Exhibit 99.1

Press Release

PRGX Global, Inc. Announces Second Quarter

2012 Financial Results

Operating Highlights

ATLANTA, July 23, 2012 – PRGX Global, Inc. (Nasdaq:PRGX), the world’s leading provider of recovery audit services and the pioneer in Profit Discovery™, today announced its unaudited financial results for the second quarter ended June 30, 2012.

“I am pleased to report that we continue to improve our revenue and Adjusted EBITDA performance as the execution of our growth strategy across all three areas of our business gains momentum,” said Romil Bahl, president and chief executive officer.

“Each of our service segments played a part in delivering on our growth promise. The Recovery Audit – Americas business is starting to reap the benefits of big client wins last year and key renewals to drive the top-line, while driving out costs to further improve margins. The Recovery Audit – Europe/Asia Pacific team continues to transform our Service Delivery Model enabling Adjusted EBITDA improvement in a challenging top-line environment. Our Healthcare Claims Recovery Audit business again delivered revenue over plan. And our Analytics & Advisory Profit Optimization services team continues to rebound, with Q2 2012 revenues up 62% from Q4 2011 and 36% from Q1 2012,” concluded Bahl.

Consolidated Results for Three Months Ended June 30, 2012

Consolidated revenues for the second quarter of 2012 increased 1.9% to $51.7 million compared to $50.7 million in the same prior year period. After adjusting for changes in foreign exchange rates, consolidated revenues for the second quarter of 2012 increased 5.4% compared to the same period in 2011.

Recovery Audit Services – Americas revenues for the second quarter of 2012 increased 6.1% to $29.6 million compared to $27.9 million in the same period in the prior year. On a constant dollar basis, adjusted for changes in foreign exchange rates, Recovery Audit Services – Americas revenues for the second quarter increased by 8.8% compared to the same period in 2011.

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Recovery Audit Services – Europe Asia/Pacific revenues for the second quarter of 2012 decreased 14.9% to $13.4 million compared to $15.8 million in the same period in the prior year. On a constant dollar basis, adjusted for changes in foreign exchange rates, Recovery Audit Services – Europe Asia/Pacific revenues for the second quarter decreased by 8.4% compared to the same period in 2011.

New Services revenues for the second quarter of 2012 increased 22.8% to $8.7 million compared to $7.1 million in the same period in the prior year. The New Services segment represents Healthcare Claims Recovery Audit services and our Profit Optimization services.

Total cost of revenues for the second quarter of 2012 were $33.3 million, or 64.5% of revenue, compared to $34.5 million, or 68.1% of revenue, in the same period in the prior year. Margins improved in all three of the Company’s reporting segments. SG&A for the second quarter of 2012 was $12.7 million, or 24.6% of revenue, compared to $12.3 million, or 24.3% of revenue in the second quarter of 2011. Depreciation and amortization expenses were $3.0 million in the second quarter of 2012 compared to $2.3 million in the prior year second quarter.

Net earnings for the second quarter of 2012 were $1.0 million, or $0.04 per basic and diluted share, compared to net earnings of $0.7 million, or $0.03 per basic and diluted share, for the same period in 2011. Second quarter 2012 net earnings included foreign exchange losses on intercompany balances of $0.5 million compared to gains of $0.4 million, for the same period last year. Exclusive of such gains and losses, second quarter 2012 earnings exceeded prior year second quarter earnings by $1.2 million, or $0.05 per share.

Adjusted EBITDA for the second quarter of 2012 was $7.6 million compared to $5.6 million of Adjusted EBITDA for the same period in 2011. The 2012 second quarter Adjusted EBITDA was earnings before interest, taxes, depreciation and amortization (EBITDA) excluding a charge of $1.2 million related to stock-based compensation, $0.3 million of transformation severance and related expenses, a $0.1 million charge for acquisition obligations classified as compensation, $0.3 million in costs relating to an overtime pay claim, and $0.5 million of foreign currency losses on intercompany balances. The comparable Adjusted EBITDA amount for the second quarter of 2011 excludes from EBITDA for such period a $1.3 million charge for stock-based compensation, $0.3 million of transformation severance and related expenses, a $0.1 million charge for acquisition obligations classified as compensation and $0.4 million of foreign currency gains on intercompany balances. Schedule 3 attached to this press release provides a reconciliation of net earnings to each of EBIT (earnings before interest and taxes), EBITDA and Adjusted EBITDA.

Consolidated Results for Six Months Ended June 30, 2012

Consolidated revenues for the six months ended June 30, 2012 increased 1.9% to $103.3 million compared to $101.4 million in the same prior year period. After adjusting for changes in foreign exchange rates, consolidated revenues for the six months ended June 30, 2012 increased 4.2% compared to the same period in 2011.

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Recovery Audit Services – Americas revenues for the six months ended June 30, 2012 increased 2.4% to $58.4 million compared to $57.0 million in the same period in the prior year. On a constant dollar basis, adjusted for changes in foreign exchange rates, Recovery Audit Services – Americas revenues for the six month period increased by 4.2% compared to the same period in 2011.

Recovery Audit Services – Europe Asia/Pacific revenues for the six months ended June 30, 2012 decreased 9.1% to $27.7 million compared to $30.5 million in the same period in the prior year. On a constant dollar basis, adjusted for changes in foreign exchange rates, Recovery Audit Services – Europe Asia/Pacific revenues for the six month period decreased by 4.8% compared to the same period in 2011.

New Services revenues for the six months ended June 30, 2012 increased 23.6% to $17.2 million compared to $13.9 million in the same period in the prior year.

Total cost of revenues for the six months ended June 30, 2012 were $67.5 million, or 65.4% of revenue, compared to $69.1 million, or 68.1% of revenue, in the same period in the prior year. Margins improved in all three of the Company’s reporting segments. SG&A for the six months ended June 30, 2012 was $25.3 million, or 24.5% of revenue, compared to $24.7 million, or 24.4% of revenue in the same period in the prior year. Depreciation and amortization expenses were $6.9 million for the six months ended June 30, 2012 compared to $4.6 million in the same period in the prior year. The increases in depreciation and amortization expenses are primarily attributable to the additional amortization charges resulting from the BSI acquisition in December 2011 and associate migrations in the UK completed in January 2012 and June 2012.

Net earnings for the six months ended June 30, 2012 were $1.3 million, or $0.05 per basic and diluted share, compared to net earnings of $1.1 million, or $0.04 per basic and diluted share, for the same period in 2011. First half 2012 net earnings included foreign exchange losses on intercompany balances of $0.2 million compared to gains of $0.9 million for the same period last year. Exclusive of such gains and losses, first half 2012 earnings exceeded prior year first half earnings by $1.2 million, or $0.05 per share.

Adjusted EBITDA for the six months ended June 30, 2012 was $14.4 million compared to $11.1 million of Adjusted EBITDA for the same period in 2011. The six months ended June 30, 2012 Adjusted EBITDA was earnings before interest, taxes, depreciation and amortization (EBITDA) excluding a charge of $2.6 million related to stock-based compensation, $0.5 million of transformation severance and related expenses, a $0.2 million charge for acquisition obligations classified as compensation, $0.6 million in costs relating to an overtime pay claim, and $0.2 million of foreign currency losses on intercompany balances. The comparable Adjusted EBITDA amount for the six months ended June 30, 2011 excludes from EBITDA for such period a $2.2 million charge for stock-based compensation, $1.1 million of transformation severance and related expenses, a $0.2 million charge for acquisition obligations classified as compensation and $0.9 million of foreign currency gains on intercompany balances. Schedule 3 attached to this press release provides a reconciliation of net earnings to each of EBIT, EBITDA and Adjusted EBITDA.

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Liquidity

At June 30, 2012, the Company had unrestricted cash and cash equivalents of $11.8 million and had no borrowings against its revolving credit facility. Bank debt outstanding at quarter end was $7.5 million, which represented the outstanding balance on a variable rate term loan due quarterly through 2014.

Second Quarter Earnings Call

As previously announced, management will hold a conference call tomorrow morning at 8:30 AM (Eastern time) to discuss the Company’s second quarter 2012 financial results. To access the conference call, listeners in the U.S. and Canada should dial (877) 755-7423 at least 5 minutes prior to the start of the conference. Listeners outside the U.S. and Canada should dial (678) 894-3069. To be admitted to the call, listeners should use passcode 96729038.

This teleconference will also be audiocast on the Internet at www.prgx.com (click on “Events & Presentations” under “Investors”). A replay of the audiocast will be available at the same location beginning approximately two hours after the conclusion of the live audiocast, extending through September 30, 2012. Please note that the Internet audiocast is “listen-only.” Microsoft Windows Media Player is required to access the live audiocast and the replay. Media Player can be downloaded from www.microsoft.com/windows/mediaplayer.

About PRGX Global, Inc.

Headquartered in Atlanta, Georgia, PRGX Global, Inc. is the world’s leading provider of recovery audit services. With over 1,600 employees, the Company operates and serves clients in more than 30 countries and provides its services to over 75% of the top 30 global retailers. PRGX is also pioneering Profit Discovery™, a unique combination of audit, analytics and advisory services that improves client financial performance. For additional information, please visit PRGX at www.prgx.com.

Non-GAAP Financial Measures

EBIT, EBITDA and Adjusted EBITDA are all “non-GAAP financial measures” presented as supplemental measures of the Company’s performance. They are not presented in accordance with accounting principles generally accepted in the United States, or GAAP. The Company believes these measures provide additional meaningful information in evaluating its performance over time, and that the rating agencies and a number of lenders use EBITDA and similar measures for similar purposes. In addition, a measure similar to Adjusted EBITDA is used in the restrictive covenants contained in the Company’s secured credit facility. However, EBIT, EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of the Company’s results as reported under GAAP. In addition, in evaluating EBIT, EBITDA and Adjusted EBITDA, you should be aware that, as described above, the adjustments may vary from period to period and in the future the Company will incur expenses such as those used in calculating these measures. The Company’s presentation of these measures should not be construed as an inference that future results will be unaffected by unusual or nonrecurring items. Schedule 3 to this press release provides a reconciliation of net earnings to each of EBIT, EBITDA and Adjusted EBITDA.

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Forward-Looking Statements

In addition to historical information, this press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include both implied and express statements regarding the Company’s financial condition and revenue and Adjusted EBITDA growth, business development efforts, and the success of its growth strategies and expansion into new markets. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from the historical results or from any results expressed or implied by such forward-looking statements. Risks that could affect the Company’s future performance include revenues that do not meet expectations or justify costs incurred, the Company’s ability to develop material sources of new revenue in addition to revenues from its core recovery audit services, changes in the market for the Company’s services, the Company’s ability to retain and attract qualified personnel, changes to Medicare and Medicaid recovery audit contractor programs, the Company’s ability to integrate recent and future acquisitions, uncertainty in the credit markets, the Company’s ability to maintain compliance with its financial covenants, client bankruptcies, loss of major clients, and other risks generally applicable to the Company’s business. For a discussion of other risk factors that may impact the Company's business, please see the Company’s filings with the Securities and Exchange Commission, including its Form 10-K filed on March 15, 2012. The Company disclaims any obligation or duty to update or modify these forward-looking statements.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: PRGX Global, Inc.

CONTACT: PRGX Global, Inc.

investor-relations@prgx.com

Phone: 770-779-3011

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SCHEDULE 1

PRGX Global, Inc. and Subsidiaries

Condensed Consolidated Statements of Income

(Amounts in thousands, except per share data)

(Unaudited)

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SCHEDULE 2

PRGX Global, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

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SCHEDULE 3

PRGX Global, Inc. and Subsidiaries

Reconciliation of Net Earnings to EBIT, EBITDA and Adjusted EBITDA

(Amounts in thousands)

(Unaudited)

EBIT, EBITDA and Adjusted EBITDA are all “non-GAAP financial measures” presented as supplemental measures of our performance. They are not presented in accordance with accounting principles generally accepted in the United States, or GAAP. The Company believes these measures provide additional meaningful information in evaluating the Company’s performance over time, and that the rating agencies and a number of lenders use EBIT, EBITDA and similar measures for similar purposes. In addition, a measure similar to Adjusted EBITDA is used in the restrictive covenants contained in the Company’s secured credit facility. However, EBIT, EBITDA and Adjusted EBITDA have limitations as analytical tools, and you should not consider them in isolation, or as substitutes for analysis of our results as reported under GAAP. In addition, in evaluating EBIT, EBITDA and Adjusted EBITDA, you should be aware that in the future we will incur expenses such as those used in calculating these measures. Our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items.

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SCHEDULE 4

PRGX Global, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Amounts in thousands)

(Unaudited)

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SCHEDULE 5

PRGX Global, Inc. and Subsidiaries

Results by Operating Segment *

(Amounts in thousands)

(Unaudited)

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