United Business Media Completes Sale of NOP World for GBP383m

    Set for GBP300m Special Dividend With Share Consolidation

    LONDON, June 1 /PRNewswire-FirstCall/ -- United Business Media plc
("UBM") announces that it has completed the sale of its market research
business, NOP World, to GfK Aktiengesellschaft ("GfK"), for GBP383 million in
cash. The disposal agreement was announced on 15 April 2005.
    Earlier this year, UBM announced a review of strategic options for NOP
World. A number of third parties expressed their interest in acquiring NOP
World and the Board concluded that the sale of NOP World to GfK would
maximise value for UBM shareholders.
    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 pyment 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. Subject to shareholder
approval, the special dividend and consolidation should be completed by the
end of June.
    David Levin, Chief Executive Officer of UBM, said: "I am delighted with
the achievement of this excellent result, enabling us to make a substantial
capital return to shareholders and creating a more focused UBM which can
continue to develop its global publishing and events interests."
    NOP World is a leading provider of both syndicated and custom primary
research and consulting support services. During the year to 31 December
2004, NOP World generated GBP222.9 million of turnover (2003: GBP203.9
million), GBP20.1 million of profit before interest, tax and amortisation
(2003: GBP19.3 million) and GBP7.9 million of profit before interest and tax
(2003: GBP4.9 million). At 31 December 2004, NOP World had net operating
assets of GBP80.2 million.
    The consideration of GBP383 million is stated on a debt/cash free basis
and is subject to an adjustment to reflect the level of working capital at
completion.
    Dresdner Kleinwort Wasserstein Limited and Allen & Company LLC acted as
financial advisers to UBM on this disposal.
    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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