LEE ENTERPRISES, Inc — Director's Dealing 2008

Nov 20, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LEE ENTERPRISES, INC (LEE ENT)
CIK: 0000058361
Period of Report: 2008-11-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-11-18	Common Stock	F	3248	$1.52	Disposed	77999	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
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	2012-11-12	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	2011-05-01	Common Stock (2400)	Direct
2004-11-19	Employee Stock Option (Right to Buy)	$47.64	A	9960	Acquired	2014-11-19	Common Stock (9960)	Direct
2005-11-18	Employee Stock Option (Right to Buy)	$39.60	A	13110	Acquired	2015-11-18	Common Stock (13110)	Direct
2006-11-14	Employee Stock Option (Right to Buy)	$28.72	A	27900	Acquired	2016-11-14	Common Stock (27900)	Direct

Footnotes

F1: Includes 1,044 shares purchased through Issuer's ESPP in the fiscal year ended 9/30/2008.

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.

F3: On August 8, 2008, the Reporting Person's outstanding stock options were voluntarily tendered to the Issuer for cancellation
and termination without consideration or promise of consideration pursuant to a Cancellation and Termination Agreement
between the Issuer and the Reporting Person of even date.