September 28, 2004

Belo Corp. to hold media briefing on the circulation investigation at The Dallas Morning News

The media is invited to participate in a briefing regarding the investigation of circulation matters at The Dallas Morning News and the Company's updated operating strategy. Two separate press releases related to these matters will be issued on Wednesday, September 29, 2004, at approximately 7:30 a.m. The teleconference for media will be held on Wednesday, September 29, 2004, at 2:00 PM EDT.

Robert Decherd, chairman, president and chief executive officer, and Carey Hendrickson, vice president/investor relations, will host the teleconference. Brief opening remarks will be followed by a question and answer session.

If you wish to participate in the question and answer portion of the media briefing, please dial 877-209-9920.

The briefing will also be available through a live audio Webcast. To access the briefing on the Web, go to www.belo.com/invest, click "Calendar", and then click "Webcast" in the September 2004 events section. The Webcast is a "listen only" format.

If you are unable to participate in Belo's media briefing, a replay will be posted on the Company's Website within 24 hours after the call. To hear the replay, follow the same steps used to access the live audio Webcast. A replay line will be open from 4:00 p.m. CDT on September 29 until 11:59 p.m. CDT on October 6, 2004. To access the replay, dial 800-475-6701 or 320-365-3844. The access code for the replay is 748072.

Please note that Mr. Decherd will also host an investor conference call at 10:00 AM EDT on Wednesday, September 29, 2004, where he will make remarks regarding the investigation and answer questions from analysts and investors. To access the listen-only conference lines for this call, dial 877-777-1967.

If you have any questions, please call Jake Martinez at 214-977-6815.