HOLLINGER INC.
                         STATUS UPDATE: OCTOBER 21, 2005

         TORONTO, Ontario, October 21, 2005 -- Hollinger Inc. ("Hollinger")
(TSX: HLG.C; HLG.PR.B) provides the following update in accordance with the
guidelines pursuant to which the June 1, 2004 management and insider cease trade
order, as amended, was issued. These guidelines contemplate that Hollinger will
provide bi-weekly updates on its affairs until such time as it is current with
its filing obligations under applicable Canadian securities laws. Reference
should be made to Status Update Reports and other press releases that have been
previously filed by Hollinger and which are available on SEDAR at www.sedar.com.

Recent Events

         The Board of Directors of Hollinger has established a Litigation
Committee, comprising Stanley Beck, David Drinkwater and Newton Glassman, to
oversee and provide guidance regarding litigation involving Hollinger.

         A scheduling hearing in the enforcement proceedings against Hollinger
and others brought by the Ontario Securities Commission, originally returnable
October 11, 2005, has been adjourned to November 16, 2005.

         Hollinger has brought a motion seeking direction with respect to
certain entitlements claimed by former directors. A schedule for the exchange of
materials and hearing of the motion will be established by the Court on October
25, 2005.

         A motion brought by Hollinger, returnable October 5, 2005, seeking an
Order compelling the release of certain hard drives so that Hollinger may comply
with a subpoena from the U.S. Securities & Exchange Commission ("SEC") has been
adjourned to October 27, 2005.

Financial Statements

         As previously reported, Hollinger's 2003 and 2004 annual financial
statements cannot currently be completed and audited for various reasons.

         Hollinger has also been unable to file its annual financial statements,
Management's Discussion & Analysis and Annual Information Form for the years
ended December 31, 2003 and 2004 on a timely basis as required by Canadian
securities legislation. Hollinger has not filed its interim financial statements
for the fiscal quarters ended March 31, June 30 and September 30, 2004 and March
31 and June 30, 2005.

         Hollinger has released financial information in the form of an
unaudited consolidated balance sheet as at September 30, 2004, together with
notes thereto, prepared on an alternative basis (the "Alternative Financial
Information"). The Alternative Financial Information, which may be found as part
of Hollinger's press release issued on March 4, 2005, was prepared by the
management of Hollinger at that time and was not audited or reviewed by
Hollinger's auditors.



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         Hollinger's Board of Directors has established an Audit Committee,
which will consider alternatives to provide additional financial information to
the public

Inspection

         Ernst & Young Inc. (the "Inspector") is continuing the inspection (the
"Inspection") of certain of Hollinger's related-party transactions pursuant to
an Order of Mr. Justice Campbell of the Ontario Superior Court of Justice. The
Inspector has provided nine interim reports with respect to its inspection of
Hollinger. The Inspector is expected to provide a further report to the Court by
October 31, 2005.

         Through October 14, 2005, the cost to Hollinger of the Inspection
(including the costs associated with the Inspector and its legal counsel, as
well as Hollinger's legal counsel) is in excess of C$12.9 million.

         Hollinger and its staff continue to give their full and unrestricted
assistance to the Inspector in order that it may carry out its duties, including
access to all files and electronic data.


Supplemental Financial Information

         As of the close of business on October 14, 2005, Hollinger and its
subsidiaries (other than Hollinger International and its subsidiaries) had
approximately US$60.0 million of cash or cash equivalents on hand, including
restricted cash, other than as described separately below. At that date,
Hollinger owned, directly or indirectly, 782,923 shares of Class A Common Stock
and 14,990,000 shares of Class B Common Stock of Hollinger International. Based
on the October 14, 2005 closing price of the shares of Class A Common Stock of
Hollinger International on the New York Stock Exchange of US$9.12, the market
value of Hollinger's direct and indirect holdings in Hollinger International was
US$143.8 million. All of Hollinger's direct and indirect interest in the shares
of Class A Common Stock of Hollinger International are being held in escrow in
support of future retractions of its Series II Preference Shares. All of
Hollinger's direct and indirect interest in the shares of Class B Common Stock
of Hollinger International are pledged as security in connection with the Notes.
In addition to the cash or cash equivalents on hand noted above, Hollinger has
previously deposited: (a) approximately C$8.5 million in trust with the law firm
of Aird & Berlis LLP, as trustee, in support of Hollinger's indemnification
obligations to six former independent directors and two current officers; and
(b) approximately US$572.0 thousand in cash with the trustee under the Indenture
governing the Senior Notes as collateral in support of the Senior Notes (which
cash collateral is also collateral in support of the Second Secured Notes,
subject to being applied to satisfy future interest payment obligations on the
outstanding Senior Notes).

         There is currently in excess of US$137.3 million aggregate collateral
securing the US$78 million principal amount of the Senior Notes and the US$15
million principal amount of the Second Secured Notes outstanding.

Ravelston Receivership and CCAA Proceedings



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         On April 20, 2005, Mr. Justice James Farley of the Ontario Superior
Court of Justice (the "Court") issued two orders by which The Ravelston
Corporation Limited ("Ravelston") and Ravelston Management Inc. ("RMI") were:
(i) placed in receivership pursuant to the Courts of Justice Act (Ontario) (the
"Receivership Order"); and (ii) granted protection pursuant to the Companies'
Creditors Arrangement Act (Canada) (the "CCAA Order"). Pursuant thereto, the
Receiver was appointed receiver and manager of all of the property, assets and
undertakings of Ravelston and RMI. On May 18, 2005, Mr. Justice Farley further
ordered that the Receivership Order and the CCAA Order be extended to include
Argus Corporation Limited and five of its subsidiary companies which
collectively own, directly or indirectly, 61.8% of the outstanding Retractable
Common Shares of Hollinger (collectively such entities, including Ravelston and
RMI are referred to as the "Ravelston Entities"). The Court has extended the
stay of proceedings against the Ravelston Entities to January 18, 2006.

         On August 18, 2005, the United States Attorney for the Northern
District of Illinois (the "US Attorney") returned an indictment (the
"Indictment") against Ravelston and others pursuant to which they have been
charged with five counts of mail fraud and two counts of wire fraud in violation
of Title 18, United States Code, Sections 1341, 1343, 1346, and 2. Neither
Ravelston nor the Receiver on behalf of Ravelston has been served with the
Indictment.

         On October 3, 2005, the Receiver brought a motion seeking certain
relief and direction with respect to the Indictment. Specifically, the Receiver
requested that the Court grant an Order authorizing and directing the Receiver
on behalf of Ravelston to voluntarily accept service of the summons to the
Indictment and voluntarily appear and enter a plea of not guilty on behalf of
Ravelston. The Court granted this relief on October 4, 2005. Counsel for Conrad
Black has appealed that decision. Counsel for Mr. Black has further asserted
that an automatic stay applies. A motion was brought, returnable October 11,
2005, in the Court of Appeal to determine, inter alia, the stay issue. On
October 11, 2005, the Court determined that a single judge did not have the
jurisdiction to decide the motion. Therefore a full panel of the Court of Appeal
must be convened. As a result, the motion was heard by a panel of judges on
October 18, 2005. The Court of Appeal reserved its decision.

Company Profile

         Hollinger's principal asset is its approximately 66.8% voting and 17.4%
equity interest in Hollinger International, a newspaper publisher with assets
which include the Chicago Sun-Times, a large number of community newspapers in
the Chicago area, and a portfolio of news media investments. Hollinger also owns
a portfolio of commercial real estate in Canada. Further information can be
obtained at www.hollingerinc.com.

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MEDIA CONTACT:
John Lute
Lute & Company
416 929 5883
jlute@luteco.com