The May Department Stores Company to Offer Comprehensive Internet Wedding Gift Registry Services Through Equity Partnership With WeddingNetwork.com

Business Wire, April 12, 2000

Business Editors

ST. LOUIS--(BUSINESS WIRE)--April 12, 2000

The May Department Stores Company (NYSE:MAY) and WeddingNetwork.com, the official on-line registry service for The Modern Bride Group, today announced they have signed a letter of intent to form the world's largest, Internet-based service center for engaged couples.

The site will include dynamic wedding-related content, registry, and gift sales.

WeddingNetwork.com will create sites for seven of May's eight regional store divisions, which operate 11 of the leading department store trade names in 129 U.S. markets: Hecht's, Strawbridge's, Foley's, Robinsons-May, Filene's, Kaufmann's, Famous-Barr, L.S. Ayres, The Jones Store, Meier & Frank, and ZCMI. These individual division sites will be fully integrated with the WeddingNetwork.com site.

"The wedding business is a very attractive e-commerce opportunity for May," said Gene Kahn, president and CEO of May Company. "Our nationwide registry and gift program through 343 of our 422 quality department stores is one of the country's largest. This takes our service one step further, extending our gift registry capabilities to the Internet. It is especially gratifying to have Modern Bride working to keep the site fresh, engaging, and vital to today's couples, together with the extensive Internet expertise of WeddingNetwork.com.

"These arrangements will give our divisions a premier position on the WeddingNetwork.com site and the added value of industry knowledge of Modern Bride Group," Mr. Kahn continued. "It will create an unparalleled wedding-based Web site for our valued customers."

"May Company and Modern Bride have had a great advertising partnership for many years," said Doug Fierro, group publisher of The Modern Bride Group. "This relationship with WeddingNetwork.com will only strengthen the partnership, generating more sales for May and more opportunities for the World's Largest Bridal Company to serve engaged couples and their guests."

"With the addition of May Company's portfolio of stores, WeddingNetwork.com is bringing together the nation's leading department stores, 50 years of wedding planning expertise through The Modern Bride Group, and an engaging Internet site," said Stephen Cunningham, founder and chief executive officer of WeddingNetwork.com. "This combined partnership leverages the strengths of each partner and redefines the wedding space."

Under the terms of the preliminary agreement, May is purchasing an equity stake in Internet Gift Registries. Modern Bride will provide marketing and dynamic content, as they currently do with WeddingNetwork.com; May will add its national bridal registry network, extensive merchandise assortments, and comprehensive in-store service capability; and WeddingNetwork.com will create the Internet framework and manage all site operations. The new sites are expected to be operational by late summer 2000.

WeddingNetwork.com is the most comprehensive on-line wedding resource, offering creative tools, imaginative ideas, and real answers to help engaged couples plan unique wedding celebrations. WeddingNetwork.com partners with a broad network of retailers to provide traditional and unique on-line gift registry options, planning tools, and private registry solutions for select retailers. The company is the official on-line registry and content partner for Modern Bride magazine, Modern Bride Connection's 16 regional publications, and ModernBride.com. WeddingNetwork.com is owned by Denver-based Internet Gift Registries, founded in 1997.

Primedia Inc. has an existing ownership position in Internet Gift Registries. Modern Bride magazine is a cornerstone in their consumer magazine group, providing engaged couples with information as they plan their weddings, honeymoons, and first home. Modern Bride magazine, combined with its on-line presence, ModernBride.com, is able to reach an engaged woman at every point of contact as she prepares for her wedding. The addition of May expands that contact both on-line and in her neighborhood.

The May Department Stores Company operates 422 stores in 36 states and in the District of Columbia. May sales reached $13.9 billion in 1999.