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Business Description
The Washington Post Company's principal business activities consist of newspaper publishing (principally The Washington Post), television broadcasting (through the ownership and operation of six television broadcast stations), the ownership and operation of cable television systems, magazine publishing (principally Newsweek magazine), and (through its Kaplan subsidiary) the provision of educational services. During each of the last three years, the Company's operations in geographic areas outside the United States (consisting primarily of Kaplan's foreign operations and the publication of the international editions of Newsweek) accounted for less than 5% of its consolidated revenues, and the identifiable assets attributable to such operations represented approximately 6% of its consolidated assets, as of December 28, 2003 (fiscal year-end 2003), and less than 2% of its consolidated assets as of December 29, 2002 and December 30, 2001.

Financial Information
For the 39 weeks ended 9/26/04, revenues rose 17% to $2.4 billion. Net income applicable to Common rose 48% to $225.8 million. Revenues reflect an increase in newspaper publishing, cable subscriber and education revenues. Net income also reflects a decrease in equity losses of affiliates.