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Gannett Releases August Statistical Report, Ad Revenue Down 9%

Press release from the issuing company

ARLINGTON, Va.-Sept. 14, 2001--Gannett Co., Inc. reported today that total pro forma operating revenues declined 6 percent for the eighth period ended September 2, 2001 compared to the same period in 2000. Results for the period continue to reflect a difficult domestic advertising environment. Looking ahead, it appears that September advertising demand will be unfavorably impacted by the tragic events of the past week. Pro forma newspaper advertising revenues declined 7 percent in the period on a pro forma ROP volume decrease of 4 percent and flat preprint distribution. Pro forma classified revenues declined 9 percent in the August period on a 2 percent decrease in ad volume. Employment revenues decreased 25 percent, real estate advanced 4 percent and automotive rose 3 percent. The company's classified results from Newsquest, particularly in help wanted, were stronger than the domestic results. Pro forma local advertising revenues declined 2 percent on a 5 percent decrease in ad volume. Once again, the performance of the company's small and medium-sized advertisers in its domestic newspapers significantly outpaced the revenue performance of its largest advertisers. Pro forma national advertising revenues declined 14 percent on a 16 percent decline in ad volume. National volume at local domestic newspapers fell 15 percent. At USA TODAY advertising revenues declined 18 percent while paid pages declined 21 percent to 342 from 436. For the year-to-date, USA TODAY's paid pages numbered 3,574 compared to 4,474 last year, while ad revenues were 19 percent lower. Pro forma television revenues declined 7 percent in the eighth period. Local revenues were flat, but national revenues fell 16 percent. Television revenue comparisons are expected to be more difficult for the balance of 2001 as the second half of 2000 benefited from strong political and Olympics related advertising. In addition to the revenue and statistical summary, attached is a chart that shows the consolidated Gannett Online audience shares for August from Media Metrix and Nielsen/Net Ratings. In August, Gannett's domestic Web sites, according to Nielsen/Net Ratings, had 8.9 million unique visitors reaching 7.9 percent of the Internet audience. Ad linage for Newsquest and Newscom is not included in the ad volume statistics. Circulation volume numbers for Newsquest's and Newscom's paid daily newspapers are included in the enclosed statistics, but volume from unpaid daily and non-daily publications is not included in the circulation volume statistics. Gannett Co., Inc. is an international news and information company that publishes 97 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns in excess of 300 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. In the United Kingdom, Gannett subsidiary Newsquest plc publishes nearly 300 titles, including 15 daily newspapers. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.