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McGraw-Hill Comments on its Portfolio Review and the 13D Filings by Jana Partners and Ontario Teachers' Pension Plan

NEW YORK, Aug. 1, 2011 /PRNewswire/ -- The McGraw-Hill Companies, Inc. (NYSE: MHP) today issued the following statement in response to Schedule 13D filings made by Jana Partners and Ontario Teachers' Pension Plan Board:

"As stated previously, McGraw-Hill is conducting a comprehensive portfolio review which includes reevaluating its strategic core to ensure it is appropriately allocating capital to generate shareholder value. This process began in the second half of last year with the creation of McGraw-Hill Financial and is expected to continue with additional significant actions in 2011. This process is designed to unlock superior shareholder value and accelerate global growth.

The Company had already announced the planned sale of one of its non-core businesses and the acquisition of two new businesses for its high-performing Platts business. In addition, the Company demonstrated its commitment to leveraging its strong cash flow and balance sheet to return capital to shareholders through the authorization of a new 50 million share repurchase program and has this year already bought back 7.7 million shares. The Company also announced at its second quarter earnings call on July 28 that it is now operating in a vastly improving legal and regulatory environment.

"The Company is evaluating G&A costs across the corporation to ensure it supports its businesses efficiently and effectively following the portfolio review."

About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global financial information and education company that helps professionals and students succeed in the Knowledge Economy. With leading brands including Standard & Poor's, McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, the Corporation has approximately 21,000 employees with more than 280 offices in 40 countries. Sales in 2010 were $6.2 billion. Additional information is available at http://www.mcgraw-hill.com.

The forward-looking statements in this news release involve risks and uncertainties and are subject to change based on various important factors, including worldwide economic, financial, liquidity, political and regulatory conditions; the health of debt (including U.S. residential mortgage-backed securities and collateralized debt obligations) and equity markets, including possible future interest rate changes; the health of the economy and in advertising; the level of expenditures and state new adoptions and open territory sales in the education market; the successful marketing of competitive products; and the effect of competitive products and pricing.

Contacts:

Investor Relations:
Donald S. Rubin
Senior Vice President, Investor Relations
(212) 512-4321 (office)
donald_rubin@mcgraw-hill.com

News Media:
Patti Rockenwagner
Senior Vice President, Marketing and Communications
(212) 512-3533 (office)
patti_rockenwagner@mcgraw-hill.com

SOURCE The McGraw-Hill Companies, Inc.