Cygnus Publishing Acquires Professional Tool and Equipment News, Inc.

ST. PETERSBURG, Fla.--(AutomotiveWire)--June 1, 1999--

Cygnus Publishing today announced it has acquired California-based Professional Tool and Equipment News, Inc. (PTEN). The transaction includes Professional Tool and Equipment News, Fleet Maintenance Supervisor and Body Shop Expo, all are tool and equipment publications serving the automotive and truck industry.

"The assets within PTEN are still very much in their growth stages," says Blair Schmidt-Fellner. "We feel we can add an incredible amount of value to our existing base with this acquisition while increasing the necessary resources needed to extend PTEN's properties and help grow their market.

Professional Tool and Equipment News is the largest publication within the acquisition with a subscriber list of over 110,000 automotive service owners, managers, technicians and mechanics. The magazine launched in 1990, is published six times a year and is number one in its category. It averages over 25,000 inquiries on products within the publication per issue and serves the transportation market that includes tool & equipment distributors, new car and truck dealerships, as well as fleet, general and specialty repair shops.

"When Bob Swenson, our associate publisher, and I launched Professional Tool and Equipment News we helped build the market by allowing a greater forum for advertising with a wider range of distribution than was previously available," says Rudy Wolf, publisher and majority shareholder of PTEN. "We feel confident that by merging with Cygnus Publishing we can continue with our core belief that we would rather help build a market than fight for market share."

Body Shop Expo is also a bi-monthly publication with a combined circulation of over 62,000. Launched in 1994, it services the independent and franchise body repair shops, new, used, fleet and structural body repair shops, as well as wholesale and warehouse body shop distributors. The publication is considered a "trade show in print" allowing advertisers to show off new products and information on a level once reserved only for expositions and large scale meetings.

Fleet Maintenance Supervisor is often referred to as the publication that "keeps America's trucks on the road." Its editorial staff evaluates new technology and legislation important to those individuals responsible for maintaining and repairing vehicles. Only two years old, it is distributed to over 47,000 trucking companies, private, government, utility and independent fleets as well as tool, equipment and independent parts distributors.

Wolf will remain as publisher. Cygnus Publishing also adds two Web sites to its properties in the transaction that are companions of Professional Tool and Equipment News - www.pten.com and Body Shop Expo - www.bodyshopexpo.com.

Cygnus Publishing is ranked among the top business-to-business publishing companies. The company believes content is its primary responsibility and actively seeks out timely issues of importance that affect the professional lives of its readers. Cygnus Publishing is dedicated to being the leading information resource for every market and industry it serves. Currently, there are 8 markets including Chemical Specialties, Grain & Food, Imaging, Off-Road Equipment, Public Service & Technology, Retailing, Shelter & Interiors and Transportation.