Banta Confirms Receipt of Unsolicited, Highly Conditional Overture

MENASHA, Wis., Aug. 9 /PRNewswire-FirstCall/ -- Banta Corporation (NYSE: BN) today confirmed that it has received an unsolicited, highly conditional indication of interest from Cenveo, Inc. (NYSE: CVO) to acquire Banta, contingent on Cenveo obtaining financing, effecting due diligence and reaching a mutually satisfactory definitive merger agreement.

The Company today sent the following response letter to Robert G. Burton, Sr., Chairman and CEO of Cenveo:

  Robert G. Burton, Sr., Chairman and Chief Executive Officer
  Cenveo, Inc.
  One Canterbury Green
  Stamford, CT  06901

  Dear Mr. Burton,

  I am extremely disappointed that you chose to release publicly the letter
  that your legal advisors faxed to us late last night prior to giving us
  the opportunity to review your highly conditional unsolicited indication
  of interest in combining our two companies.

  In your letter you imply that you and I have spoken directly.  This is not
  true.  To clarify, yesterday I received from your financial advisors an
  ambiguous request to discuss your interest in our company.  At that time,
  I agreed to arrange a mutually acceptable time to talk with them in order
  to understand your interest.  At no time did your advisors mention any of
  the economic terms or conditions stated in the hostile, public overture
  released today.  We find your actions to be inexplicable.

  We are committed to acting in the best interests of all of our
  shareholders and, consistent with its fiduciary duties and
  responsibilities under Wisconsin law, our Board will review your letter of
  interest in consultation with our financial and legal advisors, UBS
  Investment Bank and Foley & Lardner.  The Company will communicate with
  you in due course.

  Sincerely,

  Stephanie A. Streeter
  Chairman, President and Chief Executive Officer
  Banta Corporation

Banta Corporation is a technology and market leader in printing and supply-chain management services. Our integrated approach provides a comprehensive combination of printing, binding and digital imaging solutions to leading publishers and direct marketers. We excel at helping customers find unique solutions to the complex challenges of getting their products and communications to market. We focus on five printing services markets: books, special-interest magazines, catalogs, direct marketing and literature management. Banta's global supply-chain management business provides a wide range of outsourcing capabilities to some of the world's largest companies. Services range from materials sourcing, product configuration and customized kitting, to order fulfillment and global distribution.