Houghton Mifflin Co. News Release - 09/12/03

Houghton Mifflin Announces Departure of David Caron

BOSTON, Mass. - September 12, 2003 - Houghton Mifflin announced today that David Caron, senior vice president and chief financial officer, has decided to resign his position effective November 1. During the Company's search for a new chief financial officer, Sylvia Metayer, Chief Operating Officer and Interim CEO, will continue to oversee the Finance Department. "Dave has made strong contributions to the success of Houghton Mifflin over his career, and we thank him for his hard work and leadership during our organization's recent transition to an independent company," Metayer said. "Through the changes at the Company over the last two years, Dave worked many nights and weekends, dedicating his energy to making certain we continued to function while building a stronger financial organization. He will be sorely missed, and we wish him and his family well."

"With the Company in great shape and prospering, I want to devote more time to my family," said Caron. "I'll always have great admiration and respect for Houghton Mifflin and the people I have worked with."

Caron joined Houghton Mifflin in 1996 as assistant controller. He was promoted to divisional vice president, controller, in 1997 and elected a corporate vice president later that year. He was named chief financial officer in 2001 and senior vice president in 2002.

Most recently, Houghton Mifflin announced that Anthony Lucki will be joining the Company as CEO on October 1. Lucki was formerly president of Harcourt Inc., Reed Elsevier's U.S.-based K-12 publishing business. The Company's net sales for the quarter ended June 30, 2003, increased $52.0 million, or 17%, to $361.3 million from $309.3 million in the second quarter of 2002.

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 nonfiction for adults and young readers. 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 website can be found at www.hmco.com. In 2002, Thomas H. Lee Partners, Bain Capital, and Blackstone jointly acquired Houghton Mifflin from Vivendi. Thomas H. Lee Partners and Bain Capital are based in Boston.

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