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Moore Announces Intention To Offer $400 Million Of Senior Notes

Press release from the issuing company

MISSISSAUGA, Ontario & STAMFORD, Conn.--Feb. 26, 2003-- As reported a few weeks ago, Moore Corporation Limited has confirmed its intention to offer $400 million principal amount of Senior Notes due 2013 in connection with its acquisition of Wallace Computer Services, Inc. The Notes will be issued by Moore North America Finance, Inc. and, following the closing of the Wallace acquisition, will be guaranteed by Moore, Moore North America, Inc., Wallace Computer Services, Inc., their U.S. and Canadian subsidiaries and certain of their foreign subsidiaries. The net proceeds will initially be deposited in an escrow account pending the completion of the Wallace acquisition and upon the release of the funds from the escrow account, Moore intends to use the net proceeds, together with cash and bank borrowings, to finance the Wallace acquisition and refinance substantially all of the debt of Moore and Wallace.