LONDON, June 3 /PRNewswire-FirstCall/ -- Following a strategic review of
options to maximise the value for Shareholders of UBM's market research
business, NOP World, United Business Media plc announced on 15 April 2005
that it had agreed to sell NOP World to GfK Aktiengesellschaft for GBP383
million in cash.
    Subsequent to the announcement of the sale, on 12 May 2005, UBM stated
its intention to return GBP300 million of the sale proceeds to shareholders
by way of a special dividend. Following the successful completion of the NOP
World disposal on 1 June 2005, the Board is proposing to pay a Special
Dividend of 89 pence per Existing Ordinary 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 is also seeking Shareholder approval to implement a consolidation
of UBM's issued ordinary share capital. The Share Consolidation will replace
17 Existing Ordinary Shares with 14 New Ordinary Shares.
    UBM has posted a circular to Shareholders today setting out the details
of the Special Dividend and the Share Consolidation and a notice of an
Extraordinary General Meeting to be held at 10 a.m. on 20 June 2005 to seek
the requisite approval from Shareholders.


    Expected timetable of principal events

    Latest time for receipt of Forms of Proxy to be valid at the EGM
    10.00 a.m. on 18 June

    Extraordinary General Meeting
    10.00 a.m. on 20 June

    Last time for dealings in Existing Ordinary Shares
    4.30 p.m. on 20 June

    Record Date for entitlement to the Special Dividend and for the
    Share Consolidation
    6.00 p.m. on 20 June

    Shares marked ex-Special Dividend
    21 June

    Admission of New Ordinary Shares and dealings commence
    8.00 a.m. on 21 June

    New Ordinary Shares credited to CREST accounts
    21 June

    Payment of Special Dividend
    28 June

    Despatch of share certificates for New Ordinary Shares and cheques
    in respect of the sale of fractional entitlements to New Ordinary Shares
    30 June


    All times stated in this announcement are London time. If any of the
above dates change, the revised dates will be notified to Shareholders by
announcement through a Regulatory Information Service.
    A copy of the circular has been submitted to the UK Listing Authority and
is available for public inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:
    Financial Services Authority, 25 The North Colonnade, London E14 5HS.
    All definitions used in the circular to Shareholders dated 3 June 2005
have the same meaning when used in this announcement.
    Dresdner Kleinwort Wasserstein, which is regulated in the United Kingdom
by The Financial Services Authority, is acting exclusively for United
Business Media plc and for no one else in connection with the Proposals
referred to in this document, and will not be responsible to anyone other
than United Business Media for providing the protections afforded to
customers of Dresdner Kleinwort Wasserstein Limited nor for providing advice
to any other person in relation to the Proposals.

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