Network Communications, Inc. Acquires Leading Multi-Family Publication in Fredericksburg, VA

Business Wire, Dec 10, 2007

Acquisition of Apartment Finder's Guide Adds To The Company's Rapid Growth in the Rental Guide Space

LAWRENCEVILLE, Ga. -- Network Communications, Inc. (NCI), the leading publisher of real estate information online and in print in North America, today announced the acquisition of its seventh title in the multifamily area this year. With this deal, the company adds Apartment Finder's Guide, the leading apartment rental magazine in the Fredericksburg, VA area, to its portfolio. The quarterly publication will be incorporated into NCI's leading Apartment Finder brand, extending the company's geographic footprint to 110 serviced markets across the United States.

This latest addition marks Apartment Finder's entry into the Northern Virginia region and continues the magazine's brisk pace of expansion in 2007. In the past five years, Apartment Finder has expanded its presence into 37 new markets through acquisitions and start-ups while continuing to be the preferred choice for consumers, as well as a key resource that advertisers rely on for the best leads in the industry.

"We are excited to welcome Apartment Finder's Guide of Fredericksburg into the Apartment Finder family," said Marcia Bollinger, Apartment Finder's senior vice president. "With this acquisition, we're going to give them a strong online distribution, proprietary Web capabilities and economies of scale to help it grow to its full potential, while we continue on our mission of being the fastest growing multifamily media source in the country."

"To be a part of NCI with its high-quality, award-winning magazines and leading Internet properties, is a huge win for us," said Michael Bognar, president, Apartment Finder's Guide magazine. "We look forward to the integration of the Apartment Finder business process which has raised the bar in this industry, and helped advertisers achieve optimum results for their marketing dollars.

In addition to Apartment Finder and Apartment Blue Book publications, NCI operates ApartmentFinder.com, the #1 consumer-preferred Web site with state-of-the-art searching and mapping features for apartment renters.

About Network Communications, Inc.

Network Communications, Inc. is the leading publisher of printed and online real estate information in North America. The company was acquired by Citigroup Venture Capital Equity Partners in January of 2005. Its magazines are read by over 12 million readers in over 500 markets and deliver more than one million leads to advertisers each month. Network Communications' assets, The Real Estate Book[R], Apartment Finder / Blue Book[TM], Mature Living Choices[R], Black's Guide[R], New Home Finder[R], Enclave[TM], Unique Homes[TM], Kansas City Homes & Gardens[TM], Atlanta Homes & Lifestyles, Atlanta Home Improvement, At Home In Arkansas, Relocating in Las Vegas, Colorado Homes & Lifestyles, St. Louis Homes & Lifestyles, Seattle Homes & Lifestyles, and Mountain Living, include publications that millions of readers around the country turn to when looking for the latest information about the real estate and home design markets. Online magazine content can be accessed at www.livingchoices.com.