TO BUSINESS EDITOR:

SACRAMENTO, Calif., Feb. 19 /PRNewswire-FirstCall/ -- The McClatchy Company (NYSE: MNI) today reported that consolidated advertising revenues in January 2004 increased 4.6% and total revenues increased 3.6%. Revenues include the results of the Merced Sun-Star and nearby weeklies from January 7, 2004 forward. Excluding these results, advertising revenues were up 3.6% and total revenue increased 2.6%.

Advertising revenue performance at the Company's newspapers is summarized by region in McClatchy's statistical report that follows. The following table summarizes the growth in our more significant categories of advertising revenues in January 2004 (excluding new acquisitions):

                                    January 2004
                                   Percent Change
    Retail                               2.1
    National                             7.7
    Classified Total                     0.9
     Auto                                3.5
     Real Estate                         8.5
     Employment                         (3.9)
     Online                             52.7
     Direct Marketing                    5.6
    Total Advertising                    3.6

Most of the Company's online advertising is in the classified categories. On a combined basis, print and online classified advertising increased 4.2% versus 0.9% from print classified only. Employment classified advertising on a combined basis increased 4.0% versus -3.9% from print only.

The McClatchy Company, headquartered in Sacramento, California, is a leading newspaper and Internet publisher. It publishes 12 daily and 18 non-daily newspapers located in western coastal states, North and South Carolina and the Twin Cities of Minneapolis/St. Paul. McClatchy has daily circulation of 1.39 million and Sunday circulation of 1.82 million. McClatchy's newspapers include, among others, the Star Tribune in Minneapolis, The Sacramento Bee, The Fresno Bee and The Modesto Bee in California, The News & Observer (Raleigh, NC), The News Tribune (Tacoma, WA) and the Anchorage Daily News.

McClatchy also publishes leading local websites in each of its daily newspaper markets, offering users information, comprehensive news, advertising, e-commerce and other services, and owns and operates Nando Media, an interactive media operation that provides newspapers with content, publishing tools and software development. McClatchy is listed on the New York Stock Exchange under the symbol MNI.

                            The McClatchy Company
                       Consolidated Statistical Report
             (In thousands, except for preprints and page views)

                                                          Period  1

    Revenues - Net: *                           2004        2003    % Change
     Advertising
      Minneapolis                            $26,216     $25,298       3.6%
      California                              30,252      28,122       7.6%
      Carolinas                               12,588      12,239       2.9%
      Northwest                               10,906      10,799       1.0%
    Total Advertising                        $79,962     $76,458       4.6%

    Circulation                               15,758      15,887      -0.8%
    Other                                      1,859       1,775       4.7%
      Total Newspapers                       $97,579     $94,120       3.7%

    Non-Newspapers                                68         135     -49.6%
      Total Revenue                          $97,647     $94,255       3.6%

* Revenues in 2003 are re-classified to report continuing operations only.

Average Paid Circulation: Daily 1,392.9 1,381.9 0.8% Sunday 1,824.2 1,846.1 -1.2% Community Newspapers 68.3 62.0 10.2%

Online: (Monthly) Millions of Page Views** 101.4 110.2 -8.0%

      ** Page Views have been restated to remove discontinued products.

    Advertising Linage for Dailies:
     Full Run ROP
      Retail                                   449.2       451.0      -0.4%
      National                                  98.0        90.6       8.2%
      Classified                               673.9       651.3       3.5%
       Total                                 1,221.1     1,192.9       2.4%

     Millions of Preprints Distributed         272.1       257.8       5.5%

    Full Run ROP Linage by Market for Dailies:

    California:
     The Sacramento Bee                        224.3       214.1       4.8%
     The Fresno Bee                            113.9       109.9       3.6%
     The Modesto Bee                           106.3       101.8       4.4%
     Merced Sun-Star                            37.5         0.0       0.0%

    Star Tribune, Minneapolis                  156.6       163.2      -4.0%

    Northwest:
     The News Tribune, Tacoma                  112.8       118.1      -4.5%
     Anchorage Daily News                       72.7        76.6      -5.1%
     Tri-City Herald                            63.0        58.8       7.1%

    Carolinas:
     The News & Observer, Raleigh              162.5       179.0      -9.2%
     South Carolina Dailies                    171.5       171.4       0.1%
       Total                                 1,221.1     1,192.9       2.4%

Data in 2004 includes the Merced Sun-Star and related community newspapers, purchased on February 7, 2004.

SOURCE  The McClatchy Company