Forbes and experience.com, Inc. Form Joint Venture To Extend Reach of Emerging Professional Category

experience Magazine to reach college student and twentysomething demographic

NEW YORK and BOSTON--(BUSINESS WIRE)--Jan. 30, 2001-- Forbes and experience.com, Inc. announced today that they have signed a letter of intent to create a joint venture to co-publish, manage and market experience Magazine. The publication targets college student and the emerging professional markets.

experience Magazine, published quarterly and launched in 1999, is recognized as the leading career focused publication for the twentysomething market and has an audited controlled circulation of more than one million readers nationwide. The magazine content focuses on providing readers with career information, guidance and insight. The new venture will now feature additional content from Forbes' editorial staff.

``Our new venture gives Forbes unique access to a valuable market - the emerging professionals,'' said Jim Berrien, president, Forbes Magazine Group. ``experience Magazine will expand the reach of Forbes readership to future business leaders, which is an important element of our growth strategy.''

``From day one, the focused mission of experience.com, Inc. has been to address the emerging professional's need for guidance, advice and insight about the initial job experience by working with leading university career centers,'' added Jennifer Floren, president and CEO of experience.com, Inc. ``experience.com, Inc.'s relationships with universities allow us to connect with a captive engaged audience of students each year--something of great value to employers and advertisers alike. We are excited that Forbes has recognized our direct connection to this demographic and we in turn realize the impact of having the stature, credibility, reach and savvy of Forbes and its brand.''

John Caldwell, president, Forbes Custom Communications Partners, will serve as interim publisher. The first issue of the new joint venture will be Graduation 2001, to be published in the spring.

Forbes is the publisher of Forbes, the nation's leading business magazine, and its international edition, Forbes Global, which together reach a worldwide audience of nearly five million readers. The company also publishes: Forbes ASAP, the technology supplement for management decision makers, and Forbes FYI, the irreverent lifestyle supplement. Other company divisions include: Forbes.com, the company's Internet business; Forbes Management Conference Group; Forbes Special Interest Publications; and American Heritage, publisher of American Heritage magazine and two quarterlies, American Legacy and American Heritage of Invention & Technology.

experience.com, Inc. is the leader in the college student and emerging professional ``e-recruiting'' market. The mission of the company is to help match top emerging talent with top employers through innovative and comprehensive online and on-campus recruiting services. Through its integrated career management platform and services, including experience.com, eRecruiting, the Cyber Connection Series and experience Magazine, experience.com, Inc. works with over 500 leading universities to help more than 50,000 employers recruit from more than 2 million students and alumni nationwide. Based in the historic Faneuil Hall Marketplace in Boston, Mass., experience.com, Inc. is venture-backed by Polaris Venture Partners, Isabella Capital LLC, Benefit Capital Management Corporation and a number of other private investors. More information about the company is available at its corporate Web site, www.experience.com.