Central Newspapers to Split Stock 2-FOR-1; Declares Regular Quarterly Dividends to Mark 50th Consecutive Year of Cash Dividend Payments.

PHOENIX, Ariz.--(BUSINESS WIRE)--Dec. 8, 1998--The board of directors of Central Newspapers, Inc. declared a two-for-one split of the Class A and Class B common stock. The board also declared the regular quarterly dividend (pre-split) of $.24 per share on its Class A common stock and $.024 on its Class B common stock, Louis A. Weil III, president and chief executive officer, announced today.

The stock dividend and cash dividend will be distributed on January 8, 1999 to holders of record of Class A and Class B common stock as of the close of business on December 18, 1998.

The payment of the cash dividend will mark the 50th consecutive year Central Newspapers has paid cash dividends to it shareholders. Central has been a publicly-owned company since 1989, but has paid dividends without interruption since 1949.

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.