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EFI Announces Exchange Ratio for Shares of Printcafe

Thursday, October 16, 2003

Press release from the issuing company

FOSTER CITY, Calif.--Oct. 15, 2003-- Electronics For Imaging, the world leader in imaging solutions for network printing, announced today the exchange ratio for shares of common stock of Printcafe Software, Inc. in connection with EFI's proposed acquisition of Printcafe. If the proposed merger is completed, each share of Printcafe common stock for which a valid election is made before the election deadline of 5:00 p.m. New York City time on October 20, 2003 will be converted into the right to receive 0.1048 of a share of EFI common stock plus cash in lieu of fractional interests. If the merger is completed, shares of Printcafe common stock as to which a valid election was not received in time will be converted into the right to receive $2.60 in cash. The exchange ratio was calculated as provided in the Merger Agreement between EFI and Printcafe dated February 26, 2003. The exchange ratio assumes that the Printcafe stockholders' meeting to approve the merger will take place, as currently scheduled, on October 21, 2003. The merger remains subject to the approval of Printcafe's stockholders and the satisfaction of customary closing conditions. EFI and Printcafe expect to complete the proposed merger promptly after adoption of the merger agreement by Printcafe's stockholders.

 

 

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