Chairman's Statement to the United Business Media plc AGM - Profits
Broadly in Line, Strategy on Track

    GBP300m Special Dividend With Share Consolidation

    LONDON, May 12 /PRNewswire-FirstCall/ -- Speaking at the United Business
Media annual general meeting today, the Chairman, Geoff Unwin said:
    "2005 has already seen significant changes for UBM, with a steady
pipeline - over GBP60m to date - of earnings enhancing acquisitions, the
GBP383m disposal of NOP World, the GBP35m disposal of UBM's shareholding in
SDN, a GBP32m settlement payment from Granada, and the appointment of a new
CEO.
    "David Levin has been enthusiastically taking up the reins of the Group
as its new CEO - following the departure of Clive Hollick who leaves UBM
having made an outstanding contribution in his 31 years at the head of the
company.
    "Profits from our continuing operations are broadly in line with the
trends we indicated in February, albeit with revenue softening in March and
April, partially offset by further cost savings. UBM continues to achieve
revenue growth in its exhibitions, particularly in Asia, and in its online
operations; US news distribution also continues to show solid revenue growth;
however print continues to face significant challenges, particularly in the
classified titles but also in display titles.
    "In this changing market, it is all the more important for us to renew
our product ranges and evolve our existing products and UBM is moving ahead
with our previously announced GBP5m to GBP10m programme of incremental new
product investment."
    "UBM has bought market leading publishing businesses for around GBP60m so
far this year - including medical trade press in France, specialised paper
industry events and publications in Asia, specialist licensed trade
publications and events in the UK and leading online developer websites in
the US.
    "The GBP383m NOP World disposal remains on track for completion at the
end of May, with Hart-Scott-Rodino anti-trust clearances having been received
and certain other clearances still pending. Conditional on completion, UBM
intends to return GBP300m of the proceeds to shareholders - all of it by way
of a special dividend of approximately 90p per share. In order to maintain
comparability of the UBM share price and earnings and dividend per share
before and after the payment of the special dividend, the Board intends to
seek shareholder approval to implement a consolidation of UBM's issued
ordinary share capital. A circular will be posted to shareholders with
details of the proposed return of funds and to convene the necessary EGM in
due course. Subject to the timing of completion of the NOP World disposal and
to shareholder approval at the necessary EGM, the special dividend and
consolidation should be completed by the end of June. Detailed documentation
on the special dividend and consolidation process will be issued following
completion of the NOP World sale. Today we are also seeking the renewal of
authority to buyback 10 per cent of our own shares."
    New CEO David Levin today added:
    "It's great to be on board and getting stuck in. I'm delighted with the
handover I have received from Clive and Malcolm Wall and have been pleased by
the depth of preparation for the transition from the organisation.
    "I have reorganised the management of the businesses to align the
structure of UBM's management and UBM's cost base with the geographical needs
of customers and their marketplaces, as well as to address the issue of
performance at UAP. We continue to look for "bolt on" opportunities to
consolidate our chosen markets and the acquisition of ABI was a good fit with
our continuing strategy.
    "UBM is an increasingly focused provider of B2B information services
worldwide, its businesses operate across rapidly evolving publishing, events
and other media platforms, in a wide range of industry sectors. We intend to
build on the strength of these market leading positions and brands and to
ensure UBM is ever closer to its customer base."
    Detailed Notes:
    Changes to UBM Management Structures
    Bernard Gray, CEO of CMPi (UK and continental Europe), has now also
become CEO of United Advertising Publications UAP (including Exchange & Mart
and Dalton's Weekly). Gary Marshall, CEO of CMP Media, has taken on
responsibility for those CMPi businesses which operated in the USA (notably
the enthusiast Music and Entertainment titles), these have now been brought
into CMP Media. Charles Gregson takes on the CEO role at PR Newswire.
    UBM's next scheduled trading information point is its regular pre close
season update on 21st June 2005.
    IFRS
    UBM will produce its 2005 interim accounts on an IFRS basis - with a
reconciliation to UK GAAP. In advance of the 2005 interim results UBM will
provide 2004 interims results restated on a comparable IFRS basis.
    Notes to Editors:
    United Business Media plc (http://www.unitedbusinessmedia.com) is a
leading provider of business information services to the technology,
healthcare, media, automotive, financial services and property industries.
UBM offers services in news distribution, publishing and events to customers
across the globe. Its brands include PR Newswire, the world's leading
corporate news distribution service and CMP, the B2B media and exhibition
group operating in high tech, healthcare, property, entertainment, jewellery
& fashion in the US, UK, Asia and Europe.
    This press release includes statements which are not historical facts and
are considered "forward-looking" within the meaning of Section 27 of the
Securities Act of 1933, as amended. These forward-looking statements reflect
UBM's current views about future events, business and growth strategy and
financial performance. These forward-looking statements are identified by
their use of terms and phrases such as "believe," "expect," "plan,"
"anticipate," "on target" and similar expressions identifying forward-looking
statements. Investors should not rely on forward-looking statements because
they are subject to a variety of risks, uncertainties and other factors that
could cause actual results to differ materially from UBM's expectations. UBM
expressly does not undertake any duty to update forward-looking statements.
Management does not attempt to update forecasts unless conditions materially
change.

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