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St. Joseph Corporation Acquires Key Media

Press release from the issuing company

TORONTO, Feb. 11 - St. Joseph Corporation, one of Canada's major printing and publishing companies, today announced the acquisition of Key Media Ltd., publishers of such well-known titles as Toronto Life, FASHION Magazine, WHERE magazines and WEDDINGBELLS. St. Joseph already has in its publishing portfolio Elm Street, Shift, Canadian Family and recently acquired Saturday Night magazine. "We are pleased to have concluded this acquisition with Key Publishers and TD Capital's Canadian Private Equity Partners and we welcome the outstanding publishing professionals of Key Media to our company" said Tony Gagliano, Chief Executive Officer of St. Joseph Corporation. "Most of the Key Media brands have thrived for decades and have enviable reputations among both readers and the advertising and publishing communities. Key Media will greatly enhance our existing publishing business and fits our growth plans as a communication company". Michael de Pencier, Chairman and major shareholder of Key Publishers said that he felt that "St. Joseph's reputation for excellence, their track record for growth and the way they treat their employees" makes him feel that "we have sold to good, like-minded people". Joe Wiley, Managing Director of TD Capital, said "we are very pleased to have helped complete a deal that pays TD Capital's Canadian Private Equity Partners and Key an attractive price, and allows St. Joseph to move forward with their planned expansion." He explained that TD Capital's CPEP Fund gained a half interest in Key Media as the result of taking over Harrowston Inc., Key's former partner, in June 2001. Key Media, with 250 employees, has its head office in Toronto with other offices in Vancouver, Calgary, Ottawa and Montreal. Its major properties include: Toronto Life, FASHION Magazine, Fashion File TV, WEDDINGBELLS, WHERE magazines in eleven Canadian regions, Gardening Life (50%), and Quill & Quire (a trade publication for the book world) - along with related web sites. St. Joseph Corporation is one of the fastest growing companies in Canada having grown to 1800 associates. St. Joseph is also the largest privately owned print, publishing and digital communications company in the country. Its services include digital production, marketing communications and print-on- demand solutions to customers throughout North America. Their Multi-Vision magazine publishing group includes in its list of titles, Elm Street, Shift, Canadian Family and Saturday Night magazines. It is also a leader in the rapidly growing segment of custom publishing where it publishes a number of branded consumer magazines for several of Canada's leading companies.