Exhibit 99.1

PRG-SCHULTZ INTERNATIONAL, INC. AND SUBSIDIARIES

     On May 30, 2007, PRG-Schultz International, Inc. (the “Company”) sold its Meridian VAT business (“Meridian”) to Averio Holdings Limited, a Dublin, Ireland based company affiliated with management of Meridian (the “Purchaser”). The following unaudited pro forma condensed consolidated balance sheet as of March 31, 2007 is presented as if the sale transaction had been completed as of such date. The following unaudited pro forma condensed consolidated statements of operations for the year ended December 31, 2006 and the three month period ended March 31, 2007 are presented as if the sale transaction had been completed as of January 1, 2006. A nonrecurring gain on sale of approximately $20 million has not been included in the unaudited pro forma condensed consolidated statements of operations but is expected to be reflected in the Company’s Condensed Consolidated Statement of Operations to be included in the Company’s Form 10-Q for the quarter ending June 30, 2007.

     The unaudited pro forma condensed consolidated financial statements include specific assumptions and adjustments related to the sale of Meridian. The pro forma adjustments have been made to illustrate the estimated financial effect of the sale transaction as if the sale transaction had occurred on the dates set forth above. The adjustments are based upon available information and assumptions that the Company believes are reasonable as of the date of this Form 8-K filing. Assumptions underlying the pro forma adjustments are described in the notes accompanying the pro forma condensed consolidated financial information presented and should be read in conjunction with the Company’s historical financial statements and related notes contained in the Company’s quarterly report on Form 10-Q for the period ended March 31, 2007 and the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2006. In the opinion of management, the accompanying unaudited pro forma condensed consolidated balance sheet and statements of operation include all material adjustments necessary to reflect, on a pro forma basis, the impact of the sale transaction on the historical financial information of the Company.

     The unaudited pro forma condensed consolidated financial information has been presented for informational purposes only and is not indicative of any future results of operation or results that might have occurred if the sale transaction had actually been completed on the indicated dates.

PRG-SCHULTZ INTERNATIONAL, INC. AND SUBSIDIARIES

PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET
(Unaudited)
(In thousands)

	As of March 31, 2007
				Pro Forma
	Historical			Adjustments			Pro Forma
ASSETS
Current assets:
Cash and cash equivalents	$	21,359		$	17,760	(a)	$	39,119
Restricted cash		3,413			(3,339)	(b)		74
Receivables:
Contract receivables, less allowances
Billed		30,930			(1,629)	(b)		29,301
Unbilled		7,790						7,790
		38,720			(1,629	)		37,091
Employee advances and miscellaneous receivables, less allowances		769			1,856	(c)		2,625
Total receivables		39,489			227			39,716
Funds held for client obligations		42,104			(42,104)	(b)		—
Prepaid expenses and other current assets		2,488			(876)	(b)		1,612
Total current assets		108,853			(28,332	)		80,521
Property and equipment, at cost		66,211			(13,840)	(b)		52,371
Less accumulated depreciation and amortization		(56,737	)		12,393	(b)		(44,344	)
Property and equipment, net		9,474			(1,447	)		8,027
Goodwill		4,600						4,600
Intangible assets, less accumulated amortization		22,715						22,715
Unbilled receivables		1,557						1,557
Deferred income taxes		171						171
Other assets		9,806			(2,549)	(b)		7,257
	$	157,176		$	(32,328	)	$	124,848
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Obligations for client payables	$	42,104			(42,104)	(b)	$	—
Accounts payable and accrued expenses		19,082			(4,769)	(b)		14,313
Accrued payroll and related expenses		29,777			(2,924)	(b)		26,853
Refund liabilities		10,207						10,207
Deferred revenue		3,631			(2,888)	(b)		743
Current portions of debt obligations		1,434						1,434
Total current liabilities		106,235			(52,685	)		53,550
Senior notes, net of unamortized discount		44,117						44,117
Senior convertible notes, including unamortized premium		67,108						67,108
Other debt obligations		15,457						15,457
Noncurrent compensation obligations		7,426						7,426
Refund liabilities		1,772						1,772
Other long-term liabilities		5,602						5,602
Total liabilities		247,717			(52,685	)		195,032
Mandatorily redeemable participating preferred stock		8,916						8,916
Shareholders’ equity (deficit):
Common stock		93						93
Additional paid-in capital		517,612						517,612
Accumulated deficit Additional paid-in capital Common stock, no par value; $.001 stated value per share. Authorized 200,000,000 shares; issued 68,069,114x shares in 2005-6 and 67,658,65668,069,114 shares in 2005-4		(570,625	)		20,357	(d)		(550,268	)
Accumulated other comprehensive income Accumulated deficit Additional paid-in capital		2,173						2,173
Treasury stock, at cost Accumulated other comprehensive income Accumulated deficit		(48,710	)					(48,710	)
Total shareholders’ equity (deficit) Unearned amortized portion of restricted stock compensation expense Treasury stock at cost; 5,764,525 shares in 2006-5 and 2005-4		(99,457	)		20,357			(79,100	)
	$	157,176		$	(32,328	)	$	124,848

See accompanying Notes to Pro Forma Condensed Consolidated Financial Statements.

PRG-SCHULTZ INTERNATIONAL, INC. AND SUBSIDIARIES

PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
(In thousands, except per share data)

	Year Ended December 31, 2006
				Pro Forma
	Historical			Adjustments			Pro Forma
Revenues	$	266,095		$	(40,197	)(e)	$	225,898
Cost of revenues		193,747			(31,920	)(e)		161,827
Gross margin		72,348			(8,277	)		64,071
Selling, general and administrative expenses		60,199			(3,699	)(e)		56,500
Operational restructuring expense		4,130						4,130
Operating income		8,019			(4,578	)		3,441
Interest expense, net		16,219			92	(f)		16,311
Loss on financial restructuring		10,047						10,047
Loss from continuing operations before income taxes		(18,247	)		(4,670	)		(22,917	)
Income taxes		2,019			(854	)(g)		1,165
Loss from continuing operations	$	(20,266	)	$	(3,816	)	$	(24,082	)
Loss per common share from continuing operations:
Basic	$	(3.20	)				$	(3.78	)
Diluted	$	(3.20	)				$	(3.78	)
Weighted-average common shares outstanding:
Basic		6,616						6,616
Diluted		6,616						6,616

See accompanying Notes to Pro Forma Condensed Consolidated Financial Statements.

PRG-SCHULTZ INTERNATIONAL, INC. AND SUBSIDIARIES

PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
(In thousands, except per share data)

	Three Months Ended March 31, 2007
			Pro Forma
	Historical		Adjustments			Pro Forma
Revenues	$	66,908	$	(9,878	)(e)	$	57,030
Cost of revenues		45,464		(8,223	)(e)		37,241
Gross margin		21,444		(1,655	)		19,789
Selling, general and administrative expenses		14,740		(1,058	)(e)		13,682
Operating income		6,704		(597	)		6,107
Interest expense, net		4,115		26	(f)		4,141
Earnings from continuing operations before income taxes		2,589		(623	)		1,966
Income taxes		1,055		(524	)(g)		531
Earnings from continuing operations	$	1,534	$	(99	)	$	1,435
Earnings per common share from continuing operations:
Basic	$	0.16				$	0.15
Diluted	$	0.13				$	0.12
Weighted-average common shares outstanding:
Basic		8,373					8,373
Diluted		12,164					12,164

See accompanying Notes to Pro Forma Condensed Consolidated Financial Statements.

PRG-SCHULTZ INTERNATIONAL, INC. AND SUBSIDIARIES

NOTES TO PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)

(a)	Adjustment represents the cash proceeds received at closing net of professional fees and less Meridian’s cash and cash equivalents as of March 31, 2007.
(b)	Adjustment represents the removal of Meridian’s assets and liabilities included in the March 31, 2007 historical balance sheet.
(c)	Adjustment represents non-contingent payment due from Purchaser due December 2007 less professional fees. This adjustment excludes contingent payments due in December 2008 and 2009.
(d)	Adjustment represents approximate gain which would have been recognized had the transaction been completed on March 31, 2007.
(e)	Adjustment represents Meridian’s revenues and expenses for the period presented.
(f)	Adjustment represents Meridian’s interest income for the period presented.
(g)	Adjustment represents income tax expense recognized during the period presented attributable to Meridian’s operations.