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The Wall Street Journal International Editions to Publish Washington Post Articles

NEW YORK and WASHINGTON, Jan. 16 -- Dow Jones & Company and The Washington Post Company announced today that the international editions of The Wall Street Journal will soon begin publishing daily news and opinion articles from The Washington Post. From April 1, 2003, The Post articles will be exclusive to the Journal for international newspapers in the English language. Terms of the agreement were not disclosed.

Under the agreement, The Wall Street Journal Europe and The Asian Wall Street Journal will have access each day to news and feature articles offered by the editors of The Post, as well as Post opinion columns. Journal editors will select articles for publication; it is expected that the Journal editions will publish both news and opinion articles from The Post each business day.

Karen Elliott House, publisher of The Wall Street Journal, said, "We are delighted to be able to bolster the already-unmatched business news and opinion package provided by the international editions of The Wall Street Journal with the addition of selections from the world-class work of the journalists of The Washington Post."

Boisfeuillet Jones Jr., publisher of The Washington Post, said, "After a long and successful newsprint business partnership with Dow Jones, we place a high value on having a journalistic relationship with The Wall Street Journal internationally."

Leonard Downie Jr., executive editor of The Washington Post, said: "We are excited about this opportunity to have some of The Washington Post's coverage of Washington and the world made available to readers of the international editions of The Wall Street Journal, who will benefit from the best that the two newspapers have to offer. This will significantly increase the world-wide audience for Washington Post journalism, which we believe will complement that of The Wall Street Journal in its international editions."

Paul E. Steiger, managing editor of The Wall Street Journal, said, "This agreement will provide even greater value, on a daily basis, to the readers of the international editions of The Wall Street Journal. We're particularly pleased we'll be able to supplement the work of our own network of more than 150 journalists outside our home country -- already the largest of any publication in the English language -- with that of The Washington Post's 25 foreign correspondents in 20 bureaus. We look forward, as well, to giving our readers access to The Post's award-winning exclusive news stories and analytic features from Washington and elsewhere."

The Washington Post Company owned an interest in the International Herald Tribune from 1966 through 2002. The Post will, under a previous agreement, continue providing access to its material to the IHT on a non-exclusive basis through March.

Notes to Editors:

The Washington Post Company

The Washington Post Company (NYSE: WPO) is a diversified media and education company whose principal operations include newspaper and magazine publishing, television broadcasting, cable television systems, electronic information services, test preparation, and educational and career services.

The Wall Street Journal Europe

The Journal Europe was founded in 1983 and has a circulation of 100,769 (ABC Jan - June 2002). Its circulation has grown by 20% since the launch of the expanded Journal Europe in February 2000 and 81% over the past 10 years. It is printed at six plants in Europe. It was ranked as the "fastest growing international title" in the European Business Readership Survey (EBRS 2002). 80% of its readers are European citizens and 74% are in top management.

The Asian Wall Street Journal

The Asian Journal was founded in 1976 and has a circulation of 84,467 (ABC Jan - June 2002). Its circulation has grown by 68% in the last six years. It is printed at nine plants in Asia. It has the largest advertising market share of pan-regional business newspapers in Asia and has been ranked as Asia's "most important business reading" for the last 14 years (Asian Business Readership Survey 2001). More than 75% of its readers are Asian citizens and 79% are in top management.

Dow Jones & Company

Dow Jones & Company (NYSE: DJ; dowjones.com) publishes the world's most vital business and financial news and information and has been serving the business community since 1882. Dow Jones & Company has nearly 1,700 news staff -- the largest network of business journalists in the world. In addition to publishing The Wall Street Journal and its international and online editions, Dow Jones & Company (NYSE: DJ; dowjones.com) publishes Barron's and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC of CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S. SOURCE The Washington Post Company

/CONTACT: Karen Miller Pensiero of Dow Jones & Company, +1-212-416-3213, karen.pensiero@dowjones.com; or Ann McDaniel of The Washington Post Company, +1-202-334-7329, mcdaniela@washpost.com/

/Web site: http://www.washpostco.com