Gannett Co., Inc. (GCI) reported today that total pro forma operating revenues for the fifth period ended June 1, 2008 declined 10.9 percent compared with the same period in 2007. For comparison purposes, the exchange rate of the British pound decreased compared to last year. If the exchange rate had remained constant year-over-year, total pro forma operating revenues would have declined 10.7 percent.

Publishing advertising revenues in May were 14.3 percent lower compared with May a year ago. On a constant currency basis, publishing advertising revenues would have been down 14.1 percent.

Retail advertising revenues declined 9.7 percent in the fifth period. In the U.S., across all products, the decline was led by softness in the department stores, furniture, consumer electronics and telecommunications categories.

Classified revenues were down 18.8 percent in the fifth period. On a constant currency basis, classified revenues would have been 18.5 percent lower. Real estate revenues declined 30.9 percent, employment revenues were 23.9 percent lower and automotive revenues were down 13.1 percent. For U.S. Community Publishing, classified revenues were 20.5 percent lower in May reflecting declines of 33.1 percent in real estate revenues, 28.4 percent in employment revenues and 10.1 percent in automotive revenues. Classified revenues at Newsquest, our operations in the UK, were down 14.7 percent, in pounds, as employment revenues were 13.7 percent lower, real estate revenues declined 26.6 percent and automotive revenues were down 21.7 percent. Other classified revenues at Newsquest were 1.2 percent higher.

National advertising revenues for the fifth period were down 15.4 percent. At USA TODAY, advertising revenues were 18.4 percent lower on paid ad pages of 260 versus 324 last year. In the fifth period at USA TODAY, strength in the travel and entertainment categories was offset by softness in the automotive, technology, retail, home and building, financial, advocacy, packaged goods and telecommunications categories.

Broadcasting revenues, which include Captivate, were 5.9 percent lower. Television revenues were down 6.2 percent in the period as local and national revenues declined 6.4 percent and 11.4 percent, respectively. Based on results to date and current pacings, television revenues for the second quarter of 2008 would lag last year’s second quarter in the mid to high single digits.

In addition to the revenue and statistical summary, attached is a chart which shows the consolidated Gannett Online audience share for May from Nielsen//Net Ratings. In May, Gannett’s domestic Web sites had 25.7 million unique visitors reaching approximately 15.4 percent of the Internet audience.

On May 7, 2007, the company completed its sale of the Norwich (CT) Bulletin, the Rockford (IL) Register Star, the Observer-Dispatch in Utica, NY, and The Herald-Dispatch in Huntington, WV. In addition, the Chronicle-Tribune in Marion, IN, was contributed to the Gannett Foundation on May 21, 2007. The revenue and statistical data related to these properties has been excluded from all periods presented.

To conform with current year presentation, the company’s equity share of operating results for 2007 from its newspaper partnerships, including Tucson, which participates in a joint operating agency, the California Newspapers Partnership and the Texas-New Mexico Newspapers Partnership have been reclassified from “Other revenue” and are reflected in a separate line in the Non-Operating section of the Statement of Income titled “Equity income (losses) in unconsolidated investees, net.” Other revenue is now comprised principally of commercial printing revenues and revenue from PointRoll.

Circulation volume numbers for Newsquest’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 a leading international news and information company that publishes 85 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 900 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes nearly 300 titles, including 17 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 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.

Certain statements in this press release may be forward looking in nature or “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this press release are subject to a number of risks, trends and uncertainties that could cause actual performance to differ materially from these forward looking statements. A number of those risks, trends and uncertainties are discussed in the company’s SEC reports, including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward looking statements in this press release should be evaluated in light of these important risk factors.

Gannett is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this press release by wire services, Internet service providers or other media.