Houghton Mifflin Co. - 05/30/03

Houghton Mifflin Company Announces Filing of Resistration Statement On Form S-4 For Bond Exchange Offer

BOSTON, Mass. - May 30, 2003 - Houghton Mifflin Company announced today that it has filed with the Securities and Exchange Commission a registration statement on Form S-4 registering its offer to exchange $1 billion of its outstanding notes for new notes that are registered under the Securities Act of 1933. In particular, the registration statement registers the Company's offer to exchange all of its outstanding $600 million of 8.250% Senior Notes due 2011 for $600 million of 8.250% Senior Notes due 2011 that have been registered under the Securities Act, and all of its outstanding $400 million of 9.875% Senior Subordinated Notes due 2013 for $400 million of 9.875% Senior Subordinated Notes due 2013 that have been registered under the Securities Act.

This press release is not an offer to sell securities, and it is not soliciting an offer to buy or exchange securities. The Company is not permitted to offer to exchange its outstanding notes until the registration statement filed with the Securities and Exchange Commission becomes effective.

About Houghton Mifflin Company
Boston-based Houghton Mifflin Company is one of the leading educational publishers in the United States, with over $1 billion in sales. Houghton Mifflin publishes textbooks, instructional technology, assessments and other educational materials for elementary and secondary schools and colleges. The Company also publishes an extensive line of reference works and award-winning fiction and non-fiction for adults and young readers. Additionally, Houghton Mifflin offers computer-administered testing programs and services for the professional and certification markets. With its origins dating back to 1832, Houghton Mifflin today combines its tradition of excellence with a commitment to innovation. The Company's web site can be found at www.hmco.com.

CONTACT:
Joseph P. Fargnoli
Vice President, Treasurer
Houghton Mifflin Company
617-351-3351
joseph_fargnoli@hmco.com

Collin Earnst
Vice President, Communications
Houghton Mifflin Company
617-351-5113
collin_earnst@hmco.com