Hollinger Inc.

Hollinger Inc.

March 14, 2005 21:05 ET

Hollinger Inc.:Press Release


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: HOLLINGER INC.

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

MARCH 14, 2005 - 21:05 ET

Hollinger Inc.:Press Release

TORONTO, ONTARIO--(CCNMatthews - March 14, 2005) - Hollinger Inc.
("Hollinger") (TSX:HLG.C)(TSX:HLG.PR.B) announced today that it has
received correspondence from counsel purporting to represent a majority
of the aggregate principal amount of Hollinger's outstanding 11.875%
Senior Secured Notes in which such counsel has taken the position that
the proceeds of the special dividends received by Hollinger from
Hollinger International Inc. on January 18, 2005 and March 1, 2005 must
be delivered to the collateral trustee for such Notes as collateral for
the Notes. In such correspondence, counsel seeks to have Hollinger set
aside the dividend proceeds pending resolution of the status of such
proceeds. As previously disclosed, Hollinger has determined that none of
the dividend proceeds are required to be lodged as collateral security
for the Notes.

Hollinger also announced today that the Hon. Blanche M. Manning of the
United States District Court, Northern District of Illinois, Eastern
Division has denied Hollinger's motion to dismiss the Second Amended
Complaint filed by Hollinger International Inc. against Hollinger and
others in Illinois.

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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