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Cadmus Communications Adopts Financial VantagePoint

Press release from the issuing company

December 5, 2002 - VantagePoint Systems, Inc. today announced that Cadmus Communications Corporation has adopted Financial VantagePoint to standardize machine and labor cost rates across ten plants. Financial VantagePoint replaces spreadsheet technology to provide controllers and plant managers with the ability to analyze and adjust cost rates to improve profitability. "Cadmus continues to focus on improving the tools with which we can analyze production costs and improve efficiencies. We are always searching for new ways to improve our bottom line. We knew that we needed to standardize cost rates across all of our operations," said vice president and corporate controller at Cadmus, Bruce Willis. "Financial VantagePoint will help us to do that and it will enable us to pinpoint some of the underlying factors that cause similar production facilities to achieve differing levels of success. We are optimistic that this process will allow us to take appropriate action to make better business decisions and improve consistency and performance across all of our plants." Joe Crowe, plant controller and Bill Harding, manager of analysis, will pilot the software in their location at the Cadmus Specialty Publications plant in Richmond, VA. "We saw the value that Financial VantagePoint could add to our work immediately," said Crowe. "Every year we spend a significant amount of time trying to assess the impact of investment decisions, and understanding the cost and business implications associated with pricing major contracts. Financial VantagePoint enables us to model these scenarios on the fly." Financial VantagePoint delivers a powerful solution for financial controllers in packaging operations. Determine real run costs, set optimum cost rates and forecast budgets, cash flows & balance sheets - all based on actual plant data and 'what-if' scenarios. Users can import financial data from existing systems and set up the program in one to three days with the help of a VantagePoint professional. The interface is easy to use and it automatically generates graphic reports that are clear and easy to understand, making cost modeling less tedious and removing the guesswork from decision- making. The price per plant is US $10,000.