Reconciliation of GAAP Revenues to Reconciliation of GAAP Revenues to PRO FORMA Revenues PRO FORMA Revenues

Eleven months ended November 26, 2006 Eleven months ended November 26, 2006 (in thousands)(in thousands)

As As ReportedReported

First Half 2006First Half 2006Retained Retained

KR NewspapersKR Newspapers

AdvertisingAdvertising

Revenues – NetRevenues – Net

$1,504,093$1,504,093

CirculationCirculation 225,899225,899

OtherOther

Total RevenuesTotal Revenues

Pro FormaPro Forma

46,50346,503

$1,776,495$1,776,495 $ 825,711$ 825,711 $2,602,206$2,602,206

$ 698,570$ 698,570

100,405100,405

26,73626,736

$2,202,663$2,202,663

326,304326,304

73,23973,239