WICKS Business Information adds to its portfolio with acquisition of Credit Union Times

WICKS Business Information adds to its portfolio with acquisition of "Credit Union Times"

Fairfield, Connecticut (September 30, 2005) – WICKS Business Information, LLC (WBi) announced today that it has acquired Credit Union Times from C. U. Times, Inc. Terms of the acquisition were not disclosed.

Credit Union Times is the most widely read publication covering the thriving credit union industry. It is the industry’s primary source for timely news, feature stories, statistics, trend analysis and other valuable editorial content. Published weekly, Credit Union Times has a paid circulation base of approximately 9,000 subscribers.

"Credit Union Times has an unmatched reputation that has been built up over the years on the principle of good journalism. Those journalism standards will continue under WICKS ownership," said WBi CEO Doug Manoni. "The professionalism of the staff and its knowledge of the credit union industry is impressive. We plan to leverage Credit Union Times’ market dominance and launch several new products that will make the Credit Union Times’ franchise even more powerful and resourceful."

One of the many factors that made Credit Union Times such a valuable acquisition for WBi was the expanding scope of credit unions in the country’s financial marketplace, added Manoni.

Credit union assets have ballooned to nearly $700 billion, and that growth is expected to continue as credit unions benefit from favorable regulatory changes. These reforms have allowed credit unions to branch into new product areas, such as commercial services. Credit unions are also steadily adding new members because of relaxed membership requirements. With 1.3 million members already added so far this year, credit union membership now tops 87 million. There are approximately 9,000 credit unions in the nation, with more than 100 of them having over a billion dollars in assets.

Mike Welch, Founder and Publisher of Credit Union Times, said this deal will take Credit Union Times to the next level. "From the day I started it and the 15 years since, it has been rewarding to watch Credit Union Times evolve into the credit union industry’s premier publication. I step down knowing that Credit Union Times will flourish under the leadership of WICKS Business Information, an experienced financial publisher and first-class company with the resources to build the franchise for the benefit of thousands of loyal subscribers, supportive advertisers, and the industry itself."

Manoni also announced that editor Paul Gentile will take on an expanded role with the publication as Editor-in-Chief, while Welch will serve as a consultant to Credit Union Times during the transition, making available his years of knowledge and experience in the industry.

This marks the second acquisition by WBi since it announced its re-launch and a significant recommitment of capital from The WICKS Group of Companies earlier this year. WBi’s newly focused strategy is to acquire and build specialized information products serving overlapping and related segments of the financial and corporate markets, with emphasis on those market segments with compliance and regulatory requirements.

Credit Union Times clearly fits into this strategy and will become a part of the WICKS Business Information portfolio, which already includes Treasury & Risk Management magazine, publisher of a monthly finance magazine and bimonthly e-newsletter and producer of two annual conferences for chief financial officers, corporate treasurers and controllers; Corporate Legal Times, which serves corporate counsel with a monthly magazine, and various other information products including the annual SuperConference; and the Investment Advisor Group, publishers of Investment Advisor magazine and numerous e-newsletters and producer of the Investment Advisor Wealth Advisor Summit.

About WICKS Business Information
WBi (www.wbi.com) is a business-to-business information company based in Fairfield, Connecticut. In addition to the support and significant capital resources of The WICKS Group of Companies, the WBi management team has extensive experience in magazine, newsletter, and database publishing as well as event and other specialized information product management. The WICKS Group of Companies (www.wicksgroup.com) is a New York-based private equity investment firm focused on selected segments of the communications, information and media industries.

About Credit Union Times
Credit Union Times (www.cutimes.com) was launched in 1990. The publication is nationally distributed and will continue to be published from its principal office in West Palm Beach, Florida. It has the highest paid circulation of any weekly publication in the market, and provides timely news coverage, insight and analysis on the credit union industry. It is recognized as the most comprehensive and widely circulated publication serving the credit union industry.