LONDON, July 29 /PRNewswire/ --

- H1 Revenues, Profits and EPS Ahead of Expectations; Interim Dividend 
Raised 15.7%

To view the Multimedia News Release, please click:
http://www.prnewswire.com/mnr/ubm/34213/

H1 2008 headline results

    Revenue                           Up 10.4%  to GBP445.6m (GBP403.5m)
    Adjusted group operating profit*  Up 11.4%  to GBP90.2m  (GBP81.0m)
    Earnings Per Share (adjusted)**   Up 15.0%  to 30.1p     (26.2p)
    Dividend Per Share                Up 15.7%  to 5.6p      (4.84p)

    - Profits at UBM's four technology businesses up 29% to GBP21.1m, margins
      exceed 20%

    - CMPMedica turnaround ahead of plan; profits up 44% to GBP17.3m

    - CMP Asia delivers strong profit growth of 30% to GBP9.5m

    - Four market-focused businesses created from CMP Information

    - PR Newswire increases investment in customer service systems & emerging
      economies

    - Commonwealth integrated OAG successfully; RISI performing strongly

    - Events, business information & news distribution generate 85% of H1
      profits

    - UBM margin maintained at over 20%

    - Acquisitions performing ahead of UBM's 8% post-tax cost of capital
      threshold

    - Strong balance sheet; net debt of GBP181.1m at 30 June

    - Strong cash generation - cash conversion up to 91% from 81%

* Adjusted group operating profit is group operating profit before
amortisation of intangible assets arising on acquisitions, exceptional items
and share of taxation on profit in joint ventures and associates (see page
6 of full release on UBM website).

** Adjusted EPS is before amortisation of intangible assets arising on
acquisitions, exceptional items, deferred tax on intangible assets and net
finance costs other than interest (see note 8 on page 22 of full release on 
UBM website).

Statutory results                     H1 2008      H1 2007
    Revenue                  Up 10.4%    GBP445.6m    GBP403.5m
    Group operating profit   Up 24.8%     GBP75.4m     GBP60.4m
    Profit before tax        Up 17.4%     GBP76.3m     GBP65.0m
    EPS (diluted)            Up 30.3%        24.5p        18.8p

David Levin, Chief Executive of United Business Media Limited said:

"United Business Media has achieved good results for the first half of
2008, delivering adjusted Earning Per Share growth of 15%. The Board has
declared an interim dividend of 5.6p, an increase of 15.7% over 2007's
interim dividend. We are on track to deliver another good full year
performance."

"United Business Media's consistent growth in earnings per share is
evidence of continued success in our strategic development of UBM as a set of
focused b2b media businesses which offer integrated suites of media products
tailored for specific professional and commercial communities. We continue to
direct our businesses towards vertical b2b markets and geographies that
provide opportunities for sustainable, profitable growth. Our businesses are
generating a growing proportion of their revenues and profits from products
which take advantage of the long term structural changes taking place in
media markets."

"In the first half of 2008 85% of our profits were derived from
tradeshows and exhibitions, business intelligence products and services, and
news distribution activities. We continue to drive strategic change within
our businesses, developing their organisational and management structures to
improve market focus, reshaping product portfolios to better meet customer
needs, and repositioning and expanding our businesses in growth markets. The
reorganisation of our technology business into four separate market-focused
operations in early 2008 is proving successful, with aggregate revenue growth
of 11.1% and margins exceeding 20%. Following this model we have implemented
a similar reorganisation at CMP Information, again creating four
market-oriented businesses. We believe the new businesses' greater
independence and agility, coupled with their improved operating cost
structure, will enable them to better meet the needs of the professional and
commercial communities they serve. Actions taken at CMPMedica have also
proved successful with good revenue performance and margins improving from
13.9% to 17.3% in the first half. We are investing to grow PR Newswire's
business in emerging economies, as well as in its online services and
customer support infrastructure and have reorganised its management to
achieve greater focus on sales and IT operations. In aggregate our events
revenues grew, as expected, by more than 10% in the first half of the year."

"Our balance sheet remains strong, the result of our disciplined approach
to the deployment of capital and our acquisitions continue to deliver results
ahead of UBM's 8% post-tax cost of capital. We continue to invest in
acquisitions of 'bolt-on' assets that complement existing UBM product
portfolios and businesses. In the year to date we have invested a total of
GBP32.1m in ten acquisitions. As conditions in credit markets and in some
geographies deteriorate further, we believe we will be increasingly well
placed to make selective acquisitions to accelerate the development of UBM
and its businesses."

Outlook

"With a proven integrated media business model and a set of diversified
businesses operating across a range of vertical markets and geographies, UBM
is well placed to weather the adverse economic conditions affecting some
markets and some geographies. Forward bookings across UBM's major events
scheduled for the second half of the year - including CPhI's flagship
European and Indian shows, Furniture China, the Hong Kong Jewellery & Watch
Fair and the Black Hat IT security show in the US - are 10% ahead of the
previous year. Bookings for key 2009 events - including the biennial events
Marintec China in Shanghai and Food Ingredients Europe in Frankfurt - are 10%
ahead of the previous events. We are on track to deliver another good full
year performance."

Contacts

    Media
    Peter Bancroft       Director of Communications
    E-mail               communications@ubmgroup.biz
    Direct telephone     +44-20-7921-5961
 
    Chris Barrie         Citigate Dewe Rogerson
    E-mail               chris.barrie@citigatedr.co.uk
    Direct telephone     +44-20-7282-2943
    Mobile               +44-796-872-72-89
 
    Analysts/Investors
    Email                investorrelations@ubmgroup.biz
    Direct telephone     +44-20-7921-5095
    Nigel Wilson         +44-20-7921-5019
    Andrew Crow          +44-20-7921-5940