NORTHBROOK, Ill.--Nov. 12, 2002--In the latest phase of its Operational Excellence Program, General Binding Corporation today announced the formation of the Industrial and Print Finishing Group to target high-end users in the professional print and finishing markets. This strategic re-alignment is a continuation of GBC's transformation towards a customer-oriented organization with a strong, brand-based marketing and selling approach. The new Industrial and Print Finishing Group, comprised of the former Films Group and the Automated Finishing and Automated Solutions divisions, will specifically target "print-for-pay" and other finishing customers who use GBC's professional-grade finishing equipment and supplies. These customers include book publishers, facilities management companies, quick-print retail chains, reprographic centers and others. IPFG will also serve as a consolidation point for all of the Company's current relationships with business partners who incorporate GBC's punching and binding equipment onto their own high-capacity copiers and printers for re-sale. Additionally, IPFG will be a launching pad for all future GBC partnerships with industry leaders in the finishing market to develop sophisticated, automated binding and laminating solutions. President of the new IPFG group will be John Turner, former President of GBC's Films Group. "The formation of the Industrial and Print Finishing Group is another step in our drive to more closely align our sales and marketing activities around customers and consumers," said Dennis Martin, GBC's Chairman of the Board, President and CEO. "With John's track record of leadership in serving the technically sophisticated graphic-arts and commercial lamination markets, and the new alignment of our organization to focus our efforts on these markets, we have laid a strong foundation for future growth in this category." GBC has also expanded the focus of its national service group, re-named Technical Service and Support, to better serve the market for high-end technical service and maintenance. In addition, the Company announced that it has moved its Education Division from the Films Group to its new Commercial and Consumer Group led by Group President Dave Hewitt. CCG was created in September by combining the Company's Office Products and Document Finishing Groups. "While IPFG targets the industrial printing and finishing market," Mr. Martin said, "CCG will continue to focus on branding and marketing strategies that leverage GBC's leadership among consumers of its binding, laminating and information-display products at work, at school and at home. These moves to re-align marketing, sales and support functions around customers as well as eliminate operational overlap are important parts of our Operational Excellence Program," he continued. "Operational Excellence was launched 18 months ago to improve GBC's overall performance and help create opportunities for continued, profitable growth." GBC is a world leader in products that bind, laminate, and display information so people can accomplish more at work, home and at school. GBC's products are marketed under the GBC, Quartet and Ibico brands, and they help people organize and communicate ideas and enhance printed materials.