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Rexam Image Products Sale Completed, New Identity Announced

Press release from the issuing company

Sun Capital Partners, Inc. Completes Purchase of Precision Contract Coating and Coated Products Manufacturer SOUTH HADLEY, Mass.- June 17, 2002-- InteliCoat Technologies, LLC, formerly Rexam Image Products, LLC, the precision coating division of Rexam PLC, announced today the completion of the company's acquisition by private investment firm Sun Capital Partners, Inc. of Boca Raton, Fla. A global leader in contract coating of papers, films, foils and other specialty substrates, InteliCoat joins Sun Capital Partner's portfolio of some 30 companies with combined sales in excess of US$3.0 billion. With a 70-year legacy of designing, engineering and manufacturing specialty coated products, InteliCoat will target the growing global need for high-performance precision materials. These include digital imaging substrates and such specialized materials as dry film resist, battery elements and medical components. "Our goal as InteliCoat is to develop and provide precision coating solutions that uniquely address today's manufacturing challenges. We will accomplish this based upon our capabilities of producing highly advanced coated materials backed by our technology and management practices all to meet the changing needs of the marketplace," said Robert W. Champigny, president of InteliCoat. "The purchase of our company by Sun Capital enables us to focus exclusively on our core business - specialty coated products - and build upon historical strengths in research and development, manufacturing and marketing. It represents a tremendous opportunity for InteliCoat to utilize the expertise the company has developed over many years." The acquisition includes the organization's six manufacturing facilities in the United States and Europe, in addition to its sales and marketing offices and distribution locations in Australia, Europe, North and South America. The company employs approximately 800 people worldwide including management, scientific, engineering, manufacturing, sales and administrative personnel. "Our organization is, and always has been, a dynamic company. As such, it continues to evolve to address market changes and generate new solutions to customer challenges," added Champigny. "InteliCoat will build upon this long tradition of excellence through its ability to deliver innovative new products and processes, develop coating solutions for the manufacturing and imaging sectors, as well as serve new market segments with precision coated materials that can revolutionize their manufacturing and products." InteliCoat has two strategic business units - Digital Imaging and Electronic & Engineered Films - which remain the primary sources of the company's market development and growth. In addition to its unique, world-class contract coating capabilities, InteliCoat brings specialty coated manufactured products to market globally via agreements with various channels including original equipment manufacturers, private label distributors and under its own brands: Jet Set drafting papers & films, Magic graphic arts papers & films, My Project paper for educational applications, Proof It proofing papers, Unusuwalls digital wall covering , Inspire medical components, Reflex hardcoats, the Tecnilith family of products including Duratool and Artwork Protect films for electronics manufacturing. The InteliCoat management team, headed by Champigny, has been in place for the last six years. During its tenure, the team has successfully guided the company through the challenges of technology shifts, global economic uncertainty and competitive pressures. A 12-year employee of the company, Vice President and General Manager R. Susan Hurt heads up the Digital Imaging business unit. The Digital Imaging unit creates products for the commercial digital printing industry, including wide and grand format media for the graphic arts and technical design segments in print-for-pay and in-plant operations. For desktop digital printing, the Digital Imaging unit manufactures and markets narrow format, sheet media. Among its most recent developments are digitally printed wall coverings and specialty media for education markets. The Electronic & Engineered Films business unit is led by Vice President and General Manager Stephen Polston, who has been with the company for more than 17 years. Electronic & Engineered Films provides contract coating services and branded products to the electronics, medical, and other high-tech industries. This unit has worked in close partnership with leading manufacturers the world over to develop and refine coating processes for flexible circuit laminates, battery components, conductive films, ceramic tapes, optically clear films and medical components. Tom Dickie is Managing Director of InteliCoat in Europe and is responsible for strategic direction in that region. He has been with the company for 13 years. InteliCoat's European operation constitutes one-third of the company's worldwide manufacturing facilities. InteliCoat is firmly committed to European markets and provides the region's manufacturers with technical expertise and advanced coating facilities. With a highly experienced, multi-discipline staff and a complete range of coating resources, the European-based business is crucial to InteliCoat's global strategy. InteliCoat personnel and facilities in Europe enable customers to achieve efficient development, simplified logistics and convenient interaction while working in or from their own facilities in the European community.

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