Acquisition of ADIPEC

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Tuesday 13 June 2006

dmg world media, the exhibitions division of DMGT, announces the acquisition of the assets of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) from the Abu Dhabi National Exhibition Centre (ADNEC).

ADIPEC is a biennial event held in Abu Dhabi and is one of the world's largest oil and gas exhibitions. The next edition will be held on the 5-8 November 2006. The show will form part of dmg world media's oil and gas portfolio, operated by its Business Media International division, which includes the Global Petroleum Show and the Gastech exhibition and conference.

The total cost of the deal is estimated to be AED36million (£5.3m), including an initial payment of AED18million (£2.65m) and a further payment in December 2006 based on the performance of the 2006 event.

Enquiries to:
Nick Ratcliffe, Vice-President Finance, dmg world media:
01737 855046

Peter Williams, Finance Director, DMGT:
020 7938 6631