Press release

Gruner + Jahr Reports Increased Revenues and Earnings in First Six Months of 2007

Hamburg, 04 September 2007 –

Gruner + Jahr improved its revenues and operating result during the first half of 2007. Turnover increased to ;euro;1.39 billion (H´1/2006: ;euro;1.37 billion), while earnings improved to ;euro;116 million (H´1/2006: ;euro;111 million). In all, the first half was dominated by investments in "Expand your Brand" activities to further develop G+J´s brands on new media platforms beyond print.

In Germany and France, G+J´s core businesses delivered a good performance in horizontally developing advertising and sales markets. G+J introduced EBAY-MAGAZIN and DOGS to newsstands in Germany and discontinued WOMAN. G+J Germany systematically advanced the development of its brands by launching numerous online projects.

In France, magazines including GALA and CAPITAL and their Internet portals did well, while startup investments in the since-discontinued women´s magazine JASMIN put a strain on the bottom line.

The International division showed a significant increase in revenues and profits. In particular, G+J´s subsidiaries in Austria, Spain, Italy and Poland all improved their operating result. In China, G+J´s stake in the BODA media company fueled a growth spurt, thanks in part to excellent online and print advertising income for the RAY-LI brand family. The SÄCHSISCHE ZEITUNG reported a further increase in revenues and improved earnings in the first half of 2007, thanks primarily to marked growth in new businesses and mail subscriptions. The FINANCIAL TIMES DEUTSCHLAND did well in a competitive environment that continued tough.

The gravure operations grouped in the PRINOVIS joint venture continued to labor under strong pricing pressure.

Dr. Bernd Kundrun, Chairman and CEO of Gruner + Jahr, said: "All things considered, we had a positive first half. We´ve picked up speed in the implementation of our ´Expand your Brand´ strategy, and will continue to intensify our efforts in this area. We plan to make some investments in the second half of 2007, in particular in digital ventures."

Alexander Adler
Vice President, Media Relations
Fon: +49-40-3703-3810