Time Inc. and Modern Media Group Cooperate in Launching the Weekly InStyle Modern Lady in China

NEW YORK & SHANGHAI–(BUSINESS WIRE)–Time Inc. (NYSE:TIME) and Modern Media Holdings Limited (SEHK: 72)
(“Modern Media”, together with its subsidiaries, collectively the
“Modern Media Group”) announced today the introduction of InStyle Modern
Lady, that marks the leading fashion brand’s first weekly edition and
its 14th global edition. Beginning on May 13, InStyle Modern Lady will
rebrand Modern Media’s existing publication Modern Lady and its app,
iLady.

“We are thrilled that Modern Media Group will provide our upscale,
sophisticated and fun style content to women in the largest market in
the world,” said Steve Marcopoto, President of Time Inc. International.
“InStyle inspires women across the globe with its coverage of celebrity,
fashion, beauty and popular culture in an entertaining and relatable
voice. We welcome the women of China to our global family.”

InStyle Modern Lady will be distributed throughout the Chinese mainland
with an expected distribution of more than one million. Jerri Ng, former
Editor-in-Chief of Modern Lady, will be Editor-in-Chief of the Brand.
Amy Young, former Publisher of Modern Lady Weekly, has been appointed
Publisher of InStyle Modern Lady.

Launch advertisers for the May 13 issue thus far include premium
fashion, beauty and luxury lifestyle brands: Chanel, Louis Vuitton,
Dior, Fendi, Max Mara, Michael Kors, Shanghai Tang, Omega, Hearts on
Fire, De Beers, Dazzle, Estee Lauder, Guerlain, Lancôme, L’Oréal Paris,
Sephora, Mary Kay and Baccarat, among others.

“I believe that this marks the beginning of a new and exciting era.”
said Thomas Shao, Chairman and Chief Content Officer of Modern Media
Group. “The launch of InStyle Modern Lady will bring a much more joyful
reading experience and international fashion and lifestyle information
to readers. Also, it will have a significant favorable impact on the
development of both Modern Media Group and Time Inc.”

Modern Lady launched in 2008 as a high-end fashion magazine produced
locally that generated a weekly circulation of over a million. Its
companion app, iLady365, regularly ranks in the app store with more than
5.4 million downloads. iLady365 is regularly ranked No.1 in the women’s
interest- news magazine category in app store.

ABOUT INSTYLE

InStyle is one of the most successful global fashion media brands, with
a cross-platform reach of more than 30 million spanning print, online,
digital and social media and live events. As an influential leader at
the nexus of celebrity, fashion, beauty and popular
culture, InStyle includes the signature magazine, with 14 international
editions across 5 continents, InStyle.com,
and multiple brand extensions, including the annual InStyle Awards and
the weekly video series “Dirty Laundry.”

ABOUT TIME INC.

Time Inc. (NYSE:TIME) is a leading content company that engages over 150
million consumers every month through our portfolio of premium brands
across platforms. By combining our distinctive content with our
proprietary data and people-based targeting, we offer highly
differentiated end-to-end solutions to marketers across the multimedia
landscape. Our influential brands include People, Time, Fortune, Sports
Illustrated, InStyle, Real Simple and Southern Living, as well as
approximately 50 diverse titles in the United Kingdom. Time Inc. has
been extending the power of our brands through various acquisitions and
investments, including Viant, an advertising technology firm with a
specialized people-based marketing platform; The Foundry, Time Inc.’s
creative lab and content studio; and the People Entertainment Weekly
Network (PEN). The Company is also home to celebrated events, such as
the Time 100, Fortune Most Powerful Women, People’s Sexiest Man Alive,
Sports Illustrated’s Sportsperson of the Year, the Essence Festival and
the Food & Wine Classic in Aspen.

ABOUT MODERN MEDIA

Modern Media Group is a leading integrated media content creator and
provider company based in Mainland China, targeting high-end media
consumers in the fields of news, business, finance, art, fashion,
lifestyle, design and leisure. Modern Media Group is structured in two
main business segments, namely “print media and art”, and “digital media
and television” aimed at serving and engaging China cultural and social
elites through print and digital media platforms, art events and
exhibitions, and Television programs productions. Modern Media Group
interactive, multi-media and multi–functional platforms are all sharing
the same core values: International minded, High Quality driven, with a
Contemporary momentum. Modern Media Group flagship publications include
“Modern Weekly”, “Modern Lady Weekly”, “Bloomberg Businessweek/China” both
Simplified Chinese and Traditional Chinese Editions, and other
publications such as “Life Magazine”, “LEAP”, “The Art Newspaper”,
“LOHAS”, “Numero” and “IDEAT”. Modern Media Group is also strongly
engaged in its mobile digital media platforms development such as
“iWeekly”, “iLady365” (formerly “iLady”), “Bloomberg Businessweek
彭博商業周刊繁體中文版” and “Bloomberg Businessweek 商業週刊中文版”. Modern Media Group is
registered in Hong Kong Stock Exchange under the code SEHK: 72.

Contacts

Time Inc.
Jill Davison, 212-522-0105
Jill.Davison@timeinc.com
or
Dana
Baxter, 212-522-1634
Dana.Baxter@timeinc.com