Press release

Gruner + Jahr Polska and Cond;eacute; Nast International are launching GLAMOUR magazine on the Polish market

Hamburg, 05 December 2002 –

Hamburg, London, Warsaw, December 6, 2002
G+J Polska, the Polish subsidiary company of Europe;#180;s largest print and publishing house Gruner + Jahr, will launch the internationally successful women;#180;s magazine GLAMOUR in Spring 2003. GLAMOUR will be published by G+J Polska under the Condé; Nast license. The editor-in-chief of GLAMOUR Poland will be Grazyna Olbrych, 37, who up to now has been managing Cosmopolitan Poland.

As one of the leading magazine brands in the world, GLAMOUR has been successfully internationalized in recent years. The original edition in the United States, which today has a circulation of 2.5 million sold copies, was followed by editions in Italy in 1992 (250 TEx), Germany (480 TEx), Great Britain (520 TEx), Greece in 2001, and Spain in 2002.

Axel Ganz, member of the executive board of Gruner + Jahr, says: GLAMOUR is a women;#180;s magazine that suits Gruner + Jahr perfectly, and is also well suited to the Polish market. Over the last few years, the magazine;#180;s concept has been a guarantee for quality and innovation; the successful launches of GLAMOUR in England, Germany and Spain speak for themselves. And GLAMOUR Poland, too, will provide information, entertainment and advice, as well as encourage joie de vivre. We at Gruner + Jahr look forward to this co-operation with Condé; Nast. We share the unquestioning devotion to quality and internationality.

Bernd Runge, vice president of Condé; Nast International, says:
We are pleased about this partnership with Gruner + Jahr and are convinced that the internationally acclaimed success of GLAMOUR will continue in Poland. The innovative pocket format concept, coupled with a wide mix of topics, will conquer the women;#180;s magazines segment in Europe. We wish to continue with this recipe for success in Poland, one of the most important magazine markets in Eastern Europe.

Oliver Voigt, manager of G+J Polska, says: With NATIONAL GEOGRAPHIC and GALA, we have successfully launched two quality magazines in the last two years, and from spring 2003 onward we will continue with the internationally acclaimed success of GLAMOUR in Poland. I am very pleased to welcome Grazyna Olbrych, one of the most capable journalists in the country, to G+J Polska.

Gruner + Jahr, Europe;#180;s largest magazine publishing house, publish more than 110 titles in 15 countries, including STERN, BRIGITTE, GEO, GALA, CAPITAL, FAMILY CIRCLE, INC. and FEMME ACTUELLE. G+J has been active in Poland since 1993. With 8 magazines, including GALA, CLAUDIA and NATIONAL GEOGRAPHIC, G+J Polska is one of the leading Polish magazine publishing houses in the country today.

Condé; Nast publishes more than 80 titles in over 16 countries throughout the world, including VOGUE, GQ, ARQUITECTURAL DIGEST, VANITY FAIR, HOUSE ; GARDEN and COND;Eacute; NAST TRAVELLER.

Stefan Michalk
Member of the spokesman group
Gruner + Jahr AG & Co
Am Baumwall 11
20459 Hamburg
Telefon: +49-40-3703-2244
Telefax: +49-40-3703-5688