LEE ENTERPRISES, Inc — Director's Dealing 2004

Nov 23, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEE ENTERPRISES INC (LEE ENT)
CIK: 0000058361
Period of Report: 2004-11-19

Reporting Person: JUNCK MARY E (Director, Officer, Chairman, Pres. & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-19	Common Stock	D	35000	—	Disposed	87711	Direct
2004-11-19	Common Stock	A	35000	$47.64	Acquired	122711	Direct
2004-11-19	Common Stock	D	40000	—	Disposed	82711	Direct
2004-11-19	Common Stock	A	40000	$47.64	Acquired	122711	Direct
2004-11-19	Common Stock	A	7500	$47.64	Acquired	130211	Direct
2004-11-19	Common Stock	A	41000	$47.64	Acquired	171211	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-13	Employee Stock Option (Right to Buy)	$28.9375	M	18750	Acquired	2009-05-10	Common Stock (25000)	Direct
2003-11-13	Employee Stock Option (Right to Buy)	$25.938	M	15171	Acquired	2010-11-14	Common Stock (30000)	Direct
2003-11-14	Employee Stock Option (Right to Buy)	$35.46	M	74375	Acquired	2011-11-14	Common Stock (74375)	Direct
2002-11-13	Employee Stock Option (Right to Buy)	$32.49	A	80000	Acquired	2012-11-12	Common Stock (80000)	Direct
2003-11-12	Employee Stock Option (Right to Buy)	$43.25	A	50000	Acquired	2013-11-12	Common Stock (50000)	Direct
2004-11-19	Employee Stock Option (Right to Buy)	$47.64	A	50000	Acquired	2014-11-18	Common Stock (50000)	Direct

Footnotes

F1: Cancellation of Reporting Person's previously issued restricted stock in accordance with Section 16b-3(d) of the Exchange
Act, in consideration of the grants of restricted stock subject to the vesting restrictions referred to in Footnote 2.

F2: Award of restricted stock in accordance with Section 16b-3(d) of the Exchange Act containing vesting restrictions with
target amounts of restricted stock, subject to an increase or reduction in share amounts, based upon achievement of
performance goals established by the Issuer's Executive Compensation Committee under the Issuer's Incentive Compensation
Program.

F3: Award of restricted stock in accordance with Section 16b-3(d) in consideration of the cancellation of the restricted stock
referred to in Footnote 1, subject to the same vesting restrictions and adjustment provisions referred to in Footnote 2.

F4: These securities are exercisable as follows: 30% upon the first anniversary date of the grant; 60% upon the second
anniversary date of the grant; and 100% upon the third anniversary date of the grant.