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Standard Register's Continued Listing Plan Accepted by NYSE

Tuesday, September 30, 2014

Press release from the issuing company

DAYTON, Ohio--Standard Register announced today that the New York Stock Exchange (NYSE) has accepted the Company's plan for continued listing. As a result, the Company's common stock will continue to be listed on the NYSE subject to quarterly reviews by the NYSE to monitor the Company's progress against the compliance plan. Standard Register earlier announced that it had been notified that it was not in compliance with the requirement for average market capitalization of more than $50 million over a 30-day trading period and, at the same time its shareholders' equity was less than $50 million.

Under applicable NYSE procedures, Standard Register was required to submit a business plan to demonstrate its ability to achieve compliance. Standard Register submitted its confidential plan, which provided a forward looking view into performance expectations, including the final phase of the integration of the WorkflowOne acquisition, improving revenue performance for legacy and growth solutions, and proactive management of its pension liability and funding requirements. Standard Register will be required to achieve the minimum continued listing standards of either average market capitalization over a consecutive 30 trading-day period of $50 million or total shareholders' equity of $50 million at the completion of the prescribed plan period that terminates on July 9, 2015, unless the listing is reassessed prior to that date.

"The NYSE's acceptance of our business plan gives us additional confidence and motivation," said Joseph P. Morgan, Jr., president and chief executive officer. "The integration is proceeding on schedule and is ahead of our expectations in some respects, the investments we have made in support of our growth solutions are producing results and the Company is reducing its pension funding obligation by approximately $33 million through 2016 as a result of the Highway and Transportation Funding Act of 2014. Our plan is focused on increasing revenue and gross margin over the long-term, and we are energized by the acceptance of our plan by the NYSE. Now we must accelerate the execution of the strategy."


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