Visant Reports 2.4% Decrease in 2013 FY Net Sales

ARMONK, NY—March 6, 2014—Visant Corp. announced results for its fiscal year ended December 28, 2013, including consolidated net sales of $1,127.7 million, compared to $1,155.3 million for its fiscal year ended December 29, 2012, a decrease of approximately 2.4 percent. Visant reported consolidated net income of $1.1 million for the fiscal year ended December 28, 2013, compared to a consolidated net loss of $58.6 million for the fiscal year ended December 29, 2012. The 2013 fiscal year results include an $8.2 million non-cash charge associated with the write-off of a tradename no longer in use in the Marketing and Publishing Services segment and the 2012 fiscal year results included a $64.2 million non-cash impairment charge associated with the write-down of goodwill in the Marketing and Publishing Services and Scholastic segments. Visant's consolidated Adjusted EBITDA (defined in the accompanying summary of financial data) was $284.8 million for the 2013 fiscal year, a decrease of $13.3 million, compared to consolidated Adjusted EBITDA of $298.1 million for the 2012 fiscal year.