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McClatchy Reports January 2008 Revenues

Released 02/27/2008

The McClatchy Company (NYSE: MNI) today reported that consolidated revenues in January 2008 decreased 14.4% and advertising revenues were down 15.7% compared to revenues in January 2007.

Pat Talamantes, McClatchy's chief financial officer, said, "We were disappointed in our revenue performance in January, and foresee similar performance during the rest of the quarter. As we anticipated, a majority of the decline continued to come from newspapers in California and Florida, two states severely affected by the real estate downturn, and we are feeling the impact of worsening economic trends. We are intensely focused on cost controls to mitigate the impact on our profitability."

Advertising revenue performance at the company's newspapers is summarized in McClatchy's statistical report that follows.

About McClatchy

The McClatchy Company is the third largest newspaper company in the United States, with 30 daily newspapers, approximately 50 non-dailies, and direct marketing and direct mail operations. McClatchy also operates leading local websites in each of its markets which extend its audience reach. The websites offer users information, comprehensive news, advertising, e-commerce and other services. Together with its newspapers and direct marketing products, these interactive operations make McClatchy the leading local media company in each of its premium high growth markets. McClatchy-owned newspapers include The Miami Herald, The Sacramento Bee, The Fort Worth Star-Telegram, The Kansas City Star, The Charlotte Observer, and The (Raleigh) News & Observer.

McClatchy also has a portfolio of premium digital assets. The company owns and operates McClatchy Interactive, an interactive operation that provides websites with content, publishing tools and software development. McClatchy owns 14.4% of CareerBuilder, the nation's largest online job site, and owns 25.6% of Classified Ventures, a newspaper industry partnership that offers two of the nation's premier classified websites: the auto website, cars.com, and the rental site, apartments.com. McClatchy is listed on the New York Stock Exchange under the symbol MNI.

Additional Information:

Statements in this press release regarding future financial and operating results, including revenues, operating expenses, cash flows, debt levels, as well as future opportunities for the company and any other statements about management's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," estimates and similar expressions) should also be considered to be forward-looking statements. There are a number of important risks and uncertainties that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the duration and depth of an economic recession in markets where McClatchy operates its newspapers may reduce its income and cash flow greater than expected; McClatchy may not consummate contemplated transactions which may enable debt reduction on anticipated terms or at all; McClatchy may not achieve its expense reduction targets or may do harm to its operations in attempting to achieve such targets; McClatchy's operations have been, and will likely continue to be, adversely affected by competition, including competition from internet publishing and advertising platforms; McClatchy's expense and income levels could be adversely affected by changes in the cost of newsprint and McClatchy's operations could be negatively affected by any deterioration in its labor relations, as well as the other risks detailed from time to time in the Company's publicly filed documents, including the Company's Annual Report on Form 10-K for the year ended December 30, 2007, filed with the U.S. Securities and Exchange Commission. McClatchy disclaims any intention and assumes no obligation to update the forward-looking information contained in this release.

***The McClatchy Company*** Consolidated Statistical Report (In thousands, except for preprints)

January Combined

Revenues - Net: 2008 2007 % Change

Advertising Retail $67,569 $73,614 -8.2% National 13,889 17,465 -20.5% Classified Total 51,719 68,502 -24.5% Automotive 12,478 14,893 -16.2% Real Estate 12,863 19,683 -34.6% Employment 18,168 25,948 -30.0% Other 8,210 7,978 2.9% Direct Marketing 12,228 12,959 -5.6% Other Advertising 133 120 10.8% Total Advertising $145,538 $172,660 -15.7%

Circulation 25,786 27,436 -6.0% Other 5,505 6,600 -16.6% Total Revenues $176,829 $206,696 -14.4%

Advertising Revenues by Market: California $26,338 $34,055 -22.7% Florida 22,290 31,382 -29.0% Texas 15,991 16,894 -5.3% Southeast 42,094 47,350 -11.1% Midwest 21,870 23,367 -6.4% Northwest 16,817 19,091 -11.9% Other 138 521 -73.5% Total Advertising $145,538 $172,660 -15.7%

January Print Only

Revenues - Net: 2008 2007 % Change

Advertising Retail $64,862 $71,697 -9.5% National 12,940 17,060 -24.2% Classified Total 40,599 56,424 -28.0% Automotive 9,949 12,982 -23.4% Real Estate 11,547 18,407 -37.3% Employment 11,629 17,610 -34.0% Other 7,474 7,425 0.7% Direct Marketing 12,228 12,959 -5.6% Other Advertising 134 120 11.7% Total Advertising $130,763 $158,260 -17.4%

Advertising Revenues by Market: California $23,896 $31,666 -24.5% Florida 20,705 29,275 -29.3% Texas 14,554 15,836 -8.1% Southeast 37,094 42,717 -13.2% Midwest 19,745 21,107 -6.5% Northwest 14,769 17,178 -14.0% Other 0 481 -100.0% Total Advertising $130,763 $158,260 -17.4%

Advertising Statistics for Dailies: Full Run ROP Linage 2,469.2 2,822.5 -12.5%

Millions of Preprints Distributed 544.4 579.4 -6.0%

Average Paid Circulation:* Daily 2,708.8 2,802.2 -3.3% Sunday 3,315.8 3,462.9 -4.2%

January Online Only

Revenues - Net: 2008 2007 % Change

Advertising Retail $2,706 $1,918 41.1% National 949 405 134.3% Classified Total 11,121 12,078 -7.9% Automotive 2,529 1,911 32.3% Real Estate 1,316 1,276 3.1% Employment 6,539 8,338 -21.6% Other 737 553 33.3% Direct Marketing Other Advertising Total Advertising $14,776 $14,401 2.6%

Advertising Revenues by Market: California $2,442 $2,389 2.2% Florida 1,585 2,107 -24.8% Texas 1,437 1,059 35.7% Southeast 5,000 4,633 7.9% Midwest 2,125 2,260 -6.0% Northwest 2,048 1,912 7.1% Other 139 41 239.0% Total Advertising $14,776 $14,401 2.6%

* Reflects average paid circulation based upon number of days in period. Does not reflect ABC reported figures.

SOURCE The McClatchy Company