CRAIN S CLEVELAND BUSINESS

PAID CIRCULATION CRAIN S CLEVELAND BUSINESS Cleveland, Ohio 44113 FIELD SERVED: CRAIN S CLEVELAND BUSINESS serves the general business information needs of executives, managers and professionals in the Cleveland Metropolitan area. TOTAL AVERAGE QUALIFIED PAID CIRCULATION FOR 12 MONTHS ENDED DECEMBER 31, 2007: TOTAL AVERAGE QUALIFIED PAID CIRCULATION.......................... 20,118 1A - AVERAGE QUALIFIED PAID CIRCULATION, See Par. 11(a)........................................... 16,590, See Par. 11(b).......................................... 315 &........................................ Individual.................................................. 16,905 Association...................................................... Sponsored Individually Addressed, See Par. 11(c)........................ 2,701 Multi-Copy Same Addressee, See Par. 11(d)............................ 179 Single Copy Sales, See Par. 11(e).................................... 333 Average Qualified Paid Circulation........................... 20,118 1B - AVERAGE QUALIFIED NON-PAID CIRCULATION None Claimed 1C - AVERAGE NON-QUALIFIED CIRCULATION Non-Continuous Market Coverage Copies..................................... Allocated For Shows & Conventions......................................... 165 Miscellaneous, Including Staff Copies, See Par. 11(f)............................ 1,024 Average Non-Qualified Circulation.................................. 1,189 1D - AVERAGE QUALIFIED PAID CIRCULATION OF REGIONAL AND DEMOGRAPHIC EDITIONS None of record 06-0405-8

AUDIT STATEMENT There was no adjustment made in the average qualified paid circulation in comparing this report with the Publisher s Statements for the period audited. AVERAGE QUALIFIED PAID & NON-PAID CIRCULATION BY QUARTERS for the period covered by this report: Calendar Quarter Ended Paid March 31, 2007 20,753 20,397 356 June 30, 2007 20,051 19,726 325 September 30, 2007 19,828 19,538 290 December 31, 2007 19,906 19,613 293 2 - QUALIFIED PAID CIRCULATION BY ISSUES & QUALIFIED NON-PAID REMOVALS & ADDITIONS 2007 Issue Paid & 2007 Issue Paid & Jan. 1/8 19,612 19,256 356 15 21,999 21,641 358 22 22,474 22,115 359 29 22,757 22,393 364 Feb. 5 20,039 19,689 350 12 20,511 20,159 352 19 20,514 20,153 361 26 20,448 20,082 366 Mar. 5 19,878 19,530 348 12 20,171 19,819 352 19 20,110 19,758 352 26 20,517 20,162 355 Apr. 2 20,305 19,973 332 9 20,407 20,069 338 16 20,174 19,831 343 23 20,319 19,975 344 30 19,971 19,625 346 May 7 19,624 19,301 323 14 19,797 19,472 325 21 20,113 19,786 327 28 20,213 19,884 329 June 4 19,928 19,629 299 11 19,861 19,560 301 18 19,867 19,564 303 25 20,087 19,777 310 July 2 19,701 19,413 288 9 19,797 19,505 292 16 19,851 19,553 298 23 19,929 19,629 300 30 20,021 19,716 305 Aug. 6 19,907 19,622 285 13 20,012 19,723 289 20 19,907 19,617 290 27 19,812 19,520 292 Sept. 3 19,695 19,416 279 10 19,727 19,447 280 17 19,596 19,314 282 24 19,810 19,523 287 Oct. 1 19,856 19,572 284 8 19,892 19,605 287 15 20,266 19,975 291 22 20,345 20,050 295 29 20,006 19,709 297 Nov. 5 19,506 19,216 290 12 19,796 19,505 291 19 20,026 19,734 292 26 20,281 19,984 297 Dec. 3 19,694 19,402 292 10 19,802 19,508 294 17 20,010 19,713 297 24 19,967 19,665 302 31 19,232 18,943 289 Crain s Cleveland Business, Cleveland, OH, Page #2

3A - BUSINESS/OCCUPATIONAL ANALYSIS The information in Paragraphs 3A, 3B, 3C and 4 is from an analysis of the November 26, 2007 issue in which: Qualified paid circulation of this issue was 0.8% greater than the period average. Classifications have been verified by information obtained from letterheads, questionnaires, etc. 3B - AGE OF SOURCE DATA ANALYSIS Classification by Title & Occupation & A B C D E F G Classification by Business & Industry 1. Manufacturing... 1,706 8.4 1,674 32 1,027 84 140 11 42 135 268 2. Agriculture, Forestry... 81 0.4 81 53 1 8 3 2 14 3. Mining... 28 0.1 27 1 18 3 3 1 3 4. Construction... 756 3.7 747 9 508 12 32 1 10 23 169 5. Transportation-Warehousing... 476 2.3 470 6 208 11 32 7 27 190 6. Communications... 188 0.9 151 37 80 5 13 5 4 42 39 7. Utilities... 43 0.2 39 4 24 1 6 1 6 5 8. Retail Trade... 856 4.2 847 9 488 18 35 6 10 47 253 9. Wholesale Trade... 1,057 5.2 1,052 5 686 38 66 3 17 68 179 10. Banking and Finance... 1,047 5.2 1,012 35 496 138 44 4 15 37 314 11. Insurance... 477 2.4 469 8 257 24 19 8 11 36 122 12. Real Estate... 925 4.6 897 28 522 29 69 6 15 44 240 13. Institutions and Services... 5,432 26.8 5,406 26 2,581 112 375 23 79 175 2,087 14. Government... 281 1.4 277 4 87 15 37 6 11 4 122 15. Educators/Students... 182 0.9 165 17 43 6 19 1 3 5 106 16. Retired... 85 0.4 83 2 8 3 74 17. Others Allied to the Field... 647 3.2 614 33 210 17 31 5 4 46 334 Other Paid Circulation Subscriptions... 5,373 26.5 5,332 41 Single Copy Sales... 641 3.2 641 Qualified Paid Circulation... 20,281 100.0 19,984 297 7,296 517 929 79 232 698 4,519 Key to Classification by Title & Occupation A. Corporate Management: Chairman of the Board, Chief Executive Officers, Presidents, Chief Operating Officers, Publishers, Executive Directors, Partners, Owners, Vice Presidents, Treasurers, Secretaries, General Managers, and their assistants. B. Financial Management: Directors and Managers of Finance, Controllers, Budget Directors, Trust Officers and Internal Audit Managers and their assistants. C. Operating Management: Managers, Supervisors and Department Directors, Principals, Engineers and their assistants. D. Computer/Systems Management: Directors, Managers, Heads and Chiefs of EDP, Directors and Managers of Programming, Systems and Procedures Directors and EDP Operations Managers and their assistants. E. Purchasing: Directors, Managers, Agents and Buyers and their assistants. F. Marketing/Sales: Directors and Managers of Advertising, Communications, Marketing and Sales and their assistants, Manufacturers Representatives and their assistants. G. Other Titled and Non-Titled Personnel, Company and Library Copies. Optional and not required 3C - MAILING ADDRESS ANALYSIS Individual by name and title and/or occupation..................................... 11,114 56.6 11,077 37 Individual by name only....................................................... 7,063 35.9 6,803 260 Title or occupation only....................................................... 230 1.2 230 Company name only......................................................... 1,055 5.4 1,055 Multi-Copy Same Addressee................................................... 178 0.9 178 Qualified Paid Subscription Circulation................................... 19,640 100.0 19,343 297 Single Copy Sales........................................................... 641 Qualified Paid Circulation............................................... 20,281 & Crain s Cleveland Business, Cleveland, OH, Page #3

4 - GEOGRAPHIC ANALYSIS State & ZIP Code New England ME 039-049... 1 1 NH 030-038... 1 1 VT 050-059... 1 1 MA 010-027... 12 9 3 RI 028-029... 1 1 CT 060-069... 4 3 1 New England 20 0.1 15 5 Middle Atlantic NY 100-149... 53 46 7 NJ 070-089... 15 9 6 PA 150-196... 63 60 3 Middle Atlantic 131 0.6 115 16 East N. Central OH 430-459... 19,130 18,892 238 IN 460-479... 5 3 2 IL 600-629... 74 66 8 MI 480-499... 77 68 9 WI 530-549... 3 2 1 East N. Central 19,289 95.1 19,031 258 West N. Central MN 550-567... 7 5 2 IA 500-528... 1 1 MO 630-658... 5 5 ND 580-588... SD 570-577... NE 680-693... 2 2 KS 660-679... 1 1 West N. Central 16 0.1 14 2 South Atlantic DE 197-199... 2 2 MD 206-219... 7 5 2 DC 200, 202-205... 10 6 4 VA 201, 220-246... 7 5 2 WV 247-268... 2 2 NC 270-289... 5 5 SC 290-299... 4 4 GA 300-319... 9 8 1 FL 320-349... 60 56 4 South Atlantic 106 0.5 93 13 East S. Central KY 400-427... 10 10 TN 370-385... 4 4 AL 350-369... 2 2 MS 386-397... East S. Central 16 0.1 16 & State & ZIP Code West S. Central AR 716-729... LA 700-714... OK 730-749... TX 750-799... 8 8 West S. Central 8 0.0 8 Mountain MT 590-599... ID 832-838... WY 820-831... CO 800-816... 3 3 NM 870-884... AZ 850-865... 7 7 UT 840-847... NV 889-898... 4 4 Mountain 14 0.1 14 Pacific AK 995-999... WA 980-994... 3 3 OR 970-979... 2 2 CA 900-961... 29 28 1 HI 967-968... 1 1 Pacific 35 0.2 34 1 Single Copy Sales... 641 3.2 641 U.S. Unclassified... United States 20,276 100.0 19,981 295 Poss. & Other Areas 004-009, 969... U.S. & Poss., etc. 20,276 100.0 19,981 295 Canada... 3 0.0 2 1 Mexico... Military or Civilian Personnel Overseas... Other International... 2 0.0 1 1 International 5 0.0 3 2 E-Mail Address... Other Unclassified... Grand 20,281 100.0 19,984 297 COUNTY ANALYSIS State County OHIO Cuyahoga... 12,802 63.1 12,655 147 Geauga... 557 2.7 550 7 Lake... 1,148 5.7 1,137 11 Lorain... 863 4.3 852 11 Medina... 596 2.9 590 6 Portage... 431 2.1 424 7 Summit... 2,105 10.4 2,082 23 Other Ohio Counties... 629 3.1 603 26 Single Copy Sales... 641 3.2 641 TOTAL IN OHIO 19,772 97.5 19,534 238 Other States... 504 2.5 447 57 UNITED STATES 20,276 100.0 19,981 295 Poss. & Other Areas... U.S. & Poss., etc. 20,276 100.0 19,981 295 Canada... 3 0.0 2 1 International... 2 0.0 1 1 Military or Civilian Personnel Overseas... E-Mail Address... Other Unclassified... GRAND TOTAL 20,281 100.0 19,984 297 & & Crain s Cleveland Business, Cleveland, OH, Page #4

5 - PRICE DATA See Par. 11(g) ANALYSIS OF THE SALES OF TOTAL NEW AND RENEWAL SUBSCRIPTIONS SOLD DURING THE 12 MONTH PERIOD ENDED DECEMBER 31, 2007 6 - TERM DATA Three years or more................................. 5 5 None of record None of record Two years or more but less than three................... 2,327 2,314 13 None of record One year or more but less than two..................... 14,204 13,976 228 None of record Less than one year.................................. 377 377 None of record None of record............................................. 16,913 16,672 241 None of record 7 - SALES CHANNELS Ordered by mail and/or directly requested by subscriber..... 16,554 16,313 241 None of record Ordered through salespeople: Catalog agencies and individual agents.................. None of record None of record None of record None of record Publisher s own and other publisher s salespeople......... None of record None of record None of record None of record Independent agencies salespeople..................... 359 359 None of record None of record Association memberships............................. None of record None of record None of record None of record All other channels................................... None of record None of record None of record None of record............................................. 16,913 16,672 241 None of record 8 - PREMIUM USAGE Ordered without premium............................. 16,547 16,306 241 None of record Ordered with material reprinted from this publication........ None of record None of record None of record None of record Ordered with other premiums, See Par. 11(h)............. 366 366 None of record None of record............................................. 16,913 16,672 241 None of record ADDITIONAL CIRCULATION INFORMATION 9 - POST EXPIRATION COPIES INCLUDED IN PAID CIRCULATION: 10 - RENEWAL ANALYSIS OF PAID SUBSCRIPTIONS: & Average Subscription Price (Net): $54.59 Average Subscription Price (Gross): $54.56 Basic Prices: Subscriptions: In Ohio, 1 yr. $59.00; 2 yrs. $102.00. Outside Ohio, 1 yr. $102.00; 2 yrs. $180.00. Electronic, 1 yr. $39.00 Single Copy: $1.50 Sales include Premium Values Basic & higher than basic:............................ 3,787 3,553 234 None of record 75% - 99% of basic:................................. 5,134 5,127 7 None of record 50% - 74% of basic:................................. 5,099 5,099 None of record None of record 25% - 49% of basic:................................. 7 7 None of record None of record Less than 25% of basic:............................. 2,886 2,886 None of record None of record............................................. 16,913 16,672 241 None of record Percentage of paid subscriptions serviced, from 1 issue to 3 months beyond expiration, on the November 26, 2007 issue....................................................................... 7.1% Average percentage of paid subscriptions serviced from 1 issue to 3 months beyond expiration, for the period covered by this report............................................................ 7.4% expirations during 12 months May 1, 2006 thru April 30, 2007.............................. 14,176 renewal of those expirations........................................................ 9,719 Renewal percentage................................................................... 68.6% Crain s Cleveland Business, Cleveland, OH, Page #5

11 - EXPLANATORY: This is an independent publication not directly related to or affiliated with any association. (a) individual subscriptions, averaging 16,590 copies per issue, represent copies served to individuals receiving the print version only of CRAIN S CLEVELAND BUSINESS. (b) individual subscriptions, averaging 315 copies per issue, represent subscriptions served to individuals receiving the digital version only. The digital version of CRAIN S CLEVELAND BUSINESS is made available to subscribers through a password secure web site wherein an e-mail notice is sent to recipients notifying them of the availability of each issue. (c) Sponsored Individually Addressed subscriptions, averaging 2,701 copies per issue, represent copies sold in quantities of 2 to 2,519 to business concerns at prices shown in Par. 5. Copies were mailed to names and addresses furnished by the purchaser. In accordance with Rule D2.1, the following multi-copy sales in excess of 5%, averaging 2,508 copies per issue, were sold to Case Western Reserve University at 52 issues for 10 each. Copies were mailed to names and addresses furnished by purchasers. (d) Multi-Copy Same Addressee subscriptions, averaging 179 copies per issue, represent copies sold in quantities of 2 to 13 to business concerns at basic prices. Copies were mailed in bulk by the publisher for redistribution. (e) Single Copy Sales, averaging 333 copies per issue, represent copies sold through newsdealers at $1.50 per copy. (f) Miscellaneous includes checking and promotion copies, averaging 158 copies per issue, served to advertisers and agencies. (g) Authorized prices with 5% or more of total subscription sales: 1 yr. $39.00 1 yr. $49.00 1 yr. $59.00 (h) Records show a calculator, with a value of $2.25; a pen, with a value of $4.08 and a desktop calendar, with a value of $6.00, were offered with 52 week subscriptions at $39.00. (i) It is the policy of the publisher to expire all subscriptions on a monthly basis, therefore, some subscribers may receive one to four more issues than entitled, to but no offer of this kind is made to subscribers. DEFINITION OF RECIPIENT QUALIFICATION: Qualified recipients are: chief executive officers, presidents, owners, partners, chairmen, board members, officers, vice-presidents, general managers, department heads and managers, professional staff and their assistants and other personnel, including company copies in the field served as described in Paragraph 3A herein. To Members of the Audit Bureau of Circulations: We have examined the circulation records and other data presented by this publication for the period covered by this report. Our examination was made in accordance with the Bureau s Bylaws and Rules, and included such tests and other audit procedures as we considered necessary under the circumstances. In our opinion, the total average qualified paid circulation for the period shown is fairly stated in this report, and the other data contained in this report are fairly stated in all respects material to average paid and qualified non-paid circulation. Audit Bureau of Circulations June, 2008 Crain s Cleveland Business, Cleveland, OH, Page #6 - #217227-658 - 532 Copyright 2008 Audit Bureau of Circulations. All rights reserved. 06-0405-8 Member Number

Analyzed Issue Date 11/26/07 06-0405-8 Analyzed Issue Text (for double month issue date) Single Copy Price 1.50 Association Subscription Price U.S. Subscription Price 59.00 Canadian Subscription Price International Subscription Price