Press release

G+J Reorganizes Corporate and Publishing Services Unit under CFO Achim Twardy

Hamburg, 13 January 2005 –

After absorbing the CorporateDevelopment/Strategy unit (which through the end of 2004 wassupervised by executive board member Martin Stahel), thecorporate unit headed by CFO Achim Twardy will be knownas "Corporate and Publishing Services." Its new combinedstructure will be as follows:

Konrad Zinke heads the Corporate Development/Strategy department.

Andreas Dietrich is in charge of the Finance department (includingCorporate Finance and Accounting), while Tilmann Kruse is in chargeof Legal. Dr. Günter Maschke heads the HR department (Basic Mattersand HR Germany), while Dr. Jürgen Althans is responsible forHR development. Oliver Radtke supervises the IT department (BasicMatters and Operational IT), and Peter Klotz is in charge ofInternal Administration (Property/Building Management and OfficeServices). Jack Seifert will head the paper procurement department.

Thomas Düffert will take on the supervision of the Newspapersdivision and coordinate the activities of the FINANCIAL TIMES DEUTSCHLAND(Managing Directors Christoph Rüth and Christoph Weger) and the"Sächsische Zeitung"/"Morgenpost Sachsen" (Dresdner Druck- andVerlagshaus, Managing Director Mario Frank).

Achim Twardy, CFO and head of the Corporate and Publishing Servicesunit, declared: "The divisions in the Corporate and PublishingServices unit are managed by executives who stand for continuity,flexibility and speed as well as for professional competence.I look forward to working with this team. We will providecustomer-focused services in line with the market and withtransparent cost and earnings structures for our publishers,throughout the service chain. In all basic matters, we will poolour expertise pertaining to the topic or project in question andwill advance our business in collaboration with the people incharge of the respective titles or countries."

For further information:

Kurt Otto
G+J Press Spokesman
Gruner + Jahr AG & Co KG
Am Baumwall 11
D-20459 Hamburg
Phone: +49-40-3703-3810
Fax: +49-40-3703-5688
E-Mail: otto.kurtguj.de

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Achim Twardy
Member of the Gruner + Jahr Executive Board
Hamburg