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Penn Well Acquires Magazine

PennWell Corporation, a diversified global media and information company, announced today that it has acquired Small Times magazine, a business publication covering the fast-emerging nanotechnology, MEMS and microsystems markets. The acquisition also includes the magazine`s associated trade conference and exhibition, NanoCommerce, taking place November 1-3, 2005 in Chicago, Illinois, the magazine`s website, www.smalltimes.com, newsletters and research services. Financial terms of the sale were not disclosed.

Founded in 2001, Small Times magazine is published nine times a year, for a circulation of 28,000. It is a source of news and analysis about micro and nanotechnology, detailing technological advances, applications and investment opportunities to help business leaders stay informed about this rapidly changing business.

The Small Times team will remain in Ann Arbor, Michigan but will become part of PennWell`s Advanced Technology Division based in Nashua, New Hampshire. Patti Glaza, CEO of Small Times, will join PennWell as Vice President and Group Publisher reporting to Dave Janoff, Senior Vice President of the Communications &, Optoelectronics Group.