Bloomberg and BNA Satisfy Condition for Acquisition

Press Release

Announce Early Termination of Waiting Period Under Hart-Scott-
Rodino Antitrust Improvements Act

NEW YORK/ARLINGTON — Bloomberg Inc. (“Bloomberg”) and The
Bureau of National Affairs, Inc. (“BNA”) today announced that
Bloomberg received early termination of the waiting period under
the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended (the “HSR Act”) on September 15, 2011, in connection
with the previously-announced cash tender offer made by Brass
Acquisition Corp., a wholly-owned subsidiary of Bloomberg, to
purchase all of the outstanding shares of common stock of BNA at
a price of $39.50 per share, without interest and subject to any
required withholding of taxes.

Early termination of the waiting period under the HSR Act
satisfies one of the conditions necessary for consummation of
the tender offer. The tender offer continues to be subject to
the satisfaction of other customary conditions, including the
tender of a majority of the outstanding shares of BNA’s Class A
common stock.

Together, Bloomberg and BNA will form a unique combination of
premium content, deep subject matter expertise, proprietary data
and world class technological capabilities to provide
distinctive products and solutions for professionals and
decision makers in law, government, business and finance.

As previously announced, the tender offer is scheduled to expire
at 12:00 midnight, New York City time, on Wednesday, September
28, 2011. The tender offer may be extended pursuant to the
procedures described in the Offer to Purchase with respect to
the tender offer.

IMPORTANT NOTICE: This press release is neither an offer to
purchase or a solicitation of an offer to sell shares of the
common stock of BNA. The tender offer is being made pursuant to
a tender offer statement on Schedule TO, including an offer to
purchase, a letter of transmittal and related documents, which
has been filed with the United States Securities and Exchange
Commission (the “SEC”). INVESTORS AND BNA STOCKHOLDERS ARE
STRONGLY ADVISED TO CAREFULLY READ THE TENDER OFFER STATEMENT
(INCLUDING THE OFFER TO PURCHASE, THE LETTER OF TRANSMITTAL AND
THE RELATED TENDER OFFER DOCUMENTS) AND THE RELATED
SOLICITATION/RECOMMENDATION STATEMENT, AS WELL AS ANY AMENDMENTS
THERETO AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. The tender offer
statement has been filed with the SEC by Brass Acquisition Corp.
and Bloomberg, and the solicitation/recommendation statement has
been filed with the SEC by BNA. Investors and BNA stockholders
may obtain a free copy of the tender offer statement, the
solicitation/recommendation statement and other documents filed
with the SEC at the SEC’s website at www.sec.gov. These
materials have been or will be sent free of charge to all
stockholders of BNA. The tender offer statement and other
documents filed by Brass Acquisition Corp. or Bloomberg may also
be obtained free of charge by directing a request by mail to
MacKenzie Partners, Inc. at 105 Madison Avenue, New York, New
York 10016, by calling toll-free at +1 800-322-2885 or by email
to tenderoffer@mackenziepartners.com. The documents filed by
BNA may also be obtained free of charge by directing a request
by mail to the Corporate Secretary, The Bureau of National
Affairs, Inc., at 1801 South Bell Street, Arlington, Virginia
22202, Tel: 703-341-3000.

More information about the transaction is available on Bloomberg
website at:
www.bloomberg.com/about/pressroom/

About Bloomberg
Bloomberg, a leader in global business and financial information
and news, gives influential decision makers a critical edge by
connecting them to a dynamic network of information, people and
ideas. The company’s strength – delivering data, news and
analytics through innovative technology, quickly and accurately
– is at the core of the Bloomberg Professional service, which
provides real time financial information to more than 300,000
subscribers globally. Bloomberg’s enterprise solutions build on
the company’s core strength, using technology to allow customers
to access, integrate, distribute and manage data and information
across organizations more efficiently and effectively. Through
Bloomberg Law, Bloomberg Government and Bloomberg New Energy
Finance, the company provides data, news and analytics to
decision makers in industries beyond finance. And Bloomberg
News, delivered through the Bloomberg Professional service,
television, radio, mobile, the Internet and two magazines,
Bloomberg Businessweek and Bloomberg Markets, covers the world
with more than 2,300 news and multimedia professionals at 146
bureaus in 72 countries. Headquartered in New York, Bloomberg
employs more than 13,000 people in 185 locations around the
world.

About Bloomberg Law
Bloomberg Law is the first real-time legal research system that
integrates innovative search technology, comprehensive legal
content, company and client information, and proprietary news
all in one place. This collaborative workspace also includes a
suite of new tools for more effective legal analysis and more
productive client development. For more information, visit
BloombergLaw.com.

About Bloomberg Government
Bloomberg Government is the single source for professionals who
need to understand the business impacts of government actions so
they can work quickly, decisively and effectively. This
comprehensive, subscription-based, online tool collects best-in-
class data, provides high-end analysis and analytic tools, and
delivers deep, reliable, timely and unbiased reporting from a
team of more than 2,300 journalists and multimedia specialists
worldwide. For more information, visit BGov.com.

About BNA
BNA is the largest independent publisher of news, analysis, and
reference products for professionals. Delivering specialized
information to business, legal, and government professionals at
every level of expertise, BNA produces more than 300 news and
information services, including the highly respected Daily Labor
Report, U.S. Law Week, and Daily Report for Executives. For
more information, visit bna.com.

Forward Looking Statements
This announcement contains forward-looking statements relating
to the potential acquisition of BNA by Bloomberg. These forward-
looking statements are made within the meaning of and pursuant
to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The actual results of the
acquisition could vary materially as a result of a number of
factors, including: uncertainties as to how many of BNA’s
stockholders will tender their stock in the offer; the
possibility that competing offers will be made; and the
possibility that various closing conditions for the transaction
may not be satisfied or waived. Other factors that may cause
actual results to differ materially include those set forth in
the reports that BNA files from time to time with the SEC,
including its annual report on Form 10-K for the year ended
December 31, 2011 and quarterly and current reports on Form 10-Q
and 8-K. These forward-looking statements reflect BNA’s
expectations as of the date of this announcement. BNA undertakes
no obligation to update the information provided herein.

Contact for Bloomberg:

Ty Trippet, +1 212-617-2443, ttrippet@bloomberg.net