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May Advertising Revenue Increases, Several Categories Experience Growth

Press release from the issuing company

New York, June 11, 2002 – Total magazine advertising revenue for the month of May increased 2.4% from last year, closing at $1,510,367,049 according to Publishers Information Bureau (PIB). Ad pages for May were 20,268, down 6.3% from last year. Year-to-date, advertising revenue reflected a decrease of 3.3%, closing at $6,332,458,233 and ad pages were 87,217, down 11.6% over last year. May 2002 vs. 2001 Eight of the major advertising categories recorded positive dollar growth this May. Gains were noted in Retail, Food & Food Products, Drugs & Remedies, Home Furnishings & Supplies, and Direct Response Companies, among others. Losses were noted in Technology; Transportation, Hotels & Resorts; Financial, Insurance & Real Estate; and Apparel & Accessories. Twelve categories are the most significant contributors to PIB revenue, comprising more than 86% of total advertising spending. January - May 2002 vs. 2001 Gains were noted in five categories for the year-to-date comparison, namely in Drugs & Remedies, Food & Food Products, Direct Response Companies, Home Furnishings & Supplies, and Media & Advertising. Losses were most notable for Technology; Financial, Insurance & Real Estate; Transportation, Hotels & Resorts; and Apparel & Accessories. "We're encouraged that magazine advertising has shown improvement in the month of May," noted Ellen Oppenheim, Executive Vice President/Chief Marketing Officer, MPA. "Revenue grew in two-thirds of the major advertising categories." Magazine Publishers of America is the industry association for the consumer magazine business.  Established in 1919, the MPA represents more than 240 domestic publishing companies with approximately 1,400 titles, more than 80 international companies and more than 100 associate service providers.  Staffed by magazine industry specialists, the MPA is headquartered in New York City, with an office of government affairs based in Washington, D.C.