In Toronto, the readership results showed that more people are reading the Post exclusively and are spending more time reading the Post on a daily basis. The Post had major gains in upper household income groups for

Monday-Friday readers, with an increase of over 21% in the coveted $100,000+ group. Of significant interest is a 65% increase in Monday-Friday readership of the highly desirable 25-34 year-old readers and a 14% increase among the 50-64 year old demographic. Among these older readers, the Globe and Mail saw a dramatic decline of over 27%.

These figures clearly demonstrate that the Post has implemented the right strategy for continued growth.

"These numbers are a dramatic increase from last year showing that the momentum continues to build," said Douglas Kelly, Editor in Chief, National Post. "It's a testament to the efforts we made to fine-tune our sections and attract writers that speak to our demographic," said Kelly.

"The National Post continues to attract a growing proportion of high quality readers," said Kirk Allen, VP of Advertising. "The increases we experienced in important categories such as personal income, household income and managers and professionals shows that our strategy of focusing on a more targeted circulation is working. I'm delighted with the progress and look forward to future growth and continued success."

In the Toronto market, the NADbank results indicated that the Toronto Star strengthened its lead over the number two newspaper, the Toronto Sun, on the key weekday readership measures. The Toronto Star reaches a total of 984,700 readers every day, compared to 453,300 for the Toronto Sun. In addition, the results show that the Toronto Star is the number one newspaper website destination in the Toronto market with 481,700 visitors to the site each week.

"We are pleased to have sustained our leadership position in the Toronto market. We are proud to have more exclusive readers than all other paid daily newspapers in Toronto combined," said Michael Goldbloom, Publisher, Toronto Star. "These NADbank results demonstrate that an advertiser reaches more readers with one ad in the Toronto Star than with an ad in each of the three other paid dailies combined."

Through both its print and on-line properties, the Toronto Star reaches over 52% of Toronto adults each week.

"In 2005, the Toronto Star continued to make it easier for our readers to access news on thestar.com by removing all registration requirements," continued Mr. Goldbloom. "We are committed to making thestar.com a powerful complement to our newspaper and these results show that this strategy is proving to be a successful way to reach out to readers."

The Globe continues to control the national newspaper market well outpacing the Post, with 60 per cent more weekday readers and virtually double the Saturday readership in the 49 markets where both papers are measured. In Toronto The Globe has an 84 per cent readership advantage weekdays and a 147 per cent lead on Saturdays, and in Vancouver The Globe enjoys a 22 per cent weekday advantage and 45 per cent Saturday advantage.

The Globe enhanced its B.C. edition with a daily B.C. section, a weekly feature on B.C. Real Estate, and a Vancouver edition of the popular 7 entertainment section every Friday, and the result has been 29 per cent year- over-year weekday readership growth in Vancouver.

"The Globe continues to buck the national trend by holding steady on readership," said Phillip Crawley, Publisher and CEO, The Globe and Mail. "And we continue to dominate the national landscape while our investments in key markets like Vancouver have paid off with good readership gains."

The Globe is also unsurpassed in reach to the most desirable national readership - high income, high education, and managers, owners and professionals. Across Canada, The Globe reaches more Senior Managers/Professionals and persons earning $75,000 or more annually than any other paper.

Entertaining, edgy, but most importantly, packed with great content that delivers viewers something new each and every week, Torrent's music, graphics, set, and shooting style reflects all things cutting-edge technology. Segments are pulled from popular podcasts that are already produced online whether it's Darren (Hak5*) from Virginia showing viewers how to turn a cell phone into a megaphone or Jeff from Halifax (cN*) interviewing hip-hop band Universal Soul about how to make digital music.

As host and co-producer of Torrent, Amber MacArthur draws on her experience as both host and producer of podcasts video/commandN.tv and audio/Inside the Net - twit.tv and as co host and co producer of G4techTV Canada's Call for Help and Gadgets & Gizmos.

The first episode features Amber on the grounds of the Austin, Texas South by Southwest music festival which attracts heavyweight artists like Neil Young, The Beastie Boys and Morrissey. Amber will introduce the best video podcasters from around the globe while she's in the centre of the interactive portion of the festival which features cutting-edge technologies from the world's hottest bloggers, podcasters, new media entrepreneurs and designers. Other features of the episode include a geek tour of Electric Town in Tokyo and a live podcast from a plane en route to Hawaii.

Future episodes include tips on how to produce audio and video effectively, a tour of the CommandN editing suite, a tour of a computer motherboard courtesy of G4techTV's Call for Help contributor Sean Carruthers and alumni Andy Walker and a demo of ways to hack RSS into your morning routine with a custom alarm clock and newspaper. The show wraps up with tips from Amber on downloading podcasts from the Net via iTunes.

Viewers can take part in the show by sending in their own podcasts to info@torrentontv.com.

"We are excited to offer new and cutting edge programming for our viewers and to have Amber expand her role with G4techTV Canada," said Tom Ayley, General Manager, G4techTV Canada. "Amber's vast experience in technology and internet and her great rapport with her audience really make Torrent entertaining and informative. G4techTV Canada is the home of technology television and we are committed to providing our viewers with outstanding programming and the industry's leading technology experts."

The Globe and Mail's circulation has increased with total average weekday circulation up 3.3 per cent to 327,000 and total average Saturday circulation up 3.8 per cent to 409,000. Notably, these gains are attributable to increases in paid circulation (paid 50 per cent or more.)

At the same time, other newspapers are reporting circulation drops despite massive increases in their discounted circulation (paid at 50 per cent or less.) National Post total average weekday circulation is down more than 3 per cent, totaling a 25 per cent circulation drop over the last 4 years. Saturday circulation is down more than 2 per cent, totaling a 33 per cent drop over the past four years. Yet at the same time, the Post's discounted circulation has almost doubled in a single year; up 92.7 per cent on weekdays and 97.7 per cent on Saturdays.

"You have to wonder about your business model if year in and year out you're discounting more and yet selling less," said Phillip Crawley, Publisher, The Globe and Mail. "These reports are definitive proof that trying to fatten up your numbers with discounting simply degrades your circulation."

Since 2001, The Globe has increased its portion of paid circulation by 15 per cent despite being the most expensive newspaper (subscription and cover

price) in Canada. "We believe that readers will pay a premium price if we keep on investing in the quality of our content, as we have done in recent years."

The Globe and Mail, Canada's national newspaper, is a division of Bell Globemedia, a dynamic multi-media company, which also owns CTV Inc., Canada's number-one private broadcaster.

MONTREAL - The war in Iraq has proved to be the deadliest for journalists since World War II. A total of 86 journalists and media assistants have been killed in Iraq since the war began on 20 March 2003. This is more than the number killed during 20 years of war in Vietnam or the civil war in Algeria.

Iraq is also one of the world's biggest marketplaces for hostages, with 38 journalists kidnapped in three years. Five of them were executed. Three - Jill Carroll, Reem Zeid and Marwan Khazaal - are still being held by their abductors.

Around 63 journalists were killed in Vietnam during the 20 years from 1955 to 1975. A total of 49 media professionals were killed in the course of their work during the war in ex-Yugoslavia, from 1991 to 1995. During the civil war in Algeria from 1993 to 1996, 77 journalists and media assistants were killed.

Paul Moran, an Australian cameraman working for ABC television, was the first of the long series of journalists to die in Iraq. He was killed by a car bomb right at the start of the war, on 22 March 2003. Eleven journalists and media assistants were killed during March and April 2003. Then the number of victims let up until the start of 2004 and a new wave of bombings and attacks by armed groups. There have been no more let-ups since then. Hardly a month has gone by without at least one journalist being killed. Twenty-eight media professionals were killed in Iraq in 2005 and eight have been killed so far this year.

The aim of this survey is to provide information about all the cases of journalists killed in Iraq just for trying to do their job, about the media they were working for and about the circumstances in which they died.

It also provides information about all the hostage-takings, which have been more numerous than in any other war and have involved citizens of many different countries, both those that are participants in the war and those that are not.

This is the second time that Reporters Without Borders has produced such a survey. The first one was published on 3 May 2005, on World Press Freedom Day.

"We were blown away by the quality and originality of the submissions," said Roger Dunbar, Vice President, Advertising Sales and Marketing, The Globe and Mail. "Each team really took the task to heart and demonstrated how newspaper can be used dynamically and with big impact to communicate the brand. We had entries from across the country, from large agencies and boutiques, and for clients in a wide range of sectors. It was a real cross- section of Canadian creative power and a true demonstration of the versatility of newspaper."

In the winning campaign, Cossette used iconic imagery of McDonald's products and the column format of the newspaper to represent a hamburger and fries over what appears to be a regular newspaper page. The judges selected the campaign because of its creativity, innovation, emotional appeal, delivery of the brand and smart use of the ad space.

The competition was judged by a panel of Cannes Lions Print winners from around the world: Carlos Anuncibay of Saatchi & Saatchi, Spain; Alexandre Soares of JWT Brazil; Steve Straw of Leo Burnett Asia Pacific; Graham Warsop of The Jupiter Drawing Room, South Africa; and Bill Wright of Crispin Porter + Bogusky, Miami.

- Almost nine out of 10 executives (86%) expect the new government to be a positive change from the previous government
-
TORONTO, March 20 - A recent survey of Canada's Top 1,000 corporations' C-Suite executives (CEOs, CFOs, and COOs) reveals that executives support the new federal government's economic direction and have high expectations in terms of policy, ethics and accountability. The survey, conducted by the Gandalf Group for The Globe and Mail Report on Business and Report on Business Television, is the first of a series of quarterly surveys. Report on Business Television will broadcast a special presentation of the survey findings on Monday, March 20, 2006 at 8:30 pm ET.

The Report on Business C-Suite Survey asked executives about their expectations for the Canadian economy and the new federal government's policy priorities. The vast majority of executives (86%) expect the new government to be a positive change from the previous government and 85% expect the new government to be better for business than the previous Liberal government. More than seven out of 10 executives (72%) have confidence in Finance Minister Flaherty's management of the economy.

The survey also reveals that four out of 10 (40%) executives believe that the areas of ethics, transparency and accountability are the most important way in which the new government should be different from the previous government.

"C-suite executives judge government neither solely through the prism of their own personal beliefs, nor solely on what would be in their company's best interest," says David Herle, Principal and Partner of the Ottawa-based Gandalf Group. "In placing as high a priority as they do on initiatives like the Accountability Act or addressing the fiscal imbalance, they are clearly applying a broader test to public policy."

Other Survey Highlights include:

- There is virtual unanimity among executives that the Canadian economy will continue to grow over the next 12 months - with one in five (20%) executives expecting strong growth.

- Executives are even more bullish about their own companies' prospects with most (51%) expecting strong growth for their companies. On this topic, however, CEOs tend to have a slightly different view from CFOs. CEOs are much more likely (59%) than CFOs (43%) to predict strong growth.

- The most common challenge for their company cited by executives is finding and keeping talented people.

- When asked what the single biggest priority should be for the federal government, C-suite executives commonly cited three areas: Economic development and workforce training (22%), reducing taxes (20%, of which 5% specified corporate taxes) and honesty and accountability (18%).

- Executives were also asked how much of a priority Ottawa should place on certain policies. By far the area of strongest consensus was the need to keep the federal budget balanced. Virtually every executive (98%) thinks that this should be a high priority for the new government more so than any other policy area

- Other priorities that registered high with executives include addressing the fiscal imbalance between federal and provincial governments, paying down the debt, introducing a federal Accountability Act, eliminating the capital gains tax and addressing the fiscal imbalance.

- Executives place a low priority on introducing legislation to ban same-sex marriages, canceling the Goodale personal tax cuts, withdrawing from the Kyoto Accord, canceling the existing child care agreements with the provinces.

- Executive opinion is divided about whether or not there should be a priority placed on increasing military spending, reducing the GST, allowing bank mergers, introducing an annual child care allowance, or negotiating free trade agreement with countries in the Asia-pacific region.

The Toronto Star, with nine nominations, was next, followed by La Presse of Montreal with five nominations and The Canadian Press with four.

The Ottawa Citizen and National Post had three nominations as did The Province from Vancouver which shares one of its three nominations with the Calgary Herald which also had one other nomination. Others with two nominations were The Hamilton Spectator, The Gazette of Montreal, The Vancouver Sun, Victoria Times Colonist, and Winnipeg Free Press.

The Cornwall Standard-Freeholder, Edmonton Journal, Halifax Chronicle- Herald, Lethbridge Herald, London Free Press, Moose Jaw Times-Herald, New Brunswick Telegraph-Journal, The Ottawa Sun, Owen Sound Sun-Times, Prince George Citizen, and St. Catharines Standard had one each.

The 60 finalists in the 20 categories were announced on March 17, 2006, from the National Newspaper Awards office in Toronto. There were more than 1,470 entries in this year's competition for works that appeared in the year 2005, the highest in NNA history.

In all, 24 news organizations have been nominated.

The winners will be announced at a gala awards ceremony in Halifax on Friday, May 26. This marks the first time the awards have ever been presented in Atlantic Canada. Winners will receive cheques for $1,500 and a certificate of award. Runners-up receive citations of merit and cash awards of $250 each.

This is the 17th year for the NNAs under a Board of Governors which includes editors, publishers and the public from across Canada as well as representatives from the Toronto Press Club. Previous to 1989, the NNAs had been sponsored by the Toronto Press Club. The awards are administered by the National Newspaper Awards office at the Canadian Newspaper Association.

The National Newspaper Awards were founded by The Toronto Press Club in 1949.

Highlights:

- Ryan Remiorz of The Canadian Press has been nominated in two
categories: sports photo and news photo.
- Ian Brown of The Globe and Mail has two nominations in this year's
competition-in Long Features and in Explanatory.
- La Presse in Montreal has been nominated for a fourth straight year
in Presentation. Designers from the newspaper have won this award
three years in a row.
- Stephanie Nolen of The Globe and Mail has been nominated in
International Reporting for the third straight year.
- Serge Chapleau of La Presse in Montreal has been nominated for the
ninth time in Editorial Cartooning. He has won the award five times.
- Brian Gable of The Globe and Mail has been nominated for the seventh
time in Editorial Cartooning. He has won the award three times.
- The Owen Sound Sun Times, Moose Jaw Times-Herald and Cornwall
Standard-Freeholder have received their first nominations in the
history of the awards.
- Iain Hunter of the Victoria Times Colonist has been nominated for a
third straight year in editorials.
- The Globe and Mail's Doug Saunders, a three-time winner of a National
Newspaper Award for arts and entertainment reporting from 1998-2000,
is a finalist again in Columns.
- Larry MacDougal, now a freelance photographer, has been nominated for
a seventh time in photography. He won NNAs three times with the
Calgary Herald.
- The Ottawa Citizen has been nominated for a seventh time in Special
Project.

The nominees:

- Beat Reporting: Stewart Bell, National Post, for coverage of national
security issues; Gordon Hamilton, The Vancouver Sun, for reporting on
the B.C. forestry industry; Michelle Shephard, Toronto Star, for
national security beat reporting.
- Politics: Colette Derworiz and Suzanne Wilton, Calgary Herald, for
stories that exposed voting irregularities in a Calgary municipal
election; Jeff Sallot and Simon Tuck, The Globe and Mail, for
stories about former industry minister David Dingwall's controversial
lobbying efforts; Lindsay Kines and Jeff Rud, Victoria Times-
Colonist, for stories of tragic child deaths and abuse after a
special B.C. children's commission was disbanded.
- News Photography: Adam Dombowsky of the Moose Jaw Times-Herald for a
photo of an airshow collision; Larry MacDougal of The Canadian Press
for a photo from the funeral service of the four slain Mayerthorpe
RCMP officers; Ryan Remiorz of The Canadian Press for a picture of a
joyous World War II veteran in the Netherlands.
- Editorial Cartooning: Serge Chapleau, La Presse, Montreal; Brian
Gable, The Globe and Mail; Bruce MacKinnon, Halifax Chronicle-Herald.
- Feature Photography: Mike Carroccetto, Ottawa Citizen, for a photo of
the terrified looks of youngsters on an amusement park ride; Nick
Procaylo, The Province, Vancouver, for a photo of a silhouetted
swimmer taken from below in a glass-bottomed pool; Derek Ruttan, The
London Free Press, for the contrast of a bald man against the
backdrop of a painting of a red rose.
- International: Pascale Breton of La Presse in Montreal for coverage
of the horror of Niger's famine; Rosie DiManno of the Toronto Star
for stories of the aftermath of Hurricane Katrina; Stephanie Nolen of
The Globe and Mail for stories from her vast Africa beat.
- Editorial Writing: Sean Fine, The Globe and Mail; Iain Hunter,
Victoria Times Colonist; Dawn Sugimoto, Lethbridge Herald.
- Arts and Entertainment: Geoff Pevere, Toronto Star, for a series on a
movie review, cultural trends, and Hunter S. Thompson; Kevin Prokosh
of the Winnipeg Free Press for a chronicle of a musical; Lisa Rochon,
The Globe and Mail, for stories on architecture.
- Breaking News: Edmonton Journal team for coverage of the murders of
four Alberta Mayerthorpe RCMP officers; Tu Thanh Ha and Ingrid Peritz
of The Globe and Mail for the killing of a Laval policewoman; Leah
Janzen of the Winnipeg Free Press for her stories of a pilot's heroic
efforts in the crash of a cargo plane.
- Local Reporting: The Cornwall Standard-Freeholder staff for their
stories on the impact of the closing of the small city's paper mill;
Scott Dunn of the Owen Sound Sun Times, for stories on a family's
struggle to care for their hostile mentally ill son; Gordon Hoekstra
of the Prince George Citizen for an investigation into the deaths of
22 logging truck drivers over the past 10 years.
- Long Features: Ian Brown, The Globe and Mail, for a feature on
religion and its impact on people and politics; Louise Leduc of La
Presse in Montreal for a story on immigrant minimum wage workers;
Sarah McGinnis of the New Brunswick Telegraph-Journal in Saint John
for a story on her struggle with Marfan Syndrome, a rare disease
which took her father's life when she was an infant.
- Short Features: Marlene Bergsma, St. Catharines Standard, for a story
about her rescue by her family after the ice gave way during a family
skate; Allan Maki, The Globe and Mail, for a personal story about
friends who drifted apart until it was too late to connect again;
Laura-Julie Perreault of La Presse in Montreal for a story on
Afghanistan women who have turned to opium and other drugs to help
them forget their troubles.
- Special Project: The Hamilton Spectator for a report on the lives of
Somali refugees who have made Hamilton their new home; the Ottawa
Citizen for a special report on the issues that confront the
terminally ill, their families and their caregivers; The Province in
Vancouver for an indepth look at the dangerous world of auto crime.
- Sports: Geoff Baker, Toronto Star, for an investigative series on the
widespread use of performance enhancing drugs among teenage baseball
players in the Dominican Republic; William Marsden, The Gazette in
Montreal, for reporting on the hazing scandal involving the McGill
University Redmen football team; Earl McRae of The Ottawa Sun for a
story of an afternoon of watching the movie "Cinderella Man" with
legendary boxer George Chuvalo.
- Investigations: Steve Buist, Joan Walters and Luma Muhtadie, The
Hamilton Spectator, for a series of stories on the safety of
prescription drugs and the ties between university researchers and
pharmaceutical companies; Harold Levy, Toronto Star, for a story on
the wrongdoing of a controversial forensic pathologist; Fabian
Dawson, Valerie Fortney, Mike Roberts and Ted Rhodes, Calgary Herald
and The Province of Vancouver (joint entry), for stories of abandoned
Indian-born brides duped of their dowries in widespread marital
fraud.
- Columns: Andrew Cohen, Ottawa Citizen; Doug Saunders, The Globe and
Mail; Margaret Wente, The Globe and Mail.
- Explanatory Work: Ian Brown, The Globe and Mail, for his offbeat
explanation of a hangover; Catherine Porter of the Toronto Star for a
primer on how a litre of water makes it from the source to usage;
Oakland Ross of the Toronto Star for a story on the cause, course and
devastating results of a tsunami, shortly after the Asian disaster.
- Presentation: Catherine Bernard, La Presse, Montreal; Catherine
Farley and Greg Smith, Toronto Star; Gayle Grin, National Post.
- Business: David Baines, The Vancouver Sun, for stories on a scandal
enveloping the Eron Mortgage Corporation; Theresa Tedesco, National
Post, for a story of turmoil surrounding the Alberta Securities
Commission; Jennifer Wells, Toronto Star, for a minute-by-minute
account of a real estate transaction in a heated up housing market.
- Sports Photography: Frank Gunn, The Canadian Press, for a photo of
Olympic champion swimmer Michael Phelps nearing the finish line; John
Mahoney, The Gazette, Montreal, for a photo of a wide-eyed water polo
netminder awaiting a throw from an opponent; Ryan Remiorz, The
Canadian Press, for a photo of a diver's head hitting the diving
board.

NATIONAL NEWSPAPER AWARDS
CONCOURS CANADIEN DE JOURNALISME

FINALISTS/FINALISTES - 2005

Beats/Journalisme specialisé

- Stewart Bell, National Post
- Gordon Hamilton, The Vancouver Sun
- Michelle Shephard, Toronto Star

Explanatory work/Texte explicatif

- Ian Brown, The Globe and Mail
- Catherine Porter, Toronto Star
- Oakland Ross, Toronto Star

Politics/Politique

- Colette Derworiz, Suzanne Wilton, Calgary Herald
- Jeff Sallot, Simon Tuck, The Globe and Mail
- Lindsay Kines, Jeff Rud, Victoria Times Colonist

Short Features/Reportage bref

- Marlene Bergsma, St. Catharines Standard
- Allan Maki, The Globe and Mail
- Laura-Julie Perreault, La Presse, Montréal

Local Reporting/Reportage à caractère local

- Team, Cornwall Standard-Freeholder
- Scott Dunn, Owen Sound Sun-Times
- Gordon Hoekstra, Prince George Citizen

Presentation/Présentation

- Catherine Bernard, La Presse, Montréal
- Gayle Grin, National Post
- Catherine Farley, Greg Smith, Toronto Star

Special Project/Projet spécial

- The Hamilton Spectator
- Ottawa Citizen
- The Province, Vancouver

Sports Photography/Photographie de sport

- Frank Gunn, The Canadian Press
- John Mahoney, The Gazette, Montreal
- Ryan Remiorz, The Canadian Press

Business/Economie

- David Baines, The Vancouver Sun
- Theresa Tedesco, National Post
- Jennifer Wells, Toronto Star

Columns/Chronique

- Andrew Cohen, Ottawa Citizen
- Doug Saunders, The Globe and Mail
- Margaret Wente, The Globe and Mail

Investigations/Grande enquête

- Steve Buist, Joan Walters, Luma Muhtadie, The Hamilton Spectator
- Harold Levy, Toronto Star
- Team, Vancouver Province/Calgary Herald

Arts and Entertainment/Culture

- Geoff Pevere, Toronto Star
- Kevin Prokosh, Winnipeg Free Press
- Lisa Rochon, The Globe and Mail

Sports/Sport

- Geoff Baker, Toronto Star
- William Marsden, The Gazette, Montreal
- Earl McRae, The Ottawa Sun

Feature Photography/Photographie de reportage

- Mike Carroccetto, Ottawa Citizen
- Nick Procaylo, The Province, Vancouver
- Derek Ruttan, The London Free Press

International /Reportage à caractère international

- Pascale Breton, La Presse, Montréal
- Rosie DiManno, Toronto Star
- Stephanie Nolen, The Globe and Mail

Editorials/Editorial

- Sean Fine, The Globe and Mail
- Iain Hunter, Victoria Times Colonist
- Dawn Sugimoto, Lethbridge Herald

Editorial Cartooning/Caricature

- Serge Chapleau, La Presse, Montréal
- Brian Gable, The Globe and Mail
- Bruce MacKinnon, Halifax Chronicle-Herald

Long Features/Reportage élaboré

- Ian Brown, The Globe and Mail
- Louise Leduc, La Presse, Montréal
- Sarah McGinnis, New Brunswick Telegraph-Journal

News Photography/Photographie d'actualité

- Adam Dombowsky, Moose Jaw Times Herald
- Larry MacDougal, The Canadian Press
- Ryan Remiorz, The Canadian Press

Breaking News/Nouvelle de dernière heure

- Team, Edmonton Journal
- Tu Thanh Ha, Ingrid Peritz, The Globe and Mail
- Leah Janzen, Winnipeg Free Press

MONTREAL - For the fiscal quarter ended January 31, 2006, Transcontinental's revenues reached $547.4 million, up 6% over $515.3 million in the first quarter of 2005. The increase stems mainly from the acquisition of U.S.-based direct marketer JDM in February, 2005, as well as from organic revenue growth of 2%, but was mitigated by the negative impact of the Canadian dollar's appreciation and competitive market conditions in commercial printing. These latter factors particularly affected net income, which stood at $27.9 million, or $0.31 per share, in the first quarter of 2006, down 4% from $29.1 million, or $0.33 per share, in the year-earlier quarter.

Highlights:

- 6% growth in revenues.
- Net income of $27.9 million, or $0.31 per share in the first quarter of 2006, down 4% over $29.1 million, or $0.33 per share, in the first quarter of 2005, due to the negative foreign exchange impact combined with slight increases in amortization and financial expenses.
- Excluding the negative foreign-exchange impact and unusual items, earnings per share would have been $0.36, an increase of 9% over the first quarter of 2005.
- Dividends to shareholders will increase by 18% to $0.065 per share starting in the second quarter.
- Purchased for cancellation 2,354,200 shares under normal course issuer bid launched last November, for a total consideration of $44.8 million as of March 14, 2006.
- A solid financial position to pursue growth, with a net indebtedness to total capitalization ratio of 28% as at January 31, 2006.
- Transcontinental's management maintains its previously stated earnings- per-share objective before unusual items of $1.50 to $1.60 for fiscal 2006.

First Quarter

"Our first-quarter results are in line with our expectations, with revenue growth coming both from acquisitions and sales development initiatives while the exchange rate continued to have an impact on our bottom line," said Luc Desjardins, president and chief executive officer of Transcontinental. "Our response to the stronger Canadian dollar has been the implementation of our revised manufacturing strategy, a $53-million investment to replace seven older presses with three state-of-the-art machines and the reorganization of certain operations. This important program is now almost finished and should see its final stages wrap up in the third quarter of this year in our book printing operations.

"The combination of a solid balance sheet and strong cash flows puts us in a favourable position to continue to invest in our development," continued Mr. Desjardins. "We will step up our strategic investments relating to our five-year plan, Evolution 2010, in the coming quarters, particularly in the areas of digital media and product and service development in our Media sector. We are also looking at various acquisition opportunities in our target niches and continue to make progress with potential customers for our newspaper outsourcing model."

Benoît Huard, vice president and chief financial officer, added: "Taking into consideration a constant exchange rate of 1.15 CAD/USD for the remainder of the year, current energy prices and the positive effect from the share buy- back program, Transcontinental's management maintains its previously stated earnings-per-share objective before unusual items of $1.50 to $1.60 for fiscal 2006".

Financial Highlights

In the first quarter ended January 31, 2006, Transcontinental reported consolidated revenues of $547.4 million versus $515.3 million in the same quarter of 2005, a 6% increase, while adjusted operating income before amortization(1) decreased by less than 1% to $79.2 million from $79.9 million in 2005. The increases of 2%, or $12.2 million, in organic growth in revenues and 1%, or $1.0 million, in organic growth in adjusted operating income before amortization stem primarily from newspaper printing, catalogue and magazine printing and the publishing of weekly newspapers in Quebec. These activities more than offset competitive market conditions in the commercial printing market and lower book printing sales volumes due to the reorganization and consolidation of the Louiseville plant. The acquisition completed in fiscal 2005 of U.S. direct marketer JDM added $23.1 million to revenues and $3.2 million to adjusted operating income before amortization. The paper effect had a $3.8-million positive impact on revenues but a slightly negative $0.3-million effect on adjusted operating income before amortization. Finally, fluctuations in the exchange rate between the Canadian dollar and its U.S. and Mexican counterparts had a negative effect of $7.0 million on revenues and $4.6 million on adjusted operating income before amortization.

Net income decreased by 4%, from $29.1 million in the first quarter of 2005 to $27.9 million in 2006, mainly due to a negative exchange-rate effect combined with slight increases in amortization and financial expenses. On a per-common-share basis, net income decreased from $0.33 to $0.31. Excluding the negative foreign-exchange impact and unusual items, earnings per share would have been $0.36, representing an increase of 9% over the first quarter of 2005.

Highlights of Operations

The following are the main operating highlights by sector for the first quarter of 2006:

- Revenues in the Printing Products and Services sector rose slightly to $171.1 million in the first quarter of 2006 from $170.6 million in the year-earlier quarter, an increase of 0.3%, while adjusted operating income before amortization declined by 11.9%, from $29.0 million to $25.5 million. Organic growth in revenues was generated primarily in the Newspaper Group, stemming from an increase in page counts, increased volume from the federal election and the new contract to print The New York Times for the Ontario and Upstate New York markets at Transcontinental Interweb Toronto, the first time the venerable daily has ever been printed outside the U.S. For the balance of the fiscal year, this Group will continue to benefit from the New York Times contract, plus the Olympic Games coverage in February should also have a positive impact. While Mexican operations continue to face a challenging environment, they did continue to benefit from new sales initiatives. The Book Group is expected to complete the reorganization and consolidation of the Louiseville plant by May, while the installation of the new Goss press in the Beauceville plant is expected to be completed in June. The adjusted operating income margin before amortization decreased from 17.0% in the first quarter of 2005 to 14.9% in the first quarter of 2006. This decrease can mostly be attributed to competitive market conditions in commercial printing and the negative exchange-rate effect.

- Revenues in the Marketing Products and Services sector rose from $242 million in the first quarter of 2005 to $267.2 million in 2006, an increase of $25.2 million, or 10.4%, while adjusted operating income before amortization rose 10.9%, from $33.9 million in the first quarter of 2005 to $37.6 million in 2006. The driver of growth was the acquisition of JDM, completed in February 2005. In addition, the new Premedia Group, created following the launch of our Evolution 2010 business plan, was quite successful in the quarter. Furthermore, the Direct Marketing Group in the U.S. completed its reorganization and plant consolidation. The adjusted operating income margin before amortization remained stable at 14.1% in the first quarter of 2006 as organic growth in retail printing operations was offset by the negative foreign-exchange impact.

- Revenues in the Media sector rose from $129.1 million in the first quarter of 2005 to $133.8 million in 2006, an increase of $4.7 million, or 3.6%, while adjusted operating income before amortization remained relatively stable at $19.7 million, down 1.4% from $20.0 million. Organic growth was generated in the publishing of daily and weekly newspapers in Quebec and the Atlantic Provinces as well as in the distribution of advertising material. On the other hand, magazine publishing was negatively affected by lower advertising in certain categories, higher postal costs and higher circulation and promotion expenses to increase the subscription base of The Hockey News, which is now approaching its pre-NHL lockout numbers. Promising partnerships with the strong brands AskMen.com and Yellow Pages Group were also signed during the quarter. The adjusted operating income margin before amortization decreased slightly from 15.5% to 14.7%. Investments in the development of new products and services and in the digital strategy should increase over the next three quarters.

Strategic Orientation Update: Evolution 2010

Evolution 2010, our new business project launched on November 16, 2005, builds on the achievements of Horizon 2005 but will go one step further. Transcontinental needs to adapt and change to the new realities of increased competition and globalization, a stronger Canadian dollar, technological advances and the emergence of new media channels. We will thus need to invest more than ever in our long-term development.

Growth will be challenging in the coming years due to intense competition in some printing segments and increased strategic expenses needed to further differentiate ourselves. Evolution 2010 will put more emphasis on our role as a marketing advisor to our customers, by developing an even greater knowledge of their markets and integrating us into their value chain. We will also aim at improving our content, product and service offering, and technology platform so that we can serve our advertisers, readers and website visitors even better. Furthermore, we will be stressing organic growth, based on innovative and creative initiatives by our people, while continuing to target strategic acquisitions. We will also be investing more heavily in our long- term development.

Management believes that the goals of this business project can be achieved in five ways: by introducing new products and services on a multi- channel platform; by offering integrated marketing services with a focus on value-added services; by reducing cycle times in both production and administrative functions; by growing sales organically; and, lastly, by developing our talent.

In the first quarter of 2006, on the media side we became the co- publisher of the newly launched Canadian version of the world's number-one online men's lifestyle magazine, AskMen.com, which boasted approximately 10 million unique visitors worldwide in January 2006. We also forged ahead with our partnership with Yellow Pages Group for the publishing of new and innovative guides. The first two issues of these guides will target home improvement consumers, combining Transcontinental's Décormag and Style at Home brands with the Yellow Pages(TM) brand, and will be published in the spring of this year. We also elaborated the profile and started the search to fill the position of Vice President, Digital Media.

On the print side, we completed the reorganization and consolidation of our Eastern U.S. direct marketing operations, we installed and ramped up the new Goss press in our Boucherville plant, we continued to work on the reorganization and consolidation of our Louiseville plant, we continued to implement our integrated manufacturing software in our printing plants and, finally, we pursued our discussions with potential customers for our newspaper outsourcing model.

Furthermore, we launched our Finance Evolution program, which aims to reengineer our financial processes over the next three years. We also pursued numerous efforts for cross-selling initiatives, our market team approach and the development of our premedia offering.

Reconciliation of Non-GAAP Financial Measures

Financial data have been prepared in conformity with Canadian Generally Accepted Accounting Principles (GAAP). However, certain financial measures used in this press release do not have any standardized meaning under GAAP and could be calculated differently by other companies. The Corporation believes that certain non-GAAP financial measures, when presented in conjunction with comparable GAAP financial measures, are useful to investors and other readers because that information is an appropriate measure for evaluating the Corporation's operating performance. Internally, the Corporation uses this non- GAAP financial information as an indicator of business performance, and evaluates management's effectiveness with specific reference to these indicators. These measures should be considered in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP. Below is a table reconciling GAAP financial measures to non-GAAP financial measures.

Now in its 18th year, the PROFIT 100 ranking of Canada's Fastest-Growing Companies celebrates the entrepreneurial achievements of the country's leading growth firms. Many stars of Canadian business - including Research in Motion, First Service Corp., Spin Master Toys and WestJet Airlines - are recent PROFIT 100 alumni.

Any entrepreneur or executive who manages or knows of a fast-growing company is invited to enter the 2006 PROFIT 100 by completing the simple online ballot found at PROFIT100.com. But they have to act fast: the entry deadline is March 31, 2006.

Tremendous benefits await the winners, which are ranked by five-year revenue growth. PROFIT will honour Canada's Fastest-Growing Companies in its special June issue and at the fourth annual PROFIT 100 CEO Summit, Canada's most exclusive and educational event for entrepreneurial achievers. Winning firms are also backed by a national publicity campaign that generates extensive consumer and trade media coverage. The top 20 Quebec-based winners will also be featured in L'actualité magazine.

Candidates and nominators looking for more information can call the

toll-free PROFIT 100 hotline at 1-800-713-GROW or visit PROFIT100.com

Toronto - The Canadian office of The Epoch Times, a global independent newspaper and a leading critic of the Chinese Communist Party, appeals to the Canadian government to condemn the recent series of violent attacks against its office and staff and to be on the alert for similar attacks by the Chinese communist regime in Canada.

On Tuesday night, four hammer-wielding thugs smashed through the locked glass doors of the newspaper's Hong Kong office, threatened seven employees not to move, quickly searched the office, and spotted the recently installed computer-to-plate machine used for printing. One said, "Here it is." The four smashed the machine with their hammers and left immediately.

"Their goal was clearly to cease the printing capabilities of The Epoch Times," says Cindy Gu, publisher of the newspaper's Chinese-language edition in Canada. "There is now a frightening trend of attacks on our newspaper outside of China and we are concerned this could happen in Canada."

In the last four weeks, Epoch Times staff have been the target of a series of threats and harassment outside of mainland China. On February 8th Chief Technical Officer Yuan (Peter) Li was attacked in his Atlanta home and severely beaten by a gang of armed Asian men who stole only his work-related laptop computers and files, leaving other valuables behind. Li's face was left with 15 stitches.

On February 9th, the home of the Paris manager of The Epoch Times which had supported a Chinese New Year Gala organized by the independent satellite channel NTDTV was broken into and all ticket receipts for the gala were stolen, but nothing else was touched.

Chinese communist spy reports obtained by The Epoch Times confirm that the newspaper has been a target of the Chinese regime, including in Canada. Inside China, four of Epoch Times journalists remain imprisoned.

Attacks on Epoch Times and its employees intensified after The Epoch Times published its award winning editorial series Nine Commentaries on the Communist Party in December 2004. The Nine Commentaries gives a groundbreaking account of the history and nature of the ruling Chinese Communist Party (CCP) and the continual atrocities it has committed against the Chinese people.

Since publication of the Nine Commentaries, 8.5 million Chinese have announced cutting all their ties with the CCP on a website established by The Epoch Times.

On Tuesday, International Federation of Journalists condemned the Chinese communist regime's "Brutal Vendetta" against the Epoch Times. "China's authoritarian leaders are maintaining a systematic policy of intimidation and censorship directed against dissident voices and independent media, both inside and outside of the country," said Aidan White, IFJ General Secretary. "This latest vandalism is part of a brutal vendetta that cannot be tolerated." The IFJ represents more than 500,000 journalists in over 110 countries.

The Canadian Hello! will present up-close and intimate information on international and national celebrities known to and loved by Canadians. Using the upscale format of Hola! in Spain, Hello! in the UK and international editions in Greece, Turkey, Russia and the Middle East, Hello! will feature spectacular photography and insider information about celebrities presented in a tasteful and respectful manner. The magazine will also feature an exciting lifestyle section with fashion, décor, food and travel pages.

Middlebrook comes to Hello! from CBC where she was Senior Manager National Sales at English Television. Prior to joining CBC, she was Executive Vice President of Brunico Communications Inc., a publisher of Canadian and international entertainment and marketing B2B magazines, where she was instrumental in the launch of a number of their international brands.

"Shelley's enthusiasm for Hello!, her senior-level media and publishing experience, and her familiarity with the needs of our market make her the ideal choice for publisher," said Blondeau.

"I am extremely excited about the opportunity to be part of launching a magazine in Canada that has already established itself as an international publishing phenomenon," said Middlebrook. "Hello! has unique access to the hottest celebrities around the world and a premium format that differentiates it in the marketplace. The backing of Canada's largest and most respected magazine publisher makes this a once in a lifetime opportunity."

Launched in the UK in 1988, Hello! is a wholly owned subsidiary of the Spanish magazine Hola!, which first debuted in 1944. Every edition reflects the editorial ethos and values of the original - to entertain, inform, and provide a showcase for glamour and personalities from around the world. In the UK, Hello!'s current circulation stands at 392,481 weekly, with over 2.2 million readers each week.

Every week, more than 573,000 readers* pick up a copy of Métro, which makes it the city's third ranking newspaper, right behind the Journal de Montréal and La Presse. What's more, having targeted a mainly young, educated
urban audience, Métro now attracts 46% of all readers between the ages of
18 and 34, more than any of its competitors.

Contrary to popular belief, the number of newspaper readers is on the rise in Montreal -- and Métro has contributed to that increase. According to NADbank, between 2001 and 2004, the number of people in Montreal who regularly read a newspaper Monday to Friday increased by 18%. Designed to be read in less than half an hour, Métro offers a wide variety of local, national, international, sports and cultural news, sufficiently comprehensive that many of its readers choose Métro as their sole source for printed news.

Métro launched its first issue in Montreal on March 1, 2001, thanks to a
partnership between Metro International and Transcontinental, Canada's
number-one printer and fourth-largest print media group. In 2001, Métro signed an exclusive agreement with the Montreal Transit Corporation (MTC) to distribute the paper in its 65 subway stations.

In Montreal, an average of 265,000 people read Métro every day. Worldwide, 18.5 million people browse through a Metro newspaper on a daily basis. The paper's international success is largely due to its content, which targets a young, ever growing audience in the cities where the paper is distributed, as well as to the launch of new editions. In this past year, Metro International launched 21 new editions, bringing its total to 61 worldwide, including breakthrough initiatives in Russia, Portugal and Ireland.

To celebrate its fifth anniversary, Montreal's Métro is offering its readers and advertisers a special edition on glossy paper. They are also marking the anniversary by giving away thousands of candies to readers along with the paper.

Who are Métro's Montreal readers?

55% of Métro readers are men, 45% are women
78% of Métro readers are aged under 50 years
44% of Métro readers have a post-secondary education
61% of Métro readers are currently in the workforce
21% of Métro readers are currently students
63% of Métro readers surf the Internet for five hours or more per week

Named as “The Most Powerful Canadian in Hollywood” in 2005 by Canadian Business magazine, Anderson is one of the world’s most recognized stars, thanks to her multi-platform career as an actor, model, author, producer and designer. Anderson joins an esteemed list of homegrown, international stars who have hosted The JUNO Awards the since CTV began airing the awards telecast in 2002, including Barenaked Ladies, Shania Twain and Alanis Morissette. “Canadian music rocks,” said Anderson. “No matter where I am in the world I can listen to Canadian music and feel like I’m at home. This is going to be one kick-ass awards show.” Anderson will host a two-hour

awards broadcast that features performances by Bedouin Soundclash, Broken Social Scene, 2006 Canadian Music Hall of Fame inductee Bryan Adams, Coldplay, Michael Bublé and Nickelback. Additional performers will be announced soon.

“She’s famous around the world, but Pamela will feel right at home in Halifax,” said Susanne Boyce CTV’s President of Programming and Chair of the CTV Media Group. “She can expect a hearty east coast welcome for what promises to be a spectacular awards broadcast.”

“We are thrilled to have Pamela Anderson host The 2006 JUNO Awards,” said Melanie Berry, President of the Canadian Academy of Recording Arts and Sciences (CARAS) and executive producer of the broadcast. “With her unabashed wit and spontaneity, she is sure to make April 2nd a night to remember.”

Pamela Anderson was born on Canada’s centennial birthday on July 1, 1967. Raised in Ladysmith, British Columbia, Anderson is now an internationally acclaimed multi-media star. Anderson’s road to stardom began when she was spotted at a B.C. Lions football game. This lead to a contract with Labatt Breweries and several other commercial deals followed. Her beautiful pin-up physique and signature bleach blonde hair has landed her dozens of magazine covers including Playboy, on which she has appeared more times than any woman in the magazine’s history.

Anderson’s television career took off in 1991 with her role as Lisa the “Tool Time Girl” on the family sitcom Home Improvement. Anderson’s most notable television role came in 1992 when she joined the cast of Baywatch. She produced and starred in her own series V.I.P. in 1998 and signed on as the voice for Erotica Jones in the cartoon Striperella in 2003. Currently Anderson stars in the ensemble comedy Stacked. Known as a good sport, she participated in The Comedy Central Roast of Pamela Anderson, which aired on The Comedy Network in February 2006.

Anderson is the author of two books, Star (2004) and Star Struck (2005) and is an activist for the People for the Ethical Treatment of Animals (PETA). Anderson also hopes to launch a cruelty-free line of clothing, beauty and pet care products as well as a vegetarian line of frozen food for kids.

Broadcast in High-Definition and 5.1 Surround Sound, The 2006 JUNO Awards, Canada's Music Awards, will be broadcast for the fifth year in a row on CTV on Sunday, April 2 from the Halifax Metro Centre in Halifax, NS. In April 2005, 1.34 million viewers watched The 2005 JUNO Awards from Winnipeg on CTV. In all, more than 5.7 million Canadians tuned in to watch some part of the star-studded show– an increase of almost half a million viewers compared to the 2004 broadcast - making it once again the most-watched Canadian awards telecast. CTV began broadcasting The JUNO Awards in 2002 when it telecast the Awards from St. John’s, Newfoundland and Labrador, before taking it to Ottawa (2003), Edmonton (2004) and Winnipeg (2005). The 2007 JUNO Awards will be broadcast from Saskatoon on CTV.

Top Rated “Sturgeon in the Morning” Back on the Air in Waterloo Region

Joining forces with Canada’s first Community radio station FM 98.5 CKWR, Sturgeon in the Morning will mark another first- bringing talk radio to the FM dial in Waterloo Region. Scott Jensen, President of FM 98.5 CKWR, is pleased to be able to bring Sturgeon back. “It was unfortunate that a restructure of programming at another local station left Dave without a home for his radio show. It left tens of thousands of Sturgeon loyalists, wandering the dial trying to figure out what had become of their favourite morning show. Dave’s program targets adults 35 plus, which is the same audience that our “Soft Favorites” Music format is targeting, so it is a natural fit for us to bring Dave to mornings. We look forward to having Dave’s audience find our station as well. CKWR is a great station, a great piece of local history and people will love what they hear.” Jensen said.

Fall 2005 BBM ratings for Sturgeon in the Morning were the highest in the show’s history, ranking it #3 with adults aged 35-64 and #2 with adults aged 50+.

News and Sports will be heard every half hour, timely interviews with local, national and international newsmakers, entertainment news, captivating conversation, and in depth coverage of local news events. Sturgeon in the Morning will also feature traffic and weather every 15 minutes, and a Reuters business update every half hour, and because we are on FM, even a song or two from CKWR’s Soft Favorites Format.

Sturgeon is known for his tireless efforts to understand the big news stories and track down top notch experts and guests from around the world. He will also share his unique knowledge and understanding of the music industry by including timely songs, occasionally themed to match the direction of the show. “Long time friend and technical producer, Tim Good (Fulltime Tim), will be producing Dave’s show”, Jensen says.

Sturgeon in the Morning will officially be introduced to CKWR listeners by current morning host Larry Fine, Friday February 24 at 7:45am.

Starting Monday, the daytime lineup on FM 98.5 CKWR will be: Dave Sturgeon (5:30-9am), Fred Merritt (9:00am to 2:00pm), and Larry Fine (2:00pm to 6:00pm). Julie Wild, who is currently hosting the afternoon show, will move to the CKWR Promotions department.

FM 98.5 CKWR is Waterloo Region’s home of specialty and multi-cultural programming, Sturgeon in the Morning, and soft favorites all day long. Real Talk, Real Music, Real Life.

TORONTO - Advertising Standards Canada (ASC) today released its 2005 Ad Complaints Report. The Report provides information about consumers' complaints submitted to ASC in 2005 for review under the Canadian Code of Advertising Standards (Code).

2005 Highlights:

- ASC received 1,271 complaints from consumers about 804 advertisements
- 58 complaints concerning 52 advertisements were determined to contravene the Code by the independent volunteer Consumer Response Councils (Councils)
- The retail advertising category garnered the highest number of complaints (209)
- 46% of all complaints related to advertising on television

"In 2005, many consumers cited concerns about advertisements they believed were inaccurate, lacked clarity, or omitted pertinent information," noted Janet Feasby, Vice President, Standards. "Councils upheld more complaints under Code Clause 1 (Accuracy and Clarity) than under any other clause," added Danielle Lefrançois, Communications Manager (French Canada). The 2005 Ad Complaints Report, as well as case summaries of consumers' complaints upheld by the independent Consumer Response Councils is available on ASC's website (www.adstandards.com).

Advertising Standards Canada is the advertising industry self-regulatory body. ASC administers the Canadian Code of Advertising Standards, the principal instrument of advertising self-regulation in Canada, and accepts complaints from consumers about advertising. ASC's members include leading Canadian advertisers, advertising agencies, and media organizations.

February 22, 2006

FACT SHEET
Advertising Standards Canada

- Advertising Standards Canada (ASC) is the national, not-for-profit industry body committed to ensuring the integrity and viability of advertising in Canada through industry self-regulation.

- ASC's members include leading Canadian advertisers, advertising agencies, media organizations, and suppliers to the advertising industry.

- ASC administers the Canadian Code of Advertising Standards, the principal instrument of advertising self-regulation. The Code sets the standards for acceptable advertising, and is used to review and adjudicate consumers' complaints about advertisements appearing in Canadian media.

- ASC accepts written complaints from consumers who have a concern about an advertisement they see or hear. Complaints may be submitted online at www.adstandards.com; by mail - ASC, 175 Bloor Street East, South Tower, Suite 1801, Toronto, Ontario, M4W 3R8; or by fax - (416) 961-7904.

- Complaints that raise potential issues under the Code are referred for review and adjudication to independent national and regional Consumer Response Councils. These Councils are made up of senior industry and public representatives, who volunteer their time to support the self-regulatory process.

- Summaries of upheld complaints are reported in ASC's quarterly Ad Complaints Reports. The Reports are available online at www.adstandards.com, or may be requested from ASC.

- ASC's recorded toll-free line provides information about the Canadian Code of Advertising Standards and the process for submitting consumer complaints: 1-877-656-8646.

For further information: Contact: Janet Feasby, Vice President, Standards, Toronto, Ontario, Tel: (416) 961-6311, ext. 243, janet.feasby@adstandards.com; Danielle Lefrançois, Communications Manager, Montreal, Quebec, Tel: (514) 931-8060, ext. 27, danielle.lefrancois@normespub.com

Some of Canada’s leading journalists, authors and media executives, including Gwynne Dyer and Scott Griffin, will be at the University of Guelph at 2:30 p.m. today to take part in the inaugural President’s Dialogue on the role of the media in a changing global community.

The dialogue, titled “The Media: Communicators, Conscience, Creators?,” is being held in Rozanski Hall Room 103. It’s free and open to the public.

The dialogue may also be viewed live via the Internet at http://www.uoguelph.ca/president/dialogue.

It’s the first in what will become an annual “President’s Dialogue,” which will bring leading experts to U of G to discuss important contemporary issues. It’s also part of Guelph’s first-ever “thematic” convocation. All of the people receiving honorary degrees during winter convocation this week are high-profile members of the Canadian media.

“It’s our belief that universities should be active participants in the discussion of pressing social issues and should help ensure ongoing free and open public debate,” said president Alastair Summerlee, who will moderate the dialogue.

In addition to Dyer, one of Canada’s most respected and prolific freelance journalists, broadcasters and lecturers; and Griffin, founder of the Griffin Prize for poetry and director of Anansi Press; there will be four other participants in the dialogue. They are: Arthur Carty, a national science advisor and the former president of the National Research Council of Canada; Michael MacMillan, executive chairman of Alliance Atlantis; John McMurtry, a philosopher and U of G professor emeritus; Marci McDonald, a freelance journalist and contributing editor to The Walrus magazine; and Stephen Strauss, former Globe and Mail reporter and science journalist.

During the dialogue, the participants will engage in discussions with each other and take questions from both the live and web audiences.

MARKHAM - Osprey Media Income Fund announced results for the three months ended December 31, 2005. Revenue for the quarter was $60.8 million compared to $56.3 million last year, resulting in earnings before interest, taxes, depreciation and amortization (EBITDA(1)) of $15.1 million compared to $13.3 million last year and distributable cash(1) of $12.1 million compared to $12.0 million last year, or $0.247 per diluted unit. Net income for the quarter was $7.7 million, compared to $6.0 million last year.

Cash distributions declared for the fourth quarter in both 2005 and 2004 totaled $11.0 million or $0.225 per diluted unit. This is equivalent to a monthly rate of $0.075 per unit, or $0.900 per unit annually, which was the rate established by the Fund at the time of the Initial Public Offering.

For the year ended December 31, 2005, consolidated revenue was $222.5 million resulting in EBITDA(1) of $53.0 million and distributable cash of $41.6 million, or $0.848 per diluted unit. Net income for the year ended December 31, 2005 was $23.7 million. (Note: because the Fund commenced operations in April 2004, no comparisons to the prior year are presented here.)

Commenting on the results, Michael Sifton, President & Chief Executive Officer of the Fund, said, "We were pleased with Osprey's results for the fourth quarter. The solid increase in revenue reflected improvements in same-store(1) revenue, accounting for almost half of the growth, as well as the contribution of strategic acquisitions completed since the Initial Public Offering."

Total revenue for the fourth quarter was $60.8 million, 7.9% ahead of the same quarter in 2004 of $56.3 million, and on a same-store(1) basis, was $57.7 million, 3.5% higher than $55.7 million in 2004. As in the first three quarters of 2005, national and retail advertising accounted for the year-over-year growth, with automotive advertising being the main contributor to the increase. Government spending declined during the quarter and multi-market retailers continued to reduce run of press advertising and replace it with inserts. Osprey's insert business recorded further growth in volumes and revenue during the quarter.

Mr. Sifton said Osprey completed its restructuring program during the fourth quarter and the improved efficiencies are expected to benefit results in 2006. During 2005, the Owen Sound and Hanover press operations were moved to Georgian Web in Barrie, the Sudbury press operations were consolidated with Northern Web in North Bay, and in late 2004 the Belleville press was consolidated into the Kingston facility, reducing Osprey's printing facilities from 17 to 13. Mr. Sifton said other efficiency and customer service initiatives implemented in 2005 are also showing early results. "Although in the early stages, our new classified sales centre has already resulted in cost savings and revenue enhancement, and our new circulation call centre is being well received by customers and will, we believe, improve customer service, retention and sales."

On January 1, 2006, Osprey completed a corporate reorganization of the Fund and its affiliates, whereby the business of the Fund will be carried out through a limited partnership. As a consequence of the reorganization, the Fund's subsidiaries will no longer be liable for Large Corporations Tax or Ontario capital tax. These totalled $978,000 in 2005. On January 1, 2006, the Fund also completed an amended credit agreement that extended the maturity of its credit facilities to January 1, 2011 on more favourable pricing terms.

Investor Webcast

A conference call to review the fourth quarter results will be webcast live on www.ospreymedia.ca

The Canadian judges will sit on seven different Cannes Lions juries:

- Judy John, Leo Burnett - Film;

- Elspeth Lynn, ZiG - Outdoor;

- Alain Desormiers, Touché PHD - Media;

- Steve Mykolyn, TAXI - Cyber;

- Scott Pinkney, FCB Direct - Direct;

- Donna McCarthy, Dory Advertising and Radio - Radio;

- and Rob Segal, Segal Communications - Sales Promotions (a new Cannes

Lions category in 2006.)

The Canadian participants were selected based on creative reputation and industry leadership and were selected by the Cannes Lions organization from recommendations by The Globe and Mail, in its capacity as Canadian Representative for the Festival.

"Cannes Lions is the ultimate international stage for advertising talent," said Roger Dunbar, Vice President, Advertising and Marketing, The Globe and Mail. "With seven outstanding Canadian judges in place, the gauntlet is thrown for Canadian advertisers and agencies to send in their best work and show-off Canada's creativity and innovation."

The 2006 Cannes Lions are now open for entries. Deadlines for the various categories of entries range from March 10 to March 24 (see www.canneslions.com for complete details.)

Thousands of young hopefuls from across the country are now preparing for Canadian Idol auditions coming to their province. Now, representatives from local media outlets can find out just how easy - or frightening - it is to try out in front of a Canadian Idol judge. Familiar personalities from the worlds of print, radio and television will try their hand at receiving the coveted "Gold Ticket" when they compete in front of Farley Flex, Jake Gold, Sass Jordan or Zack Werner who will each be accompanied by a former local Canadian Idol competitor.

"It's easy to critique the kids who come out and audition for Canadian Idol," said eTalk Daily co-host Ben Mulroney. "But until you are standing in their shoes - under the lights and in front of the camera - you can't really know what a true challenge it is."

On Friday, February 17 in Edmonton, Canadian Idol judge Jake Gold and former competitor Jenn Beaupré will judge local media competing for $1,000 for the charity of their choice. CTV's eTalk Daily will be there, recording each local Media Idol competitor for posterity. The winner will travel to Toronto to attend the first Top 10 Canadian Idol Performance Show. The Top 10 Media Idols will get a further sense for the Canadian Idol competitor experience by receiving vocal and choreography training, rehearsals on the Canadian Idol stage, style tips from professional wardrobe and make-up consultants. When they are ready, they will step onto the Canadian Idol stage and compete in a showdown to become the 2006 eTalk Daily Media Idol champion. The finals will be taped for broadcast on the fourth season of Canadian Idol this summer.

Media outlets are invited to bring their cameras, tape recorders and notepads to record their auditions as well as challenge other members of their local media to see who can best represent their city in the finals.

Members of the media interested in participating should RSVP to

Anne-Marie La Pointe at amlapointe@ctv.ca or 416.559.4365. Challengers must be members of a reputable media outlet. CTV reserves the right to limit the number of challengers.

Below is a list of cities and dates for the 2006 eTalk Daily Media Idol competition (all subject to change):

City Dates