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GBC Names Tom Hargrove as New Director

Press release from the issuing company

NORTHBROOK, Ill.-Feb. 26, 2001--General Binding Corporation (Nasdaq: GBND) announced today that G. Thomas Hargrove has been named to its Board of Directors. "We are pleased to have Tom with us on the Board of Directors," said Jim Miller, GBC's Chairman. "His wide-ranging experiences across a variety of corporate environments allow him to bring valuable strategic and general management insight and expertise to GBC to help us execute our commitment of maximizing shareholder value." Mr. Hargrove's career spans over 30 years of operational and financial experience, primarily in the manufacturing and distribution of consumer products through various retail channels. His most recent experience was with privately-held Cullman Ventures, Inc. where he was the Executive Vice President and Chief Operating Officer as well as Chairman of the At-A Glance Group, the leading manufacturer of calendars, diaries, appointment books, organizers and related time management products which operated in the highly-demanding office products channel. He held these positions until 1999 when At-A-Glance was acquired by Mead Corporation.

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