Press release

G+J Russia: GEO TRAVELLER Opens Gateway to the World

Hamburg, 24 October 2004 –

Europe´s biggest magazine publisher haslaunched another magazine innovation in Russia: The new traveljournal GEO TRAVELLER, the latest member in the exceedinglysuccessful GEO family, hits Russian newsstands today. GEO TRAVELLERis devoted to attractive travel destinations all over the world,which it presents in typically impressive pictures and thoroughlyresearched, entertaining texts in an original and large-format layout.

At a cover price of about 4 euros, which makes it the most expensivegeneral-interest title in the Russian magazines market, the new titleis positioned at the high end of the premium segment. It thus catersspecifically to well-heeled readers with generous travel budgets,making GEO TRAVELLER an accordingly attractive advertising environmentfor luxury brands: its premier issue drew such advertising customersas Ermenegildo Zegna, Montblanc, Porsche and Rolex. The magazine willinitially be published four times a year in a print run of50,000 copies. GEO TRAVELLER´s editor-in-chief is Alexei Karelsky.G+J publications in Russia, beyond GEO TRAVELLER, are GEO, GEO FOCUS,GEOLENOK and GALA.

Dr. Torsten-Jörn Klein, G+J executive board member in charge ofInternational Magazines, said: "The GEO brand is a big priority inour planned international expansion. According to informationrecently published by Gallup-Adfact, Gruner + Jahr Russia grewby 85 Percent during the first half of 2004, making it the absolutefront-runner among the country´s established publishers.Dr. Olaf Hengerer´s team continues this success with GEO TRAVELLER,which instantly creates an impulse for further growth."

For further information:

Alexander Adler
Gruner + Jahr AG & Co KG
Am Baumwall 11
D-20459 Hamburg
Telephone: +49-40-3703-2244
Telefax: +49-40-3703-5688