Ottaway Newspapers Announces New Production Facility

CAMPBELL HALL, N.Y. (April 22, 2004) – Dow Jones Local Media Group, the community newspaper subsidiary of Dow Jones & Company, announced plans to build a combined office and production facility, including a new press and mailroom, at its Seacoast Newspapers unit in Portsmouth, N.H.

The new facility and equipment will replace two buildings and a press that are used in the production of Seacoast’s Portsmouth Herald, a 14,000-circulation daily (22,000 Sunday), as well as weekly and other non-daily newspapers along the coast of New Hampshire and Southern Maine. Since entering this affluent, fast-growing market in 1978, Ottaway’s Seacoast unit has expanded through acquisitions and introduction of new publications, and today prints the equivalent in pages of a 37,400-circulation daily.

The new press will increase Seacoast’s total page capacity by 50 percent and color capacity by 100 percent, making possible single editions of 48 pages in four sections, including 32 color pages, and earlier delivery. Also expanded will be Seacoast’s ability to start up new publications and sell commercial-printing services. Accompanying the new press will be packaging equipment allowing the insertion of other publications and free-standing advertising materials into Seacoast’s daily and weekly newspapers. The new building housing this equipment also will serve as Seacoast’s editorial and business headquarters, consolidating operations now conducted in several locations.

The net cost of the new building and equipment to be purchased is approximately $17 million, with the expenditure approved by both Ottaway and its Dow Jones parent. Vendor and site selection are expected to begin immediately, with completion scheduled for 2006.

“Larger, faster presses with greatly enhanced color will benefit both our readers and our advertisers, offering later news and earlier delivery in some areas and many more opportunities for advertisers,” said John Tabor, Seacoast president and publisher. “We also can develop new newspapers and other periodicals to serve the Seacoast market as part of our efforts to be the primary source of local news and information in this region.”

In addition to Seacoast’s Portsmouth Herald and five area weeklies, the Ottaway group of community newspapers publishes 14 other daily newspapers, 13 other weeklies and numerous specialty publications and web sites in nine states. The parent company, Dow Jones & Company, publishes The Wall Street Journal and its international and online editions, Barron’s magazine, Dow Jones Newswires and Dow Jones Indexes. Dow Jones is also 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.

Media Contact:

Sean Polay

Product Manager, Distributed Media

sean.polay@dowjones.com

774.313.6093