Invesprint Corporation

Invesprint Corporation

March 28, 2005 15:45 ET

Metro Label Group Inc. Mails Offer to Invesprint Corporation Shareholders


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INVESPRINT CORPORATION

TSX SYMBOL: INV

MARCH 28, 2005 - 15:45 ET

Metro Label Group Inc. Mails Offer to Invesprint
Corporation Shareholders

TORONTO, ONTARIO--(CCNMatthews - March 28, 2005) - Invesprint
Corporation (TSX:INV) announced today that Metro Label Group Inc.,
through its indirect wholly-owned subsidiary 1330011 Ontario Limited,
has mailed to shareholders of Invesprint its offer to purchase and
take-over bid circular dated March 22, 2005 in connection with its
previously announced offer to acquire all of the outstanding common
shares of Invesprint for cash consideration of CDN $1.20 per share. A
directors' circular containing the unanimous recommendation of
Invesprint's board of directors that shareholders accept the offer is
also included in the package mailed to shareholders.

The purchase price under the offer represents a premium of 200% over the
$0.40 closing price of Invesprint's common shares on February 21, 2005,
the last trading day prior to the announcement of the offer.
Invesprint's board of directors has received an independent fairness
opinion from The Hathaway Corporation that the consideration payable
under the offer is fair from a financial point of view to Invesprint
shareholders.

The offer will expire at 5:00 p.m. (Toronto time) on April 27, 2005
unless extended or withdrawn. The offer is subject to customary
conditions, including receipt of all necessary regulatory approvals and
at least 66-2/3% of the Invesprint common shares, calculated on a fully
diluted basis, being tendered to the offer.

About Metro Label Group Inc.

Metro Label Group Inc. comprises three operating companies: Metro Label
Company Ltd (Toronto, Ontario), Metro Label Pacific Ltd. (Vancouver, BC)
and Metropolis Label Corp. (based in Napa, California). Established in
1974, the companies manufacture pressure-sensitive labels for a variety
of industries in Canada, the US and the Caribbean.

About Invesprint Corporation

Invesprint Corporation manufactures glue-applied and pressure sensitive
prime labels. The Jonergin division, located in St-Hubert, Quebec,
produces labels for the wine and spirits, pharmaceutical and
petrochemical markets.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Invesprint Corporation
    Leland D.Verner
    Acting Chief Executive Officer
    (416) 823-7474
    or
    Metro Label Group Inc.
    Sandeep Lal
    President
    (416) 321-7871