Dow Jones Vice Chairman Emeritus Donald Macdonald Dies at the Age Of 83; Retired Director 'Had an Abiding Faith in the Value of Advertising'.

Business Editors/City Desks

NEW YORK--(BUSINESS WIRE)--June 15, 2003

Donald A. Macdonald, vice chairman emeritus and a retired director of Dow Jones & Company, died Friday night at the age of 83.

Mr. Macdonald's career with Dow Jones spanned 34 years. He began working for the Company as an advertising sales representative in New York in 1953. He rose through a number of advertising management and executive positions and was elected a director of Dow Jones in 1977 and vice chairman of the company in 1979. Mr. Macdonald also served as president and publisher of the Company's international and magazine groups, overseeing publications ranging from The Asian Wall Street Journal and The Wall Street Journal Europe to Barron's.

"Don had a unique combination of vision and values," said Peter R. Kann, chairman and chief executive officer of Dow Jones & Company. "No one at Dow Jones ever was a more steadfast supporter of the core values of this Company - quality in all that we do, integrity in both news and business, and independence in the sense of charting our own course. He also had an abiding faith in the value of advertising, not just to the Company but also to its readers and to the public at large. He inspired several generations of Dow Jones sales people and left a legacy of passion, conviction and wisdom."

Mr. Macdonald was the primary architect of Dow Jones' international expansion in the 1970s and 1980s. He spearheaded the launch of The Asian Wall Street Journal in 1976 after having led the Company's acquisition of a shareholding in the Hong Kong-based Far Eastern Economic Review. In 1983 he led the Company's expansion into Europe with the creation of The Wall Street Journal Europe.

Equal to his legendary contribution to Dow Jones was Mr. Macdonald's work in the advertising world. In 1967 Mr. Macdonald, as the last Chairman of the Advertising Federation of America, made history by merging the AFA with the Advertising Association of the West to create the American Advertising Federation. He became the first Chairman of the AAF. He continued to work tirelessly on a national level to promote the causes of the advertising world, receiving numerous awards, including being the first recipient of the Barton A. Cummings Award and the Harris L. Wofford Award of Honor from Beta Gamma Sigma Alumni.

In December 1985, Mr. Macdonald was elected to the Advertising Hall of Fame, the most prestigious recognition that the advertising profession bestows. The award recognizes careers that contribute significantly to the advancement of the art and economic values of advertising and that benefit society through public service. Mr. Macdonald served as a director of a number of other advertising organizations including the American Advertising Museum. He also was a former member of the Council of Judges of the Advertising Hall of Fame.

Upon his retirement from Dow Jones, Mr. Macdonald authored a book called "Arrows in My Quiver" that recounted his experiences as an advertising salesman and his philosophy about advertising. In that book, Mr. Macdonald, a man of high energy and firm principles, wrote, "Always go to the top. You have no time to waste. Time is your ally. Wasted time is your enemy." He also wrote, "Make sure your job lets you have fun. A job without fun is dreary and one cannot like a dreary job or succeed at it."

In retirement, Mr. Macdonald continued to work actively with advertising organizations, including serving as president of the American Advertising Museum of Portland, Ore., and as a director of the Princeton Packet, a newspaper in Princeton, N.J.

Mr. Macdonald fought in World War II, entering the U.S. Army as a private. He was discharged in 1946 with the rank of captain, having served in combat in the Italian campaign. He received a B.A. degree from New York University in 1948 and a master's degree from New York University's graduate school of business administration in 1950.

Mr. Macdonald is survived by his wife, the former Ruth Moran of Rumson, N.J., five children and their spouses - Ronald and Jeanne Macdonald of New York and Monmouth Beach, N.J., Drs. Richard and Martha Re of New Orleans, Thomas and Kelley Marie Martell of San Francisco, Dr. Donald and Lore Macdonald of Rumson, N.J., and Charles and Catharine Macdonald of Princeton, N.J. - as well as 12 grandchildren.

Visitation will be at the John E. Day Funeral Home in Red Bank, N.J., on Tuesday from 6 p.m. to 9 p.m. A funeral mass will be held at 10 a.m. on Wednesday at the Holy Cross Church in Rumson. Internment will be at a later date at St. George's-by-the-River in Rumson.

Note to Editors:

Dow Jones & Company (NYSE:DJ; dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, with Hearst of SmartMoney and with NBC of CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.

Photo available.