Workflow Management Acquires Webtrend

Addition of Southern California Direct Mail and Commercial Print Operation

Is Both Strategic and Immediately Accretive



Apr 19, 2001, 01:00 ET from Workflow Management, Inc.

    PALM BEACH, Fla., April 19 /PRNewswire/ --
 Workflow Management, Inc. (Nasdaq:   WORK), a leading supplier of business
 printing and supply chain management services, today announces that it has
 acquired Webtrend Direct, Inc. and Webtrend Graphics, Inc., collectively
 referred to as Webtrend.
     Webtrend operates full-service direct mail and commercial printing
 facilities in Southern California.  The acquisition of Webtrend is expected to
 generate approximately $30.0 million in annual revenues for Workflow
 Management.  Additionally, the acquisition of Webtrend fortifies Workflow's
 West Coast market penetration and, combined with Workflow's existing units,
 creates the largest full-service direct mail and commercial print operation in
 California.
     Commenting on the acquisition of Webtrend, Tom D'Agostino, Sr., Chairman
 and Chief Executive Officer of Workflow Management, Inc., stated, "This is a
 great day for Workflow and our clients.  The acquisition of Webtrend is a
 crowning achievement in executing our strategy of becoming an industry leader
 on the West Coast.  The entire team did an excellent job making this happen.
 I'm confident that the newly combined operations will be a great contributor
 to the ongoing growth and success of Workflow."
     Don Secrest, President of Webtrend, Inc., commented, "We are all very
 excited to become part of the Workflow family of companies.  Clearly, Workflow
 Management has grown to become a significant force in the print industry.
 Their ongoing development of value-added solutions like the industry-proven
 iGetSmart(TM) system continues to position Workflow for greater success.  I
 look forward to working with the entire Workflow Management team to continue
 to grow our market penetration and bottom-line results."
     Steve Gibson, President of the Workflow Printing Division, remarked, "The
 acquisition of Webtrend represents a merger of the two most successful direct
 mail operations in Southern California to form a market dominant entity.
 Webtrend's highly skilled employees are a fantastic addition to our talented
 team.  We're all very enthusiastic about the numerous operational and
 strategic synergies that are created by this acquisition."
     The structure of the transaction calls for Workflow to pay $10.5 million
 at closing with additional consideration paid over a five-year period based on
 performance of the operations.  The acquisition is immediately accretive to
 the earnings per share of Workflow Management.
     Serving over 1,000 customers, Webtrend's client base includes such
 notables as AARP, Bank of America, Providian Bancorp, Aames Funding,
 Homeowners Loan, Clorox, Crystal Cathedral, General Motors and General Motors.
 
     About Workflow Management, Inc.
     Serving over 33,000 businesses throughout North America, Workflow
 Management, Inc. is a leading supplier of business printing and office
 consumables.  Through the innovative electronic outsourcing and facilities
 management system, iGetSmart(TM), Workflow's customers realize time and cost
 savings by outsourcing much of the non-core operations typically associated
 with the purchasing, management and fulfillment of print, office consumables
 and a variety of other core and non-core business products.
     Workflow Management has print manufacturing facilities and sales offices
 located throughout the United States and Canada, with more than 3,000
 employees.  Its client roster includes businesses that range in size from
 small and home offices to large and multi-national corporations like AT&T,
 Dreyfus Financial Services Corporation, Corning, Grainger, Veryfine Products,
 Brookstone Company, Nike, Wells Fargo and Salomon Smith Barney.
 
     This press release contains "forward-looking statements" within the
 meaning of federal securities laws, that involve risks and uncertainties.  All
 statements herein, other than those consisting solely of historical facts,
 that address activities, events or developments that the company expects or
 anticipates will or may occur in the future, including such things as business
 strategy, measures to implement strategy, competitive strengths, goals,
 references to future success and other events, may be forward-looking
 statements.  Statements herein are based on certain assumptions and analyses
 by the company in light of its experience and its perception of historical
 trends, current conditions and potential future developments, as well as other
 factors it believes are appropriate in the circumstances.  However, whether
 actual results, events and developments will conform with the company's
 expectations is subject to a number of risks and uncertainties and important
 factors could cause actual results, events and developments to differ
 materially from those referenced in, contemplated by or underlying any
 forward-looking statements herein, including, among others, the company's
 ability to integrate acquired businesses into its existing operations, the
 continued development and viability of the company's operations, the company's
 ability to manage its growth, the impact of industry and economic conditions,
 competition and other factors, many of which are beyond the control of the
 company.  Consequently, all forward-looking statements made herein are
 qualified by these cautionary statements and the cautionary language set forth
 in the company's most recent Form 10-K report and other documents filed with
 the Securities and Exchange Commission, and there can be no assurance that the
 actual results, events or developments referenced herein will occur or be
 realized.
 
 

SOURCE Workflow Management, Inc.
    PALM BEACH, Fla., April 19 /PRNewswire/ --
 Workflow Management, Inc. (Nasdaq:   WORK), a leading supplier of business
 printing and supply chain management services, today announces that it has
 acquired Webtrend Direct, Inc. and Webtrend Graphics, Inc., collectively
 referred to as Webtrend.
     Webtrend operates full-service direct mail and commercial printing
 facilities in Southern California.  The acquisition of Webtrend is expected to
 generate approximately $30.0 million in annual revenues for Workflow
 Management.  Additionally, the acquisition of Webtrend fortifies Workflow's
 West Coast market penetration and, combined with Workflow's existing units,
 creates the largest full-service direct mail and commercial print operation in
 California.
     Commenting on the acquisition of Webtrend, Tom D'Agostino, Sr., Chairman
 and Chief Executive Officer of Workflow Management, Inc., stated, "This is a
 great day for Workflow and our clients.  The acquisition of Webtrend is a
 crowning achievement in executing our strategy of becoming an industry leader
 on the West Coast.  The entire team did an excellent job making this happen.
 I'm confident that the newly combined operations will be a great contributor
 to the ongoing growth and success of Workflow."
     Don Secrest, President of Webtrend, Inc., commented, "We are all very
 excited to become part of the Workflow family of companies.  Clearly, Workflow
 Management has grown to become a significant force in the print industry.
 Their ongoing development of value-added solutions like the industry-proven
 iGetSmart(TM) system continues to position Workflow for greater success.  I
 look forward to working with the entire Workflow Management team to continue
 to grow our market penetration and bottom-line results."
     Steve Gibson, President of the Workflow Printing Division, remarked, "The
 acquisition of Webtrend represents a merger of the two most successful direct
 mail operations in Southern California to form a market dominant entity.
 Webtrend's highly skilled employees are a fantastic addition to our talented
 team.  We're all very enthusiastic about the numerous operational and
 strategic synergies that are created by this acquisition."
     The structure of the transaction calls for Workflow to pay $10.5 million
 at closing with additional consideration paid over a five-year period based on
 performance of the operations.  The acquisition is immediately accretive to
 the earnings per share of Workflow Management.
     Serving over 1,000 customers, Webtrend's client base includes such
 notables as AARP, Bank of America, Providian Bancorp, Aames Funding,
 Homeowners Loan, Clorox, Crystal Cathedral, General Motors and General Motors.
 
     About Workflow Management, Inc.
     Serving over 33,000 businesses throughout North America, Workflow
 Management, Inc. is a leading supplier of business printing and office
 consumables.  Through the innovative electronic outsourcing and facilities
 management system, iGetSmart(TM), Workflow's customers realize time and cost
 savings by outsourcing much of the non-core operations typically associated
 with the purchasing, management and fulfillment of print, office consumables
 and a variety of other core and non-core business products.
     Workflow Management has print manufacturing facilities and sales offices
 located throughout the United States and Canada, with more than 3,000
 employees.  Its client roster includes businesses that range in size from
 small and home offices to large and multi-national corporations like AT&T,
 Dreyfus Financial Services Corporation, Corning, Grainger, Veryfine Products,
 Brookstone Company, Nike, Wells Fargo and Salomon Smith Barney.
 
     This press release contains "forward-looking statements" within the
 meaning of federal securities laws, that involve risks and uncertainties.  All
 statements herein, other than those consisting solely of historical facts,
 that address activities, events or developments that the company expects or
 anticipates will or may occur in the future, including such things as business
 strategy, measures to implement strategy, competitive strengths, goals,
 references to future success and other events, may be forward-looking
 statements.  Statements herein are based on certain assumptions and analyses
 by the company in light of its experience and its perception of historical
 trends, current conditions and potential future developments, as well as other
 factors it believes are appropriate in the circumstances.  However, whether
 actual results, events and developments will conform with the company's
 expectations is subject to a number of risks and uncertainties and important
 factors could cause actual results, events and developments to differ
 materially from those referenced in, contemplated by or underlying any
 forward-looking statements herein, including, among others, the company's
 ability to integrate acquired businesses into its existing operations, the
 continued development and viability of the company's operations, the company's
 ability to manage its growth, the impact of industry and economic conditions,
 competition and other factors, many of which are beyond the control of the
 company.  Consequently, all forward-looking statements made herein are
 qualified by these cautionary statements and the cautionary language set forth
 in the company's most recent Form 10-K report and other documents filed with
 the Securities and Exchange Commission, and there can be no assurance that the
 actual results, events or developments referenced herein will occur or be
 realized.
 
 SOURCE  Workflow Management, Inc.