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GBC Names Gary Coughlan as New Director

Press release from the issuing company

Northbrook, IL, May 16, 2001 -- General Binding Corporation (Nasdaq: GBND) announced today that Gary P. Coughlan has been named to its Board of Directors. "We are delighted to have a seasoned financial executive with Gary’s financial and business development skills with us on the Board of Directors," said Dennis Martin, GBC’s Chairman, President and CEO. "His wide-ranging experiences across a variety of corporate environments allow him to bring valuable strategic and management insight and expertise to GBC to help us execute our commitment of maximizing shareholder value." Mr. Coughlan’s career spans over 30 years of high-level financial experience across a variety of industries. From 1990 until his retirement in March 2001, he was Senior Vice President, Finance and Chief Financial Officer of Abbott Laboratories, a global, diversified health care company which markets its products in more than 130 countries. His responsibilities included treasury, controllership, tax, audit, corporate strategy and development, investor relations, public affairs, information technology, e-commerce, administration and purchasing. Prior to Abbott, he was with Kraft Foods and its predecessor companies from 1980 to 1990, serving in various financial capacities, ending with the responsibilities of Senior Vice President and Chief Financial Officer. Prior to that, Mr. Coughlan had broad-based finance and business development positions at various companies including Dart Industries and Burroughs Corporation. Mr. Coughlan has been active in various outside business and civic activities, and he currently serves on the Boards of Arthur J. Gallagher & Co., the Chicago Botanic Garden, and the Catholic Charities of Chicago.

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