HOUSTON, May 12 -- Consolidated Graphics, Inc. announced today that its Board of Directors had reached certain conclusions in connection with its previously announced evaluation of strategic alternatives to enhance shareholder value. In particular, the Board has concluded that continuation of its current strategic plan, supplemented by a share repurchase program, provides the best current opportunity to maximize shareholder value, reflecting the Company's strong market position and future growth prospects. The Board reached this conclusion following an extensive process that included the Company's management as well as its legal and financial advisors. The Company's current strategic plan is focused on achieving industry- leading sales and profit growth through ongoing investment in new technology and equipment and execution of a disciplined acquisition program. The Company's share repurchase program authorized by the Board provides for the repurchase of its issued and outstanding common shares up to an aggregate amount of $68.3 million. This amount represents the current maximum permitted amount of stock repurchases that can be made pursuant to the terms of the Company's primary bank credit facility. Such repurchases may be made from time to time in open-market purchases or in privately negotiated block purchase transactions. The amount and timing of any purchases will depend upon a number of factors, including the attractiveness of the price and availability of the Company's shares and general market conditions.