UBM believes ethical and environmental factors to be integral to delivering financial returns to our shareholders, and reflects this in our corporate values and standards. UBM has established a ‘Statement of Business Principles’, available on our website (www.unitedbusinessmedia.com), which governs our relationships with customers, shareholders, employees, suppliers, the wider community and the environment. These principles form the basis of UBM’s corporate values (described below).

We aim to integrate Corporate Social Responsibility (CSR) into our business processes and the Group risk mapping process described on page 36 is the principal mechanism by which the Board identifies and assesses risks to value which may arise from CSR issues.

UBM is a member of the Corporate Social Responsibility (CSR) Media Forum which seeks to identify issues of particular relevance to the media sector and to develop consensus on best practice. In 2006 we aim, through our membership of the Forum, to develop dialogue with stakeholders on CSR issues.

Reporting
At present we report on CSR in terms of employees, health and safety, the environment and communities. In 2006 we aim to develop both internal and external reporting of our CSR activities.

Employees
UBM employs over 5,000 people around the world. Maintaining and motivating our highly skilled and diverse pool of talent is one of UBM’s highest priorities.

Training and development
All employees are encouraged to take up opportunities to develop leadership and management skills to make the most of their potential. As part of long-term succession planning, UBM has set up a Business Leaders Programme to identify and develop future leaders from within the Group.

Values
In 2005 after extensive consultation with employees at all levels, we launched UBM’s corporate values – We Explore, We Exceed, You Excel – which encourage personal commitment to our strategic goals. Throughout the year, UBM has increased investment in training and developing employees to help them bring the values to life in their work with customers, colleagues and the wider community. Exceptional contributions made by individuals and teams have been recognised through reward and recognition schemes across the Group.

Communication
Clear and open communication with employees is fundamental in a values-driven business. UBM aims for ongoing dialogue with employees through staff surveys, appraisals, newsletters, divisional intranets, ‘town hall meetings’ and web chats. Regular Group-wide e-mail updates from the Group Chief Executive keep employees informed of business strategy and developments. The new UBM website provides an additional channel for information and communication with employees and others.

Sharing best practice
UBM works with organisations including the Work Foundation, Opportunity Now, The Employers’ Forum On Age and The Corporate Leadership Council to identify and share best practice in employee issues.

Health and safety
We recognise our responsibility to provide a safe working environment. All divisional Chief Executive Officers are responsible for ensuring that their businesses comply with applicable health and safety legislation, and for maintaining comprehensive health and safety procedures.

Measuring performance in health and safety is an important part of managing the issues and creating a safe working environment. Our goal for 2006 is to improve the quality of data collection and to standardise reporting. We will then make these reports available on our website.

Environment
As a leading market information company we recognise the importance of ensuring that we both manage our environmental impacts and communicate good environmental practice externally.

UBM aims to minimise our environmental footprint by focusing on the areas in which we have most impact: reducing and recycling waste; using energy efficiently; implementing remuneration practices designed to encourage employees to use public rather than private transport, and promoting environmentally friendly policies in the workplace.

In 2005 UBM’s principal London office, Ludgate House, won an award from the Green Organisation, an independent environmental group, in recognition of its recycling initiative which aims to recycle 65% of waste produced. Another initiative at Ludgate House has reduced electricity usage by almost 4 million kilowatt hours since 2004.

Monitoring and measuring environmental impacts is an important element in managing our environmental footprint. In 2006 we aim to develop our system of monitoring and measuring these impacts.

Communities
We believe every UBM business has a role to play as a member of the community in which each operates around the world. We recognise the importance of community involvement at all levels throughout the Group and are committed to supporting our communities through financial contributions, donations in kind and employee volunteering.

Financial support and donations
In 2005, UBM increased the budget for community support and established a charitable donations committee, which makes central donations as well as allocating funds to divisions for disbursement. The total charitable contribution was £434,300.

As a media and information group, UBM particularly supports projects which promote communications, education and literacy. We also seek to assist in relieving poverty and homelessness, and promoting healthcare. Donations made from central funds in 2005 included the Asian Tsunami Relief Fund, London Bombings Fund and Hurricane Katrina Relief Fund. At a divisional level, we supported over 40 organisations nominated by our employees around the world.

UBM’s annual management conference in 2005 was held in Bangalore, India. The conference included a programme of visits to a number of local charities dealing with issues such as mental health, AIDS and homelessness. As a result of the links that have been established, UBM is now providing financial support and assistance in kind to several of these organisations.

In 2005 UBM donated hundreds of computers through Digital Links International for reuse in developing countries, together with a financial donation to cover shipping, installation and training. Such donations help young people in the developing world to benefit from vastly improved educational and economic opportunities, as well as helping the environment.

Employee volunteering
UBM encourages employees to support the community through employee volunteering programmes. We operate a matching scheme whereby employees can apply for corporate donations to match their own fund-raising efforts, and we offer employees a tax-efficient way of contributing to charities of their choice through payroll giving.

Over the course of 2006 we aim to expand our employee volunteering programme and ensure all employees are aware of how UBM can help them support their local communities.

David Levin
Group Chief Executive


Nigel Wilson
Chief Financial Officer

28th February 2006