Scott Schulman Appointed Senior Vice President, Sales And Marketing, The Wall Street Journal; Todd Larsen Appointed President, Consumer Electronic Publishing Division.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 28, 2003

Dow Jones & Company announced today that Scott D. Schulman, 40, has been appointed senior vice president, sales and marketing of The Wall Street Journal, effective immediately. Mr. Schulman was previously president of Dow Jones' Consumer Electronic Publishing division. Todd Larsen, 37, currently vice president and general manager of the Consumer Electronic Publishing division, will become president of the unit. Mr. Schulman replaces Paul C. Atkinson who is leaving the company to pursue other interests.

Commenting on these changes, Peter R. Kann, chairman and chief executive officer and Richard F. Zannino, executive vice president and chief operating officer of Dow Jones together said "Scott and Todd are ideally suited to their new roles. With these moves, we further strengthen the Company's leadership and business competitiveness, adding even more value to our readers, advertisers and shareholders. All of us at Dow Jones thank Paul for his contribution and wish him well in his future endeavors."

In his new role, Mr. Schulman will be responsible for The Wall Street Journal's global advertising, marketing and sales efforts. He will report to Karen Elliott House, senior vice president of Dow Jones and global publisher of The Wall Street Journal.

Mr. Larsen will report to L. Gordon Crovitz, senior vice president of Dow Jones and president of the Electronic Publishing group.

Ms. House said, "I am thrilled that Scott is joining the Journal's leadership team. He is a successful, broad-gauged executive with strong strategic and operating experience in many segments of the publishing industry. His energy, intellect, action orientation, leadership and passion for our business uniquely qualify him to lead our talented sales and marketing team. This will allow us to take greater advantage of The Wall Street Journal's unmatched editorial quality, reader demographics and advertising environment for the benefit of our customers."

Mr. Schulman said, "During nearly 20 years of work in the media and publishing business, I've had the opportunity to gain different perspectives on The Wall Street Journal and its positioning in the media landscape. Working closely with the Journal's highly talented sales and marketing team, I hope to provide even more value to our advertising clients by better capitalizing on the Journal's reputation as the most respected media property in the industry. It is, without question, the most powerful business-to-business vehicle, with the highest content credibility, the strongest brand and the most envied audience."

Mr. Schulman joined Dow Jones in 1999 as vice president of strategic planning and development. In February 2001, he was named president of Consumer Electronic Publishing. Prior to that, Mr. Schulman was a partner in the Communications, Media and Technology practice at Booz, Allen & Hamilton in New York. During his 10 years at Booz Allen, he served clients in newspapers, magazines, electronic and print business information, television, entertainment, education and direct marketing, with a focus on strategy, pricing, marketing, advertising and international growth. Mr. Schulman serves on the boards of directors of SmartMoney, a joint venture of Dow Jones and Hearst Corp, as well as the Alliance for Young Artists and Writers. He received a bachelor of science degree from Duke University and an M.B.A. from Harvard Business School.

Commenting on Mr. Larsen's appointment, Mr. Crovitz said, "Todd is an integral member of the senior team that developed and executed strategies to drive solid growth in paid subscribers, site usage, revenues and cash flow at our internet businesses. I am confident that under his leadership we will continue to capitalize on the profitable opportunities ahead."

Mr. Larsen said, "I look forward to working with the entire Consumer Electronic Publishing team as we tap the enormous potential of our internet businesses."

Mr. Larsen became vice president and general manager of the Consumer Electronic Publishing division in May 2001. Prior to joining Dow Jones in 1999 as corporate director of strategic planning and development, he was a senior associate in the Communications, Media and Technology practice at Booz, Allen & Hamilton in New York. He received a bachelor of arts degree from Colgate University and an M.B.A. from Columbia Business School.

Notes to Editors

Photos of Scott Schulman and Todd Larsen are available through the links below:

Scott Schulman: http://www.dowjones.com/press_room/pressAft/Schulman.jpg

Todd Larsen: http://www.dowjones.com/press_room/pressAft/ToddLarsen.jpg

Dow Jones & Company

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.

The Wall Street Journal

The Wall Street Journal is the leading global business newspaper. It was founded in 1889 and has a global paid circulation of nearly two million.

Consumer Electronic Publishing CEP 

The fast-growing Consumer Electronic Publishing business unit is part of Dow Jones' Electronic Publishing division. It is anchored by The Wall Street Journal Online - which with 679,000 subscribers is the largest paid subscription news site on the Web - and comprises a unique and award-winning family of subscription-based and free Web services that provides vital business news and information, opinion and commentary, career guidance and more. It also includes The Wall Street Journal Radio Network, which is heard on 200 stations across the U.S.