Metro Announces Expansion and New Publications

Posted on November 27, 1998

Metro Global Media, Inc. announced that its newly acquired international publishing company, Fanzine International, Inc., has finalized arrangements to distribute its new monthly magazine, Celebrity Style, throughout Europe. Celebrity Style began its European launch on November 24th throughout the UK and is being translated for sale during the first quarter of 1999 to the Netherlands, Belgium and France. It will then be distributed during the second quarter to Germany, Italy and Spain.

Metro also announced Fanzine's excitement over the release of two new publications, GYM and BURN. Both publications are targeted to male readers focusing on health and fitness. GYM and BURN will compete with established publications such as Men's Health, Men's Fitness and Exercise for Men Only. Each magazine will have a newsstand distribution of 250,000 copies on a monthly basis. GYM is scheduled for a premiere on-sale date of January 5, 1999; BURN will debut in February 1999.

A. Daniel Geribo, Metro's President and CEO said in a statement, "Our sales are expected to dramatically increase in the Company's third and fourth quarters as a result of our expanded international distribution. We continue to be proud of the remarkable growth in our revenue and profits, and we recently purchased another 42,500 shares of common stock as we maintain a commitment to capitalizing on the investment value of our Company."