NEWSPAPERS ONLINE CLASSIFIED, SHOPPER, SPECIALTY PUBLICATIONS

1 9 9 9   A N N U A L   R E P O R T   /   O P E R A T I O N S   &   M A R K E T S

Message    Two-year      Summary      Highlights   Sources and      Uses of Cash   Six-year      financial      performance   Management      Discussion &      Analysis   Consolidated      Balance      Sheets   Consolidated      Statements      of Income   Consolidated      Statements      of Cash Flows   Stockholders'      Equity   Notes to      Consolidated      Statements   Quarterly      Results   Independent      Auditor's      Report   Directors      and Officers   Corporate      Directory   Operations      and Markets   1998 report      1997 report      1996 report      MAIN MENU   Lee Enterprises   201 N. Harrison St.   Davenport, IA         52801-1939   319-383-2100

Broadcasting Daily Newspapers Weekly Newspapers Classified, Shopper and Specialty Publications Agri-Media Publications Other Products and Services BROADCASTING Arizona KGUN-9 (ABC) Tucson www.kgun.com Hawaii KGMB-9 (CBS) Honolulu www.kgmb.com Kansas KSNG-11 (NBC) Garden City www.ksn.com KSNC-2 (NBC) Great Bend www.ksn.com KSNK-8 (NBC) Oberlin www.ksn.com KSNT-27 (NBC) Topeka www.ksnt.com KSNW-3 (NBC) Wichita www.ksnw.com     Nebraska KMTV-3 (CBS) Omaha, Nebraska www.kmtv.com New Mexico KRQE-13 (CBS) Albuquerque www.cbssouthwest.com KREZ-6 (CBS) Durango, Colorado / Farmington, New Mexico www.cbssouthwest.com KBIM-10 (CBS) Roswell www.cbssouthwest.com Oregon KOIN-6 (CBS) Portland www.koin.com Texas KMAZ-48 (Telemundo) El Paso West Virginia WSAZ-3 (NBC) Huntington / Charleston www.wsaz.com  DAILY NEWSPAPERS Illinois Southern Illinoisan Carbondale, Daily: 26,066 Sunday: 34,300 TMC: 35,100 www.southernillinoisan.com Herald & Review, Decatur Daily: 36,845 Sunday: 45,470 TMC: 22,000 www.herald-review.com Iowa Quad-City Times, Davenport Daily: 53,869 Sunday: 76,145 TMC: 28,000 www.qctimes.com Globe-Gazette, Mason City Daily: 20,232 Sunday: 24,566 TMC: 5,773 www.globegazette.com Muscatine Journal Daily: 8,459 TMC: 16,944 www.muscatinejournal.com Minnesota Winona Daily News Daily: 12,259 Sunday: 12,967 TMC: 11,261 www.winonadailynews.com Montana Billings Gazette Daily: 48,977 Sunday: 55,078 TMC: 14,832 www.billingsgazette.com The Montana Standard, Butte Daily: 15,075 Sunday: 15,292 www.montanastandard.com Independent Record, Helena Daily: 13,532 Sunday: 14,544 TMC: 6,500 www.helenair.com Missoulian, Missoula Daily: 32,031 Sunday: 37,818 TMC: 15,460 www.missoulian.com Ravalli Republic, Hamilton Daily: 5,200 TMC: 16,000 Nebraska Beatrice Daily Sun Daily: 8,700 www.beatricedailysun.com Lincoln Journal Star Daily: 75,201 Sunday: 83,392 www.journalstar.com North Dakota The Bismarck Tribune Daily: 30,290 Sunday: 32,942 TMC: 34,600 www.ndonline.com Oregon Democrat-Herald, Albany Daily: 21,391 Mid-Valley Sunday: 34,910 * TMC: 16,500 www.mvonline.com Ashland Daily Tidings Daily: 4,885 TMC: 5,975 www.dailytidings.com Corvallis Gazette-Times Daily: 13,160 Mid-Valley Sunday: 34,910 * TMC: 16,500 www.mvonline.com South Dakota Rapid City Journal Daily: 32,226 Sunday: 33,471 TMC: 15,027 www.rapidcityjournal.com Wisconsin La Crosse Tribune Daily: 32,112 Sunday: 40,217 TMC: 21,270 www.lacrossetribune.com Wisconsin State Journal ** Madison Daily: 87,340 Sunday: 159,597 TMC: 44,480 www.madison.com The Journal Times, Racine Daily: 31,912 Sunday: 33,043 TMC: 29,050 www.journaltimes.com * Mid-Valley Sunday is a joint publication of the Democrat-Herald and the Corvallis Gazette-Times. ** Madison Newspapers, Inc., publishes the Wisconsin State Journal, the Capital Times, AgriView, Ad World, Apartment Showcase, Business First, Nursing Matters and Sun Prairie News. Lee supplies news and editorial content for the Wisconsin State Journal and owns 50% of Madison Newspapers, Inc. WEEKLY  NEWSPAPERS Iowa Bettendorf News Circulation: 2,600 Montana Big Fork Eagle Circulation: 4,500 www.bigforkeagle.com Hungry Horse News Columbia Falls Circulation: 7,000 www.hungryhorsenews.com Whitefish Pilot Circulation: 4,000 www.whitefishpilot.com Nebraska The Plattsmouth Journal Circulation: 5,000/twice-wk Burt County Plaindealer Tekamah Circulation: 2,000 North Dakota Mandan News Circulation: 1,900 www.finderads.com Oregon Cottage Grove Sentinel Circulation: 4,500 www.cgsentinel.com The Outlook Gresham Circulation: 8,800 www.theoutlookonline.com Lebanon Express Circulation: 3,500 www.mvonline.com Newport News-Times Circulation: 13,950 www.newportnewstimes.com Sandy Post Circulation: 2,000 The Springfield News Circulation: 11,000/twice-wk www.springfieldnews.com Wisconsin Business First , Madison ** Circulation: 10,000 www.business-first.net Sun Prairie News, Madison ** Circulation: 10,900 ** Madison Newspapers, Inc., publishes Business First and Sun Prairie News. Lee owns 50% of Madison Newspapers, Inc. CLASSIFIED,  SHOPPER,  SPECIALTY  PUBLICATIONS Arizona Cars & Trucks Tucson Circulation: 17,000/bi-wk www.wheeldeals.com Dandy Dime Tucson Circulation: 28,500 www.dandydime.com California Nickel Want Ad Newspaper Redding Circulation: 27,500 Illinois Prairie Shopper, Decatur Circulation: 45,050 www.theprairieshopper.com Wheels For You, Decatur Circulation: 11,000 Thrifty Nickel, East Moline Circulation: 11,650 www.qcthriftynickel.com Iowa Gateway Express, Clinton Circulation: 6,800/twice-wk Quad-City Advertiser, Davenport Circulation: 28,000 Winnebago/ Hancock Shopper Forest City Circulation: 12,500 www.winnebagoshopper.com Mason City Shopper Circulation: 33,950 www.masoncityshopper.com Classic Images, Muscatine Circulation: 4,750/mo. www.classicimages.com Films of the Golden Age Muscatine Circulation: 6,050/qtr. www.filmsofthegoldenage.com The Post, Muscatine Circulation: 20,850 www.muscatinepost.com Montana Thrifty Nickel, Billings Circulation: 30,000 www.billingsthriftynickel.com Western Business, Billings Circulation: 6,000 Yellowstone Shopper, Billings Circulation: 47,200 Mini Nickel, Bozeman Circulation: 22,900 www.virtualclassifieds.net Nickel Saver, Butte Circulation: 10,000 www.buttenickelsaver.com North Valley Advertiser Columbia Falls-Whitefish Circulation: 8,000 Western Shopper Deer Lodge Circulation: 4,800 www.deerlodgeshopper.com The Trader, Dillon Circulation: 6,200 www.tradershopper.com Consumers Press Great Falls Circulation: 33,000 www.virtualclassifieds.net Life & Times Press, Hamilton Circulation: 12,300 www.timespress.com The Adit, Helena Circulation: 23,500 www.adit.com The Eastmans’ Journal Helena Circulation: 30,000/mo. www.eastmans.com Montana Magazine, Helena Circulation: 40,000/mo. www.montanamagazine.com Autofinder, Missoula Circulation: 16,000 The Messenger, Missolua Circulation: 33,000 Nebraska Wheels For You, Grand Island Circulation: 15,000 Neighborhood Extra, Lincoln Circulation: 62,000 Wheels For You, Lincoln Circulation: 22,500 Nevada Home Scene, Las Vegas Circulation: 25,000 Nifty Nickel, Las Vegas Circulation: 60,0000 www.niftynickel.com Nifty Nickel Cars & Trucks Las Vegas Circulation: 30,000 www.niftynickel.com    New Mexico PennySaver, Albuquerque Circulation: 28,000 Quik Quarter/Thrifty Nickel Albuquerque Circulation: 38,000 Wheels4U, Albuquerque Circulation: 6,500 North Dakota Dickinson Finder Circulation: 13,800 The Finder, Mandan Circulation: 39,200 www.finderads.com Minot Finder Circulation: 18,000 www.finderads.com Oregon Goldmine, Cottage Grove Circulation: 14,000 The Family Times, Corvallis Circulation: 16,000 Nickel Want Ad Newspaper Klamath Falls Circulation: 19,000 www.wheeldeals.com Nickel Want Ad Newspaper Medford Circulation: 27,500 Nickel Ads, Portland Circulation: 202,000 www.nickelads.com Mighty Mailer, Springfield Circulation: 100,000 Northeast Neighbors Springfield Circulation: 8,800 South Dakota Rapid City Advertiser Circulation: 28,000 Northern Hills Advertiser Spearfish Circulation: 15,000 Utah Pioneer Shopper, St. George Circulation: 27,000 www.pioneershopper.com Washington Driveline, Spokane Circulation: 25,000 Little Nickel, Lynnwood Circulation: 320,000 www.littlenickel.com Homes, Moses Lake Circulation: 16,000/mo. Nickel Saver, Moses Lake Circulation: 21,500 www.nickelsaver.com Home Buyer’s Guide, Spokane Circulation: 10,000/mo. Nickel Nik, Spokane Circulation: 37,000 www.nickelnik.com Nickel Nik’s Wheel Deals Spokane Circulation: 42,000 www.wheeldeals.com Nickel Nik’s RV/Truck Wheel Deals, Spokane Circulation: 35,000 www.wheeldeals.com Smart Shopper, Spokane Circulation: 15,000 Wheel Deals, Tri-Cities Circulation: 21,500 www.wheeldeals.com Buyline, Walla Walla Circulation: 20,000 www.wheeldeals.com Homes, Wenatchee Circulation: 10,000/mo. Nickel Ads, Wenatchee Circulation: 26,500 Wisconsin Ad World, Madison ** Circulation: 15,000/bi-weekly Apartment Showcase ** Madison and Milwaukee www.aptshowcase.com Nursing Matters, Madison ** Circulation: 40,000/mo. The Enterpriser, La Crosse Circulation: 5,400 Foxxy Shopper, La Crosse Circulation: 34,100 www.lacrossefoxxy.com Home Buyer’s Guide La Crosse Circulation: 10,500/mo. Wheels For You, La Crosse Circulation: 22,000/mo. Pennysaver, Racine Circulation: 65,000 www.racinepennysaver.com Foxxy Shopper, Sparta Circulation: 42,450 www.spartafoxxyshopper.com ** Madison Newspapers, Inc., publishes Ad World, Apartment Showcase and Nursing Matters. Lee owns 50% of Madison Newspapers, Inc. AGRI-MEDIA  PUBLICATIONS Montana Ag Almanac Great Falls Circulation: 20,000/bi-wk www.agalmanac.com Nebraska Midwest Messenger Tekamah Circulation, 160,000/bi-wk www.midwestmessenger.com North Dakota Farm & Ranch Guide Bismarck Circulation: 39,600/bi-wk www.farmandranchguide.com South Dakota Tri-State Neighbor Sioux Falls Circulation: 30,000/bi-wk www.tristateneighbor.com Wisconsin AgriView, Madison ** Circulation: 46,700/wk www.madison.com        ** Madison Newspapers, Inc., publishes AgriView. Lee owns 50% of Madison Newspapers, Inc. OTHER PRODUCTS  AND  SERVICES Lee Print Decatur, Illinois Davenport, Iowa Townsend, Montana Lincoln, Nebraska Spokane, Washington International Newspaper Network *** Big Fork, Montana Davenport, Iowa Intermountain Printing and Publishing Deer Lodge, Montana  American & World Geographic Publishers Book Division Helena, Montana Internet Broadcasting Partners *** Portland, Oregon MIRA Mobile Portland, Oregon Western Mailers Rapid City, South Dakota *** Strategic alliance owned 50% or more by Lee.

Main Menu | Newspapers | All publications | Online | News releases | Financial | Careers About Lee | Inside Lee | Contact us Copyright 1995-2009, Lee Enterprises