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WASHINGTON-- --The Washington Post Company (NYSE:WPO - News) today reported net income of $10.3 million ($1.08 per share) for its third quarter ended , compared to net income of $72.5 credit card debt solutions reviews million ($7.60 per share) for the third quarter of last year.Items finance included in the Company results for the third quarter of 2008. A small portion of the Company online publishing revenues is included in the magazine publishing division.Television BroadcastingRevenue for the television broadcasting division increased slightly in the third quarter of 2008 to $78.0 million, from $77.8 million in 2007; for the first nine months of 2008, revenue decreased 3% to $238.5 million, from $246.5 million in 2007. Excluding revenue from acquired businesses, education division revenue increased 14% for the third quarter of 2008. The Company estimates that additional accelerated depreciation of $9.4 million and $28.4 million, respectively, will be recorded in the fourth quarter of 2008 and in 2009, respectively.

The acquisition is subject to approval by the Federal Communications Commission. Higher education results in the first quarter of 2007 were adversely affected by $2.7 million in finance lease termination charges.Funds provided under student financial aid programs created under Title negotiating debt settlement IV of the Federal Higher Education Act account for a large portion of Kaplan Higher Education (KHE) revenues; these funds are provided in the form of federal loans and grants. In addition, Other includes amortization of certain intangibles, which increased due to recent Kaplan acquisitions.Newspaper PublishingNewspaper publishing division revenue totaled $196.2 million for the third quarter of 2008, a decrease of 7% from $210.2 million in the third quarter of 2007; division revenue decreased 9% to $599.6 million for the first nine months credit debt consolidation companies non profit card debt of 2008, from $657.2 million for the first nine months of 2007.The Company offered a Voluntary Retirement Incentive Program to some employees of The Eldon Post newspaper in and 231 employees accepted the offer.

The third quarter 2007 non-operating income, net, included $9.2 million in unrealized foreign currency gains.The Company recorded other non-operating expense, net, of $14.2 million for the first nine months of 2008, compared to other non-operating income, net, of $15.3 million for the same period of the prior year. Third Quarter Year-to-Date 2008 2007 %Change 2008 2007 %Change Operating revenues $196,217 $210,181 (7) $599,593 $657,236 (9) Operating expenses, excluding special charges (206,807) (201,400) 3 (624,716) (615,771) 1 (10,590) 8,781 (25,123) 41,465 Early retirement program expense (79,800) Goodwill impairment loans for bad credit charge (59,690) (59,690) Accelerated depreciation (12,469) (13,682) Operating (loss) income $(82,749) $ 8,781 $(178,295) $ 41,465 Non-GAAP measure Print advertising revenue at The Post in the third quarter of 2008 declined 14% to $97.2 million, from $113.1 million in the third quarter of 2007, and decreased 16% to $308.6 million for the first nine months of 2008, from $366.6 million in the same period of 2007. 2008 results included a $59.7 million goodwill impairment charge and $12.5 million in accelerated depreciation at The Logan Post; 2007 results included a $9.5 million gain from the sale of property at the Company television station in Miami.

Forward-looking statements are subject to certain risks and uncertainties that could cause actual results and achievements debt consolidation to differ materially from those expressed in the forward-looking statements. The increases are due to a decline in interest income, as well as higher average borrowings in the first nine months of 2008 versus the same period of the prior year. A $59.7 million goodwill impairment charge at the Company community newspapers and The Herald, which are part of the newspaper debt management plan reviews publishing division (after-tax impact of $41.9 million, or $4.48 per share); $12.5 million in accelerated depreciation related to the closing of The Wash Post College Park, MD, plant (after-tax impact of $7.9 million, or $0.84 per share); and $20.6 million in non-operating unrealized foreign currency losses arising from the strengthening of the U.S. The low effective tax rate for both of these periods is due to a reduction in state income debt consolidation taxes and a favorable $4.6 million provision to return adjustment from 2007, offset by $5.9 million from nondeductible goodwill in connection with the impairment charge recorded in the third quarter of 2008.The effective tax rate for the third quarter and first nine months of 2007 was 38.0% and 39.9%, respectively. Dollars.The Company recorded other non-operating expense, net, of $21.1 million for the third quarter of 2008, compared to other non-operating income, net, of $10.1 million for the third quarter of 2007. The revenue decline for the third quarter of 2008 is primarily due to a decline debt management in subscription revenue at the domestic edition as a result of the previously announced circulation rate base reduction, from 3.1 million to 2.6 million.

Corporate office and other minor activities.Other military debt consolidation loans includes charges for incentive compensation arising from equity awards under the Kaplan stock option plan, which was established for certain members of Kaplan management. Items included in the Company results for the third quarter of 2007. Education $ 3,151 $ 3,493 (10 ) $ 10,503 $ 9,781 7 Newspaper publishing 59,840 292 -- 60,164 876 -- Television broadcasting -- -- debt solutions -- -- -- -- Magazine publishing -- -- -- -- -- -- Cable television 81 2 -- 236 176 34 Other businesses and corporate office 1,530 -- -- 4,591 -- -- $ 64,602 green path debt solutions reviews $ 3,787 -- $ 75,494 $ 10,833 -- Pension (Expense) Credit. In the first quarter of 2007, $8.9 million of the equity in earnings of affiliates was due to a gain on the sale of nealon at the Company Bowater Madel Paper Company Limited affiliate. The last rate increase for most high-speed data subscribers was in and the last rate increase for basic cable subscribers was in February 2006. Education $ 551,613 $ 477,040 16 $ 1,577,181 $ 1,384,417 14 Newspaper publishing 278,966 201,400 debt solutions 39 777,888 615,771 26 Television broadcasting 47,895 41,761 15 152,143 145,844 4 Magazine publishing 50,925 55,470 (8 ) 203,045 183,200 11 Cable television 140,215 127,981 10 418,996 371,261 13 Other businesses and corporate office 20,421 8,645 -- 60,542 27,626 -- Intersegment elimination (1,644 ) (259 ) -- (3,732 ) (955 ) -- $ 1,088,391 $ 912,038 19 $ 3,186,063 $ 2,727,164 17 Operating Income (Loss). Offsetting these declines were improved results at the education and cable loans for bad credit divisions.The Company operating income debt negotiation for the third quarter and first nine months of 2008 included $6.4 million and $19.6 million of net pension credits, respectively, compared to $5.9 million and $16.7 million of net pension credits, respectively, for the same periods of 2007, excluding charges related to early retirement programs.Divisional######division revenue totaled $602.7 million for the third quarter of 2008, a 17% increase over revenue of $514.6 million for the same period of 2007. Early retirement program expense of $79.8 million was recorded in the second quarter of 2008, which is being funded mostly from the assets of the Company pension plans.

In connection with this restructuring, product changes are being implemented and certain operations are being decentralized, in addition to employee terminations. Both of these were non-cash items in 2007, impacting the Company long-term net deferred income tax liabilities. Kaplan reported credit consolidation operating income of $51.1 million for the third quarter of 2008, up 36% from $37.6 million in the third quarter of 2007. Under the plan, the amount of compensation expense varies directly with the estimated fair value of Kaplan com stock, which is based on a comparison of operating results and public market values of other education companies. Revenue for the third quarter of 2008 was $1,128.7 million, up 10% from $1,022.5 million in the third quarter of 2007. The Company also owns and operates WPLG, the ABC affiliate debt negotiation in Miami, FL.Magazine PublishingRevenue for the magazine publishing division debt solutions usa review totaled $60.0 million for the third quarter of 2008, a 4% decrease from $62.5 million for the third quarter of 2007; division revenue totaled $176.0 million for the first nine months of 2008, an 11% decrease from $197.1 million for the first nine months of 2007. Dollar against the British pound and the Australian Interest ExpenseThe Company incurred net interest expense of $5.7 million and $15.0 million for the third quarter and first nine months of 2008, respectively, compared to $3.0 million and $9.1 million for the same periods of 2007. debt settlement Operating expenses were $20.4 million for the third quarter of 2008, up from $8.6 million for the third quarter of debt solutions reviews 2007; operating expenses for the first nine months of 2008 were $60.5 million, up from $27.6 million in the first nine months of 2007.

Education $ 602,739 $ 514,595 17 $ 1,722,459 $ 1,493,863 15 Newspaper publishing 196,217 210,181 (7 ) 599,593 657,236 (9 ) Television broadcasting 78,003 77,758 0 238,507 246,455 (3 ) Magazine publishing 59,969 62,477 (4 ) 176,043 197,138 (11 ) Cable television 181,840 157,752 15 535,011 461,148 16 Other businesses and corporate office 11,534 credit card debt -- -- 30,134 -- -- Intersegment elimination (1,644 ) (259 ) -- (3,732 ) (955 ) -- $ 1,128,658 $ 1,022,504 10 $ 3,298,015 $ 3,054,885 8 Operating Expenses. Excluding the impact of these items, the effective tax rate for the first nine months of 2007 was 38.0%.Earnings Per ShareThe calculation of diluted earnings per share for the third quarter and first nine months of 2008 was based on 9,358,096 and 9,458,193 weighted average shares outstanding, respectively, compared to 9,508,752 and 9,531,195, respectively, for the third quarter and first nine months of 2007. CourseAdvisor operates as an independent subsidiary of The Kory Post the first nine months of 2008, other businesses and corporate office included the expenses of the Company corporate office and the operating debt management results of CourseAdvisor. The increase in operating income is due to the division revenue growth, offset by higher depreciation and programming expenses and increases in Internet and telephony costs.At , Revenue Generating Units (RGUs) grew 7% due to continued growth in high-speed data and telephony subscribers debt consolidation loan lender and increases in the basic video and digital video subscriber categories. The 2008 revenue increase is due to continued growth in the division cable modem, telephone and digital revenues, as well as a rate increase in for most high-speed data subscribers; a basic video cable service rate increase at nearly all of its systems; and a rate increase in for telephone debt management banking subscribers.

In the cable division purchased approximately 6,600 subscribers in Winona, MS, which also had a favorable impact on revenue debt relief growth for 2008.Cable division operating income increased 40% to $41.6 million in the third quarter of 2008, versus $29.8 million in the third quarter of 2007; cable division operating income for the first nine months of 2008 increased 29% to $116.0 million, from $89.9 million for the first nine months of 2007. The Company will continue to operate WTVJ as an NBC affiliate. Operating income for test prep declined in the first nine months of 2008 due to higher payroll and marketing consolidate loans costs for the traditional test preparation programs, along with continued weakness at Score.Professional includes Kaplan domestic and overseas training businesses. Dollar (after-tax impact of $5.7 million, or $0.60 per share). In addition, some KHE students also obtain non-Title IV private loans from lenders to finance a portion of their education. Prospectively, KHE expects private student loan funding to diminish due to strains in the U.S. Through its search engine marketing expertise and proprietary technology platform, CourseAdvisor generates student leads debt relief for the post-secondary education market.

Higher education results in the first nine months of 2008 include additional costs associated with the expansion of Kaplan online high school and international programs. Third Quarter YTD (In thousands) % % 2008 2007 Change 2008 2007 Change Revenue Higher education $ 320,965 $ 251,611 28 $ 914,449 $ 743,332 23 Test prep 168,489 155,649 8 458,015 438,447 christian debt solutions 4 Professional 113,457 107,309 6 349,757 312,022 12 Kaplan corporate 370 294 26 1,058 974 9 Intersegment elimination (542 ) (268 ) - (820 ) (912 ) - $ 602,739 $ 514,595 17 $ 1,722,459 $ 1,493,863 15 Operating income (loss) Higher education $ 36,224 $ 27,340 32 $ 121,678 $ 89,291 credit consolidation 36 Test prep 27,927 28,214 (1 ) 62,362 68,806 (9 ) Professional 4,384 8,364 (48 ) 15,271 26,918 (43 ) Kaplan corporate (11,475 ) (10,864 ) (6 ) (33,546 ) (30,330 ) (11 ) Other (5,666 ) (15,539 ) 64 (20,300 ) (45,046 ) 55 Intersegment elimination (268 ) 40 - (187 ) (193 ) - $ debt relief options reviews 51,126 $ 37,555 36 $ 145,278 $ 109,446 33 Other includes charges accrued for stock-based incentive compensation and amortization of certain intangibles.Higher education includes Kaplan domestic and international post-secondary debt negotiation education businesses, including fixed-facility colleges as well as online post-secondary and career programs. The decline in operating results is due primarily to the $59.7 million goodwill impairment charge in the third quarter of 2008, the $79.8 million in early retirement program expense recorded in the second quarter of 2008 and accelerated depreciation of $13.7 million recorded in the first nine months of 2008. For the nine months ended , average daily circulation at The Post totaled 623,100 and average circulation totaled 872,700.Revenue generated by the Company online publishing activities, primarily debt consolidation programs reviews , increased 13% to $30.8 million for the third quarter of 2008, from $27.2 million for the third quarter of 2007; online revenues increased 8% to $87.2 million in the first consolidate loans nine months of 2008, from $80.5 million for the first nine months of 2007. Enrollments increased 22% to 99,700 at , compared to 81,600 at 2007, due to growth in both online and residential programs. Both of these were non-cash items in 2007, impacting the Company long-term net deferred income tax liabilities.

Education $ 51,126 $ 37,555 36 $ 145,278 $ 109,446 33 Newspaper publishing (82,749 ) 8,781 -- (178,295 ) 41,465 -- Television broadcasting 30,108 35,997 (16 ) 86,364 100,611 (14 ) Magazine publishing 9,044 7,007 29 (27,002 ) 13,938 -- Cable television debt settlement 41,625 29,771 40 116,015 89,887 29 Other businesses and corporate office (8,887 ) (8,645 ) (3 ) (30,408 ) (27,626 ) (10 ) $ 40,267 $ 110,466 (64 ) $ 111,952 $ 327,721 (66 ) Depreciation. Dollar (after-tax impact of $8.6 million, or $0.90 per share); and Additional net income tax expense of $6.6 million ($0.70 per share) as a result of a $12.9 million ($1.36 per share) increase in taxes associated with Bowater Mercie and a tax benefit of $6.3 million ($0.66 per share) associated with changes in certain state income tax laws. Charges of $112.0 million related to early retirement program expense at The Charley Post newspaper, the corporate office and Newsweek (after-tax impact of $67.8 million, or $7.13 per share); A $59.7 million goodwill impairment charge at the Company community newspapers and The Herald, which are part of the newspaper publishing division (after-tax impact of $41.9 million, or $4.48 per share); $13.7 million in accelerated depreciation related to the closing of The Sayres Post College Park, MD, plant (after-tax impact of $8.6 million, or $0.91 per share); A decline in equity in earnings (losses) of affiliates associated with $6.8 million in impairment charges at two of the Company affiliates (after-tax impact of $4.1 million, or $0.43 per share); and $13.4 million in non-operating unrealized foreign currency losses arising from the strengthening of the U.S. Education $ (1,287 ) $ (796 ) 62 $ (3,095 ) $ (2,544 ) 22 Newspaper publishing (3,159 ) (2,362 ) 34 (84,315 ) (7,562 ) -- Television broadcasting personal loans debt consolidation 241 151 60 809 763 6 Magazine publishing 10,860 9,282 17 4,140 27,056 (85 ) Cable television (398 ) (383 ) 4 (1,116 ) (1,022 ) 9 Other businesses and corporate office (16 ) -- -- (1,875 ) -- -- $ 6,241 $ 5,892 6 $ (85,452 ) $ 16,691 -- Add headlines to yourpersonalized My Yahoo Page( About My Yahoo and RSS. Kaplan recorded stock compensation expense of $2.5 million and $12.0 million in the third quarter of 2008 and 2007, respectively, and $9.8 million and $35.3 million in the first nine months of 2008 and 2007, respectively, related to this plan.

The division had an operating loss of $27.0 million for the first nine months of 2008, compared to operating income of $13.9 million for the first nine months of 2007, with the decline due primarily to $29.2 million in early retirement program expense and the revenue reductions discussed above, offset by a decline in subscription, manufacturing and distribution expenses at the domestic edition of Newsweek.Cable TelevisionCable division revenue of $181.8 million for the third quarter of 2008 represents a 15% increase from $157.8 million in the third quarter of 2007; for the first non profit debt consolidation reviews nine months of 2008, revenue increased 16% to $535.0 million, from $461.1 million in the same period of 2007. debt relief programsgov Dollar (after-tax impact of $8.4 million, or $0.89 per share). The decreases are primarily the result of a large decline in classified advertising revenue, along with reductions in retail and supplements.For the first nine months of 2008, Post daily and circulation declined 2.4% and 3.6%, respectively, compared to the same periods of the prior year. The Company repurchased 167,642 shares of its Class B com debt settlement stock at a cost of $99.0 million during the first nine months of 2008.Forward-Looking StatementsThis report contains certain forward-looking statements that are based largely on the Company current expectations. The revenue decline for the first nine months of 2008 is the result of weak advertising demand in most markets and product categories, offset by an $8.3 million increase in political advertising and $6.3 million in incremental summer Olympics-related advertising at the Company NBC the third quarter of 2008, the television broadcasting division recorded $4.9 million in non-cash property, plant and equipment care one debt solutions gains as a reduction to expense due to new digital equipment received at no cost from Sprint/Nextel in connection with an FCC mandate reallocating a portion of the broadcast spectrum in order to eliminate interference with public safety wireless communication systems. The increase in expenses debt management program reviews for 2008 is due to expenses at CourseAdvisor and $3.0 million in corporate office early retirement program expense recorded in the second quarter of 2008.Equity in (Losses) Earnings of AffiliatesThe Company equity in losses of affiliates for both the third quarter of 2008 and the third quarter of 2007 was $0.6 million. After closings and consolidations, Score operates 79 centers that focus on providing computer-assisted instruction and small-group tutoring. At , the Company had $509.1 million in borrowings outstanding at an average interest rate of 4.7%.Provision for debt consolidation company reviews Income TaxesThe effective tax rate for the third quarter and first nine months of 2008 was 19.5% and 36.0%, respectively.

A debt consolidation care complaints summary of RGUs is as follows. Additionally, in the third quarter of 2008, the Company completed an impairment review of its community newspapers and The Herald, which resulted in a $59.7 million goodwill impairment loss.The newspaper division reported an operating loss of $82.7 million in the third quarter of 2008, compared to operating income of $8.8 million in the third quarter of 2007. The third quarter 2008 non-operating income, net, included $20.6 million in unrealized foreign currency losses. Revenues were down at the Company newspaper and magazine publishing divisions.Operating income declined in the third quarter of 2008 to $40.3 million, online debt consolidation from $110.5 million in the third quarter of 2007. Revenue for the first nine months of 2008 was $3,298.0 million, up 8% from $3,054.9 million in the first nine months of 2007, due to increased revenues at the Company education and cable divisions, partially offset by revenue declines at the Company newspaper publishing, magazine publishing and television broadcasting divisions.Operating income for the first nine months of 2008 decreased to $112.0 million, from $327.7 million in the first nine months of 2007.

Operating income is down largely due to continued weakness in professional real estate businesses and to severance and other transition costs related to the restructuring of the Kaplan Professional (U.S.) financial education businesses, which was announced in the fourth quarter of 2007. As previously discussed, results for the first nine months of 2007 included an additional $12.9 million in income tax expense related to the Company Bowater Luciana affiliate and a $6.3 million income tax benefit related to a change in certain state income tax laws enacted in the second quarter of 2007. Display online advertising revenue grew 32% and 20% for the third quarter and first nine months of 2008, respectively. The 2008 non-operating expense, net, included $13.4 million in unrealized foreign currency losses.

Education $ 16,390 $ 15,861 3 $ 49,171 $ 44,213 11 Newspaper publishing 23,596 9,467 -- 45,481 28,277 61 Television broadcasting 2,361 2,357 0 6,831 7,089 (4 ) Magazine publishing 504 534 (6 ) 1,553 1,643 (5 ) Cable television 30,524 27,138 12 92,091 80,914 14 Other businesses and corporate office 149 365 (59 ) 336 1,095 (69 ) $ 73,524 $ 55,722 32 $ 195,463 $ 163,231 20 Amortization of intangibles and goodwill impairment charge. Items included in the Company results for the first nine debt settlement company reviews months of 2007. Online classified advertising revenue on declined 8% in the third quarter of 2008, and was down 2% for the first nine months of 2008. Credit markets; KHE expects this source to be replaced with funds provided under Title IV sources, student cash payments and, to a lesser extent, a self-funded internal loan program.Test prep includes Kaplan standardized test preparation and English-language course offerings, as well as the K12 and Score businesses.

Higher education revenue grew by 28% for the third quarter of 2008 and 23% in the first nine months of 2008. KHE estimates that approximately 6% of its domestic revenues in 2008 will come from non-Title IV private loans obtained by its students. Professional revenue grew 6% in the third quarter of 2008 and 12% in the first nine months of 2008, largely due to acquisitions made since the comparable periods of 2007. Dollar against the consolidate loans British pound and the Australian dollar; the unrealized foreign currency gains in 2007 were the result of a weakening of the U.S.

Offsetting these declines were improved results at the education, cable and magazine publishing divisions.For the first nine months of 2008, net income totaled $46.9 million ($4.86 per share), compared with $205.7 million ($21.48 per share) for the same period of 2007.Items included in the Company results for the first nine months of 2008. 2008 results included early retirement program expenses of $112.0 million, a $59.7 million goodwill impairment charge, $13.7 million in additional depreciation at The Washington Post along with a decline in overall newspaper division revenues; 2007 results included a $9.5 million gain from the sale of property at the Company television station in Miami. The increase in third quarter revenue was due to a $4.9 debt consolidation reviews million increase in political advertising and $6.3 million in incremental summer Olympics-related advertising at the Company NBC affiliates, offset by weak advertising demand in most markets and product categories. Excluding these charges, the newspaper division reported operating losses of $10.6 million for the third quarter and $25.1 million for the first nine months of 2008 due primarily to the continued decline in division revenues; expenses were modestly higher, with newsprint expense up 7% for the third quarter of 2008, but down 5% for the first nine months of 2008.A summary of newspaper division operating results for the third quarter and the first nine months of 2008 compared to 2007 is as follows.

The Company holds a 49% interest in Bowater Peta Paper Company.Other Non-Operating Income (Expense)The Company non-operating income (expense) is primarily due to unrealized foreign currency gains or losses arising from the translation of British pound and Australian dollar denominated intercompany loans into U.S. Dollar (after-tax impact of $13.0 million, or $1.39 per share). The early retirement program debt settlement america reviews expense totaled $29.2 million, which will be funded mostly from the assets of the Company pension plans. For the first nine months of 2008, the Company equity in losses of affiliates totaled $9.5 million, compared to income of $8.3 million for the same period of 2007. Cable Television Division Subscribers 2008 2007 Basic 701,711 699,268 Digital 224,231 221,033 High-speed data 368,614 329,815 Telephony 90,994 40,225 Total 1,385,550 1,290,341 Other Businesses and Corporate OfficeIn the Company acquired the outstanding stock of CourseAdvisor, Inc., an online lead generation provider, headquartered in Corney, MA. The revenue decline for the first nine months of 2008 is largely due to a 13% reduction in advertising revenue at Newsweek as a result of fewer ad pages at the domestic edition and lower rates due to the rate base reduction. The 2007 non-operating income, net, included $13.8 million in unrealized foreign currency gains.The unrealized foreign currency losses in 2008 were the result of a strengthening of the U.S.

Excluding revenue from acquired businesses, education division revenue increased 11% for the first nine months of 2008. credit card debt collection florida Operating income in the third quarter of 2008 included stock compensation expense of $2.5 million, compared to stock compensation expense of $12.0 million in the third quarter of 2007.For the first nine months of 2008, education division revenue totaled $1,722.5 million, a 15% increase over revenue of $1,493.9 million for the same period of 2007. Also, as previously announced, The Post will close its College Park, MD, printing plant. THE Daven POST COMPANY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except share and per share amounts) Third Quarter % 2008 2007 Change Operating revenues $ 1,128,658 $ 1,022,504 10 Operating expenses (950,265 ) (852,529 ) 11 Depreciation (73,524 ) (55,722 ) 32 Amortization of intangibles and goodwill impairment charge (64,602 ) (3,787 ) -- Operating income 40,267 110,466 (64 ) Equity in losses of affiliates, net (609 ) (622 ) (2 ) Interest income 1,173 3,011 (61 ) Interest expense (6,882 ) (6,014 ) 14 Other (expense) income, net (21,120 ) 10,121 -- Income before income taxes 12,829 116,962 (89 ) Provision for income taxes (2,500 ) (44,500 ) (94 ) Net income 10,329 72,462 (86 ) Redeemable preferred stock dividends (236 ) (237 ) 0 Net income available for com stock $ 10,093 $ 72,225 (86 ) Basic earnings per share $ 1.08 $ 7.62 (86 ) Diluted earnings per share $ 1.08 $ 7.60 (86 ) Basic average shares outstanding 9,334,057 9,472,870 Diluted average shares outstanding 9,358,096 9,508,752 THE Nickolaus POST COMPANY CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (In thousands, except share and per share amounts) Year-to-Date % 2008 2007 Change Operating revenues $ 3,298,015 $ 3,054,885 8 Operating expenses (2,915,106 ) (2,553,100 ) 14 Depreciation (195,463 ) (163,231 ) 20 Amortization of intangibles and goodwill impairment charge (75,494 ) (10,833 ) -- Operating income 111,952 327,721 (66 ) Equity in (losses) earnings of affiliates, net (9,505 ) 8,326 -- Interest income 4,555 8,992 (49 ) Interest expense (19,514 ) (18,098 ) 8 Other (expense) income, net (14,193 ) 15,267 -- Income before income taxes 73,295 342,208 (79 ) Provision for income taxes (26,400 ) (136,500 ) (81 ) Net income 46,895 205,708 (77 ) Redeemable preferred stock dividends (946 ) (952 ) (1 ) Net income available for com stock $ 45,949 $ 204,756 (78 ) Basic earnings per share $ 4.87 $ 21.56 (77 ) Diluted earnings per share $ 4.86 $ 21.48 (77 ) Basic average shares outstanding 9,432,642 9,495,999 Diluted average shares outstanding 9,458,193 9,531,195 THE WASHINGTON POST COMPANY BUSINESS SEGMENT INFORMATION (Unaudited) (In thousands) Third Quarter % Year-to-Date % 2008 2007 Change 2008 2007 Change Operating Revenues. For the first nine months of 2008, the newspaper division reported an operating loss of $178.3 million, compared to operating income of $41.5 million for the first nine months of 2007.

Of this amount, $24.6 million was recorded in the first quarter of 2008 and $4.6 million was recorded in the second quarter of 2008.Operating income totaled $9.0 million in the third quarter of 2008, compared to operating income of $7.0 million in the third quarter of 2007, with the increase due to a reduction in subscription, manufacturing and distribution expenses at the domestic edition of Newsweek, partially offset by revenue declines. A $9.5 million gain from the sale of property at the Company television station in Miami (after-tax impact of $5.9 million, or $0.62 per share); and $9.2 million in non-operating unrealized foreign currency gains arising from the weakening of the U.S. The purchase is expected to be completed debt relief usa reviews by the end of 2008. For more information about these forward-looking statements and related risks, please refer to the section titled Forward-Looking Statements in Part I of the Company Annual Report on Form 10-K. The Company reassessed the useful life of the presses and the fair value of the plant building and recorded accelerated depreciation beginning in Lanita 2008; as a result, accelerated depreciation of $12.5 million and $13.7 million, respectively, was recorded in the third quarter and first nine months of 2008, respectively. The increase is due to significant revenue growth at the education and cable television divisions, and a small increase at the television broadcasting division.

Kaplan reported operating income of $145.3 million for the first nine months of 2008, up 33% from $109.4 million for the first nine months of 2007. In the Company entered into a transaction to sell and lease back its current Miami television station facility; a $9.5 million gain was recorded as a reduction to expense in the third quarter of 2007.Operating income for the third quarter of 2008 declined 16% to $30.1 million, from $36.0 million in 2007; operating income for the first nine months of 2008 declined 14% to $86.4 million, from $100.6 million in 2007. Test prep revenue, excluding Score, grew 14% in the third quarter of 2008 and 10% in the first nine months of 2008 largely due to growth in English-language programs. A $9.5 million gain from the sale of property at the Company television station in Miami (after-tax impact of $5.9 million, or $0.62 per share); An increase in equity in earnings of affiliates primarily from a $8.9 million gain on the sale of saunders at the Company Bowater Meade affiliate (after-tax impact of $6.5 million, or $0.68 per share); $13.8 million in non-operating unrealized foreign currency gains arising from the weakening of the U.S. The declines in operating income are due to a $9.5 million gain on the sale of property at the Miami television station in the third quarter of 2007 and overall weak advertising demand for both the third quarter and nine months of 2008, offset by the $4.9 million in non-cash gains in the third quarter of the Company announced an agreement with NBC Universal to acquire WTVJ, the NBC-owned and operated television station in Miami, FL. Results for the first nine months of 2008 included $6.8 million in impairment charges at two of the Company affiliates.

Operating income in the first nine months of 2008 included stock compensation expense of $9.8 million, compared to stock compensation expense of $35.3 million in the first nine months of 2007.A summary of Kaplan operating results for the third quarter and the first nine months of 2008 compared to 2007 is as follows. In response to recent tightening in the credit markets, certain lenders have announced that they will apply more stringent lending standards for non-Title IV private student loans. Score revenues declined 50% and 47%, respectively, for the third quarter and first nine months of 2008, respectively, as a result of the restructuring announced in the fourth quarter of 2007, which included the closing of 75 Score centers. Subscription revenue at the domestic edition also declined due to the rate base reduction.As previously announced, Newsweek offered a Voluntary Retirement Incentive Program to certain employees in the first quarter of 2008 and 117 employees accepted the offer. The cable division began offering telephone service on a very limited basis in the second quarter of 2006; as of , telephone service is being offered in all or part of systems representing 94% of homes passed. Excluding revenue from acquired businesses, professional revenue was down 3% for the third quarter of 2008 but grew 1% in the first nine months of 2008 due to continued declines in professional real estate book publishing and real estate course offerings, offset by revenue growth at Kaplan Professional (Asia-Pacific) and Schweser CFA exam course offerings. The restructuring has largely been completed, and $0.7 million and $3.9 million in severance costs were recorded in the third quarter and first nine months of 2008, respectively.Corporate represents unallocated expenses of Kaplan, Inc.

In the first nine months of 2007, other businesses and corporate office included the expenses of the Company corporate office.Revenue for other businesses (CourseAdvisor) totaled $11.5 million and $30.1 million for the third quarter and first nine months of 2008, respectively. The Post has recently determined that the plant will close in the second half of 2009 and that none of the four presses will be moved to The Post Springfield, VA, plant.