Forward-Looking Statements

This

presentation

contains

“forward-looking

statements,”

within

the

meaning

the

federal

securities

laws,

that

involve

risks

and

uncertainties.

All

statements

herein

that

address

activities,

events

developments

that

the

Company

expects

anticipates

will

may

occur

the

future,

including

the

Company’s

estimates

financial

performance,

and

such

things

business

strategy,

measures

implement

strategy,

competitive

strengths,

goals,

references

future

success

and

other

events

are

generally

forward-looking

statements.

The

Company’s

actual

results

may

differ

materially

from

its

estimates.

Whether

actual

results,

events

and

developments

will

conform

the

Company’s

expectations

subject

number

risks

and

uncertainties

and

important

factors,

many

which

are

beyond

the

control

the

Company.

Among

the

risks

and

uncertainties

which

could

cause

the

Company’s

actual

results

differ

from

those

contemplated

its

forward-looking

statements

are

the

risks

relating

the

Company’s

ability

refinance

its

debt;

the

Company’s

high

degree

leverage

and

significant

debt

service

obligations;

the

Company’s

ability

comply

with

covenant

requirements

its

agreements

with

its

lenders

and

its

indentures;

actions

rating

agencies;

industry

and

general

economic

conditions;

the

Company’s

ability

realize

its

expected

benefits

from

cost

savings

and

revenue

enhancement

initiatives;

and

the

risks

and

uncertainties

contained

the

Company’s

periodic

reports

filed

with

the

Securities

and

Exchange

Commission.

Consequently,

all

forward-looking

statements

made

herein

are

qualified

these

cautionary

statements

and

there

can

assurance

that

the

results,

events

developments

referenced

herein

will

occur

realized.

Exhibit 99.1

Management Action Plans –

Fiscal Year 2009 Bank EBITDA Impact

Fiscal 2009 Management Action Plans

–

Projected Cost Savings of $25.9 million

•

SG&A, Staff related and Production savings

–

Projected Revenue Enhancements of $8.3 million

•

Additional issues and Special Interest Publications

March 2006 to August 2008 headcount reduced by 15.0%

from 866 to 736 (a reduction of 130).

AMI Liquidity / Debt Covenants

Cash balance @ September 10, 2008

$37.2

million

Revolver balance @ September 10, 2008

$60.0

million

Quarterly term loan principal payments

$1.1

million

Q1 FY09 Act

Senior debt leverage ratio covenant

3.500x

Senior debt leverage ratio

3.481x

Bank EBITDA cushion ($ in thousands)

710

Total debt leverage ratio covenant

8.250x

Total debt leverage ratio

7.874x

Bank EBITDA cushion ($ in thousands)

5,920

Interest coverage ratio covenant

1.200x

Interest coverage ratio

1.326x

Bank EBITDA cushion ($ in thousands)

12,346

EBITDA Reconciliation –

Q1 Fiscal Year 2009

June 30,

(Dollars in Millions)

2008

2007

Net Income/(Loss)

0.4

(0.1)

Add:

Interest expense

23.5

24.7

Benefit for income taxes

(0.3)

(0.5)

Depreciation and amortization

2.7

3.3

Amortization of deferred debt costs

2.7

Amortization of deferred rack costs

3.0

3.5

EBITDA

32.0

33.6

Add:

Investment in launches and re-launches

(0.5)

0.1

Restructuring costs and severance

0.3

0.2

Professional fees

0.5

2.0

Management fees

0.5

Other

0.6

0.0

Bank EBITDA

33.4

36.4

Three Months Ended

Note:

EBITDA represents the sum of net income or loss, interest expense, income taxes, depreciation of property and equipment, and amortization of intangible assets, deferred

debt costs and deferred rack costs. Bank EBITDA is used in calculating covenant compliance under the Company’s credit agreement. Bank EBITDA is defined as EBITDA

excluding certain allowable charges. EBITDA and Bank EBITDA are not measures of financial performance in accordance with GAAP. You should not consider them as

alternatives to net loss as a measure of operating performance.

Our calculation of EBITDA and Bank EBITDA may be different from

the calculations used by other

companies and therefore comparability may be limited. We present

EBITDA to provide additional information regarding our performance and because it is a measure by

which we gauge our profitability. In addition, information concerning Bank EBITDA is being presented because it reflects an important component included in the financial

covenants of the Company’s credit agreement.

AMERICAN MEDIA OPERATIONS INC 8-K