Hollinger Inc. - Southam Bid Expired - Number Of Shares Tendered.

TORONTO--(BUSINESS WIRE)--July 7, 1997-- Hollinger Inc.(TSE, ME, VSE HLG., NASDAQ HLGRF.) Hollinger Canadian P(TSE, ME, VSE HLG., NASDAQ HLGRF. ) Hollinger Internatio(NYSE HLR ) Hollinger Canadian Publishing Holdings Inc. ("Hollinger Canadian") and its affiliates, Hollinger Inc. ("Hollinger") (TSE, ME, VSE - HLG; NASDAQ - HLGRF) and Hollinger International Inc. ("Hollinger International") (NYSE - HLR), announce that at the expiry today of its offer to shareholders of Southam Inc. ("Southam") to acquire all of the common shares of Southam not presently controlled by the Hollinger group, approximately 6,545,000 Southam common shares had been deposited under the offer and not withdrawn. Hollinger Canadian intends to take up such shares on July 17, 1997 and pay for such shares on July 18, 1997. As a result, the Hollinger group's ownership interest in Southam will increase to approximately 45,685,000 common shares, or approximately 58.6 per cent of the outstanding common shares.

Hollinger is a Canadian-based international newspaper company that, directly and through its subsidiaries and associated companies, is engaged primarily in the publishing, printing and distribution of newspapers and magazines in the United Kingdom, the United States, Canada and Israel. Hollinger holds 51.2 percent of the equity shares and 77.7 percent of the voting power in Hollinger International.

Hollinger International, through its subsidiaries and affiliated companies, is a leading publisher of English-language newspapers in the United States, the United Kingdom, Canada and Israel. Included among the 163 paid daily newspapers that the company wholly owns or has an interest in are the Chicago Sun-Times, The Daily Telegraph (London) and the The Ottawa Citizen. These 163 newspapers have a world-wide daily combined circulation of approximately 4,451,000. In addition, the company owns or has an interest in 441 non-daily newspapers as well as magazines and other publications.

Hollinger Canadian currently owns a 50.45 percent equity interest in Southam and all of the Hollinger group's Canadian newspapers which include publications in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Prince Edward Island.

CONTACT: Hollinger Inc.

J. A. Boultbee, 416/ 363-8721

or

Hollinger International Inc.

J. A. Boultbee, 416/ 363-8721

or

Hollinger Canadian Publishing Holdings Inc.

J. A. Boultbee, 416/ 363-8721

or

Hollinger Inc.

Peter Y. Atkinson, 416/ 363-8721

or

Hollinger Canadian Publishing Holdings Inc.

Peter Y. Atkinson, 416/ 363-8721

or

Hollinger International Inc.

Peter Y. Atkinson, 416/ 363-8721