Newspaper Division

The Washington Post -- a morning daily and Sunday newspaper published in Washington, D.C. For the 12-month period ending September 30, 1997, The Post's unaudited estimated average circulation was 793,000 daily and 1,108,000 Sunday. The Post maintains 20 foreign, 5 national, and 13 metropolitan news bureaus.

The Washington Post National Weekly Edition -- a tabloid publication of selected Post articles on politics and government, edited for a national audience, with a circulation of approximately 92,000.

The Washington Post Writers Group -- - a syndicator of 28 writers and cartoonists and material from Newsweek to newspapers and magazines throughout the world.

The Herald -- a morning daily and Sunday newspaper published in Everett, Washington, 30 miles north of Seattle. The Herald's unaudited estimated average circulation for the 12-month period ending September 30, 1997, was 54,692 daily and 64,159 Sunday.

Gazette Newspapers, Inc. -- a publisher of 25 community weekly newspapers in Montgomery, Frederick, Carroll, and Prince George's Counties, Maryland, with a combined controlled circulation of 390,000; one paid-circulation weekend newspaper with a circulation of 13,000 and a monthly business publication with a circulation of 30,000 in Montgomery County; a monthly technology publication with a circulation of 30,000 that covers technology in Maryland and is distributed throughout the Baltimore-Washington region; 11 military publications with a controlled circulation of 157,000; and operator of one of the largest commercial printing sites in the Washington area.

Robinson Terminal Warehouse -- a newsprint handling and storage facility with operations in Alexandria and Springfield, Virginia.

Capitol Fiber Inc. -- a handler and seller to recycling industries of old newspaper and other waste paper collected in the Washington/Baltimore area.

Broadcast Division

Post-Newsweek Stations -- the owner and operator of six network-affiliated VHF television stations.

WDIV -- the NBC affiliate in Detroit, Michigan, the 9th-largest broadcasting market in the United States, with 1,781,710 television households.

KPRC -- the NBC affiliate in Houston, Texas, the 11th-largest broadcasting market in the United States, with 1,624,340 television households.

WPLG -- the ABC affiliate in Miami, Florida, the 16th-largest broadcasting market in the United States, with 1,385,940 television households.

WKMG -- - the CBS affiliate in Orlando, Florida, the 22nd-largest broadcasting market in the United States, with 1,041,380 television households.

KSAT -- the ABC affiliate in San Antonio, Texas, the 38th-largest broadcasting market in the United States, with 648,550 television households.

WJXT -- the CBS affiliate in Jacksonville, Florida, the 54th-largest broadcasting market in the United States, with 502,370 television households.

Magazine Division

Newsweek -- a weekly news magazine published in New York City, with a 1998 circulation rate base of 3.1 million and a 12-month average circulation for 1997 of more than 3.2 million. Newsweek maintains 9 U.S. and 13 overseas bureaus.

Newsweek International -- a weekly English-language news magazine published in New York City and circulated throughout the world. For 1998, Newsweek International's combined circulation for its three editions is 752,000: Atlantic, 340,000; Pacific, 332,000 (including 92,000 for The Bulletin with Newsweek, Australia's largest news magazine); Latin America, 80,000.

Newsweek Japan (Newsweek Nihon Ban) -- a Japanese-language newsweekly with a circulation of 140,000. It is produced with TBS-Britannica, which translates and publishes the magazine.

Newsweek Korea (Newsweek Hankuk Pan) -- a Korean-language newsweekly with a circulation of 120,000. It is produced with Joong-ang Ilbo, a division of the Samsung Group, which translates and publishes the magazine.

Newsweek en Español -- a Spanish-language newsweekly with a Latin American circulation of 43,000. It is produced with Ideas & Capital, based in Miami.

Itogi -- a Russian-language newsweekly with a circulation of 85,000. Itogi, "summing up," is Russia's first independent newsweekly. It is produced by Seven Days Publishing, a subsidiary of Media Most.

Newsweek Productions -- a television production company that produces "HealthWeek," broadcast nationally on PBS, and other television programming and media projects.

Post-Newsweek Business Information, Inc. (formerly TechNews, Inc.) -- Headquartered in Vienna, Virginia, Post-Newsweek Business Information publishes trade magazines and organizes trade shows in three technology sectors: government computing, computer sales channels, and technology finance and investment.

Cable Division

Cable One, Inc. -- Headquartered in Phoenix, Arizona, Cable One systems served over 637,000 subscribers in 17 midwestern, western, and southern states in 1997. States served and the number of basic subscribers in each as of December 31, 1997, were:

Other Businesses

Kaplan Educational Centers -- Headquartered in New York City, Kaplan is one of the nation's premier education companies. With 1,200 locations in the U.S. and abroad, Kaplan provides individuals with a full range of resources to achieve their educational and career goals. The company also offers K-12 after-school programs at its Score! Educational Centers; customized education services for schools, universities, and businesses; books, software, and online services; and career/recruiting services through The Lendman Group and Crimson & Brown Associates.

Digital Ink Co. -- Headquartered in Arlington, Virginia, Digital Ink is the new-media and electronic-publishing subsidiary of The Washington Post Company. Its mission is to develop the company's editorial products and businesses on the World Wide Web. Digital Ink's flagship products include washingtonpost.com, The Washington Post's Web site (www.washingtonpost.com), Newsweek on America Online (Keyword: Newsweek), and Newsweek's forthcoming Web site (www.newsweek.com). washingtonpost.com offers the day's Washington Post, breaking news coverage, and extensive original news content, as well as a growing suite of cultural, community, and commerce services. Its Style Live service is the definitive insider's guide to the area's arts and entertainment scene. The washingtonpost.com Yellow Pages are a comprehensive, convenient online tool for accessing information on businesses in the Greater Washington area. Its Classified offerings--from autos and employment to real estate and rentals--are breaking new ground in the category and generating new revenue streams for the company.

LEGI-SLATE, Inc. -- Headquartered in Washington, D.C., LEGI-SLATE® is the nation's leading commercial online information service for legislation, regulations, and related news and analysis covering the federal government and all 50 state governments.

Moffet, Larson & Johnson, Inc. (80 percent of common stock) -- Headquartered in Arlington, Virginia, MLJ provides advanced network design support, software design tools, database services, and measurement hardware to the telecommunications industry. MLJ specializes in the design and development of advanced mobile, broadcast, and common carrier radio systems both domestically and internationally.

Affiliates

International Herald Tribune (50 percent of common stock) -- a daily newspaper headquartered in Paris, France. In 1997 the International Herald Tribune had an average daily paid circulation of 194,500 in 184 countries.

Los Angeles Times–Washington Post News Service, Inc. (50 percent of common stock) -- a supplier of news, features, commentary, and photos to 768 clients in 50 countries.

Bowater Mersey Paper Company Limited (49 percent of common stock) -- a newsprint manufacturer in Liverpool, Nova Scotia.