Thank you, first of all, for supporting us in our decision to
     reschedule the Summit. The following letter has been sent to all
     participants. Though we've been in touch with you by phone, we would
     greatly appreciate your reconfirming, as soon as you can, for our
     March event, as follows....


     TO:        FORTUNE Most Powerful Women in Business Summit
                Participants

     FROM:      Pattie Sellers

     DATE:      September 19, 2001

     RE:        Postponement of Summit


     My FORTUNE colleagues join me in hoping that you and your loved ones
     are safe during this time of tragedy.

     In the aftermath of last week's horrific events, we have decided to
     postpone the upcoming FORTUNE Most Powerful Women in Business Summit
     scheduled for October 3-5 in Pasadena.  The new dates and location are
     March 6-8, 2002, at La Quinta Resort & Club in Palm Springs,
     California.

     While certainly much could have been gained from bringing together
     this remarkable group of leaders at this time, it's clear that our
     participants need to stay close to their homes and businesses.

     Already, the March program promises to be every bit as strong as the
     October Summit.  Almost all of our speakers have confirmed that
     they can join us at La Quinta March 6-8. Carly Fiorina, Jack Welch,
     Oprah Winfrey, Andrea Jung, Shelly Lazarus, Pat Russo, Sherry
     Lansing, Gerry Laybourne, Jamie Gorelick, Lisa Caputo, Betsy Bernard,
     Lynn Forester, Louise Kitchen, Ann Richards, Stacey Snider, Ginger
     Graham, Nancy Peretsman, Anna Catalano, Marie Wilson, Peggy Brill,
     and Anna Deavere Smith have all locked in the new dates... and we
     hope you will too.

     Kindly let us know as soon as possible whether you can be with us next
     March by contacting Suzanne O'Leary at 212-522-9444 or
     Suzanne_o'leary@timeinc.com. Suzanne can arrange a full refund of your
     registration fee if you cannot join us at La Quinta. If you have
     already made reservations at The Ritz-Carlton Huntington Hotel & Spa
     in Pasadena, we will take care of canceling your room reservation for
     next month.

     Like you, we were anticipating an outstanding Summit next month. But
     we hope you agree with our decision to postpone it. We look forward to
     coming together in strength on March 6-8 to forge new and lasting
     relationships and to explore how extraordinary women rise to meet the
     challenges of extraordinary times.