Times Mirror to Sell CRC Press to Information Ventures LLC

Business Wire, Dec 5, 1996

LOS ANGELES--(BUSINESS WIRE)--Dec. 5, 1996--The Times Mirror Company and Information Ventures LLC, a company owned by Warburg, Pincus Ventures, L.P. and Mason Slaine, an investor, announced today an agreement for the sale of the assets of CRC Press, Inc. by Times Mirror to Information Ventures LLC. Times Mirror previously announced that it was selling CRC Press in conjunction with the divestiture of its Higher Education Group. Terms of the transaction were not disclosed.

CRC Press, located in Boca Raton, Florida, publishes scientific and technical information and includes among its many publications the prestigious Handbook of Chemistry and Physics. The company was founded in 1901 and acquired by Times Mirror in 1986.

Warburg, Pincus Ventures, L.P. is a private equity fund managed by E.M. Warburg, Pincus & Co., Inc., a New York venture banking firm.

Times Mirror (TMC--New York and Pacific Stock exchanges), a Los Angeles-based news and information company, publishes the Los Angeles Times, Newsday, The Baltimore Sun and other newspapers; books, CD-ROMs and other professional information for the legal, aviation, medical and training markets; and consumer and national magazines.

CONTACT: The Times Mirror Company, Los Angeles

Martha H. Goldstein, 213/237-3727 (media)

Jean M. Jarvis, 213/237-3955 (investors)