The McGraw-Hill Companies: Outlook for 2004

Expect 2004 EPS from continuing operations to increase in mid-to-high single digits without the reoccurrence of the 30-cent after-tax benefit from the sale of the equity interest in our headquarters building

Expect 2004 EPS from continuing operations to increase in mid-to-high single digits without the reoccurrence of the 30-cent after-tax benefit from the sale of the equity interest in our headquarters building