United Business Media: Pre-Close Season Update*

United Business Media: Pre-Close Season Update*

2005 First Half Trading

Overall on Track, Trends Noted at AGM Continue

LONDON, June 21/PRNewswire-FirstCall/ --

GROUP SUMMARY

Revenues and profits are in line with the trends UBM (LSE: UBM) indicated at the time of the Annual General Meeting in May.

UBM continues to achieve good revenue growth in its important exhibition business, and in its online operations; US news distribution is also showing solid revenue growth; however, as noted previously, print continues to face significant challenges.

OPERATING HIGHLIGHTS OF THE FIRST HALF OF 2005

CMPi / UAP

Overall performance at CMP Information remains on track with its expectations, CMPi is delivering steady positive growth on the prior year. Revenue trends in May improved on March and April. The 2005 new product development programme continues apace. Exchange & Mart trading continues to reflect the trends noted at the AGM. The Publican and other related licensed trade assets - acquired in 2005 - have now been integrated into UAP and are performing in line with business case.

CMP Asia

CMP Asia has again achieved good overall progress with strong performance from the major Hong Kong Jewellery Fairs in June. CMP Asia is exploring the good growth opportunities in a wide range of Asian markets and has continued with its extensive programme of brand extensions and new product launches, in particular in China and Japan.

CMPMedica

CMPMedica is performing broadly on track, with the core Drug Information Systems products performing in line with expectations in Europe but with general softness in the existing trade press businesses and across the Asia/Pacific operations. The integration of the 2005 acquisition of new medical trade press titles in France is underway and that new business is performing in line with business case.

CMP Media

CMP Media is performing in line with the trends noted at UBM's Annual General Meeting in May, with strength in events and online, and print ad page volumes down. In Medical education, single sponsor events improved somewhat in the first half but most of the major multi sponsor events have now been deferred by customers to the second half of the year

The US Entertainments business - formerly part of CMPi and now being integrated into CMP Media - performed well.

Across CMP Media the 2005 programme of investment in new products is now well underway.

PR Newswire

In the first half of 2005, PR Newswire is in line to achieve its three main objectives, a strong performance from its core US messaging business, good progress from the ongoing development of its product range and a ten per cent operating margin in the Rest of the World.

OPERATING EFFICIENCIES

The group is moving ahead with the implementation of the next phase of a major programme of offshoring and outsourcing - these remain on track to improve operating margins over the next two years.

FIXED ASSET INVESTMENT

Five continues to perform well, delivering year on year increases in its share of advertising and its share of audience, and growing its operating profits.

FINANCING

During the first half of 2005 UBM completed a GBP325m refinancing at 32.5 basis points over LIBOR. This replaces a GBP500m facility at 45.0 basis points above LIBOR.

During the first half of 2005 UBM purchased for cancellation 250,000 of its ordinary shares at 519.94p per ordinary share.

RESTATED PRIOR PERIOD RESULTS

By the end of June UBM intends to publish its full year and interim 2004 results restated for the effects of IFRS and also on the basis of the new segmental layout of UBM's operating divisions - eg reflecting the recent reorganisations. An indication of the effects of IFRS on the 2004 financial results was provided in February 2005 - it is not anticipated that the formal audited restatement of the 2004 results will be materially different from that early indication.

*UBM is scheduled to announce its interim results for 2005 on 27 July 2005. This announcement is the routine update prior to entering the July close season associated with the interim results

This press release includes statements which are not historical facts and are considered "forward-looking" within the meaning of Section 27 of the Securities Act of 1933, as amended. These forward-looking statements reflect UBM's current views about future events, business and growth strategy and financial performance. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from UBM's expectations. UBM expressly does not undertake any duty to update forward-looking statements. Management does not attempt to update forecasts unless conditions materially change.

Source: United Business Media Plc

For United Business Media enquiries: Michael Waring, United Business Media, Tel: +44-20-7921-5031, Colin Browne, The Maitland Consultancy, Tel: +44-20-7379-5151

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