News Releases

DES MOINES, Iowa, Feb. 2 /PRNewswire-FirstCall/ -- The Meredith Corporation Board of Directors today declared a dividend of 22-1/2 cents per share, payable on March 13, 2009 to shareholders of record on February 27, 2009. This represents a 4.7 percent increase in Meredith's annual dividend. Meredith has paid a dividend for 62 consecutive years and has increased its dividend for 16 consecutive years.

"This dividend increase reflects our confidence in Meredith's strong national and local brands, solid connection to the consumer, and ability to grow market share," said Meredith President and CEO Stephen M. Lacy. "Additionally, we maintain a conservative financial structure and have a track record of strong cash flow generation."

ABOUT MEREDITH CORPORATION

Meredith Corporation is the leading media and marketing company serving American women. Meredith combines well-known national brands - including Better Homes and Gardens, Parents, Ladies' Home Journal, Family Circle, American Baby, Fitness and More - with local television brands in fast growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith then uses multiple distribution platforms - including print, television, online, mobile and video - to give consumers content they desire and to deliver the messages of its marketing partners. Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. The goals of these programs are to increase consumer loyalty and produce repeated consumer interaction. In the last two years, Meredith has significantly added to its capabilities in this area through the acquisition of cutting-edge companies in areas such as online, word-of-mouth and database marketing.

SOURCE: Meredith Corporation

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