Condé Nast Portfolio has been chosen as the name of the new business magazine being
developed by Condé Nast Publications, it was announced today by Joanne Lipman,
Editor-in-Chief, and David Carey, Group President and Publishing Director, Business Media
Group. The magazine will publish a premiere issue in May, 2007, on sale April 24th,
and will begin monthly publication in September, 2007. A companion website, with unique
content and interactive tools, will go live on April 24, 2007 at cnportfolio.com.

Condé Nast Portfolio will feature the high caliber of writing, photography, and design that
readers of Condé Nast magazines have come to expect. Early circulation efforts will capitalize
on the company’s newsstand authority, and will also take advantage of Condé Nast’s
existing relationship with millions of top management readers, as well as the database of
American City Business Journals, a unit of Advance Publications.

Condé Nast Publications, a unit of Advance Publications, includes twenty-eight consumer
magazines, five business to business publications, five destination web sites, the Condé Nast
Media Group, and the Shared Services Centers.