Prism Business Media Acquires SpeedNews, Inc. Wednesday September 20, 2006 NEW YORK--Sept. 20, 2006--Prism Business Media Inc. today announced the acquisition of SpeedNews, Inc., a leading source of news and information for executives in the aviation industry since 1979. SpeedNews publishes multiple industry-leading market-intelligence newsletters and also produces a highly-regarded series of annual supplier conferences. The company hosts SpeedNews.com, a leading business-to-business Web site for aviation executives, which includes a comprehensive online database of available commercial airliners and corporate aircraft and their engines. Terms of the transaction were not disclosed. "We are extremely pleased to add these highly respected products, as well as the talents of SpeedNews founder and aviation industry leader Gilbert Speed and his experienced team, to our already strong aviation portfolio," said John French, CEO of Prism Business Media. "With the integration of SpeedNews' highly complementary commercial, military and corporate aviation products, we will be able to provide our combined customers with a broader array of aviation information and marketing services," added Shawn Etheridge, senior vice president, Information Data Products for Prism. SpeedNews, founded in 1979, is based in Los Angeles, Calif. Its publications include: - SPEEDNEWS, the company's flagship weekly paid-subscription newsletter, reporting the latest developments in the commercial and corporate aviation industry to a readership of over 60,000 aviation executives worldwide. - SPEEDNEWS Defense Biweekly, a summary of military aviation news. - Aircraft Insider, an e-mail publication for the aircraft trader, which extracts aircraft transaction news and aircraft and engine for sale/lease listings that appear in SPEEDNEWS, a world leader in the reporting of aircraft transactions. - STW (SPEEDNEWS This Week), a market-intelligence e-newsletter supplement to SPEEDNEWS and SPEEDNEWS Defense Biweekly, circulated to 42, 000 aviation executives in 160 countries around the world, including employees at more than 1,500 airlines/charter operators. -NYCU (News You Can Use), a daily online news service sent via e-mail SpeedNews produces four industry supplier conferences each year, designed for equipment manufacturers, marketing representatives, analysts and raw material suppliers. SpeedNews is currently holding its 7th Annual Aviation Industry Suppliers Conference (AISCT) in Toulouse, France with more than 165 attendees representing 125 different companies from 21 countries. Other upcoming conferences include the 11th Annual Regional & Corporate Aviation Industry Suppliers Conference; the 21st Annual Aviation Industry Suppliers Conference; and the 5th Annual Aerospace & Defense Industry Suppliers Conference. SpeedNews founder Gilbert Speed will continue to serve as a consultant to Prism, chairing the SpeedNews conference series and overseeing content for the newsletters. "The combined strength and market knowledge of SpeedNews and Prism will enable us to extend our reach further into new markets for aviation products and services," said Speed. "We are excited about working with the Prism team on development of innovative information and editorial products for current and new customers across the entire aviation community." Merger and acquisition firm Whitestone Communications, Inc. of New York, represented SpeedNews, Inc. in this transaction Prism's other aviation-related information data products include AC-U-KWIK FBO/airport directories; acukwik.com; The Aircraft Bluebook; The Air Charter Guide, The Executive Traveler Edition, and NAVPAK flight planning software. Prism Business Media Inc. is a leader in business-to-business communication and information, connecting qualified buyers and sellers in 20 industry sectors. Prism's growing portfolio of market-leading brands spans 70 magazines, 150 e-newsletters, 17 industry trade shows and 500 rich data products. Each month, more than 3.3 million unique visitors utilize Prism Web sites and services. Prism Business Media is owned by U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and by co-investors Highfields Capital Management and Lexington Partners. For additional information on the company and its businesses, visit www.prismb2b.com. Contact: Peters & Feldman for Prism Business Media Lee Feldman, 203-854-5848 leefeld@xxxxxxxxxxxxx Source: Prism Business Media Inc. _________________________________________________________________ Find a local pizza place, music store, museum and more?then map the best route! http://local.live.com