Euromoney sells Med Ad Inc

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Monday 3 September 2007

Euromoney Institutional Investor PLC ("Euromoney"), which is 61% owned by Daily Mail and General Trust plc announced today that it has completed the sale of its wholly-owned US subsidiary, MedAd Inc ("Med Ad"), to Canon Communications LLC ("Canon").

Canon has paid £6.7 million in cash on completion. A further cash payment will be made, dependent on the performance of the business to the end of August 31, 2007, estimated at £0.5 million. Euromoney expects to recognise an exceptional gain of £5.1 million on the sale of Med Ad in its results for the year to September 30, 2007. The sale of Med Ad is a class 3 transaction for Euromoney under the listing rules. Med Ad had revenues of £4.1 million for the year to September 30, 2006.

Med Ad is a leading provider of marketing and clinical research information to managers and executives in the pharmaceutical industry. The company publishes the market-leading magazines for the pharmaceutical marketing sector.

The disposal of Med Ad is consistent with Euromoney's strategy of streamlining its portfolio of businesses and focusing on subscription-based electronic publishing and data businesses.