UCG Terminates Pending Agreement to Sell OPIS Division to McGraw-Hill's Platts Division

Gaithersburg, Md.--UCG, a privately owned business-to-business information company, today announced it has terminated an agreement to sell its wholly-owned subsidiary, Oil Price Information Service, LLC (OPIS), to Platts, a division of The McGraw-Hill Companies, Inc. OPIS is a leading provider of news, pricing and software for buyers and sellers of petroleum products. On December 8, 2010, UCG announced its agreement to sell OPIS to Platts.

"In light of the concerns expressed by our customers, we have notified Platts that we are exercising our right to terminate the acquisition agreement."

"Since the initial announcement, our customers have informed us of their opposition to this combination," said Brian Crotty, CEO of OPIS. "In light of the concerns expressed by our customers, we have notified Platts that we are exercising our right to terminate the acquisition agreement,"Crotty said.

"We look forward to continuing to provide our customers with timely pricing data, comprehensive industry news, respected methodologies, and world-class customer service, as we have for over 30 years," Crotty added.