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The Financial Times Group Announces New U.S. Headquarters



           By Unveiling Pink `FT' Sign Above Avenue of the Americas
            Pearson CEO Marjorie Scardino Unveils New FT.com TV Ad
          And Outlines Plans to Build on Paper's Success in the U.S.
                     Dan Aykroyd Leads FT Pink Motorcade
                   Through NYC to Highlight FT's `Arrival'

NEW YORK, May 15 /PRNewswire/ -- Marjorie Scardino, CEO of Pearson Plc, today celebrated Financial Times' success in the U.S.-unveiling a pink FT sign high atop the Financial Times' new U.S. headquarters at 1330 Avenue of the Americas. She also unveiled the latest television spot for FT.com featuring Dan Aykroyd. The new building is home to the Financial Times newspaper, FT.com and Pearson Plc and is one of the few buildings in the Manhattan to carry a three dimensional logo.

"Casting the FT letters on the Manhattan skyline is a great way to signify that the FT has arrived in the U.S. and that we are here to stay" said Marjorie Scardino. "We are investing in the editorial talent, marketing and distribution that will enable us to bring our unique brand of international

news and in-depth analysis to new and broader audiences across America. As

the worlds of commerce and finance become ever more international, we are confident that more Americans will look to the Financial Times, both in print and on-line as an essential partner in business."

In honor of the new headquarters, Mayor Rudolph Giuliani named May 15th "Financial Times Day" in New York City. In a letter, President Clinton also congratulated FT on the new headquarters and underscored the "importance of

international perspective on the ideas, issues and events that shape our nation's economy and the global marketplace today."

As the Financial Times turned Manhattan FT pink for a day, Dan Aykroyd,

star of FT.com's new television ads, led an FT pink motorcade through Manhattan's streets from Grand Central Station to the new FT headquarters. The motorcade included five specially designed FT pink Indian motorcycles, which escorted a FT news truck, outfitted with the Financial Times and FT.com logos.

Robert Thomson, U.S. Managing Editor of the FT newspaper added, "FT journalists have changed the business reporting landscape in the U.S. and now we are altering the New York cityscape. We aim to make the Financial Times newspaper and FT.com beacons of quality and originality in a world overwhelmed by information, much of it meaningless. The new building will be a different kind of beacon. You can read the FT anywhere in the U.S. and, well, you can see our building from New Jersey."

Financial Times Newspaper has tripled its circulation in the U.S. over the past two years and has added print sites in the Chicago, Boston and San Francisco metropolitan areas in addition to existing sites outside New York and Los Angeles. The paper is expected to add sites in Houston and Miami by the end of the year.

The FT has also expanded its editorial staff, hiring top journalists for FT and FT.com. As well as great talent from the FT's existing team such as

William Lewis, Louise Kehoe and Gerard Baker, we have hired some great home-grown talent. Amity Shlaes recently joined FT from the Wall Street Journal

Editorial Board; Gary Silverman formerly senior banking writer at BusinessWeek is now FT's U.S. banking editor; Edward Cheng was international news editor at Bloomberg before becoming U.S. Duty Editor at FT.com; Hillary Durgin was senior energy correspondent at the Houston Chronicle before becoming FT's Houston correspondent. Other rising stars from Dow Jones, Bloomberg, Bridge News, CNN and a selection of leading newspapers from around the U.S. have also recently joined the FT.

Over the past two years, the FT has broken top stories of major international and domestic importance ranging from Exxon-Mobil, the largest industrial merger in history, to the LTCM bailout crisis and countless other high-profile mergers to a recent scoop on China's new economic reform plan.

FT has led the way in reporting on the U.S. M&A boom, Europe's new industrial revolution, the fall and recovery of East Asia, and the mixed fortunes of Latin America.

Recently named the number one global news site by Barron's magazine and "Best of the Web" for emerging markets and international news by Forbes, FT.com launched a $35 million ad campaign in the U.S. targeted at globally-minded business people with the aim of increasing their awareness and understanding of FT.com.

In addition to today's unveiling ceremony, other activities to celebrate FT's arrival included:


    * 50 "power commuters" dressed in FT pink rode New York City subways
      throughout Manhattan during the morning rush hour.
    * FT gave away newspapers, FT.com mousepads, and hats across Manhattan.
    * Select Starbucks across the city featured FT "Get Your Coffee Quotes
      before Your Morning Latte" signage and copies of the newspaper were
      given away outside the stores.
    * Dan Aykroyd led a motorcade of FT pink Indian motorcycles escorting an
      FT news delivery truck from Grand Central Station to Starbucks at 42nd
      Street and 6th Avenue to FT headquarters at 1330 Avenue of the Americas.
    About the Financial Times

Established in 1888, the Financial Times, the "world business newspaper," is the only worldwide daily newspaper concentrating on international business. Published six days a week, the FT provides authoritative coverage of international news as well as analysis and commentary through a network of correspondents situated around the globe. The Saturday edition of the FT wraps up the week's international business and presents trend-setting leisure time features. Printed at 14 locations around the world, FT's focus is on emerging markets, finance, economics, international companies, management, government, and technology.

About FT.com

FT.com (www.FT.com) is one of the world's leading international business information websites. FT.com attracts over 1.2 million unique visitors each month and generates over 22 million monthly page views, making it the most- visited commercial news site in Europe and among the world's most significant sources of business news on the Internet. FT.com has a registered user base numbering more than 2 million. Financial Times and FT.com are owned by Pearson Plc. Pearson is an international media company with market-leading

positions in strategic business information, education, consumer publishing

and international television production.

SOURCE Financial Times

-0- 05/15/2000

/CONTACT: Annalise Carol, 212-484-7237, or Kathleen Gaffney, 212-484-7468, both for The Financial Times/

/Web site: http://www.ft.com/

CO: Financial Times; Pearson Plc; FT.com ST: New York, England IN: PUB SU:

-0- May/15/2000 9:01 EOS (PRN) May/15/2000 09:01 85 â -0- (PRN) May/15/2000 9:16

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