Wolters Kluwer Acquires Telecommunications Reports International, Inc. Prominent Industry News Group Will Become Part Of CCH

(CHICAGO, May 20, 1999) -- Wolters Kluwer U.S. (WK) said today that it has acquired Telecommunications Reports International, Inc. (TRI), Washington, DC, a publisher of information and newsletters for the telecommunications industry. The company will become a subsidiary of CCH INCORPORATED (CCH), Riverwoods, Ill., a WK company and a leading provider of tax and business law information. Terms of the agreement were not disclosed.

The acquisition includes the weekly newsletter Telecommunications Reports, TRI’s flagship publication and widely regarded as the journal of record for the telecommunications industry. The sale also includes the customized telecommunications reporting service, TR Insight, the electronic report, TR Daily, and a number of subject-specific publications such as TRI Journal, TR Wireless News, State and Local Communications Report, Report on Smart Cards and Report on Electronic Commerce.

The addition of the TRI publications to CCH’s Business and Finance Group allows the company to supplement its line of legal and regulatory publications for specialized industries, such as telecommunications, energy, financial institutions, insurance, and government contracting. The group’s electronic and print product portfolio includes Guide to State Telecommunications Law, CCH Power and Telecom Law Journal, Utilities Law Reports, Nuclear Regulation Reports, FERC Reports, Aviation Law Reports, and Guide to Computer Law.

"Much like CCH’s publications, TRI’s newsletters are considered the reliable, authoritative sources of critical information by customers with specialized interests and needs," said John Marozsan, president and CEO, CCH. "With this addition, we can continue to maintain that critical reputation and add a valuable and timely news component to our existing line of trade and regulatory products."

TRI’s 1998 revenues were approximately $6 million. TRI, which currently employs 45 people, will remain in Washington, DC.

Wolters Kluwer U.S. is a unit of Wolters Kluwer nv, Amsterdam. Its North American operations include a number of highly respected companies specializing in tax, legal, and regulatory publishing, services and software, including Aspen Publishers, CCH Canadian, CCH INCORPORATED, CCH Tax Compliance, and Legal Information Services.

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