First Commonwealth Announces New Chairman of the Board

Mr. Dahlmann replaces
Joseph E. New
products, services and sales initiatives have strengthened our
position in our traditional K-12 businesses and we are optimistic
about our opportunities in new subject areas such as science and
elementary social studies in the coming adoption growth cycle," Lucki
added.8% to $85.8% to $27. Investors should not rely on
forward-looking statements because they are subject to a variety of
risks, uncertainties, and other factors that could cause actual
results to differ materially from the Company's expectations , and the
Company expressly does not undertake any duty to update
forward-looking statements, which speak only as of the date of this
report. EBITDA or
operating cash flow are not intended to represent cash flow
from operations as defined by Generally Accepted Accounting
Principles (GAAP) nor should it be considered an indicator of
operating performance or as an alternative to cash flow or
operating income (as measured by GAAP) or as a measure of
liquidity.

p arts

(Photo: http://www.com /cgi-bin/prnh/20060118/CLW057-a)
(Photo: http://www.newscom. Ms.3% to $20.
The Trade and Reference Publishing segment's net sales increased
3.0 million in the first quarter of 2005, from $26.2 million in the first
quarter of 2005 from cash used in operations of $94.3 million in
2005.
Capital expenditures increased to $29.6 million for the same period last year.com. Houghton Mifflin's parent company, HM
Publishing Corp.

HM Publishing Corp. and its wholly owned subsidiary Houghton
Mifflin Company. The Consolidated Statement
of Operations Data for HM Publishing Corp. "Thanks to the generous support of Volvo and other sponsors and
partnering organizations, we are able to present to Californians: Sweden
today -- A nation delivering innovative design, creativity, environmental
systems, scientific breakthroughs, communication technologies and business
prowess that are having an impact worldwide on contemporary lifestyle and
quality of life. The program is complementary to Volvo's mission to
expand our U.org).

various texts

, First Commonwealth
Financial Corporation (NYSE: FCF) today announced that the Board of Directors
appointed David S. Dahlmann as Chairman of the Board.com/cgi -bin/prnh/20060118/CLW057-b)
(Logo: http://www. Dahlmann has been on the Board since 1998, when Southwest National
Corp. Mr.

First Quarter 2005

Educational textbook purchasing patterns are seasonal, with most
publishing revenues generated in the second and third quarters of the
year .4 million from $139.0 million in the first
quarter of 2005, relatively flat with the same period in 2004 due to
lower test volumes for Promissor.9 million of interest income was recognized from
swap agreements.1 million in the
first quarter of 2004 to cash used in operations of $105., incorporated in
September 2003, conducts all of its operating activities
through Houghton Mifflin Company.

's 11.

b. "Each spring, the
Consulate General of Sweden organizes a month-long series of events ,
exhibits, seminars and celebrations that demonstrate Sweden's
entrepreneurial spirit and well -recognized leadership in lifestyle elements
like music and design.

mary arts

Additionally, the Board announced
that Julia E. She
resides in White Township, Indiana County, Pennsylvania, with John, her
husband and two children, John James and Clara."
"The investments we made last year have positioned the Company to
compete very effectively in our markets and increase market share.3 million in the same
period in 2004.
The net loss increased 8. The call is open to all
interested parties and discussions may include forward-looking
information. Houghton Mifflin Company publishes textbooks, instructional
technology, assessments and other educational materials for elementary
and secondary schools and colleges.5%
Senior Discount Notes issued in October 2003 and a
corresponding incremental tax benefit of $1. While EBITDA and operating free cash flow and
similar measures are frequently used as measures of operations
and an ability to meet debt service requirements, these terms
are not necessarily comparable to other similarly titled
captions of other companies due to potential inconsistencies
in the method of calculation.

PRESS RELEASE Consulate General of Sweden and Volvo Cars of North America Will Host March 14 Event to Kick Off 'Beyond Blond' Swedish Lifestyle Month at the Pa

Among the featured
lifestyle events are: a tribute to Greta Garbo at the Academy of Motion
Picture Arts and Sciences; Nordic Walking classes at Santa Monica Beach; a
Literary Event with PEN USA presenting Swedish and American authors, and
Sweden's Hottest New Rock Bands.S.calsweden.

mary includes

Dahlmann is an Adjunct Professor at St. His community involvement efforts include Vice Chairman
of Excela Health System and a Trustee of the University of Pittsburgh at
Greensburg. It operates in 15 counties in
western and central Pennsylvania through First Commonwealth Bank, a
Pennsylvania chartered bank and trust company.

and
Houghton Mifflin Company today announced first quarter results for
2005. Houghton Mifflin has historically incurred operating losses in
the first and fourth quarters of the year.

Net sales for the quarter ended March 31, 2005, increased $7.
The operating loss increased 6.0 million in the first
quarter of 2005 from $113.
EBITDA was a loss of $65. includes the
results of Houghton Mifflin Company and incremental interest
expense of $5.7 million. Throughout the year , the
Consulate General supports extensive programs and efforts to bring together
Swedish companies , artists, musicians and many others to interact and forge
partnerships with their counterparts in California.

plunkett joseph

Vincent
College, Latrobe, Pennsylvania.
Ms.

First Commonwealth Financial Corporation is a $6.0 billion bank holding
company headquartered in Indiana, Pennsylvania.

Business Editors

BOSTON----HM Publishing Corp.
The Other segment's net sales were $14. The decrease in operating cash flow was mainly due to a higher
net loss and a net increase in working capital .7 million in the first
quarter of 2005 from $26. Due to this seasonality, operating free cash flow ,
defined as cash flow from continuing operations less capital
expenditures, was a negative $135 .1 million in the first quarter of
2004.hmco. and Houghton Mifflin Company
Unaudited Summary of Consolidated Financial Data
(See Notes to Summary Consolidated Financial Data)

Three Months Ended,
----------------------
March 31, March 31,
2005 2004
---------- ----------
(dollars in thousands)
Statement of Operations Data (a):
Net sales by segment:
K-12 Publishing $85,441 $80,674
College Publishing 19,966 18,291
Trade and Reference Publishing 26,947 25,959
Other 14,034 14,122
---------- ----------
146,388 139,046
---------- ---- ------

Cost of sales excluding pre-publication and
publishing rights amortization 84,392 81,435
Pre-publication and publishing rights
amortization (b) 42,836 43,298
---- ------ ----------
Cost of sales 127,228 124,733
Selling and administrative expenses 139,052 126,790
Intangible asset amortization 1,116 1,208
---------- - ---------

Operating loss (121,008) (113,685)
Net interest expense (32,505) (28,829)
Other income (expense) (10) 24
---------- ----- -----

Loss before income taxes (153,523) (142,490)
Income tax benefit (55,440) (52,036)
----------------------
Net loss $(98,083) $(90,454)
========== ==========

Other Operating Data:
Reconciliation of operating loss to EBITDA:
Operating loss $ (121,008) $(113,685)
Other income (expense) (10) 24
Depreciation and amortization 55,442 53,096
---------- ----------
EBITDA (c) $(65,576) $(60 ,565)
========== ==========

Reconciliation of cash flow used in operations
to operating free cash flow:
========== ==========
Cash flow used in operations $(105,290 ) $(94,117)
Capital expenditures--excluding pre-publication
costs (9,603) (7,767)
Capital expenditures--pre-publication costs (b) (20,089) (18,179)
---------- ----------
Operating free cash flow (c) $(134,982) $(120,063)
========== ==========


Consolidated Balance Sheet Information (a):

As of March 31, 2005
(dollars in thousands)
Unrestricted cash and cash equivalents $70,537
Short -term borrowings $0
Long-term debt including current portion $1,315 ,374

Notes to Summary Consolidated Financial Data:

a. The costs to write manuscripts are expensed
as incurred.
Volvo is the Official Corporate Platinum Sponsor of the month-long program ,
which will commemorate "Swedish Design Year," the centenary anniversary of
Swedish film icon , Greta Garbo and Sweden's entrepreneurship and
achievements in lifestyle and artistic areas, including Film, Music,
Literature, Food, Sports and Fitness, Tourism and Trade. We are proud to have them as a partner in
our Swedish lifestyle month," says Tomas Rosander, Consul General of
Sweden."

"Volvo is pleased to support this year's Beyond Blond Lifestyle Month
program, which is the most ambitious yet," said Roger Ormisher, Vice
President of Public Affairs, Volvo Cars of North America . This year's Beyond
Blond program embraces Sweden's well-recognized leadership and
international influence in culture, lifestyle and the arts.

texts joseph

merged with First Commonwealth. He is also a director of First
Commonwealth Bank, First Commonwealth Insurance Agency and First Commonwealth
Financial Advisors. Cuccaro has served on the board of First Commonwealth Bank since 1995. Cuccaro is a
member of the Pennsylvania Bar Association, a member of the Board of Trustees
of Seton Hill University, Greensburg, Pennsylvania. "Net sales increased mainly due to higher textbook orders in
our K-12 Publishing segment.
The College Publishing segment's net sales increased 9. The increase in net sales was primarily due to a lower
expectation of returns in 2005 than in the first quarter of 2004.4% in the first quarter of 2005 to $98. The decrease in operating free cash flow was mainly due to the
previously mentioned higher net loss, net increase in the need for
working capital and higher capital expenditures.

Conference Call Schedule

The Company's senior management will review the first quarter
results on a conference call scheduled for this morning, May 10, 2005
at 10:00 A. The teleconference dial -in numbers to participate are:

United States (866) 322-2542

International (706) 634-7466

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. With its origins dating back
to 1832, Houghton Mifflin Company today combines its tradition of
excellence with a commitment to innovation.

"Safe Harbor" Statement under Private Securities Litigation Reform
Act of 1995

This communication includes forward-looking statements that
reflect the Company's current views about future events and financial
performance. The Company's expectations,
beliefs, and projections are expressed in good faith and it is
believed there is a reasonable basis for them.

However, there can be
no assurance that management's expectations, beliefs, and projections
will result or be achieved. The Consolidated Statement of Operations Data, Other Operating
Data and Balance Sheet Information presented includes HM
Publishing Corp.'s 11.

c.
The Consulate General of Sweden and Volvo
Cars of North America will host a preview opening event at 6:30 PM March
14 at the Pacific Design Center (B203) in West Hollywood to kick off Beyond
Blond - Swedish Lifestyle Month 2005 (March 15-April 15), which celebrates
Sweden's role as a global leader in culture, lifestyle and the arts.

poems p

newscom. He was a former Director on the Board of the
Federal Reserve Bank of Cleveland and formerly Vice Chairman of First
Commonwealth Financial Corporation. Mr.
Ms. Cuccaro is a member of First Commonwealth Bank's credit committee, which
reviews and approves the largest credit relationships. Mary's College, Notre Dame, Indiana, in 1982.

HM Publishing Corp. and Houghton Mifflin Company First Quarter 2005 Results

4
million, or 5.
The K-12 Publishing segment's net sales increased 5.0
million in the first quarter of 2005, from $18.7 million in the same period in 2004 . The
operating loss in 2005 includes increased editorial development and
increased selling and administrative costs including those associated
with the sales force expansion during the second half of 2004,
partially offset by margin contribution related to higher net sales.1
million, compared to a loss of $90. In the first
quarter of 2004, $3. The
increase was due to higher pre-publication expenditures in the K-12
Publishing segment for new product development and higher capital
expenditures for new back-office systems.6 million in the first quarter of 2005,
compared to a loss of $60.M.

The Company's Web site can
be found at www. Words such as "estimates," "expects," "anticipates,"
"projects," "plans," "intends," "believes," "forecasts" and variations
of such words or similar expressions that predict or indicate future
events or trends, or that do not relate to historical matters,
identify forward-looking statements. HM Publishing Corp.0 million from HM Publishing Corp .5% Senior Discount Notes. Pre-publication expenditures include art, prepress and other
costs incurred in the creation of a master copy of a book or
other media. These expenditures are capitalized and then
amortized over the subsequent three to five years on an
accelerated basis.

"Volvo is one of Sweden's strongest brands and has earned a solid
international reputation for innovative design, environmental consciousness
and safety within the industry. market by offering a premium product that meets the demands
of today's lifestyle trends.

literature plunkett

Trimarchi Cuccaro has been named to fill the unexpired term of
her father, E.newscom.com/cgi-bin/prnh/20030416/FIRSTLOGO)
Mr. She is also a director of
First Commonwealth Insurance Agency and First Commonwealth Financial Advisors.
"The first quarter fulfilled our expectations and we are pleased
with the results," said Tony Lucki, President and Chief Executive
Officer.0 million in the first
quarter of 2004 .4
million in the first quarter of 2005, from $80. The increase in net sales was mainly due
to frontlist releases, including Extremely Loud and Incredibly Close
by Jonathan Safran Foer, Three Nights in August by Buzz Bissinger,
Reversing the Curse by Dan Shaughnessy, and Venus and Serena: Serving
from the Hip by Venus and Serena Williams.
Cash flow from operations decreased $11. The
difference was mainly due to the higher first quarter 2005 operating
loss. Houghton Mifflin Company also
publishes an extensive line of reference works and award-winning
fiction and nonfiction for adults and young readers.3 million
of HM Publishing Corp. Two major exhibitions are featured during
the month at the Pacific Design Center in West: "Designed in Sweden" an
exhibition presenting art, glass, furnishings, textiles and industrial
design recently shown at the Museum of London (the installation will be
shown in New York following its Los Angeles debut); and a special showing
of Volvo's futuristic automotive and industrial design. On display are the
Tandem cars and the Volvo Extreme Gravity car designed by the Volvo
designers based at the Volvo design center in Camarillo ."

In presenting its annual lifestyle program, the Consulate General of Sweden
aims to highlight the latest trends in a country with a global reputation
as a trend-setter while at the same time demonstrating the synergy that
exists between Sweden and California in lifestyle, design, music, film,
fitness, IT, life sciences and biotechnology.

Many Beyond Blond 2005 events will be open to the public. (For details
please visit www.

plunkett mary

Fills Vacant Board Seat

INDIANA, Pa. O'Dell, who was Acting Chairman.
Prior to that she had been a director of National Bank of the Commonwealth, a
predecessor of First Commonwealth Bank, since 1992. Financial services and
insurance products are also provided through First Commonwealth Insurance
Agency , and First Commonwealth Financial Advisors, Inc. The seasonal loss was higher than in the
comparable period in 2004 because of planned increases in selling
costs and editorial expenses in preparation for the significant
adoption opportunities in 2005 and in subsequent years.7 million in the same
period in 2004.0 million
for the same period in 2004.4% to $121. In addition to the higher operating loss, the higher
net loss includes the year-over-year change in the mark-to-market
adjustments for, and settlements of, interest rate swaps.
Due to the seasonal nature of our business, with approximately 50%
of net sales realized in the third quarter, the Company normally
incurs a net cash deficit from all activities through the middle of
the third quarter. These factors include, but are not limited to: (i) market
acceptance of new educational and testing products and services,
particularly reading , literature, language arts, mathematics, science,
and social studies; and norm referenced and criterion -referenced
testing, (ii) the seasonal and cyclical nature of educational sales;
(iii) changes in funding in school systems throughout the nation,
which may result in cancellation of planned purchases of educational
and testing products and/or services and shifts in timing of
purchases; (iv) changes in educational spending in key states such as
California, Texas, and Florida, and the Company's share of that
spending; (v) changes in purchasing patterns in elementary and
secondary schools and, particularly in college markets, the effect of
textbook prices, technology, and the used book market on sales; (vi)
changes in the competitive environment, including those which could
adversely affect revenue and cost of sales, such as the increased
amount of materials given away in the elementary and secondary school
markets and increased demand for customized products; (vii) changes in
the relative profitability of products sold; (viii) regulatory changes
that could affect the purchase of educational and testing products and
services; (ix) changes in the strength of the retail market for
general interest publications and market acceptance of newly-published
titles and new electronic products; (x) the ability of Riverside,
Edusoft, and Promissor to enter into new agreements for testing
services and generate net sales growth; (xi) delays and unanticipated
expenses in developing new programs and other products; (xii) delays
and unanticipated expenses in developing new technology products, and
market acceptance and use of online instruction and assessment
materials; (xiii ) the potential for damages and fines resulting from
errors in scoring high-stakes tests; (xiv) the potential effect of a
continued weak economy on sales of K-12, college, and general interest
publications; (xv) the risk that the Company's well-known authors will
depart and write for our competitors; (xvi ) the effect of changes in
accounting, regulatory, and/or tax policies and practices; and (xvii)
other factors detailed from time to time in the Company's filings with
the Securities and Exchange Commission . The
Consolidated Balance Sheet Information includes $178. EBITDA and operating free cash flow are included as both a
measure of the Company's ability to generate cash as well as
its ability to meet debt service requirements.

various texts

James Trimarchi, who elected to retire last month. Dahlmann is a graduate of Indiana
University of Pennsylvania with a Bachelor of Arts degree in Economics and a
Masters in Business. Dave resides in Greensburg, Pennsylvania, with his wife Kathy and
is the father of two and grandfather of four. Julia is a 1986 graduate
of the Duquesne University School of Law and received a Bachelor of Science
degree in Arts at St.3%, to $146. The increase in net sales was mainly due to early
textbook orders, residual reading orders and revenue earned from
Edusoft's 2004 contract wins.5 million reported in the same
period in 2004.0 million in the same period in 2004.0 million in the first quarter of
2005 compared to a negative $120. Eastern Daylight Time. Houghton Mifflin
offers computer-administered testing programs and services for the
professional and certification markets., conducts all of its operating activities through
Houghton Mifflin Company.

includes literature

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- - kjjkjk

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