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                                                                    EXHIBIT 99.1

                                 HOLLINGER INC.
                             PROVIDES STATUS UPDATE

         Toronto, Canada, July 29, 2004 -- 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 was
issued. These guidelines contemplate that Hollinger will normally provide
bi-weekly updates on its affairs until such time as it is current with its
filing obligations under applicable Canadian securities laws.

         Hollinger continues to devote resources to the completion and filing of
its financial statements as soon as practicable and is encouraged by recent
developments. As previously announced, the Litigation Committee of the board of
directors of Hollinger authorized the commencement of legal proceedings to
compel access to the financial records and management personnel of Hollinger
International Inc. ("Hollinger International") and the working papers of
Hollinger International's auditors in order to allow for the preparation and,
where required, audit of Hollinger's financial statements. Thereafter, at the
request of Hollinger International, a meeting was held in this regard with
representatives of Hollinger and representatives of Hollinger International and
its Special Committee. As a result of this meeting, the Litigation Committee
instructed counsel to temporarily hold the commencement of the applicable legal
proceedings in abeyance.

         Hollinger International has now indicated it is prepared in principle
to co-operate with and assist Hollinger and its auditors in the audit of
Hollinger's 2003 annual financial statements and to assist in obtaining the
co-operation of Hollinger International's auditors, and has set out a process
for so doing. Hollinger and Hollinger International are pursuing, on a without
prejudice basis, the conclusion of mutually acceptable arrangements to permit
the audit of Hollinger's 2003 annual financial statements begin as soon as
possible.

         As of the close of business on July 28, 2004, Hollinger had
approximately US$10.8 million of cash or cash equivalents on hand and owned,
directly or indirectly, 792,560 shares of Class A Common Stock and 14,990,000
shares of Class B Common Stock of Hollinger International. The decrease in
Hollinger's cash and cash equivalents on hand during the period since its July
15, 2004 status update is substantially due to Hollinger's contribution to the
payment of the monetary portion of the order and final judgment of the Delaware
Chancery Court requiring Hollinger and Conrad Black to repay certain non-compete
payments to Hollinger International. Based on the July 28, 2004 closing price of
the shares of Class A Common Stock of Hollinger International on the New York
Stock Exchange of US$15.80, the market value of Hollinger's direct and indirect
holdings in Hollinger International was US$249,364,448. All of Hollinger's
direct and indirect interest in the shares of Class A Common Stock of Hollinger
International are being held in escrow with a licensed trust company in support
of future retractions of its Series II Preference Shares and 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 Hollinger's senior
secured notes due 2011.

         Further to Hollinger's press release dated June 29, 2004 which
announced the appointment of Mr. Adrian M.S. White as Interim Chief Financial
Officer of Hollinger, such

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appointment has not in fact become effective as Mr. White and Hollinger were
unable to resolve terms of such appointment satisfactory to both parties.

         Hollinger's principal asset is its approximately 68.0% voting and 18.2%
equity interest in Hollinger International. Hollinger International is a global
newspaper publisher with English-language newspapers in the United States, Great
Britain and Israel. Its assets include The Daily Telegraph, The Sunday Telegraph
and The Spectator and Apollo magazines in Great Britain, the Chicago Sun-Times
and a large number of community newspapers in the Chicago area, The Jerusalem
Post and The International Jerusalem Post in Israel, a portfolio of new media
investments and a variety of other assets.

Media contact:
Jim Badenhausen
646-805-2006

                              www.hollingerinc.com