Bloomberg Completes Acquisition of BusinessWeek

NEW YORK, December 1 - Bloomberg L.P., the world's most trusted source of information for
businesses and professionals, has completed the acquisition of BusinessWeek
from The McGraw-Hill Companies, Inc.

"We share with McGraw-Hill a commitment to editorial excellence and we
look forward to building on BusinessWeek's 80-year tradition of great
journalism," said Bloomberg Chairman Peter T. Grauer. "The reporting and
analytical resources of Bloomberg and BusinessWeek are unparalleled in their
ability to deliver timely, credible content to an influential and highly
sought-after audience."

"Bloomberg's universe of market makers and BusinessWeek's readership of
business decision makers create a powerful audience and a unique value
proposition for advertisers," said Daniel L. Doctoroff, president of
Bloomberg. "The BusinessWeek acquisition will yield significant benefits for
users of the BLOOMBERG PROFESSIONAL(R) service, and for our television,
online and mobile properties. We are delighted to welcome BusinessWeek to the
Bloomberg family."

BusinessWeek is a global source of business insight that inspires leaders
to turn ideas into action. BusinessWeek magazine, founded in 1929, is the
market leader among business periodicals with more than 4.7 million readers
each week in 140 countries.

Financial professionals rely on Bloomberg's media platforms for essential
information and context. The BLOOMBERG NEWS(R) service delivers breaking news
stories, real-time alerts, investigative and enterprise reporting on global
markets and the businesses, governments and individuals that rely on them.
The BLOOMBERG TELEVISION(R) 24-hour network reaches more than 200 million
homes. BLOOMBERG RADIO(R) services broadcast via Sirius XM Radio and
1worldspace(TM) satellite radio globally and on WBBR 1130AM in New York. The
award-winning monthly BLOOMBERG MARKETS(R) magazine and the BLOOMBERG.COM(R)
financial news and information Web site provide news and insight to
investors.

About Bloomberg

Bloomberg combines innovative technology with unmatched analytic, data,
news, display and distribution capabilities, to deliver critical information
via the BLOOMBERG PROFESSIONAL(R) service and multimedia platforms.
Bloomberg's media services cover the world with more than 2,200 news and
multimedia professionals at 146 bureaus in 72 countries. For more
information, please visit www.bloomberg.com.

The BLOOMBERG PROFESSIONAL service and data products are owned and
distributed by Bloomberg Finance L.P. (BFLP) except that Bloomberg L.P. and
its subsidiaries (BLP) distribute these products in Argentina, Bermuda,
China, India, Japan and Korea. BLOOMBERG and BLOOMBERG NEWS are trademarks
and service marks of Bloomberg Finance L.P., a Delaware limited partnership,
or its subsidiaries. All rights reserved.

Judith Czelusniak, +1-212-617-1212, jczelusniak at bloomberg.net