SOURCE: Hanley Wood

May 31, 2005 12:11 ET

Hanley Wood Launches UPSCALE REMODELING

WASHINGTON, DC -- (MARKET WIRE) -- May 31, 2005 -- Hanley Wood, the premier media company serving the housing and construction industry, is launching a new magazine: UPSCALE REMODELING. Publishing for the first time in October 2005, UPSCALE REMODELING is the only publication written exclusively for the select group of remodelers doing high-end remodeling projects.

"One of the strongest trends in remodeling is the emergence of a high-end market," says Peter Goldstone, President, Hanley Wood Magazines. "We are pleased to add UPSCALE REMODELING to our platform of products serving the fast-growing remodeling industry."

According to the Harvard Joint Center for Housing Studies, households with incomes in excess of $120,000 accounted for $43 billion in remodeling in 2003. Owners of homes valued at $400,000 or more fueled 90% of the growth in improvement spending between 1995 and 2003. All forecasts show that this upper end of the market will continue to drive growth in the remodeling industry.

"High-end remodelers are at the leading edge of a trend that is fueling growth in the remodeling industry, and they face unique challenges," says Rick Strachan, Hanley Wood Group Publisher. "UPSCALE REMODELING is the only publication written for high-end remodelers -- featuring cutting-edge design, the latest in high-end products, examples of best practices for all aspects of the upscale remodeling business and will provide a forum for idea exchange and community building."

UPSCALE REMODELING's launch issue is slated for fall 2005; with four issues scheduled in 2006. Circulation consists of 12,404 high-end remodeling firms with annual revenues in excess of $2 million whose projects include whole-house remodeling, additions, and major kitchen and bath alterations.

About Hanley Wood

Hanley Wood, LLC, is the premier media company serving housing and construction. Through five operating divisions, the company produces award-winning magazines and Web sites, marquee trade shows and events, rich data and custom marketing solutions. The company also is North America's leading provider of home plans.

Founded in 1976, Hanley Wood is a $225 million company owned by VS&A Communications Partners III, LP, the private-equity affiliate of media industry merchant bank Veronis Suhler Stevenson.

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