Central Newspapers Reports Revenues for Four Weeks Ended November 22, 1998.

PHOENIX--(BUSINESS WIRE)-- Dec. 10, 1998--Central Newspapers, Inc. today announced an increase of 3.7% in revenues for the four weeks ended November 22, 1998, compared with the four weeks ended November 23, 1997. Advertising revenue increased 3.3% and circulation revenue was up 2.2%. -0-

                             Revenue             % of
                         (In Thousands)         Change
                            Unaudited            From
                          1998      1997      Prior Year

      Current period     $61,302   $59,128      +3.7%

        Year-to-Date    $676,781  $643,119      +5.2%

Central Newspapers is a media and information company involved primarily in newspaper publishing and related businesses. Its largest operations include The Arizona Republic and The Indianapolis Star & News. Central Newspapers' stock is traded on the New York Stock Exchange under the ticker symbol ECP.

Except for historical information, this news release contains forward-looking statements that involve risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein. These risks and uncertainties include, but are not limited to, economic weakness in the company's geographic markets; weakness in retail and/or classified advertising; declines in circulation; fluctuations in the price of newsprint; increases in distribution and production costs over anticipated levels; the negative impact of labor agreement issues, and the emergence of new competitors.

PERIOD REVENUE AND STATISTICAL REPORT
(Unaudited)


                  Four Weeks Ended            Forty-seven weeks ended
                Nov. 22,  Nov. 23,    %       Nov. 22,  Nov. 23,  %
                 1998     1997     Change      1998      1997   Change

CONSOLIDATED REVENUES - NET:
 (in thousands)
  Advertising   $46,595    $45,102   3.3%    $503,545  $485,028   3.8%
  Circulation    11,651     11,397   2.2%     135,601   129,127   5.0%
  Other           3,056      2,629  16.3%      37,635    28,964  29.9%
    Total       $61,302    $59,128   3.7%    $676,781  $643,119   5.2%

AVERAGE PAID CIRCULATION:
   Phoenix:
    Daily (1)   474,386    478,103  -0.8%     465,740   457,984   1.7%
    Sunday      606,051    606,374  -0.1%     584,172   581,691   0.4%

   Indianapolis:
    Morning     222,502    231,969  -4.1%     231,862   226,492   2.4%
    Evening      33,304     37,952 -12.2%      35,766    41,428 -13.7%
    Sunday      384,776    389,198  -1.1%     391,353   392,233  -0.2%


ADVERTISING LINAGE FOR MAJOR DAILIES: (2)
 (Thousands of inches)
   Full run ROP:
     Retail       231.5       231.1   0.2%    2,401.1   2,318.1   3.6%
     National      42.0        44.0  -4.6%      414.2     411.9   0.6%
     Classified   243.5       244.6  -0.5%    2,863.3   2,848.6   0.5%
       Total      517.0       519.7  -0.5%    5,678.6   5,578.6   1.8%

   Part run ROP   132.6       132.7   0.0%    1,367.3   1,295.3   5.6%

FULL RUN LINAGE FOR MAJOR MARKETS:
     Phoenix (2)  235.3       239.2  -1.6%    2,597.2   2,539.5   2.3%
     Indianapolis 281.7       280.5   0.4%    3,081.4   3,039.1   1.4%
       Total      517.0       519.7  -0.5%    5,678.6   5,578.6   1.8%

NUMBER OF PREPRINTS
  DISTRIBUTED       561         501  12.0%      5,278     4,998   5.6%

(1)  Phoenix Newspapers, Inc. ceased publication of its evening paper,
     The Phoenix Gazette, in January 1997. Daily circulation includes
     combined morning and evening circulation for the prior year.

(2)  For comparability, linage statistics have been adjusted to
     exclude The Phoenix Gazette for the prior year.