ENGLEWOOD, Colo., Oct. 18 -- Mail-Well, Inc., announced today the results for the quarter and nine months ended September 30, 2001. The results for continuing operations before restructuring charges were $0.04 per share on sales of $412 million during the third quarter and $0.20 per share on $1.26 billion in sales for the year-to-date. The corresponding results for the "new'' Mail-Well which excluded the results of assets held for sale were $0.02 per share on $386 million of sales for the third quarter and $0.13 per share on $1.18 billion of sales for the year-to-date. As part of Mail-Well's previously announced consolidation of certain Envelope plants and other restructuring programs, a charge of $5.4 million was taken during the quarter. As a result, the Company lost $1.6 million during the quarter or $0.03 per share. During the quarter, the Company's total operations including discontinued operations and assets held for sale generated $15 million of free cash flow or $0.32 per share. In total for the year-to-date, free cash flow generated reached $106 million or $2.22 per share, well in excess of the full year target of $100 million. Paul Reilly, Chairman, President and CEO, stated, "during these very troubled political and economic times, we have continued to successfully focus on our commitments to our shareholders. These commitments are to ensure that the Company increases the year-over-year free cash flow from operations, that our continuing operations meet the financial targets that are part of our strategic growth plan, and that we aggressively carry out the elements of our strategic plan. When fully implemented in 2003, we expect that the improvements to EBITDA will be in excess of the annual $38 million target.'' "The process for the sale of Label and Printed Office Products Segments and other non-core assets is proceeding as planned. Each property is in the marketing stage and we fully expect to have at least identified the winning bidder by year-end,'' continued Reilly.