January 13, 2001

Jerry Powers, publisher of South Florida's premier glossy lifestyle magazine, Ocean Drive, and Emilio Estefan, Jr., chairman of Estefan Enterprises, Inc. unveil a new publication titled Ocean Drive en Espanol. Through this partnership, Ocean Drive magazine, famous for its covers of the world's hottest supermodels and a source of all that is hip and chic, will now present its renown cutting-edge style to Spanish-speaking audiences everywhere.

The inaugural issue, May 2001, will feature the first cover of pop music superstar Gloria Estefan, shot exclusively for the magazine by famed photographer David LaChapelle. One of the world's most popular Latin performers, Gloria Estefan was personally selected by Mr. Powers to grace the cover of Ocean Drive en Espanol because she represents the beauty, character and cultural vibrancy that the magazine will portray.

"For the past nine years, Ocean Drive has been the palette that illustrates South Florida and delivers it to the world. It has become obvious that our affluent, style-conscious Hispanic readers now demand a magazine of their own," stated Powers. "We are thrilled to be working with Emilio Estefan, Jr. who embodies all of what makes South Florida so rich and unique in creating Ocean Drive en Espanol for our Spanish-speaking readers of the U.S. and abroad."

Ocean Drive en Espanol's style and content will be completely original and distinctive. The new magazine will focus on the young, aspiring Hispanic person as well as on the unique lifestyle of the established Miami Hispanic businessperson, mover and shaker and socialite from an insider's point of view.

Like its sister publication, Ocean Drive en Espanol will concentrate heavily on fashion, nightlife, travel, arts, design and will chronicle the most exclusive, glamorous social events of the year brought to life in the famous "Shot-on-Site" pages each and every month. In keeping with South Florida's fame for being the epicenter of Latin entertainment, Ocean Drive en Espanol will also concentrate on the fast-moving music and movie scenes and will profile the skyrocketing careers of today's hottest Latin celebrities and musicians. Ocean Drive en Espanol will be a high-gloss monthly at an 11-month frequency in the recognizable oversize format.

"We are very excited about partnering with Jerry Powers and Ocean Drive to offer Hispanics a vehicle that will continue to highlight and empower our emerging culture. I am confident that Latinos from the United States and the rest of the world will truly enjoy reading Ocean Drive en Espanol as it showcases Miami, its people, and rich diversity," stated Emilio Estefan, Jr., chairman of Estefan Enterprises, Inc. and co-publisher/co-founder of Ocean Drive en Espanol.

Jerry Powers will remain publisher of Ocean Drive and Ocean Drive en Espanol and Emilio Estefan, Jr. will serve as co-publisher/co-founder of Ocean Drive en Espanol. While Glenn Albin, Ocean Drive's editor-in-chief will oversee the new magazines style and content. Sara "Fifi" Castany, former editor-in-chief of Cosmopolitan en Espanol has been appointed editor of Ocean Drive en Espanol. Carlos Suarez has been appointed Art Director. Ocean Drive en Espanol will operate independently of its sister publication, with its sales department headed up by Ocean Drive's Vice President of Sales, Anolan Dragitsch.

Ocean Drive en Espanol will be distributed nationally and internationally through Curtis Circulation Company, a worldwide periodicals distributor, representing many leading and prestigious publishers. Curtis Circulation Company is a division of Hachette Distribution Services, headquartered in Paris. The newsstand price for the magazine will be $5.

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