Press release

Gruner + Jahr Brings GALA To Spain, Sets Up Joint Venture

Hamburg, 30 June 2004 –

Gruner + Jahr continues on its expansionist course: in fall of 2004, Europe´s biggest magazine publisher will begin publishing the internationally successful people magazine GALA in Spain. To this end, G+J is entering into a 50/50 joint venture with the Vocento media group; Grupo Vocento is Spain´s biggest newspaper publisher and commands a 26 percent share of the market, along with the publishing expertise that implies.

The launch in Spain will bring the total number of GALA titles published by G+J throughout Europe to five. Since making its debut in France eleven years ago, GALA has come to occupy an important place in G+J´s international portfolio – with editions in Germany (since 1994), Poland and Russia (both since 2001), it has become one of the highest-profile magazines in the People segment. In 2003, total circulation of all four GALA editions exceeded 1 million copies. Spanish GALA will be published by Milagros Valdé;s, who is seen as one of Spain´s most important magazine publishers. Among other things, she was editor-in-chief of the successful people magazine "Diez Minutos." G+J currently publishes seven magazines in Spain.

Torsten-Jörn Klein, member of the G+J executive board and head of the International Magazines division, said: "Together with our partner Grupo Vocento, Gruner + Jahr will continue GALA´s tale of success in Spain´s highly developed celebrity market. We want GALA, under the leadership of our managing director Carsten Moser, to set standards for high-quality people journalism, and we intend to continue our growth in Spain with additional titles."

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