Nfo Research, Inc. Launches Access Panel Services In Europe; Enters Joint Venture With Major European Market Research Company

Business Wire, June 20, 1995

GREENWICH, Connecticut--(BUSINESS WIRE)--June 20, 1995--NFO Research, Inc. (NASDAQ:NFOR) today announced that it has signed an agreement in principle with IPSOS, S.A., a major European marketing research firm, and L & T Participations, an IPSOS affiliate, to launch access panel activities in Europe.

Under the terms of the agreement, NFO, IPSOS and L & T have agreed to launch joint venture companies, initially in five western European countries. Operations will begin during 1995 in France, Germany and the United Kingdom. Operations in Italy and Spain will commence in 1996. NFO, IPSOS and L & T also plan to launch access panel companies together in additional European countries as the market potential is established. Formal contracts containing customary closing conditions are expected to be signed by mid-July 1995.

NFO is the eighth largest U.S.-based marketing research firm and the leading provider of access panel services in the United States. IPSOS, headquartered in Paris, is the fifth largest marketing research firm in Europe, providing marketing research services in nine European countries.

Under the terms of the agreement, NFO initially will have approximately an 18% interest in the joint ventures but has the option, at its own discretion, to increase its ownership interest to 50% during the next seven years by purchasing L & T's interest. L & T has the right to sell its joint venture interests to NFO anytime after three years. As a part of the agreement, NFO will purchase a comparable portion of IPSOS' existing access panel businesses in Germany and France.

William E. Lipner, NFO's Chairman and Chief Executive Officer, stated, "We are extremely excited about our new joint venture with IPSOS. We view this alliance as an opportunity to combine the strengths of two leading marketing research organizations, both of whom take great pride in nurturing entrepreneurial cultures. IPSOS provides the venture with a strong network of existing European marketing research companies which have extensive local market knowledge, strong client relationships and state-of-the-art technical and production facilities. We believe that our joint access panel activities will be very well received by European, as well as American, multinational corporations operating in Europe."

Didier Truchot, IPSOS' co-founder, Chairman and Chief Executive Officer, added, "IPSOS is the fastest growing research firm in Europe, and we see the opportunity to offer to our clients a new tool across their major markets. NFO is the perfect partner to help pioneer the much needed access panel business in Europe. NFO has proven systems, know-how, marketing expertise, and deep relationships with American multinational companies. With our combined resources, we can offer European clients a high quality, cost effective sampling source. The strengths of our two organizations are very complementary and will contribute greatly to the success of our new ventures."

NFO Research, Inc. is a leading provider of market research services using the world's largest pre-recruited consumer panel, consisting of 475,000 households and over 1.2 million people. The Company has over 500 clients, including 30 of the 34 packaged goods manufacturers in the list of the Fortune 100 industrial companies and 22 of the top 25 U.S. bank holding companies.

CONTACT: NFO Research Inc.

Patrick G. Healy

Executive Vice President - Finance and CFO

203/629-4627