Lee Enterprises Declares Quarterly Dividend

Business Wire, May 20, 2005

DAVENPORT, Iowa -- The Board of Directors of Lee Enterprises, Incorporated (NYSE:LEE), has declared a quarterly cash dividend of 18 cents per share. The dividend is payable July 1, 2005, to stockholders of record of both the Common Stock and Class B Common Stock as of June 1, 2005.

Lee Enterprises owns 38 daily newspapers and a joint interest in six others, along with associated online services. Lee also publishes nearly 200 weekly newspapers, shoppers and classified and specialty publications. Lee is based in Davenport, Iowa, and its stock is traded on the New York Stock Exchange under the symbol LEE. More information about Lee Enterprises is available at www.lee.net.

On Jan. 30, 2005, Lee and Pulitzer Inc. (NYSE:PTZ) announced that they have entered into a definitive agreement for Lee to acquire all of Pulitzer's capital stock for a cash purchase price of $64 per share, with enterprise value totaling $1.46 billion. The boards of directors of both companies have unanimously approved the transaction. The transaction is subject to customary closing conditions and approval by Pulitzer shareholders. The transaction is expected to close by the end of the second calendar quarter of 2005. Pulitzer's 14 daily newspapers include the St. Louis Post-Dispatch.