Consolidated Graphics Reports Sharply Lower Results, Amended Credit Line

Davis continued, "On a positive note, these difficult times have created opportunities for Consolidated Graphics. Our cost structure and financial strength are a competitive advantage and will allow us to attract new customers and sales personnel and continue to acquire good printing companies."

On July 30, 2009, the Company entered into an amendment to its revolving bank credit agreement. The amendment increases the interest rate on borrowings and allows for additional financial covenant flexibility. Following the amendment, based on the Company's current leverage ratio, as defined, and current market interest rates, borrowings under the revolving credit agreement carry a variable interest rate of less than 3%. Both the commitment amount of $335 million and the maturity date of October 6, 2011 remain unchanged.