EMAP USA ACQUIRED BY PRIMEDIA

On Monday, July 2, 2001, Primedia announced that it has agreed to acquire emap usa from Emap plc. This transaction, which will create the second largest magazine company in the United States, is currently under a customary regulatory review. It is expected to close during the third quarter of the calendar year.

This new development offers many exciting opportunities for emap usa assets. Primedia is the largest targeted media company in the world with a strong presence in the automotive, teen, outdoor, active sports and consumer electronics arenas. Once the sale is concluded, more information will be available for marketing partners and readers on what this means for the titles in the High Tech Group, including Stereophile, Home Theater, Stereophile Guide to Home Theater, Mobile Computing and Communications, PHOTOgraphic and Home Theater Interiors.

In the meantime, it is business as usual at emap usa. Marketers, please contact your advertising representative regarding advertising space. Readers, look for your favorite magazines to be published on schedule.

If you would like more information on the transaction, please go to emapusa.com to review a statement from Emap plc. The July 2 announcement mentioned above is posted on Primedia.com. A recording of a Primedia conference call regarding the sale can be accessed by dialing 1(800) 938-0996 in the U.S., and 1(402) 220-1540 outside of the country. The recording will be available until 7:00pm ET, Monday, July 9, 2001.

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