News Release Details

DAVENPORT, Iowa--(BUSINESS WIRE)--Aug. 4, 2005--Newspaper publisher Lee Enterprises, Incorporated (NYSE:LEE), announced today that it has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission (SEC).

When effective, the shelf registration statement will give Lee the flexibility to issue and publicly distribute various types of securities, including preferred stock, common stock, secured or unsecured debt securities, purchase contracts and units consisting of any combination of such securities, from time to time in one or more offerings up to an aggregate amount of $500 million.

Once declared effective by the SEC, the shelf registration statement would enable Lee to sell securities quickly and efficiently when market conditions are favorable or financing needs arise. Net proceeds from the sale of any securities may be used for general corporate purposes, including repayment or refinancing of borrowings, working capital, capital expenditures, acquisitions or the repurchase of common stock.

The registration statement on Form S-3 relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted before the time the registration statement becomes effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful before registration or qualification under the securities laws of any such state. This news release is being issued pursuant to and in accordance with Rule 134 under the Securities Act of 1933, as amended. An offer, if any, of these securities will be made solely by means of a prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering. When available, a written prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from Lee at 201 N. Harrison Street, Suite 600, Davenport, Iowa 52801, Attention Dan Hayes, Director of Communications.

On June 3, 2005, Lee acquired Pulitzer Inc. and its 14 daily newspapers, including the St. Louis Post-Dispatch. With the acquisition of Pulitzer, Lee owns 52 daily newspapers and a joint interest in six others. Lee also operates associated online services and more than 300 weekly newspapers, shoppers 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.

The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. This release contains information that may be deemed forward-looking and that is based largely on the Company's current expectations and is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those anticipated. Among such risks, trends and other uncertainties are changes in advertising demand, newsprint prices, interest rates, labor costs, legislative and regulatory rulings and other results of operations or financial conditions, difficulties in integration of acquired businesses or maintaining employee and customer relationships and increased capital and other costs. The words "may," "will," "would," "could," "believes," "expects," "anticipates," "intends," "plans," "projects," "considers" and similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are made as of the date of this release. The Company does not publicly undertake to update or revise its forward-looking statements.

    CONTACT: Lee Enterprises, Davenport
             Dan Hayes, 563-383-2100
             dan.hayes@lee.net

    SOURCE: Lee Enterprises, Incorporated