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McGRAW-HILL BUYS BLACK LETTER LEGAL SOFTWARE CORPORATION, A DEVELOPER OF ELECTRONIC APPLICATIONS PRODUCTS FOR LAW

 NEW YORK, May 25 /PRNewswire/ -- McGraw-Hill, Inc. (NYSE: MHP) today announced that it has acquired the assets of Black Letter Legal Software Corporation for an undisclosed purchase price. Based in Wellesley Hills, Mass., Black Letter is the developer of Document Maestro, a DOS- based computer software authoring system, which permits the design of programs that automate and manage the completion of substantive legal documents. In addition to Document Maestro, McGraw-Hill has acquired all current Black Letter products published with that system. Black Letter will become part of the Shepard's/McGraw-Hill legal publishing unit.
 The Document Maestro software platform enables attorneys to generate specialized legal forms and to customize information databases, management reports and calculations. Using Document Maestro, Black Letter has created a series of nationally-known electronic products for the practice of real estate law.
 These include Blackacre Conveyancer, an advanced program for handling closing statements, title insurance and other documents for the conveyance of real property; Blackacre Foreclosure System, a program for managing cases involving foreclosure practices and Blackacre's RESPA, a product that automates and facilitates real estate closings in accordance with the Real Estate Settlement Procedures Act. RESPA recently received the approval of Computer Counsel, a leading technology magazine. RESPA is the first real estate closing product to be approved by the magazine. Black Letter's Conveyancer (of which RESPA is a part) was one of the first software programs to be approved by the Legal Technology Advisory Council of The American Bar Association.
 "Black Letter's Document Maestro provides the flexible software authoring platform into which we can build a range of products to suit the document generation needs of all domestic practitioners. And these electronic systems will contain more substantive, practice-oriented information than anything else currently available in the legal software market," observed Brian H. Hall, president of Shepard's. "This acquisition also supports the efforts of our newly formed topical publishing unit to better serve law firms and professionals specializing in real estate practice with state-of-the-art, value-added products."
 The services of Steven Kursh, the founder of Black Letter, will be retained under a consulting agreement. He will update and maintain currently existing products.
 Shepard's, based in Colorado Springs, is a 120-year-old publisher of legal research materials, including citations, treatises, litigation reporters and newsletters, as well as software and CD-ROM products. Shepard's currently offers a wide array of national and state productivity-enhancing software programs in such areas as: federal gift tax returns; fiduciary accounting for trusts and estates; determining damages and structuring settlements; domestic relations; and drafting wills and trust agreements.
 Shepard's is a wholly-owned subsidiary of McGraw-Hill, Inc. McGraw- Hill, headquartered in New York City, is one of the world's foremost publishing and information services companies, serving markets in business, the professions, education, industry and government. Sales for 1992 were $2.05 billion.
 -0- 5/25/93
 /CONTACT: Larry Thompson of Shepard's/McGraw-Hill, 719-481-7700; or Mark D. Harrop of McGraw-Hill, Inc., 212-512-2826/
 (MHP)


CO: McGraw-Hill, Inc.; Black Letter Legal Software Corporation ST: New York, Massachusetts IN: CPR SU: TNM

WB -- NY063 -- 2176 05/25/93 12:46 EDT
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Publication:PR Newswire
Date:May 25, 1993
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