The announced today that it has agreed to acquire the Group of a purchase rice of approximately $550 million in cash. Subject desktop to regulatory approval, the acquisition is expected to close in the fourth quarter of. Upon completion, will become a wholly owned subsidiary of. is a leading producer and marketer of dated and time management products. The addition of , which produces, manufactures and markets wire-bound diaries and appointment books, desk and wall calendars, posters, calendars organizers, planners and related accessories, represents another step in stated strategy of growing the company''s core businesses of coated desktop and specialty papers, packaging calendars and paperboard, and school and office products. Headquartered in the Group of annual sales of approximately $325 million and earnings before interest, desktop and calendars taxes, depreciation and amortization of approximately $70 million in the fiscal year ended. The company''s sales have doubled desktop over the past four years, primarily as a result of product development and calendars strategic acquisitions.

The world''s leading calendar and poster manufacturer, has produced quality planning, organizing and record-keeping products for individuals'' personal and professional use. The Company''s slogan "Your Life, Your Way" illustrates its consistent dedication to providing desktop individuals calendars and desktop with products and services to help them manage their time calendars and balance the various aspects of their life. Recognized numerous times with industry awards from the Calendar Association, School and Home Office Products, continues to distance desktop itself from its competition and increase its market share through innovative product development, creative marketing programs, and excellent customer service and calendars support. The Company has instituted desktop and calendars a major marketing initiative to celebrate the coming millennium through special edition products, desktop consumer promotions, and the Millennium Tour, an interactive museum which will travel throughout the United States calendars offering individuals the once-in-a-lifetime chance to celebrate the history of the passing millennium.