An agreement that would end a 12-week pressmen's strike against The New York Times and the Daily News was described yesterday by labor leader as "90 percent complete." But they added they would not seek quick ratification.

William J. Kennedy, president of striking Printing Pressmen's Union No. 2 described the contract as almost settled yesterday after reviewing an outline of the proposed pact set down by labor adviser Theodore W. Kheel.

While Kheel did not identify the opera items, it was known that they were the question of six-year job guarantees for all 1.508 pressmen at the papers, including the now-publishing New York Post, working conditions at the Daily News color printing plant in Queens and the size of press maintenance crews.

Kennedy said that because of a commitment to the Newspaper Deliveries Union in repayment for its support, he had no plans for quick raticiation action.

That shadowed the hopes that The Times and the New would be back in circulation by the weekend.

Several other stricking unions must be dealt with before a return a work, but George E. McDonald, head of an umbrella newspaper labor organization, said he anticipated quick settlements once the pressmen were in accord.