(Moore Corporation)

Print Action, Feb 2003

MOORE CORPORATION and Wallace Computer Services plan to merge and form one of the world's largest providers of commercial print, direct mail, outsourced customer communications, forms, labels, fulfillment and distribution services. The combined company is to be named Moore Wallace. Moore will pay aggregate consideration of nearly US$1.3 billion, which will consist of around US$606 million in cash, US$470 million in Moore's common shares, and the assumption of US$210 million in debt.

Moore will issue approximately 44.2-million common shares to Wallace shareholders that will then own approximately 28 per cent of the combined company.