WHSmiths Publishing Interests

Smith WH PLC
13 March 2003




13 March 2003





                            WH Smith PLC ('WHSmith')

                         WHSmith's Publishing Interests



Following recent speculation, WHSmith and Cinven Ltd. ('Cinven') confirm that
they have expressed an interest in acquiring AOL Time Warner Book Group Inc.
(which incorporates Little, Brown and Warner Books), with a view to combining
WHSmith's publishing business, Hodder Headline, with AOL Time Warner Book Group
Inc. This would enable Hodder Headline to create one of the leading
transatlantic publishers.

Cinven would be the sole provider of equity capital to fund the merger of the
two businesses.

Discussions are at a preliminary stage. A further announcement will be made in
due course, if appropriate.



- ENDS -



Enquiries



WH Smith PLC
Mark Boyle                          Investor Relations                  [phone]
Louise Evans                        Media Relations                     [phone]

Greenhill
James Lupton                        Managing Director                   [phone]




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