Champion Reports Net Loss for Quarter, Fiscal Year

At Oct. 31, 2011, Champion had approximately $48.8 million of interest bearing debt of which $47.6 million is syndicated. The syndicated debt has been reduced by approximately $37.9 million since inception of the debt, which resulted primarily from the acquisition of The Herald-Dispatch in September 2007. This represents a reduction of over 44.3 percent in a period slightly over four years.