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Courier Completes Acquisition of Dover Publications

Press release from the issuing company

NORTH CHELMSFORD, Mass., Sept. 25 -- Courier Corporation (Nasdaq: CRRC), the nation's fifth-largest book manufacturer, today announced it has completed the acquisition of Mineola, New York-based Dover Publications, Inc. for $39 million in cash. On August 15, 2000, Courier announced a definitive agreement to purchase 100 percent of Dover's stock. Dover, with calendar year 1999 revenues of approximately $32 million, is a renowned, privately held publisher of special-interest books with more than 7,000 in-print titles in over 30 specialty categories. The acquisition is expected to have minimal impact on earnings through fiscal 2001, and to be accretive to earnings thereafter. It is being accounted for as a purchase for accounting purposes and was financed through an existing $60 million bank credit line.

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