Interactive Media -- Meredith's interactive media business includes 26 branded Web sites with a variety of content, marketing and e-commerce applications. A primary Group initiative is expanding and accelerating our Internet-related efforts on a company-wide basis to extend our solution-oriented home and family content expertise, generate significant revenues and reduce costs.

Meredith's approach is driven around four major initiatives:

• Developing the premier home and family Internet site, with extensive and unique content and applications in our core content areas of decorating, food, home improvement and remodeling. We will use our flagship site, bhg.com, as the launch platform.
• Enhance the Internet presence of our television stations as an extension of their brand identities and local news presence.
• Generating significantly more magazine subscriptions online.
• Expanding our business development efforts, including our program of strategic alliances and equity investments in Internet partners.

Integrated Marketing - Meredith's integrated marketing business uses the company's extensive resources to create complete end-to-end marketing communications programs that build enduring relationships between consumers and our clients' brands. These resources are based on our consumer insight, editorial expertise and distribution resources.

We have established integrated relationships with several of the country's leading companies and brands, such as The Home Depot, Kraft, Nestlé, Lutheran Brotherhood, Iams, Del Monte, Healthy Choice, United Healthcare, The Principal Financial Group and Kodak, among others. To visit our Integrated Marketing site, go to www.meredithim.com.

Consumer Database -- Meredith's consumer database is one of the company's most valued resources, containing more than 60 million names and information on seven out of 10 home-owning U.S. households. Because of the great breadth and depth of the data - an average of 300 data points per household - we can identify, select, market to and retain customers efficiently and effectively. Its value in one-to-one marketing extends to our marketing and advertising clients in addition to our publishing and broadcasting brands.