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M. Lee Smith Publishers Purchases Four Additional Newsletters, Bringing Total Number of Publications to 130

25th Anniversary Year of Company Marked by Rapid Growth and Expansion

BRENTWOOD, TN, March 22, 2000 - M. Lee Smith Publishers LLC, one of America's most influential publishers of newsletters and other information products for human resources professionals, attorneys, and other business people, announces its purchase of the newsletters Third Circuit Digest, Fourth Circuit Review, Sixth Circuit Review, and Kentucky Appellate Reporter from Louisville, Kentucky-based Appellate Review, Inc.

"The previous publisher, Pat Owen of Appellate Review, Inc., has brought the highest standards and quality to these newsletters," said M. Lee Smith, Chairman & Publisher of M. Lee Smith Publishers of Brentwood, Tennessee. "As new publishers, we will work very hard to continue that tradition."

Third Circuit Digest, Fourth Circuit Review, and Sixth Circuit Review present time-saving, authoritative summaries of just-rendered decisions by the United States Courts of Appeal for various circuits.

Third Circuit Digest keeps attorneys aware of new decisions from the U.S. Court of Appeals covering Pennsylvania, New Jersey, and Delaware. The first issue published by M. Lee Smith Publishers will appear on March 23, 2000. A full year's introductory subscription (24 semi-monthly issues) will be priced at $307. Learn more at the Third Circuit Digest web page.

Fourth Circuit Review covers the circuit for Maryland, Virginia, West Virginia, North Carolina, and South Carolina, with the first issue published by M. Lee Smith Publishers to appear on March 28, 2000. A full year's introductory subscription (24 semi-monthly issues) will be priced at $307. Learn more at the Fourth Circuit Review web page.

Sixth Circuit Review covers the circuit for Tennessee, Kentucky, Michigan, and Ohio. The first issue published by M. Lee Smith Publishers appeared on March 21, 2000. A full year's introductory subscription (24 semi-monthly issues) will be priced at $307. Learn more at the Sixth Circuit Review web page.

Kentucky Appellate Review offers summaries of new decisions from both the Kentucky Supreme Court and Court of Appeals, with the first issue published by M. Lee Smith Publishers to appear on April 6, 2000. A full year's introductory subscription (24 semi-monthly issues) will be priced at $277. Learn more at the Kentucky Appellate Review web page.

"We expect the ownership transition for these newsletters to be very smooth," M. Lee Smith said. "The highly respected attorneys who have been serving as editors will continue in that role. And the editorial focus will remain the same, with the newsletters continuing to provide essential updates and expert commentary on decisions from the respective U.S. Courts of Appeal, and, in the case of Kentucky Appellate Reporter, from the Kentucky Supreme Court and Court of Appeals."

Smith said all other operational functions now will transfer to his Brentwood, Tennessee-based company. "As publishers, we will assume all administrative, printing, and mailing functions for these newsletters," Smith said. "We'll also offer customers a fully-staffed customer service center available via toll-free hotlines."

About M. Lee Smith Publishers LLC

Now celebrating its 25th Anniversary Year, M. Lee Smith Publishers LLC today publishes 130 workplace-related newsletters and other publications, including 50 state-specific employment law newsletters, plus award-winning videos, guidebooks, software, and Internet research services. The purchase of these four newsletters rapidly follows the late 1999 purchase by M. Lee Smith Publishers of Alabama Law Weekly. The company also has recently launched several other nationally circulated newsletters, including Drug-Free Workplace, Benefits & Compensation Law Alert, and Hospitality Workforce Trends.

The investment banking firm of West & Feinberg Publishing Services Group represented Appellate Review, Inc., in the transaction. Michael Gluckstern, Managing Partner, West & Feinberg Publishing Services Group, 4550 Montgomery Avenue, Suite 775 Bethesda, MD 20814. Phone: (301)951-1580 Fax: (301)951-1525 E-mail: mgluckstern@west-feinberg.com

No-risk subscriptions to Third Circuit Digest, Fourth Circuit Review, Sixth Circuit Review, and Kentucky Appellate Reporter may be ordered by calling 800-704-8519. All other newsletters from M. Lee Smith Publishers may be ordered by calling 800-274-6774.