TRIBUNE COMPANY PRESS RELEASE

FitzSimons to Step Down as Tribune Company Chairman and CEO

CHICAGO, Dec. 19, 2007 - Tribune Company (NYSE:TRB) announced today that Dennis FitzSimons will step down as chairman and chief executive officer immediately after the company completes its going-private transaction. FitzSimons will leave the company at the end of the year.

"I am proud to have been part of Tribune for more than 25 years," said FitzSimons. "The companys greatest strength has always been the talent and dedication of its 20,000 employees. I thank them for their commitment to serving our readers, viewers, listeners and advertisers."

On April 2, 2007, Tribune announced its intention to become a private company, owned 100 percent by the Tribune Employee Stock Ownership Plan (Tribune ESOP). At that time, Sam Zell made an initial investment of $250 million in the company. He joined Tribunes board of directors in May. When the transaction closes, his investment in Tribune will increase to $315 million and he will become chairman of the board.

"Sam Zell is an entrepreneur with a phenomenal track record," added FitzSimons. "He has made a significant investment in Tribune that indicates his strong belief in the value of the companys media assets. It was Sams creativity, personal commitment and investment that made this transaction possible."

"Dennis FitzSimons has provided Tribune with outstanding leadership through a challenging environment," said Zell. "He helped build the company into one of the nations premier media businesses, and has been instrumental in guiding Tribune to the closing of this historic transaction. I wish him much success in the next phase of his career."