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Nipson SAS Acquires Xeikon France S.A., Nipson America Established

Press release from the issuing company

May 22, 2002 -- The Court of Commerce of Belfort, France has accepted an offer from Koonras Digital Printing Systems Ltd. (KDPS) to acquire the activities and intellectual property of Xeikon France, including the taking over of 268 of its current employees. Xeikon France, maker of high-speed digital black & white printing systems, had been operating under creditor protection pursuant to applicable French legislation since November 13, 2001. The newly established company has been named Nipson SAS, reviving the name that was in use prior to Xeikon's acquisition of the business in 1999. Nipson SAS is a 100% subsidiary of Nipson Digital Printing Systems B.V., which is owned by KDPS. KDPS is entirely focused on digital printing, and is owned by Koonras Technologies Ltd. and private investors. Marc Blanpain, who has served as General Manager of Xeikon Japan Ltd. since August 2000, will assume the general management of Nipson SAS. In the United States, Nipson America, Inc. has been formed, and will assume marketing, sales, and support responsibilities for the line of digital presses throughout North America. Alain Flament, former Director of Business Development for Xeikon America's black & white products, will assume the position of President of this new U.S. subsidiary. Nipson America will be headquartered in Chicago, Illinois and will maintain a nationwide staff of sales, marketing, and customer support. The company's products will be marketed worldwide under the Nipson brand. Koonras Technologies Ltd. is a holding company with interests in over 25 companies in various technological fields. Its management has substantial experience in the field of digital printing. KDPS has been one of Xeikon France's most important distributors for over 10 years with more than 100 presses installed.