Day Runner, Inc. Reports Sale of Filofax

Apr 26, 2001, 01:00 ET from Day Runner, Inc.

    FULLERTON, Calif., April 26 /PRNewswire/ -- Day Runner, Inc.
 (OTC Bulletin Board:   DAYR) today announced the sale of its Filofax operations
 for $30 million which was used to reduce existing debt.  The sale is a
 significant step in the Company's financial restructuring plan to improve
 profitability and its capital structure.  The Filofax operations were sold to
 entities affiliated with the Company's lenders.
 
     All forward-looking statements made in this news release constitute
 forward-looking statements within the meaning of the federal securities laws.
 These forward-looking statements reflect the Company's current expectations
 and are subject to numerous risks and uncertainties that may cause actual
 results to differ materially from those described in the forward-looking
 statements.  These include but are not limited to:  (1) the Company's
 liquidity is dependent upon its ability to successfully renegotiate the terms
 of its bank loan agreement and/or obtain waivers of such agreement and there
 can be no assurance that the Company will succeed in renegotiating and/or
 obtaining waivers of such agreement; (2) the Company has reported substantial
 losses over the last two fiscal years and there can be no assurance that the
 Company's substantial restructuring plan will be successful in returning the
 Company to profitability; (3) the Company's efforts to control costs may not
 prove sufficient to prevent future increases in operating expenses in dollars
 or as a percentage of sales; (4) the Company may not be able to counteract the
 effects of large customers' supply chain management in any significant way
 which may result in lower than expected sales and/or higher than expected
 product returns; (5) the Company may not correctly anticipate the product mix
 of retailers' "just-in-time" inventory demands, resulting in the temporary
 unavailability of the products in demand by retailers and lower sales; and (6)
 there can be no assurance that the Company's new products will meet with
 market acceptance.
     Additional factors that may cause future results to differ materially from
 the Company's current expectations include, among others: timing and size of
 orders from large customers; timing and size of orders for new products;
 competition, especially for retail shelf space; consumer demand; general
 economic conditions; the health of the retail environment; foreign exchange
 rate fluctuations; supply constraints; and supplier performance.  Among the
 effects of these factors may be:  lower than anticipated sales; higher than
 anticipated product returns and/or excess inventory; negative effects on
 consumer purchases; lower than anticipated gross profit; higher than
 anticipated operating expenses; and lower than anticipated net income.
     For additional risks and more detailed explanations of factors that may
 cause the Company's results of operations to vary materially from current
 expectations, see the Company's Form 10-K for the year ended June 30, 2000
 filed with the SEC.
 
     Day Runner, Inc. is a leading developer and marketer of loose-leaf
 paper-based organizers for the North American retail markets.  The Company
 also develops and markets a number of related organizing products, including
 telephone/address books, business accessories, organizing tools for students,
 wallboards, laminated wall planners, and the Home Manager(TM) on-the-
 refrigerator organizer.
 
     Day Runner(R) is a registered trademark of Day Runner, Inc., and Home
 Manager is a trademark of Day Runner, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X77637478
 
 

SOURCE Day Runner, Inc.
    FULLERTON, Calif., April 26 /PRNewswire/ -- Day Runner, Inc.
 (OTC Bulletin Board:   DAYR) today announced the sale of its Filofax operations
 for $30 million which was used to reduce existing debt.  The sale is a
 significant step in the Company's financial restructuring plan to improve
 profitability and its capital structure.  The Filofax operations were sold to
 entities affiliated with the Company's lenders.
 
     All forward-looking statements made in this news release constitute
 forward-looking statements within the meaning of the federal securities laws.
 These forward-looking statements reflect the Company's current expectations
 and are subject to numerous risks and uncertainties that may cause actual
 results to differ materially from those described in the forward-looking
 statements.  These include but are not limited to:  (1) the Company's
 liquidity is dependent upon its ability to successfully renegotiate the terms
 of its bank loan agreement and/or obtain waivers of such agreement and there
 can be no assurance that the Company will succeed in renegotiating and/or
 obtaining waivers of such agreement; (2) the Company has reported substantial
 losses over the last two fiscal years and there can be no assurance that the
 Company's substantial restructuring plan will be successful in returning the
 Company to profitability; (3) the Company's efforts to control costs may not
 prove sufficient to prevent future increases in operating expenses in dollars
 or as a percentage of sales; (4) the Company may not be able to counteract the
 effects of large customers' supply chain management in any significant way
 which may result in lower than expected sales and/or higher than expected
 product returns; (5) the Company may not correctly anticipate the product mix
 of retailers' "just-in-time" inventory demands, resulting in the temporary
 unavailability of the products in demand by retailers and lower sales; and (6)
 there can be no assurance that the Company's new products will meet with
 market acceptance.
     Additional factors that may cause future results to differ materially from
 the Company's current expectations include, among others: timing and size of
 orders from large customers; timing and size of orders for new products;
 competition, especially for retail shelf space; consumer demand; general
 economic conditions; the health of the retail environment; foreign exchange
 rate fluctuations; supply constraints; and supplier performance.  Among the
 effects of these factors may be:  lower than anticipated sales; higher than
 anticipated product returns and/or excess inventory; negative effects on
 consumer purchases; lower than anticipated gross profit; higher than
 anticipated operating expenses; and lower than anticipated net income.
     For additional risks and more detailed explanations of factors that may
 cause the Company's results of operations to vary materially from current
 expectations, see the Company's Form 10-K for the year ended June 30, 2000
 filed with the SEC.
 
     Day Runner, Inc. is a leading developer and marketer of loose-leaf
 paper-based organizers for the North American retail markets.  The Company
 also develops and markets a number of related organizing products, including
 telephone/address books, business accessories, organizing tools for students,
 wallboards, laminated wall planners, and the Home Manager(TM) on-the-
 refrigerator organizer.
 
     Day Runner(R) is a registered trademark of Day Runner, Inc., and Home
 Manager is a trademark of Day Runner, Inc.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X77637478
 
 SOURCE  Day Runner, Inc.