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Petersen Companies Announces Completion of EMAP plc Tender Offer

15 January 1999

The Petersen Companies, Inc. Announces the Completion of the EMAP plc Tender Offer 
    NEW YORK, Jan. 15 -- The Petersen Companies, Inc. announced
today that it has completed the tender offer from EMAP plc at $34 per share
pursuant to the tender offer that expired at 12:00 midnight, New York City
time on January 14, 1999.  According to BankBoston, N.A., the depositary for
the tender offer, 26,797,504 shares of Class A Common Stock (including 110,684
shares that have been guaranteed for delivery) and 7,886,290 shares of Class B
Common Stock were validly tendered into the offer and not withdrawn.
    As a result of the tender offer, EMAP Acquisition Corp., a wholly owned
subsidiary of EMAP plc, will own approximately 99.7% of the outstanding shares
of Class A Common Stock and 100% of the outstanding shares of Class B Common
Stock of The Petersen Companies, Inc.  EMAP anticipates prompt consummation of
a merger of EMAP Acquisition Corp. with and into The Petersen Companies, Inc.,
whereby The Petersen Companies, Inc. will become a wholly owned subsidiary of
EMAP.
    The Petersen Companies, Inc. is a leading multimedia marketing solutions
and brand development company, with a diverse portfolio of more than 134
special-interest magazines, television programs, licensing trade shows,
consumer events, databases, custom publishing and retail promotions.  Petersen
publications deliver nearly 87 million readers, including nearly 64 million
adults and over 22 million teens.  Petersen's internationally recognized
magazines include MOTOR TREND, HOT ROD, TEEN, SPORT, SLAM, SURFER, INLINE,
SNOWBOARDER, POWDER, SKATEBOARDER, HUNTING, SKIN DIVER, PHOTOGRAPHIC,
MOTORCYCLIST and 4 WHEEL & OFF-ROAD.  In addition to these titles, Petersen
has more than 100 trade and consumer events including the GRAVITY GAMES, which
is the first in a series to be aired on NBC Network in October 1999.  The
Petersen Companies, Inc. (http://www.petersenco.com) is currently traded on
the New York Stock Exchange under the symbol PTN.