April 13, 2008 --  Harris DeWese has announced the publication of The Compass Report 2008.  DeWese reported, "This marks eighteen years that our Report has covered Printing Industry M&A activity and printing segment valuation information.  This year we are mailing the Report with our compliments to more than 1,800 printing industry CEOs and executives who are managing the industry's largest companies."

DeWese commented, "This Report details 73 transactions up sharply from 41 during 2006.  RR Donnelley and InnerWorkings led all  buyers with four transactions followed by Cenveo with three deals."

DeWese reported, "Our M&A deal flow is heavy at this time and buyer interest is strong despite the uncertainty of the weak economy in an election year.  We have fourteen sale engagements and several more sellers in the wings.  Values are in the range of 4 to 7 times EBITDA depending on the size, segment and quality of the selling company.  Most client CEOs are telling me that they believe this economic downturn will pass in 9-12 months but meanwhile they must continue to grow with better sales efforts internally and externally by acquisition."

DeWese remarked, "Our data base of transactions dates back to 1989 and contains more that 1,200 deals where either the buyer or seller had sales of more than $5.0 million.  It also contains either actual or estimated total consideration paid to the seller.  Reading it is fascinating because it is the lineage of our companies in all segments in 2008.

DeWese and David Leskusky, North American Publishing Group President and Printing Impressions Publisher, also announced a distribution arrangement with Printing Impressions where non-printing company executives can order the 199 page Report at the bookstore on the www.piworld.com web site.