World Color Completes Acquisition of UP/Graphics and Affirms Outlook

GREENWICH, CONN. (April 5) BUSINESS WIRE -April 5, 1999--World Color Press, Inc. (NYSE:WRC) today announced that it has completed the purchase of UP/Graphics, Inc. UP/Graphics is one of the largest general commercial printers in New England as well as being a leading specialty printer of carded packaging. UP/Graphics had pro-forma revenues of approximately $86 million in 1998. The transaction is expected to be accretive to earnings this year. Terms of the transaction were not disclosed.

UP/Graphics operates from three state-of-the-art facilities located in Providence, RI; Pawtucket, RI; and Westwood, MA. The 550-employee company has enjoyed sustained growth while maintaining an outstanding level of customer focus and quality. Universal Press, the company's commercial printing division, specializes in complex, multi-color, high-resolution commercial printing. Universal's products include annual reports, brochures, catalogs and posters. Packaging Graphics, the company's carded packaging division, is a rapidly growing, full-service producer of packaging cards and custom plastic thermoformed materials. UP/Graphics' blue chip customer base includes Bank Boston, EMC, Fleet, Gillette, Harcourt Brace, Hasbro, Putnam, Museum of Fine Arts and Schick-Warner Lambert.

Robert G. Burton, Chairman and CEO of World Color said:

"As I stated on our February 4th conference call, I expect that 1999 will be a record year for World Color in terms of both financial results and acquisitions. As we get set to release first quarter earnings on April 21, 1999, I continue to be bullish on our prospects for the year. The completion of UP/ Graphics marks the third acquisition we have closed this year and brings 1999's acquired run-rate revenue to over $150 million. World Color continues to see strong organic revenue growth across all of our business lines and in the industry in general. Additionally, we continue to hold discussions with many acquisition candidates in high growth segments of the industry. I look forward to discussing this acquisition as well as our first quarter results and full year outlook with investors on our April 22, 1999 conference call."

World Color, headquartered in Greenwich, Connecticut, is a leader in the management and distribution of print and digital media information. The Company specializes in the production and distribution of content for customers in the commercial, magazine, catalog, book, direct mail and directory markets. Founded in 1903, World Color employs over 16,500 employees and operates 55 facilities with a network of sales offices nationwide.

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties which may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include, among others, changes in customers' demand for the Company's products, changes in raw material and equipment costs and availability, seasonal changes in customer orders, pricing actions by the Company's competitors, changes in estimates of the readiness of the Company or its vendors and customers with regard to Year 2000 issues and the significance of costs thereof, and general changes in economic condition. Those and other risks are more fully described in the Company's filings with the Securities and Exchange Commission.

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CONTACT: World Color Press Inc., Greenwich

          James E. Lillie, 203/532-4242 

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