September 12, 2003 –(Paramus, NJ) Colter & Peterson, Inc., a leading supplier and servicer of paper cutters, announced that it has purchased the paper cutter and paper drill assets of Dexter-Lawson Manufacturing. One of the oldest names in the paper cutter industry with over 100 years of operation, Dexter-Lawson closed its doors on June 24, 2003. Prior to the acquisition, Colter & Peterson was already the largest organization in the U.S. supplying parts and service for Lawson paper cutters. Bruce Peterson, President of Colter & Peterson, commented, “Although we do not intend to continue manufacturing Lawson paper cutters, anyone with a Lawson paper cutter can depend on Colter & Peterson to meet their future requirements. Providing service and parts support for Lawson paper cutters is a core part of our business.” Peterson noted that customers looking for a new paper cutter or paper handling equipment can now choose from eight manufacturers and dozens of options. In fact, he said, “Our size selection (30” to 165”) is far greater than that formerly offered by Dexter-Lawson. We can also offer used and reconditioned machines from various manufacturers in all sizes.” Colter & Peterson will house the Lawson paper cutter parts inventory in its newly expanded Paterson, New Jersey technical facility. For parts or service support for Lawson paper cutters, customers can contact Colter & Peterson at 1-800-932-0780. Some former Dexter-Lawson service personnel have joined Colter & Peterson and will continue their service support roles. The acquisition of the Dexter-Lawson assets completes a busy 18 months for Colter & Peterson. In March, 2002 the company purchased the remaining assets of the Harris-Seybold paper cutter business. Just two months later, Colter & Peterson acquired the assets of Amatco USA, including a parts, service and rebuilding center in Johnston, Iowa. And in June, 2003 Colter & Peterson purchased all microcut assets from GMS in San Rafael, California. Reviewing his company’s rapid expansion, Bruce Peterson remarked, “The Dexter-Lawson acquisition firmly establishes Colter & Peterson as the premier source for paper cutters, paper handling equipment, paper cutter parts and service support in North America.” In a related transaction, Colter & Peterson, Inc has sold the Dexter-Lawson paper drill assets to DHP Bindery Equipment and Supply of Pensacola, Florida. Joe Miller, President of DHP said, “Purchasing the Lawson paper drill business is an exciting step forward for our company. We will now be able to manufacture a complete range of paper drills by incorporating Lawson equipment into our existing drill line. Our ability to provide drill bits as well as parts and service for Lawson paper drills has also been enhanced and will allow us to better meet the needs of customers.” DHP will manufacture drills and provide support from its Florida location. They can be reached at 1-850-465-0263.