Moore CEO calls media report false

Office World News, Jun 2001

BANNOCKBURN, Il,/TORONTO, ONTARIO-In response to investor inquires, Robert G. Burton, president and CEO of Moore Corp., responded to published reports in a Toronto newspaper that the company was about to be delisted from the Toronto Stock Exchange (TSE) and was relocating operations from Chicago to Connecticut.

"The Globe and Mail article does not accurately reflect where we are at in the decision-making process regarding strategic alternatives for the company. We are certainly under no threat of being delisted from the exchange and have no voluntary plans to delist from the TSE," said Burton. "Moore has enjoyed a long-time relationship with the Toronto Stock Exchange and the (NYSE). We look forward to continuing these relationships for many years to come."

Burton added, "I believe our real estate plans are causing confusion for some people. We have publicly announced that we are examining many opportunities, one of which is to relocate some of our back office functions out of the Chicago area. As we announced previously, other plans include right sizing our real estate portfolio which may cause the closing or relocating of some offices into other facilities more appropriately sized to meet the needs of our customers. The examination of our real estate portfolio in no way indicates an intention of the company to move off of either the TSE or NYSE. Our sole focus continues to be to deliver on our $100 million cost reduction commitment and to take aggressive action that will provide positive value for our shareholders. To get sidetracked by inaccurate media reports serves no purpose but to detract shareholders and the management team from the real progress being made within the company."