content: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
           Date of Report (Date of earliest event reported) August 6, 2002
  
  
                                 Cross Country, Inc.
               (Exact name of registrant as specified in its charter)
  
  
   Delaware                           0-33169                        13-4066229
  (State or other                  (Commission                    (I.R.S. Employer
  jurisdiction of                   File Number                     Identification
  incorporation                                                               No.)
  
  
         6551 Park of Commerce Blvd., N.W., Suite 200, Boca Raton, FL 33487
                  (Address of Principal Executive Office (Zip Code)
  
  
                                   (561) 998-2232
                (Registrant's telephone number, including area code)
  
  
                                   Not Applicable
           (Former Name or Former Address, If Changed Since Last Report.)
  
  
  <PAGE>
  
  
  Item 5.  Other Events.
  
       Incorporated  by  reference  is a press  release  issued by the Company on
  August 6, 2002, which is attached hereto as Exhibit 1.1
  
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
  (c)   Exhibits.
  
  
  Exhibit        Description
  
  1.1            Press release issued by the Company on August 6, 2002
  
                                         2
  
  
  <PAGE>
  
  
                                     SIGNATURES
  
        Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
  
                                               CROSS COUNTRY, INC.
  
  
  
  
                                          By:    /s/ Emil Hensel
                                               ---------------------------------
                                               Name:  Emil Hensel
  Dated:  August 7, 2002                       Title: Chief Financial Officer
  
                                         3
  
  
  <PAGE>
  
  
  Exhibit 1.1
  
  Cross Country Reports 2nd Quarter Results;
  Revenues up 31%; Reaffirms 2002 EPS guidance
  
  
  BOCA RATON, Fla., August 6, 2002 /PRNewswire/ -- Cross Country, Inc. (Nasdaq:
  CCRN - news) today reported revenue of $156.0 million for the three month period
  ended June 30, 2002, an increase of 31% over revenue of $118.8 million for the
  same period in the prior year. Net income for the second quarter of 2002 was
  $8.0 million or $0.24 per diluted share. Net income before discontinued
  operations for the second quarter of 2002 was $8.5 million or $0.25 per diluted
  share. Earnings before interest, taxes, depreciation, amortization and
  non-recurring secondary offering costs (EBITDA), a key measure used by
  management to evaluate the company's operations, for the three month period
  ended June 30, 2002 was $16.3 million, an increase of 23% over the same period
  in the prior year. The quarter was favorably impacted primarily by the strong
  results generated by the Company's travel nurse staffing businesses and all of
  the businesses comprising its Other Human Capital Management Services segment,
  coupled with lower corporate expenses, specifically interest and amortization
  expenses.
  
  "We are very pleased with the continued strength of our businesses as
  demonstrated by our second quarter 2002 results," said Joseph A. Boshart,
  President and Chief Executive Officer. "Demand for our core travel nursing
  business continues to benefit from a desire on the part of our hospital clients
  to outsource a portion of their labor needs to better meet fluctuating patient
  census and the national nursing shortage. We also had strong performances from
  each of our Other Human Capital Management Services businesses."
  
  For the six month period ended June 30, 2002, Cross Country reported revenue of
  $310.8 million, an increase of 40% over the same period in the prior year. Net
  income and its associated diluted EPS for the six month period ended June 30,
  2002 were $15.0 million and $0.44 compared to $2.7 million and $0.12,
  respectively, for the six month period June 30, 2001. EBITDA for the six month
  period ended June 30, 2002 was $31.9 million compared to $23.7 million for the
  same period in the prior year, an increase of 35%.
  
  Healthcare Staffing
  Cross Country's Healthcare Staffing segment, which comprises travel staffing,
  clinical research trials staffing and per diem staffing, generated revenue for
  the three month period ended June 30, 2002 of $142.8 million, an increase of 30%
  over the same period in the prior year. This growth was driven primarily by
  increased average hourly bill rates in all businesses, increased numbers of
  field employees in both the travel nursing and allied health staffing as well as
  incremental revenue generated by the January 2002 acquisition of NovaPro.
  Contribution income, defined as earnings before interest, taxes, depreciation,
  amortization and corporate expenses not specifically identified to a reporting
  segment, for the three month period ended June 30, 2002 was $19.6 million, an
  increase of 21% over the same period in the prior year. This growth was
  primarily due to the same factors that drove revenue growth, but partially
  offset by an increase in field staff compensation and selling expenses as well
  as the increased expenses associated with recruiting nurses overseas.
  
  
                                         4
  
  <PAGE>
  
  
  For the six month period ended June 30, 2002 revenue was $286.4 million, an
  increase of 39% over the same period in the prior year and contribution income
  was $39.5 million compared to $30.1 million for the six month period ended June
  30, 2001.
  
  Other Human Capital Management Services
  Cross Country's Other Human Capital Management Services segment, which comprises
  the education and training, healthcare consulting services, physician search and
  resource management services, generated revenue of $13.2 million for the three
  month period ended June 30, 2002, an increase of 41% over the same period in the
  prior year. This increase was driven primarily by the strong double-digit
  results in all businesses within the segment, which includes consulting business
  generated by the Jennings Ryan & Kolb, Inc. acquisition in March 2002.
  Contribution income for the three month period ended June 30, 2002 was $2.1
  million, a 54% increase versus the year ago period.
  
  For the six month period ended June 30, 2002, revenue was $24.4 million, an
  increase of 44% over the same period in the prior year and contribution income
  was $3.7 million compared to $2.8 million for the six month period ended June
  30, 2001.
  
  Expectations for 2002
  The following statements are based on current management expectations. These
  statements are forward-looking, and actual results may differ materially. With
  respect to Cross Country's financial targets for the full year 2002, the Company
  is maintaining its previous guidance of revenue to be between $625 and $650
  million and EPS to be in the range of $1.02 - $1.06 per diluted share. Third
  quarter and fourth quarter 2002 earnings before discontinued operations are
  expected to be in the range of $0.26 - $0.27 and $0.28 - $0.31 per diluted
  share, respectively. These EPS targets exclude discontinued operations and
  expenses associated with the Company's secondary offering. It is Cross Country's
  intention to update its guidance quarterly.
  
  Cross Country, Inc. is a leading provider of healthcare staffing services in the
  United States. The company has an active client base of over 3,000 hospitals,
  pharmaceutical companies and other healthcare providers across all 50 states
  More information on Cross Country, Inc. can be obtained from our website,
  www.crosscountry.com.
  
  A listen-only simulcast of Cross Country's first quarter conference call will be
  available online beginning at 10:00 a.m. EST on Wednesday, August 7th at
  www.crosscountry.com, www.companyboardroom.com or by visiting any of the
  investor sites in CCBN's Individual Investor Network such as America Online's
  Personal Finance Channel, Fidelity Investments(R) (Fidelity.com) and others.
  Institutional investors can access the call via CCBN's password-protected event
  management site, StreetEvents (www.streetevents.com). A playback recording of
  the call may be accessed by calling 1-800-405-2236, passcode 483099#, beginning
  at 12:00 p.m. on August 7th until 11:59 p.m. on Monday, August 12th.
  
  This release contains forward-looking statements. Statements that are predictive
  in nature, that depend upon or refer to future events or conditions or that
  include words such as "expects," "anticipates," "intends," "plans," "believes,"
  "estimates," and similar expressions are forward-looking statements. These
  statements involve known and unknown risks, uncertainties and other factors that
  may cause our actual results and performance to be materially different from any
  future results or performance expressed or implied by these forward-looking
  statements. These factors include the following our ability to attract and
  retain qualified nurses and other healthcare personnel, costs and availability
  of short-term leases for our travel nurses, demand for the healthcare services
  we provide, both nationally
  
                                         5
  
  
  <PAGE>
  
  and in the regions in which we operate, the functioning of our information
  systems, the effect of existing or future government regulation and federal and
  state legislative and enforcement initiatives on our business, our clients'
  ability to pay us for our services, our ability to successfully implement our
  acquisition and development strategies, the effect of liabilities and other
  claims asserted against us, the effect of competition in the markets we serve,
  and other factors set forth under the caption "RISK FACTORS" in the Company's
  10-K for the year ended December 31, 2001.
  
  Although we believe that these statements are based upon reasonable assumptions,
  we cannot guarantee future results. Given these uncertainties, the
  forward-looking statements discussed on this press release might not occur.
  While it is the Company's intention to update its guidance quarterly, it should
  not be assumed that our silence over time means that actual events are occurring
  as expressed or implied in such forward-looking statements.
  
  
  For further information, please contact:
  Susan Eccher, Director, Investor Relations at 877-686-9779
  Brian Hekman, Director, Corporate Communications at 800-998-5187
  
  
                                         6
  
  
                                Cross Country, Inc.
                       Consolidated Statements of Operations
                   (amounts in thousands, except per share data)
                                    (Unaudited)
  
  <TABLE>
  <CAPTION>
  
                                                                Three Months Ended                      Six Months Ended
                                                                     June 30,                               June 30,
            `                                               -------------------------              -------------------------
                                                               2002           2001     % Change       2002           2001    % Change
                                                            ----------     ----------   ---------  -----------    ----------  -------
  <S>                                                       <C>            <C>             <C>     <C>            <C>           <C>
  
  Revenue from services                                     $  155,977     $  118,835      31%     $  310,838     $  222,707     40%
  Operating expenses:
   Direct operating expenses                                   115,849         88,097      32%        233,005        167,099     39%
   Selling, general and administrative expenses                 23,775         17,083      39%         45,541         31,076     47%
   Bad debt expense                                                 74            442     (83%)           359            862    (58%)
   Depreciation                                                    740            631      17%          1,435          1,136     26%
   Amortization                                                    785          3,856     (80%)         1,555          7,402    (79%)
   Non-recurring secondary offering costs                            -              -       0%          1,008              -      0%
                                                            ----------     ----------              -----------    ----------
  Total operating expenses                                     141,223        110,109      28%        282,903        207,575     36%
                                                            ----------     ----------              -----------    ----------
  Income from operations                                        14,754          8,726      69%         27,935         15,132     85%
  Other expenses:
   Interest expense, net                                         1,009          4,524     (78%)         2,156          8,532    (75%)
                                                            ----------     ----------             -----------    ----------
  Income before income taxes and discontinued operations        13,745          4,202     227%         25,779          6,600    291%
  Income tax expense                                            (5,292)        (1,869)    183%        (10,091)        (3,050)   231%
                                                            ----------     ----------             -----------    ----------
  Income before discontinued operations                          8,453          2,333     262%         15,688          3,550    342%
  Discontinued operations                                         (421)           332    (227%)          (659)          (876)   (25%)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $    8,032     $    2,665     201%     $   15,029     $    2,674    462%
                                                            ==========     ==========              ===========    ==========
  
  Net income/(loss) per common share- basic:
   Income before discontinued operations                    $     0.26     $     0.10              $     0.49     $     0.16
   Discontinued operations                                  $    (0.01)    $     0.01              $    (0.02)    $    (0.04)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $     0.25     $     0.11              $     0.47     $     0.12
                                                            ==========     ==========              ===========    ==========
  
  Net income/(Loss) per common share- diluted:
   Income before discontinued operations                    $     0.25     $     0.10              $     0.46     $     0.16
   Discontinued operations                                  $    (0.01)    $     0.01              $    (0.02)    $    (0.04)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $     0.24     $     0.11              $     0.44     $     0.12
                                                            ==========     ==========              ===========    ==========
  
  Weighted average common shares outstanding - basic           32,400         23,206                  32,316         23,206
  Weighted average common shares outstanding - diluted          34,000         23,206                  33,998         23,206
  
  </TABLE>
  
  
  <PAGE>
  
  
                                Cross Country, Inc.
                       Consolidated Condensed Balance Sheets
                               (amounts in thousands)
  
  
                                                      June 30,      December 31,
                                                        2002            2001
                                                    ------------    ------------
                                                     (Unaudited)
  Current assets:
   Cash                                             $    17,359     $     2,736
   Accounts receivable, net                              93,008          87,415
   Assets from discontinued operations, net               4,881           3,948
   Other current assets                                  12,477          14,996
                                                    ------------    ------------
  Total current assets                                  127,725         109,095
  Property and equipment, net                            10,534           8,037
  Goodwill, net                                         226,018         218,749
  Trademark, net                                         15,749          15,399
  Other identifiable intangible assets, net               8,467           9,308
  Other assets                                            1,363           1,392
                                                    ------------    ------------
  Total assets                                      $   389,856     $   361,980
                                                    ============    ============
  
  Current liabilities:
   Accounts payable and accrued expenses            $     3,506     $     3,172
   Accrued employee compensation and benefits            31,408          26,930
   Current portion of long-term debt                      9,608           2,425
   Note payable                                             273           1,365
   Income taxes payable                                   5,416               -
   Liabilities from discontinued operations                 174             174
   Other current liabilities                              2,668           1,832
                                                    ------------    ------------
  Total current liabilities                              53,053          35,898
  Interest rate swap                                      1,505           2,509
  Deferred income taxes                                   8,962           8,570
  Long-term debt                                         35,620          45,076
                                                    ------------    ------------
  Total liabilities                                      99,140          92,053
  Commitments and contingencies
  Stockholders' equity:
   Common stock                                               3               3
   Additional paid-in capital                           263,282         258,152
   Other stockholders' equity                            27,431          11,772
                                                    ------------    ------------
  Total stockholders' equity                            290,716         269,927
                                                    ------------    ------------
  Total liabilities and stockholders' equity        $   389,856     $   361,980
                                                    ============    ============
  
  
  <PAGE>
  
  
                                   Segment Data*
                               (amounts in thousands)
                                    (Unaudited)
  
  
  <TABLE>
  <CAPTION>
  
                                                                Three Months Ended                      Six Months Ended
                                                                     June 30,                               June 30,
                                                            -------------------------              -------------------------
                                                               2002           2001     % Change       2002           2001    % Change
                                                            ----------     ----------   ---------  -----------    ----------  -------
  <S>                                                       <C>            <C>             <C>     <C>            <C>           <C>
  
  Revenues:
  
   Healthcare staffing                                      $  142,767     $  109,484      30%     $  286,401     $  205,753     39%
   Other human capital management services                      13,210          9,351      41%         24,437         16,954     44%
                                                            ----------     ----------              -----------    ----------
                                                            $  155,977     $  118,835      31%     $  310,838     $  222,707     40%
                                                            ==========     ==========              ===========    ==========
  
  
  Contribution income (a):
   Healthcare staffing                                      $   19,586     $   16,161      21      $   39,489     $   30,083     31%
   Other human capital management services                       2,149          1,394      54%          3,683          2,786     32%
  Unallocated corporate overhead                                (5,456)        (4,342)     26%        (11,239)        (9,199)    22%
                                                            ----------     ----------              -----------    ----------
  EBITDA(b)                                                 $   16,279     $   13,213      23%     $   31,933     $   23,670     35%
                                                            ==========     ==========              ===========    ==========
  
  </TABLE>
  
  * Certain  amounts in the 2001 segment  information  have been  reclassified  to
  conform to the 2002 presentation.
  
  
                                Financial Statistics
                                    (Unaudited)
  
  <TABLE>
  <CAPTION>
  
                                                                Three Months Ended            Six Months Ended
                                                                     June 30,                     June 30,
                                                            -------------------------    -------------------------
                                                               2002           2001          2002           2001
                                                            ----------     ----------    -----------    ----------
  <S>                                                       <C>            <C>           <C>            <C>
  
  EBITDA - ($000)(b)                                        $   16,279     $   13,213    $   31,933     $   23,670
  EBITDA as % of revenue                                         10.4%          11.1%         10.3%          10.6%
  FTE's(c)                                                       5,475          4,657         5,579          4,509
  Weeks worked(d)                                               71,175         60,541       145,054        117,234
  Average healthcare staffing revenue per FTE per week(e)   $    2,006     $    1,808    $    1,974     $    1,755
  
  </TABLE>
  
  (a) Defined as earnings before interest, taxes,  depreciation,  amortization and
  corporate expenses not specifically identified to a reporting segment.
  
  (b) Defined as income before interest, income taxes, depreciation,  amortization
  and non-recurring  secondary  offering costs.  EBITDA should not be considered a
  measure of financial performance under generally accepted accounting principles.
  Items  excluded  from EBITDA are  significant  components in  understanding  and
  assessing financial  performance.  EBITDA is a key measure used by management to
  evaluate our  operations and provide  useful  information  to investors.  EBITDA
  should not be considered in isolation or as an alternative  to net income,  cash
  flows  generated by  operations,  investing or  financing  activities,  or other
  financial statement data presented in the consolidated  financial  statements as
  indicators  of  financial  performance  or  liquidity.  Because  EBITDA is not a
  measurement   determined  in  accordance  with  generally  accepted   accounting
  principles and is thus susceptible to varying calculations,  EBITDA as presented
  may not be comparable to other similarly titled measures of other companies.
  
  (c) FTE's  represent  the average  number of contract  staffing  personnel  on a
  full-time equivalent basis.
  (d) Weeks worked is calculated by  multiplying  the FTE's by the number of weeks
  during the respective period.
  (e)  Average  healthcare  staffing  revenue  per FTE per week is  calculated  by
  dividing the  healthcare  staffing  revenue by the number of weeks worked in the
  respective periods.  Healthcare staffing revenue includes revenue from permanent
  placement nurses.
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text: SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549
  
                                      FORM 8-K
  
                                   CURRENT REPORT
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  
           Date of Report (Date of earliest event reported) August 6, 2002
  
                                 Cross Country, Inc.
               (Exact name of registrant as specified in its charter)
  
   Delaware                           0-33169                        13-4066229
  (State or other                  (Commission                    (I.R.S. Employer
  jurisdiction of                   File Number                     Identification
  incorporation                                                               No.)
  
         6551 Park of Commerce Blvd., N.W., Suite 200, Boca Raton, FL 33487
                  (Address of Principal Executive Office (Zip Code)
  
                                   (561) 998-2232
                (Registrant's telephone number, including area code)
  
                                   Not Applicable
           (Former Name or Former Address, If Changed Since Last Report.)
  Item 5.  Other Events.
  
       Incorporated  by  reference  is a press  release  issued by the Company on
  August 6, 2002, which is attached hereto as Exhibit 1.1
  
  Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits.
  
  (c)   Exhibits.
  
  Exhibit        Description
  
  1.1            Press release issued by the Company on August 6, 2002
  
                                         2
  SIGNATURES
  
        Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
  Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
  undersigned hereunto duly authorized.
  
                                               CROSS COUNTRY, INC.
  
                                          By:    /s/ Emil Hensel
                                               ---------------------------------
                                               Name:  Emil Hensel
  Dated:  August 7, 2002                       Title: Chief Financial Officer
  
                                         3
  Exhibit 1.1
  
  Cross Country Reports 2nd Quarter Results;
  Revenues up 31%; Reaffirms 2002 EPS guidance
  
  BOCA RATON, Fla., August 6, 2002 /PRNewswire/ -- Cross Country, Inc. (Nasdaq:
  CCRN - news) today reported revenue of $156.0 million for the three month period
  ended June 30, 2002, an increase of 31% over revenue of $118.8 million for the
  same period in the prior year. Net income for the second quarter of 2002 was
  $8.0 million or $0.24 per diluted share. Net income before discontinued
  operations for the second quarter of 2002 was $8.5 million or $0.25 per diluted
  share. Earnings before interest, taxes, depreciation, amortization and
  non-recurring secondary offering costs (EBITDA), a key measure used by
  management to evaluate the company's operations, for the three month period
  ended June 30, 2002 was $16.3 million, an increase of 23% over the same period
  in the prior year. The quarter was favorably impacted primarily by the strong
  results generated by the Company's travel nurse staffing businesses and all of
  the businesses comprising its Other Human Capital Management Services segment,
  coupled with lower corporate expenses, specifically interest and amortization
  expenses.
  
  "We are very pleased with the continued strength of our businesses as
  demonstrated by our second quarter 2002 results," said Joseph A. Boshart,
  President and Chief Executive Officer. "Demand for our core travel nursing
  business continues to benefit from a desire on the part of our hospital clients
  to outsource a portion of their labor needs to better meet fluctuating patient
  census and the national nursing shortage. We also had strong performances from
  each of our Other Human Capital Management Services businesses."
  
  For the six month period ended June 30, 2002, Cross Country reported revenue of
  $310.8 million, an increase of 40% over the same period in the prior year. Net
  income and its associated diluted EPS for the six month period ended June 30,
  2002 were $15.0 million and $0.44 compared to $2.7 million and $0.12,
  respectively, for the six month period June 30, 2001. EBITDA for the six month
  period ended June 30, 2002 was $31.9 million compared to $23.7 million for the
  same period in the prior year, an increase of 35%.
  
  Healthcare Staffing
  Cross Country's Healthcare Staffing segment, which comprises travel staffing,
  clinical research trials staffing and per diem staffing, generated revenue for
  the three month period ended June 30, 2002 of $142.8 million, an increase of 30%
  over the same period in the prior year. This growth was driven primarily by
  increased average hourly bill rates in all businesses, increased numbers of
  field employees in both the travel nursing and allied health staffing as well as
  incremental revenue generated by the January 2002 acquisition of NovaPro.
  Contribution income, defined as earnings before interest, taxes, depreciation,
  amortization and corporate expenses not specifically identified to a reporting
  segment, for the three month period ended June 30, 2002 was $19.6 million, an
  increase of 21% over the same period in the prior year. This growth was
  primarily due to the same factors that drove revenue growth, but partially
  offset by an increase in field staff compensation and selling expenses as well
  as the increased expenses associated with recruiting nurses overseas.
  
                                         4
  For the six month period ended June 30, 2002 revenue was $286.4 million, an
  increase of 39% over the same period in the prior year and contribution income
  was $39.5 million compared to $30.1 million for the six month period ended June
  30, 2001.
  
  Other Human Capital Management Services
  Cross Country's Other Human Capital Management Services segment, which comprises
  the education and training, healthcare consulting services, physician search and
  resource management services, generated revenue of $13.2 million for the three
  month period ended June 30, 2002, an increase of 41% over the same period in the
  prior year. This increase was driven primarily by the strong double-digit
  results in all businesses within the segment, which includes consulting business
  generated by the Jennings Ryan & Kolb, Inc. acquisition in March 2002.
  Contribution income for the three month period ended June 30, 2002 was $2.1
  million, a 54% increase versus the year ago period.
  
  For the six month period ended June 30, 2002, revenue was $24.4 million, an
  increase of 44% over the same period in the prior year and contribution income
  was $3.7 million compared to $2.8 million for the six month period ended June
  30, 2001.
  
  Expectations for 2002
  The following statements are based on current management expectations. These
  statements are forward-looking, and actual results may differ materially. With
  respect to Cross Country's financial targets for the full year 2002, the Company
  is maintaining its previous guidance of revenue to be between $625 and $650
  million and EPS to be in the range of $1.02 - $1.06 per diluted share. Third
  quarter and fourth quarter 2002 earnings before discontinued operations are
  expected to be in the range of $0.26 - $0.27 and $0.28 - $0.31 per diluted
  share, respectively. These EPS targets exclude discontinued operations and
  expenses associated with the Company's secondary offering. It is Cross Country's
  intention to update its guidance quarterly.
  
  Cross Country, Inc. is a leading provider of healthcare staffing services in the
  United States. The company has an active client base of over 3,000 hospitals,
  pharmaceutical companies and other healthcare providers across all 50 states
  More information on Cross Country, Inc. can be obtained from our website,
  www.crosscountry.com.
  
  A listen-only simulcast of Cross Country's first quarter conference call will be
  available online beginning at 10:00 a.m. EST on Wednesday, August 7th at
  www.crosscountry.com, www.companyboardroom.com or by visiting any of the
  investor sites in CCBN's Individual Investor Network such as America Online's
  Personal Finance Channel, Fidelity Investments(R) (Fidelity.com) and others.
  Institutional investors can access the call via CCBN's password-protected event
  management site, StreetEvents (www.streetevents.com). A playback recording of
  the call may be accessed by calling 1-800-405-2236, passcode 483099#, beginning
  at 12:00 p.m. on August 7th until 11:59 p.m. on Monday, August 12th.
  
  This release contains forward-looking statements. Statements that are predictive
  in nature, that depend upon or refer to future events or conditions or that
  include words such as "expects," "anticipates," "intends," "plans," "believes,"
  "estimates," and similar expressions are forward-looking statements. These
  statements involve known and unknown risks, uncertainties and other factors that
  may cause our actual results and performance to be materially different from any
  future results or performance expressed or implied by these forward-looking
  statements. These factors include the following our ability to attract and
  retain qualified nurses and other healthcare personnel, costs and availability
  of short-term leases for our travel nurses, demand for the healthcare services
  we provide, both nationally
  
                                         5
  and in the regions in which we operate, the functioning of our information
  systems, the effect of existing or future government regulation and federal and
  state legislative and enforcement initiatives on our business, our clients'
  ability to pay us for our services, our ability to successfully implement our
  acquisition and development strategies, the effect of liabilities and other
  claims asserted against us, the effect of competition in the markets we serve,
  and other factors set forth under the caption "RISK FACTORS" in the Company's
  10-K for the year ended December 31, 2001.
  
  Although we believe that these statements are based upon reasonable assumptions,
  we cannot guarantee future results. Given these uncertainties, the
  forward-looking statements discussed on this press release might not occur.
  While it is the Company's intention to update its guidance quarterly, it should
  not be assumed that our silence over time means that actual events are occurring
  as expressed or implied in such forward-looking statements.
  
  For further information, please contact:
  Susan Eccher, Director, Investor Relations at 877-686-9779
  Brian Hekman, Director, Corporate Communications at 800-998-5187
  
                                         6
  
                                Cross Country, Inc.
                       Consolidated Statements of Operations
                   (amounts in thousands, except per share data)
                                    (Unaudited)
  Three Months Ended                      Six Months Ended
                                                                     June 30,                               June 30,
            `                                               -------------------------              -------------------------
                                                               2002           2001     % Change       2002           2001    % Change
                                                            ----------     ----------   ---------  -----------    ----------  -------
  Revenue from services                                     $  155,977     $  118,835      31%     $  310,838     $  222,707     40%
  Operating expenses:
   Direct operating expenses                                   115,849         88,097      32%        233,005        167,099     39%
   Selling, general and administrative expenses                 23,775         17,083      39%         45,541         31,076     47%
   Bad debt expense                                                 74            442     (83%)           359            862    (58%)
   Depreciation                                                    740            631      17%          1,435          1,136     26%
   Amortization                                                    785          3,856     (80%)         1,555          7,402    (79%)
   Non-recurring secondary offering costs                            -              -       0%          1,008              -      0%
                                                            ----------     ----------              -----------    ----------
  Total operating expenses                                     141,223        110,109      28%        282,903        207,575     36%
                                                            ----------     ----------              -----------    ----------
  Income from operations                                        14,754          8,726      69%         27,935         15,132     85%
  Other expenses:
   Interest expense, net                                         1,009          4,524     (78%)         2,156          8,532    (75%)
                                                            ----------     ----------             -----------    ----------
  Income before income taxes and discontinued operations        13,745          4,202     227%         25,779          6,600    291%
  Income tax expense                                            (5,292)        (1,869)    183%        (10,091)        (3,050)   231%
                                                            ----------     ----------             -----------    ----------
  Income before discontinued operations                          8,453          2,333     262%         15,688          3,550    342%
  Discontinued operations                                         (421)           332    (227%)          (659)          (876)   (25%)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $    8,032     $    2,665     201%     $   15,029     $    2,674    462%
                                                            ==========     ==========              ===========    ==========
  
  Net income/(loss) per common share- basic:
   Income before discontinued operations                    $     0.26     $     0.10              $     0.49     $     0.16
   Discontinued operations                                  $    (0.01)    $     0.01              $    (0.02)    $    (0.04)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $     0.25     $     0.11              $     0.47     $     0.12
                                                            ==========     ==========              ===========    ==========
  
  Net income/(Loss) per common share- diluted:
   Income before discontinued operations                    $     0.25     $     0.10              $     0.46     $     0.16
   Discontinued operations                                  $    (0.01)    $     0.01              $    (0.02)    $    (0.04)
                                                            ----------     ----------              -----------    ----------
  Net income                                                $     0.24     $     0.11              $     0.44     $     0.12
                                                            ==========     ==========              ===========    ==========
  
  Weighted average common shares outstanding - basic           32,400         23,206                  32,316         23,206
  Weighted average common shares outstanding - diluted          34,000         23,206                  33,998         23,206
  Cross Country, Inc.
                       Consolidated Condensed Balance Sheets
                               (amounts in thousands)
  
                                                      June 30,      December 31,
                                                        2002            2001
                                                    ------------    ------------
                                                     (Unaudited)
  Current assets:
   Cash                                             $    17,359     $     2,736
   Accounts receivable, net                              93,008          87,415
   Assets from discontinued operations, net               4,881           3,948
   Other current assets                                  12,477          14,996
                                                    ------------    ------------
  Total current assets                                  127,725         109,095
  Property and equipment, net                            10,534           8,037
  Goodwill, net                                         226,018         218,749
  Trademark, net                                         15,749          15,399
  Other identifiable intangible assets, net               8,467           9,308
  Other assets                                            1,363           1,392
                                                    ------------    ------------
  Total assets                                      $   389,856     $   361,980
                                                    ============    ============
  
  Current liabilities:
   Accounts payable and accrued expenses            $     3,506     $     3,172
   Accrued employee compensation and benefits            31,408          26,930
   Current portion of long-term debt                      9,608           2,425
   Note payable                                             273           1,365
   Income taxes payable                                   5,416               -
   Liabilities from discontinued operations                 174             174
   Other current liabilities                              2,668           1,832
                                                    ------------    ------------
  Total current liabilities                              53,053          35,898
  Interest rate swap                                      1,505           2,509
  Deferred income taxes                                   8,962           8,570
  Long-term debt                                         35,620          45,076
                                                    ------------    ------------
  Total liabilities                                      99,140          92,053
  Commitments and contingencies
  Stockholders' equity:
   Common stock                                               3               3
   Additional paid-in capital                           263,282         258,152
   Other stockholders' equity                            27,431          11,772
                                                    ------------    ------------
  Total stockholders' equity                            290,716         269,927
                                                    ------------    ------------
  Total liabilities and stockholders' equity        $   389,856     $   361,980
                                                    ============    ============
  Segment Data*
                               (amounts in thousands)
                                    (Unaudited)
  Three Months Ended                      Six Months Ended
                                                                     June 30,                               June 30,
                                                            -------------------------              -------------------------
                                                               2002           2001     % Change       2002           2001    % Change
                                                            ----------     ----------   ---------  -----------    ----------  -------
  Revenues:
  
   Healthcare staffing                                      $  142,767     $  109,484      30%     $  286,401     $  205,753     39%
   Other human capital management services                      13,210          9,351      41%         24,437         16,954     44%
                                                            ----------     ----------              -----------    ----------
                                                            $  155,977     $  118,835      31%     $  310,838     $  222,707     40%
                                                            ==========     ==========              ===========    ==========
  
  Contribution income (a):
   Healthcare staffing                                      $   19,586     $   16,161      21      $   39,489     $   30,083     31%
   Other human capital management services                       2,149          1,394      54%          3,683          2,786     32%
  Unallocated corporate overhead                                (5,456)        (4,342)     26%        (11,239)        (9,199)    22%
                                                            ----------     ----------              -----------    ----------
  EBITDA(b)                                                 $   16,279     $   13,213      23%     $   31,933     $   23,670     35%
                                                            ==========     ==========              ===========    ==========
  * Certain  amounts in the 2001 segment  information  have been  reclassified  to
  conform to the 2002 presentation.
  
                                Financial Statistics
                                    (Unaudited)
  Three Months Ended            Six Months Ended
                                                                     June 30,                     June 30,
                                                            -------------------------    -------------------------
                                                               2002           2001          2002           2001
                                                            ----------     ----------    -----------    ----------
  EBITDA - ($000)(b)                                        $   16,279     $   13,213    $   31,933     $   23,670
  EBITDA as % of revenue                                         10.4%          11.1%         10.3%          10.6%
  FTE's(c)                                                       5,475          4,657         5,579          4,509
  Weeks worked(d)                                               71,175         60,541       145,054        117,234
  Average healthcare staffing revenue per FTE per week(e)   $    2,006     $    1,808    $    1,974     $    1,755
  (a) Defined as earnings before interest, taxes,  depreciation,  amortization and
  corporate expenses not specifically identified to a reporting segment.
  
  (b) Defined as income before interest, income taxes, depreciation,  amortization
  and non-recurring  secondary  offering costs.  EBITDA should not be considered a
  measure of financial performance under generally accepted accounting principles.
  Items  excluded  from EBITDA are  significant  components in  understanding  and
  assessing financial  performance.  EBITDA is a key measure used by management to
  evaluate our  operations and provide  useful  information  to investors.  EBITDA
  should not be considered in isolation or as an alternative  to net income,  cash
  flows  generated by  operations,  investing or  financing  activities,  or other
  financial statement data presented in the consolidated  financial  statements as
  indicators  of  financial  performance  or  liquidity.  Because  EBITDA is not a
  measurement   determined  in  accordance  with  generally  accepted   accounting
  principles and is thus susceptible to varying calculations,  EBITDA as presented
  may not be comparable to other similarly titled measures of other companies.
  
  (c) FTE's  represent  the average  number of contract  staffing  personnel  on a
  full-time equivalent basis.
  (d) Weeks worked is calculated by  multiplying  the FTE's by the number of weeks
  during the respective period.
  (e)  Average  healthcare  staffing  revenue  per FTE per week is  calculated  by
  dividing the  healthcare  staffing  revenue by the number of weeks worked in the
  respective periods.  Healthcare staffing revenue includes revenue from permanent
  placement nurses.