Times Mirror Sells National Journal

THE DAILY FED

Times Mirror Sells National Journal

Terms of the agreement were not disclosed.

National Journal Inc., based in Washington, was founded in 1969 and acquired by Times Mirror in 1986. The company is a leading supplier of information about politics and government. Among its publications are two magazines, the weekly National Journal and the monthly Government Executive (and Govexec.com); The Hotline, a daily briefing on American politics; CongressDaily, a newsletter on Congress that appears each weekday morning and afternoon; and The Almanac of American Politics. A World Wide Web service, National Journal's CloakRoom, is scheduled to begin operations in July.

"We are pleased to have found a high quality buyer for National Journal Inc.," said Mark H. Willes, Times Mirror chairman, president and chief executive officer.

Said David G. Bradley, "Twenty years ago National Journal got me through Swarthmore College. It will be a privilege to repay some of that debt."

Sullivan, who has been with National Journal since 1975, said the sale would allow National Journal Inc. to strengthen its current businesses and develop new ones. "We are delighted to be teaming up with David Bradley," said Sullivan. "He has achieved spectacular results by emphasizing quality and by treating employees with respect, a business philosophy that we share. David and I are committed to dramatically expanding National Journal's position in the Washington marketplace."

The Advisory Board, located in Washington, D.C., is a membership organization of the world's largest corporations, health systems and financial institutions. Gathering data across and beyond membership, the Advisory Board publishes major studies and customized research briefs each year on progressive management practices.

Times Mirror (TMC--New York and Pacific stock exchanges), a Los Angeles-based news and information company, publishes the Los Angeles Times, Newsday, The Baltimore Sun, The Hartford Courant, and other newspapers; a wide array of professional information for the legal, health sciences, aviation and training markets, and consumer magazines.