1. March 2006 Publisher’s Statement Circulation Update

2. 2006 March ABC Publisher’s Statement Update Agenda Los Angeles Times 2006 Circulation Strategy Total Circulation Managed Reduction in Other Paid Growth in Individually Paid Readership Strength and Growth Additional ways to connect to the LAT community Appendix: Key ABC Circulation Categories

3. Los Angeles Times Ongoing Circulation Strategy Decrease Other Paid circulation Reinvest in Individually Paid circulation While a managed reduction of Other Paid circulation causes a drop in total circulation, for you, the advertiser, it means access to a higher-quality audience of readers willing to pay for Los Angeles Times content. Higher Composition of Individually Paid circulation Strong weekend circulation

4. March 2006 Publisher’s Statement While total circulation has decreased, Individually Paid is actually on the rise, which means that the newspaper is getting more valuable to readers.

5. As expected, managed reductions of Other Paid circulation pushed Total Paid circulation down 5.4% daily and 1.8% Sunday. Total Paid

6. We have discontinued Hotel Guest distribution (November 2005), and scaled-back our classroom T.I.E. programs (January 2006). Circulation of less value to advertisers has been decreased in the interest of higher-value circulation Other Paid

7. Growth in Individually Paid Circulation A growth in home-delivered circulation delivers greater reach to subscribers who are most responsive to Los Angeles Times content Increases in Individually Paid circulation are driven by home-delivered circulation, especially from expansion of our Three-Day (Friday/Saturday/Sunday) service in 2005. Individually Paid

8. Home Delivery now represents an even greater composition of total circulation. Home Delivery as Percent of Total Circulation +6%points+3%points 2005200620052006 Monday–FridaySunday 63% 69% 72% 75% Greater composition of the most responsive subscribers who pay to receive the Los Angeles Times at home Individually Paid

9. A greater composition of Individually Paid circulation delivers greater advertising efficiency. Individually Paid as Percent of Total Circulation +5%points+2%points 2005200620052006 Monday–FridaySunday 86% 91% 96% 98%

10. Strong end-of-week and weekend subscriptions Friday benefited from the 3-day circulation program. Weekday volume changes are largely attributed to shifts in bonus day distribution from Thursdays and Saturdays to Mondays and Tuesdays. The shift was made to reinforce weekend subscriber loyalty, and increase subscriber exposure to the weekday product. *September 2005 Publisher’s Statement; day of the week figures were not reported prior to this report Individually Paid--Day of Week

11. Weekday volume changes are largely attributed to shifts in bonus day distribution from Thursdays and Saturdays to Mondays and Tuesdays. The shift was made to reinforce weekend subscriber loyalty, and increase subscriber exposure to the weekday product. In addition, all days reflect managed decreases due to elimination of the Hotel Program and reduction in the Education Program (TIE). *September 2005 Publisher’s Statement; day of the week figures were not reported prior to this report Total Paid

12. Readership Strength and Growth

13. Source: Scarborough Research 2005 R1 and 2006 R1, NADbase Spring 2006 Release, MRI 2005 Doublebase. The Los Angeles Times and Latimes.com together reach more than 4.9 million in the L.A. DMA. Sunday readership (05-06) of the most affluent (HHI $100,000+) grew 13%. 2005 2006 927,886 1,045,812 +13% Change The combined reach of the Los Angeles Times and Latimes.com is greater than any other media vehicle in the marketplace, including all radio stations during a.m. drive time, all broadcast TV stations during ½ hour of prime time, all magazines, and all other Sunday newspapers combined. Total Times Readership Monday–Friday Sunday 2,176,204 3,281,209 4,974,943 Total LAT + Latimes.com

14. Source: Scarborough Research 2005 R1 and 2006 R1 The Los Angeles Times DAILY readership is growing dramatically in the Inland Empire and Ventura County. 2005 2006 79,987108,591 +36% Change 2005 2006 110,041137,941 +25% Change 2005 2006 76,92886,768 +13% Change Riverside County- Daily San Bernardino County- Daily Ventura County- Daily

15. Source: Scarborough Research 2005 R1 and 2006 R1 2005 2006 152,269170,355 +12% Change 2005 2006 191,564210,253 +10% Change 2005 2006 115,335119,336 +4% Change Riverside County- Sunday San Bernardino County- Sunday Ventura County- Sunday The Los Angeles Times SUNDAY readership is growing dramatically in the Inland Empire and Ventura County.

16. Additional, new ways to connect with the Los Angeles Times community and extend your reach Los Angeles Times products combined -- including print, online and direct mail -- reach a total of 7.7 million, or 59%, of all adults in the LA DMA. Source: Gallup 2005

17. New opportunities to extend your reach www.latimes.com With 3.7 million registered users, latimes.com is the ultimate Web destination for Angelenos West Magazine  New Sunday magazine with a distinctly Californian focus featuring articles and fiction from award-winning contributors, bold photography and a cutting-edge Style section  West will reach 3.28 million people, making it one of the most widely read magazines in the L.A. DMA TheEnvelope.com Now available in print The only web site devoted entirely to entertainment awards now includes an in-paper component LAT 125 th Anniversary opportunities in paper and online –Special commemorative sections on readers’ favorite topics (e.g. 125 years of Sports) –Latimes.com/125: a special web site with ongoing coverage of the most entertaining historical stories that shaped the city

18. Summary 2006 Circulation & Readership Outlook Through a higher composition of quality Individually Paid subscribers and strong weekend readership, the Los Angeles Times delivers more customers who want and pay to read our editorial and your advertising. The Times is the leader in L.A. DMA readership, providing unmatched reach to the largest number of customers. The Sunday Times has the broadest reach of ANY competing media vehicle. Reach the Los Angeles Times community through new high-impact and relevant opportunities: a compelling new Sunday magazine, 125 th anniversary celebrations, and exclusive in paper and online content your customers won’t find in a competing media vehicle.

19. Appendix: Key ABC Circulation Categories Total Average Paid circulation:The total top-line average circulation number Individually Paid: Copies directly purchased by individuals Home delivery: Copies delivered to individual subscribers at home Single-copy sales: Copies purchased at the newsstand Weekend: Copies delivered to individual subscribers on weekends only Other Paid: Copies that are not directly purchased by individuals Hotel/guest single copies: Copies paid for by hotel guests as part of their bill Newspapers in education: Copies distributed in schools for classroom use Employee copies: Copies given to current and retired newspaper employees Third-party sales: Copies purchased in bulk by hotels, restaurants and retail stores, distributed free to guests and customers Higher Individually Paid circulation shows greater “wantedness” of product.