Cenveo Completes Purchase of Rex Corporation

STAMFORD, Conn., March 31 /PRNewswire-FirstCall/ -- Cenveo, Inc.
(NYSE: CVO), announced today that the Company has completed its previously-
announced purchase of Rex Corporation (Rex), of Jacksonville, FL. Rex is one
of the largest independent manufacturers of premium and high-quality packaging
solutions in North America with over 35 years of industry experience.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070618/CENVEOLOGO )
Robert G. Burton, Chairman and Chief Executive Officer of Cenveo, stated:
"We are pleased to have completed this acquisition and I look forward to
working with Chipper Hall and the entire Rex team as we join our two strong
franchises. We believe this combination will benefit our customers by
increasing the value we offer to them in order to support the growth of their
businesses in the future, both domestically and globally. I want to
personally welcome each of the fine employees of Rex to the Cenveo family.
Mr. Burton concluded:
Along with closing this strategic acquisition, we have also focused our
attention on ensuring that we have the appropriate cost structure during this
period of economic uncertainty. Over the past month we have looked across our
entire operating platform for additional opportunities to improve efficiencies
and reduce costs. We have eliminated over $25 million of incremental costs,
on an annualized basis, from all aspects of our business by consolidating
duplicative functions and processes, by further rationalizing our operating
structure and focusing our resources on improving productivity and
efficiencies and by asking our people to wear multiple hats and to do more
with less. We feel that by taking these incremental steps now, we will be
well positioned to achieve our long term financial goals."
Cenveo (NYSE: CVO), headquartered in Stamford, Connecticut, is a leader in
the management and distribution of print and related products and services.
The Company provides its customers with low-cost solutions within its core
businesses of commercial printing and packaging, envelope, form, and label
manufacturing, and publisher services; offering one-stop services from design
through fulfillment. With over 10,000 employees worldwide, Cenveo delivers
everyday for its customers through a network of production, fulfillment,
content management, and distribution facilities across the globe.
Statements made in this release, other than those concerning historical
financial information, may be considered "forward-looking statements," which
are based upon current expectations and involve a number of assumptions, risks
and uncertainties that could cause the actual results to differ materially
from such forward-looking statements. In view of such uncertainties,
investors should not place undue reliance on our forward-looking statements.
Such statements speak only as of the date of this release, and we undertake no
obligation to update any forward-looking statements made herein. Factors that
could cause actual results to differ materially from management's expectations
include, without limitation: (1) our substantial indebtedness impairing our
financial condition and limiting our ability to incur additional debt; (2) the
terms of our indebtedness imposing significant restrictions on our operating
and financial flexibility; (3) the potential to incur additional indebtedness,
exacerbating the above factors; (4) cross default provisions in our
indebtedness, which could cause all of our debt to become due and payable as a
result of a default under an unrelated debt instrument; (5) our ability to
successfully integrate acquisitions; (6) intense competition in our industry;
(7) the absence of long-term customer agreements in our industry, subjecting
our business to fluctuations; (8) factors affecting the U.S. postal services
impacting demand for our products; (9) increases in paper costs and decreases
in its availability; (10) our history of losses and ability to return to
consistent profitability; (11) the availability of the Internet and other
electronic media affecting demand for our products; (12) our labor relations;
(13) compliance with environmental rules and regulations; (14) dependence on
key management personnel; and (15) general economic, business and labor
conditions. This list of factors is not exhaustive, and new factors may
emerge or changes to the foregoing factors may occur that would impact the
Company's business. Additional information regarding these and other factors
can be found in Cenveo, Inc.'s periodic filings with the SEC, which are
available at http://www.cenveo.com .
SOURCE Cenveo, Inc.

Analysts and Investors, Robert G. Burton, Jr. of Cenveo, Inc.,
+1-203-595-3005