Cahners Sells Automotive Properties to Advanstar

    NEW YORK--March 6, 2001--Cahners Business Information, North America's largest provider of business-to-business information and a member of the Reed Elsevier plc group , today announced that it has sold its automotive properties to Boston, MA-based Advanstar Communications.
    As previously announced, Cahners is selling these properties as part of its ongoing effort to focus growth in strategic market sectors. Terms of the transaction were not disclosed.
    The publications included in this sale are Motor Age, Automotive Body Repair News, and Automotive Marketing, as well as their attendant properties.
    This transaction was handled by Jordan Edmiston Group, Inc., a New York City investment bank specializing in the publishing, information, and new media industries.

    About Cahners

    Cahners Business Information (www.cahners.com) is a leading provider of critical information and marketing solutions to business professionals in the media, manufacturing, electronics, construction and retail industries. A member of the Reed Elsevier plc group - a world-leading publisher and information provider with principal operations in North America and Europe - Cahners' market-leading properties include more than 135 b-to-b publications, and over 125 Webzines and Web portals. Cahners also offers online services, custom publishing, directories, research and direct-marketing lists.

    About Advanstar

    Advanstar Communications Inc. is a worldwide business information company serving specialized markets with high-quality information resources and integrated marketing solutions. Advanstar has 106 top business and professional publications, 108 exhibitions and conferences, 79 Web sites, and a wide range of direct marketing, database and reference products and services. Advanstar serves targeted market sectors in such industries as telecommunications, CRM/call center, e-commerce, retail, travel, hospitality, beauty, fashion, healthcare, pharmaceutical, manufacturing and processing. The company has more than 1,400 employees and currently operates from multiple offices North America, Latin America, Europe and Asia. For more information on Advanstar Communications, visit www.advanstar.com.