HLR Hollinger Intl CL A

Board Authorizes Additional $50 Million Share Repurchase Program NEW YORK, June 13 /PRNewswire-FirstCall/ -- Hollinger International, Inc. (NYSE:HLR) today announced the results of its Annual Meeting of Shareholders, held earlier in the day in New York City. In addition, the Company announced that its Board of Directors has authorized the repurchase of up to an aggregate value of $50 million of its Common Stock and that, following the Meeting, Hon. Raymond G.H. Seitz was elected non-Executive Chairman of the Board of Directors. Annual Meeting Results and Election of Non-Executive Chairman Shareholders of the Company approved all three proposals submitted by the Board of Directors for their consideration at the Meeting today. The proposals included changing the name of the Company to the Sun-Times Media Group Inc., which will take effect in July 2006. The other proposals approved at the Meeting today included the reelection of the Board of Directors for one-year terms. The following directors were reelected: John F. Bard; Stanley M. Beck, Q.C.; Randall C. Benson; Cyrus F. Freidheim, Jr.; John M. O'Brien; Graham W. Savage; Raymond S. Troubh; Chief Executive Officer Gordon A. Paris; and Mr. Seitz. Following the Meeting, the Board of Directors elected Mr. Seitz as non-executive Chairman. He has been a Director of Hollinger International since July 2003. Previously, Mr. Seitz served as Vice Chairman of Lehman Brothers (Europe) from April 1995 to April 2003, following his retirement as the American Ambassador to the Court of St. James from 1991 to 1995. From 1989 to 1991, Mr. Seitz was Assistant Secretary of State for Europe and Canada. Mr. Seitz currently serves as a director of The Chubb Corporation and PCCW Limited. Additionally, shareholders approved the adoption of a cash incentive plan designed to compensate Company executives based on performance. Additional Share Repurchase Program The Board of Directors has authorized the Company to repurchase up to an aggregate value of $50 million of its Common Stock from time to time in open market and privately negotiated transactions. The stock repurchase is subject to prevailing market conditions and other considerations. To date, in 2006, the Company has repurchased 8.7 million shares of its Common Stock at an average cost, including commissions, of $7.80 per share. Addressing shareholders at the Annual Meeting, Mr. Paris said, "We believe that repurchasing stock at these prices is an excellent investment and a significant value creation tool." He continued later, "We believe that we are building a company primed to generate strong, sustainable earnings. By leveraging our content and deep roots in local communities across the Chicago market, we see meaningful opportunities to expand our share of readership and advertising both in print and online. While the market is likely to remain challenging, it is our belief that the initiatives we have launched with the ad sales force and on the new media front will best position us to drive future revenues. On the cost side, we continue to pursue opportunities to improve the efficiency and productivity of our operations. The bottom line is that the Board and Management are committed to working diligently and aggressively to build and deliver value for our shareholders." For the full text of Mr. Paris' remarks, please visit http://www.hollingerinternational.com/, and go to the Investor Relations section. A webcast of the Meeting is also archived in that section. Regular Dividend Announced Separately, the Company announced that its Board of Directors declared a quarterly dividend of $0.05 per share on the issued and outstanding Common Stock of the Company to be payable July 14, 2006 to stockholders of record on June 30, 2006. Hollinger International Inc. (http://www.hollingerinternational.com/) is a newspaper publisher whose assets include The Chicago Sun-Times and a large number of community newspapers in the Chicago area. Cautionary Statement on Forward-Looking Statements. Certain statements made in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward- looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "project," "will be," "will continue," "will likely result" or similar words or phrases. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from the forward-looking statements. The risks and uncertainties are detailed from time to time in reports filed by Hollinger International with the Securities and Exchange Commission, including in its Forms 10-K and 10-Q. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward- looking statements as a prediction of actual results. Contacts: Molly Morse/Jeremy Fielding Kekst and Company 212-521-4826/4825 / DATASOURCE: Hollinger International, Inc. CONTACT: Molly Morse, +1-212-521-4826, , or Jeremy Fielding, +1-212-521-4825, , both of Kekst and Company Web site: http://www.hollingerinternational.com/

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