LONDON, December 15 /PRNewswire-FirstCall/ --
    - Trading in Line With Expectations
    United Business Media plc announced today that its overall trading
performance for the second half of 2006 is in line with expectations.
    PR Newswire and CMP Asia continue to perform strongly while trading at
CMP Information and CMP Technology has been mixed. The newly-integrated
healthcare business CMPMedica is operating in line with expectations.
Commonwealth Business Media, the trade and transportation information
business acquired in July, is delivering results in line with its
acquisition case.
    Since 1 July, United Business Media has made nine acquisitions for
GBP104m, bringing the number of acquisitions made in the year to date to 15
at a total cost of GBP152m. Returns from acquisitions continue to achieve
or exceed the Group's cost of capital. Disposals in 2006 have realised
GBP60m. In the year to date UBM has returned a total of GBP152.3m of
capital to shareholders, in line with the intention announced in February
2006 to return in excess of GBP300m of capital to shareholders by the end
of 2007, subject to trading conditions. Cash conversion remains high.
    Trends in operating performance for the second half of 2006
    PR Newswire
    PR Newswire has continued its strong financial performance during the
second half of the year with demand from US customers for PR Newswire's
premium US1 news distribution service continuing to grow whilst its key
added value services - MediaAtlas, eWatch and ProfNet - have also performed
well. In Europe and Asia, PR Newswire is well placed to take advantage of
growing financial market regulatory disclosure requirements, the expansion
of its global customer base and the broader market growth in public
relations expenditure. In October, PR Newswire strengthened its position in
the US non-regulatory news distribution market with the acquisition of US
Newswire for $19m (GBP11m).
    CMP Asia
    The strong underlying revenue and profit performance of CMP Asia has
continued during the second half of the year. The Hong Kong Jewellery &
Watch Fair and Cosmoprof, the largest beauty trade event in Asia, held in
September and November respectively, both exceeded expectations. CMP Asia
continues to expand its activities throughout this high growth region, most
recently with the successful co-launch with CMP Information of the Indian
CPhI show in December and with the launch of several new shows in Hong Kong
and China.
    CMP Information
    CMP Information's performance in the second half of the year has been
mixed. The strength of CMP Information's exhibitions, particularly its
international exhibitions, has been offset by weaker markets for some print
titles and by increased investment in new online, exhibition and data
products. In the second half, CMP Information acquired three events - The
Thames Gateway Forum, ATC (Air Traffic Control) Maastricht Conference and
The Care Show - for a total of GBP4m.
    CMP Technology
    The overall performance of CMP Technology's continuing operations in
the second half was slightly below expectations, mainly in the Business
Technology Group which includes titles such as Information Week. Actions
taken to improve CMP Technology's performance have included its
reorganisation and decentralisation so as to orientate it more directly
towards its three key markets - the builders, the sellers and the users of
technology. The business's senior management and sales force have also been
strengthened, with a number of important external recruits joining the
company during the second half. Through its active acquisition and disposal
program, CMP Technology has significantly strengthened and focused its
product portfolio and is now well positioned to serve its customers' needs
across all media channels. The event and online businesses acquired during
2005 and 2006 are performing well. In the second half CMP Technology's
non-core, largely print-based US Entertainment business was sold for
approximately $52m (GBP27m).
    CMPMedica
    Overall, CMPMedica's performance during the second half of 2006 was in
line with expectations. CMPMedica's France-based operations - from which
the business derives more than half its profits - is performing well and
growing. The performance in other geographies is mixed. In response to
challenging UK and US markets, CMPMedica has accelerated its new product
investment, particularly in event and data products, and in the vertical
search product, SearchMedica.
    Commonwealth
    In July UBM acquired Commonwealth Business Media for $152m (GBP83m).
Commonwealth provides data, news and analytical content integral to the
everyday workflow of professionals working in the international trade and
transportation industry. The business has been successfully integrated into
UBM and is performing in line with its acquisition case. Commonwealth gives
UBM a strong position in a new B2B, principally data-based media market. We
believe that the business has significant growth potential through
acquisition, internationalisation of its existing products and through
expansion of its events portfolio. The fragmented international trade and
transportation media market provides Commonwealth with numerous
opportunities to augment its organic growth with acquisitions. In December,
Commonwealth made its first acquisition under UBM's ownership, purchasing
OAG Holdings for GBP2.5m. OAG's data and product portfolio represent highly
complementary additions to Commonwealth's existing BACK Aviation Solutions
business.
    Return of capital
    In February United Business Media indicated its intention to return in
excess of GBP300m of capital to shareholders by the end of 2007, subject to
trading conditions. The company remains committed to that goal and is
working towards establishing a prudently leveraged balance sheet in the
medium term. Since February UBM has returned GBP68.1m through convertible
buybacks and GBP84.2m through buying back 12.76m ordinary shares, bringing
the total capital return to GBP152.3m for the year to date. The number of
ordinary shares in issue following the buybacks is currently 279.4m. As at
30 November UBM had net cash of GBP130m.
    David Levin, Chief Executive Officer, United Business Media plc said:
"I am pleased that our trading performance continues to meet expectations.
It's particularly important that we've achieved this against a backdrop of
the continuing strategic development of United Business Media's businesses.
Our strategy is to drive profitable growth by building leading positions in
fast-growing geographical and vertical B2B media markets. We're doing this
through a combination of developing new products in-house, extending our
existing products and by acquiring new products and businesses. We aim to
meet the media needs of our customers in each of our markets with the right
mix of events, online, print and embedded workflow data products."
    *UBM will announce its preliminary results for 2006 on 2 March 2007.
    A conference call for analysts and investors will be held at 9.30am
today.
    Dial-in details: Participant dial-in: +44-208-609-0205, UK Freephone
Number: 0800-358-2705, PIN Code: 136666#
    A replay facility will be available for seven days after the conference
call: Replay facility number: +44-208-609-0289, UK Freephone Number:
0800-358-2189, US Access Number +1-866-793-4279, Conference reference:
159399
    Notes to Editors
    1. 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, Commonwealth’s trade and
transportation business intelligence, and through CMP's portfolio of
events, print and on-line publications. For more information, go to
http://www.unitedbusinessmedia.com
    1.1. About PR Newswire
    PR Newswire is the world's leading corporate news distribution service.
Headquartered in New York, PR Newswire provides news distribution,
targeting, measurement and broadcast services on behalf of tens of
thousands of customers including many of the world's top companies and
agencies. PR Newswire has offices in 11 countries and routinely sends its
customers' news to outlets in 135 countries and in more than 40 languages.
PR Newswire's services include ProfNet Experts, eWatch, MEDIAtlas, Search
Engine Optimization , MediaRoom, MediaSense and MultiVu. For more
information, go to http://www.prnewswire.com
    1.2. About Commonwealth & CMP
    Commonwealth and CMP's portfolio of more than 200 newspapers, magazines
and directories, 200 websites and 200 events brings together buyers and
sellers from a range of global sectors including technology, healthcare,
trade and transportation, the built environment, lifestyle, fashion and
ingredients. The businesses operate globally through the following
divisions:
    1.2.1. 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
    1.2.2. 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 events, 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
    1.2.3. CMP Technology:
    CMP Technology is a marketing solutions company serving builders,
sellers and buyers of technology worldwide. Through its portfolio of
market-leading print, event and online information brands, CMP Technology
delivers access, insight and actionable programs designed to connect
technology sellers and buyers. For more information, go to http://www.cmp.com
    1.2.4. 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
    1.2.5. Commonwealth Business Media:
    Commonwealth Business Media is the leading information provider to the
global trade and transportation market with comprehensive proprietary data,
news and analytical content. Commonwealth is headquartered in East Windsor,
New Jersey with offices around the US and internationally. For more
information, go to http://www.cbizmedia.com

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