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REED PUBLISHING COMPANY AND THE AMERICAN BOOKSELLERS ASSOCIATION SIGN CONTRACT IN JOINT TRADE SHOW AGREEMENT

 STAMFORD, Conn., May 21 /PRNewswire/ -- Reed Publishing (USA) Inc., and the American Booksellers Association have created a joint venture company that will own and operate the annual ABA trade show, the premier event serving the nation's bookselling and publishing industry. The contract completing this transaction was signed today, giving Reed Publishing (USA) Inc., a 49 percent minority equity interest in the American Booksellers Association Trade show in exchange for a substantial one-time cash payment.
 Chuck Robinson, president of the board of directors of ABA, said, "With Reed's financial resources and expertise, we believe we can attract more booksellers and exhibitors to our convention. It is essential as the book business grows that our trade show provide in one location an opportunity for our members to broaden selection in their stores and improve their ability to serve an increasingly sophisticated market for information, education and entertainment."
 Bernie Rath, executive director of ABA says: "The large financial endowment that comes to ABA in return for the minority equity interest will enable the association to pursue greater opportunities for the book industry and our bookseller members and to ensure ABA's fiscal health into the foreseeable future."
 Association Expositions & Services (AE&S), a member of Reed Exhibition Companies, has extensive experience in managing large association trade shows, and will be the new show management company for the event. The relationship will begin with the 1994 ABA Trade Show and Conference, to be held in Los Angeles from May 28 - 31.
 The American Booksellers Association (ABA) is a 93-year-old not-for- profit trade association representing 8,000 book industry businesses, including 4,500 retail bookstore operations. Launched in 1947 by the Association, the ABA Trade Show and Conference has grown into a world respected industry event attracting 2,000 U.S. and international exhibitors and 27,000 attendees. This annual industry meeting place serves the US book selling and publishing communities by providing an unparalleled opportunity for booksellers, publishers, authors, literary agents, wholesalers, and others aligned with the industry to meet and conduct business. The ABA trade show ranks as the fiftieth largest trade show in the country, and is second in size only to the Frankfurt Book Fair in the book industry worldwide.
 Reed Exhibition Companies is the world's largest exhibition organizer with 287 events in 25 countries on three continents. Reed Exhibition company has 27 operating offices, 1,100 employees and an international network of 30 offices and agents.
 Robert L. Krakoff, chairman and CEO of Reed Publishing USA and CEO of Reed Exhibition Companies, said, "We are deeply involved in the book industry through a wide variety of significant investments throughout the world. In the United States we own and operate Publishers Weekly, Library Journal and School Library Journal, and this association with the ABA will broaden our commitment to the book trade and reading public." James M. Alic, president of Reed Exhibition Companies North America, added, "We are enthusiastic about this opportunity and are, we believe, uniquely situated to make a significant contribution to this show. We have an Association Exposition & Services division exclusively devoted to serving the exhibition needs of associations and currently work with a number of large national associations similar in size and scope to ABA."
 Both parties are confident that this partnership, combining ABA's established industry position and Reed's strategic show management expertise, will serve to further increase the event's exhibitor participation, attendance, and international importance.
 For further details contact Bernie Rath, executive director of ABA, 914-631-7800, ext. 207, or Pat Dolson, vice president and general manager of AE&S (Reed) at 203-325-5046.
 -0- 5/21/93
 /CONTACT: Amy Riemer of Association Expositions & Services, 203-325-5020/


CO: Reed Publishing Company, American Booksellers Association ST: Connecticut IN: PUB SU: CON

DJ -- NE008 -- 1186 05/21/93 11:57 EDT
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Date:May 21, 1993
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