FOR IMMEDIATE RELEASE
                                                           ---------------------


                 Information Holdings Inc. Subsidiary Completes
                         Tender Offer for Liquent, Inc.

     Stamford, CT, December 20, 2001 - Fluid Acquisition Corp., a wholly owned
subsidiary of Information Holdings Inc. (NYSE: IHI), announced today that it has
accepted for payment approximately 16,839,161 shares of common stock (including
approximately 5,942,981 shares tendered by means of guaranteed delivery) of
Liquent, Inc. (Nasdaq: LQNT) at a purchase price of $2.27 per share, net to the
seller in cash, in accordance with its tender offer for all outstanding shares
of Liquent. As of the expiration of the tender offer at 12:00 midnight, New York
City time, on Wednesday, December 19, 2001, the Liquent shares validly tendered
and accepted for purchase constituted approximately 92% of the total outstanding
shares of Liquent.

     Information Holdings Inc. intends to merge Fluid Acquisition Corp. with and
into Liquent in accordance with the merger provisions of Delaware General
Corporation Law. As a result of the merger, Liquent will become a wholly owned
subsidiary of IHI and each remaining outstanding share of Liquent will be
converted, subject to appraisal rights, into the right to receive $2.27 in cash,
without interest.

     The statements in this press release, which are not historical facts, are
forward-looking statements. These forward-looking statements involve risks and
uncertainties that could render them materially different. Forward-looking
statements are typically statements that are preceded by, followed by or include
the words "believes," "plans," "intends," "will," "expects," "anticipates," or
similar expressions. Actual results may differ materially from the results
predicted, and reported results should not be considered as an indication of
future performance. These forward-looking statements involve risks and
uncertainties that could render them materially different. More information
about factors that could potentially affect IHI's financial results is included
in IHI's filings with the SEC, including its quarterly report on Form 10-Q for
the quarter ended September 30, 2001, and its Annual Report on Form 10-K for the
year ended December 31, 2001. The forward-looking information in this release
reflects management's judgment only on the date of this press release. IHI
undertakes no responsibility to publicly update the forward-looking statements
contained in this press release.

For more information, contact:
Vincent A. Chippari
203-961-9208
vchippari@informationholdings.com