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M. Lee Smith publishers division purchased by Parris Printing

Tuesday, September 26, 2006

Press release from the issuing company

NASHVILLE, Tenn., Sept. 25 -- M. Lee Smith Publishers and Parris Printing announced today that they have reached tentative agreement on a long-term partnership which included the purchase of M. Lee Smith Publishers' printing division. Terms of the sale were not disclosed, however, both parties did confirm that in entering into a long-term exclusive agreement, Parris Printing would provide substantially all printing and fulfillment needs for M. Lee Smith Publishers. Robert Johannes, Vice President of Operations, commented, "Today, we have entered a new era for Parris Printing. We are providing our printing and our long-term commitment to the sheet-fed print market in a relationship that we both feel is truly beneficial to each organization. With the expansion of digital print and non-print-related offerings we are gaining with this partnership, we have fulfilled a major long-term goal of becoming the largest integrated sheet-fed print and related services provider in the area." "With this agreement, we have gained a passionate print partner with an ownership team that is committed to continuous improvement, reinvestment in the industry, and the ability to print at a national award level in a timely fashion. This will allow M. Lee Smith Publishers to focus exclusively on the publishing side of our business with confidence that our printing and mailing needs will be taken care of by a trusted partner," said Dan Oswald, President of M. Lee Smith Publishers. Both parties expect little employment impact on the operating workforce. With the agreement, Parris Printing will have approximately 98 full-time employees with 2007 projected annual sales in excess of $14 million dollars. Parris Printing is a sheet-fed-only, large-format printing company located at 211 Whitsett Road in Nashville, Tennessee. They provide print and related services to a wide gamut of corporate, advertising, marketing, and publishing customers. Established in 1992, it is owned by Ritchie Parris and Robert Johannes. M. Lee Smith Publishers is a leading provider of newsletters, manuals, conferences, and videos for the human resources and legal communities. Established in 1975, it is owned by Dan Oswald.




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