2006 News Releases

11 January

United Business Media acquires Shorecliff Communications for $12.3m

United Business Media today announced that it has acquired Shorecliff Communications LLC, a US events business, for a cash consideration of $12.3 million.

Shorecliff’s four principal events focus on the high growth technology markets of radio frequency identification (RFID), broadband services, wireless infrastructure and telecoms television / Internet Protocol television (IPTV). The Shorecliff events are expected to generate revenue of around $6 million in 2006.

David Levin, Chief Executive of United Business Media, said:

"The acquisition of Shorecliff reflects UBM’s continuing commitment to acquiring bolt-on, complementary assets that develop and enhance our existing businesses while also achieving our 8% post tax cost of capital hurdle. This acquisition continues the development of UBM’s events portfolio and follows the acquisition of Informex, Black Hat, ICMI, Bar Show and Japan Jewellery Show in the second half of 2005."

Steve Weitzner, Chief Executive of CMP Media said:

"Shorecliff’s business is strongly complementary to CMP Media’s existing activities and its focus on important, fast-growing IT and telecommunications markets. This acquisition is part of a broad-based strategy to grow our audience and diversify our solutions for bringing sellers and buyers together. We are delighted to have Shorecliff’s talented and experienced team joining us in building CMP’s industry’s leading IT B2B publishing business."

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Notes to Editors

1. Shorecliff Communications
Shorecliff is a US technology events business serving four main communities: radio frequency identification (RFID), broadband, wireless infrastructure and internet protocol television (IPTV). The company provides industry-leading business-to-business conferences, trade exhibitions and complementary media properties in these high growth technology sectors.

Shorecliff’s events portfolio includes RFID World, the largest RFID focused industry event, TelcoTV Conference & Expo, Broadband Wireless World and Tower Technology Summit & Trade Show.

In addition to the $12.3 million cash consideration, there is a potential earnout payment of up to $1.9 million.

For further information, please go to www.shorecliffcommunications.com

2. United Business Media
United Business Media operates two main business streams – PR Newswire and CMP.

PR Newswire is the world’s leading corporate news distribution service.

CMP specialises in creating prime print, online and exhibition franchises that bring industry professionals and enthusiasts together to be better informed, meet and do business. CMP is, as a result, at the forefront of the development of many national and global industries.

UBM has a market capitalisation of around £1.8 billion and employs 5,500 people around the world. In 2004, UBM’s turnover was £809 million and operating profit was £132 million. The company is led by David Levin, who was appointed as Chief Executive in April 2005. Nigel Wilson, is Chief Financial Officer and was appointed in 2001.

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