The McGraw-Hill Companies Completes Sale of McGraw-Hill Education to Apollo

 The McGraw-Hill Companies Completes Sale of McGraw-Hill Education to Apollo

Portion of Proceeds to be used to Resume Share Repurchases

PR Newswire

NEW YORK, March 22, 2013

NEW YORK, March 22, 2013 /PRNewswire/ --The McGraw-Hill Companies (NYSE: MHP)
today completed the sale of its McGraw-Hill Education business to investment
funds affiliated with Apollo Global Management, LLC (NYSE: APO). As previously
disclosed, the purchase price was $2.4 billion in cash.

Going forward, the new Company, a high-growth, high-margin business serving
the global capital and commodity markets, will be renamed McGraw Hill
Financial, subject to shareholder approval, in the second quarter of this
year.

As announced on February 12, 2013, the Company introduced 2013 revenue
guidance of high single-digit growth and adjusted diluted EPS guidance of
$3.10 to $3.20, approximately a 15% increase from 2012 adjusted diluted EPS
from continuing operations of $2.75.

The Company is using a portion of the approximately $1.9 billion in after tax
proceeds from the sale to pay down short-term debt, in part driven by the
special dividend paid in 2012, to resume share repurchases and to make
selective tuck-in acquisitions.

"Consistent with our commitment to maximizing shareholder value, McGraw Hill
Financial expects to continue to return cash to shareholders and to invest for
growth," said Harold McGraw III, Chairman, President and CEO of The
McGraw-Hill Companies.

"We have successfully completed our Growth and Value Plan, which had as its
cornerstone the separation of our financial information and education
businesses," continued Mr. McGraw. "The steps we have taken have unlocked
value for shareholders, positioned the assets of McGraw-Hill Education for
long-term success and accelerated the growth potential of the new McGraw Hill
Financial."

"A very special thank you goes to all McGraw-Hill Education employees, past
and present. The Board of Directors and management team express our deep
gratitude for their hard work, dedication and unwavering commitment to
education," concluded Mr. McGraw. "The men and women of McGraw-Hill Education
have enabled the company to deliver engaging, adaptive and personalized
solutions that achieve the best possible outcomes for students, instructors
and institutions, and we know they will continue to do so."

Forward-looking Statements:
Statements in this news release that are not historical facts are
forward-looking statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or implied in any forward looking statement.
In particular, share repurchases are subject to market conditions. More
detailed information about factors that may affect our performance may be
found in our filings with the Securities and Exchange Commission, including
our most recent Annual Report on Form 10-K, which can be obtained at its
website at http://www.sec.gov. We undertake no obligation to publicly update
any forward-looking statements, whether as a result of new information, future
events or otherwise.

About The McGraw-Hill Companies:
The McGraw-Hill Companies, to be renamed McGraw Hill Financial (subject to
shareholder approval), is a powerhouse in credit ratings, benchmarks and
analytics for the global capital and commodity markets. Leading brands
include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones
Indices, Platts, CRISIL, J.D. Power and Associates, McGraw-Hill Construction
and Aviation Week. The Company has approximately 17,000 employees in 27
countries. Additional information is available at www.mcgraw-hill.com.

Investor Relations: http://www.mcgraw-hill.com/investor_relations

Get news direct from McGraw-Hill via RSS:
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=newsRSS

Contacts for The McGraw-Hill Companies:

Investor Relations:
Chip Merritt
Vice President, Investor Relations
(212) 512-4321 (office)
chip_merritt@mcgraw-hill.com

News Media:
Jason Feuchtwanger
Director, Corporate Media Relations
(212) 512-3151 (office)
jason_feuchtwanger@mcgraw-hill.com

SOURCE The McGraw-Hill Companies

Website: http://www.mcgraw-hill.com
 
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