- Announces Repurchase of Up To 10 Million Additional Shares in '06 -

NEW YORK, April 26 /PRNewswire-FirstCall/ -- The Board of Directors of The McGraw-Hill Companies (NYSE: MHP) today voted to expand the Corporation's stock repurchase program by up to 10 million shares for 2006 and approved a regular quarterly dividend of $0.1815 on the Corporation's common stock.

"These actions once again demonstrate the Board's long-standing commitment to maximizing total shareholder value," said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies. "Since 1996, we have returned more than $5 billion to shareholders through dividend payments and share buybacks, including more than $1 billion in the first quarter of 2006."

The quarterly dividend of $0.1815 per share is payable on June 12th to shareholders of record on May 26th.

The Corporation's repurchase of up to 10 million additional shares this year would be over and above the 18.4 million shares The McGraw-Hill Companies has already purchased in 2006. Shares will be purchased from time to time on the open market, subject to market conditions.

In January, the Board authorized a new stock repurchase program for up to 45 million shares and announced plans to repurchase up to 18.4 million shares in 2006, including 15 million shares from the new program and 3.4 million shares remaining from the buyback program authorized in 2003. The Corporation completed repurchase of all 18.4 million shares earlier this year.

The McGraw-Hill Companies has paid a dividend each year since 1937 and is one of fewer than 32 companies in the S&P 500 that has increased its dividend annually for the last 33 years. The annualized rate of $0.726 per share, which includes a 10% increase approved by the Board in January of 2006, represents an average compound annual dividend growth rate of 10.3% since 1974.

About The McGraw-Hill Companies:

Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 290 offices in 38 countries. Sales in 2005 were $6.0 billion. Additional information is available at http://www.mcgraw-hill.com.

SOURCE  The McGraw-Hill Companies
    -0-                             04/26/2006
    /CONTACT:  Media Relations Contacts:
               Steven H. Weiss
               Vice President, Corporate Communications
               +1-212-512-2247 (office)
               +1-917-699-9389 (mobile)
               weissh@mcgraw-hill.comMary Skafidas
               Director, Corporate Communications
               +1-212-512-2826 (office)
               +1-347-351-6407 (mobile)
               mary_skafidas@mcgraw-hill.com

               Investor Relations Contact:
               Donald S. Rubin
               Senior Vice President, Investor Relations
               +1-212-512-4321 (office)
               +1-212-512-3840 (fax)
               donald_rubin@mcgraw-hill.com/
    /Web site:  http://www.mcgraw-hill.com /
    (MHP)

CO:  The McGraw-Hill Companies
ST:  New York
IN:  PUB FIN EDU
SU:  DIV

MJ
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6668 04/26/200614:35 EDThttp://www.prnewswire.com