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JOHN S. AND JAMES L. KNIGHT FOUNDATION RECEIVES $100 MILLION FROM JAMES L. KNIGHT TRUST

 MIAMI, March 29 /PRNewswire/ -- The John S. and James L. Knight Foundation today received 1,743,923 shares of Knight-Ridder, Inc. (NYSE: KRI) common stock valued at approximately $100 million from the James L. Knight trust. The shares in the trust represent a partial distribution of Mr. Knight's estate.
 James L. Knight, who died in February 1991, was one of the founders of Knight-Ridder, Inc., the Miami-based international communications company that publishes 29 daily newspapers in the United States. His will provided that a significant share of his estate be given to Knight Foundation.
 Today's partial distribution of the Knight estate brings Knight Foundation's assets up to about $740 million, making it one of the nation's 25 largest private foundations. It is not known when the Knight estate -- estimated to exceed $200 million -- will be settled or when the final distribution will be made.
 The Knight brothers established the Foundation in 1950. John S. Knight, James L. Knight's older brother, served as chairman of the Foundation from 1950 to his death in 1981. He left to the Foundation most of his newspaper company holdings. That bequest totaled more than $428 million. James L. Knight succeeded his brother as chairman, serving until his death in February 1991.
 The Foundation makes national grants in journalism, education and the field of arts and culture. It also supports organizations in 26 communities where the Knight brothers were involved in publishing newspapers but is wholly separate from and independent of those newspapers.
 Since it was established in 1950, Knight Foundation has paid out more than $167 million in grants, including $29 million in 1992.
 -0- 3/29/93
 /CONTACT: Timothy J. Crowe, vice president and chief financial officer, 305-539-0009, or Virginia Henke, communications director, 305-539-2610, both of the John S. and James L. Knight Foundation/
 (KRI)


CO: John S. and James L. Knight Foundation; Knight-Ridder, Inc. ST: Florida IN: PUB SU:

AW-JB -- FL007 -- 0799 03/29/93 22:00 EST
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Date:Mar 29, 1993
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