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X-Rite Acquires Industrial and Ink Formulation Software Company

Press release from the issuing company

GRANDVILLE, Mich.--June 2, 2004-- X-Rite today announced it has acquired Moniga Gremmo S.r.l., an industrial and ink formulation software company based in Milan, Italy. Under the terms of the acquisition, X-Rite obtains all operating assets, software code, intellectual property, and customer relationships of Moniga Gremmo. "The acquisition of Moniga Gremmo is a significant step in our effort to strengthen X-Rite's industrial color solutions worldwide," said Joan Andrew, X-Rite's Vice President of Global Sales. "Moniga Gremmo's software is well accepted in Europe, a strategic growth market for our company. We believe the integration of their software with our current offering will enhance our line of complete color solutions for the industrial markets we serve worldwide." Moniga Gremmo's software includes specific features commonly used in industrial markets such as inks, paints, plastics, textiles, cosmetics, and foods, where color quality control is a critical component to business efficiency. "This acquisition, X-Rite's fourth in Europe, demonstrates our long term commitment to our European customers," said Xavier Leroy, Managing Director, X-Rite Mediterranee.