United Business Media (UBM), the listed UK media group, announced its intention to sell Exchange & Mart and Auto Exchange. This decision is the outcome of a review of UAP's portfolio, following a recent UBM reorganisation. The review determined that these titles would be more valuable to other organisations and therefore that a sale is in the best interests of UBM shareholders, with proceeds to be reinvested in UBM's core businesses. UBM has appointed Merrill Lynch to conduct the disposal. In 2004, the UAP automotive titles now for sale generated £35.8m of revenue, online page impressions on the Exchange & Mart website averaged well over 5m per month, and Auto Exchange held a 70% share of free pick-up magazines and achieved a 7% growth in ad sales over 2003.