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R.R. Donnelley to Close St. Petersburg Printing Facility

Press release from the issuing company

CHICAGO, February 5, 2001 -- R.R. Donnelley & Sons Company (NYSE: DNY) today announced it will close its St. Petersburg, Florida, telephone directory printing facility on February 16. "After careful review, we determined the facility, which is the smallest in our operation, lacks the scale necessary to support the current and future needs of our customers," said Ronald E. Daly, president, Telecommunications. "By consolidating our efforts and transferring St. Petersburg's workload to other facilities, R.R. Donnelley can further maximize operating efficiencies and more effectively meet our customers' needs." The St. Petersburg facility, which was acquired from GTE in 1998, employs 120 people. Daly said that after carefully and thoroughly reviewing the business under a variety of marketplace scenarios, the company determined that the best decision was to close the facility. "I want to emphasize that this decision is in no way a reflection on the hard work or dedication of our St. Petersburg employees. We will make every effort to assist affected employees during this difficult time as they plan for the future," said Daly. In addition to separation packages, R.R. Donnelley will offer job search assistance to affected employees. Products currently produced at the St. Petersburg facility will be transferred to other R.R. Donnelley plants. Some of the equipment will be moved to other R.R. Donnelley plants. The company plans to seek a buyer for the building.

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