WASHINGTON -- The Washington Post Company said today that its Board of Directors has authorized the company to acquire up to 1,000,000 shares of its Class B common stock, primarily through block purchases. The company did not announce a ceiling price or a time limit for the purchases. There are currently approximately 8.7 million Class B shares outstanding. The Board last authorized the company to repurchase Class B shares in January 1995. Of the 1,000,000 Class B shares authorized at that time for repurchase, the company has acquired to date approximately 800,000 shares. The Washington Post Company's Class B shares are traded on the New York Stock Exchange with the symbol WPO.

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Guyon Knight
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