CHICAGO, May 7, 1998 - Classified Ventures and Knight Ridder today announced that Knight Ridder has joined the strong industry enterprise developed to deliver the deepest, broadest information about real estate sales and rentals and about automobile purchasing and leasing to consumers across the nation.

Knight Ridder New Media - a pioneer in Web publishing - will contribute to Classified Ventures' online services classified advertising listings from Knight Ridder's 31 daily newspapers, proven Internet technology experience, award-winning news and reviews, long-standing advertising relationships and value-added information content, including a series of Web sites for cars and homes.

"With the addition of Knight Ridder, Classified Ventures now has truly national coverage in localized online classified advertising," said Tim Landon, Classified Ventures' chief executive officer. "We have an unmatched ability to offer readers and Internet users in eight of the nation's 10 largest markets and beyond the most extensive print and online classified listings and services in their communities."

Said Tony Ridder, chairman and chief executive officer of Knight Ridder: "We are moving forward together with a united vision and business philosophy. Classified Ventures represents the best opportunity for American newspapers to maintain and strengthen their position as the leading source of classified advertising and information, in print and online."

Knight Ridder New Media, which has won several awards for its cutting-edge Web services, brings to Classified Ventures a host of Internet technologies and products, including HomeHunter.com, one of the most widely used home-for-sale listing and information sites. Knight Ridder will adopt the Classified Ventures products in autos and apartments, while Classified Ventures will adopt Knight Ridder's HomeHunter product in real estate. These sites will provide consumers the most comprehensive listings of products for sale in their local markets, along with related information and resources, such as decision-support tools.

With the addition of Knight Ridder, Classified Ventures now has a network of 42 daily newspapers, reaching 19.2 million readers daily - 26.8 million on Sundays. In Classified Ventures, Knight Ridder joins The Times Mirror Company, Tribune Company and The Washington Post Company, which have media properties that include radio and TV stations in 11 of the top 30 markets in the United States.

The company's strategy is to build on newspapers' existing inventory of classified listings and respected local editorial content as well as their long-standing relationships with auto dealers, home builders, real estate professionals, property managers and providers of related information and services for consumers. Classified Ventures currently operates the national Apartments.com web site and is developing its cars.com automotive site. A prototype of cars.com is available at www.cars.com.

"Classified Ventures recognizes that the best way to win nationally is to win locally," said Bob Ingle, president, Knight Ridder New Media. "The unification of so many publishers with strong local brands behind a common national brand gives us a tremendous advantage against competitors from outside the newspaper industry."

Knight Ridder is the nation's second largest newspaper publisher, with products in print and online. The company publishes 31 daily newspapers in 28 U.S. markets, reaching 9 million readers daily and 12.6 million on Sunday. Knight Ridder New Media, located in San Jose, is a division of Knight Ridder and maintains 40 web sites and Internet products in the Real Cities network.

Classified Ventures, based in Chicago, is a company funded by four leading media companies - Knight Ridder, The Times Mirror Company, Tribune Company and The Washington Post Company. Collectively, these companies own 42 newspapers, 15 magazines, 22 television stations and 4 radio stations across the country. Together, the four affiliates have a daily circulation of 8 million, reaching 19.2 million readers each day.