Highline Media Acquires Fraud International and Crackdown!

1/6/2005

Erlanger, KY — The National Underwriter Company, a division of Highline Media LLC, recently acquired the rights to Fraud International from Phil Peart and MJM Investigations. With a circulation of 8,000, the FI audience

is comprised of special investigative units in insurance companies,

claims executives and corporate risk managers dedicated to fighting

fraud in the industry. Fraudulent claims are estimated to be $100

billion each year.

Another recent acquisition, Crackdown!, a magazine with a similar mission in New York State also transfers to National Underwriter. Crackdown! has

been published by CINN Worldwide alongside Insurance Advocate, which

was acquired by National Underwriter in September 2004. The plan is to

merge Crackdown! and Fraud International into one quarterly publication, with expanding frequency as market conditions warrant.

Phil Schreiner, the editor of National Underwriter’s Claims magazine, serves as Editor of Crackdown! Phil Gusman continues as Associate Editor. Harry Rosenthal serves as the Publisher of Crackdown! while Steve Acunto Jr., is Associate Publisher.

For more information, please contact:
Andrew L. Goodenough,
President and Chief Executive,
Highline Data LLC
859/692-2175

About Highline Media

Highline Media was formed in October 2003 by Spire Capital

Partners, L.P., and headed by Andrew L. Goodenough, its President and

Chief Executive Officer, to acquire business-to-business information

assets in the financial services, insurance and real estate fields.

Highline’s product set includes magazines, data, newsletters,

conferences, websites, books and reference materials, delivered in

print, electronic and live event form. Goodenough has more than 25

years’ experience in financial industry publishing and information

services, and prior to founding Highline Media, served as the President

of the Financial Publishing and Conferences Group, a division of The

Thomson Corporation. Highline’s first acquisition was The National

Underwriter Company (“NUCO”), the leading publisher of insurance

information in the U.S. in 2004 the company completed an additional five

acquisitions, adding insurance and banking data businesses acquired

from The Thomson Corporation; an insurance training and continuing

education business; two magazines; several liability books.

About The National Underwriter Company
NUCO,

formed in 1897, is the leading publishing and information services

business for the insurance industry. Headquarters are in Erlanger,

Kentucky, a suburb of Cincinnati, and principal editorial and

advertising sales offices are in Hoboken, New Jersey. NUCO’s Insurance

Magazine Division publishes two weekly newsmagazines for the

property/casualty and life/health sectors of insurance carrying the

National Underwriter brand. The company also publishes Claims, a monthly

magazine for claims executives; Tech Decisions, for IT insurance

professionals; and two regional titles, Florida Underwriter, and

Insurance Advocate, for the New York metro market. In live events, NUCO

sponsors its annual ACE/SCLA claims conference and the Life Insurance

Sales Mastery Forum. NUCO’s Professional Publishing Division issues its

Fire, Casualty and Surety bulletins, reporting on the latest

developments in insurance policy application and legal interpretation;

and the TaxFacts annuals, summarizing how the tax code affects insurance

benefits and investment decisions, among some 160 titles in all. For

more information about NUCO, visit www.nuco.com.

About Spire Capital

Spire Capital Partners, L.P. is a $260 million

private equity fund focused exclusively on the media and communications

industries. The principals of Spire Capital have served

as owners, managers, investors and advisors of companies in the media

and communications industries for more than 20 years. Spire Capital

has a diversified limited partner base that includes several prominent

media and communications industry executives. In addition, Spire Capital

works closely with its portfolio companies to raise capital, secure

contracts, establish strategic relationships, develop operating plans

and recruit management. For more information on Spire Capital, visit www.spirecapital.com.