Martha Stewart Living Omnimedia, Inc. and Discovery Communications Announce Multifaceted Programming Partnership

Martha to Rebroadcast Early Evenings on TLC in September 2005; MSLO to Create Original Home Improvement Series for Discovery Networks

NEW YORK, July 26 -- Martha Stewart Living Omnimedia (NYSE: MSO) and Discovery Communications today announced a multifaceted partnership whereby Martha, MSLO's new syndicated television show, will rebroadcast on TLC, which is owned and operated by Discovery Communications. The companies also announced that MSLO will develop a 13-part original home improvement series to air on one of Discovery's 16 U.S. networks. In addition, the partnership includes distribution of selections from the company's existing library of programming.

Martha, scheduled to launch September 12, 2005, in more than 96 percent of the U.S., will also air on TLC in the early evening on the same day and date as the syndicated broadcast. Martha will reach nearly 90 million homes on TLC.

In addition to Martha, MSLO will partner with Discovery Communications on a new 13-part original home improvement series, which focuses on six women in transition. The women, coming off welfare programs, recovering from bankruptcy or getting out of rehab, will be partnered with a mentor from a renovation and design team selected by Martha Stewart Living staff. From shingling a roof to wiring a house for electricity to painting and decorating every room, these women will transform an old house while learning important home building, design and renovation skills that will help each stand on their own and begin the next chapter of their lives. The series will begin production in the fall and is scheduled to air in 2006 on a Discovery U.S. network to be determined at a later date.

"We're thrilled that Martha will be available to television viewers in a later time period," said Susan Lyne, President and CEO of MSLO. "Our partnership with Discovery Communications also will give us a platform to create new lifestyle programming, while expanding the audience for our evergreen library product."

"We look forward to bringing Martha Stewart's creativity and innovative style to our viewers. This advances our goal to continue developing quality production partnerships with original content that can build a strong and loyal audience. We believe this multifaceted partnership with Martha Stewart Living Omnimedia will attract a passionate and diverse audience and refresh our early evening block on TLC," said Billy Campbell, President, Discovery Networks, U.S.

Stated MSLO Founder Martha Stewart: "Every day, we strive to give viewers interesting and inspiring information that will make their everyday lives easier and more enjoyable. The new daily show will feature a live, participatory audience, intriguing guests and our signature 'how-to' lifestyle content. We are so excited that it will be available to TLC's inquisitive and engaged viewers. Our new home improvement series will inspire and inform, while mentoring and teaching valuable life skills -- from repairing brickwork, laying flooring, painting rooms and installing a functional and lovely kitchen."

"Early on, it was clear that Discovery Communications was the ideal partner for our brand of lifestyle programming content. From home and kids and animals to health and well-being, MSLO and Discovery Communications share the same areas of interest, presenting to us limitless programming opportunities," said Heidi Diamond, President of Television for Martha Stewart Living Omnimedia.

About Discovery Communications

Discovery Communications is the leading global real-world media and entertainment company. Discovery has grown from its core property, the Discovery Channel, first launched in the United States in 1985, to current global operations in more than 160 countries and territories with 1.2 billion cumulative subscribers. DCI's over 90 networks of distinctive programming represent 21 entertainment brands including TLC, Animal Planet, Travel Channel, Discovery Health Channel, Discovery Kids, Discovery Times Channel, The Science Channel, Military Channel, Discovery Home Channel, Discovery en Espaqol, Discovery HD Theater and FitTV. DCI's other properties consist of Discovery Education and Discovery Commerce, which operates 120 Discovery Channel retail stores. DCI also distributes BBC America in the United States. DCI's ownership consists of four shareholders: Liberty Media Corporation (NYSE: L), Cox Communications, Inc., Advance/Newhouse Communications and John S. Hendricks, the Company's Founder and Chairman.

About Martha Stewart Living Omnimedia, Inc.

Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of original "how-to" information, inspiring and engaging consumers with unique lifestyle content and high-quality products. MSLO is organized into four business segments: Publishing, Television, Merchandising, and Internet/Direct Commerce. Martha Stewart Living Omnimedia, Inc. is listed on the New York Stock Exchange under the ticker symbol MSO.

We have included in this press release certain "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts but instead represent only our current beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These statements can be identified by terminology such as "may," "will," "should," "could," "expects," "intends," "plans," "anticipates," "believes," "estimates," "potential" or "continue" or the negative of these terms or other comparable terminology. The Company's actual results may differ materially from those projected in these statements, and factors that could cause such differences include: adverse reactions to publicity relating to Martha Stewart by consumers, advertisers and business partners; an adverse resolution to the pending SEC enforcement proceeding against Ms. Stewart arising from her personal sale of non-Company stock; adverse resolution of some or all of the Company's ongoing litigation; downturns in national and/or local economies; shifts in our business strategies; a loss of the services of Ms. Stewart; a loss of the services of other key personnel; a softening of the domestic advertising market; changes in consumer reading, purchasing and/or television viewing patterns; unanticipated increases in paper, postage or printing costs; operational or financial problems at any of our contractual business partners; the receptivity of consumers to our new product introductions; and changes in government regulations affecting the Company's industries. Certain of these and other factors are discussed in more detail in the Company's filings with the Securities and Exchange Commission, especially under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations", which may be accessed through the SEC's World Wide Web site at http://www.sec.gov. The Company is under no obligation to update any forward-looking statements after the date of this release.

SOURCE Martha Stewart Living Omnimedia
Web Site: http://www.marthastewart.com