LEE ENTERPRISES, Inc — Director's Dealing 2004

Nov 17, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEE ENTERPRISES INC (LEE ENT)
CIK: 0000058361
Period of Report: 2004-11-15

Reporting Person: PHELPS MICHAEL E (Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-15	Common Stock	F	519	$47.63	Disposed	10231	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-14	Employee Stock Option (Right to Buy)	$25.9380	M	7500	Disposed	2010-11-14	Common Stock (10000)	Direct
2001-11-14	Employee Stock Option (Right to Buy)	$35.46	A	15000	Acquired	2011-11-14	Common Stock (15000)	Direct
2002-11-13	Employee Stock Option (Right to Buy)	$32.49	A	15000	Acquired	2012-11-13	Common Stock (15000)	Direct
2003-11-12	Employee Stock Option (Right to Buy)	$43.25	A	9000	Acquired	2013-11-12	Common Stock (9000)	Direct
2003-11-14	Employee Stock Option (Right to Buy)	$42.88	A	396	Acquired	2010-03-06	Common Stock (396)	Direct
2003-11-14	Employee Stock Option (Right to Buy)	$42.88	A	1512	Acquired	2010-11-13	Common Stock (1512)	Direct

Footnotes

F1: Includes 351 shares acquired under the Issuer's ESPP through payroll deduction and dividend reinvestment, since the filing of
Reporting Person's last Form 4.

F2: 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.