PRIMEDIA’S REGISTERED REP. NAMES THE 10 PEOPLE WHO WILL SHAPE THE BROKERAGE INDUSTRY

Group Includes Elliot Spitzer, Charles Schwab and Harvey Pitt

New York - August 7, 2002 – This is clearly one of the most difficult periods Wall Street has ever had to endure. Who will lead Wall Street out of the current morass and into the future?

Registered Rep., as a magazine serving the brokerage community, will feature for the first time a profile of “The Ten Who Matter to the Brokerage Industry,” the executives, media and government officials with a strong influence over the industry. The group includes leaders from Wall Street as well as the government officials who are prosecuting corporate wrongdoers and creating new policies meant to prevent future abuses.

The following are included on Registered Rep.’s list of America’s most influential players:

· Charles Schwab – The Visionary Co-CEO and Chairman of The Charles Schwab Corp - Although many brokers regard him as enemy No.1, Schwab has an uncanny knack for capitalizing on brokerage trends and is a major player on the street.

· Peter Cieszko, Jr. – The Innovator Managing Director of Citigroup Asset Management – As the driving force behind multiple-discipline accounts, considered to be the hottest financial innovation for retail investors, Cieszko is among the top movers to watch in the brokerage business.

· William Nutt – The Manager Chairman and CEO of Affiliated Managers Group – Nutt has built an investment manager’s empire: A financial product factory offering a diverse lineup of managers representing different investing styles, from mutual funds to separate accounts to hedge funds.

· E. Stanley O’Neil – The Heir President and COO of Merrill Lynch - At a time of unprecedented investor cynicism and ongoing broker frustration, O’Neal stands poised to take over Merrill Lynch, the largest retail brokerage firm on Wall Street.

· Don Phillips – The Starmaker ­ Managing Director Morningstar – Perhaps no other institution holds such sway over the mutual fund industry as Morningstar. By playing a critical role in Morningstar’s expansion in the last decade, Phillips has a major influence on Wall Street.

· Bruno Cohen – The Producer ­ Executive Vice President for CNBC Business News – CNBC is one of the most influential news outlets for professional and amateur investors alike. Cohen, as head of business news, helps define the issues and has a tremendous impact on what corporate executives, money managers and financial advisors see every day.

· Abigail Johnson – The Scion President of Fidelity Management & Research - In charge of 280 mutual funds and with total assets under management of about $860 billion, Johnson is the most powerful woman in financial services.

· Eliot Spitzer – The Enforcer ­ New York State Attorney General – Spitzer forced the Street to face up to an industry-wide conflict of interest problem and has led the efforts to expose and punish white-collar crime on Wall Street.

· Harvey Pitt – The Judge SEC Chairman - Whatever reforms are enacted by Congress to prevent further corruption, the SEC will be responsible for carrying them out. According to many, Pitt may be the person who most significantly impacts the face of American business in the coming decades.

· Sanford Weill – The Legend Chairman and CEO of Citigroup – Weill started life as a broker and is now chairman and CEO of the largest financial services company in the world.

“Each of these individuals has had a significant impact on the financial services industry in general, and the brokerage industry in particular, over the past few years. We believe that these ten will continue to lead Wall Street through these challenging times,” said David Geracioti, editor of PRIMEDIA’s Registered Rep. magazine. “As we look ahead to the future, we believe it is critical to recognize the achievements and influence that they have on the current and long-term state of the investment community.”

The August issue of PRIMEDIA’s Registered Rep. magazine is currently available and additional information about the “The Ten Who Matter to the Brokerage Industry” can be found at www.registeredrep.com.

About PRIMEDIA’s Registered Rep. magazine

Registered Rep. is the preferred magazine of retail investment professionals. Each monthly issue reaches approximately 92,000 loyal subscribers who control trillions of dollars of assets for more than 30 million investors. These powerful financial advisers are licensed to sell a broad range of investment products and rely on Registered Rep.'s rich portfolio of timely features, articles, departments and columns. Registered Rep. is part of PRIMEDIA's Financial Services group that also includes Trusts & Estates, National Real Estate Investor and Shopping Center World. These are among the 90 PRIMEDIA Business Magazines and part of PRIMEDIA (NYSE: PRM), the world's largest targeted media company. More information about the Registered Rep. can be found at www.registeredrep.com.

About PRIMEDIA

PRIMEDIA is the new tradition in media. With 2001 sales from continuing businesses of $1.6 billion from a unique combination of traditional and new media properties, it is the leading targeted content and integrated marketing solutions company in both the consumer and business-to-business sectors. The Company is the #1 special interest magazine publisher in the U.S., with more than 250 titles such as Seventeen, Automobile, Motor Trend, New York, Fly Fisherman, American Baby, Telephony and American Demographics; the #1 producer and distributor of specialty video with 18 satellite and digital video product lines, including Channel One Network; and the #1 news and information group on the Internet, led by About.com. PRIMEDIA's stock symbol is: NYSE: PRM. More information about the Company can be found at http://www.primedia.com.

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Media Contacts: Hawley Strait, 212-446-1877

hstrait@sloanepr.com

Noelle Wojciehowski, 212-462-3658

nwojciehowski@primediabusiness.com