OVERVIEW

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Thank you for your interest in Wine Spectator. Our circulation continues to grow, 35% since 2000, and MRI tracks our readership at more than 2.5 million.

Wine Spectator, published 15 times per year, illuminates and educates wine lovers and epicureans. We are renowned for our in-depth wine tasting reports and Buying Guide, travel and fine dining features, chefs' menus, personality profiles and thought-provoking editorial.

Our readers include epicureans, connoisseurs and collectors and business leaders. In addition, the trade readership comprises the multibillion-dollar wine and spirit industry. To put it simply, those who enjoy wine and spirits, food, travel and the good life read Wine Spectator.

Wine Spectator ranks No.1 among consumer and business publications according to Luxury Institute's 2008 survey. This survey, Luxury Institute's 2008 Brand Status Index Survey of Consumer Publications, investigates the opinions of wealthy consumers.* Wine Spectator finished first among 35 consumer publications, including the likes of Vanity Fair, Town and Country and Robb Report. The magazine ranked first overall among consumer publications by "executing the fundamentals of subject matter expertise, content relevance and helpfulness, appropriateness of advertising, and superior production quality extraordinarily well," according to the Luxury Institute.

Consumers who participated in the survey, and were willing to recommend our publication to others, had these comments about Wine Spectator:

• "It is the industry benchmark."
• "I consider it the foremost guide to its subject matter."
• "Comprehensive research and findings not found anywhere else."
• "Sets the standard worldwide."
• "It's the crème de la crème."

The Wine Spectator team looks forward to working with you. To talk with us, and execute your strategic marketing plan, please call 212-684-4224, or e-mail mmorgenstern@mshanken.com.

Best regards,

Miriam Morgenstern
Vice President, Associate Publisher
Tel: 212-684-4224 ext. 310

• * The survey, conducted online, included a nationally representative
    sample of 1,000 wealthy consumers with an average household
    income of $355,000 and average net worth of $4.2 million. Survey
    results are weighted to match the demographic and net worth profile
    of the same audience according to the latest Survey of Consumer
    Finances from the Federal Reserve.