The Internet is founded on connectivity, integration and personalization - which creates opportunities both for our marketing partners and consumers. Our commitment to expanding our Internet initiatives helps ensure our role as one of the country's leading media and marketing companies and the premier provider of home and family content.

All of Meredith's sites share a common theme -- they enhance the franchise and reflect the brand's heritage by finding new ways to reach customers in an interactive environment. Each site reflects the same philosophy, standards, and editorial objectives of our publishing and broadcasting operations.

Meredith's Interactive efforts include four major initiatives:

• Developing the premier home and family Internet site, with extensive and unique content and applications in our core content areas of decorating, food, home improvement and remodeling. We will use our flagship site, bhg.com, as the launch platform.
• Enhance the Internet presence of our television stations as an extension of their brand identities and local news presence.
• Generating significantly more magazine subscriptions online.
• Expanding our business development efforts, including our program of strategic alliances and equity investments in Internet partners.

Traffic on our sites has grown significantly. In December 2000, our sites collectively generated more than 21.5 million page views and 2.6 million unique visitors. To date, we also have generated more than 1.1 million registrations.