dmg world media in Alliance to Invest in US On-line Gift Market

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Wednesday 29 November 2000

dmg world media, the exhibition and related activities' division of DMGT, today announced that it is the leading investor in a consortium to develop an e-commerce platform to serve the US$70 billion North American gift and home industry.

Internet alliance funding is being provided by dmg world media, U.S. giftshow organiser George Little Management (GLM) and Crow Holdings, owner of Dallas Market Center (DMC), to develop on-line services for the American gift and home sector through business to business e-commerce site, 'Whereoware.com'. This alliance will give Whereoware access to at least 70% of gift and home industry manufacturers and retailers.

dmg world media is taking a 44.75% overall stake in Whereoware, making available funding of approximately US $14 million over a two year period, subject to the achievement of certain milestones. The deal follows the company's $70 million acquisition of a 25% stake in U.S. gift show organiser, George Little Management.

Inquiries to:
Peter Williams, Finance Director, DMGT 020 7938 6631
Jason Gower, Good Relations (on behalf of dmg world media) 020 7861 3133