The McGraw-Hill Companies to Sell Information Technology and Communications Group

BYTE, Data Communications, LAN Times, tele.com and NSTL Testing Unit Sold to CMP Media, Inc.

New York, NY, May 5, 1998 -- The McGraw-Hill Companies (NYSE:MHP) today announced that it signed an agreement to sell its Information Technology and Communications Group, which includes the magazines BYTE, Data Communications, LAN Times, and tele.com, and the testing business NSTL, formerly known as National Software Testing Labs.

The McGraw-Hill Companies has agreed to sell the Information Technology and Communications Group to CMP Media, Inc. (Nasdaq:CMPX) of Manhasset, NY. The acquisition price was $28.6 million. The transaction is expected to close within 30 days.

"This sale is consistent with The McGraw-Hill Companies’ strategy to build our leading positions in global financial services, publishing and information and media services while we exit businesses where we are not among the industry leaders," said Harold McGraw III, president and chief executive officer of The McGraw-Hill Companies.

Michael Leeds, president and chief executive officer of CMP, said, "The McGraw-Hill Companies’ technology titles do perfectly complement CMP’s and, as an integrated group, will enable us to offer our customers unparalleled access to every audience within the business computing market. NSTL will broaden the services we are able to offer customers as we expand our capabilities into new areas outside print. We are equally excited about welcoming the creative, talented people who will soon become part of the CMP family."

The McGraw-Hill Companies Information Technology and Communications Group includes:

• BYTE -- the leading publication relied on by the technology elite in end-user organizations to provide information on new and emerging technologies,
• DATA COMMUNICATIONS -- the premier global publication for network architects who build and manage large enterprise communication networks for their organizations,
• LAN TIMES -- the primary information source on technology offering business solutions for information systems managers who manage distributed computing environments,
• tele.com – providing information on business and technology for the people building the new public network services and offerings, and
• NSTL, which provides the global standards for information technology as the world’s leading independent information technology testing lab.

The agreement also provides for an ongoing relationship between CMP and The McGraw-Hill Companies’ publications, including Business Week with which it will collaborate on a technology conference.

CMP Media, Inc. is the only high-tech media company providing essential information and marketing services to the full technology spectrum – the builders, sellers and users of technology worldwide. With its portfolio of leading newspapers, magazines, custom publishing, Internet products and conferences, CMP Media is uniquely positioned to offer marketers comprehensive, integrated solutions tailored to meet their individual needs. Online editions of the company’s print publications, which include EE Times, Computer Reseller News, InformationWeek, InternetWeek, Network Computing and Windows Magazine, along with products and services created exclusively for the Internet, can be found on CMPnet at http://www.CMPnet.com.

Founded in 1888, The McGraw-Hill Companies is a leading information services provider, meeting worldwide needs in education, business, finance, the professions and government. Sales in 1997 were $3.5 billion.