Press release

G+J Bundles Eastern European Publishing Business In Warsaw

Hamburg, 29 January 2006 –

G+J´s International Magazines division is bundling Gruner + Jahr´s publishing businesses in Central Eastern and South Eastern Europe. Based in Warsaw, Mario Husten will manage the publishing activities in the region, including Poland and Russia, as President Central Eastern Europe as of February 2006. After establishing joint ventures in Greece and the Adriatic region and the launch of the international edition of "Geo," the new management structure creates the precondition for further growth, according to Gruner + Jahr. The goal is to enter new markets;#151;also through partnerships and acquisitions;#151;in addition to the expansion of the international concept and brand transfer.

Mario Husten will continue to be in charge of the development of new markets in his position as Executive Vice President. The trained FAZ business journalist joined G+J in 1994 as an assistant to the management board; in 1996 he took over the management of the Slovak newspaper "Novy Cas." Starting 1998 he headed the entire international newspaper business of G+J (Slovakia, Hungary, Romania, and Serbia), and joined the G+J magazine division International in the beginning of 2004 as Executive Vice President. Michael Voß will support Husten as CFO in addition to his function as Managing Director of the Greece G+J subsidiary Daphne. Torsten-Jörn Klein, G+J Executive Board member in charge of International Magazines, commented: "Bundling our publishing activities in Central and Eastern Europe underscores the importance of this region for G+J´s growth strategy. Mario Husten´s change to Warsaw documents the success and importance of G+J´s activities in Poland."

In addition, there will be change at the top of G+J Russia: the former Director of the FAZ book publisher, Christina Eibl, succeeds Olaf Hengerer as Managing Director G+J Russia in Moscow. Hengerer will leave G+J at the end of September 2006 at his own request and on excellent mutual terms. After her studies, Christina Eibl worked as a scientific assistant at the Kurtschatov Institute for Nuclear Research in Moscow for two years. In 1997 she joined the F.A.Z. Institute in Frankfurt as an editor. In the following years she filled various management positions in the company. Since 1999 Christina Eibl has been Director of the book division, and since 2002 Publishing Director Frankfurter Allgemeine Buch. Torsten-Jörn Klein: "Christina Eibl is a distinguished publishing manager who is also very familiar with the Russian culture and language. I am very pleased to welcome her to our team and wish her the best of luck and success. Olaf Hengerer has strongly pushed ahead our business on the difficult Russian market over the past few years. I thank him for his excellent work and wish him all the best in the future."

Alexander Adler
Phone: +49-40-3703-2244

Mario Husten