News Release Details

DAVENPORT, Iowa--(BUSINESS WIRE)--Dec. 19, 2002--Lee Enterprises, Incorporated (NYSE:LEE), reported today that, excluding the effects of acquisitions and divestitures, publishing revenue in November increased 1.2 percent compared with a year ago.

Total advertising revenue increased 1.7 percent. Retail advertising revenue increased 1.8 percent. Classified revenue increased 2.4 percent, with employment advertising down only 0.4 percent, automotive advertising up 1.4 percent, real estate advertising up 10.9 percent, other newspaper classified categories up

• 4.0 percent, and classified in alternative publications down 1.9 percent. National advertising revenue, a small category for Lee, decreased 6.3 percent.

Circulation revenue increased 1.4 percent, reflecting unit growth. Online revenue increased 35.6 percent.

Including the results of acquisitions and divestitures, total publishing revenue increased 55.9 percent.

Last week, Lee issued an earnings outlook for the quarter ending Dec. 31, 2002. Carl Schmidt, vice president, chief financial officer and treasurer, said Lee expects earnings to be in the range of 49 to 51 cents per diluted common share from continuing operations, compared with 41 cents a year ago, before adjustment for the cost of expensing employee stock options. He said Lee's decision to begin expensing employee stock options will reduce results for the December quarter by an additional 1 cent per diluted common share and about 5 to 7 cents for the full year. Lee has chosen to restate prior years, if proposed accounting rules changes are finalized as proposed, which will reduce previously reported 2002 results by 5 cents for the full year. As a result, Lee expects earnings for the December quarter to be in the range of 48 to 50 cents per diluted common share from continuing operations, an increase of 20-25 percent compared with an adjusted 40 cents a year ago.

Lee Enterprises is based in Davenport, Iowa. Lee owns 38 daily newspapers and a joint interest in six others, along with associated online services. Lee also owns more than 175 weekly newspapers, shoppers and classified and specialty publications. 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 monthly and year-to-date statistical information follows.

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.

                     LEE ENTERPRISES, INCORPORATED
                    Revenue and Statistical Summary
                             November 2002
                              (Unaudited)

                       Publishing Revenue -- Operating Basis (1)

                           November                 Year To Date
(Thousands)        ------------------------ --------------------------
                     2002     2001     %      2002      2001      %
                   -------- -------- ------ --------- --------- ------
                     (2)     (2)(3)            (2)     (2)(3)
Advertising:
 Retail............$19,754  $19,408   1.8 % $ 37,512  $ 36,175   3.7 %
 National..........  1,073    1,145  (6.3)     2,182     2,205  (1.0)
 Classified:
  Daily Newspapers:
   Employment......  2,245    2,255  (0.4)     4,805     5,115  (6.1)
   Automotive......  2,351    2,318   1.4      4,667     4,518   3.3
   Real Estate.....  1,849    1,667  10.9      3,801     3,576   6.3
   All Other.......  1,574    1,513   4.0      3,495     3,307   5.7
  Alternative
   publications....  1,783    1,817  (1.9)     3,633     3,381   7.5
                   -------- --------        --------- ---------
  Total
   Classified......  9,802    9,570   2.4     20,401    19,897   2.5
                   -------- --------        --------- ---------
  Total
   Advertising..... 30,629   30,123   1.7     60,095    58,277   3.1
Circulation........  8,395    8,282   1.4     16,895    16,785   0.7
Online.............    765      564  35.6      1,533     1,091  40.5
Other..............  6,094    6,387  (4.6)    11,942    11,953  (0.1)
                   -------- --------        --------- ---------
  Total --
   Same Property
  Operating Basis.. 45,883   45,356   1.2     90,465    88,106   2.7
Equity Basis
 Adjustment........ (9,309)  (8,975)  3.7    (18,498)  (17,659)  4.8
Acquired/Divested
 Properties and
 Other............. 21,426      827   NM      41,987     1,508   NM
                   -------- --------        --------- ---------
  Total Publishing
  Revenue..........$58,000  $37,208  55.9 % $113,954  $ 71,955  58.4 %
                   ======== ========        ========= =========

          Daily Newspaper Advertising -- Operating Basis (1)

                          November                 Year To Date
                   ------------------------ --------------------------
(Thousands of
  Inches)            2002     2001     %      2002       2001      %
                   -------- -------- ------ --------- --------- ------
                      (2)    (2)(3)            (2)      (2)(3)

Retail.............    667      694  (3.9)%    1,288     1,327  (2.9)%
National...........     28       32 (12.5)        61        68 (10.3)
Classified.........    525      522   0.6      1,078     1,084  (0.6)
                   -------- --------        --------- ---------
  Total, Same
   Property
  Operating Basis..  1,220    1,248  (2.2)%    2,427     2,479  (2.1)%
                   ======== ========        ========= =========

Notes to Revenue and Statistical Summary:

    (1) Operating basis includes 100% of the revenue and statistical
        information of Madison Newspapers, Inc. (MNI), which for
        financial reporting purposes is reported using the equity
        method of accounting. Lee owns 50% of the stock of MNI.

    (2) The month had one more Saturday and one fewer Thursday than
        the prior period. The year to date had one more Saturday and
        one fewer Monday than the prior period.

    (3) Previously reported same-property data has been restated for
        comparative purposes to exclude acquired/divested properties.

    (4) The Company's fiscal year ends on September 30.

    (5) The Company disclaims responsibility for updating information
        beyond release date.