Meredith Board Declares Dividend

Meredith Board Declares Dividend

DES MOINES, Iowa, Nov. 8 /PRNewswire-FirstCall/ -- The Meredith Corporation (NYSE:MDP) Board of Directors today declared a dividend of $0.14 per share, payable on December 15, 2005 to shareholders of record on November 30, 2005. The Company has paid a dividend for 58 consecutive years and has increased its dividend for 12 consecutive years.

Meredith Corporation's dividend declaration follows its recent announcement of record first fiscal quarter diluted earnings per share of $0.52.

ABOUT MEREDITH CORPORATION

Meredith ( http://www.meredith.com/ ) is one of the nation's leading media and marketing companies with businesses centering on magazine and book publishing, television broadcasting, integrated marketing and interactive media. The Meredith Publishing Group is the leading magazine publisher serving women, reaching more than 75 million American women. The group features 25 subscription magazines-including Better Homes and Gardens, Ladies' Home Journal, Family Circle, Parents, American Baby, Fitness, and More-and approximately 200 special interest publications. Meredith owns 14 television stations, including properties in top-25 markets Atlanta, Phoenix and Portland, and an AM radio station.

Meredith has approximately 350 books in print and has established marketing relationships with some of America's leading companies including The Home Depot, DIRECTV, DaimlerChrysler, Wal-Mart, Procter & Gamble and Carnival Cruise Lines. Meredith's consumer database, which contains more than 85 million names, is one of the largest domestic databases among media companies and enables magazine and television advertisers to target marketing campaigns precisely. Additionally, Meredith has an extensive Internet presence that includes 32 web sites and strategic alliances with leading Internet destinations.

Source: Meredith Corporation

CONTACT: Shareholder and Financial Analyst Contact, Jim Jacobson,
Director of Investor Relations, +1-515-284-2633, jim.jacobson@meredith.com ,
or Media Contact, Art Slusark, Vice President-Corporate Communications,
+1-515-284-3404, art.slusark@meredith.com , both of Meredith Corporation

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

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