Aviation Week and Standard & Poor's Announce New Global Airline and Aerospace Indices.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 6, 2001

Two new market indices for measuring the market performance of companies in the global airline and aerospace industries were unveiled today by Aviation Week and Standard & Poor's, two divisions of The McGraw-Hill Companies, (NYSE: MHP).

The new indices -- called the "Aviation Week (AW) Airline 25" and the "Aviation Week (AW) Aerospace 25" -- have been created by Standard & Poor's Index Services, which calculates the widely-followed S&P 500 and S&P Global 1200 Indices. The AW Airline 25 covers carriers whose state ownership does not exceed 50 percent. The AW Aerospace 25 covers companies that derive at least 50 percent of their revenues from aviation or aerospace.

Beginning in late April, these new indices will measure the daily, weekly and year-to-date market performance of companies around the world in both categories.

"These new Aviation Week indices represent approximately three-quarters of the total market capitalization of the global airline and aerospace industries," said Kenneth E. Gazzola, Aviation Week Executive Vice President/Publisher, who announced the two AW25s at today's Aviation Week/Merrill-Lynch European Transport Leaders Conference in London. "The breadth of these two indices, backed by the partnership between Aviation Week and Standard & Poor's, will quickly establish them as vital new tools for benchmarking and following these important global industry sectors."

According to Robert Shakotko, Managing Director, Standard & Poor's, "Equity indicies have become a well-accepted tool used to describe and measure industry performance. We are delighted to be contributing Standard & Poor's index expertise to our colleagues at Aviation Week in ways that will help them better serve their global audience."

About Aviation Week

With nearly 50 products and services and an audience of more than 1 million professionals and enthusiasts, Aviation Week is the largest multi media information provider to the global aviation and aerospace industry. AviationNow.com expands the company's extensive web presence by delivering the industry's most comprehensive real-time news, professional information and e-business Internet portal.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), provides independent financial information, analytical services, and credit ratings to the world's financial markets. Among the company's many products are the S&P Global 1200, the first real-time, global equity index, the S&P 500, the premier U.S. portfolio index, and credit ratings on more than 220,000 securities worldwide. With more than 5,000 employees located in 21 countries, Standard & Poor's is an integral part of the global financial infrastructure. For more information visit www.standardandpoors.com.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a global information services provider meeting worldwide needs in financial services, education and business-to-business information through leading brands such as Standard & Poor's, BusinessWeek and McGraw-Hill Education. The Corporation has more than 300 offices in 32 countries. Sales in 2000 were $4.3 billion. Additional information is available at http://www.mcgraw-hill.com.