US magazines Cruising World and Sailing World sold

by Sailing World & Cruising World Publications on 18 Jul 2002 Terry Snow, CEO of World Publications, announced today that his company
has finalized the purchase of Cruising World and Sailing World magazines
from Miller Publishing Group. Included in the transaction are the rights to the
sports marketing events the magazines produce, including the National
Offshore One Design (NOOD) Regattas, the largest sailing regatta series in
the United States.

'Cruising World and Sailing World are the leading magazines in their field,
and I’m thrilled to include them in our family of titles,' says Snow, whose
company publishes 12 award-winning special-interest magazines, including
Caribbean Travel & Life, Saveur, Garden Design, Sport Diver, Sport Fishing
and Marlin. 'The sailing community is very similar to those of our other
niche water-sports properties,' he adds. 'Sailors are an affluent audience,
and they actively pursue their passions as often as they can. Cruising World
and Sailing World will be a perfect complement to our existing base, offering
many advertising synergies.'

All editorial, sales and marketing staffs of Cruising World and Sailing World,
including publisher Sally Helme, Cruising World editor Herb McCormick and
Sailing World editor John Burnham, will remain with the magazines, which will
continue to be headquartered in Newport, Rhode Island. Back-office
operations, including accounting and circulation, will be integrated into
World’s corporate operations in Winter Park, Florida.

Cruising World is published monthly with a circulation of 155,000. Sailing
World, published 10 times a year, has a circulation of 55,000.

Cruising World explores the world’s oceans, bays, lakes and rivers under
sail. It provides timely information for sailors united by their love of cruising
whether they own a small trailer-sailer or a large oceangoing yacht. Articles
cover a variety of topics, from destination overviews to more technical
subjects such as rigging and celestial navigation.
For more than 40 years, Sailing World has been the main source of news
and information on sailboat racing at every level, from the America’s Cup
and the Olympics to regattas, college racing and rankings. The magazine is
also well-known for its focus on racing sailors and has been a fertile ground
for new ideas in every area of the sport, from design and rules to rigging
and electronics.

On the event side, the NOOD Regattas is the largest, most popular regatta
series in the United States. Founded in 1988, NOOD provides marketers with
a sailing sponsorship opportunity second only to the America’s Cup. This
year, the fleets of equally matched sailboats will race in nine events around
the country, delivering national impact.

Miller Publishing Group, L.L.C, formed in 1997 under the guidance of Robert
Miller, is the parent company of Miller Sports Group, L.L.C. Affiliated titles
include Tennis, Vibe, Spin and Where magazines. Miller Sports Group,
L.L.C., was represented by The Jordan, Edmiston Group, Inc., a New York
City based investment bank that specializes in the publishing, information,
Internet and exposition industries.

Headquartered in Winter Park, Florida, and with offices in New York, World
Publications is a leading producer of special-interest media and
entertainment. Employing more than 200 people, World publishes 12
special-interest magazines: Saveur, Garden Design, Caribbean Travel & Life,
Boating Life, WaterSki, Sport Fishing, Sport Diver, Fly Fishing in Salt Waters,
Kite Boarding, Marlin, Wind Surfing and Wake Boarding.