Gannett Co., Inc. (NYSE: GCI) Chairman, President and CEO Craig Dubow and members of the company’s senior management team today reported on various components of the company’s transformation efforts and the current operating environment at a presentation to the Media and Entertainment Analysts of New York.

“The recessionary environment makes it difficult to showcase our efforts to transform Gannett and position us for the future. It makes it tough for us to execute and even tougher for you to gauge our progress,” said Dubow. “Despite these challenges, we are pressing on to position the company for the opportunities we believe will be available as the media landscape continues its evolution and the economy returns.”

Gracia Martore, executive vice president and CFO, commented on the company’s results year-to-date. “We are fundamentally changing the way we produce and distribute our content including clustering, consolidations and logical partnerships. Throughout this process, we have been mindful that the current environment will not last indefinitely. We intend to emerge with a strong balance sheet and operations that are streamlined and flexible.”

The CEO of CareerBuilder, Matt Ferguson, discussed both the current environment and the future for online employment. “While this is a difficult time in the employment market, CareerBuilder is well positioned and poised for future success as the leader in the industry,” he said.

The Webcast of the presentation will be available under “Investor Relations” at www.gannett.com through April 1, 2009. A transcript of the presentation will be archived in the “Investor Relations” section of the company’s Web site.

Also, the company said it began distributing the 2008 Annual Report and proxy statement to shareholders. Both the annual report and the proxy statement are available on its Web site, www.gannett.com.

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 more than 850 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, more than 200 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.

Certain statements in this press release may be forward looking in nature or “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this press release are subject to a number of risks, trends and uncertainties that could cause actual performance to differ materially from these forward looking statements. A number of those risks, trends and uncertainties are discussed in the company’s SEC reports, including the company’s annual report on Form 10-K and quarterly reports on Form 10-Q. Any forward looking statements in this press release should be evaluated in light of these important risk factors.