Acquisition of Business Intelligence Provider to International Trade and
    Transportation Industry Gives UBM a Leading Position in a New Market

    LONDON, July 5 /PRNewswire-FirstCall/ -- United Business Media plc
("UBM") (LSE: UBM) announced today that it has acquired Commonwealth
Business Media, Inc. ("Commonwealth") for a cash consideration of $152m.
    The acquisition of Commonwealth provides UBM with a strong position in
a new vertical, the international trade and transportation business
intelligence market. Commonwealth has an established portfolio of highly
regarded integrated media products and proprietary business information
databases. The transaction shows UBM continuing to execute on its strategy
of investing both organically and in acquisitions to develop multi-media
businesses that have leading positions in growing vertical B2B markets, and
to develop a balanced portfolio of media businesses and revenue streams.
    Commonwealth is a leading specialist business intelligence provider to
the international trade and transportation industry with comprehensive
proprietary data, news and analytical content which is integral to the
"back office" workflow of more than 85,000 individual customers.
Manufacturers, carriers, logistics companies and government agencies use
Commonwealth's products for a wide range of purposes including business
development, competitive intelligence, identification of new suppliers and
markets, and defending intellectual property. Headquartered in East
Windsor, New Jersey and with offices around the US and internationally,
Commonwealth employs around 400 people.
    In the year to September 2005, more than 60% of Commonwealth's revenues
were derived from data and on-line products, with 88% of revenues being
earned in the United States. In the same period Commonwealth had revenues
of $55.6m and EBITDA of $12.0m, with revenues and EBITDA being ahead of the
prior year on a pro forma basis by 6% and 14% respectively. The acquisition
is anticipated to meet UBM's 8% post tax cost of capital criteria in 2007.
    Commonwealth's market-leading products include on-line data services
PIERS Global Intelligence Solutions and BACK Aviation Solutions, The
Journal of Commerce and its related portfolio of titles (both on-line and
print) and a number of directories covering international trade, rail and
trucking markets. The company also publishes a range of magazines and
custom directories serving the U.S. seaport market. In addition
Commonwealth owns a number of industry-leading events which contributed 4%
of revenues in the year to September 2005. The events include Breakbulk
Conference and Exhibition, and Trans-Pacific Maritime Conference.
    UBM intends to support Commonwealth's existing growth plan and to
leverage UBM's international reach in order to accelerate Commonwealth's
development in markets outside the United States. UBM will also share its
event expertise to support Commonwealth in taking advantage of the rich
opportunities to further develop its event portfolio. Commonwealth will be
integrated into UBM as a new division (see Notes for details of UBM's other
divisions) with Alan Glass, Commonwealth's Chief Executive Officer
continuing in his role and joining UBM's senior executive team, reporting
directly to David Levin.
    UBM is acquiring Commonwealth from its owners who comprise RFE
Investment Partners, Bariston Partners, the Economist Group, ABRY Partners
and Commonwealth's management. The transaction is subject to anti-trust
regulatory clearance and is expected to reach completion in the next four
weeks.
    David Levin, Chief Executive Officer, United Business Media said:
    "The acquisition of Commonwealth is an exciting and positive step
forward for UBM and sees us expanding into a new vertical market while
maintaining our strategic focus on acquiring and developing a balanced
portfolio of media businesses.
    Commonwealth is a great strategic fit for UBM: it is a leader in the
international trade and transportation business intelligence market, a
market which is substantial and set to continue to grow as world trade
expands. Commonwealth products like PIERS allow companies from a range of
industries to determine who is buying, who is selling, where and how goods
are being transported. This is the vital information, news and analysis
that Commonwealth customers rely on to transact their business, day by day.
    Commonwealth has rich resources both in its unrivalled historic and
current market intelligence and databases. As a data business, Commonwealth
is a highly complementary addition to UBM's other events and print media
businesses.
    I look forward to working with Alan Glass and his team to accelerate
the business's international growth, exploiting United Business Media's
broad media experience, expertise, international presence and financial
resources."
    Notes to Editors
    1. About Commonwealth Business Media
    Commonwealth Business Media, Inc. is the leading information provider
to the global trade and transportation market with comprehensive
proprietary data, news and analytical content. Its leading brands include
PIERS Global Intelligence Solutions, BACK Aviation Solutions, The Journal
of Commerce and a number of directory databases covering the international
trade, railroad and trucking markets.
    In addition to its information data businesses, Commonwealth publishes
eight magazines, one newsletter and a series of custom-published
directories serving the U.S. seaport market. Through the Journal of
Commerce Conference division, Commonwealth produces nine industry-leading
events including Trans-Pacific Maritime, China Trade & Logistics, Breakbulk
Conference and Exhibition, Breakbulk Europe, and Trans-Pacific Air Cargo.
Commonwealth is headquartered in East Windsor, New Jersey, with offices in
Newark, San Francisco, New Haven, Long Beach, Atlanta, Montreal, Toronto,
Washington DC, Miami, Ft. Lauderdale, Tampa, Hong Kong and London.
    For more information, go to http://www.cbizmedia.com
    About PIERS Global Intelligence Solutions
    PIERS maintains the most comprehensive database of timely, accurate,
import and export information on cargoes moving through ports in the United
States, Mexico, Latin America and Asia. PIERS collects data from over
25,000 bills of lading every day and translates that raw data into
meaningful business intelligence that companies around the world use to:
    - find new suppliers, new markets and new business opportunities
    - benchmark performance against the competition
    - defend intellectual property against infringement and counterfeiting
    - understand international trade trends and forecasts
    - support strategic decision-making
    - arbitrate trade disputes
    For more information, go to http://www.piers.com
    About BACK Aviation Solutions
    BACK Aviation Solutions (BACK) specializes in providing strategic and
technical consulting and data information services to the aviation
industry. BACK offers the most comprehensive collection of aviation
information and analytical tools available in the air transport industry.
BACK Aviation Solutions brings together city/airport traffic data, airline
load factors, airline schedules, financials, operating statistics, route
mapping, and fleet data and makes this information available online.
    BACK's global client base includes scheduled and non-scheduled
airlines, airports, financial institutions, tourist authorities, corporate
and charter operators, engine and airframe manufacturers, third party
maintenance and other service suppliers, aircraft lessors and other
entities that own, operate, service, market, finance or regulate the air
transportation industry.
    For more information, go to http://www.backaviation.com
    2. About United Business Media plc
    United Business Media is one of the world's leading global business
information companies. UBM brings together the world's buyers and sellers,
helping their markets work effectively and efficiently through PR
Newswire's news distribution network and CMP's portfolio of events, print
and on-line publications. For more information, go to
http://www.unitedbusinessmedia.com
    About PR Newswire - PR Newswire is the world's leading corporate news
distribution service. Headquartered in New York, PR Newswire distributes
news globally on behalf of over 40,000 customers, including many of the
world's top companies and agencies, helping them take the latest news to
the media, the investment community, and the general public. For more
information, go to http://www.prnewswire.com
    About CMP - CMP's portfolio of more than 200 newspapers, magazines and
directories, 200 websites and 300 events brings together buyers and sellers
from a range of global sectors including technology, healthcare, the built
environment, lifestyle, fashion and ingredients.
    CMP operates globally through four divisions:
    CMP Technology - CMP Technology is the USA's leading high tech B2B
media company, providing marketing solutions for the global technology
industry. Through its market-leading portfolio of trusted information
brands, CMP Technology has earned the confidence of more technology
professionals than any other media company. As a result, CMP Technology is
the premier provider of access, insight and actionable programs designed to
connect sellers and buyers in ways that yield superior return on
investment. For more information, go to http://www.cmp.com
    CMPMedica: CMPMedica provides information and education to healthcare
professionals and patients around the world. It has a unique portfolio of
professional media products including newspapers, magazines, drug
directories, electronic databases, websites and events. For more
information, go to http://www.cmpmedica.com
    CMP Information: Operating in the UK and internationally, CMPi provides
professional media solutions to around 20 industry sectors. Its products
include magazines, exhibitions, conferences, awards programs, information
products and websites, targeted at business professionals across a range of
markets such as the built environment, travel, licensed trade, agriculture,
security and ingredients. For more information, go to http://www.cmpi.biz
    CMP Asia: Headquartered in Hong Kong with offices throughout the
region, CMP Asia is a leader in exhibitions and online and print business
information publications for Asian markets. Working with partners from
around the world, CMP Asia stages a range of leading events which includes
the largest international jewellery, leather and fashion, beauty and
furniture trade shows in Asia, as well as the definitive health show for
the Japan market. For more information, go to http://www.cmpasia.com

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