NEW YORK, NY (June 24, 2002) - Richard J. O'Rorke has been named Chief Financial Officer for Magazine Publishers of America (MPA), it was announced today by Michael Pashby, Executive Vice President/General Manager, MPA. Mr. O'Rorke had most recently been President of R.J. O'Rorke & Company, his financial, accounting and taxation firm, since 2001. He reports to Mr. Pashby. "We are delighted that Richard is heading up our financial department," said Mr. Pashby. "His range of expertise will be valuable to our membership as well as to the MPA team." In his position, Mr. O'Rorke will be responsible for all accounting, finance and administration. Additionally, he will oversee the Accounting & Finance Committee and work closely with the Media Credit Association, a division of the MPA. Prior to managing his financial services firm, Mr. O'Rorke was Chief Financial Officer for The Financial Times Publications, Inc. from 1998-2001, where he was responsible for financial reporting, budgeting, cash management, taxation, business law, real estate and employee benefits. From 1980-1998, Mr. O'Rorke held a trio of positions at The Economist Newspaper Group, Inc., most recently as Chief Financial Officer from 1988-1998. In that capacity, he was responsible for all matters of finance, including budgeting, buy/lease analysis, cash management, reporting, taxation, business law, insurance (including risk management), real estate and employee benefits. Prior to his CFO role, Mr. O'Rorke held the positions of VP/Finance and Financial Controller at The Economist Newspaper Group, Inc. Earlier in his career, he was a Senior Accountant with PricewaterhouseCoopers from 1977-1980. He began his career as Claims Examiner for American International Group from 1973-1976. Mr. O'Rorke is a member of the Treasurers' Club of New York. A graduate of the College of the Holy Cross with a B.A. in Mathematics and an MBA in Accounting & Finance from Rutgers University, he is also a NYS Certified Public Accountant. He resides in Wood-Ridge, New Jersey, with his family.