Highline Media Acquires Fraud International and Crackdown!

January 6, 2005 (Erlanger, KY) – The National Underwriter Company, a division of Highline Media LLC, recently acquired the rights to Fraud International from Phil Peart and MJM Investigations. With a circulation of 8,000, the FI audience is comprised of special investigative units in insurance companies, claims executives and corporate risk managers dedicated to fighting fraud in the industry. Fraudulent claims are estimated to be $100 billion each year.

Another recent acquisition, Crackdown!, a magazine with a similar mission in New York State also transfers to National Underwriter. Crackdown! has been published by CINN Worldwide alongside Insurance Advocate, which was acquired by National Underwriter in September 2004. The plan is to merge Crackdown! and Fraud International into one quarterly publication, with expanding frequency as market conditions warrant.

Phil Schreiner, the editor of National Underwriter’s Claims magazine, serves as Editor of Crackdown! Phil Gusman continues as Associate Editor. Harry Rosenthal serves as the Publisher of Crackdown! while Steve Acunto Jr., is Associate Publisher.

About Highline Media
Highline Media was formed in October 2003 by Spire Capital Partners, L.P., and headed by Andrew L. Goodenough, its President and Chief Executive Officer, to acquire business-to-business information assets in the financial services, insurance and real estate fields. Highline’s product set includes magazines, data, newsletters, conferences, websites, books and reference materials, delivered in print, electronic and live event form. Goodenough has more than 25 years’ experience in financial industry publishing and information services, and prior to founding Highline Media, served as the President of the Financial Publishing and Conferences Group, a division of The Thomson Corporation.   Highline’s first acquisition was The National Underwriter Company (“NUCO”), the leading publisher of insurance information in the U.S. in 2004 the company completed an additional five acquisitions, adding insurance and banking data businesses acquired from The Thomson Corporation; an insurance training and continuing education business; two magazines; several liability books.

About The National Underwriter Company
NUCO, formed in 1897, is the leading publishing and information services business for the insurance industry. Headquarters are in Erlanger, Kentucky, a suburb of Cincinnati, and principal editorial and advertising sales offices are in Hoboken, New Jersey. NUCO’s Insurance Magazine Division publishes two weekly newsmagazines for the property/casualty and life/health sectors of insurance carrying the National Underwriter brand. The company also publishes Claims, a monthly magazine for claims executives; Tech Decisions, for IT insurance professionals; and two regional titles, Florida Underwriter, and Insurance Advocate, for the New York metro market. In live events, NUCO sponsors its annual ACE/SCLA claims conference and the Life Insurance Sales Mastery Forum. NUCO’s Professional Publishing Division issues its Fire, Casualty and Surety bulletins, reporting on the latest developments in insurance policy application and legal interpretation; and the TaxFacts annuals, summarizing how the tax code affects insurance benefits and investment decisions, among some 160 titles in all.  For more information about NUCO, visit www.nuco.com.

About Spire Capital
Spire Capital Partners, L.P. is a $260 million private equity fund focused exclusively on the media and communications industries.  The principals of Spire Capital have served as owners, managers, investors and advisors of companies in the media and communications industries for more than 20 years.  Spire Capital has a diversified limited partner base that includes several prominent media and communications industry executives.  In addition, Spire Capital works closely with its portfolio companies to raise capital, secure contracts, establish strategic relationships, develop operating plans and recruit management.  For more information on Spire Capital, visit www.spirecapital.com.