Morris Publishing Enters Restructuring Support Agreement With Group of Bondholders

Morris Publishing Enters Restructuring Support Agreement With Group of
Bondholders

AUGUSTA, Ga., Nov. 2 /PRNewswire/ -- Morris Publishing Group, LLC announced
that it has agreed to the terms of a definitive restructuring support
agreement with the holders of over seventy percent of the outstanding $278.5
million aggregate principal amount of Morris Publishing's 7% Senior
Subordinated Notes Due 2013 (the "Existing Notes"). Under the agreement,
Morris Publishing will launch an exchange offer to all holders of Existing
Notes to surrender their Existing Notes, including accrued interest, in
exchange for $100 million of new second lien secured notes due in 2014 (the
"New Notes"). The New Notes will bear interest of at least 10%, but could bear
interest up to 15%, some of which may be paid-in-kind (PIK), until Morris
Publishing repays its remaining senior debt.

If the exchange offer is not accepted by holders of at least 99% of the
aggregate principal amount of Existing Notes, then Morris Publishing has
agreed to file a pre-packaged bankruptcy plan for the exchange of New Notes
for the Existing Notes. Simultaneously with the exchange offer, Morris
Publishing will solicit consents from the holders of Existing Notes for the
pre-packaged bankruptcy plan.

Holders of over seventy percent of the outstanding principal amount of
Existing Notes have agreed to support the exchange offer and the pre-packaged
bankruptcy plan. Upon the exchange, $110 million of Morris Publishing's
existing $136.5 million in senior debt will be satisfied or contributed to
capital by affiliates of Morris Publishing.

Morris Publishing
Morris Publishing Group, LLC is a privately held media company based in
Augusta, Ga. Morris Publishing currently owns and operates 13 daily newspapers
as well as nondaily newspapers, city magazines and free community publications
in the Southeast, Midwest, Southwest and Alaska. For more information, visit
Morris Publishing's Web site, morrisrestructures.com.

SOURCE Morris Publishing Group, LLC

Media Contacts for Morris Publishing Group: Sandra Sternberg,
+1-310-788-2850, or Dave Satterfield, +1-408-802-6767, both of Sitrick And
Company; Morris Publishing Group Contact: Craig S. Mitchell, Senior Vice
President of Finance of Morris Communications Company, LLC, +1-706-823-3236