Penthouse Magazine Acquires Internet Social Network Giant Adult FriendFinder for...

Penthouse Magazine Acquires Internet Social Network Giant Adult FriendFinder
for $500 Million
Penthouse Becomes Largest Global Adult Entertainment Company

BOCA RATON, Fla., Dec. 12 /PRNewswire/ -- Penthouse Media Group Inc.,
parent to Penthouse Magazine, one of the world's leading men's lifestyle
publications and producers of online, licensed and broadcast content and
materials, announced today that it has acquired internet social networking
giant Various, Inc. and its subsidiaries for $500 million in cash and
securities. With $340 million in projected combined 2007 revenues, this
acquisition makes Penthouse the largest adult entertainment company in the
world.
Various has an extensive affiliate network, as well as a rapidly growing
member base of more than 260 million consumers and a total paid subscriber
list in excess of 1.2 million. Various operates more than 25 online
communities including adultfriendfinder.com, which is a top 50 Web site
nationwide. Adultfriendfinder.com is one of the most highly trafficked Web
sites in the world with more than 18 million members.
"We are very excited to welcome Various and its employees as a part of the
Penthouse family," said Penthouse Media Group CEO Marc H. Bell. "Various is
an attractive addition to our already strong print platform, and one that puts
Penthouse in a very robust position in the ever-growing online social
networking arena. We like where the business combination puts us and that
this transaction will enhance PMGI's current and future licensing, print and
interactive ventures."
"We are excited to be combining our substantial internet presence with
one of the most recognized adult entertainment brands in the world," said Lars
Mapstead, VP of Marketing for Various, Inc. "Together we will expand in many
areas, both online and offline, to solidify our position as the world leader
in adult entertainment."
The transaction is the latest step in Penthouse's expansion march, with
the company having previously acquired Danni.com and the Jill Kelly
Productions library in separate 2006 transactions. Penthouse is continuing
its acquisition program as it continues to consolidate the industry into one
global brand.
About Penthouse Media Group Inc.
Penthouse Media Group Inc. is an international, multimedia entertainment
company. Its flagship publication, Penthouse Magazine, was founded in 1965.
Penthouse is globally recognized as one of the premier men's entertainment and
lifestyle brands and publishes a widely circulated group of publications. The
company also operates numerous adult entertainment and social networking Web
sites and provides adult video entertainment, as well as a broad array of
products and services via its numerous national and international licensees.
About Various, Inc.
Palo Alto based Various, Inc. is the trend-setter in the online personals
sector, distinguished by its creative marketing programs and technological
innovation. The company has developed dozens of owned and operated sites along
with many popular co-branded partner sites. Its holdings include FriendFinder
Network, Inc., a group of multi-cultural and multi-lingual dating, social
networking and personals websites; AdultFriendFinder.com and similar venues
for more intimate social networking such as Passion.com, alt.com and
outpersonals.com; and Streamray, Inc., with its popular video chat site
Cams.com. Visit www.friendfinderinc.com for more information.

Media Contact for Penthouse Media Group Inc.
Melanie Vigliotti
850-668-2222, mvigliotti@zimmerman.com

Kathleen Berzon
561.912.7034, kberzon@pmgi.com

Media Contact for Various Inc.
Lars Mapstead
831.901.4600, lars@legendarylars.com

SOURCE Penthouse Media Group Inc.

Melanie Vigliotti, +1-850-668-2222, mvigliotti@zimmerman.com; or Kathleen
Berzon, +1-561-912-7034, kberzon@pmgi.com, both for Penthouse Media Group
Inc.; or Lars Mapstead of Various Inc., +1-831-901-4600, or
lars@legendarylars.com