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FORBES NAMES CUNNINGHAM PUBLISHER; WEINBERGER CHAIRMAN

 NEW YORK, May 17 /PRNewswire/ -- Malcolm S. Forbes Jr., president and chief executive officer of Forbes Inc. and editor-in-chief of Forbes magazine announced today the promotion of Associate Publisher Jeffrey M. Cunningham to Forbes publisher.
 Publisher Caspar W. Weinberger, former Secretary of Defense under President Reagan, has been elected chairman of Forbes Inc. -- the second person in the history of the company to hold that title.
 Mr. Cunningham's promotion, Mr. Forbes said, "is in recognition of his superb talents. In his last three years as associate publisher, Jeff has played a major role in the incredible growth of Forbes magazine. In 1992, Forbes carried more advertising pages than any other magazine in America -- and we're the only publication in our field to see an increase this year."
 Mr. Forbes said the appointment of Caspar Weinberger as Forbes chairman also reflects the company's dramatic growth.
 "Seven years ago, Forbes Inc. was known mainly as the publisher of Forbes magazine. We have since expanded into a global communications firm, encompassing magazines, including three Forbes foreign editions, newspapers, a custom publishing group, a conference division and other businesses. Caspar Weinberger is one of few individuals with the international vision and stature to guide the company on its new global mission."
 Mr. Forbes pointed out that the position of chairman has been vacant since the death of his father, Malcolm S. Forbes, in 1990.
 Prior to his promotion, Jeffrey M. Cunningham had been associate publisher of Forbes magazine since 1990. He previously held positions as worldwide advertising director and director of agency relations at the magazine, as well as publisher of American Heritage magazine, another Forbes property. Before joining Forbes, he was an executive with McGraw-Hill Inc. and held management positions at several of its magazines.
 Speaking of his new role as Forbes publisher, Mr. Cunningham commented: "I look forward to exploring new ways to expand the Forbes franchise while guarding the integrity of the Forbes brand and heritage.
 "I want to insure that the primary focus of Forbes magazine will continue to be on our business readers. Forbes is number one with advertisers because we have an exceptional relationship with a very special group of readers."
 Forbes magazine is read by 750,000 subscribers, over half of whom occupy upper management positions.
 In addition to Forbes magazine, Forbes Inc. publishes the Chinese- language Forbes Zibenjia, the Japanese-language Forbes Nihonban and the German-language !Forbes Von Burda, as well as Forbes FYI, Forbes ASAP, American Heritage magazine, American Heritage of Invention and Technology, Audacity and Civil War Chronicles. The company also operates the American Heritage Custom Publishing Group, Forbes Newspapers, Forbes MediaGuide and The Forbes Conference Division -- all launched or acquired since 1986.
 Caspar W. Weinberger was born on Aug. 18, 1917. He was nominated by President Reagan to be Secretary of Defense in 1980 and served in this position until his resignation on Nov. 23, 1987.
 Jeffrey M. Cunningham was born on Aug. 25, 1952. He resides in Greenwich, Conn., with his wife and four children.
 -0- 5/17/93
 /CONTACT: Elizabeth Ames of Forbes, 212-620-2398/


CO: Forbes Inc. ST: New York IN: PUB SU: PER

WB-PS -- NY046 -- 9145 05/17/93 11:11 EDT
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Date:May 17, 1993
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