Meredith Corporation Board Declares Dividend

Meredith Corporation Board Declares Dividend

DES MOINES, Iowa, May 9 /PRNewswire-FirstCall/ -- The Meredith Corporation (NYSE:MDP) Board of Directors today declared a dividend of 18-1/2 cents per share, payable on June 15, 2007 to shareholders of record on May 31, 2007. The Company has paid a dividend for 60 consecutive years and has increased its dividend for 14 consecutive years.

ABOUT MEREDITH CORPORATION

Meredith (http://www.meredith.com/) is one of the nation's leading media and marketing companies with businesses centering on magazine and book publishing, television broadcasting, integrated marketing, and interactive media. The Meredith Publishing Group features 25 subscription magazines -- including Better Homes and Gardens, Ladies' Home Journal, Family Circle, Parents, American Baby, Fitness, and More -- and publishes over 200 special interest publications under approximately 80 titles. Meredith owns 14 television stations, including properties in top-25 markets Atlanta, Phoenix, and Portland.

Meredith has more than 400 books in print and has established marketing relationships with some of America's leading companies including The Home Depot, DIRECTV, DaimlerChrysler, Wal-Mart, and Carnival Cruise Lines. Meredith's consumer database, which contains approximately 85 million names, is one of the largest domestic databases among media companies and enables magazine and television advertisers to target marketing campaigns precisely. Additionally, Meredith has an extensive Internet presence that includes more than 30 web sites and strategic alliances with leading Internet destinations. Meredith Hispanic Ventures publishes five Spanish-language titles, making Meredith the leading publisher serving Hispanic women in the United States.

First Call Analyst:
FCMN Contact:

Source: Meredith Corporation

CONTACT: shareholders and analysts, Suku Radia, Chief Financial Officer,
+1-515-284-3603, suku.radia@meredith.com, or media, Art Slusark, Vice
President - Corporate Communications, +1-515-284-3404,
art.slusark@meredith.com, both of Meredith Corporation

Web site: http://www.meredith.com/

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Profile: International Entertainment