Hollinger Inc.

Hollinger Inc.

March 28, 2005 13:53 ET

Hollinger Inc.: OSC Decision On Going Private Transaction


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HOLLINGER INC.

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

MARCH 28, 2005 - 13:53 ET

Hollinger Inc.: OSC Decision On Going Private
Transaction

TORONTO, ONTARIO--(CCNMatthews - March 28, 2005) - Hollinger Inc.
("Hollinger") (TSX:HLG.C)(TSX:HLG.PR.B) announced that the Ontario
Securities Commission released its decision today that the Commission
was unable to form the opinion that it would not be prejudicial to the
public interest to grant the relief sought by Hollinger and others in
connection with the proposed share consolidation going private
transaction (the "Going Private Transaction") involving Hollinger. As a
result, the Commission denied granting the requested relief of varying
the Hollinger and Hollinger International Inc. management cease trade
orders.

Hollinger's Board of Directors is currently reviewing the decision to
determine whether or not the special meeting of Hollinger's shareholders
to consider the Going Private Transaction scheduled for Thursday, March
31, 2005 will proceed in the circumstances.

Company Background

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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