Miller Freeman Asia Announces Sale of Its Travel and Tourism Group in Singapore to hongkong.com Corporation

Miller Freeman Asia, the region's largest trade fair organiser and a leading provider of high-quality B2B information in its publications and web sites, announces today that it has sold its travel and tourism group and associated publishing services in Singapore to hongkong.com Corporation.

The sale allows Miller Freeman Asia, a subsidiary of United News & Media plc, to concentrate on further developing its core trade fair and publishing portfolio and creating a dominant online position for its business.

The travel and tourism group divested in Singapore published eight regular publications including Travel Trade Gazette Asia (TTG Asia), Incentive & Meetings Asia and Business Travel News Asia Pacific. It organised two of Asia's major travel trade events: Incentive Travel & Conventions, Meetings Asia and Corporate Travel World Asia Pacific.

The sale does not affect International Tourism Asia, the joint venture trade fair between Miller Freeman Asia and ITB Berlin, which is operated by the regional headquarters of Miller Freeman Asia in Hong Kong. All other travel trade businesses of United News & Media plc including Travel Trade Gazette in the United Kingdom (TTG UK), are unaffected.

"The sale of the Miller Freeman Travel and Tourism Group will enable us to further develop our on-line B2B marketplaces, based on our dominant trade fairs and publications, serving such major businesses as the jewellery, IT, leather, furniture, cosmetics and general industrial sectors", said Peter Sutton, President and Chief Executive of Miller Freeman Asia.

"Our objective is to build our position in the fledgling new media market and create strong online marketplace for our customers. We also aim to grow our existing businesses in the years ahead with the strong support from our parent company, United News & Media plc. This sale is beneficial for all concerned," he concluded.

Miller Freeman Asia is the biggest non-governmental organiser of trade fairs in Asia and a leading provider of high-quality B2B information in its publications and web sites. It organises the region's largest jewellery, leather and beauty trade fairs, as well as the biggest furniture fair in China along with many other trade events throughout the region. With its regional headquarters in Hong Kong, Miller Freeman Asia operates in 20 market sectors and has over 400 staff in 12 countries/regions. It has over 100 media products comprising over 65 trade shows, conferences and seminars, some 10 publications and a fast-growing portfolio of commercial web sites and on-line services.