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Introduction

Knight Ridder is a communications company engaged primarily in newspaper and Internet publishing. It is the nation’s second-largest newspaper publisher in terms of circulation, with papers in more large cities than any other company. In 2003, it produced revenue of more than $2.9 billion.

Knight Ridder’s goal is to be pre-eminent in news, information and advertising in its markets: developing high-value products and services to complement our traditional businesses; growing reader and advertising share every year; reaching a majority of adults every day; holding the dominant share of local online consumer and advertiser business.

The Newspaper Division oversees 31 dailies in 28 U.S. markets, with 8.7 million readers daily and 12.6 million on Sunday. The company also publishes more than two dozen nondaily newspapers, as well as shoppers and special publications.

Quality journalism is a hallmark of Knight Ridder; its newspapers have won 84 Pulitzer Prizes, including 14 Gold Medals for Meritorious Public Service.

Knight Ridder Digital operates the company’s newspaper Web sites and manages the Real Cities Network of affiliated sites in more than 110 U.S. markets. It jointly owns several classified ad listings and shopping services sites.

Knight Ridder has partial ownership interests in a number of companies, including two newsprint mills – serving as a hedge against price volatility – and in several electronic media enterprises.

The company employs approximately 18,000 people. Its more than 77 million shares of common stock outstanding are held by approximately 7,800 shareholders of record in all 50 states and abroad.

Knight Ridder and Knight Ridder Digital are located in San Jose, Calif.