The New York Times Company Announces Additional Investment In NewsStand, Inc; Times...

Business Editors

NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--March 26, 2002

The New York Times Company and NewsStand, Inc. (www.newsstand.com), a publishing technology provider, today announced that the Times Company has increased its minority equity position in NewsStand,

"NewsStand has been a terrific partner for the Times Company and we are pleased to expand our relationship," said Janet L. Robinson, president and general manager, The New York Times Newspaper and senior vice president, newspaper operations, The New York Times Company. "NewsStand's technology and distribution service have created a new sales channel for The Times and its advertisers to reach wider audiences. The New York Times Electronic Edition, like our Web site, NYTimes.com, enhances our ability to deliver our quality content to readers in the medium that best meets their needs."

In February 2001 the Times Company acquired a minority equity position in NewsStand, Inc. At that time the two companies also entered into a five-year agreement during which NewsStand serves as a digital circulation service for The New York Times newspaper. As a result of the Times Company's additional investment, it received a seat on NewsStand's board of directors. The seat has been filled by Scott Heekin-Canedy, senior vice president, circulation, The New York Times.

"The Electronic Edition has made it possible for us to deliver the New York edition of The Times anywhere in the world," said Mr. Heekin-Canedy. "More than 2,800 customers have subscribed to it since we launched it last October, including 20 percent from the New York area. We expect to add more than $1 million in annual incremental subscription revenues from our Electronic Edition this year. I'm pleased to join its board of directors."

The Audit Bureau of Circulations (ABC) counts copies of The New York Times Electronic Edition as paid circulation. As a result of its national expansion and increased availability, The Times expects in April to report its seventh consecutive weekday increase for the semi-annual ABC report.

"We are pleased to have The New York Times Company increase its equity interest in NewsStand, Inc. and happily welcome Scott Heekin-Canedy to our board of directors," said Kit Webster, president and CEO, NewsStand, Inc. "This commitment by the Times Company reinforces our role in the future of publishing. By acting as a digital distributor for prestigious publications like The New York Times, we will expand our role in delivering newspapers and other print publications in a cost-effective manner, anywhere at anytime, with the added benefit of digital functionality."

Information on New York Times subscriptions and single-copy purchases may be obtained by visiting www.NYTimes.com/ee or www.newsstand.com.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the Company's various markets and material increases in newsprint prices. They also include other risks detailed from time to time in the Company's publicly-filed documents, including the Company's Annual Report on Form 10-K for the period ended December 30, 2001. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

About The New York Times Company

The New York Times Company (NYSE: NYT), a leading media company with 2001 revenues of $3.0 billion, publishes The New York Times, The Boston Globe and 16 other newspapers; owns eight network-affiliated television stations and two New York radio stations; and has more than 40 Web sites, including NYTimes.com and Boston.com. In 2002 the Company was ranked No. 1 in the publishing industry in Fortune's list of America's Most Admired Companies. Among all 530 companies on the list, the Company ranked No. 1 in quality of products/services and No. 1 in social responsibility. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

About NewsStand

NewsStand redefines Internet-based publishing both financially and ergonomically. With NewsStand, publishers and end-users alike realize benefits and reach that were previously unavailable with either print or Web-based products. NewsStand's service-based business model is embraced and sold by publishers, and demanded by end-users. Headquartered in Austin, Texas, USA, NewsStand is privately held. Investors include SSM Ventures, Noro-Mosely Partners, The New York Times Company and other private investors.