Gannett Co., Inc. (NYSE:GCI) today announced that it has commenced a cash tender offer for any and all of its outstanding Floating Rate Notes Due 2009 (CUSIP No. 364725AF8 (the “Notes”)). An Offer to Purchase (the “Offer to Purchase”) dated today sets forth the terms of the tender offer.

The tender offer consideration being offered for the Notes is $950 per $1,000 principal amount of Notes, plus the accrued and unpaid interest on the Notes to, but not including, the date on which the Notes are purchased. The Company will pay for all of the Notes purchased pursuant to the Offer by utilizing our existing credit facilities and available cash. The tender offer will expire at 5:00 p.m., Eastern Standard Time, on December 11, 2008, unless extended. Tendered Notes may be withdrawn prior to, but not after, the expiration date.

The tender offer is conditioned upon the satisfaction of certain customary conditions described in the Offer to Purchase. Subject to applicable law, Gannett may, at its sole discretion, waive any condition applicable to the tender offer and may extend or otherwise amend the tender offer. The tender offer is not conditioned on a minimum amount of Notes being tendered. Under certain conditions and as more fully described in the Offer to Purchase, the Company may terminate the tender offer before the expiration date.

The Company has retained Citigroup Global Markets, Inc. to serve as the dealer manager and has retained Global Bondholder Services Corporation to serve as the information agent for the tender offer. Requests for documents may be directed to Global Bondholder Services Corporation by telephone at (212) 430-3774 or (866) 470-1500, or in writing at 65 Broadway – Suite 723, New York, NY, 10006, Attention: Corporate Actions. Questions regarding the tender offer may be directed to Citigroup at (877) 531-8365.

Neither the Company, its Board of Directors, the information agent nor the dealer manager makes any recommendation as to whether holders of the Notes should tender or refrain from tendering Notes. This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities. The offer is made only by the Offer to Purchase and its related letter of transmittal.

About Gannett

Gannett Co., Inc. is a leading international news and information company that publishes 85 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 900 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes 17 daily paid-for titles, approximately 300 weekly newspapers, magazines and trade publications, and a network of award-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.