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QTI and Penn Graphics Sign Licensing Agreement for Stackers and Bundlers

Press release from the issuing company

Sussex, WI - May 20, 2002 - QTI and Penn Graphics, Hamburg, Pennsylvania, signed a licensing agreement on April 2, 2002, conferring exclusive manufacturing and distribution rights for the SMC Horizontal Stacker and Bundler product line to Penn Graphics. Under the terms of the agreement, Penn Graphics will offer the following models: 650 horizontal brick stacker, 700ILF stacker, 1000 horizontal stacker bundler and the 2000 series horizontal stacker bundlers. QTI will continue to manufacture and market the 3000 Series Vertical Stacker Bundler and the 5000 Series Palletizer worldwide. QTI will continue to support all existing SMC horizontal stackers currently in the marketplace. Penn Graphics will be responsible for fully supporting all products it sells under the SMC name. Ben Scheffler founded Penn Graphics in 1986, and he remains the company's president. His two sons, Brian and Greg, have joined the business and currently fill the roles of Vice President of Manufacturing, and Vice President of Sales and Engineering respectively. The company's first operations were the reconditioning of Stobb and SMC equipment. Penn Graphics began manufacturing new stackers in 1995. For further product and pricing information on Penn Graphics' products, please contact Greg Scheffler at 610-488-7414. QTI is the world's leading manufacturer of auxiliary controls for the web offset printing industry. Primarily known for its award-winning color and register control systems, QTI also designs and manufactures other press control systems, material handling equipment and a complete line of finishing control products. It sells and services its products worldwide, and has sold products in more than 85 countries thus far. QTI is registered to ISO 9001. QTI acquired the SMC name and product line in 1997.