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SMITH MCDONNELL STONE & CO. COMPLETES ACQUISITION OF FACTS ON FILE AND NATIONAL QUOTATION BUREAU

 NEW YORK, June 30 /PRNewswire/ -- An investment group led by Smith McDonnell Stone & Co., and including Chase Manhattan Investment Holdings Inc. has completed the previously announced acquisition of Facts On File Inc. (FOF) and National Quotation Bureau (NQB) from Commerce Clearing House Inc. (CCH). According to Paul Smith, a founding partner of Smith McDonnell Stone, the firm has identified publishing and information technologies as principal areas of interest.
 Chase Manhattan Investment Holdings Inc. is a subsidiary of the Chase Manhattan Corp. Debt financing was provided by U S WEST Financial Services Inc., Stamford, Conn. Terms of the transaction were not disclosed.
 In making this acquisition, Smith McDonnell Stone, a New York-based investment advisor and financial sponsor, has formed a new information- based company, Infobase Holdings Inc., to enter the rapidly growing market for general reference works in print, on-line, and CD-ROM formats. The company plans to expand its electronic efforts by utilizing the databases of Facts On File and National Quotation Bureau to develop an increasingly large number of print and electronic products. Facts On File currently publishes books, subscription services, CD-ROMS, and on-line databases. National Quotation Bureau is a publisher of valuation information on financial products.
 Facts On File, established in 1940, publishes about 125 new titles each year and will continue to expand its extensive list of over 1,100 publications while utilizing its large database in electronic media. The company's principal markets are school, public, and university libraries, and its trade list is represented in book stores nationwide and includes such titles as THE GUINNESS BOOK OF RECORDS. In its electronic product line, it is the publisher of FACTS ON FILE NEWS DIGEST CD-ROM, a database of thirteen years of news articles and maps and THE AMERICAN INDIAN: A MULTIMEDIA ENCYCLOPEDIA.
 Established in 1913, National Quotation Bureau is the publisher of the "Pink Sheets," the inter-dealer daily quotation service for over-the-counter stocks and bonds. National Quotation Bureau also delivers its services in electronic format, including on-line databases, through several financial information vendors.
 Participating as management of Infobase Holdings and the combined operations of FOF and NQB will be Marlowe G. Teig as chairman and Thomas C. Conoscenti as president and chief executive officer.
 Marlowe Teig is managing director of Berkery, Noyes & Co., an investment banking firm that specializes in mergers and acquisitions in publishing, media and communications. Tieg has nearly 30 years in senior publishing positions at Macmillan Inc., Houghton Mifflin Co. and Harcourt Brace Jovanovich. Thomas Conoscenti, who has been involved with FOF for more than 20 years, will remain as president of the company. Conoscenti has held editorial, financial and publishing positions within CCH during the past 25 years.
 Both principals of Infobase Holdings noted that Facts On File and National Quotation Bureau have very good growth opportunities, especially in the application of electronic technologies to reference information.
 -0- 6/30/93
 /CONTACT: Tom Conoscenti of Facts On File, Inc., 212-683-2244/
 (CCLR)


CO: Facts On File, Inc.; Commerce Clearing House Inc.;
 Smith McDonnell Stone & Co. ST: New York IN: PUB SU: TNM


LG -- NY062 -- 7261 06/30/93 14:58 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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