Business Editors

WASHINGTON--(BUSINESS WIRE)--June 14, 2001

The Board of Directors of the National Association of Home Builders (NAHB) has approved an agreement in principle for the sale of its 10-year old Remodelers' Show to Hanley-Wood, LLC.

Under the terms of the

proposed agreement presented to the NAHB Board on June 10, Hanley-Wood and NAHB would enter into a 45-year sponsorship agreement making NAHB and its Remodelors Council the official sponsor of the trade show. Hanley-Wood's Remodeling magazine will become the official publication of the event. The transaction is subject to the final terms of the agreement being worked out between the two parties over the next 30-45 days.

"This is a great opportunity to leverage the strengths of both organizations and greatly expand the Remodelers' Show," said Bruce Smith, president of NAHB and a home builder from Walnut Creek, California.

"Hanley-Wood is the leading media company in residential construction and we have been very active in acquiring construction industry trade shows. This show, paired with Remodeling magazine, has a terrific upside," added Michael Wood, Chief Executive Officer of Hanley-Wood.

The Remodelers' Show is the largest trade show in the $150 billion residential remodeling industry, featuring 150 companies exhibiting their products and services in 100,000 net square feet of space to more than 15,000 remodeling industry professionals.

"Hanley-Wood's business plan is to expand and improve the Remodelers' Show into an even bigger event that will attract new exhibitors and increase qualified attendees," said Smith. "This is good news for the remodeling industry, NAHB and its remodeler members. Our Remodelors' Council will continue to have strong input on the education programs at the show."

Hanley-Wood has experienced tremendous growth in its exhibitions group during the last 14 months, growing from one to eight shows, four of which are in the Trade Show Week Top 200. With the addition of the Remodelers' Show, Hanley-Wood exhibitions will encompass 2.1 million square feet of space and attract more than a quarter of a million attendees annually. Much of this success is attributed to the educational programming available at the shows. The Remodelers' Show will be held in Atlantic City, November 1-3, 2001.

Hanley-Wood is the leading business-to-business media company in the residential and commercial construction industry. Founded in 1976, Hanley-Wood is a $160 million company owned by VS&A Communications Partners III, the private equity affiliate of media industry merchant bank Veronis Suhler.

Hanley-Wood publishes leading magazines in the residential and commercial construction industry including Builder, Big Builder, ihousing, Remodeling, The Journal of Light Construction, ProSales, Custom Home, residential architect, Building Products, Concrete Construction, Tools of the Trade, and the consumer title Old-House Journal.

From its Exhibitions Division based in Dallas, Hanley-Wood produces eight trade shows, including World of Concrete, Surfaces and International Pool and Spa Expo. Hanley-Wood Integrated Marketing is based in Minneapolis and the Home Planners Division, based in Tucson, is the leading publisher of house plan magazines, Special Interest Publications and eplans.com. Hanley-Wood's Internet Division has a major Internet presence through its sites including Builder Online, Remodeling Online, and its new company, ebuild, the comprehensive guide to building products.

The National Association of Home Builders is a Washington-based trade association representing more than 203,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country.

NAHB's builder members will construct about 80 percent of the more than 1.5 million new housing units projected for 2001. During a typical year, residential construction accounts for about five cents of every dollar spent in the U.S. economy, making home building one of the largest and most influential industries in the country.

NAHB's annual International Builders' Show is the largest trade show/exposition of its kind in the U.S. It attracts more than 70,000 attendees, sells more than 600,000 square feet of exhibit space to more than 1,000 exhibitors and includes about 200 educational programs. The next show will be held in Atlanta in mid-February 2002.

For more information on the show, visit www.buildersshow.com. For more information on the Remodelers' Show, visit www.remodelersshow.com.