Freeman Spogli & Co. Announces Investment in Medical Arts Press, Inc. for a Majority Interest

Los Angeles, November 10, 1999 - Freeman Spogli & Co. announced today that it has signed a definitive agreement to invest in Medical Arts Press, Inc. for a majority interest in a transaction valued at approximately $277 million. Financing for this transaction, which is expected to close in mid-December, is being arranged by Goldman Sachs.

Medical Arts Press, founded in 1950 and headquartered in Minneapolis, Minnesota, is a leading direct marketer, manufacturer and distributor of office products and practice-related supplies to healthcare professionals. The Company sells a broad range of customized and standard products through highly targeted mailings of its full-line and niche-targeted catalogs.

"We were looking for a partner who shares our company's values, growth objectives and wants to build on our foundation. I believe we found the ideal partner in Freeman Spogli. They have a proven track record in the direct mail industry and can help our company grow to the next level. We are excited to have them as our partners as we enter the next millennium," said Steven Wexler, CEO of Medical Arts Press.

“Freeman Spogli is very excited about partnering with Steven Wexler and his team, who have done an exceptional job building Medical Arts Press into a leader in the direct marketing arena,” said Freeman Spogli co-founding partner Ronald Spogli. “The company has built the premium brand in healthcare office products and practice-related supplies and represents an exciting investment opportunity for Freeman Spogli.”

Freeman Spogli is a private investment firm that invests together with management in companies positioned for growth. The firm, founded in 1983, invests primarily in consumer-related companies, operating in the retailing, direct marketing and service businesses. Since its inception, the firm has invested over $1.5 billion in 28 companies with aggregate enterprise values of more than $9 billion. # # #

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