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K-III ACQUIRES NELSON PUBLICATIONS; LEADING PROVIDER OF SPECIALIZED INFORMATION FOR INVESTMENT COMMUNITY

 NEW YORK, Nov. 22 /PRNewswire/ -- William F. Reilly, Chairman and CEO of K-III Communications Corporation, today announced that K-III has acquired Nelson Publications, a leading publisher of information services to the investment community. The company sells financial marketing database software and publishes eight directories and two periodicals that are widely used by investment professionals. Nelson win operate as part of the K-III Information group. Terms were not disclosed.
 Mr. Reilly noted that the acquisition, K-III's eighth in the last 18 months, is part of an ongoing strategy to acquire companies with strong competitive positions in specific market niches that fall into three business segments, Direct Response, Magazines and Information.
 "Nelson's highly regarded publications have helped satisfy Wall Street's appetite for quality information for nearly 20 years," Mr. Reilly said. "Nelson's database of investment professionals is the most comprehensive in the country, and gives the company the ability to create specialized publications and database marketing systems for sophisticated, demanding users in the financial community.
 "Nelson's is also an innovator in the electronic delivery of database information to investment professionals," Mr. Reilly said. "Nelson's Institutional MarketPlace On-Disk is the ultimate tool for sales and marketing executives at investment banks, institutional investment managers, pension funds, investment counselors and financial services vendors. At the same time," he added, "Nelson's continues to develop new print products to deliver information from its database, which contains over three gigabytes of data."
 Mr. Reilly also noted that company founder Walter R. Nelson will continue to the business going forward. "Walter Nelson is Nelson's greatest asset. He understood, nearly 20 years ago, that the need for accurate, targeted and timely information is critical to marketing success in today's capital markets."
 Nelson Publications, headquartered in Port Chester, N.Y., was founded in 1974. Its publications include The Directory of Investment Managers, Directory of Investment Research, Guide to Institutional Research, Earnings Outlook, Directory of Plan Sponsors, Guide to Pension Fund Consultants, America's Best Money Managers, Directory of Minority and Woman-owned Investment Managers, Directory of Institutional Real Estate and TechResources. In addition to Institutional MarketPlace On-Disk, Nelson also sells its data in various electronic formats.
 K-III Communications is a diversified publishing, information and direct response company. Its properties include such well known publications as Seventeen and New York magazines, Weekly Reader, Daily Racing Form, and Funk & Wagnalls New Encyclopedia.
 K-III, which was founded in 1989, is a Fortune 500 company.
 -0- 11/22/93
 /CONTACT: Gregory William Miller of Robinson Lake/Sawyer Miller Group, 212-484-7404/


CO: K-III Communications Corporation ST: New York IN: PUB SU: TNM

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Publication:PR Newswire
Date:Nov 22, 1993
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