Former CEO Paul Peyrebrune remains with the company until December 2002 Wood Dale, IL (August 22, 2002) – Punch International today announced the appointment of Ivan Verheye as new President and CEO of its subsidiary Xeikon America, Inc. Mr. Verheye will combine this function with that of President of Strobbe, Inc., already part of the Punch Group, a position he has held since 1984. Paul Peyrebrune, who has served as Xeikon America’s President and CEO since July 1997, has agreed to remain with the company as Chief Operating Officer until the end of the year. This will ensure a smooth transition and provide management continuity for Xeikon America. Ivan Verheye, a native of Belgium, has lived and worked in United States since 1978. He came to the US to set up the North American operations of Strobbe, Inc., a manufacturer of CTP and pre-press systems for the business forms and direct mail industries. With Mr. Verheye as President, Strobbe has continuously increased its sales and market share in North America. Mr. Verheye has been an active member of the international board of directors of IADT (formerly IBFI) from 1999-2001. "I look forward to serving as Xeikon America’s President and CEO," says Verheye. "Over the past couple of months I have worked closely with Paul Peyrebrune and his management staff. I am convinced that Xeikon America has the products, the in-house expertise, a successful customer base and now a financially strong parent to capitalize on the opportunities of the growing market of production digital color printing. I have worked closely and have gotten to know the Punch Group since their takeover of Strobbe in January 2000. Their focus and support will be a great help in further developing Xeikon’s US market potential." "It was an honor serving as Xeikon America’s President and CEO for the past five years," says Peyrebrune. "We can all be proud of our steady growth, customer focus and the successes of Xeikon America. I am pleased to be able to support Mr. Verheye and the Xeikon America team to retain their leadership position in production digital color printing."