Surprising New Findings Surface From Amalgamated Publishers, Inc.'s Historic Study of Black Newspaper Readers

NEW YORK, May 24, 2004 -- Readers of Black newspapers have the highest confidence level in the American economy of any consumer or ethnic group in the country. "This is one of the most surprising facts to come out of the API Black Newspaper Readership Study," said Art Spinella, President of CNW Marketing Research, Inc., the research company that designed and conducted the study. "We have compiled a confidence level index for the Federal Reserve Board for over 10 years but this is the first time readers of Black newspapers have ever been identified separately from the African American population as a whole." To validate this, we went back into historical data and found that readers of Black newspapers consistently had a more optimistic view of the economy that any other group"

                Consumer Confidence Index - April 30, 2004

      All U.S. Consumers                                            138
      All African American Consumers                                110
      African American Readers of Black Newspapers                  149
      All Hispanic Consumers                                        122
      Hispanic Readers of Hispanic Newspapers                       142

Dorothy Leavell, Chairman of Amalgamated Publishers, Inc. commented "this means that our readers are less likely to postpone major purchases such as automobiles, homes, etc. They are optimistic about the economy and have confidence in where the country is headed despite the bleak predictions of many authorities. Our readers have always been strong believers in America's future which is one reason they do not hesitate to purchase what they want when they see it."

Amalgamated Publishers, Inc. is the nation's oldest media placement firm representing leading Black newspapers from coast to coast. Its 43-years of experience dealing exclusively with Black newspapers, its proprietary databases and its exclusive "added value" programs have made it the preeminent authority on reaching and motivating the African American consumer.