DON LOGAN
Chairman and Chief Executive Officer
Time Inc.

Don Logan was named chief executive officer of Time Inc. in August 1994. He assumed the additional title of chairman in July 1997. He had been serving as the company's president and chief operating officer since June 1992. Time Inc. is a wholly owned subsidiary of Time Warner Inc. With 1999 revenues of $4.7 billion, it is the largest magazine publisher in the world, one of the largest book publishers, and a leading direct marketer of books, music and videos.

Time Inc. publishes Time, Fortune, Life, Sports Illustrated, Money, People, Entertainment Weekly, Sports Illustrated for Kids, Parenting, Baby Talk, Health, Hippocrates, Sunset, Asiaweek, Dancyu, Who, President, In Style, Time For Kids, This Old House, People en Espaol, Teen People, Your Company, and the magazines of Southern Progress Corporation. Its consumer book publishing operations consist of Warner Books and Little, Brown and Company. Time Life Inc. and Book-of-the-Month Club are Time Inc.'s direct marketing companies.

Before coming to New York as president and chief operating officer of Time Inc. in 1992, Mr. Logan was chairman and chief executive officer of Southern Progress Corporation. Located in Birmingham, Alabama, Southern Progress publishes Southern Living, Progressive Farmer, Cooking Light, Southern Accents, Weight Watchers and Coastal Living magazines and Oxmoor House books. Southern Progress is the largest regional magazine and book publishing company in the country and a wholly-owned subsidiary of Time Inc.

After joining Southern Progress as a data processing manager in 1970, Mr. Logan was promoted to vice president and general manager of the computer division, Akra Data, in 1972. In 1978, he was named president of Oxmoor House, the book publishing division of the company. Mr. Logan was promoted to executive vice president of Southern Progress in 1984 and became chairman and chief executive officer in 1986.

A native of Hartselle, Alabama, Mr. Logan graduated magna cum laude with a degree in mathematics from Auburn University. He earned a master's degree in mathematics from Clemson University where he also worked on a doctoral degree.

Mr. Logan was active as a trustee of Samford University, a member of the President's Council at the University of Alabama in Birmingham, a director of the Birmingham Chamber of Commerce, as well as Co-Chair of the Civil Rights Institute in Birmingham. He still serves on the Board of the Alabama Association of Independent Colleges and Universities. Mr. Logan is a member of the President's Advisory Council at Clemson University, the Board of Directors of Magazine Publishers of America, and the Board of Trustees of the National Book Foundation. He is also a member of the Board of Directors of First Health Group Corp., a major managed care organization based in Downers Grove, IL.

Mr. Logan is married to the former Sandra Tuten. They have two sons, Jeff and Stan.

STEPHEN B. SHEPARD
Editor-in-Chief
BusinessWeek

Stephen B. Shepard is editor-in-chief of BusinessWeek, a position he has held since November 1984.

Mr. Shepard began his journalistic career as an editorial trainee at The McGraw-Hill Companies, BusinessWeek's parent, in 1963. He moved to BusinessWeek in 1965 as an editor, serving in various domestic and international posts for ten years. He was also an adjunct professor at the Columbia University Graduate School of Journalism from 1970 to 1975, as well as the founder and director of the school's prestigious Walter Bagehot Fellowship in Economic and Business Journalism. From 1976 to 1981, Mr. Shepard was a senior editor at Newsweek, in charge of its national affairs coverage. From 1981 to 1982, he was the editor of Saturday Review. In November 1982, he returned to BusinessWeek as executive editor, and two years later he was named editor-in-chief.

Mr. Shepard is the recipient of several journalism awards and honors, including the National Magazine Award, the Sigma Delta Chi Headliners Award, the University of Missouri Award, and the Townsend Harris Medal Award given by the City College of New York's Alumni Association for his more than 25 years of journalistic excellence. In 1988, he was selected by the editors of Adweek magazine as "Editor of the Year." He is also the author of several freelance articles that have appeared in The Atlantic and The New York Times Book Review, and serves as a commentator on PBS's "Nightly Business Report." In 1992, Mr. Shepard was elected president of the American Society of Magazine Editors, a position he held until April 1994. In 1999 he was inducted into the American Society of Magazine Editors "Hall of Fame," and also received the Gerald M. Loeb Foundation Lifetime Achievement Award for business journalism.

Mr. Shepard received his bachelor's degree from the City College of New York in 1961, and was awarded an MS from Columbia University in 1964. He lives in New York City with his wife, Lynn Povich, and his two children, Sarah and Ned.