Acquisition of Australian Trade Exhibitions

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Monday 24 July 2000

dmg world media, a division of DMGT, today announces the acquisition of ten of Australia's top consumer and trade shows, including the Home Ideas Show and the Interior Design Exhibition for an undisclosed sum which was less than £10 million. Net assets acquired were negligible. The acquisition of Melbourne based Australian Trade Exhibitions ('ATE') strengthens dmg world media's position in Australasia, one of the company's key target regions for growth and fits with their expansion strategy to focus on the purchase of the leading exhibition and publishing companies in key regional media markets.

dmg world media became a major force in the Australian exhibition industry, following the purchase of Riddell Promotions last year. Before their acquisition, Riddell and ATE were respectively Australia's largest and second largest independent exhibition organisers. Together they make dmg world media one of Australia's largest exhibition companies.

"The acquisition of Australia's two largest independent show organisers gives us an exciting portfolio of consumer and trade shows and confirms our position as Australasia's largest exhibition company", said Michael Franks, chairman of dmg world media's Australasian businesses. "Although we are a relatively new presence in the Australian market our acquisitions policy has led to rapid growth. This deal consolidates our position, but we are looking to expand our operations further in the region through launching or acquiring further shows that complement our existing portfolio."

ATE organises The Home Ideas Show, held annually in April at the Melbourne Exhibition Centre, which fills more than 25,000 square metres and attracts 350 exhibitors and more than 150,000 visitors every year. Through the purchase of Riddell, dmg world media already owns the Commonwealth Bank Home Show and Garden Expo, held every August in Melbourne.

Inquiries to:
Peter Williams, Finance Director, DMGT: 020 7938 6631
Michael Franks, dmg world media: 001 707 778 2219