Houghton Mifflin Co. News Release - 06/30/03

Houghton Mifflin Announces Management Changes

BOSTON, Mass. - June 30, 2003 - Houghton Mifflin announced today that Hans Gieskes has resigned as President and CEO of the Company. Houghton Mifflin's current Chief Operating Officer Sylvia Metayer will serve as interim CEO while the Company's Board of Directors concludes a search for Gieskes' replacement, the Company said.

Metayer joined Houghton Mifflin in 2001 as Executive Vice President and Chief Operating Officer.

"We thank Hans for his leadership during the Company's transition toward independence, and wish him success in his next endeavor," said Metayer. "I look forward to serving as Interim CEO and will continue working with our talented management team and Board of Directors to further our leadership position in the market."

"We appreciate Hans' efforts during the past year and thank him for his contributions," said Mark Nunnelly, managing director at Bain Capital. "The Board of Directors will continue to be an active partner with Sylvia and management as we move the business forward."

"We support Houghton Mifflin's investment in products for future revenue opportunities, and we stand firmly behind the Company's commitment to its customers and authors," said Scott Sperling, managing director of Thomas H. Lee Partners.

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