irday05 presentation

Investor day : Investor day 16th November 2005


Investor day : Investor day David Levin CEO 16th November 2005


Agenda : Agenda Introduction CMP Asia Coffee CMP Media Balance Sheet Conclusion and Q&A David Levin Peter Sutton Steve Weitzner Nigel Wilson David Levin


UBM Today : UBM Today UBM is now a simplified, focused company CMP PRNewswire £750 million assets sold over the last year Invested £100 million in new assets


UBM Strategy : UBM Strategy Connect buyers and sellers through events, print and online Build leading positions in chosen sectors and verticals Continue focus on strong financial returns


UBM Connects Buyers and Sellers… : Sellers Buyers Online Banners & sponsorship E-mail newsletters Webinars Paid search PRN News distribution Print Controlled circulation magazines Display Classified Directories Listing Subscriptions UBM Connects Buyers and Sellers… Events Exhibitions Conferences Training


UBM Top 7 Sectors exceed 90% of revenue : UBM Top 7 Sectors exceed 90% of revenue *2004 Proforma revenue


Build Leading Positions : Build Leading Positions Organic business development Acquisitions & JVs that build advantage Operational efficiencies


Current Distribution of Revenue : 8% 3% 12% 28% 27% 20% 60% 64% 70% 68% 40% 100% UK Continental Europe CMP US Asia / Pacific PRN Source: 2004 proforma Current Distribution of Revenue Underlying growth 03/04 PRN: 10% CMP Asia: 10% CMPi: 3% CMP: - UBM proforma revenue Print 57% PRN 14% Events 23% Online 6% 24% 16% 33% 11% 15% 100%


Rebalancing the portfolio : Rebalancing the portfolio Q1 Q2 to date 1.4 6.8 41 -36 10 23.5 -45 -35 -25 -15 -5 5 15 25 35 45 Tissue World The Publican France Presse Exchange & Mart Informex Barshow ICMI Light Reading Techonline ABI 2004 Turnover £m


Build Leading Positions - Events : Build Leading Positions - Events


Build Leading Positions - Print : Build Leading Positions - Print


Build Leading Positions - Online : Build Leading Positions - Online


Emerging markets strategy : Emerging markets strategy Opportunities for PRN & CMP in BRIC countries over time Business development team in Hong Kong UBM office opening in Mumbai PRN – All 25 Nasdaq-listed companies in China are clients Focus on steady flow of small development deals Successful JV track record


Strong financial returns : Strong financial returns UK GAAP DPS EPS 2002 2003 2004 2002 2003 2004


CMP Asia Management : CMP Asia Management Peter Sutton – CEO CMP Asia 2004 turnover $80m; operating profit $25m CEO since 2000 Exceptional track record of business success in Asia Consistently strong revenue and profit growth


Investor day : Investor day Peter Sutton CEO CMP Asia 16th November 2005


CMP Asia: The business today : Number of staff: 455; Offices: Hong Kong, Beijing, Guangzhou, Shanghai, Tokyo, Seoul, Singapore, Taipei, Bangkok; Number of exhibitions: 79; Number of publications: 18; Number of exhibitors: 15,324; Number of visitors: 818,398 By Country / Region By Sector Exhibitions: 85% Publishing: 15% CMP Asia: The business today Leather & Fashion


Industries served by CMP Asia today : Our media serving these industries account for over 75% of CMP Asia’s revenues. Industries served by CMP Asia today Cruise & Shipping Industrial technology Building & Ceramics Food & Pharmaceutical Ingredients Paper Aquatic Jewellery Leather & Fashion Beauty & Natural Health Furniture & Interiors


B2B media for the four industries in Asia : Many small publications and exhibitions, but large exhibitions clearly the preferred marketplace today Estimated annual revenues: US$320m Total B2B media for the four industries served: Exhibitions: 195 Publications: 140 Dedicated commercial websites: 48 Publications CMP Asia: Revenue by type of media CMP Asia has 20% total media market share and 30% share of exhibitions serving these four industries. B2B media for the four industries in Asia Exhibitions Online Publications Exhibitions Online


CMP Asia: Connecting buyers and sellers : CMP Asia: Connecting buyers and sellers The four industries share these characteristics:  B2B trade of consumer products Fashion driven, frequent new designs, high product turnover Many buyers and sellers at different stages of production Global trading, mostly out of Asia today They depend heavily on frequent large trade fairs as key marketplaces where real trading occurs: Many orders are placed during the fair Multiple layers of buyers and sellers Many small and medium sized companies attend New products and designs on display


CMP Asia: Creating the marketplaces for each business community : CMP Asia: Creating the marketplaces for each business community The heart of CMP Asia today is to create the big marketplaces that attract thousands of key sellers and buyers to do business


CMP Asia: Creating the marketplaces for each business community : CMP Asia: Creating the marketplaces for each business community Total customer base for the four groups:  Over 11,500 exhibitors, bringing 80,000 personnel, from over 60 countries/regions Over 530,000 visitors, from over 130 countries/regions We know them all - and mostly what they buy and/or sell


Total visitors to the major HK fairs : Hong Kong China Asia/N Zealand/ Australia Europe/America/ Africa Total visitors to the major HK fairs


Multiple layers of buyers and sellers do business at one fair : Gems Pearls Diamonds Technology Traders Traders Traders Jewellery manufacturers Jewellery manufacturers Jewellery wholesale & retail exhibitors visitors sell / buy Packaging Technology Multiple layers of buyers and sellers do business at one fair


CMP Asia: The Jewellery Group : CMP Asia: The Jewellery Group Exhibitions The main event: Hong Kong Jewellery & Watch Fair, September, 60,000 sqm; exhibitors: 2,000; visitors: 40,000 (50% from outside HK) June Hong Kong Jewellery & Watch Fair Asia’s Fashion Jewellery & Accessories Fair, June, Hong Kong Asia’s Fashion Jewellery & Accessories Fair, September, Hong Kong China International Gold, Jewellery & Gem Fair, Shenzhen China International Gold, Jewellery & Gem Fair, Guangzhou China International Gold, Jewellery & Gem Fair, Shanghai Japan Jewellery Fair, Tokyo Publications Jewellery News Asia, Hong Kong Jewellery News Asia – Chinese Edition, Hong Kong Four Seasons of Jewellery, Tokyo


Slide27 : Asia’s biggest jewellery fair and publication give mutual sales and promotion exclusivity CMP Asia: Media Market Focus


Slide28 : Exhibitions The main events: Asia Pacific Leather Fair, Hong Kong, March: Materials, Manufacturing & Technology Fashion Access 43,000 sqm; 2,600 exhibitors; 45,000 visitors (53% from outside HK) Fashion Access, October, Hong Kong All China Leather Exhibition, Shanghai China International Footwear Fair, Shanghai Moda Shanghai CMP Asia: The Leather & Fashion Group


Slide29 : Exhibitions The main event: Cosmoprof Asia, Hong Kong, November, 40,000 sqm; over 1,000 exhibitors; 40,000 visitors (45% from outside HK) The Natural Health Fair, Hong Kong The main event: Tokyo Health Industry Show, Tokyo March, 26,000 sqm; 510 exhibitors; 46,000 visitors Diet & Beauty Fair, Tokyo Publications The Health Industry News, Tokyo Diet & Beauty, Tokyo CMP Asia: The Beauty & Natural Health Group


CMP Asia: Media Market Focus : Biggest fair and publication are organised by one management team Natural Health Group in Japan: CMP Asia: Media Market Focus


CMP Asia: Furniture & Interiors Group : CMP Asia: Furniture & Interiors Group Exhibitions The main event: Furniture China, Shanghai September, 108,000 sqm; 1,420 exhibitors; 60,000 visitors (14% from outside China) Furnishings, Fabrics & Lighting China, Shanghai Furniture Manufacturing & Supply China, Shanghai Office Furniture China, Shanghai Home – Fashion & Design, Shanghai Hotelex, Shanghai Hotelex, Beijing Hotelex, Guangzhou Publications China Furniture


CMP Sinoexpo: A leading fair organiser in China : Furniture China Hotelex Food Ingredients Pharmaceutical Ingredients Joint venture established in 1998 Headquarters in Shanghai, with offices in Beijing and Guangzhou 21 exhibitions held every year, organised by 93 staff Most exhibitions are held in Shanghai Co-organisers include leading trade associations Objective to build large must-attend events Ideally to serve both foreign and domestic trade Expo Build China Ceramics China China International Boat Show Key exhibitions CMP Sinoexpo: A leading fair organiser in China


CMP Asia: Key principles of operation : Maintain high quality events through continuous review and innovation Search for new media and new markets through acquisitions Launch new products, mostly extensions into related markets Build strong positions in mainland China Strengthen our position in India Develop further on-line media products Be market focused: Provide the media our customers need CMP Asia: Key principles of operation


Investor day : Investor day Coffee break 16th November 2005


Investor day : Investor day CMP Media 16th November 2005


CMP Media Management : CMP Media Management Steve Weitzner – CEO CMP Media 2004 turnover $400m; operating profit $50m CEO since 2005 Accelerated move to online, webcasting & custom publishing Identified and integrated acquisitions Turned around performance of electronics business


Investor day : Investor day Steve Weitzner President and CEO CMP Media 16th November 2005


CMP Media Strategy : CMP Media Strategy Connect buyers and sellers through events, print and online Deepen our relationship with our customers: audiences and marketers Diversify product mix through internal development and acquisition


Connecting buyers and sellers through market leading print, events and online channels : 200+ Events Worldwide Forums Conferences Expos Roundtables Print Online Events Connecting buyers and sellers through market leading print, events and online channels 150 B2B Publications Worldwide 42 U.S. Owned 106 Worldwide Represented or Owned 5.4 Million Subscribers 160+ Websites Worldwide 2.8 Million U.S. Email Newsletter Subscribers 325 eSeminars per year


Connecting sellers to target audiences: over 5 million across a range of markets : Enterprise & IT Management IT Solution Providers / Value-Added Resellers Electronic Systems Design & Management Software Developers Call Center Management Educators & MIS/IS/IT in Education Game Developers & Industry Professionals Healthcare Practitioners & Specialists Music Pros & Enthusiasts Microsoft Oracle SAP Component Manufacturers Intel Texas Instruments Symantec Business Objects CA CMP Applied Technologies Group CMP Enterprise Group CMP Channel Group CMP Electronics And Software Group CMP Healthcare Group CMP Entertainment Group Pfizer GSK Siemens Merck Novartis GE Fender Crate Yamaha Roland Technology Connecting sellers to target audiences: over 5 million across a range of markets Software Companies Health- care Lifestyles Sellers Buyers Big Pharma Music Cos. Cruise Operators Health & Beauty Product Developers CMP Princeton Group Sea trade. Seaports Shipbuilders Equipment Food Packaging Design Ingredients Marketing Beauty development.


B2B Technology = 68% Revenue : B2B Technology = 68% Revenue Online and Events Revenue Increasing as Share of Total


Builders, Sellers and Users of Technology : Networks Software Builders, Sellers and Users of Technology Electronics Channel Enterprise Communications


Paths to profitable growth : Paths to profitable growth Build new revenue streams, leverage leading positions Use online to broaden and deepen audience relationships Continue to launch new products and weed out weak Deliver custom solutions Acquire online and events companies that broaden our audience reach or product capabilities


Slide45 : 1. Lead Generation & Sales Generation 2. DB Marketing & Analytics 6. Vertical industry/technology media offerings Strengthen our leading positions by building out new revenue streams Leveraging InformationWeek Brand and Audience


Slide46 : Online growing rapidly 23.5% CAGR Webcasts (# of events)


Online strategy: refine and diversify content delivery, add value to audience database : Online strategy: refine and diversify content delivery, add value to audience database Content Repository allows reuse of content across CMP websites Intelligent content targeting Common Audience Registration System Users identification / tracking Merge data from event & print lists Supports specialized content offerings and DB marketing Added capabilities Audience marketing DB marketing Lead generation InformationWeek CRN EE Times Dr. Dobb’s Network Computing etc.


The News Show – launched 6/05 : The News Show – launched 6/05 First daily B2B tv show on the Web produced for technology professionals Experienced tech editors from InformationWeek, Network Computing and TechWeb Remote reporting via laptops, any location Information, education and entertainment Unique advertising opportunities


Small Business Portal – 1Q06 launch : Small Business Portal – 1Q06 launch CMP Smart Solutions SMB Portal Target: Firms with 1-100 employees Educational tools Help with technology implementation Over 7.5m small businesses in US Expected to grow at 7%1 in coming years versus 3% for large businesses Starting with audience of 300,000 already in database 1 Cisco Systems, Press release, August 15, 2005


Online acquisitions: adding audiences and business models : Online acquisitions: adding audiences and business models Content Marketing Free Websites Paid Research Conferences Webinars Tradeshows Entry to communications technology vertical Web-centric platform drives high-margin businesses like research and small events CMP websites remodelled at Light Reading New online businesses: engage audience with education and product evaluation Strengthens electronics group with new functionality and worldwide audience of 355,000 engineers


Customization: meets demands for targeted audiences and breakthrough messaging : Revenue Growth 2002-2004 Customization: meets demands for targeted audiences and breakthrough messaging


Contract Publishing: Microsoft : Contract Publishing: Microsoft Microsoft and CMP Media publications TechNet Launched Fall 04 100,000 circulation Audience: IT/Network Technology Leadership (including IT Manager/Director, Systems Administrator/Manager, CTO/CTO/CSO), IT Solutions Technical Expert/Staff (including Infrastructure Architect, Developer, Solutions Architect) Corporate Business Management (including CEO, President, CFO) msdn 75,378 circulation Audience: advanced-level application developers, Web developers, and developer managers who perform pivotal functions such as software development, design and analysis.


Slide53 : Custom Websites: Building communities for our customers CMP exploits advantages to create custom programs for its key customers. Sites feature editorial from across CMP’s editorial groups And draw on audiences from across technology spectrum IBM’s objectives: Increase awareness among mid-market companies Build preference for IBM's Express products via breakthrough messaging opportunities Intel and partners objectives: build a community with leading ISVs to provide a comprehensive set of software tools, services, architecture specifications and training programs to help design better mobile software.


Slide54 : Buyer Connection Program leverages relationship with our audiences Webcasts Live Events White Papers Microsites Lead Generation “Events” Basic access to qualified buyers Fast return, easy-to-execute Low cost per lead Lead Express Greater level of buyer detail Multiple campaign elements Lead info supplemented with behavioral and demo data Lead Optimizer High-end lead program Comprehensive detail Completely customizable Assesses “time with brand” Lead Nurture Connects vendors with tech buyers interested in their products and services Guarantees qualified buyers at small, medium, large companies Depth of information about technology buyers unique to CMP Media


CMP–CyberMedia Joint Venture : CMP–CyberMedia Joint Venture Global media portfolio on worldwide services Publication and website – January 2006 New York City Event – February 2006 JV with CyberMedia, India’s largest IT publisher Cybermedia contributes content, sales to Indian customers CMP contributes audience development in U.S. and Europe, content, events management Leverages CMP’s relationship with existing audience against a new set of sellers North American BPO market to grow to $110 billion by 2009 (Gartner Dataquest) www.globalservicesmedia.com


CMP Media - Conclusions : CMP Media - Conclusions Our business is connecting sellers with buyers Growth is driven by adding audience and diversifying our product mix Customization supports breakthrough messaging to targeted audiences Broad Online Websites Trade Shows Industry Publications Newsletters Conferences/Seminars Corporate Publications Custom Sites NetSeminars Road shows/XChange events Buyer/Seller Encounters Lead Nurture Microsites Vertical Publications


Investor day : Investor day Nigel Wilson CFO Balance Sheet Simplification, Transparency and Shareholder Value Creation 16th November 2005


Creating value though using our balance sheet strength : Creating value though using our balance sheet strength 1. We have taken a number of actions which have simplified our P&L and balance sheet, these include £730 million of disposals, £100 million of acquisitions, £500 million of buybacks and reduction of the tax creditor by £100 million 2. These actions have helped to increase our share price – however we still retain a very strong balance sheet with positive net cash of around £250 million 3. We remain committed to further transparent shareholder value enhancing transactions - retain our commitment to our acquisition financial criteria - continued emphasis on cash conversion - reduce pension and tax liability – increase transparency - dispose of assets where value is created - continue to return funds where appropriate


Acquisitions, Disposals & Financial Transactions : Acquisitions, Disposals & Financial Transactions Acquisitions in '05 £M France Presse 24 The Publican 21 Light Reading 15 Informex 13 ABI 12 Other 13 98


Slide61 : Share Price Performance - Last 12 months GBp (Rebased to UBM) Share Price UBM Sector FTSE Last 3 months 2.0% (2.2%) 2.1% Last 6 months 15.5% 1.2% 12.4% Last 12 months 18.2% 3.3% 16.3% Last 3 years 123.5% 23.8% 41.9 % Last 5 years (34.9%) (49.6%) (11.1 %) Market Overview


Market OverviewSummary of Current Analyst Sentiment : Historical Broker Recommendations Current Broker Recommendations 19 19 20 20 19 19 21 19 20 20 21 21 Share Price (p) No of Brokers Market Overview Summary of Current Analyst Sentiment


Acquisitions:Disciplined approach maintained : Acquisitions:Disciplined approach maintained Financial criteria remain consistent. 1. 8% post tax ROCE 2. Benchmarked against capital return. Business criteria remain consistent 1. Exhibitions that complement our existing portfolio. 2. Rich content that deepens our customer and product offering in specific verticals. Online that allows us to have a product offering more cost effectively than build. Experienced integration teams with pre agreed financial metrics * Note: we report actual financial returns achieved, e.g. ’03 acquisitions produced pre tax returns of 13% in 2004 (p 14) B2B Acquisitions 2002-2005 £m


Cash conversion: 116% average over 3 years : Cash conversion: 116% average over 3 years


Improving transparency of pensions : Improving transparency of pensions Pensions analysis is complicated by the myriad of measures (MFR, Funding, IAS19, Buyout), however the assets are known (around £360 million) and the cash flow of the liabilities can be calculated FRS17/IAS19 does not necessarily provide either an adequate measure of the financial condition of the pension fund nor an appropriate measure of the cash position The deficit/surplus of our 3 main defined benefit pension funds depends critically on the discount rate chosen, and also the mortality assumption. (Note FRS17 aggregate deficit was estimated to be approx £80m at end 2004) We have made around £12 million of additional contributions in 2005; a further £8 million is planned by year end


Tax: Active management key to value creation : Tax: Active management key to value creation 1. We have an accounting tax charge of 20%, however our cash paid in ‘03, ‘04 and H1’05 was as follows: In ’05 we purchased £120 million of five’s tax losses for £16 million (£3.1million in H1 ’05) – this will help to reduce the tax cash outflow in future years 3. At Dec ’03 our tax creditor was £308.5 million (p 58AR). At Dec ’04 it was £208.0 million – a reduction of £100.5 million 4. In ’03 Annual Report we said “We do not expect the cash outflow in 2004 in respect of this creditor to exceed £15 million” (p 20AR) – actual outflow was £0.3 million 5. In our ‘04 Annual Report we said “We do not expect the cash outflow in 2005 in respect of this creditor to exceed £20 million” (p 14AR) – actual outflow in H1 was £2.1 million. In addition we have spent a further £13 million in respect of Five losses in H2


Return of cash to shareholders : Return of cash to shareholders 1. We have increased our dividend per share from 7p in ’02, to 9p in ’03, to 12p in ’04 – a 71% increase in 2 years At the beginning of ’05 we had 335 million ordinary shares and 47.8 million convertible bond shares, in total 382.8 million special dividend of £300 million reduced ordinary shares by 60 million other repurchases reduced ordinary shares by around 3 million convertible repurchases reduced shares by around 19 million 3. As of today we have around 300 million shares (fully diluted) – cancelled shares and bonds


Conclusion : Conclusion We remain committed to further transparent shareholder value enhancing transactions retain our commitment to our acquisition financial criteria continued emphasis on cash conversion reduce pension and tax liability – increase transparency dispose of assets where value is created continue to return funds where appropriate


Investor day : Investor day David Levin CEO Conclusions 16th November 2005


Summary : Summary UBM today is a focused business TSR is one of our management metrics We’re building leading positions We’re investing in growth Our acquisition criteria are strictly disciplined


Investor day : Investor day David Levin CEO Q&A 16th November 2005


Investor day : Investor day 16th November 2005


Appendix 1 : Appendix 1 CMP Asia


Asian trade fair market by estimated revenue : Estimated Average No. of Events revenue in US$M revenue per fair China 555 623 1.1 Japan 476 593 1.2 Hong Kong 56 191 3.4 Korea 141 142 1.0 India 130 68 0.5 Taiwan 47 63 1.3 Singapore 53 55 1.0 Thailand 65 43 0.7 Indonesia 56 30 0.5 Malaysia 41 28 0.7 Philippines 62 25 0.4 Pakistan 17 10 0.6 Vietnam 48 8 0.2 TOTAL 1,747 1,885 1.1 Source: BSG Research, UFI, July 2005 2004 Asian trade fair market by estimated revenue


Top 10 organisers in Asia by area sold : Revenue Ranking Regional Organiser Position HQ 1 China Foreign Trade Centre Group 1 Guangzhou 2 Hong Kong Trade Development Council 2 Hong Kong 3 CMP Asia 3 Hong Kong 4 China Council for the Promotion of Int’l Trade 7 Beijing 5 Reed Exhibitions 4 Singapore/Beijing 6 Allworld Exhibition – Asia 5 Various 7 Dongguan Famous Furniture Association 11 Dongguan 8 TAITRA 9 Taipei 9 Japan Management Association 6 Tokyo 10 Messe Frankfurt 10 Hong Kong Source: BSG Research, UFI, July 2005 2004 Top 10 organisers in Asia by area sold


Appendix 2 : Appendix 2 CMP Media


Expert insight and targeted access to a diverse audience of more than 5 million : Expert insight and targeted access to a diverse audience of more than 5 million Technology Focused Enterprise & IT Management Over 1 million IT & corporate management professionals IT solution providers / Value-Added Resellers Over 300,000 IT solution providers (“the Channel”) across the US and Canada Developers of Electronics Systems Over 200,000 engineers, technical and OEM/EMS managers, across the electronics industries Software Developers Over 500,000 software developers & managers of the applications development process Call Center Management & Support Over 100,000 executives and professionals covering all facets of call center operations Educators & MIS/IS/IT Management in Education Over 150,000 educators and managers, both at district and school level Game Developers & Industry Professionals Over 100,000 subscribers and attendees, reaching 75% of global game developer community Entertainment Technologists Over 200,000 qualified subscribers with interests in audio, video, systems and education Healthcare Practitioners & Specialists More than 1 million physicians, nurse practitioner, clinicians, researchers, and other healthcare specialists Music Professionals & Enthusiasts More than 300,000 musicians, composers, instructors, producers & other professionals and enthusiasts Cruise Shipping Operators 10,000 cruise line owners and operations from over 100 countries, through our industry leading event Health & Beauty Product Developers 20,000 health & beauty professionals in over 60 countries, through HBA event and awards


Audience database: share richer understanding of audience with our customers : Audience database: share richer understanding of audience with our customers CMP Media Audience Registration Database (CORE) Online Performance Online Registration F2F Events Research WebCasts Print Newsletters Partner Data Data Products CMP Audience Database Support Analytics & Modeling Custom Data Solutions Data Licensing List Rental Overall Audience Growth


Leading technology companies demand global capabilities to reach high growth markets : (1) Intel Corporation 2004 Annual Report, (2) IDC, (3) Price Waterhouse Coopers (4) Cisco Systems Press Release, October 19, 2005 (5) Donn Atkins, IBM General Manager of Global Business Partners (6) 2005 IT Spending Consensus Report, Analyst Views (Mar 2005) Leading technology companies demand global capabilities to reach high growth markets 23% of Intel’s 2004 revenue from ‘Americas’ 1; 45% from ‘Asia Pacific’ U.S. consumes only 34.4% of IT products & services among top 11 countries ranked by spend 2 Media & Entertainment spend in China projected to rise 25% annually to 2010 3 Cisco to invest $1 billion in India over next 3 years 4 Analyst Estimates of IT Spend 6 North America: +7% CAGR 2005-7, Forrester + 5.4% from 2005, CIO Magazine Poll +5.9% CAGR 2006-8, IDC Asia Pacific (excluding Japan) +7.1% CAGR through 2008, Gartner +10%, IDC China -- +15%, IDC India -- +22%, IDC


Worldwide Integrated Marketing: HP : Worldwide Integrated Marketing: HP HP Marketing Challenge: Reach out to HP customers and partners around the world, to evangelize HP’s SMB initiatives and relevant products. Editorially, CMP expands on HP’s four core “identifiers” for the SMB market. CMP Solution: Localized and Regionalized content written, by country, and by audience, to HP’s target of IT end users, channel and verticals. Content localized to fit the unique local needs of HP customers around the world. Media Implementation: 4 part, 6-Month Integrated Media Series, 8 countries 22 Publications. Media inclusive of print inserts, 6 global microsites, three white papers. Based upon success of ’03 Program, HP increases scale and scope of ’04 Program and repeats in ‘05