LEE ENTERPRISES, Inc — Director's Dealing 2004

May 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEE ENTERPRISES INC (LEE ENT)
CIK: 0000058361
Period of Report: 2004-05-03

Reporting Person: SCHMIDT CARL G (Officer, Vice Pres.,CFO&Treas.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-03	Common Stock	M	20000	$31.06	Acquired	31301	Direct
2004-05-03	Common Stock	F	2400	$47.18	Disposed	28901	Direct
2004-05-03	Common Stock	S	1500	$47.75	Disposed	27401	Direct
2004-05-03	Common Stock	S	300	$47.60	Disposed	27101	Direct
2004-05-03	Common Stock	S	400	$47.43	Disposed	26701	Direct
2004-05-03	Common Stock	S	100	$47.42	Disposed	26601	Direct
2004-05-03	Common Stock	S	400	$47.41	Disposed	26201	Direct
2004-05-03	Common Stock	S	200	$47.38	Disposed	26001	Direct
2004-05-03	Common Stock	S	300	$47.37	Disposed	25701	Direct
2004-05-03	Common Stock	S	100	$47.31	Disposed	25601	Direct
2004-05-03	Common Stock	S	300	$47.29	Disposed	25301	Direct
2004-05-03	Common Stock	S	200	$47.27	Disposed	25101	Direct
2004-05-03	Common Stock	S	100	$47.21	Disposed	25001	Direct
2004-05-03	Common Stock	S	100	$47.20	Disposed	24901	Direct
2004-05-03	Common Stock	S	100	$47.15	Disposed	24801	Direct
2004-05-03	Common Stock	S	700	$47.10	Disposed	24101	Direct
2004-05-03	Common Stock	S	100	$47.09	Disposed	24001	Direct
2004-05-03	Common Stock	S	200	$47.08	Disposed	23801	Direct
2004-05-03	Common Stock	S	100	$47.06	Disposed	23701	Direct
2004-05-03	Common Stock	S	500	$47.05	Disposed	23201	Direct
2004-05-03	Common Stock	S	1200	$47.02	Disposed	22001	Direct
2004-05-03	Common Stock	S	600	$47.01	Disposed	21401	Direct
2004-05-03	Common Stock	S	5100	$47.00	Disposed	16301	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-03	Employee Stock Option (Right to Buy)	$31.06	M	20000	Disposed	2011-05-01	Common Stock (20000)	Direct
2001-11-14	Employee Stock Option (Right to Buy)	$35.46	A	20000	Acquired	2011-11-14	Common Stock (20000)	Direct
2002-11-13	Employee Stock Option (Right to Buy)	$32.49	A	20000	Acquired	2012-11-13	Common Stock (20000)	Direct
2003-11-12	Employee Stock Option (Right to Buy)	$43.25	A	12000	Acquired	2013-11-12	Common Stock (12000)	Direct
2004-05-03	Employee Stock Option (Right to Buy)	$47.18	A	2400	Acquired	2011-04-30	Common Stock (2400)	Direct

Footnotes

F1: Includes 2 additional shares acquired under the Issuer's ESPP through payroll deduction since the filing of the 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.