TechTarget Announces 54 Percent Revenue Growth in 2002, Closing First Profitable Year.

Business/Technology/Advertising Editors & Publishing/Media Writers

NEEDHAM, Mass.--(BUSINESS WIRE)--Feb. 5, 2003

IT Media Company Increases Number of Advertisers and Average

Revenue per Advertiser as Tech Companies Divert Ad Dollars from Broad

Vehicles to Targeted Media and Events

IT media company TechTarget announced 2002 results today, reporting a 54 percent increase in revenues compared with 2001. In a year in which the tech media sector was plagued with continued declines, TechTarget grew its client base substantially and increased the average revenues it realized from each client. As a result of the company's consistent ability to attract advertisers and secure larger percentages of the advertising budget from each client, TechTarget closed its first EBITDA-profitable year.

Since January 2001, TechTarget revenues have increased nearly fourfold. During that same period, the leading technology magazines saw their advertising revenues fall an estimated 44.9 percent.(1)

"This year, IT vendors' advertising and marketing budgets came under intense scrutiny," said TechTarget CEO Greg Strakosch. "Looking to achieve more with less, advertisers demanded more targeted, effective vehicles, greater quality, and more focused client service from their media partners. No other company approaches TechTarget's ability to deliver on these demands. As a result, we gained a substantial number of new advertisers and saw virtually every major client increase its spending with TechTarget this year. When the economy turns around, our targeted model, high-quality editorial content, and unmatched customer service will enable TechTarget to grow even more quickly."

2002 Highlights

In addition to announcing profitability, TechTarget reached a number of other critical milestones:

-- Named the only "Up&Comer" to the "Ten Top Media Powerhouses," BtoB's list of media companies that derive at least half their revenue from the sale of business information, ranked by size, growth, and industry influence. Along with "Up & Comer" TechTarget, the list includes companies that have dominated business-to-business media for decades, including McGraw-Hill Cos., Dow Jones & Co., and Reuters.

-- Launched its first magazine, Storage, to a readership of 50,000 storage-focused IT professionals. In October 2002, Storage was honored with the Folio: Show Ozzie Award for best new magazine design. At the close of 2002, the editors of Storage were selected as finalists for two categories -- Best Start-up Magazine and Best Single Issue -- in American Business Media's Jesse H. Neal National Business Journalism Awards competition. (Results to be announced March 12.)

-- Named to Time magazine's "50 Best Web Sites" for its IT encyclopedia, Whatis.com.

-- Published more original editorial pieces on its TechTarget.com network of Web sites--including news, expert advice, analytical comment, and six "Industry Report Card" examinations of the state of the market -- than any other single IT media source.

-- Expanded the scope of its client service initiatives to help TechTarget advertisers generate maximum results from their advertising efforts. In 2002, TechTarget Client Services added creative review services, lead-qualification monitoring and analysis, brand lift and awareness studies, and extended its market-leading TargetROI strategic counsel and guaranteed-lead program.

-- Held six invitation-only conferences for qualified IT professionals and announced expansion of its conference program to 11 conferences in 2003, including its first European conferences, Storage Decisions Europe and the SearchSAP.com Conference Europe.

-- Became the number-one source for IT Webcasts. During 2002, TechTarget produced more Webcasts than any other media company and delivered more than 100,000 qualified leads to IT vendors. TechTarget closed 2002 producing more than 50 Webcasts per month.

-- Expanded its portfolio of e-mail newsletters, including e-mail newsletters exclusively sponsored by vendors of enterprise IT products and services. TechTarget publishes more than 100 e-mail newsletters, including exclusive-sponsorship e-mail newsletters for Sun Microsystems (Nasdaq: SUNW), Microsoft (Nasdaq: MSFT), EMC (NYSE: EMC), Hewlett-Packard (NYSE: HPQ), NetIQ (Nasdaq: NTIQ), and Global Knowledge.

-- Increased registration across the TechTarget.com network of IT Web sites to more than 2.6 million IT professionals.

About TechTarget

IT media company TechTarget offers the most targeted media for enterprise IT professionals, including invitation-only conferences, e-mail newsletters, Webcasts, Storage magazine, and the only network of Web sites targeted to specific segments of the IT industry. More than 1,000 IT companies advertise with TechTarget media and events, including IBM, Microsoft, Oracle, Sun Microsystems, Intel, HP, Dell, Cisco, and EMC. More information about TechTarget is available at www.techtarget.com.

(1) Technology Advertising and Branding Report, January 13, 2003. Estimated ad revenues for 47 leading technology magazines tracked monthly by TABR.