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Delphax Signs Three-Year With Harland Clarke Corp.

Friday, March 14, 2008

Press release from the issuing company

MINNEAPOLIS, Mar. 13, 2008-Delphax Technologies Inc. (Nasdaq:DLPX) announced today that it has signed a three-year extension to  its existing service and supply contract with Harland Clarke Corp., the largest user of Delphax's Imaggia sheet-fed digital print systems.

With the contract extension, Delphax will continue to provide full maintenance service, spare parts, consumable supplies and other support-related needs for the Imaggia presses through December 31, 2011, unless earlier terminated.  The service contract had been due to expire at the end of 2008.  Based on current production levels, Delphax expects the deal to provide revenues in excess of $50 million through the extended contract period, including the remainder of the existing contract.

"Our partnership with Harland Clarke continues to reflect the productivity advantages of a high-speed digital print system that meets the highest worldwide standards for encoded check production," said Dieter Schilling, president and chief executive officer of Delphax.  "Harland Clarke is an important partner of Delphax, and we look forward to continuing this mutually beneficial relationship, while at the same time demonstrating our ongoing commitment to the security printing market."

The Imaggia is the most advanced printing system with features and functionality aimed at the needs of the high-volume security-printing industry.  With models that feature document throughput of 300 8.5x11-inch pages per minute, the Imaggia boasts the world's fastest digital sheet-fed capability.




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