(Norwell, MA) August 6, 2002... CAP Ventures, Inc., the leading worldwide strategic consulting firm for the document technology industry, today announced a new multi-client study entitled The Future of Paper. CAP Ventures research shows that total annual U.S. paper volume grew to 6.9 trillion pages in 2000 from 4.0 trillion pages in 1980. However, the annual growth rate of printing and writing papers decreased from 4% in the eighties to only 2% in the nineties. The annual growth rate of newsprint has fallen to less than 1%. More importantly, within the overall market, some segments experienced double digit growth while other segments declined. “The 1990s was a turbulent decade categorized by industry consolidation within the paper manufacturers, equipment vendors, and print providers,” commented Norman McLeod, the study’s project manager. “Much of this change was due to the shifting demand for printed documents.” This study will provide a comprehensive assessment of U.S. paper consumption by key grades, end use applications, and print environments over the next 20 years. The project will include extensive research with technology vendors, paper manufacturers, distributors, print providers, corporate print buyers, and end consumers. Key aspects of the study will include: * Development and adoption trends of key technologies (display, communications, storage, printing)    * Use of print and electronic media by major applications (publishing, promotional, transaction, office, recreational)    * 20-year demand forecast by key paper grades, applications, and environments (print for pay, office, home)    * Strategic implications on production capacity, market focus, distribution, and other factors “Demand for printed documents and paper will continue to experience varying growth rates by application, grade, and other factors,” noted Jeffrey Hayes, Research Director at CAP Ventures. “Understanding the underlying technology trends and customer behavior is essential for making strategic decisions on corporate assets, product development, distribution, and brand management.” With every new technological advance, more threats and opportunities for print emerge. Paper manufacturers and equipment vendors need to periodically re-establish a set of baseline assumptions for their strategic planning. CAP Ventures’ multi-client study is designed to provide companies with the research insights, trend analysis, forecasts, and industry outlook that their management teams need. Companies can now arrange for advanced participation at a discounted price and help direct the focus of the research. CAP Ventures will deliver The Future of Paper in the first quarter of 2003. For more information, please access our Web site at or contact Scott Phinney at (781) 871-9000, ext. 123.