Visant Drops to Net Loss on Small Net Sales Decline

ARMONK, NY—March 8, 2012—Visant Corp. announced results for its fiscal year ended Dec. 31, 2011, including consolidated net sales of $1.218 billion, compared to $1.241 billion for its 2010 fiscal year ended Jan. 1, 2011, a decrease of approximately 2 percent.

In addition, Visant reported a consolidated net loss of $14.9 million for its latest fiscal year, compared to consolidated net income of $56.2 million for the fiscal year ended Jan. 1, 2011. The loss for the 2011 fiscal year was attributable to higher interest expense at Visant resulting from the recapitalization in September 2010 of Visant’s and Visant Holding Corp.’s indebtedness and a $31.9 million non-cash impairment charge associated with the write-down of certain intangible assets in our Marketing and Publishing Services segment.