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Cunningham Graphics Acquires Boston-based Cranberry Graphics

Tuesday, May 21, 2002

Press release from the issuing company

JERSEY CITY, NJ---May 20, 2002 -- Cunningham Graphics International (CGI), a division of the Investor Communication Services unit of Automatic Data Processing announced today that it has acquired the greater-Boston area printer Cranberry Graphics. Cranberry Graphics, based in Plymouth Massachusetts, is a provider of multi-color and single color printing solutions to a diverse base of clients. Cranberry Graphics is best known for its superior quality and client service when producing both sheetfed and web printed products. The acquisition of Cranberry Graphics was completed to support ADP's strategy to provide a complete suite of investor communication services to its Mutual Fund and Corporate Issuer client base in the greater-Boston marketplace. Chris Holbrook, General Manager of CGI commented, "The Boston market offered numerous acquisition opportunities. We spent a significant amount of time assessing the market, and are extremely pleased with our decision to move forward with Cranberry Graphics." Rich Daly, co-president of ADP Brokerage Services Group said, "This acquisition supports our commitment to our clients to provide a complete end-to-end solution for the management of shareholder communications products. The Boston market is a vital element of this strategy, as home to so many major mutual fund and insurance industry leaders. We see tremendous opportunity for growth in this marketplace."




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