Hollinger Inc.

Hollinger Inc.

March 11, 2005 15:46 ET

Hollinger Inc.: Ontario Securities Commission Considering Administrative Proceedings


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HOLLINGER INC.

TSX SYMBOL: HLG.C
TSX SYMBOL: HLG.PR.B

MARCH 11, 2005 - 15:46 ET

Hollinger Inc.: Ontario Securities Commission
Considering Administrative Proceedings

TORONTO, ONTARIO--(CCNMatthews - March 11, 2005) - Hollinger Inc.
(TSX:HLG.C)(TSX:HLG.PR.B) announced today that it had received a notice
from Staff of the Ontario Securities Commission to the effect that they
are contemplating commencing administrative proceedings before the
Commission to consider whether Hollinger historically has engaged in
conduct which warrants the Commission making an order in the public
interest. The alleged conduct of Hollinger does not relate to the
pending going private transaction scheduled to be considered by
shareholders on March 31, 2005.

The Staff has invited Hollinger to respond to the notice and to provide
information and reasons why Commission Staff should not commence these
proceedings. Hollinger, through its lawyers, intends to provide a
response in the near future setting out the reasons why proceedings
against it would be contrary to the public interest in this case.

Hollinger's principal asset is its interest in Hollinger International
Inc. which is a newspaper publisher, the assets of which include the
Chicago Sun-Times, a large number of community newspapers in the Chicago
area and a portfolio of news media investments. Hollinger also owns a
portfolio of revenue-producing and other commercial real estate in
Canada, including its head office building located at 10 Toronto Street,
Toronto, Ontario.

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