RRD Says it Followed Laws in Argentine Plant Closing

• The printing industry in Argentina has been struggling to be profitable for some time and the outlook for improvement of industry sales is not positive.
• The business of RRDA is not solvent.
• RRDA has experienced a decrease in sales and does not foresee any improvement in the foreseeable future.
• At every point in this decision, RRDA followed all Argentinian laws and regulations as they apply to these business decisions.

During the analysis of alternatives, many discussions and considerations took place including, among other things, the following: