted  share  of
approximately  $0.13.  Non-recurring  expenses and  transition  expenses for the
first quarter are estimated at $0.08 per diluted share.

The Company became subject to FAS 142,  "Goodwill and Other Intangible  Assets,"
effective  January  1,  2002.  FAS 142  requires  that an  intangible  asset  be
amortized  over its useful life and that goodwill not be amortized but evaluated
periodically for impairment.  Accordingly, the 2002 outlook does not include any
goodwill  amortization  expense. The 2002 outlook also does not include goodwill
impairment  charges,  if any,  which may be required under FAS 142. To date, the
Company has not made an evaluation or  assessment of future  potential  goodwill
impairment under the rules prescribed in FAS 142.

During 2001, the Company  classified  Meridian VAT Reclaim,  the  Communications
Division,  and the  Ship and  Debit  business  as  discontinued  operations  and
recorded them on the balance sheet at net realizable value. In the first quarter
of 2002, when the Company reclassifies them as continuing operations, a non-cash
gain or loss may result which has not yet been  calculated  and is not reflected
in the above outlook.

Conference Call and Webcast Information

As  previously  announced,  PRG-Schultz  will hold a conference  call  tomorrow,
January 25, 2002 at 9:00 AM EST to further discuss the information in this press
release and to provide an update with respect to other company developments.  To
access the  conference  call,  listeners in the US should dial  888.396.0289  at
least 5 minutes prior to the start of the conference.  Listeners  outside the US
should dial 712.257.2285.  To be admitted to the call, provide the leader's name

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`John Cook' and the passcode `PRGX.' The  teleconference  will also be audiocast
on the Internet at www.prgx.com . Microsoft  Windows Media Player is required to
access    the    audiocast.    Media    Player    can   be    downloaded    from
www.microsoft.com/windows/mediaplayer .

About PRG-Schultz International, Inc.

Headquartered in Atlanta,  PRG-Schultz International,  Inc. (PRG-Schultz) is the
world's  leading  provider  of  recovery  audit  services.  PRG-Schultz  employs
approximately  3,500 employees in 34 countries providing clients with insightful
value to optimize and expertly manage their business transactions. PRG-Schultz's
clients  represent  a  variety  of  industries  including  retailing,  wholesale
distribution,    manufacturing,    government,    high-tech,    and   healthcare
organizations.  Shares of PRG-Schultz  are traded on the NASDAQ  National Market
under  the  symbol  PRGX.  For  additional  information  visit  our web  site at
www.prgx.com.

Forward Looking Statements

Statements  made in this news release  which look forward in time involve  risks
and uncertainties and are  forward-looking  statements within the meaning of the
Private  Securities  Litigation Reform Act of 1995. Such risks and uncertainties
include the following:  (i) we may not be able to successfully  integrate Howard
Schultz and  Associates and achieve the planned post-  acquisition  synergy cost
savings due to  unexpected  costs,  loss of former  Schultz  auditors  and other
personnel,  loss of revenue  with respect to shared  clients and other  reasons,
(ii) if the current economic slowdown  continues,  our clients may not return to
previous  purchasing  levels,  and as a result  we may be  unable  to  recognize
anticipated  revenues,  (iii)  the  bankruptcy  of any of  our  larger  clients,
including without  limitation,  potential  negative effects of the recent K-Mart
bankruptcy  filing could impair  then-existing  accounts  receivable  and reduce
expected future revenues from such clients, (iv) since the businesses comprising
the other  ancillary  services  segment have been operated  during the last year
primarily  for the  purpose  of  preparing  them  for  sale,  they  may  require
additional  time  and  effort  of  Company  executives  and  additional  Company
resources to help them achieve  profitability  and may distract  management from
its focus on the  Company's  core  accounts  payable  business,  and there is no
guaranty  that  the  Company  can  operate  these  businesses   efficiently  and
profitably,   (v)  the  previously   announced   intention  to  dispose  of  the
discontinued  operations  has in  some  instances  resulted  in the  loss of key
personnel  and  diminished  operating  results in such  operations  which may be
difficult to reverse going forward,  (vi) we may not achieve anticipated expense
savings,  (vii) our past and future investments in technology and e-commerce may
not benefit our business, (viii) our Accounts Payable businesses may not grow as
expected,  and (ix) our international  expansion may prove  unprofitable.  Other
risks and uncertainties  that may affect our business include (i) our ability to
effectively  manage our  business  during our business  integration  with Howard
Schultz and Associates,  (ii) the possibility of an adverse  judgment in pending
securities litigation,  (iii) the impact of certain accounting pronouncements by
the Financial  Accounting  Standards  Board or the United States  Securities and
Exchange  Commission,  (iv)  potential  timing  issues that could delay  revenue
recognition,  (v) the effect of strikes,  (vi) future weakness in the currencies
of countries in which we transact  business,  (vii) changes in economic  cycles,

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(viii)   competition  from  other   companies,   (ix)  changes  in  governmental
regulations applicable to us, and other risk factors, detailed in our Securities
and Exchange  Commission  filings,  including  the  Company's  definitive  proxy
statement filed December 19, 2001. The Company  disclaims any obligation or duty
to update or modify these forward-looking statements.

SOURCE: Profit Recovery Group International, Inc.


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