NORTHBROOK, Ill.--General Binding Corporation (Nasdaq: GBND) announced today that William Chambers Jr. has been promoted to Senior Vice President - Global Strategic Initiatives. Mr. Chambers will be responsible for product and manufacturing rationalization as well as strategic reviews of GBC's worldwide operations, and he will continue to be a member of the task forces on supply chain projects, new business initiatives, and management development. Mr. Chambers has been Chief Operating Officer of GBC's Office Products Group since 1999 overseeing its North American operations and is credited with significantly improving its results. From 1997 to 1999, he was Vice President and Chief Financial Officer of GBC and was responsible for the company's treasury, accounting, tax, and budgeting functions, as well as the comprehensive pan-European cost reduction initiatives. He joined GBC in 1995 as its Director of Manufacturing Development with various responsibilities including the review and implementation of the company's strategic manufacturing plan. Prior to GBC, Mr. Chambers was CEO of a Chicago-based custom exhibit manufacturing and service company and has had a broad-based financial career which includes serving as Vice President and Controller of Lane Industries, GBC's majority stockholder, as well as senior positions at Arthur Young & Co. "We are very pleased that Bill has accepted these new responsibilities," said Govi Reddy, President and Chief Executive Officer. "We have given Bill significant challenges which he has enthusiastically taken on and made substantial contributions. He has done a great job in guiding the Office Products Group back to stability and improved profitability. With his broad background at GBC and impressive leadership experience, we are confident that Bill will make significant and immediate contributions to GBC's management team and shareholder value." GBC is an innovative global technology leader in document finishing, film lamination, visual communications and paper shredder products. GBC's products are marketed in over 115 countries under the GBC, Quartet, Ibico, VeloBind, Shredmaster, Bates, Sickinger, Pro-Tech, and Fordigraph brands and are used in the commercial, business, educational, home office and governmental markets.