Presstek Receives New Revolving Credit Facility, Completes Sale of its Lasertel Subsidiary

Lasertel Sale:

Presstek completed the sale of Lasertel to SELEX on March 5, 2010 for approximately $10 million, comprised of $8 million in cash and $2 million of laser diode inventory for Presstek’s future product requirements. The Company expects to recognize a gain on the sale of Lasertel within discontinued operations of approximately $0.5 million, subject to final adjustments. The net cash proceeds have been used to pay down debt. As part of the transaction, Presstek has entered into a two-year laser diode supply agreement. SELEX also will assume the current lease on the Lasertel property in Tucson, AZ.