Penton to buy Duke - News400 magazine (fwd)

Hi! Thought you might find this interesting. Sounds like Penton wants to
resurrect another midrange trade show. Hellena

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Penton Media to Acquire Duke Communications, Leading Technology Media
Company

August 31, 2000 12:00am
Source: Business Wire



CLEVELAND--(BUSINESS WIRE) via NewsEdge Corporation -- Penton Media, Inc.
(NYSE:PME) today announced it has entered into a definitive agreement to
acquire Duke Communications International, a leading integrated media
company serving the AS/400 and Windows 2000 operating systems markets, and
other technology operating platform markets. The acquisition is subject to
regulatory approval.

Duke Communications (www.duke.com) publishes five magazines in the United
States, and one title in the United Kingdom, including flagships Windows
2000 Magazine, NEWS/400 and Business Finance. Duke has built upon its
respected magazine franchise with a significant Internet media portfolio,
which is expected to generate about 20% of Duke's 2000 revenues. Based in
Loveland, Colorado, Duke was founded in 1982 and has approximately 300
employees.

"Duke Communications is an outstanding addition to Penton Media's existing
technology media portfolio, which includes the global Internet World
franchise," said Penton Media Chief Executive Officer Thomas L. Kemp. "Duke
is one of the fastest growing technology B2B media companies in the United
States and holds strong leadership positions in each of its target markets.
It has been particularly successful in leveraging its brands and respected,
authoritative content to build a successful Internet business."

Duke has recorded strong growth rates in recent years. Kemp noted that
Duke's management team has been highly successful in identifying emerging,
fast-growth technology market segments and launching leading media products
to serve their needs. "We look forward to combining our companies and
providing resources to fuel Duke's growth and development," Kemp said.

Kemp said that Penton plans to leverage Duke's globally respected brands
into a larger in-person media offering. "We envision applying Penton's deep
experience in producing technology-related trade shows, such as our global
Internet World trade show portfolio, to expand Duke's current event
business," he said.

Kemp added that Duke's platform in England will accelerate Penton's
international growth strategy. "International technology markets represent
major growth opportunities for the Company, and we are moving forward
aggressively to achieve leadership positions in key global markets," he
said.

Kemp said that Penton and Duke have key operational synergies, anchored by
similar business cultures. "Led by Dave Duke, the company's founder and
president, Duke Communications has emerged as a leader in its field by
prioritizing value creation for its customers and by managing its business
with a market-focused orientation. Its entrepreneurial, highly-energized
and creative environment aligns perfectly with Penton's operating
environment and our goals for the Company."

"Joining Penton Media is a great step forward for Duke Communications,"
said CEO Dave Duke. "Penton has a terrific management team, an outstanding
array of leading publications, and a culture consistent with our own. We
consider ourselves fortunate to be joining Penton, given its strengths in
print, electronic publishing, and trade shows and conferences. We hope to
become an important part of Penton."

Penton expects to complete its acquisition of Duke Communications by the
end of September. Kemp said Duke's current management will remain and that
they will continue to operate from Loveland. Duke will become part of
Penton's Advanced Technology Media division.

Duke Communications is being represented in the transaction by The Jordan,
Edmiston Group. Penton is being represented by Donaldson, Lufkin &
Jenrette.

About the Duke Communications Portfolio

Windows 2000 Group -- This major operating group includes one of the most
powerful I.T. information brands, Windows 2000 Magazine and its associated
online network (www.win2000mag.net). The magazine is published 14 times a
year with a paid circulation of about 130,000. The group also publishes the
monthly SQL Server Magazine, which has a total circulation of 30,000. The
magazine serves readers involved in the use of SQL servers as a business
application and development platform. Additionally, the Windows 2000 Group
includes 15 Web sites that generate about 8 million impressions monthly,
and 17 e-mail newsletters with more than 3.5 million e-mails sent per
month.

AS400 Network -- This information network's core product is the AS/400
market's most respected media brand, NEWS/400 magazine. It is published 14
times a year to about 20,000 paid subscribers. The Network also includes:
nine international editions of NEWS/400; Selling AS/400 Solutions, a
distribution and sales channel magazine published bimonthly, with a
circulation of 12,500; the AS400 online network (www.as400network.com),
which generates more than 1 million impressions monthly; six e-mail
newsletters with more than 600,000 e-mails sent per month; a conference
series; and books.

Business Finance Group -- This group's key property is Business Finance
magazine, published monthly, with a controlled circulation of 50,000.
Business Finance provides financial executives with information on changing
technology and economic trends, and explores the implications of these
trends on readers' business practices and career development. The magazine
has a companion Web site (www.businessfinancemag.com) and nine electronic
newsletters.

Duke Communications Europe -- This wholly owned business in Manchester,
England, sells subscriptions and advertising for Duke's U.S. media products
and local-market products throughout Europe. Local products include
NEWS/400.uk magazine and its online network (www.as400network.com/uk).
Translated versions of NEWS/400 and Windows 2000 Magazine are published
under license in 12 countries.

About Penton Media

Penton Media is a leading diversified business media company that produces
market-focused magazines, Web sites, trade shows, and conferences. Penton's
integrated media portfolio serves the following market sectors:
Internet/broadband; natural products/food/retail; manufacturing;
electronics; design/engineering; management; supply chain/aviation;
government/compliance; mechanical systems/construction; and
leisure/hospitality.

Statements in this document that are not historical in nature are
forward-looking statements. Although Penton believes that its expectations
are based upon reasonable assumptions within the bounds of its knowledge of
its business, there can be no assurance that the Company's financial goals
will be realized. Numerous factors may affect the Company's actual results
and may cause results to differ materially from those expressed in
forward-looking statements made by or on behalf of the Company. Certain of
such factors are detailed in reports filed with the Securities and Exchange
Commission. Other factors include, without limitation, the receptivity of
the Company's Internet businesses by its customers and the ability of the
Company to execute its Internet strategy.





<<Business Wire, 08-30-00, 18:07 Eastern>>

CONTACT: Penton Media | Mary Abood, 216/931-9551 | mabood@penton.com | or |
Duke Communications | Dave Duke, 970/663-4700 | dduke@duke.com



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___________________________________
Hellena Smejda, WordsWorth International
Tel: 815/736-9902, fax -9903
hsmejda@interaccess.com
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