Robb Report Magazine Acquired By Luxury Media Corporation

Posted on March 3, 1999

Robb Report, an internationally monthly magazine targeted to the luxury lifestyle, has been acquired by an investor group led by Publisher Daniel J. Phillips. The transaction resulted in the purchase of all outstanding, family-held shares of the company not previously owned by Mr. Phillips.

"The capital infusion generated by our institutional backers through this transaction provides us with the ability to extend our media reach across the luxury industry, to include print publications, the Internet and other opportunities," Mr. Phillips explained. "We look to accomplish this while continuing to provide comprehensive news and information pertaining to the luxury lifestyle."