Industry News

White Plains, NY and Providence, RI – August 23, 2011 – George Little Management (“GLM”) and Providence Equity Partners (“Providence”) today announced that GLM and affiliates of Providence have signed a definitive merger agreement under which affiliates of Providence will acquire GLM from Daily Mail and General Trust plc (LSE: DMGT.L) for approximately $173 million in cash.

GLM creates face-to-face and online buying, selling and networking platforms for designers, product developers, manufacturers, reps, retailers and operators through tradeshow and event production, online community development and association management. GLM currently produces 15 tradeshows, serving industries as diverse as giftware, home furnishings, social stationery, home textiles, tabletop, gourmet housewares, contemporary furniture, personal care, art & design, antique jewelry, beach, board sports, fashion and hospitality. Annually, these events showcase approximately 11,000 exhibitors in 1.8 million net square feet of exhibit space, and attract approximately 150,000 attendees.

Providence will purchase GLM through a new holding company led by Charles G. McCurdy, who most recently served as Chief Executive Officer of Canon Communications, a leading producer of trade shows, publications, and digital and data services. In five years under Mr. McCurdy’s management, Canon doubled in size, expanding its trade shows into 10 countries and developing a significant suite of digital and data services.

“GLM has a proven track record in exceeding the expectations of exhibitors and attendees with high-quality, customer-focused events,” stated Michael J. Dominguez, a Managing Director at Providence. “We believe there are significant opportunities to grow GLM’s tradeshow brands in the U.S. and internationally both organically and through acquisition, as well as to develop exciting new digital and data services. The company already has a talented senior management team. This will be further strengthened with additional direction from Charlie, who has more than 30 years of experience in managing and investing in niche media, information and education companies.”

Mr. McCurdy said, “I’m thrilled to partner with Providence as it acquires this top tier, world-class company. GLM’s presence in the growing business-to-retailer space has few rivals in the international tradeshow industry. With the help of Providence and the dedicated GLM team, we will seek to take GLM to the next level while identifying additional opportunities to expand our platform in the dynamic tradeshow space.”

Alan E. Steel, President of GLM, commented, “This is a compelling transaction that will allow GLM to benefit from the additional resources and expertise provided by Providence as we seek to further expand our product offerings and accelerate growth. We look forward to working with Charlie and Providence in the future.”

The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close by the end of September 2011.

The Jordan, Edmiston Group, Inc. acted as financial advisor to Daily Mail and General Trust plc in connection with the transaction. Weil, Gotshal & Manges LLP served as legal counsel to Providence in connection with the transaction.

About Providence Equity Partners
Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, communications, information services and education companies around the world. The principals of Providence manage funds with over $23 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm’s inception in 1989. Significant existing and prior investments include Altegrity, Archipelago Learning, Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Hulu, ikaSystems Corporation, Idea Cellular, Kabel Deutschland, NexTag, PanAmSat, ProSiebenSat.1, TDC, Univision, VoiceStream Wireless, Warner Music Group, and Yankees Entertainment and Sports Network. Providence is headquartered in Providence, RI (USA) and has offices in New York, London, Los Angeles, Hong Kong and New Delhi. Visit www.provequity.com for more information.

Forward-Looking Statements
Any statements in this press release about future expectations, plans and prospects for GLM and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements are subject to significant, known and unknown business, economic, and competitive risks and uncertainties, many of which are beyond GLM’s control or are subject to change, and which could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: the ability of the parties to consummate the proposed merger in a timely manner or at all; the satisfaction of conditions precedent to consummation of the merger, including the ability to secure regulatory approvals; and successful completion of anticipated financing arrangements. In addition, the forward-looking statements included in this press release represent estimates, projections, assumptions and views as of the date of this release. Management anticipates that subsequent events and developments will cause these views to change. Other factors not currently anticipated by management may also materially and adversely affect the closing of the transaction described in this press release. GLM does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.