Highline Media Acquires Futures and Research Magazines From Adams Business Media

10/13/2005

Hoboken, NJ — Highline Media, a leading information provider to the financial and insurance industries, today announced that it has acquired Research and Futures magazines from Adams Business Media. Terms of the transaction were not disclosed.

Research and Futures magazines are key next steps in broadening our portfolio of magazine titles across the financial industry spectrum,” said Andrew L. Goodenough, President and CEO of Highline. “We have been expanding our reach to more sectors of the financial distribution system, from our home base among insurance agents, to a broader base of financial advisors. In September we acquired Wealth Manager from Bloomberg, and now Research from Adams, which has a circulation list of 95,000 registered representatives in the securities industry. We now cover a significant portion of the people who sell financial products in the U.S.” Research is based in San Francisco and managed by Robert Tyndall, who stays with the title as Publisher.

Futures magazine, founded in 1972, is the oldest title serving the nation’s commodities and financial futures, options and derivatives market, with 60,000 subscribers. While commodities futures have been traded since the late 1800s, financial futures have only been in existence for 25 years, and have grown in activity, to the point where far more financial contracts are traded each year than those based on commodities. “The oldest and most-recognized brand name in the derivatives market, Futures gives us a strong position among those who trade futures products, as well as among those who look to apply hedging strategies to manage financial risk. This is a core activity in the U.S. financial markets, and we are pleased to own the leading title serving this market,” said Goodenough. “We welcome Ginger Szala, the editor and publisher, and her Chicago-based team of experienced journalists and sales executives, to Highline.”

Both publications now are part of Highline’s Financial Magazine Division, led by Thomas A. Fowler, Vice President and Group Publisher. Fowler was formerly head of the Investment Management Group at Thomson Media, which included such titles as Financial Planning, On Wall Street, Securities Industry Newsand Bank Investment Consultant.

Included in the purchase are related websites, the subscription services Commodity Price Charts,pricecharts.com and Trends in Futures, as well as publishing rights to Buyside magazine.

Highline is backed by private equity firm Spire Capital, and the banks Harris, Nesbit and Brown, Brothers Harriman.

The seller, Adams Business Media, was advised by Berkery, Noyes and Co., LLC.

About Highline Media

Highline Media was formed in October 2003 by Spire Capital Partners, L.P.(www.spirecapital.com), 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; and several liability books. The acquisition of Wealth Manager is the company’s first in 2005. For more background, please refer to www.highlinemedia.com.