Quad/Graphics Completes Acquisition of Worldcolor

Pursuant to the arrangement agreement, each Worldcolor common share will be converted into the right to receive 0.2154 shares of class A common stock of Quad/Graphics. In addition to share consideration, holders of Worldcolor common shares, including the 13,687,826 Worldcolor common shares to be issued upon conversion of the Worldcolor preferred shares, will receive cash consideration of U.S. $48,405,658.83 in the aggregate (approximately U.S.$ 0.56 per share) upon completion of the arrangement.