NEW YORK, Oct. 24 /PRNewswire-FirstCall/ -- The Board of Directors of The McGraw-Hill Companies (NYSE: MHP) today approved the repurchase of 35 million shares of the Corporation's common stock remaining under the stock repurchase program announced on January 31, 2007. This authorization is above and beyond the 30 million shares the Corporation already has repurchased in 2007.

The 35 million shares will be repurchased from time to time, subject to market conditions.

"The McGraw-Hill Companies expects to achieve double-digit growth in earnings per share in 2007, and the Board remains committed to maximizing shareholder value by returning cash to shareholders through share repurchases and annual increases in our cash dividend payments," said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies. "Since 1996, we have returned $8.0 billion to shareholders through dividend payments and share buybacks, including more than $2.1 billion returned in the first nine months of 2007."

On January 31, 2007, the Board had authorized a stock repurchase program for up to 45 million shares, or approximately 12.7% of the Corporation's outstanding shares. Of the 30 million shares already purchased during 2007, 10 million were purchased under this program. The other 20 million shares purchased to date in 2007 represented the remaining shares from a previous 45 million-share stock repurchase program approved by the Board on January 24, 2006.

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 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com.

Release issued: October 24, 2007

SOURCE The McGraw-Hill Companies

Contact: Media Relations Contacts: Steven H. Weiss Vice President, Corporate Communications (212) 512-2247 (office) (917) 699-9389 (mobile) weissh@mcgraw-hill.com Frank Briamonte Senior Director, Corporate Communications (212) 512-4145 (office) (201) 725-6133 (mobile) frank_briamonte@mcgraw-hill.com Investor Relations Contact: Donald S. Rubin Senior Vice President, Investor Relations (212) 512-4321 (office) (212) 512-3840 (fax) donald_rubin@mcgraw-hill.com