The Economist Announces Redesign With Multi-million Dollar Campaign; TV Commercial Reveals That Nelson Mandela and His Fellow Inmates Read the Economist in Prison.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 7, 2001

After over a century and half of publishing, The Economist, the world's most respected political, business and current affairs newspaper, is undergoing a major redesign - only its fifth since 1843. A $2.5 million global multi-media campaign will launch on May 9th, beginning with a dramatic commercial revealing that Nelson Mandela read The Economist during his long years of imprisonment.

Beginning with the May 12th issue, The Economist will print in full color throughout, using color photographs, artwork and graphics. Besides a new, more contemporary look to the cover, contents and the introduction of 4-color to the publication, the magazine has streamlined its layout to provide easier navigation of the sections. Each section will contain its own table of contents and there will be subtle changes to the whole look and feel of the newspaper, all designed to make the ideas, arguments and analysis clearer, easier to find and easier to read.

To support the redesign, a moving commercial has been produced by AMV/BBDO in London. Shot on location in and around Capetown, South Africa, the commercial tells how Nelson Mandela read The Economist during his interminable years of imprisonment on Robben Island -- that is, until the prison authorities discovered that the newspaper contained news of the world -- not just economics -- and ended the subscription.

Launching worldwide on May 9th, the 30-second commercial will be shown in the U.S. on CNBC and CNN. Print advertisements will also run in the New York Times, the Wall Street Journal, the Los Angeles Times, the Financial Times and the New York Observer. In Europe, the commercial will run on Channel 4, Carlton, LWT and on CNN International and, in both Europe and Asia, will also be supported by poster, print and radio advertising.

Editor Bill Emmott points out that the new-look magazine will be precisely in line with The Economist's traditions of taking world affairs, of all levels of seriousness and complexity, and making them understandable to all readers. "The clarity of our own language and analysis will now be perfectly matched and assisted by the clarity of our layout and graphical presentation. Existing readers will find the editorial stance and approach unchanged, but in a paper that is easier to navigate. New readers, who have often told us that they find The Economist rather forbidding, will now find us easier on the eye but just as stimulating to the brain."

Worldwide Publisher David Hanger adds that, "one of the key purposes of the redesign is to make the magazine more accessible and user-friendly so that, unlike the authorities of Mr. Mandela's prison, potential readers won't assume we are only about economics. Each week, we provide clear reporting and analysis on a range of topics in world politics, business, finance, science and technology, culture and society."

Over 760,000 people worldwide subscribe to or buy The Economist each week, a total that has been growing steadily for two decades. In all, some 3 million people read The Economist each week. Despite the fact that The Economist is the single most expensive consumer magazine sold in the United States (average 12 month subscription value is $104.66) North America is the magazine's largest market with circulation growing 74% over the last decade to close to 350,000.

To request an interview, a copy of the redesigned magazine, and/or the Nelson Mandela commercial, contact Humphry Rolleston.