DOW JONES AND BELLSOUTH FORM STRATEGIC ALLIANCE FOR THE INFORMATION SERVICES MARKET

         DOW JONES AND BELLSOUTH FORM STRATEGIC ALLIANCE
              FOR THE INFORMATION SERVICES MARKET
    NEW YORK, April 30 /PRNewswire/ -- Dow Jones & Company, Inc. (NYSE: DJ) and BellSouth Corporation (NYSE: BLS) announced the formation of a strategic alliance through which they will jointly explore new business opportunities in the information services market.
    Under the arrangement, Dow Jones, a global publisher of business news and information services, and BellSouth, a provider of local telephone services, worldwide mobile communications and directory services, have agreed to form a joint business planning team to help identify and develop new opportunities for both companies and jointly begin test marketing new information services.
    Dow Jones and BellSouth will also focus on developing services and products that can be offered to and with other telephone companies, publishers and information providers.
    As part of the agreement, the companies already are testing an innovative voice-based information service, called Personal Info Clips(sm), for cellular subscribers who want customized, up-to-date news about business, economics, stocks, bonds, commodities, sports, weather and a variety of other issues.
    "With this alliance, we expect to develop new products and services to meet the needs of our customers, and we hope other telephone companies, publishers and information providers will see this as an opportunity to work with us to meet the needs of their customers as well," said Carl M. Valenti, president and publisher of Dow Jones Information Services.
    "By linking the power of the breadth of information Dow Jones produces with the latest communications technology from BellSouth, we hope to develop some important new information service opportunities," said William O. McCoy, president of BellSouth Enterprises, Inc.  "With this agreement, we've forged the beginning of what we intend to be a long-term business alliance between BellSouth and Dow Jones."
    Dow Jones and BellSouth launched a preliminary market test of Personal Info Clips in March through the company's Los Angeles Cellular affiliate.  Subscribers to the service customize their own information package from a choice of 130 categories supplied by Dow Jones' Voice Information Network(R) and have regularly updated reports deposited in their voice mailboxes.  BellSouth serves as a clearinghouse for the information by sorting and distributing the news to its mobile communications subscribers.
    Dow Jones publishes The Wall Street Journal, Barron's magazine and other periodicals, electronic business information services and the Ottaway group of community newspapers.
    BellSouth is an Atlanta-based international telecommunications holding company, which provides local telephone services in nine southeastern states, mobile telecommunications services worldwide, advertising and publishing services and markets and maintains stand- alone and fully integrated communications systems.
    -0-                 4/30/92
    /CONTACT:  Tim Klein, 404-249-4135, or Scott Ticer, 404-249-2824, both of BellSouth, or Roger May of Dow Jones, 212-416-2601/
    (DJ BLS) CO:  Dow Jones & Company, Inc.; BellSouth Corporation ST:  Georgia IN:  TLS SU:  JVN

BR-BN -- AT006 -- 4858 04/30/92 11:01 EDT