THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Dow Jones & Company, Inc. (DJ)

3/17/2006 Proxy Information

Mr. Elefante is a partner in the Boston law firm Hemenway & Barnes, which acts as the primary trustee for the Bancroft family, the controlling shareholder of Dow Jones.

Mr. von Holtzbrinck is Chairman of the Supervisory Board and the former President and CEO of Verlagsgruppe Georg von Holtzbrinck GmbH (the “von Holtzbrinck Group”). Before mid-2005, the von Holtzbrinck Group, through subsidiaries, owned 10% of the equity of The Wall Street Journal Europe, Sprl (“WSJE”), and the Company, through its subsidiaries, owned 10% of the equity of a subsidiary of the von Holtzbrinck Group, Handelsblatt GmbH (HB). The cross shareholdings were reversed in mid-2005. In connection with the reversal of cross shareholdings, a von Holtzbrinck Group subsidiary paid Ř5,522,618.95 to a Company subsidiary in settlement of amounts due between the parties. Prior to the reversal of the cross shareholdings: (i) a von Holtzbrinck Group subsidiary had agreed to pay Ř1 million per year as a content license fee to the Company and to provide WSJE up to Ř1 million in free house ads annually; and (ii) WSJE had agreed to provide HB with up to Ř100,000 in free house ads annually. The Company and the von Holtzbrinck Group also have several other immaterial business relationships in Europe.

The Board has concluded that, in light of the reversal of the cross shareholdings and the financial immateriality of the existing relationships between the Company and the von Holtzbrinck Group, Mr. von Holtzbrinck is independent under the New York Stock Exchange rules.

3/18/2005 Proxy Information

Mr. von Holtzbrinck is Chairman of the Supervisory Board and the former President and CEO of Verlagsgruppe Georg von Holtzbrinck GmbH (the “von Holtzbrinck Group”). A subsidiary of the von Holtzbrinck group, Handelsblatt (“HB”), owns 10% of the equity of The Wall Street Journal Europe, Inc. (“WSJE”) and WSJE owns 10% of the equity of HB. Prior to the reorganization effected in 2003, WSJE owned 22% of the equity of HB and HB owned 12% of the equity of WSJE. HB has agreed to pay Ř1 million per year as a content license fee to WSJE through 2007 and will provide WSJE up to Ř1 million in house ads per year for free. WSJE in turn will provide HB with up to Ř100,000 in free house ads annually. The cross shareholdings can be reversed by either party at any time at fair market value, whereupon the licensing and house ad arrangements will terminate as well. HB and the Company have agreed to reverse the cross shareholdings between HB and WSJE in the first quarter of 2005.

Mr. Bancroft and Ms. Steele are first cousins. Ms. Hill is the first cousin, once removed, of Mr. Bancroft and Ms. Steele.

Mr. Ottaway is a retired Senior Vice President of Dow Jones & Company, Inc. (DJ). He was also Chairman and Chief Executive Officer of Ottaway Newspapers, Inc., DJ’s community newspapers subsidiary, until April 2003.

Mr. Kann is married to Ms. House, Senior Vice President of the Company and Publisher of The Wall Street Journal. Ms. House reports to Mr. Zannino, the Company’s Chief Operating Officer, and her compensation is set by the Compensation Committee of the Board of Directors.

3/19/2004 Proxy Information

James H. Ottaway is a retired Senior Vice President of Dow Jones & Company, Inc. He was also Chairman and Chief Executive Officer of Ottaway Newspapers, Inc., Dow Jones' community newspapers subsidiary, until April 2003.

Mr. Bancroft and Ms. Steele are first cousins. Ms. Hill is the first cousin, once removed, of Mr. Bancroft and Ms. Steele.

Mr. von Holtzbrinck is Chairman of the Supervisory Board of Verlagsgruppe Georg von Holtzbrinck GmbH (the “von Holtzbrinck Group”). In December 2003, the Company and the von Holtzbrinck Group exchanged equity shareholdings so as to increase the Company’s interest in The Wall Street Journal Europe to 90% from 51% and reduce the Company’s ownership of the von Holtzbrinck Group’s business daily, Handelsblatt, to 10% from 22%, with news and advertising relationships continuing.

Mr. von Holtzbrinck is also the Chief Executive Officer of Handelsblatt/The Wall Street Journal Holding GmbH and a member of the advisory council of Handelsblatt/Dow Jones GmbH both of which were formed in connection with the cross-shareholding alliance between Handelsblatt and The Wall Street Journal Europe.

The Company and the von Holtzbrinck Group also have several other immaterial business relationships.

The Company and the Board of Directors have concluded that these relationships are not material to the Company from a financial point of view. Notwithstanding the financial immateriality of these relationships, the Company considers Mr. von Holtzbrinck and his companies as important business associates of the Company in Europe. Accordingly, the Board of Directors has concluded that Mr. von Holtzbrinck has had, and continues to have, material relationships with the Company and its management and thus is not independent as that term is defined by the rules of the New York Stock Exchange.

3/14/2003 Proxy Information

The family is currently represented on the board of Dow Jones by Mrs. Jane Bancroft Cook's daughter Elizabeth Steele, Christopher Bancroft, her nephew, Leslie Hill, her grand-niece, and Roy Hammer, a Boston attorney and family trustee.

Christopher Bancroft and Elizabeth Steele are first cousins. Leslie Hill is the first cousin, once removed, of Mr. Bancroft and Ms. Steele.