Workflow Management Reaches Agreement with Lenders to Amend Credit Agreement

DAYTON, OH—May 1, 2009—Workflow Management today announced that it has reached agreement with lenders to amend its primary credit agreements. These amendments provide the company with enhanced liquidity and greater financial flexibility as it continues to implement its transformation plan. The agreement includes revised loan covenants that will give the company an opportunity to implement its transformation plan as well as capitalize certain interest accruing to second lien lenders in order to improve its near-term liquidity. In exchange, the company’s second lien lenders will receive warrants to acquire a minority equity interest in Workflow Management to share in the future value to be generated under the transformation plan. In conjunction with these amendments, Workflow Management’s lead equity sponsor, Perseus LLC, will also make a further equity investment in the company.