ICOLC Meeting, Charlottesville, VA April 17, 2009 The Global Economic Crisis, Libraries and Publishers Reed Elfenbein, VP/Director of Sales and Marketing Christopher McKenzie, VP/Director of Institutional Sales, Americas/EMEA

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Publishers should expect widespread budget cuts, double digit in some cases and that these cuts will be prolonged

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Library Consortia are uniquely positioned to preserve customer relationships with publishers and to collaborate on behalf of their members to create mutually agreeable solutions.

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Libraries want flexible pricing that offers real options including the ability to reduce expenditures without disproportionate loss of content. –Publishers should avoid “take it or leave it” options

ICOLC Meeting, Charlottesville, VA April 17, 2009 Summary of Wiley Licensing Model Subscribed titles only (Core Collection) Add access to unsubscribed titles for a fraction of list price – all or a subset of all Consortia members can choose different options

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper The best publisher response to the current situation would be one that reduces prices with minimal or no loss of content –Are there specific measures you (publisher) can take that would enable true price reduction?

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Content, once discontinued, will be very difficult to reinstate

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Multi-year licenses must have “opt-out” provisions that allow members to re-join or “scale up” their holdings if they have cancelled –Is it possible to offer single year agreements without reductions in content while protecting consortia from the risk of higher rates of increase in subsequent years?

ICOLC Meeting, Charlottesville, VA April 17, 2009 Key Points of ICOLC Paper Libraries will have few if any resources to invest in new titles or more content elements, and can do without costly new interfaces and features.

ICOLC Meeting, Charlottesville, VA April 17, 2009 Near-term Future We will not overreact We are committed to working with all of our customers to find mutually acceptable terms We will be responsive and make this renewal year as “undisruptive” as possible

ICOLC Meeting, Charlottesville, VA April 17, 2009 Q&A