Acquisition of further 15% stake in GLM

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Monday 10 January 2005

dmg world media, the exhibitions division of DMGT, has announced the acquisition of a further 15% stake in George Little Management LLC ('GLM'), the largest privately-held tradeshow management company in the United States, bringing its total shareholding in the company to 40%.

The existing terms for the acquisition of the remaining shares in GLM will remain in place, which means that dmg world media will acquire a further 11% of the shares between 2006 and 2010 and the remainder by 2014. Additionally, it has now been agreed that, whereas under the existing arrangements the vendors could put all their shares to DMGT at any time from 2006 onwards, they will now be limited to a maximum of 20% of the shares in GLM in any one year.

The total cost for the acquisition of the further 15% stake is US$35.1 million (£18.5 million). We expect the acquisition to be earnings enhancing before goodwill amortisation during the current year.

Enquiries to:
Mark Alcock, Deputy Chief Executive Officer,
dmg world media
020 8515 2170

Peter Williams, Finance Director,
DMGT
020 7938 6631