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: Gulledge Michael R (Vice-President-Publishing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-11-18	Common Stock	F	876	$1.52	Disposed	28075	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2000-11-14	Employee Stock Option (Right to Buy)	$25.94	A	2250	Acquired	2010-11-14	Common Stock (2250)	Direct
2001-11-14	Employee Stock Option (Right to Buy)	$35.46	A	3000	Acquired	2011-11-14	Common Stock (3000)	Direct
2002-11-13	Employee Stock Option (Right to Buy)	$32.49	A	3500	Acquired	2012-11-13	Common Stock (3500)	Direct
2003-11-12	Employee Stock Option (Right to Buy)	$43.25	A	3600	Acquired	2013-11-12	Common Stock (3600)	Direct
2004-11-19	Employee Stock Option (Right to Buy)	$47.64	A	3420	Acquired	2014-11-19	Common Stock (3420)	Direct
2005-11-18	Employee Stock Option (Right to Buy)	$39.60	A	4630	Acquired	2015-11-18	Common Stock (4630)	Direct
2006-11-14	Employee Stock Option (Right to Buy)	$28.72	A	10410	Acquired	2016-11-14	Common Stock (10410)	Direct

Footnotes

F1: Includes shares purchased through Issuer's dividend reinvestment program, 566 shares purchased 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.