Press release

Gruner + Jahr Significantly Enhances Position in China

Hamburg, 06 November 2006 –

Gruner + Jahr has enhanced its position in China considerably by investing in BODA, a Chinese company based in Peking. The deal includes the merger of the Ray Li titles handled by BODA (four magazines) with the G+J/CLIP portfolio (four magazines). This step opens up the possibility for G+J to further develop the country´s second-biggest magazine portfolio by circulation and revenue.

Ray Li is the only Chinese magazine publisher that publishes contemporary original Chinese magazine brands, and leads the market in women´s titles. The company´s portfolio includes its flagship RAY LI FUSHI MEIRONG, the women´s publication RAY LI YI REN, the young women´s title RAY LI XIANG FENG, and the living magazine RAY LI JIA JU. RAY LI FUSHI MEIRONG and RAY LI YI REN lead the market in high-end Chinese women´s magazines, well ahead of competing titles such as "Vogue," "Cosmopolitan" and "Elle." Apart from its success in women´s publications, Ray Li also sets trends in brand expansion and the development of new business in the New Media sector, and operates Asia´s leading women´s portal, rayli.com.cn, which registers 6 million visits a day.

Dr. Torsten-Jörn Klein, Member of the Executive Board and President G+J International Magazines, said: "After two years of intense negotiations, we have now managed a major buy-in to one of the world´s most attractive magazine brands. This puts G+J in an excellent position for further growth in China."

Kurt Otto
Vice President, Media Relations
Fon:+49-40-3703-3810
E-Mail: otto.kurt@guj.de

JIA JUFUSHI MEIRONGXIANG FENGYI REN