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The McGraw-Hill Companies Completes Acquisition of Appleton & Lange
June 25, 1999--The McGraw-Hill Companies (NYSE: MHP) today announced that it has completed its acquisition of medical publisher Appleton & Lange Inc. from Pearson plc for $46 million.

"The Appleton & Lange acquisition extends our global presence in the high-growth healthcare industry," said Harold McGraw III, president and chief executive officer of The McGraw-Hill Companies. "Their well-known medical texts, electronic products and clinical reference titles strengthen and complement our medical information businesses."

Appleton & Lange is a strong force in medical publishing. The Lange Series of basic medical science books, the Current Medical Diagnosis & Treatment series, and the First Aid series of review books are well-known and trusted brands in the medical marketplace. Appleton & Lange also has an extensive line of clinical reference products in obstetrics, internal medicine, pharmacology and other subjects.

The McGraw-Hill Companies provides cutting-edge healthcare and medical products in traditional and electronic formats to medical students, clinical practitioners and allied health field professionals. Its products include such professional titles as Harrison's Principles of Internal Medicine and Pulmonary Diseases and Disorders, as well as medical journals and magazines, including Healthcare Informatics and The Physician and Sportsmedicine.

Founded in 1888, The McGraw-Hill Companies is a leading information services provider meeting worldwide needs in education, business, finance, the professions and government. The corporation employs 16,500 people located in more than 400 offices in 32 countries. Sales in 1998 were $3.7 billion.