Banta Board Rejects Cenveo’s Unsolicited Acquisition Proposal

The Company also announced that the unsolicited proposal from Cenveo has automatically triggered the requirement to fund a trust which will hold restricted cash assets available to cover payments, both immediate and long-term, due to certain retired and active Banta employees. These payments include deferred compensation and retirement benefits already earned by these employees, as well as potential compensation and benefits that may become due to current employees in connection with a change in control. The requirement to irrevocably fund the trust, which was adopted by Banta’s Board in January 1990 and has been disclosed regularly in SEC filings since then, was triggered solely by the recent actions taken by Cenveo, and was not the result of any action by the Banta Board of Directors. Banta said that approximately $100 million has been used to fund the trust. In the event that a change in control does not occur within the time period provided under the trust, the trust assets will be released by the trustee and returned to the control of Banta.