PRIMEDIA’S NATIONAL REAL ESTATE INVESTOR DEBUTS NEW LOOK AND ENHANCED EDITORIAL COVERAGE

Redesigned Magazine Includes More In-Depth Articles, Improved Style and the Addition of PRIMEDIA’s American Demographics Data Points Page


Atlanta, Georgia – May 7, 2002 – PRIMEDIA’s National Real Estate Investor, the leading source of information for commercial real estate professionals, introduces its updated design and streamlined format. The change begins with the logo and front cover and is evident throughout the magazine in the form of expanded in-depth articles, news and trends and the inclusion of more charts, tables and text boxes.

Additionally, to provide readers with a dashboard for the commercial real estate market, National Real Estate Investor will feature demographic data from PRIMEDIA’s sister publication, American Demographics. These demographics will be partnered with the latest readings from all of the major property types on the Data Points page.

“National Real Estate Investor, in combination with our website, NREIonline.com and our e-newsletter, NREI Newsline, is intensifying its focus on the flow of dollars into and out of the marketplace,” said Jackie Kandell, publisher of PRIMEDIA’s Real Estate Group. “Whether you are an owner, builder, developer, lender or broker, to understand the business better, it pays to follow the money.”

In addition to the inclusion of valuable information from PRIMEDIA’s American Demographics, other improvements are noted in the magazine’s division into the following three sections:

· Developments – information on the latest news and trends in real estate finance as well as in the office, hotel, multi-family, retail and industrial submarkets.

· Feature story – an in-depth look at an important issue emerging in the industry, a profile of a major player in the real estate market or the dissection of an important industry trend. In May, we focus on the problems facing aging shopping malls across America and what the smart players in the industry are doing to combat this situation.

· Strategies – practical advice from industry colleagues, case studies about how to tackle the tough problems and updates on finance and property management techniques and discussions of regulatory issues

“We want to emphasize to our readers that despite these great improvements, our editorial strategy remains the same – to produce informative and thought provoking articles that address the most critical issues facing the commercial real estate market,” said Matt Valley, editor of PRIMEDIA’s National Real Estate Investor. “Combining this strategy with the magazine’s updated design and new streamlined format, we are confident that our readers will welcome these changes and will be completely satisfied with our brand new look.”

The redesigned version of PRIMEDIA’s National Real Estate Investor debuts with its May issue. Information on the issues currently impacting the real estate industry can be found in the issue and at the magazine’s Web site www.nreionline.com.

About PRIMEDIA’s National Real Estate Investor National Real Estate Investor is the leading authority on commercial real estate trends. The magazine’s readers represent a cross-section of disciplines — brokerage, construction, development, finance/investment, property management, corporate real estate, and real estate services. No other publication provides as much independent research on a variety of topics that pertain to the office, industrial, retail, hotel and multifamily markets as NREI.

About PRIMEDIA PRIMEDIA is the new tradition in media. With 2001 sales of $1.7 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 290 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 www.primedia.com >.

### Media Contacts: Hawley Strait, 212-446-1877
hstrait@sloanepr.com


Noelle Wojciehowski, 212-462-3658
nwojciehowski@primediabusiness.com