MCCLATCHY CO
GUARANTY-CFO SIGNATURE
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>exhibit10-3.htm
<DESCRIPTION>GUARANTY-CFO SIGNATURE
<TEXT>
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    <title>exhibit10-3.htm</title>
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    <div>&#160;</div>
    <div id="HDR" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exhibit
      10.3</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>GUARANTY</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">THIS
<a name="ReturnHereAfterFooterUpdate">GENERAL
      CONTINUING GUARANTY
      (&#8220;<u>Guaranty</u>&#8221;), dated as of May 4, 2007, is executed and delivered by each
      Subsidiary that is a signatory hereto and any future Material Subsidiary (as
      defined in the Credit Agreement referenced below) that executes and delivers
      a
      Joinder hereto (each a &#8220;<u>Guarantor</u>&#8221; and, collectively, the
&#8220;<u>Guarantors</u>&#8221;), in favor of the commercial lending institutions (the
&#8220;<u>Lenders</u>&#8221;) from time to time party to the Credit Agreement (as
      hereinafter defined) and Bank of America, N.A. (&#8220;<u>Bank of America</u>&#8221;), as
      Administrative Agent (in such capacity, together with any successor appointed
      pursuant to Section&#160;9.06 of the Credit Agreement, the &#8220;<u>Administrative
      Agent</u>&#8221;) for the Lenders.</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">WHEREAS,
      the Lenders, the Administrative Agent, the Swing Line Lender and the L/C Issuer
      are parties to a Credit Agreement dated as of June&#160;27, 2006 (said
      Agreement, as it may hereafter be amended, supplemented, modified or restated
      from time to time, being the &#8220;<u>Credit Agreement</u>&#8221;; the terms defined
      therein and not otherwise defined herein being used herein as therein defined)
      with The McClatchy Company, a Delaware corporation (the
&#8220;<u>Borrower</u>&#8221;);</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">WHEREAS,
      each of the Guarantors will derive substantial direct and indirect benefit
      from
      the transactions contemplated by the Credit Agreement;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">NOW,
      THEREFORE, in consideration of the foregoing and in order to induce the Lenders
      to make the credit extensions contemplated under the Credit Agreement, the
      Guarantors hereby agree, jointly and severally, as follows:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      <u>Definitions and Construction</u>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
      <u>Definitions</u>.&#160;&#160;The following terms, as used in this Guaranty,
      shall have the following meanings:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;<u>Bankruptcy
      Code</u>&#8221; shall mean The Bankruptcy Reform Act of 1978 (11 U.S.C. &#167;&#167;101-1330),
      as amended or supplemented from time to time, and any successor statute, and
      any
      and all rules issued or promulgated in connection therewith.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;<u>Beneficiaries</u>&#8221;
      shall mean Administrative Agent and Lenders.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;<u>Guarantied
      Obligations</u>&#8221; shall mean the due and punctual payment of all Indebtedness
      owing by Borrower.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#8220;<u>Indebtedness</u>&#8221;
      shall mean any and all obligations, indebtedness, or liabilities of any kind
      or
      character owed to Beneficiaries by Borrower and arising directly or indirectly
      out of or in connection with the Credit Agreement, the Notes, or the other
      Loan
      Documents (in each case as amended, supplemented, modified or restated from
      time
      to time) plus all of the obligations of the Borrower or any of its Subsidiaries
      under any and all Swap Contracts between the Borrower and any Lender or
      Affiliate of a Lender (or any Person that was a Lender or Affiliate of a Lender
      at the time such Swap Contract was executed) that hedge interest rate exposure
      for Indebtedness, including all such obligations, indebtedness, or liabilities,
      whether for principal, interest (including any and all interest which, but
      for
      the application of the provisions of the Bankruptcy Code, would have accrued
      on
      such amounts), premium, reimbursement obligations, fees, costs, expenses
      (including reasonable attorneys&#8217; fees), or indemnity obligations, whether
      heretofore, now, or hereafter made, incurred, or created, whether voluntarily
      or
      involuntarily made, incurred, or created, whether secured or unsecured (and
      if
      secured, regardless of the nature or extent of the security), whether absolute
      or contingent, liquidated or unliquidated, or determined or indeterminate,
      whether Borrower is liable individually or jointly with others, and whether
      recovery is or hereafter becomes barred by any statute of limitations or
      otherwise becomes unenforceable for any reason whatsoever, including any act
      or
      failure to act by Beneficiaries.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Construction</u>.&#160;&#160;Unless
      the context of this Guaranty clearly requires otherwise, references to the
      plural include the singular, references to the singular include the plural,
      the
      part includes the whole, the term &#8220;including&#8221; is not limiting, and the term &#8220;or&#8221;
has the inclusive meaning represented by the phrase &#8220;and/or.&#8221; The words
&#8220;hereof,&#8221; &#8220;herein,&#8221; &#8220;hereby,&#8221; &#8220;hereunder,&#8221; and other similar terms refer to this
      Guaranty as a whole and not to any particular provision of this
      Guaranty.&#160;&#160;Any reference in this Guaranty to any of the following
      documents includes any and all alterations, amendments, extensions,
      modifications, renewals, supplements or restatements thereto or thereof, as
      applicable: the Loan Documents; the Credit Agreement; this Guaranty; and the
      Notes.&#160;&#160;Neither this Guaranty nor any uncertainty or ambiguity herein
      shall be construed or resolved against Beneficiaries or any Guarantor, whether
      under any rule of construction or otherwise.&#160;&#160;On the contrary, this
      Guaranty has been reviewed by Guarantors, Beneficiaries, and their respective
      counsel, and shall be construed and interpreted according to the ordinary
      meaning of the words used so as to fairly accomplish the purposes and intentions
      of Beneficiaries and Guarantors.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Guarantied
      Obligations</u>.&#160;&#160;Each Guarantor, jointly and severally, hereby
      irrevocably and unconditionally guaranties to Beneficiaries, as and for its
      own
      debt, until final and indefeasible payment thereof has been made, the due and
      punctual payment of the Guarantied Obligations, in each case when and as the
      same shall become due and payable, whether at maturity, by acceleration, or
      otherwise; it being the intent of each Guarantor that the guaranty set forth
      herein shall be a guaranty of payment and not a guaranty of collection;
<u>provided</u>, <u>however</u>, that each Guarantor shall be liable under this
      Guaranty for the maximum amount of such liability that can be incurred without
      rendering this Guaranty, as it relates to such Guarantor, voidable under
      applicable law relating to fraudulent conveyance or fraudulent transfer, and
      not
      for any greater amount.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
      Guarantor represents and warrants to Beneficiaries that (i) neither this
      Guaranty nor any collateral security therefor has been given with an intent
      to
      hinder, delay or defraud any creditor of such Guarantor; (ii) such Guarantor
      is
      not engaged, or about to engage, in any business or transaction for which its
      assets (other than those necessary to satisfy its obligations under this
      Guaranty or those given as collateral security for such obligations) are
      unreasonably small in relation to the business or transaction, nor does such
      Guarantor intend to incur, or believe or reasonably should believe that it
      will
      incur, debts beyond its ability to pay as they become due; and (iii) such
      Guarantor is not insolvent at the time it gives this Guaranty, and the giving
      of
      this Guaranty and any collateral security provided in connection herewith will
      not result in such Guarantor&#8217;s becoming insolvent.&#160;&#160;Each Guarantor
      hereby covenants and agrees that, as long as this Guaranty remains in effect,
      such Guarantor (i) shall incur no indebtedness beyond its ability to repay
      the
      same in full in accordance with the terms thereof; and (ii) shall not take
      any
      action, or suffer to occur any omission, which could give rise to a claim by
      any
      third party to set aside this Guaranty or any collateral given in connection
      herewith, or in any manner impair Beneficiaries&#8217; rights and privileges hereunder
      or thereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Continuing
      Guaranty</u>.&#160;&#160;This Guaranty includes Guarantied Obligations arising
      under successive transactions continuing, compromising, extending, increasing,
      modifying, releasing, or renewing the Guarantied Obligations, changing the
      interest rate, payment terms, or other terms and conditions thereof, or creating
      new or additional Guarantied Obligations after prior Guarantied Obligations
      have
      been satisfied in whole or in part.&#160;&#160;To the maximum extent permitted
      by law, each Guarantor hereby waives any right to revoke this Guaranty as to
      future Indebtedness.&#160;&#160;If such a revocation is effective
      notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees
      that (a)&#160;no such revocation shall be effective until written notice thereof
      has been received by Beneficiaries, (b)&#160;no such revocation shall apply to
      any Guarantied Obligations in existence on such date (including any subsequent
      continuation, extension, or renewal thereof, or change in the interest rate,
      payment terms, or other terms and conditions thereof), (c)&#160;no such
      revocation shall apply to any Guarantied Obligations made or created after
      such
      date to the extent made or created pursuant to a legally binding commitment
      of
      Beneficiaries in existence on the date of such revocation, (d)&#160;no payment
      by any Guarantor, Borrower, or from any other source, prior to the date of
      such
      revocation, shall reduce the maximum obligation of such Guarantor hereunder,
      and
      (e)&#160;any payment by Borrower or from any source other than such Guarantor
      subsequent to the date of such revocation shall first be applied to that portion
      of the Guarantied Obligations as to which the revocation is effective and which
      are not, therefore, guarantied hereunder, and to the extent so applied shall
      not
      reduce the maximum obligations of such Guarantor hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Performance
      under this Guaranty</u>.&#160;&#160;In the event that Borrower fails to make any
      payment of any Guarantied Obligations on or before the due date thereof, each
      Guarantor immediately shall cause such payment to be made.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Primary
      Obligations</u>.&#160;&#160;This Guaranty is a primary and original obligation
      of each Guarantor, is not merely the creation of a surety relationship, and
      is
      an absolute, unconditional, and continuing guaranty of payment and performance
      which shall remain in full force and effect without respect to future changes
      in
      conditions, including any change of law or any invalidity or irregularity with
      respect to the issuance of the Notes.&#160;&#160;Each Guarantor agrees that it
      is directly, jointly and severally with each other Guarantor, liable to
      Beneficiaries, that the obligations of such Guarantor hereunder are independent
      of the obligations of Borrower or any other Guarantor, and that a separate
      action may be brought against such Guarantor, whether such action is brought
      against Borrower or another Guarantor or whether Borrower or any such other
      Guarantor is joined in such action.&#160;&#160;Guarantor agrees that its
      liability hereunder shall be immediate and shall not be contingent upon the
      exercise or enforcement by Beneficiaries of whatever remedies they may have
      against Borrower or any other Guarantor, or the enforcement of any lien or
      realization upon any security Beneficiaries may at any time possess.&#160;&#160;
Each&#160; Guarantor&#160; agrees&#160; that&#160; any&#160;release&#160;
which&#160; may&#160; be&#160; given&#160;<font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">by
      Beneficiaries to Borrower or any other Guarantor shall not release such
      Guarantor.&#160;&#160;Each Guarantor consents and agrees that Beneficiaries
      shall be under no obligation to marshal any property or assets of Borrower
      or
      any other Guarantor in favor of such Guarantor, or against or in payment of
      any
      or all of the Guarantied Obligations.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Waivers</u>.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
      Guarantor hereby waives: (i)&#160;notice of acceptance hereof; (ii)&#160;notice
      of any loans or other financial accommodations made or extended under the Credit
      Agreement, or the creation or existence of any Guarantied Obligations;
      (iii)&#160;notice of the amount of the Guarantied Obligations, subject, however,
      to such Guarantor&#8217;s right to make inquiry of Administrative Agent to ascertain
      the amount of the Guarantied Obligations at any reasonable time;
      (iv)&#160;notice of any adverse change in the financial condition of Borrower or
      of any other fact that might increase such Guarantor&#8217;s risk hereunder;
      (v)&#160;notice of presentment for payment, demand, protest, and notice thereof
      as to the Notes or any other instrument; (vi)&#160;notice of any Default or
      Event of Default under the Credit Agreement; and (vii)&#160;all other notices
      (except if such notice is specifically required to be given to a Guarantor
      under
      this Guaranty or any other Loan Document to which such Guarantor is party)
      and
      demands to which such Guarantor might otherwise be entitled.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To
      the fullest extent permitted by applicable law, each Guarantor waives the right
      by statute or otherwise to require Beneficiaries to institute suit against
      Borrower or to exhaust any rights and remedies which Beneficiaries have or
      may
      have against Borrower.&#160;&#160;In this regard, each Guarantor agrees that it
      is bound to the payment of each and all Guarantied Obligations, whether now
      existing or hereafter accruing, as fully as if such Guarantied Obligations
      were
      directly owing to Beneficiaries by such Guarantor.&#160;&#160;Each Guarantor
      further waives any defense arising by reason of any disability or other defense
      (other than the defense that the Guarantied Obligations shall have been fully
      and finally performed and indefeasibly paid) of Borrower or by reason of the
      cessation from any cause whatsoever of the liability of Borrower in respect
      thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To
      the maximum extent permitted by law, each Guarantor hereby waives: (i)&#160;any
      rights to assert against Beneficiaries any defense (legal or equitable),
      set-off, counterclaim, or claim which such Guarantor may now or at any time
      hereafter have against Borrower or any other party liable to Beneficiaries;
      (ii)&#160;any defense, set-off, counterclaim, or claim, of any kind or nature,
      arising directly or indirectly from the present or future lack of perfection,
      sufficiency, validity, or enforceability of the Guarantied Obligations or any
      security therefor; (iii)&#160;any defense arising by reason of any claim or
      defense based upon an election of remedies by Beneficiaries; (iv)&#160;the
      benefit of any statute of limitations affecting such Guarantor&#8217;s liability
      hereunder or the enforcement thereof, and any act which shall defer or delay
      the
      operation of any statute of limitations applicable to the Guarantied Obligations
      shall similarly operate to defer or delay the operation of such statute of
      limitations applicable to such Guarantor&#8217;s liability hereunder; and (v)&#160;to
      the fullest extent permitted by law, any defense or benefit that may be derived
      from or afforded by law which limits the liability of or exonerates guaranties
      or sureties or requires Beneficiaries to exhaust remedies against the Borrower
      prior to commencing any action or foreclosure against such Guarantor or its
      properties including, without limitation, the benefits of California Civil
      Code
&#167;&#167; 2799, 2808, 2809, 2810, 2815, 2819, 2820, 2821, 2822, 2838, 2839, 2845, 2848,
      2849, and 2850, California Code of Civil Procedure &#167;&#167; 580A, 580B, 580C, 580D,
      and 726, and Chapter 2 of Title 14 of the California Civil
      Code.&#160;&#160;Notwithstanding the foregoing, this Section&#160;6(c) shall not
      be deemed to waive any portion of any right of subrogation, reimbursement,
      contribution or indemnification or similar right that would not be waived
      pursuant to the provisions of Section&#160;6(e).</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Each
      Guarantor agrees that if all or a portion of the Indebtedness or this Guaranty
      is at any time secured by a deed of trust or mortgage covering interests in
      real
      property, Beneficiaries, in their sole discretion, without notice or demand
      and
      without affecting the liability of such Guarantor under this Guaranty, may
      foreclose pursuant to the terms of the Credit Agreement or otherwise the deed
      of
      trust or mortgage and the interests in real property secured thereby by
      non-judicial sale.&#160;&#160;Each Guarantor understands that the exercise by
      Beneficiaries of certain rights and remedies contained in the Credit Agreement
      and any such deed of trust or mortgage may affect or eliminate such Guarantor&#8217;s
      right of subrogation against Borrower and that such Guarantor may therefore
      incur a partially or totally non-reimbursable liability
      hereunder.&#160;&#160;Nevertheless, each Guarantor hereby authorizes and
      empowers Beneficiaries to exercise, in their sole discretion, any rights and
      remedies, or any combination thereof, which may then be available, since it
      is
      the intent and purpose of such Guarantor that the obligations hereunder shall
      be
      absolute, independent and unconditional under any and all
      circumstances.&#160;&#160;Notwithstanding any foreclosure of the lien of any
      deed of trust or security agreement with respect to any or all of any real
      or
      personal property secured thereby, whether by the exercise of the power of
      sale
      contained therein, by an action for judicial foreclosure or by an acceptance
      of
      a deed in lieu of foreclosure, each Guarantor shall remain bound under this
      Guaranty including its obligation to pay any deficiency following a non-judicial
      foreclosure.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1)
      Notwithstanding anything to the contrary elsewhere contained herein or in any
      other Loan Document, until full and final payment of the Guaranteed Obligations,
      each Guarantor hereby waives with respect to Borrower and its respective
      successors and assigns (including any surety) and any other party any and all
      rights at law or in equity, to subrogation, to reimbursement, to exoneration,
      to
      contribution, to setoff or to any other rights that could accrue to a surety
      against a principal, to a guarantor against a maker or obligor, to an
      accommodation party against the party accommodated, or to a holder or transferee
      against a maker and which such Guarantor may have or hereafter acquire against
      Borrower or any other party in connection with or as a result of Borrower&#8217;s
      execution, delivery and/or performance of the Credit Agreement or any other
      Loan
      Document.&#160;&#160;Each Guarantor agrees that it shall not have or assert any
      such rights against Borrower or Borrower&#8217;s successors and assigns or any other
      Person (<u>including</u> any surety), either directly or as an attempted setoff
      to any action commenced against such Guarantor by Borrower (as borrower or
      in
      any other capacity) or any other Person until the Guaranteed Obligations have
      been fully and finally repaid to the Beneficiaries.&#160;&#160;Each Guarantor
      hereby acknowledges and agrees that this waiver is intended to benefit the
      Beneficiaries and shall not limit or otherwise affect any of the Borrower&#8217;s
      liability hereunder, under any other Loan Document to which Borrower is a party,
      or the enforceability hereof or thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;To
      the extent any waiver of subrogation contained in subparagraph (e)(1) is
      unenforceable, each Guarantor shall, until the Guaranteed Obligations shall
      have
      been paid in full and the Commitments shall have terminated and all Letters
      of
      Credit shall have expired or been terminated or canceled, withhold exercise
      of
      (a) any claim, right or remedy, direct or indirect, that such Guarantor now
      has
      or may hereafter have against Borrower or any of its assets in connection with
      this Guaranty or the performance by such Guarantor of its obligations hereunder,
      in each case whether such claim, right or remedy arises in equity, under
      contract, by statute, under common law or otherwise and including without
      limitation (i) any right of subrogation, reimbursement or indemnification that
      such Guarantor now has or may hereafter have against Borrower, (ii) any right
      to
      enforce, or to participate in, any claim, right or remedy that any Beneficiary
      now has or may hereafter have against Borrower, and (iii) any benefit of, and
      any right to participate in, any collateral or security now or hereafter held
      by
      the Beneficiaries, and (b) any right of contribution such Guarantor may have
      against any other Guarantor (including without limitation any such right of
      contribution).&#160;&#160;Each Guarantor further agrees that, to the extent the
      agreement to withhold the exercise of its rights of subrogation, reimbursement,
      indemnification and contribution as set forth herein is found by a court of
      competent jurisdiction to be void or voidable for any reason, any rights of
      subrogation, reimbursement or indemnification such Guarantor may have against
      Borrower or against any collateral or security, and any rights of contribution
      Guarantor may have against any such other Guarantor, shall be junior and
      subordinate to any rights the Administrative Agent or Lenders may have against
      Borrower, to all right, title and interest the Beneficiaries may have in any
      such collateral or security, and to any right the Beneficiaries may have against
      such other Guarantor.&#160;&#160;The Administrative Agent, on behalf of Lenders,
      may use, sell or dispose of any item of collateral or security as it sees fit
      without regard to any subrogation rights any Guarantor may have, and upon any
      such disposition or sale any rights of subrogation Guarantors may have shall
      terminate.&#160;&#160;If any amount shall be paid to any Guarantor on account of
      any such subrogation, reimbursement or indemnification rights at any time when
      all Guaranteed Obligations shall not have been paid in full, such amount shall
      be held in trust for the Administrative Agent on behalf of Lenders and shall
      forthwith be paid over to the Administrative Agent for the benefit of Lenders
      to
      be credited and applied against the Guaranteed Obligations, whether matured
      or
      unmatured, in accordance with <u>Section&#160;12</u> of this
      Guaranty.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Releases</u>.&#160;&#160;Each
      Guarantor consents and agrees that, without notice to or by such Guarantor
      and
      without affecting or impairing the obligations of such Guarantor hereunder,
      Beneficiaries may, by action or inaction, compromise or settle, extend the
      period of duration or the time for the payment, or discharge the performance
      of,
      or may refuse to, or otherwise not enforce, or may, by action or inaction,
      release all or any one or more parties to, any one or more of the Credit
      Agreement, the Notes, or any of the other Loan Documents or may grant other
      indulgences to Borrower in respect thereof, or may amend or modify in any manner
      and at any time (or from time to time) any one or more of the Credit Agreement,
      the Notes, or any of the other Loan Documents, or may, by action or inaction,
      release or substitute any other Guarantor, if any, of the Guarantied
      Obligations, or may enforce, exchange, release, or waive, by action or inaction,
      any security for the Guarantied Obligations (including any collateral) or any
      other guaranty of the Guarantied Obligations, or any portion
      thereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>No
      Election</u>.&#160;&#160;Beneficiaries shall have the right to seek recourse
      against any Guarantor to the fullest extent provided for herein and no election
      by Beneficiaries to proceed in one form of action or proceeding, or against
      any
      Guarantor or other party, or on any obligation, shall constitute a waiver of
      Beneficiaries&#8217; right to proceed in any other form of action or proceeding or
      against any other Guarantor or other parties unless Beneficiaries have expressly
      waived such right in writing.&#160;&#160;Specifically, but without limiting the
      generality of the foregoing, no action or proceeding by Beneficiaries under
      any
      document or instrument evidencing the Guarantied Obligations shall serve to
      diminish the liability of Guarantors under this Guaranty except to the extent
      that Beneficiaries finally and unconditionally shall have realized indefeasible
      payment by such action or proceeding.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Indefeasible
      Payment</u>.&#160;&#160;The Guarantied Obligations shall not be considered
      indefeasibly paid for purposes of this Guaranty unless and until all payments
      to
      Beneficiaries are no longer subject to any right on the part of any person
      whomsoever, including Borrower, Borrower as a debtor in possession, or any
      trustee (whether appointed under the Bankruptcy Code or otherwise) of Borrower&#8217;s
      assets to invalidate or set aside such payments or to seek to recoup the amount
      of such payments or any portion thereof, or to declare same to be fraudulent
      or
      preferential.&#160;&#160;In the event that, for any reason, all or any portion
      of such payments to Beneficiaries is set aside or restored, whether voluntarily
      or involuntarily, after the making thereof, the obligation or part thereof
      intended to be satisfied thereby shall be revived and continued in full force
      and effect as if said payment or payments had not been made and each Guarantor
      shall be liable for the full amount Beneficiaries are required to repay plus
      any
      and all costs and expenses (including attorneys&#8217; fees) paid by Beneficiaries in
      connection therewith.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">3</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Financial
      Condition of Borrower</u>.&#160;&#160;Each Guarantor represents and warrants to
      Beneficiaries that it is currently informed of the financial condition of
      Borrower and of all other circumstances which a diligent inquiry would reveal
      and which bear upon the risk of nonpayment of the Guarantied
      Obligations.&#160;&#160;Each Guarantor further represents and warrants to
      Beneficiaries that it has read and understands the terms and conditions of
      the
      Credit Agreement, the Notes, and the other Loan Documents.&#160;&#160;Each
      Guarantor hereby covenants that it will continue to keep itself informed of
      Borrower&#8217;s financial condition, the financial condition of other guarantors, if
      any, and of all other circumstances which bear upon the risk of nonpayment
      or
      nonperformance of the Guarantied Obligations.</font></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Subordination</u>.&#160;&#160;Each
      Guarantor hereby agrees that after the occurrence and during the continuance
      of
      an Event of Default any and all present and future indebtedness of Borrower
      owing to such Guarantor shall be postponed in favor of and subordinated to
      payment in full of the Guarantied Obligations.&#160;&#160;Each Guarantor agrees
      that amounts paid over to Beneficiaries pursuant to the subordination provisions
      of this Section 11 shall be separate and apart from, and shall not be credited
      to, the liability of such Guarantor pursuant to Section 2.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Payments;
      Application</u>.&#160;&#160;All payment to be made hereunder by any Guarantor
      shall be made in lawful money of the United States of America at the time of
      payment, shall be made in immediately available funds, and shall be made without
      setoff, deduction (whether for Taxes or otherwise) or
      counterclaim.&#160;&#160;All payments made by any Guarantor hereunder shall be
      applied as follows:&#160;&#160;first, to all reasonable costs and expenses
      (including attorneys&#8217; fees) incurred by Beneficiaries in enforcing this Guaranty
      or in collecting the Guarantied Obligations; second, to all accrued and unpaid
      interest, premium, if any, and fees owing to Beneficiaries constituting
      Guarantied Obligations; and third, to the balance of the Guarantied
      Obligations.</font></div>
    <div id="HDR">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Attorneys&#8217;
      Fees and Costs</u>.&#160;&#160;Each Guarantor agrees to pay, on demand, all
      reasonable attorneys&#8217; fees and all other reasonable costs and expenses which may
      be incurred by Beneficiaries in the enforcement of this Guaranty or in any
      way
      arising out of, or consequential to the protection, assertion, or enforcement
      of
      the Guarantied Obligations (or any security therefor), irrespective of whether
      suit is brought.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Notices</u>.&#160;&#160;All
      notices and other communications provided to any party hereto under this
      Guaranty shall be in writing or by facsimile and addressed, delivered or
      transmitted to such party at its address or facsimile number set forth below
      or
      at such other address or facsimile number as may be designated by such party
      in
      a notice to the other parties.&#160;&#160;Any notice, if mailed and properly
      addressed with postage prepaid, shall be deemed given when received; any notice,
      if transmitted by facsimile, shall be deemed given when
      transmitted.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 1px">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 186px">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
                to any Guarantor:</font></div>
            </td>
            <td width="798">
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">c/o
                The McClatchy Company</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2100
                Q Street</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Sacramento,
                CA 95816</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attention:&#160;&#160;Elaine
                Lintecum</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Facsimile:&#160;&#160;(916)
                321-1964</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">With
      a
      copy
      to:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Wilson
      Sonsini Goodrich &amp; Rosati</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">650
      Page
      Mill Road</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Palo
      Alto, California 94304-1050</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 144pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attention:&#160;&#160;Andrew
      Hirsch, Esq.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;Facsimile:&#160;&#160;(650)
      493-6811</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font size="2">If
      to
      Beneficiaries:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Bank of America, N.A.</font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 143.7pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">800
                Fifth Avenue, Floor 32</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 143.7pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Seattle,
                WA 98104</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 143.7pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Mail
                Code:&#160;&#160;WA1-501-32-37</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 143.7pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attention:&#160;&#160;Ken
                Puro</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 143.7pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Facsimile:&#160;&#160;(415)
                343-0559</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 0.699pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 144pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">With
                a copy to:</font></div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Mayer,
                Brown, Rowe &amp; Maw LLP</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">350
                South Grand Avenue</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">25<font style="DISPLAY: inline; FONT-SIZE: 10pt;"><sup>th</sup></font>
                Floor</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Los
                Angeles, California 90071</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attention:&#160;&#160;Brian
                E. Newhouse, Esq.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 144pt">
              <div>&#160;</div>
            </td>
            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Facsimile:
                (213) 625-0248</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">15.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Cumulative
        Remedies</u>.&#160;&#160;No remedy under this Guaranty, under the Credit
        Agreement, the Notes, or any Loan Document is intended to be exclusive of
        any
        other remedy, but each and every remedy shall be cumulative and in addition
        to
        any and every other remedy given under this Guaranty, under the Credit
        Agreement, the Notes, or any other Loan Document, and those provided by
        law.&#160;&#160;No delay or omission by Beneficiaries to exercise any right
        under this Guaranty shall impair any such right nor be construed to be a
        waiver
        thereof.&#160;&#160;No failure on the part of Beneficiaries to exercise, and no
        delay in exercising, any right under this Guaranty </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">shall
        operate as a waiver thereof; nor shall any single or partial exercise of
        any
        right under this Guaranty preclude any other or further exercise thereof
        or the
        exercise of any other right.</font><br></div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">16.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Severability
      of Provisions</u>.&#160;&#160;Any provision of this Guaranty which is prohibited
      or unenforceable under applicable law, shall be ineffective to the extent of
      such prohibition or unenforceability without invalidating the remaining
      provisions hereof.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">4</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">17.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Entire
      Agreement; Amendments</u>.&#160;&#160;This Guaranty constitutes the entire
      agreement among each Guarantor and Beneficiaries pertaining to the subject
      matter contained herein.&#160;&#160;This Guaranty may not be altered, amended,
      or modified, nor may any provision hereof be waived or noncompliance therewith
      consented to, except by means of a writing executed by each Guarantor and
      Administrative Agent.&#160;&#160;Any such alteration, amendment, modification,
      waiver, or consent shall be effective only to the extent specified therein
      and
      for the specific purpose for which given.&#160;&#160;No course of dealing and no
      delay or waiver of any right or default under this Guaranty shall be deemed
      a
      waiver of any other, similar or dissimilar, right or default or otherwise
      prejudice the rights and remedies hereunder.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">18.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Successors
      and Assigns</u>.&#160;&#160;Subject to the terms of the Credit Agreement, this
      Guaranty shall be binding each Guarantor and its successors and assigns and
      shall inure to the benefit of the successors and assigns of Beneficiaries;
      <u>provided</u>, <u>however</u>, no Guarantor shall assign this Guaranty or
      delegate any of its duties hereunder without Beneficiaries&#8217; prior written
      consent and any unconsented to assignment shall be absolutely
      void.&#160;&#160;In the event of any assignment or other transfer of rights by
      Beneficiaries, the rights and benefits herein conferred upon Beneficiaries
      shall
      automatically extend to and be vested in such assignee or other
      transferee.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">19.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Choice
      of Law and Venue; Service of Process</u>.&#160;&#160;THE VALIDITY OF THIS
      GUARANTY, ITS CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT, AND THE RIGHTS
      OF
      EACH GUARANTOR AND BENEFICIARIES, SHALL BE DETERMINED UNDER, GOVERNED BY, AND
      CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT
      REGARD TO PRINCIPLES OF CONFLICTS OF LAW.&#160;&#160;ALL JUDICIAL PROCEEDINGS
      BROUGHT AGAINST ANY GUARANTOR WITH RESPECT TO THIS GUARANTY MAY BE BROUGHT
      IN
      ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE OF NEW YORK,
      AND BY EXECUTION AND DELIVERY OF THIS GUARANTY, GUARANTOR ACCEPTS, FOR ITSELF
      AND IN CONNECTION WITH ITS ASSETS, GENERALLY AND UNCONDITIONALLY, THE
      NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS, AND IRREVOCABLY AGREES TO
      BE
      BOUND BY ANY FINAL JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS GUARANTY
      FROM WHICH NO APPEAL HAS BEEN TAKEN OR IS AVAILABLE.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">20.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Waiver
      of Jury Trial</u>.&#160;&#160;TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH
      GUARANTOR HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY ACTION,
      CAUSE OF ACTION, CLAIM, DEMAND, OR PROCEEDING ARISING UNDER OR WITH RESPECT
      TO
      THIS GUARANTY, OR IN ANY WAY CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE
      DEALINGS OF GUARANTORS AND </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">BENEFICIARIES
      WITH RESPECT TO THIS GUARANTY, OR THE TRANSACTIONS RELATED HERETO, IN EACH
      CASE
      WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING
      IN CONTRACT, TORT, OR OTHERWISE.&#160;&#160;TO THE MAXIMUM EXTENT PERMITTED BY
      LAW, EACH GUARANTOR HEREBY AGREES THAT ANY SUCH ACTION, CAUSE OF ACTION, CLAIM,
      DEMAND, OR PROCEEDINGS SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND
      THAT
      BENEFICIARIES MAY FILE AN ORIGINAL COUNTERPART OF THIS SECTION WITH ANY COURT
      OR
      OTHER TRIBUNAL AS WRITTEN EVIDENCE OF THE CONSENT OF SUCH GUARANTOR TO THE
      WAIVER OF ITS RIGHT TO TRIAL BY JURY.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">21.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Joint
      and Several Liability</u>.&#160;&#160;The liability of the Guarantors hereunder
      shall be joint and several.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">5</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">IN
      WITNESS WHEREOF, each of the undersigned has executed and delivered this
      Guaranty as of the day and year first written above.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>MCCLATCHY
                NEWSPAPERS, INC.</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Chief
                Financial Officer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>EAST
                COAST NEWSPAPERS, INC.</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President and Assistant Secretary</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>THE
                NEWS AND OBSERVER PUBLISHING COMPANY</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President and Assistant Secretary</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>TACOMA
                NEWS, INC.</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President and Assistant Secretary</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>SAN
                LUIS OBISPO TRIBUNE, LLC</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">By:&#160;
                The McClatchy Company</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                its Sole Member</font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Finance and Chief Financial</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Officer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">6</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>MCCLATCHY
                MANAGEMENT SERVICES, INC.</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;President</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>MIAMI
                HERALD MEDIA COMPANY</strong></font></div>
              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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                Treasurer</font></div>
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          </tr>

      </table>
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          <tr>
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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                Treasurer</font></div>
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          </tr>

      </table>
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          <tr>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
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          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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                Treasurer</font></div>
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          </tr>

      </table>
    </div>
    <div><br></div><br>
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      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">7</font></div>
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          <hr style="COLOR: black" noshade size="2">
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
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    <div>
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          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>SUN
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              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
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          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>NITTANY
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>COLUMBIA
                STATE, INC.</strong></font></div>
              <div>&#160;</div>
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                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>THE
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              <div>&#160;</div>
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>WICHITA
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              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
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                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>PACIFIC
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              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Executive
                Vice President and Assistant</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                Corporate Secretary</font></div>
            </td>
          </tr>

      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman;">8</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
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    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>LEXINGTON
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              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
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            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President and Assistant Secretary</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>CYPRESS
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              <div>&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">/s/
                Patrick J. Talamantes</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Name:&#160;&#160;Patrick
                J. Talamantes</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Title:&#160;&#160;&#160;&#160;Vice
                President, Assistant Secretary and</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Assistant
                Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="44%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>OAK
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            </td>
          </tr>
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