MOUNTAIN VIEW, CA - August 2, 2001. Strategies Unlimited, a leading technology oriented market research and management consulting firm announced today that it has been acquired by the PennWell Corporation. Strategies Unlimited specializes in leading edge technologies including optical networks, optoelectronic components, wireless communications, compound semiconductors and photovoltaics. Strategies Unlimited will operate as a su bsidiary within the PennWell Advanced Technology Division.

"Joining the Pennwell organization will significantly broaden our market reach," remarked John Day, Founder and President of Strategies Unlimited. "Working together with PennWell's KMI market research group will enable us to greatly enhance the value we bring to our customers."

Day went on to say that the strong multi-faceted capabilities of PennWell would have an immediate impact. For example, PennWell�s expertise in conferences and exhibitions will support the upcoming Strategies Unlimited conferences on Optical Amplifiers and Solar Electric Building.

PennWell publishes 55 trade journals. A number, including Laser Focus World, Lightwave and Integrated Communications Design will provide opportunities to disseminate Strategies Unlimited material.

PennWell has made a concerted effort to build its Advanced Technology Division to serve the global electronics, communications and information technology markets. "We are pleased and fortunate to have Strategies Unlimited become part of Pennwell�s Advanced Technology Division," said Dave Janoff, PennWell Vice President and the new President of Strategies Unlimited. "Strategies Unlimited has earned a reputation for identifying the critical commercial issues for emerging technic al products and accurately forecasting their market potential."

In addition to the combined knowledge in optical communications brought by Strategies Unlimited and KMI, the Strategies Unlimited wireless and photovoltaic practices will add to PennWell�s growth potential. PennWell will also benefit from the strong Strategies Unlimited presence in the heart of Silicon Valley.

About Strategies Unlimited

Founded in 1979, Strategies Unlimited publishes market research reports, custom studies and newsletters, consults and conducts conferences on optical networks, optoelectronic components, wireless communications, compound semiconductors and photovoltaics. The firm combines a solid technical foundation with fundamental commercial market understanding. Clients include many of the leading Fortune 500 companies as well as technology start-ups. The company is headquartered in Mountain View, Califo rnia.

About PennWell Corporation

PennWell is a highly diversified media and information company providing 55 authoritative print and online publications, 45 conferences and exhibitions, research, databases, Internet-based services and other information products to strategic global markets. These markets include electronics, communications, information technology, control technology, electric power, oil and gas, water, fire services and dental. Founded in 1910, PennWell was a pioneer in the then emerging oil and gas industry with Oil & Gas Journal magazine. Privately owned, PennWell is headquartered in Tulsa, Oklahoma. The Advanced Technology Division is based in Nashua, New Hampshire.