The Washington Post Company is a diversified media organization whose principal operations include newspaper and magazine publishing, broadcasting, and cable television systems. The company also produces electronic information services, provides test preparation, education, and career services, and offers online information covering federal and state legislative and regulatory activity. A complete listing of the company's activities can be found inside the back cover of this report.

Please note: This year's annual meeting of shareholders will begin at 8:00 a.m. on May 8, 1997, at The Washington Post Company, 1150 15th Street, N.W., Washington, D.C.