TechTarget Announces Fourth-Quarter Revenue Growth of 30 Percent.

Business/Technology/Advertising Editors & Publishing/Media Writers

NEEDHAM, Mass.--(BUSINESS WIRE)--Feb. 11, 2004

2003 Profits Increase 45%, with 22% Revenue Growth

as Company Closes Second Consecutive Profitable Year

IT media and events company TechTarget announced fourth-quarter results today, reporting a 30 percent increase in quarterly revenues relative to the same period last year. The company also reported 2003 results, showing a 45 percent increase in profits relative to 2002 and a 22 percent increase in revenues. 2003 marks the second consecutive year of profitability for the company.

TechTarget also reported that each line of business--online, print, and conferences--grew and was profitable during 2003. Over the past three years, TechTarget revenues have increased nearly fourfold.

TechTarget's performance continues to defy economic trends in the tech media and events sector, where the erosion of advertising spending that began with the tech crash in 2001 has only recently begun to moderate. According to the most recent data released by Business Information Network (BIN), which tracks ad pages and ad spending in business-to-business media, the tech sector showed a 15.01 percent decline in ad pages and a 15.85 percent decline in ad spending in the first 11 months of 2003.

"TechTarget continues to set the mark for performance in the tech media and events industry," said TechTarget CEO Greg Strakosch. "Despite an industry-wide chill on advertising spending in the first half of the year, TechTarget grew aggressively in 2003, gaining new advertisers and significantly increasing our business with top advertisers. Our focus on delivering client ROI and our commitment to innovation enabled us to increase our client share and establish ourselves as a leader in the market. We look forward to a robust 2004, when our targeted model, high-quality editorial, and unmatched client service will enable TechTarget to grow even more."

2003 Highlights

During 2003, TechTarget expanded the scope of its business through acquisitions, sales growth, and hiring continued innovation:

-- Added more than 400 advertisers, bringing the total number of

advertisers doing business with TechTarget to 1500

-- Tripled the staffing for the company's San Francisco office,

adding sales and client consulting services staff to address

increased demand from West Coast clients

-- Increased the depth of its offerings serving the information

security market with the acquisition of Information Security

magazine, widely considered the most authoritative publication

on infosecurity. Information Security has the largest reach

among IT security professionals of any BPA-audited information

security publication in North America.

-- Converted its entire portfolio of nearly 100 e-newsletters to

a controlled, qualified, direct-request circulation model. The

new e-newsletter model, a first for tech media, parallels the

ROI-focused models the company adopted for its Storage

magazine (where no vendors are included in the rate base) and

conferences (where admission is limited only to those who

qualify as an IT decision maker).

-- Announced an agreement with Exhibit Surveys for independent

audits of TechTarget conference attendance and key attendee

demographics. The audit agreement marks the first time an IT

events company has audited its entire conference portfolio.

-- Enhanced its leadership in tech news coverage. In 2003,

TechTarget was the first tech news organization to report on

such critical stories as the Blaster/LovSan worm and the

Windows RPC vulnerability that enabled it, EMC's decision to

stop marketing its WideSky storage platform, and changes to

Microsoft's software upgrade plan for Microsoft Licensing 6.0.

2003 Awards and Recognition

-- Co-founder and CEO Greg Strakosch received the Ernst & Young

New England Entrepreneur of the Year(R) Award in the Media

category.

-- The Boston Business Journal ranked TechTarget as the third

fastest-growing private company in Massachusetts, the only IT

media company named to the 2003 list of the area's "50

Fastest-Growing Private Companies.

-- Andrew Briney, editor in chief of TechTarget's Information

Security magazine, was inducted into the Information Systems

Security Association Hall of Fame in recognition of his

contributions to the industry.

-- Storage magazine won twelve awards for editorial and design,

including the Gold award for best feature design in the Folio:

Show Ozzie Awards and an Honorable Mention in the Folio: Show

"Eddie" Awards for Outstanding Editorial Work in a

business-to-business technology publication, a finalist slot

in two categories of the Jesse H. Neal National Business

Journalism Awards competition, and eight Awards in the

American Society of Business Publication Editors (ASBPE)

Awards competition.

-- SearchStorage.com was named to BtoB magazine's "Media Power

50" list of most powerful business-to-business advertising

venues, marking the third consecutive year in which TechTarget

properties have made the list.

About TechTarget

TechTarget offers the most targeted media and events for enterprise IT professionals, including invitation-only conferences; controlled, qualified e-newsletters; Webcasts, Storage magazine, Information Security magazine, and the only network of Web sites targeting specific sectors of the IT market. TechTarget offers measurably effective branding and lead-generation programs, including TargetROI, an integrated advertising program that helps advertisers maximize the return on their advertising investment by providing them with strategic counsel and a guaranteed number of leads. TechTarget's more than 1,500 advertisers include the leading IT companies in the world, among them, IBM, Microsoft, Oracle, HP, Cisco, Intel Corp., and EMC Corp. More information about TechTarget is available at www.techtarget.com.