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Cadmus Communications Expands Global Packaging Presence

Press release from the issuing company

RICHMOND, VA (May 19, 2003) -- Cadmus Communications Corporation today announced that its Specialty Packaging division has entered into an exclusive production agreement with a Dominican Republic subsidiary of International Paper to manufacture packaging materials in a new facility in the Dominican Republic. The start up of this operation, in conjunction with existing affiliate manufacturers in Costa Rica and Mexico, positions Cadmus as a single source to manage the package production for United States-based marketers of goods being made or assembled throughout the Caribbean Rim and into South America. “Our packaging business is really a brand management business,” said Jerry Lux, President of Cadmus’ Specialty Packaging division. “Through our Global Packaging Solutions unit, we manage the creation of brand reproduction standards for packaging domestically and also manage the production of those products “in country” throughout the world through our network of certified and affiliated manufacturers. This comprehensive outsource solution allows our customers to manage their brands with increased effectiveness while also reducing lead times and system-wide manufacturing, transportation, and inventory costs.” Commenting further on the announcement, Bruce V. Thomas, president and chief executive officer of Cadmus, said “the global network of affiliates we have established, together with the project management team and infrastructure we have built, will play an important role in helping us to sustain the double digit growth we have seen in our specialty packaging business. Importantly, this highly differentiated business model also should permit us to offer significantly higher value-added services and drive improved returns on capital in this business. We are currently looking