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VS&A Communications Partners III, LP Announces New Management Team at Phillips Business Information

Longtime Miller Freeman Executive Don Pazour Named CEO of PBI

NEW YORK --November 16, 2000-- VS&A Communications Partners III, L.P., the $1 billion private equity affiliate of media merchant bank Veronis Suhler, has appointed a new management team at its recently acquired Phillips Business Information, Inc. (PBI), the leading business publisher and trade show operator based in Potomac, MD.

Joining as Chief Executive Officer at Phillips is Donald A. Pazour, former President and CEO of Miller Freeman in New York. For the past 22 years, Mr. Pazour oversaw trade show operations and other media properties and start-ups at Miller Freeman. He was responsible for the growth of Miller Freeman's high-tech properties from a single magazine launch in 1983 to becoming the fourth largest high-tech publishing company in the world.

"I look forward to joining PBI's wonderful team of talented professionals in Potomac," Mr. Pazour said. "With their outstanding products and clear vision of the markets they serve, Phillips Business Information and VS&A Communications Partners can expect nothing less than continued growth and greater success from this outstanding group in the months ahead."

Jeffrey Stevenson, President & Managing General Partner, VS&A Communications Partners III, LP, called Mr. Pazour "one of the true all-stars of business publishing and information. Don brings a brilliant track record from his long career at Miller Freeman. We feel very fortunate to have him at the helm of Phillips as the company charts its next stage of growth across a number of new media and industry segments beyond those already served by the PBI." Mr. Stevenson said that PBI could make acquisitions of other B2B properties.

PBI is a full service B2B media company engaged in trade magazine publishing, business information services, and conferences and trade shows. The company is expected to generate more than $110 million in revenues in 2000. PBI's markets include media and communications, cable television, satellite, aviation, defense and energy. Its information products include daily news services and web sites, magazines and newsletters, as well as market studies, conferences and consulting. Key products and titles include RepliTech, AV Video & Multimedia Producer, Media Industry News, Via Satellite, Communications Technology, Rotor & Wing, and Defense Daily - in all cases covering published content and web sites, as well as trade shows.

Leading Mr. Pazour's management team as President and Chief Operations Officer is Roscoe C. Smith III. For the past five years, Mr. Smith has served as Senior Vice President, PBI and President of Knowledge Industry Publications, Inc., a Phillips subsidiary. Mr. Smith joined Phillips in 1995 with more than 24 years of magazine and newspaper publishing experience, including senior management positions at McGraw-Hill, CMP and Communications/Today. Market group leaders from the telecommunications, satellite, cable and aerospace groups will report to Mr. Smith, who will continue his responsibilities for KIPI media group.

John L. Nolan, Chief Financial Officer, COO and Vice Chairman of KIPI since 1993, serves as Executive Vice President, Business Development and Finance, where he will oversee all acquisitions, strategic planning, finance and accounting. Prior to joining KIPI, he served for four years at International Thomson and 10 years at Conde Nast.

Christopher Scotton, Executive Vice President, PBI and President of The Phillips Group, will continue as head of Phillips Business Information, Ltd. Mr. Scotton joined PBI in 1988 and has been responsible for European operations of the company since February 1994, when PBI's offices opened in the UK.

Paul McPherson will continue to serve as Senior Vice President, Aerospace Group. Mr. McPherson joined PBI's Magazine Group as Publisher of Avionics and Rotor & Wing magazines in March 1998. Continuing under his leadership, the PBI Aerospace Group includes aviation and defense products as well as PBI's satellite and space

groups/products. Alan Mendelson, President of Phillips InfoTech, continues to manage the business development and operations leadership of worldwide information services involving management consulting, market research and analysis and database services. Mr. Mendelson served for 18 years at AT&T prior to joining Phillips InfoTech.

Phillips Business Information, Inc. is the latest acquisition by VS&A Communications Partners III, LP, one of the largest private equity funds exclusively dedicated to making investments in the media, communications, and information industries. VS&A Communications Partners' first two funds invested approximately $400 million in 18 growth-oriented portfolio companies and 90 add-on acquisitions since 1987.

For more information on VS&A Communications Partners, its Fund III portfolio companies (HCIA-SACHS, Hanley-Wood, Data Transmission Network), and its investment criteria, visit www.vss.com. For information on Phillips International, Inc., its markets and its products, visit www.phillips.com.

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