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Baker & Taylor, Inc. and Yankee Book Peddler, Inc.
Baker & Taylor, Inc.( 06/22/1999 )

Baker & Taylor, Inc (B&T) and Yankee Book Peddler, Inc. (YBP) announced today the merger of B&T's Academic Library Services business with YBP. The newly formed unit will operate under the name of YBP Library Services, a wholly owned subsidiary of Baker & Taylor, and continue to be based in Contoocook, NH. To facilitate inter-company development, Glen Secor, Chief Executive Officer of YBP will join B&T's executive committee and James Ulsamer, President of Baker & Taylor Books, will join YBP's executive committee.

"Yankee's leadership position in Approval plans, management of bibliographic information for academic libraries, and customer responsiveness, combined with Baker & Taylor's extensive inventory and distribution capability, enhances YBP, Inc.'s position as the leader in the supply of books and information to academic institutions, " stated Jim Ulsamer, President of Baker & Taylor Books.

Commenting on the strengths that the combined companies will bring to the marketplace, John Secor, YBP's Chairman, said, "In the past decade, we've been approached by many companies. But B&T was the first with whom we truly shared a common vision, backed by real synergies. B&T's strengths in fulfillment and electronic bibliographic information complement our own expertise in academic bibliography and library technical services. Together we are in the position to set the standard for academic library services in the next millennium."

Customers should benefit substantially from the merger of the two companies. Plans are already underway to make YBP's US and UK approval plan services and technical services available to B&T's customers. In addition, YBP's customers will soon be able to take advantage of B&T's extraordinary inventory of academic books and audiovisual titles, slashing delivery times for these materials. As the collaboration continues, standing order services for both companies will benefit from bringing together B&T's Web-based systems and YBP's title coverage. Long term plans include joint development of information products based on the extensive databases of the two companies which produced such cutting edge products as YBP's GOBI (Global Online Bibliographic Information) and B & T' s Title Source. This will enhance the company's position as the world's most comprehensive information source for English language titles.

YBP's Yankee Rights Management (YRM) Division, including its Copyright Direct technology and service, is not included in this merger. Instead, YRM will be spun out as a separate company. Glen Secor, in addition to continuing as CEO of YBP, will serve as President of YRM.

Baker & Taylor, Inc. is a global information and entertainment services company that offers a wide range of products to libraries, educational institutions, and both traditional and Internet retailers. Baker & Taylor is based in Charlotte, NC.

Yankee Book Peddler, Inc., founded in 1971 is based in Contoocook, New Hampshire and operates in the UK as Lindsay & Howes, located in Godalming, England. YBP is an international full-service bookseller specializing in academic book approval plans and library technical processing.

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