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Mail-Well Announces Improved Profitability ENGLEWOOD, Colo., Nov. 3 /PRNewswire-FirstCall/ -- Mail-Well, Inc., announced its results for the third quarter and nine-month period ended September 30, 2003. The net income for the quarter was $2.2 million, or $0.04 per share on a diluted basis, and $2.6 million or $0.05 per share on a diluted basis, for the nine months of 2003, on sales of $412 million and $1,247 million, respectively, compared to a net loss of $28.0 million, or $0.59 per share, and a net loss $199.5 million, or $4.19 per share, on sales of $429 and $1,293 million during the same periods of 2002. In the three months ended September 30, 2002, Mail-Well's net loss included a charge for restructuring of $39.4 million and a loss of $5.8 million on disposal of discontinued operations, none of which occurred in 2003. (Logo: http://www.newscom.com/cgi-bin/prnh/19990429/MAILWELLLOGO ) EBITDA for the quarter and the first nine months of 2003 was $33.5 million and $93.0 million, respectively, compared to the $33.4 million and $82.1 million achieved by ongoing operations in the same periods in 2002 representing a 13.2% improvement year to date. An explanation of the Company's use of EBITDA for comparative purposes is provided below. Net cash provided by operating activities in the quarter ended September 30 2003 was $13.5 million and $33.6 million for the nine months then ended. Paul Reilly, Chairman, President and CEO, stated, "The third quarter results were very much in line with our expectations. The year over year increased profitability in the Commercial Printing segment has continued as expected and has offset the decline experienced in both the Envelope and Printed Office Products segments, which despite continuing competitive pricing pressures continue to return margins in the double digit range. We continue to expect that the full year 2003 will show EBITDA in a range of $130 to $135 million in line with our comments when we issued our second quarter results." Reilly also stated, "While we continue to control costs, pay down debt and generally manage our business to counteract the continuing soft economic conditions in our businesses, we are investing significant time and resources to develop our people, organization and facilities to grow our positions in all of our markets. We are confident that the mobilization of our employees to better serve our customers and the organization of our operations around our customers' needs, will generate renewed top line growth." Mail-Well will hold a conference call today, Monday November 3rd at 1:00 p.m. Eastern Time (12 noon Central, 11:00 a.m. Mountain, 10:00 a.m. Pacific Time). To participate in the Mail-Well conference call, please dial in to 1-866-482-6973 and provide conference ID 3857367. Please call 5-7 minutes before the call is to begin. The conference call will also be available via webcast. To listen to the webcast, go to http://www.mail-well.com/, http://www.streetevents.com/, or http://www.fulldisclosure.com/. If you are unable to join the Mail-Well conference call, you may access a replay of the call starting Monday, November 3rd, 2003 at 4:00 pm Eastern Time until Midnight Eastern Time, November 10th, 2003. To access the replay, please dial 866-219-1444 and reference the conference ID 3857367. EBITDA (earnings before interest, taxes, depreciation and amortization) should not be considered as an alternative to any measure of operating results as promulgated under accounting principles generally accepted in the United States (such as operating income or net income), nor should it be considered as an indicator of our overall financial performance. EBITDA does not fully consider the impact of investing or financing transactions as it specifically excludes depreciation and interest charges, which should also be considered in the overall evaluation of results. Additionally, our method of calculating EBITDA may be different from the method used by other companies and therefore comparability may be limited. EBITDA has not been provided as a measure of liquidity. The Supplemental Information to the press release includes the Company's Statement of Cash Flows. We use EBITDA as a supplemental measure of performance because we believe it gives the reader a more complete understanding of our operating results before the impact of investing and financing transactions. The comparison presented is net of certain adjustments made in 2002 for divested operations and restructuring charges. A reconciliation of net income (loss) under GAAP to EBITDA, and a reconciliation of EBITDA as reported to ongoing EBITDA, are presented in the Supplemental Information to this press release. Mail-Well (NYSE:MWL) is one of North America's leading providers of visual communications with one-stop services from design through fulfillment. The company's broad portfolio of services and products include e-services, envelopes, offset and digital printing, as well as printed office products. The company is uniquely positioned by serving both direct customers through their commercial segment as well as wholesalers and value-added resellers through its resale segment. Mail-Well currently has approximately 10,000 employees and more than 85 locations throughout North America. The company is headquartered in Englewood, Colorado. This press release may contain certain forward-looking statements of management. It should be understood that all such statements are subject to various uncertainties and risks that could affect their outcome. Factors which could cause or contribute to such differences include, but are not limited to, the ability to execute strategic initiatives, economic conditions, product demand and sales, ability to obtain assumed productivity and cost savings, interest rates, foreign currency exchange rates, paper and raw material costs and the ability to pass them through to customers, waste paper prices, postage rates, union relations, competition and competitors' actions, availability of financing, and changes in the direct mail industry. Please refer to the company's 10-K, 10-Q and other SEC filings for a more detailed discussion of the risks. None of management's statements in this release should be considered an offer to sell or a solicitation of an offer to buy Mail-Well securities. NOTE: News Releases and other information on Mail-Well can be accessed at http://www.mail-well.com/. Financial Highlights (dollars in thousands, except per share data) (unaudited) Three months ended Nine months ended September 30 September 30 2003 2002 2003 2002 Consolidated Results Net sales $412,218 $428,720 $1,247,363 $1,293,169 Gross profit 81,877 85,235 244,672 252,105 Operating income (loss) 22,023 (15,972) 56,925 (46,895) Income (loss) from continuing operations 2,172 (22,149) 1,020 (101,509) Gain (loss) on disposal of discontinued operations -- (5,804) 1,919 (13,958) Cumulative effect of change in accounting principle -- -- (322) (111,748) Net income (loss) $2,172 $(27,953) $2,617 $(199,531) Income (loss) per share from continuing operations - assuming dilution $0.04 $(0.46) $0.02 $(1.55) Income (loss) per share - assuming dilution $0.04 $(0.59) $0.05 $(4.19) Segment Information Net sales: Commercial Printing $195,090 $194,659 $579,690 $559,140 Envelope 167,608 183,352 517,510 579,495 Printed Office Products 49,520 50,709 150,163 154,534 Total $412,218 $428,720 $1,247,363 $1,293,169 Operating income (loss): Commercial Printing $6,539 $(5,586) $11,230 $(17,549) Envelope 16,037 10,415 47,930 29,280 Printed Office Products 3,996 4,865 12,618 13,540 Corporate services and other charges (4,549) (25,666) (14,853) (72,166) Total $22,023 $(15,972) $56,925 $(46,895) EBITDA *: Commercial Printing $13,072 $2,838 $30,451 $6,593 Envelope 20,631 16,152 62,139 47,235 Printed Office Products 5,285 6,365 16,710 18,180 Corporate (5,534) (30,949) (17,223) (49,094) Total $33,454 $(5,594) $92,077 $22,914 Operating income margins: Commercial Printing 3.35% (2.87%) 1.94% (3.14%) Envelope 9.57% 5.68% 9.26% 5.05% Printed Office Products 8.07% 9.59% 8.40% 8.76% EBITDA margins*: Commercial Printing 6.70% 1.46% 5.25% 1.18% Envelope 12.31% 8.81% 12.01% 8.15% Printed Office Products 10.67% 12.55% 11.13% 11.76% Financial Position September 30, December 31, 2003 2002 Working capital $98,702 $100,330 Total assets 1,108,733 1,107,367 Total debt 761,347 763,899 Shareholders' equity 63,666 42,768 * See Appendix 2 in the Supplemental Information to the Press Release for the definition of EBITDA, reconciliation to net income and the reasons why EBITDA is a relevant non-GAAP financial measure for Mail-Well. Supplemental Information to the Press Release For the Third Quarter Ended September 30, 2003 Released November 3, 2003 Third quarter ended September 30, 2003 Page Financial and Operational Summary and Recent Developments 1, 2 Consolidated Balance Sheets 3 Consolidated Statements of Operations 4 Consolidated Cash Flow Statements 5 Segment Results 6 Appendix 1 - Impacts of Divestitures and Restructuring Activities on Ongoing Operations 7 Appendix 2 - Reconciliation of Net Income to EBITDA 8 Certification of Financial Statements 10 Financial and Operational Summary and Recent Developments Three months ended September 30, 2003 Financial and Operational Summary Consolidated results: Excluding results of operations that have been sold and restructuring, impairments and other charges, ongoing consolidated sales decreased $6.8 million in the third quarter and ongoing operating income decreased $0.6 million compared to the same periods in 2002. Included in the results of operations for the quarter is a $1.5 million charge related to a negative development on certain workers compensation claims incurred prior to 2003. Commercial Printing: Ongoing sales increased $3.8 million in the third quarter of 2003 as compared to the same period in 2002. Ongoing operating income improved $4.0 million in the third quarter of 2003 over the third quarter of 2002. The improvement in operating income was attributed primarily to an acquisition completed in August 2002, the closure of our unprofitable operation in New York City and a reduction in fixed expenses as a result of our restructuring actions. Envelope: Ongoing sales were $9.4 million lower in the third quarter of 2003 compared to the second quarter of 2002. Approximately 60% of this revenue decline in the second quarter was due to a decline in units shipped and the remaining 40% was due to lower average selling prices. Ongoing operating income for the third quarter was $3.0 million below results in 2002. This was due primarily to lower sales volume and lower average selling prices. Printed Office Products: Sales decreased $1.2 million and ongoing operating income decreased $1.1 million in the third quarter of 2003 compared to the third quarter of 2002 primarily due to lower sales of multiply traditional business forms and competitive pricing pressures. We believe these sales declines are consistent with sales declines in the industry. Sales of our specialty products and our label products are comparable to sales in the prior year. Debt: Financial Accounting Standards Board Interpretation No. 46, Consolidation of Variable Interest Entities, an Interpretation of Accounting Research Bulletin No. 51 was implemented in the second quarter. This resulted in the addition of long-term debt to the balance sheet, which as of September 30, 2003, was $15.9 million. Cash flow used to reduce debt in the quarter was approximately $7 million. Capital expenditures: During the nine-month period ended September 30, 2003, capital expenditures were $19.7 million as compared to $26.9 million during the same period last year. Availability: Credit available under our credit facility was $113 million at the end of third quarter 2003. Financial and Operational Summary and Recent Developments Recent Developments -- On October 27, 2003 the Company announced a company-wide reorganization by which the company is aligning itself more closely with its customers. The company will be organized into two business segments: Commercial (serving the needs of direct customers) and Resale (serving wholesalers and value-added resellers). Prior to this change, Mail-Well was organized around three product lines: commercial printing, envelopes and printed office products. The company believes the new structure will greatly improve its ability to deliver the speed, reliability, and efficiency that its customers demand, as well as make it easier for customers to do business with Mail-Well. -- As of October 7, 2003 the National Do Not Call Registry became effective and enforceable by the Federal Trade Commission. The Federal Trade Commission reported that the National Do Not Call Registry currently contains 53.7 million telephone numbers and estimates that the list will stop approximately 80% of telemarketer's calls. The Federal Trade Commission continues to operate the registry despite litigation brought to challenge its legality on regulatory and constitutional grounds. -- During the quarter the Company's new Commercial segment implemented a 360 degree Enterprise Solutions(TM) Sales Group. This sales group focuses on the complete supply chain management process from premedia and data asset management through multi-channel media coverage, print on demand, fulfillment, logistics and beyond. -- Our Resale segment's brand Discount Labels received a Vendor of the Year award, for the Business Documents Category for the second consecutive year, from ProForma, one of the largest independent distributor networks in the industry. Consolidated Balance Sheets Mail-Well, Inc. and Subsidiaries (in thousands) September December 31 2003 2002 (Unaudited) Assets Current assets: Cash and cash equivalents $1,094 $2,650 Accounts receivable, net 229,889 219,924 Inventories, net 97,994 103,533 Net assets held for sale -- 4,492 Other current assets 36,231 45,762 Total current assets 365,208 376,361 Property, plant and equipment, net 390,091 379,624 Goodwill 297,783 290,361 Other intangible assets, net 17,423 18,586 Other assets, net 38,228 42,435 Total assets $1,108,733 $1,107,367 Liabilities and shareholders' equity Current liabilities: Accounts payable $152,312 $151,930 Accrued compensation and related liabilities 56,225 53,292 Other current liabilities 55,236 67,848 Current maturities of long-term debt 2,733 2,961 Total current liabilities 266,506 276,031 Long-term debt 758,614 760,938 Deferred income taxes 3,814 10,336 Other liabilities 16,133 17,294 Total liabilities 1,045,067 1,064,599 Shareholders' equity: Common Stock 484 483 Paid in capital 214,047 213,826 Retained deficit (152,864) (155,481) Deferred compensation (2,244) (2,471) Accumulated other comprehensive income (loss) 4,243 (13,589) Total shareholders' equity 63,666 42,768 Total liabilities and shareholders' equity $1,108,733 $1,107,367 Consolidated Statements of Operations Mail-Well, Inc. and Subsidiaries (in thousands, except per share data) (unaudited) Three months Ended Nine months Ended September 30 September 30 2003 2002 2003 2002 Net sales $412,218 $428,720 $1,247,363 $1,293,169 Cost of sales 330,341 343,485 1,002,691 1,041,064 Gross profit 81,877 85,235 244,672 252,105 Operating expenses: Selling, general and administrative expenses 59,278 61,273 185,172 198,509 Amortization of intangibles 500 526 1,363 1,542 Loss on early extinguishment of debt -- -- -- 16,463 Impairment loss on assets held for sale -- -- -- 8,871 Impairment loss on former discontinued operation -- -- -- 10,407 Restructuring and other charges 76 39,408 1,212 63,208 Operating income (loss) 22,023 (15,972) 56,925 (46,895) Other expense: Interest expense 17,831 18,675 54,163 52,553 Other 574 1,720 1,063 2,061 Income (loss) from continuing operations before income taxes and cumulative effect of a change in accounting principle 3,618 (36,367) 1,699 (101,509) Provision for income taxes 1,446 (14,218) 679 (27,684) Income (loss) from continuing operations before cumulative effect of a change in accounting principle 2,172 (22,149) 1,020 (73,825) Loss (gain) on disposal of discontinued operations -- 5,804 (1,919) 13,958 Cumulative effect of a change in accounting principle -- 322 111,748 Net income (loss) $2,172 $(27,953) $2,617 $(199,531) Income (loss) per share - basic: Continuing operations $0.05 $(0.46) $0.02 $(1.55) Discontinued operations -- (0.13) 0.04 (0.29) Cumulative effect of a change in accounting principle -- -- (0.01) (2.35) Income (loss) per share - basic $0.05 $(0.59) $0.05 $(4.19) Income (loss) per share - diluted: Continuing operations $0.04 $(0.46) $0.02 $(1.55) Discontinued operations -- (0.13) 0.04 (0.29) Cumulative effect of a change in accounting principle -- -- (0.01) (2.35) Income (loss) per share - diluted $0.04 $(0.59) $0.05 $(4.19) Weighted averages shares - basic 47,689 47,668 47,677 47,665 Weighted averages shares - diluted 48,406 47,668 48,268 47,665 Consolidated Cash Flow Statements Mail-Well, Inc. and Subsidiaries (in thousands) (unaudited) Nine months Ended September 30 2003 2002 Cash flows from operating activities: Income (loss) from continuing operations $1,020 $(73,825) Adjustments to reconcile net income (loss) to cash provided by operating activities: Depreciation 34,852 34,587 Amortization 4,393 5,851 Write-off of deferred financing costs -- 16,463 Noncash portion of restructuring, impairment and other charges -- 29,226 Deferred income taxes (7,826) (19,433) Loss on disposal of assets 891 405 Other noncash charges, net 540 250 Changes in operating assets and liabilities, excluding effects of business sold: Accounts receivables (3,886) 5,566 Inventories 7,431 5,262 Accounts payable and accrued compensation 242 (1,908) Accrued taxes 10,888 2,459 Other working capital changes (14,718) 2,098 Other, net (193) 744 Net cash provided by operating activities 33,634 7,745 Cash flows from investing activities: Acquisitions -- (2,552) Capital expenditures (19,722) (26,943) Proceeds from divestitures, net 3,864 128,649 Proceeds from sales of property, plant and equipment 658 6,267 Net cash (used in) provided by investing activities (15,200) 105,421 Cash flows from financing activities: Proceeds from the issuance of long- term debt 1,384,781 1,006,154 Repayment of long-term debt (1,405,239) (951,077) Proceeds from the issuance of common stock 16 18 Capitalized loan fees (484) (17,402) Net cash (used in) provided by financing activities (20,926) 37,693 Effect of exchange rate changes on cash and cash equivalents 936 (1,088) Net (decrease) increase in cash and cash equivalents (1,556) 149,771 Cash flows from discontinued operations -- (10,827) Cash and cash equivalents at beginning of year 2,650 894 Cash and cash equivalents at end of period $1,094 $139,838 Segment Results Mail-Well, Inc. and Subsidiaries (in thousands) (unaudited) Three months Ended Nine months Ended September 30 September 30 2003 2002 2003 2002 Net sales: Commercial Printing $195,090 $194,659 $579,690 $559,140 Envelope 167,608 183,352 517,510 579,495 Printed Office Products 49,520 50,709 150,163 154,534 Total net sales $412,218 $428,720 $1,247,363 $1,293,169 Operating income (loss): Commercial Printing $6,539 $(5,586) $11,230 $(17,549) Envelope 16,037 10,415 47,930 29,280 Printed Office Products 3,996 4,865 12,618 13,540 Corporate services (4,549) (25,666) (14,853) (72,166) Total operating income (loss) $22,023 $(15,972) $56,925 $(46,895) EBITDA (1): Commercial Printing $13,072 $2,838 $30,451 $6,593 Envelope 20,631 16,152 62,139 47,235 Printed Office Products 5,285 6,365 16,710 18,180 Corporate services (5,534) (30,949) (17,223) (49,094) Total EBITDA $33,454 $(5,594) $92,077 $22,914 (1) See Appendix 2 in the Supplemental Information to the Press Release for the definition of EBITDA, reconciliation to net income and the reasons why EBITDA is a relevant non-GAAP financial measure for Mail-Well. Appendix 1 - Reported Results Less the Impacts of Divestitures and Restructuring Activities (1) Mail-Well, Inc. and Subsidiaries (in thousands) (unaudited) Three months Ended Nine months Ended September 30 September 30 Impact on: 2003 2002 2003 2002 Net sales: Reported $412,218 $428,720 $1,247,363 $1,293,169 Less divested operations: Filing products division - Envelope -- (6,330) -- (42,340) Digital graphics operations - Commercial Printing -- (3,416) (2,872) (10,698) Ongoing revenues $412,218 $418,974 $1,244,491 $1,240,131 Operating income: Reported $22,023 $(15,972) $56,925 $(46,895) Less divested operations: Filing products division - Envelope -- (294) -- (3,429) Digital graphics operations - Commercial Printing -- (423) (167) (1,332) Restructuring and other charges 76 39,408 1,212 63,208 Impairments and write- off of deferred financing fees (2) -- -- -- 35,741 Ongoing operating income $22,099 $22,719 $57,970 $47,293 EBITDA : EBITDA as defined (3) $33,454 $(5,594) $92,077 $22,914 Less divested operations: Filing products division - Envelope -- (175) -- (3,315) Digital graphics operation - Commercial Printing -- (269) (323) (716) Restructuring and other charges 76 39,408 1,212 63,208 Ongoing EBITDA $33,530 $33,370 $92,966 $82,091 (1) This schedule provides an analysis of the results of operations excluding restructuring expenses, operations divested in 2002 and 2003 and other charges that resulted primarily from our 2001 strategic plan. We believe this information is useful in understanding our operating results and the ongoing performance of our underlying businesses. (2) Non-cash write-offs excluded from EBITDA (3) See Appendix 2 in the Supplemental Information to the Press Release for the definition of EBITDA, reconciliation to net income and the reasons why EBITDA is a relevant non-GAAP financial measure for Mail-Well. Appendix 2 - Reconciliation of Net Income to EBITDA (1) for the three months ended September 30, 2003 and 2002 Mail-Well, Inc. and Subsidiaries (in thousands) (unaudited) For the three months ended September 30, 2003 Printed Commercial Office Printing Envelope Products Corporate Total Net income (loss) $6,395 $15,724 $3,997 $(23,944) $2,172 Interest -- -- -- 17,831 17,831 Taxes -- -- -- 1,446 1,446 Depreciation 6,518 4,604 1,250 (867) 11,505 Amortization 159 303 38 -- 500 EBITDA $13,072 $20,631 $5,285 $(5,534) $33,454 For the three months ended September 30, 2002 Printed Commercial Office Printing Envelope Products Corporate Total Net income (loss) $(4,481) $10,993 $4,825 $(39,290) $(27,953) Loss on disposal of discontinued operations (2) -- -- -- 5,804 5,804 Interest -- -- -- 18,675 18,675 Taxes -- -- -- (14,218) (14,218) Depreciation 7,130 4,926 1,502 (1,986) 11,572 Amortization 189 233 38 66 526 EBITDA $2,838 $16,152 $6,365 $(30,949) $(5,594) (1) This is a reconciliation of net income to earnings from continuing operations before interest, taxes, depreciation and amortization ("EBITDA") is presented above. We believe EBITDA provides useful supplemental information to investors since it excludes the impact of investing or financing transactions on our operating results. (2) Non-cash charges excluded from EBITDA Appendix 2 - Reconciliation of Net Income to EBITDA (1) for the nine months ended September 30, 2003 and 2002 Mail-Well, Inc. and Subsidiaries (in thousands) (unaudited) For the nine months ended September 30, 2003 Printed Commercial Office Printing Envelope Products Corporate Total Net income $10,578 $47,472 $12,624 $(68,057) $2,617 Gain from disposal of discontinued operations -- -- -- (1,919) (1,919) Cumulative effect of a change in accounting principle (2) -- -- -- 322 322 Interest -- -- -- 54,163 54,163 Taxes -- -- -- 679 679 Depreciation 19,370 13,920 3,973 (2,411) 34,852 Amortization 503 747 113 -- 1,363 EBITDA $30,451 $62,139 $16,710 $(17,223) $92,077 For the nine months ended September 30, 2002 Printed Commercial Office Printing Envelope Products Corporate Total Net income $(15,283) $31,149 $13,493 $(228,890) $(199,531) Impairment loss on assets held for sale (2) -- -- -- 8,871 8,871 Impairment loss on former discontinued operation (2) -- -- -- 10,407 10,407 Loss on early extinguishment of debt (2) -- -- -- 16,463 16,463 Loss on disposal of discontinued operations (2) -- -- -- 13,958 13,958 Cumulative effect of a change in accounting principle (2) -- -- -- 111,748 111,748 Interest -- -- -- 52,553 52,553 Taxes -- -- -- (27,684) (27,684) Depreciation 21,289 15,304 4,572 (6,578) 34,587 Amortization 587 782 115 58 1,542 EBITDA $6,593 $47,235 $18,180 $(49,094) $22,914 (1) This is a reconciliation of net income to earnings from continuing operations before interest, taxes, depreciation and amortization ("EBITDA") is presented above. We believe EBITDA provides useful supplemental information to investors since it excludes the impact of investing or financing transactions on our operating results. (2) Non-cash charges excluded from EBITDA Certification of Financial Statements The following certifications will be furnished to the SEC as Exhibits to the Company's 10-Q for the period ending September 30, 2003. CERTIFICATION OF PERIODIC REPORT I Paul V. Reilly, chairman, president and chief executive officer of Mail-Well, Inc. (the "Company"), certify pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that: (1) the Quarterly Report on Form 10-Q of the Company for the quarterly period ended September 30, 2003 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Dated: October 31, 2003 _____________________________ Paul V. Reilly Chairman, President and CEO CERTIFICATION OF PERIODIC REPORT I Michel P. Salbaing, senior vice president and chief financial officer of Mail-Well, Inc. (the "Company"), certify pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that: (1) the Quarterly Report on Form 10-Q of the Company for the quarterly period ended September 30, 2003 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Dated: October 31, 2003 _____________________________ Michel P. Salbaing Senior Vice President and CFO http://www.newscom.com/cgi-bin/prnh/19990429/MAILWELLLOGO DATASOURCE: Mail-Well, Inc. CONTACT: Mr. Michel P. Salbaing, Senior Vice President and Chief Financial Officer of Mail-Well, Inc., +1-303-790-8023 Web site: http://www.mail-well.com/ http://www.streetevents.com/ http://www.fulldisclosure.com/

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