McGraw-Hill Education Acquires Open University Press

Business Wire, August 23, 2002

Business Editors

MAIDENHEAD, England--(BUSINESS WIRE)--Aug. 23, 2002

McGraw-Hill Education, a division of The McGraw-Hill Companies and one of the world's leading educational publishers, has announced the acquisition of Open University Press, a leading U.K. social science publisher for academic markets worldwide.

The purchase enables McGraw-Hill Education to expand its global offerings of print and online products in this growing academic area. Terms of the transaction were not disclosed.

McGraw-Hill Education publishes many market-leading textbooks for business, economics, computer science and engineering courses. With the purchase of Open University Press, McGraw-Hill Education has strengthened its offerings to include a well-established and highly successful list that is pre-eminent in areas such as education, health and social welfare, psychology and sociology.

McGraw-Hill Education will continue to use the Open University Press imprint and its offices in Buckingham. Distribution will be integrated into McGraw-Hill Education's Maidenhead facility.

Robert E. Evanson, President of McGraw-Hill Education, said: "Our acquisition of Open University Press underscores our commitment to growing McGraw-Hill Education in Europe and aligns with our mission to be a premier global provider of materials and services that improve teaching and learning."

Simon Allen, Managing Director of McGraw-Hill Education Europe, Middle East & Africa, added: "Open University Press is a highly respected brand in social science publishing with a strong backlist and an innovative forward publishing programme. The addition of Open University Press to McGraw-Hill Education complements our expansion plans in the U.K. to better serve our customers."

McGraw-Hill Education

McGraw-Hill Education is a leading global provider of electronic and print products that enhance teaching and learning in the pre-K through 12th grade, higher education and professional markets. It is a unit of The McGraw-Hill Companies (NYSE: MHP). Founded in 1888, The McGraw-Hill Companies is a global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's and BusinessWeek. The corporation has more than 300 offices in 33 countries. Sales in 2001 were $4.6 billion. Additional information is available at www.mcgraw-hill.com.

Open University Press

Founded in 1977, the Open University Press is one of the leading social science publishers in the U.K. With over 800 titles in the fields of education, health, social policy and psychology, Open University Press has many market-leading titles that are established worldwide.