FOR IMMEDIATE RELEASE

April 2, 2002

JENNIFER BOES, 302.672.6811

(Wilmington, Del.) -- Governor Ruth Ann Minner and Wilmington Mayor James M. Baker announced today that New York-based Advance Magazine Publishers, Inc. would locate its new shared services center in Wilmington. The center will create more than 250 jobs when it becomes fully operational in early 2003, and that number is expected to double within the next few years.

Divisions of Advance Magazine Publishers, Inc. include Condé Nast Publications, Fairchild Publications, The Golf Digest Companies, The Condé Nast Bridal Division, Ideas Publishing Group, Parade Publications, and CondéNet.

Governor Minner said, "Thanks to the teamwork of State and City economic development officials, we were able to successfully attract one of the nation’s top publishing companies to Delaware. I am very pleased that Advance Magazine Publishers, Inc. has chosen to develop a significant presence in our state."

The new shared services center will occupy approximately 100,000 square feet of the Hercules building on 1313 Market Street. The center will be responsible for functions related to supporting the company’s accounting & finance, human resources, and information services and technology operations.

Mayor Baker said, "We welcome our new corporate neighbor and its employees with open arms. Wilmington's appeal to a company such as Advance Magazine Publishers speaks to the strength and attractiveness of our local business climate and the quality of life in our City. My thanks to Advance Magazine Publishers for selecting Wilmington and to the City and State economic development teams for bringing this business and government partnership to a successful conclusion."

Advance Magazine Publishers, Inc. is developing this new center in Wilmington as part of an effort to enhance the coordination and efficiency of services utilized by each of its seven publishing divisions.

Delaware Economic Development Office officials and the City of Wilmington have been working together since February 2002 in attracting Advance Magazine Publishers, Inc. to Delaware.

John D. Wik, Director of the Delaware Economic Development Office, said, "Delaware's low cost of doing business, readily available office space, and accessibility to major metropolitan areas put us at the top of the list when the company was considering sites. It was the coordinated efforts between the City, State and Hercules that ultimately earned Delaware the project."

As Hercules has become a smaller company in recent years, its space requirements at Hercules Plaza have been reduced. The building is one of Wilmington’s premier business addresses with a diverse base of prestigious tenants. Hercules continues to occupy approximately half of the building.

John Riley, Director of Public Affairs for Hercules, Inc., said, "Hercules welcomes Advance Magazine Publishers to Delaware and the Hercules Plaza. We are pleased to have been part of the team attracting this important company to Wilmington."