Shareholders Day
November 15, 2002

Following are transcripts of the presentations made at The Washington Post Company's Shareholders Day on November 15, 2002. The transcripts have been edited and contain clarifications.

The presentations at this Shareholders Day meeting contain certain forward-looking statements that are based largely on the Company's current expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results and achievements to differ materially from those expressed in the forward-looking statements. For more information about these forward-looking statements and related risks, please link to Risk Factors under Shareholder Information on this website and refer to the section titled "Forward-looking Statements" in Part I of the Company's Annual Report on Form 10-K.

INTRODUCTION OF ALAN FRANK
President and Chief Executive Officer
Post-Newsweek Stations


MR. GRAHAM: As CEO of Post-Newsweek Stations, Alan Frank is the head of our largest profit center.

He is proving himself a worthy successor to Bill Ryan, and that's really saying something. Like Bill, Alan worked for other companies before coming to Post-Newsweek. But it's fair to say he's spent most of his career at PNS.

I wanted you to hear from Alan to get a sense of how Post-Newsweek's strength in news, ratings, and revenue - and our willingness to be unconventional in the management of our stations - is paying off for Post-Newsweek stations and for shareholders.


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