D&B REPORTS DOUBLE-DIGIT REVENUE GROWTH FOR SECOND CONSECUTIVE QUARTER; Investment Strategy Continues to Drive Topline Expansion; Earnings Growth in Line with Expectations.

WILTON, Conn.--(BUSINESS WIRE)--July 19, 1995--Dun & Bradstreet posted second-quarter reported revenue growth of 10.4 percent and underlying revenue growth of 6 percent, sustaining the higher rates of topline performance achieved in the first-quarter.

In line with expectations, the company reported second-quarter earnings of $.86 per share, up 1.2 percent from $.85 per share a year ago, reflecting previously announced plans to increase investment spending company-wide in 1995 and a significant cyclical decline at Moody's Investors Service.

"This marks the second consecutive quarter of sustained accelerated revenue growth, driven by D&B's aggressive investments in new revenue growth initiatives," said Robert E. Weissman, chairman and chief executive officer.

"Strong reported revenue growth was achieved by A.C. Nielsen, Dun & Bradstreet Information Services, IMS International, Nielsen Media Research, Gartner Group and Dataquest," added Weissman. "Moreover, for the second quarter in a row, both D&B Software and Nielsen U.S. posted modest revenue gains versus last year."

Excluding Moody's, D&B achieved underlying revenue growth of 7 percent and reported growth of 12 percent.

Second-quarter reported revenue increased to $1,307,400,000 from $1,184,700,000 a year ago.

Second-quarter net income grew 1.1 percent to $146,200,000 from $144,600,000 a year ago.

Operating income in the second quarter increased 2.8 percent to $220,000,000 from $214,100,000 a year ago. Growth in operating income was held down by the substantial increase in investment spending on new revenue initiatives, the decline at Moody's and a decline at American Credit Indemnity due to a significant increase in receivable-loss claims related to several major insolvencies.

The company reiterated it is anticipating 1995 underlying revenue growth in the mid-single digits, and growth in earnings per share at or nearly at D&B's underlying topline performance. Reported revenue growth for 1995 is expected to be in the high-single digits.

The company reported second-quarter non-operating expense--net of $17.8 million, compared with $12.2 million of expense a year ago. Non-operating expense--net in the second quarter of 1995 increased, in part, due to a lower cash position as a result of the use of cash for acquisitions and past restructuring and severance programs, higher interest rates paid on increased U.S. short-term borrowings, and higher minority interest expense related to both Gartner Group's increased income and to a previously disclosed limited partnership.

D&B's second-quarter tax rate was 27.7 percent, compared with the second-quarter 1994 tax rate of 28.4 percent.

SECOND-QUARTER SEGMENT RESULTS

Marketing Information Services reported a 21.4 percent increase in second-quarter revenue to $587,448,000 from $483,809,000 a year ago. Excluding the impact of a weaker U.S. dollar and acquisitions, including Survey Research Group (SRG), AGB Australia/New Zealand and Amfac Chemdata, second-quarter revenue growth for the segment was about 9 percent. IMS International reported second-quarter revenue of $191 million, up 16 percent on a reported basis and up 8 percent, excluding the impact of acquisitions and the dollar. For the full year, the company continues to expect IMS' underlying revenue growth to be in the double-digits, driven by new product roll-outs in the second half of the year. A. C. Nielsen reported second-quarter revenue of $329 million, up 28 percent on a reported basis and up about 8 percent, excluding the impact of acquisitions and the dollar. Nielsen Media Research had strong underlying revenue growth in the second quarter.

               SECOND-QUARTER 1995 SEGMENT PERFORMANCE
                       (Dollars in thousands)

                                       2Q 1995     2Q 1994    % Change
                                       Operating   Operating
                                       Revenue     Revenue
Segment
Marketing Information Services         $587,448    $483,809      21.4%
Risk Management and Business
 Marketing Information Services        $426,111    $391,950       8.7%
Software Services                      $108,249    $ 99,127       9.2%
Directory Information Services         $ 89,895    $103,184     -12.9%
Other Business Services                $ 95,724    $106,633     -10.2%

    Risk Management and Business Marketing Information Services
reported second-quarter revenue growth of 8.7 percent to $426,111,000
from $391,950,000 a year ago.  Excluding the impact of a weaker U.S.
dollar and the acquisition of Orefro L'Informazione in Italy, S&W in
France and Novinform in Switzerland, segment revenue increased by
about 4 percent.  Moody's posted a significant decrease in revenue,
principally due to the continued decline in public-debt refundings.
Dun & Bradstreet Information Services reported revenue of $341
million, up 14 percent from the same year-ago period.  Excluding the
impact of acquisitions and the dollar, DBIS's revenue was up 7
percent.  DBIS U.S.  had second-quarter revenue of $183 million, up
by about 6 percent and fueled in part by strong growth in business
marketing services products.  Second-quarter sales of U.S.  credit
services increased in the mid-single digits.  DBIS Europe's
second-quarter revenue increased by 28 percent on a reported basis.
Excluding the impact of acquisitions and the dollar, DBIS Europe's
revenue increased by 5 percent.
    Software Services reported a 9.2 percent increase in
second-quarter revenue to $108,249,000 from $99,127,000 a year ago.
Excluding the impact of the dollar and the acquisition of Pilot
Software, underlying revenue decreased slightly due to a decline at
Sales Technologies.  D&B Software's second-quarter 1995 underlying
revenue increased modestly from a year ago.  Positive customer
response to D&B Software's new client/server products, a new
management team, an enhanced marketing program and renewed focus on
the extensive base of mainframe customers continues to result in
significantly improved performance.
    Directory Information Services reported second-quarter revenue of
$89,895,000, down 12.9 percent from $103,184,000 a year ago, due to
changes in commission rates and other contractual arrangements with
telephone companies, as well as timing factors.  Excluding the impact
of timing, revenue declined modestly for the quarter.  Underlying
second- quarter sales of Directory Information Services yellow pages
directories showed a moderate increase.
    Other Business Services reported first-quarter revenue of
$95,724,000, down 10.2 percent from $106,633,000 a year ago.
Excluding acquisitions, divestitures and timing factors, segment
revenue increased about 23 percent.  Gartner Group had excellent
growth in second-quarter revenue.  Dataquest achieved substantial
growth for the quarter.  NCH Promotional Services reported a decrease
in second-quarter revenue, reflecting a decline in worldwide coupon
redemptions and competitive pricing in the industry.

                          FIRST-HALF RESULTS
    In the first six months of 1995, reported revenue increased 10.6
percent to $2,527,000,000 from $2,283,900,000 a year ago.  Excluding
the effects of acquisitions, divestitures and a weaker U.S.  dollar,
first-half revenue for D&B's current portfolio of businesses was up
about 5 percent.
    For the first six months of 1995, D&B reported earnings per share
of $1.50, up 0.7 percent from $1.49 per share in the first six months
of 1994.
    First-half net income increased 0.7 percent to $255,000,000 from
$253,300,000 in the first half of 1994.
    Operating income in the first six months increased 5.1 percent to
$392,800,000 from $373,900,000.  First-half operating income included
a one-time $28 million gain reported in the first quarter of 1995,
which was related to the 1991 divestiture of Donnelley Marketing.
Growth in operating income was held down by the substantial increase
in investment spending on new revenue initiatives and the decline at
Moody's.
    The company reported first-half non-operating expense--net of
$40.1 million compared with non-operating expense--net of $20.2
million a year ago, primarily due to a lower cash position as a
result of the use of cash for acquisitions and past restructuring and
severance programs, higher interest rates paid on increased U.S.
short-term borrowings, and higher minority interest expense related
to both Gartner Group's increased income and to a previously
disclosed limited partnership.
    The Dun & Bradstreet Corporation is the world's largest marketer
of information, software and services for business decision making,
with worldwide revenue of $4.9 billion in 1994.
-0-

                      THE DUN & BRADSTREET CORPORATION
                CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
                   (In millions except per share amounts)

                                             Three Months Ended
                                                   June 30          Percent
                                            1995           1994     Change

Operating Revenue                         $1,307.4      $1,184.7     10.4

Operating Costs, Selling and
 Administrative Expenses                   1,087.4         970.6     12.0
Operating Income                             220.0         214.1      2.8

Interest Expense - Net                        (5.3)         (3.9)    35.9
Other Expense - Net                          (12.5)         (8.3)    50.6
Non-Operating Expense - Net                  (17.8)        (12.2)    45.9

Income Before Provision for Taxes            202.2         201.9      0.1

Provision for Income Taxes                    56.0          57.3     (2.3)

Net Income                                  $146.2        $144.6      1.1

Earnings Per Share of Common Stock           $0.86         $0.85      1.2

Dividends Paid Per Share of Common Stock     $0.66         $0.65      1.5

Average Number of Shares Outstanding         169.6         170.1     (0.3)

                    THE DUN & BRADSTREET CORPORATION
                CONSOLIDATED STATEMENT OF INCOME (UNAUDITED)
                   (In millions except per share amounts)

                                            Six Months Ended
                                                 June 30            Percent
                                          1995           1994       Change

Operating Revenue                       $2,527.0       $2,283.9     10.6

Operating Costs, Selling and
 Administrative Expenses                 2,134.2        1,910.0     11.7
Operating Income                           392.8          373.9      5.1

Interest (Expense) Income - Net            (11.8)           0.1       -
Other Expense - Net                        (28.3)         (20.3)    39.4
Non-Operating Expense - Net                (40.1)         (20.2)    98.5

Income Before Provision for Taxes          352.7          353.7     (0.3)

Provision for Income Taxes                  97.7          100.4     (2.7)

Net Income                                $255.0         $253.3      0.7

Earnings Per Share of Common Stock         $1.50          $1.49      0.7

Dividends Paid Per Share of Common Stock   $1.31          $1.26      4.0

Average Number of Shares Outstanding       169.6          170.1     (0.3)

CONTACT: The Dun & Bradstreet Corporation, Wilton, Conn.

Reid H. Gearhart, [phone]