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Turnover Operating profit* Earnings per share* Net cash

Key Financials Twelve months to 31 December. 2001. 2000. £930.5m £81.1m 18.1p £49.3m. £1,049.3m £161.4m 27.4p £1,553.0m. Turnover Operating profit* Earnings per share* Net cash . * Before exceptionals and amortisation of goodwill. 2001 Review. Very tough trading

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Turnover Operating profit* Earnings per share* Net cash

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  1. Key Financials Twelve months to 31 December 2001 2000 £930.5m £81.1m 18.1p £49.3m £1,049.3m £161.4m 27.4p £1,553.0m • Turnover • Operating profit* • Earnings per share* • Net cash * Before exceptionals and amortisation of goodwill

  2. 2001 Review • Very tough trading • CMP Media EBIT down from £101m to £11m • Resilience of PRN & NOPW • Market share gains across key businesses • £110m full year cost reduction over 2000 • 1,400 staff reduction in 2001 • Leveraged for the upturn • Strong balance sheet and cash position • £1.25 billion returned • £370m goodwill impairment • £130m of acquisitions

  3. 2001 Divisional Trading • NOPW: resilient but H2 weakness in UK • PRN: lower volumes but increasing revenue per message • CMP Media: • Market share up to 28% • Ad page volumes, market down 35%, CMP down 26% • Revenue running at down 40% since September • CMP Asia: strong performance, revenue & profit ahead • CMP Information: radical restructuring to boost performance

  4. Progress on Strategy • Focus on core professional and business markets • Build market share • Maximise growth potential through investment in innovation and acquisitions • Focus on value

  5. 2002 Outlook • NOP World order book ahead • UK recovering from difficult Q3 • US continued growth - healthcare • PR Newswire • Gradual recovery since September, regulatory strong • £5m invested in evaluation products & European network • CMP Media • Planning on revenue 40% down on 2000 • No recovery yet: managing cost / revenue balance • CMP Asia • 2002 consolidation, building growth potential • CMP Information • Cost restructuring leading to recovery

  6. FINANCIAL REVIEW

  7. Financial Results Twelve months to 31 December Change % 2001 2000 Continuing turnover (£m) Continuing operating profit* (£m) Discontinued operating profit* (£m) Total operating profit* (£m) Interest (£m) PBT * (£m) EPS * (p) Dividend per share (p) 930.5 81.1 (20.1) 61.0 35.8 96.8 18.1 12.0 1,049.3 161.4 77.3 238.7 (43.0) 195.7 27.4 22.2 (11.3) (49.8) - (74.4) - (50.5) (33.9) (45.9) 8 *before exceptionals and amortisation of intangibles

  8. ExceptionalsTwelve Months to 31 December 2001 £m’s (370.0) (64.8) (51.5) (14.1) 500.4 Impairment of goodwill – professional media Restructuring charges (mainly property)Provisions for losses on closures and disposals Other, including acquisition integration costs Total 9

  9. CashflowTwelve Months to 31 December 2001 £m’s Opening cash Operating profit Less return of capital Acquisitions Channel 5 Interest received Capex Depreciation Dividend paid Tax paid Other Closing cash 1,553.0 61.0 (1,225.9) (131.8) (71.4) 23.6 (27.7) 23.3 (93.2) (4.1) (57.5) 49.3 Cash conversion 100% 10

  10. Balance Sheet31 December 2001 £m Goodwill Investments (Ch 5, SIS, SDN, ITN, PA) Net Cash Other net liabilities Net assets 736.8 171.5 49.3 (343.6) 614.0 11

  11. Segmental AnalysisTwelve months to 31 December Operating Profit Group Turnover 2001 £m Change % 2001 £m Change % Underlying % Underlying % Market Research News Distribution Professional Media Business Services Consumer Media Online Total Continuing Discontinued 194.9 125.5 533.0 853.4 56.9 20.2 930.5 2.0 20.2 3.2 (20.1) (10.2) (6.3) (47.0) (11.3) 3.2 (2.3) (23.3) (16.0) (6.3) (48.9) (16.7) 23.8 35.1 32.2 91.1 11.1 (21.1) 81.1 (20.1) 5.3 (13.8) (74.0) (51.4) (3.1) 43.6 (49.8) (3.7) (15.6) (76.3) (54.2) (3.1) 45.5 (52.7) 12

  12. UBM by GeographyTwelve months to 31 December 2001 Turnover Operating Profit Asia 5% Europe 3% US 67% US 62% Asia 13% Europe 10% UK 25% UK 15% 13

  13. Financial Objectives • Net debt capacity around £400m • Minimum interest cover of 5 times • Acquisition financial criteria • Cost of capital 8% • Generally EPS enhancing first full year • Investment targets • Exhibitions - break even in year 2 • Organic - 2 to 4 year payback 14 United Business Media

  14. Financial Objectives • Margins: specific targets set for each division • Cash conversion target of 100% • Prudent financial policies • FRS 17 (Pensions):implementation planned for 2002 • Estimated balance sheet impact c£40m • FRS 18 (Accounting Policies): implemented 2001 • Conservative revenue recognition • FRS 19 (Deferred Tax): implementation planned for 2002 • £5m write up in value 15 United Business Media

  15. OPERATIONAL REVIEW

  16. Operational Objectives Margin Targets 14% / 15% • Improve margins • Gain market share • Invest in innovation • Deliver synergies across the group • Re-engineering • Shared services • New products Towards 10% 8.7% Medium Term 2001 2002 17

  17. Volvo Ford Glaxo Smith Kline AOL Time Warner British Telecom Compaq F. Hoffmann-La Roche Visa International

  18. 2001 £m 2000 £m Change % Underlying % Turnover US RoW 117.2 77.7 194.9 19.8 4.0 23.8 12.2 92.7 69.4 162.1 15.6 7.0 22.6 13.9 26.4 12.0 20.2 26.9 (42.9) 5.3 1.4 5.6 3.2 10.3 (34.3) (3.7) Operating profit US RoW Margins Market ResearchTwelve months to 31 December 19 Target over 12% in 2002

  19. NOP WorldKey trends during 2001 • Strength in • Companies: MRI, ASW (profit level), MMI + SMC • Business areas: Healthcare, Financial, Syndicated • Pressure on • Companies: ASW (topline), NOP Research (UK) • Sectors: Technology, Consumer, Automotive, Ad Hoc • Trends • Strong H1, hard hit Q3, rebound Q4

  20. Market Research MarginsComparison with NOP World Company ACNielsen IMS Health Kantar Group TNS GFK IPSOS NOP World EBIT Margins 2000 10.1% 23.0% 10.9% 9.3% 7.3% 7.3% 12.2% 2001 EBIT Margin

  21. AcquisitionsRoper Starch, Allison-Fisher & Cozint • Smooth integration, are performing well • Costs being taken out of RoperASW overlaps • Revenue synergies beginning to flow • New products • Co-ordinated sales programme

  22. Bank of America Dupont Pfizer Walmart Johnson & Johnson Microsoft Sun Microsystems Oracle Ford General Motors

  23. PRN Strategy - The Way Ahead Serve the total communication cycle of our core markets Keys to Success Global Reach Product Innovation Service Quality Through Target Distribute Evaluate OVER 40,000 Clients

  24. News DistributionTwelve months to 31 December 2001 £m 2000 £m Change % Underlying % Turnover US RoW 110.6 14.9 125.5 34.7 0.4 35.1 28.0 106.9 14.7 121.6 35.3 5.4 40.7 33.5 3.4 1.6 3.2 (1.7) (92.6) (13.8) (2.1) (3.9) (2.3) (6.6) (77.8) (15.6) Operating profit US RoW Margins % US Margin target over 30% in 2002 25

  25. News DistributionKey trends during 2001 • Market share • over 60% of Fortune 500 • US message volume down 14% • Underlying growth in disclosure releases • US revenue per message up 6% • Evaluation products • now 16% (13%) of US revenue

  26. News Distribution Long Term US Trends No of Messages $ Average message growth rate 10% Revenue per message

  27. News Distribution European opportunities • Deregulation in London • PRN Disclose starts April 2nd • PRN in France, Spain and Holland • Cyperus • ANP • EU proposals • greater transparency + uniform disclosure standards

  28. Innovations

  29. Novartis Eli Lilly Computer Associates AstraZeneca Dell Sony Microsoft IBM Compaq Hewlett Packard/Taylor

  30. Professional MediaTwelve months to 31 December 2001 £m 2000 £m Change % Underlying % Turnover CMPMedia CMP Asia CMP Information Total 495.6 40.7 130.5 666.8 101.4 13.9 8.7 124.0 353.3 48.9 130.8 533.0 10.8 14.6 6.8 32.2 (28.7) 20.1 0.2 (20.1) (89.3) 5.0 (21.8) (74.0) (31.9) 17.1 (0.1) (23.3) (89.3) 11.8 (36.4) (76.3) Operating Profit CMP Media CMP Asia CMP Information Total Post online margin 2.2% (13.0%). Normal Target Margins 14% / 15% 31

  31. Very strong year Acquisition of KSS 6 launches planned in 2002 Year of radical restructuring Resilient exhibitions 2002 margin benefitfrom cost programme CMP Asia CMP Information

  32. CMP – High Tech Monthly Market Share Analysis By Ad Page Volumes 32.0%CMP 11.4% IDG 10.8% Cahners 9.6% Ziff 5.4% Penton Jan 02 1/00 12/00 33 Source: IMS/Auditor

  33. CMP Media Monitoring key indicators Profitability of High Tech Corporates High Tech Capex Semiconductors High Tech Capex and CMP Revenue 34 Source: CMP, Broker Research

  34. Operating Cost Reductions Saved against 2000 Operating Costs 2001 Further Savings in 2002 COSTS £M CMP Media / CMPi PR Newswire Total 53 8 61 503 92 595 42 7 49

  35. United Business MediaStrategic Priorities • Competitive and effective cost base • Market share gains, aiming for leadership • Build market research and information revenues • Cautiously acquire companies with good strategic fit • Invest in innovation • build on sector strengths • Develop insight and evaluation products

  36. Supplementary Slides

  37. UBM Revenue TypeContinuing turnover - twelve months to 31 December 2001 2000 17 51 Other Ad’ 59 Other Ad’ 16 32 Non Advertising Non Advertising High Tech Ad’ High Tech Ad’ 25 High Tech Advertising = 8% profits (2001) was 30% in 2000 38

  38. Market Research Sector by % of 2001 Turnover Other Field Marketing Healthcare Consumer Automotive Media Business IT

  39. PR Newswire - Service Continuum Target Sources Sources (News Releases) Distribute Destinations Evaluate Corporations Government Associations PR/IR Agencies Expert Sources • Satellite • Internet • FAX • E-mail • Archiving • Microsites • CNOC • VIQ • Databases • WAP/PDA’s • Multimedia • VNR’s • Digital Photos • Conference Calls on the Web • Streaming Video • News Media • Financial Markets • Investors • General Public • (Consumers) • Internet (eWatch) • Electronic • Clipping • E-Commerce • Market Intelligence • Usage Tracking • Sentiment Analysis • Measure (Tbutton) • - quantitative • --qualitative News ReleasesIndustry PublicationsGlobal Media DataIR Data Who’s using the information and for what purposes? Evaluate IR/PR programs Seek Consumer Information 40

  40. US High Tech CompaniesQuarterly Earnings 2001 – EPS Growth Brokers Summary

  41. Semiconductor Worldwide MarketThree Month Moving Average

  42. CMP Media US Revenues2000 restated to exclude ALL closures 2001 $m 2000 $m As reported Titles and events closed Continuing revenues 501 (43) 458 741 (88) 653

  43. Investments Ownership % Business Channel 5 35 Free to air T.V. with RTL (65%) ITN 20 National provider of news to ITV SIS 20 Internet / Horse Racing SDN 33 Digital terrestrial television/multiplex Paperloop38 Pulp & Paper JV Press Association 17 News Service 44

  44. A leading global provider of market information to high growth markets.

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