Adams Street Partners Makes Capital Investment in ShermansTravel Media

Equity firm takes minority stake in leading travel media company, joins Board of Directors.

New York, NY (PRWEB) May 15, 2007 -- Signaling continued expansion for one of the industry's fastest growing travel media companies, ShermansTravel Media today announced that it has formed a strategic partnership with Adams Street Partners, one of the nation's oldest and largest private equity firms.

Under the partnership, ShermansTravel Media will receive a series B capital investment from Adams Street Partners, while Matt Crisp, a Partner at Adams Street Partners, will join ShermansTravel Media's board of directors. Since 2002, ShermansTravel Media has raised nearly $20 million from Adams Street Partners and Gannett Co., Inc., which is also a minority stakeholder in the company.

According to ShermansTravel Media founder and CEO, James Sherman, the capital investment will be used to support the company's ambitious growth initiatives, including its recent 2006 launch of Sherman's Travel magazine, focused on smart luxury values, as well as new online products for ShermansTravel.com users.

Founded in 2002, ShermansTravel Media publishes several travel products, including: ShermansTravel.com, the web's leading source for editor-screened travel deals and destination advice, travel e-newsletters and bulletins; QuickSearch, a rate comparison tool for airfare, hotels and packages; and Sherman's Travel magazine.

"This new partnership and capital investment will enable ShermansTravel Media to draw on Adams Street Partners' business relationships to accelerate growth, enhance our products, and reach new audiences," said Sherman. "We're proud to be working with leaders like Adams Street Partners and Gannett Co., Inc., which recognize the value of ShermansTravel Media and its tremendous growth opportunities."

"We're excited to partner with ShermansTravel Media," said Matt Crisp, Partner at Adams Street Partners. "We are impressed by their talented management team, blue chip partnerships, and unique business model. We're looking forward to working closely with Jim and his team as they take the company to the next level."

The new partnership comes at a time of major growth for ShermansTravel Media. In February, ShermansTravel.com's flagship e-newsletter, "Sherman's Top 25" (www.shermanstravel.com/top25), surpassed 4 million subscribers, and last fall the company expanded its brand offline with the launch of Sherman's Travel, the first magazine dedicated to sophisticated travelers who are value-conscious.

ShermansTravel.com attracts 2 million unique visitors each month and Sherman's Travel magazine currently boasts more than 200,000 subscribers.

Thomas Weisel Partners, an investment bank specializing in the growth sectors of the economy including the technology, healthcare and consumer sectors, represented ShermansTravel Media on forming the strategic partnership.

About ShermansTravel Media

ShermansTravel Media is a leading travel media company which publishes ShermansTravel.com, Sherman's Top 25 e-newsletter, QuickSearch, and Sherman's Travel magazine. Founded by James Sherman in 2002 to help travelers makes sense of the overwhelming number of online travel specials, ShermansTravel.com is now the web's most trusted source for editor-screened travel deals and destination advice. Sherman's Top 25, a free weekly e-newsletter published every Wednesday, recently surpassed 4 million subscribers. The company also has syndication partnerships with leading web sites, including MSNBC.com, MSN.com, USAToday.com, and Yahoo!. Building on its trusted online brand, ShermansTravel Media launched Sherman's Travel, the first magazine for sophisticated travelers who are value-conscious, in October 2006.

www.shermanstravel.com

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Patrick Kowalczyk (patrick @ mkpr.com)

Gita Chandra (gita @ mkpr.com)

MKPR, 212-627-8098

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