THE DEAL INTRODUCES WEEKLY MAGAZINE TO COMPLEMENT ITS DAILY NEWSPAPER AND ONLINE EDITIONS

Weekly edition expands U.S. and European readership, coincides with the relaunch of The Daily Deal and enhanced Web-based subscription offerings

October 21, 2002--New York, N.Y.--The Deal LLC, a media company providing news, statistics and analysis to the deal community, today announced a series of expansion plans to support the Company's domestic and international growth strategy.

The Company is launching a weekly magazine, to be called The Deal, which will be built upon the Company's editorial strength in serving the deal community with valuable and informative news, columns, profiles, features and statistics. The Deal, with a glossy cover and oversized magazine format, will debut on November 4, 2002.

"In just three years, our Company has established a compelling editorial voice and a deep relationship with a sophisticated audience of corporate executives, deal advisers and investors," said Kevin Worth, president and publisher of The Deal. "Our new magazine will build upon this relationship by providing readers with another format to stay connected to the business of deals. It also offers our advertising partners another platform for reaching our Company's valuable and growing audience."

Weekly Launch Coincides with Relaunch of Daily Publication

The introduction of the weekly magazine will coincide with the relaunch of a news-only version of The Daily Deal. The tabloid daily newspaper will focus exclusively on publishing time-sensitive news on a daily basis. The Daily Deal will continue to be available in a daily print edition as well as in its electronic editions, TheDeal.com and The Daily Deal Digital.

"The Deal continues to grow its customer and advertising base despite one of the most difficult economic environments in decades," added Mr. Worth. "Our readership recently exceeded 100,000, and our ad pages have grown steadily over the past 11 quarters. Through our expanded range of print and electronic products serving the U.S. and Europe, the Company is able to serve a greater range of advertisers and readers and to position itself for rapid growth once economic conditions improve."

Increasing Audience Reach to Support the Company's Editorial Mission

Over the past three years, The Deal has broadened its editorial platform to offer coverage of the intertwined sectors of dealmaking - private capital investments, public financings, corporate restructuring and mergers and acquisitions. The launch of a weekly magazine will help the Company broaden its readership to capitalize on its editorial investment.

"The deal community is pervasive and global," said Robert Teitelman, editor in chief of The Deal. "To meet its needs, we need to be able to service many more constituents across a wide range of formats. That's why we are giving our readers new and more choices for getting daily news, weekly roundups, features and even breaking news."

An individual annual subscription to The Deal is priced at $249 for 48 issues. The Company also offers magazine subscriptions combined with other products in bundled packages and provides special rates to businesses that purchase multiple subscriptions.

TheDeal.com Rolls Out New Features to Increase Its Subscription-based Offerings
The Deal continues to invest in its electronic media business. Its Web site, TheDeal.com, recently unveiled several editorial enhancements as it shifted to a primarily paid subscription Web site. Recognized as the only online hub serving the deal community, TheDeal.com has enjoyed steady registered user growth, increasing by 40% month-over-month since the site instituted basic registration last May.

An annual subscription to TheDeal.com costs $189, and gives users full access to breaking e-mail alerts and daily news updated throughout the day, Web-only columns, The Deal's commentary, special reports and archives.

Print and Electronic Investments Help the Company Better Serve Deal Community

"The Deal is the only media company dedicated to linking together the shared information needs of the corporate and financial professionals who orchestrate, advise and participate in deals around the globe," concluded Mr. Worth. "These sophisticated readers count on us for unparalleled coverage of deals and the players in the community. We will continue to offer our readers and advertisers more choice and opportunity to be part of, and access, the leadership of deal community."

About The Deal LLC
The Deal, LLC is the leading media company charting the deal economy for dealmakers worldwide. The company provides original news reporting, financial data and commentary on a full spectrum of global transactions and the personalities and politics of dealmakers behind the deals. Through The Daily Deal and TheDeal.com, as well as e-newsletters, newsletters and special reports, The Deal, LLC addresses the information needs of the deal community composed of corporate executives, entrepreneurs, institutional investors, financial intermediaries and advisers. Investors in The Deal, LLC, a privately held company, include majority owner U.S. Equity Partners, a private investment fund sponsored by Wasserstein & Co., LP, and Rustic Canyon Ventures, one of the largest venture capital funds in Southern California.