SC 13E3/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13E-3/A
Amendment No. 1

RULE 13e-3 TRANSACTION STATEMENT
Under Section 13(e) Of The
Securities Exchange Act Of 1934

CATALINA MARKETING CORPORATION

(Name of the Issuer)

CATALINA MARKETING CORPORATION

L. DICK BUELL

(Names of Person(s) Filing Statement)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

148867104

(CUSIP Number of Class of Securities)

Catalina Marketing Corporation

200 Carillon Parkway

St. Petersburg, Florida 337316

Attn: Joanne Freiberger

(727) 579-5116

(Name, Address, and Telephone Numbers of Person Authorized to Receive Notices

and Communications on Behalf of the Persons Filing Statement)

With copies to

Paul, Hastings, Janofsky & Walker LLP	Cravath, Swaine & Moore LLP	Foley & Lardner LLP
75 East 55th Street	Worldwide Plaza	100 North Tampa Street
New York, NY 10022	825 Eighth Avenue	Suite 2700
Attn: Barry A. Brooks, Esq.	New York, NY 10019	Tampa, FL 33602
(212) 318-6000	Attn: Jesse Cuevas	Attn: Steven W. Vazquez
	(212) 474-1000	(813) 229-2300

This statement is filed in connection with (check the appropriate box):

þ a. The filing of solicitation materials or an information statement subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under the Securities Exchange Act of 1934.

o b. The filing of a registration statement under the Securities Act of 1933.

o c. A tender offer.

o d. None of the above.

Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: þ

Check the following box if the filing is a final amendment reporting the results of the transaction: o

Calculation of Filing Fee

Transaction valuation* $ 1,579,937,588 Amount of filing fee* $ 48,505

* Calculated solely for the purpose of determining the filing fee. The transaction valuation is determined based upon the sum of (a) the product of (i) the sum of 47,026,705 shares Common Stock and approximately 109,424 restricted stock units and (ii) the merger consideration of $32.50 per share (equal to $1,531,924,193) and (b) the product of options and share appreciation rights to purchase 6,216,598 shares of common stock with exercise prices less than $32.50 and approximately $7.72 (which is the difference between $32.50 and the weighted average exercise price per share) (equal to $48,013,396). In accordance with the Exchange Act Rule 0-11(c), the filing fee was determined by multiplying 0.0000307 by the aggregate transaction valuation of $1,579,937,588.

þ Check the box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

Amount Previously Paid:	$48,501
Form or Registration No.:	Schedule 14A
Filing Party:	Catalina Marketing Corporation
Date Filed:	May 2, 2007

TABLE OF CONTENTS

	Item 1. Summary Term Sheet
	Item 2. Subject Company Information
	Item 3. Identity and Background of Filing Person
	Item 4. Terms of the Transaction
	Item 5. Past Contacts, Transactions, Negotiations and Agreements
	Item 6. Purposes of the Transaction and Plans or Proposals
	Item 7. Purposes, Alternatives, Reasons and Effects
	Item 8. Fairness of the Transaction
	Item 9. Reports, Opinions, Appraisals and Certain Negotiations
	Item 10. Source and Amounts of Funds or Other Consideration
	Item 11. Interest in Securities of the Subject Company
	Item 12. The Solicitation or Recommendation
	Item 13. Financial Information
	Item 14. Persons/Assets, Retained, Employed, Compensated or Used
	Item 15. Additional Information
	Item 16. Exhibits
SIGNATURE
EX-99.(C)(3) GOLDMAN SACHS PRESENTATION 11/9/06
EX-99.(C)(4) GOLDMAN SACHS PRESENTATION 12/13/06
EX-99.(C)(5) GOLDMAN SACHS PRESENTATION 12/22/06
EX-99.(C)(6) GOLDMAN SACHS PRESENTATION 12/28/06
EX-99.(C)(7) GOLDMAN SACHS PRESENTATION 2/28/07
EX-99.(C)(8) LAZARD FRERES PRESENTATION 2/28/07
EX-99.(C)(9) GOLDMAN SACHS PRESENTATION 3/8/07
EX-99.(C)(10) LAZARD FRERES PRESENTATION 3/8/07
EX-99.(C)(11) LAZARD FRERES PRESENTATION 4/17/07
EX-99.(C)(12) GOLDMAN SACHS PRESENTATION 4/17/07

Introduction

     This Rule 13e-3 Transaction Statement, together with the exhibits hereto (this “Transaction Statement”), is being filed with the Securities and Exchange Commission (the “SEC”) pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), by (1) Catalina Marketing Corporation, a Delaware corporation (the “Company” or “Catalina”), the issuer of the Catalina common stock, par value $0.01 per share, that is subject to the Rule 13E-3 transaction and (2) L. Dick Buell (“Buell”). The Company and Buell are referred to herein collectively as the “Filing Persons”.

     This Transaction Statement relates to the Agreement of Merger, dated as of April 17, 2007 (the “Merger Agreement”), by and among the Company, Checkout Holding Corp (“Parent”), a Delaware corporation, and Checkout Acquisition Corp. (“Merger Sub”), a Delaware corporation that is a wholly-owned subsidiary of Parent. If the Merger Agreement is adopted by the Company stockholders and the other conditions to the closing of the Merger (as defined below) are satisfied or waived, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation. As a result of the Merger, the Company, the issuer of the equity securities that are the subject of the Rule 13e-3 transaction, will become a wholly-owned subsidiary of Parent. In the Merger, each issued and outstanding share of the Company’s common stock, par value $0.01 per share, will be converted into the right to receive $32.50 in cash.

     Concurrently with the filing of this Transaction Statement, the Company is filing with the SEC a revised preliminary proxy statement (the “Proxy Statement”) under Regulation 14A of the Exchange Act, pursuant to which the Company’s board of directors is soliciting proxies from stockholders of the Company in connection with the Merger. The Proxy Statement is attached hereto as Exhibit (a)(1). A copy of the Merger Agreement is attached to the Proxy Statement as Annex A and is incorporated herein by reference. As of the date hereof, the Proxy Statement is in preliminary form and is subject to completion or amendment.

     Pursuant to General Instruction F to Schedule 13E-3, the information in the Proxy Statement, including all annexes, exhibits and appendices thereto, is expressly incorporated by reference herein in its entirety, and responses to each item herein are qualified in their entirety by the information contained in the Proxy Statement. The cross references below are being supplied pursuant to General Instruction G to Schedule 13E-3 and show the location in the Proxy Statement of the information required to be included in response to the items of Schedule 13E-3. Capitalized terms used but not defined herein have the meanings assigned to them in the Proxy Statement.

     All information contained in, or incorporated by reference into, this Transaction Statement concerning each Filing Person was supplied by such Filing Person, and no other Filing Person, including the Company, takes responsibility for the accuracy of such information as it relates to any other Filing Person.

     The filing of this Statement shall not be construed as an admission by any Filing Person or by any affiliate of a Filing Person, that the Company is “controlled” by any other Filing Person, or that any other Filing Person is an “affiliate” of the Company within the meaning of Rule 13e-3 under Section 13(e) of the Exchange Act.

Item 1. Summary Term Sheet

     The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet” and “Questions and Answers About the Special Meeting and the Merger” is incorporated herein by reference.

Item 2. Subject Company Information

     (a) Name and Address. The Company’s name and the address and telephone number of its principal executive offices are as follows:

Catalina Marketing Corporation
200 Carillon Parkway
St. Petersburg, Florida 33716
(727) 579-5116

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     (b) Securities. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “The Special Meeting—Record Date and Quorum” and “The Special Meeting—Required Vote” is incorporated herein by reference.

     (c) Trading Market and Price. The information set forth in the section of the Proxy Statement entitled “Other Important Information Regarding Catalina—Market Price of Catalina Common Stock” is incorporated herein by reference.

     (d) Dividends. The information set forth in the section of the Proxy Statement entitled “Other Important Information Regarding Catalina—Market Price of Catalina Common Stock” is incorporated herein by reference.

     (e) Prior Public Offerings. None.

     (f) Prior Stock Purchases. The information set forth in the section of the Proxy Statement entitled “Other Important Information Regarding Catalina—Transactions in Catalina Common Stock” is incorporated herein by reference.

Item 3. Identity and Background of Filing Person

     (a) Name and address. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “The Parties to the Merger” and “Information Regarding the Transaction Participants” is incorporated herein by reference.

     (b) Business and background of entities. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “The Parties to the Merger” and “Information Regarding the Transaction Participants” is incorporated herein by reference.

     (c) Business and background of natural persons. The information set forth in the section of the Proxy Statement entitled “Information Regarding the Transaction Participants” is incorporated herein by reference.

Item 4. Terms of the Transaction

     (a) Material terms.

          (1) Not applicable.

          (2)(i) The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Certain Effects of the Merger” and “Questions and Answers About the Special Meeting and the Merger” is incorporated herein by reference.

          (2)(ii) The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Certain Effects of the Merger”, “Special Factors—Material United States Federal Income Tax”, “The Merger Agreement—Merger Consideration” and “The Merger Agreement—Treatment of Stock Options and Other Awards” is incorporated herein by reference.

          (2)(iii) The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background to the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors— Purposes, Reasons and Plan for Catalina after the Merger”, and “Special Factors—Interests of Certain Persons in the Merger” is incorporated herein by reference.

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          (2)(iv) The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger” and “The Special Meeting—Required Vote” is incorporated herein by reference.

          (2)(v) The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Certain Effects of the Merger” and “Special Factors—Interests of Certain Persons in the Merger” is incorporated herein by reference.

          (2)(vi) Not applicable.

          (2)(vii) The information set forth in the section of the Proxy Statement entitled “Special Factors—Material United States Federal Income Tax Consequences” is incorporated herein by reference.

     (c) Different terms. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Certain Effects of the Merger” and “Special Factors—Interests of Certain Persons in the Merger” is incorporated herein by reference.

     (d) Appraisal rights. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Rights of Appraisal” and “Section 262 of the Delaware General Corporation Law”, which is attached as Annex D thereto, is incorporated herein by reference.

     (e) Provisions for unaffiliated security holders. The information set forth in the section of the Proxy Statement entitled “Provisions for Unaffiliated Stockholders” is incorporated herein by reference. The Filing Persons have made no provisions in connection with the Merger to grant unaffiliated security holders access to the respective corporate files of any of the Filing Persons or to obtain counsel or appraisal services at the expense of the Filing Persons.

     (f) Eligibility for listing or trading. Not applicable.

Item 5. Past Contacts, Transactions, Negotiations and Agreements

     (a) (1)-(2) Transactions. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background of the Merger”, “Special Factors—Interests of Certain Persons in the Merger” and “Voting Agreements” is incorporated herein by reference.

     (b)-(c) Significant corporate events; Negotiations or contacts. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “Special Factors—Certain Effects of the Merger”, “Special Factors—Interests of Certain Persons in the Merger”, “The Merger Agreement”, “Limited Guarantee”, “Voting Agreements”, “Antaeus Voting Agreement”, which is attached as Annex E thereto, “ValueAct Capital Voting Agreement”, which is attached as Annex F thereto, and “Limited Guarantee”, which is attached as Annex G thereto, is incorporated herein by reference.

     (e) Agreements involving the subject company’s securities. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “Special Factors—Certain Effects of the Merger”, “Special Factors—Interests of Certain Persons in the Merger”, “The Merger Agreement” and “Voting Agreements” is incorporated herein by reference.

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Item 6. Purposes of the Transaction and Plans or Proposals.

     (b) Use of securities acquired. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Certain Effects of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “The Merger Agreement—Merger Consideration” and “The Merger Agreement—Treatment of Stock Options and Other Awards” is incorporated herein by reference.

     (c) (1)-(8) Plans. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “Special Factors—Certain Effects of the Merger”, “Special Factors—Financing”, “Special Factors—Delisting and Deregistration of Catalina Common Stock” and “Special Factors—Interests of Certain Persons in the Merger” is incorporated herein by reference.

Item 7. Purposes, Alternatives, Reasons and Effects

     (a) Purposes. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness” and “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger” is incorporated herein by reference.

     (b) Alternatives. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness” and “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger” is incorporated herein by reference.

     (c) Reasons. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Background of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Certain Effects of the Merger”, and “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger” is incorporated herein by reference.

     (d) Effects. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Background of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “Special Factors—Certain Effects of the Merger”, “Special Factors—Financing”, “Special Factors—Interests of Certain Persons in the Merger” and “Special Factors—Material United States Federal Income Tax Consequences” is incorporated herein by reference.

Item 8. Fairness of the Transaction

     (a)-(b) Fairness; Factors considered in determining fairness. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background of the Merger”, “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Opinions of Goldman, Sachs & Co. and Lazard Frères & Co. LLC”, “Special Factors—Position of L. Dick Buell as to Fairness” and “Special Factors—Interests of Certain Persons in the Merger” is incorporated herein by reference. The full text of the written opinion of Goldman, Sachs & Co., dated as of April 17, 2007, is

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attached to the Proxy Statement as Annex B and is incorporated herein by reference. The full text of the written opinion of Lazard Frères & Co. LLC, dated as of April 17, 2007, is attached to the Proxy Statement as Annex C and is incorporated herein by reference.

     (c) Approval of security holders. The transaction is not structured so that approval of at least a majority of unaffiliated security holders is required. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “The Special Meeting—Record Date and Quorum”, “The Special Meeting—Required Vote”, “The Merger Agreement—Conditions to the Merger” and “Special Factors— Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Special Factors Considered in Determining Fairness” is incorporated herein by reference.

     (d) Unaffiliated representative. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Special Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness” and “Special Factors—Opinions of Goldman, Sachs & Co. and Lazard Frères & Co. LLC” is incorporated herein by reference.

     (e) Approval of directors. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Special Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Interests of Certain Persons in the Merger”, and “The Special Meeting—Board Recommendation” is incorporated herein by reference.

     (f) Other offers. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background of the Merger” and “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Special Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, and “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger” is incorporated herein by reference.

Item 9. Reports, Opinions, Appraisals and Certain Negotiations

     (a)–(c) Report, opinion or appraisal; Preparer and summary of the report, opinion or appraisal; Availability of documents. The information set forth in the sections of the Proxy Statement entitled “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Special Factors Considered in Determining Fairness”, “Special Factors—Opinions of Goldman, Sachs & Co. and Lazard Frères & Co. LLC”, and “Where You Can Find Additional Information” is incorporated herein by reference. The full text of the written opinion of Goldman, Sachs & Co., dated as of April 17, 2007, is attached to the Proxy Statement as Annex B and is incorporated herein by reference. The full text of the written opinion of Lazard Frères & Co. LLC, dated as of April 17, 2007, is attached to the Proxy Statement as Annex C and is incorporated herein by reference.

Item 10. Source and Amounts of Funds or Other Consideration

     (a)-(d) Source of funds; Conditions; Expenses; Borrowed funds. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Financing”, “Special Factors—Special

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Committee Compensation”, “Special Factors—Estimated Fees and Expenses”, “The Special Meeting—Solicitation of Proxies; Expenses”, “The Merger Agreement—Financing” and “The Merger Agreement—Expenses and Termination Fees” is incorporated herein by reference.

Item 11. Interest in Securities of the Subject Company

     (a) Securities ownership. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Interests of Certain Persons in the Merger”, and “Other Important Information Regarding Catalina—Security Ownership of Certain Beneficial Owners and Management” is incorporated herein by reference.

     (b) Securities transactions. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger”, “Special Factors—Interests of Certain Persons in the Merger”, “Special Factors—Financing” and “Other Important Information Regarding Catalina—Transactions in Catalina Common Stock” is incorporated herein by reference.

Item 12. The Solicitation or Recommendation

     (d) Intent to tender or vote in a going-private transaction. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “The Special Meeting—Required Vote”, “The Merger—Interests of Certain Persons in the Merger” and “Voting Agreements” is incorporated herein by reference.

     (e) Recommendation of others. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Special Factors—Background of the Merger” and “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Position of L. Dick Buell as to Fairness”, “Special Factors—Purposes, Reasons and Plans for Catalina after the Merger”, “Special Factors—Interests of Certain Persons in the Merger” and “The Special Meeting—Board Recommendation” is incorporated herein by reference.

Item 13. Financial Information

     (a) Financial statements. The information set forth in the sections of the Proxy Statement entitled “Other Important Information Regarding Catalina—Selected Historical Consolidated Financial Data”,“Other Important Information Regarding Catalina—Book Value Per Share”, “Other Important Information Regarding Catalina—Ratio of Earnings to Fixed Charges” and “Where You Can Find Additional Information” is incorporated herein by reference. The audited financial statements set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 and the unaudited financial statements set forth in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2007 are incorporated by reference herein. Certain of the presentations filed as Exhibits c(3)-c(12) to this Schedule 13E-3 include forecasted financial information. The financial forecasts in these presentations were prepared by Catalina’s senior management for internal use and to assist potential acquirers and the financial advisors to the special committee and Catalina with their respective due diligence investigations of Catalina and not with a view toward public disclosure or toward complying with U.S. generally accepted accounting principles, the published guidelines of the SEC regarding forecasts or the guidelines established by the American Institute of Certified Public Accountants for preparation and presentation of prospective financial information. PricewaterhouseCoopers LLP, Catalina’s independent registered certified public accounting firm, has not examined or compiled any of the forecasted financial information included in any of the presentations filed as Exhibits to this Schedule 13E-3.

     (b) Pro forma information. Not applicable.

Item 14. Persons/Assets, Retained, Employed, Compensated or Used

     (a) Solicitations or recommendations. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers About the Special Meeting and the Merger”, “Special Factors—Background of the Merger”, “Special Factors—Recommendation of the Special Committee and Board of Directors; Reasons for Recommending Adoption of the Merger Agreement and the Factors Considered in Determining Fairness”, “Special Factors—Interests of Certain Persons in the Merger”, “Special Factors—Initial Special Committee and Special Committee Compensation”, “Special Factors—Estimated Fees and Expenses” and “The Special Meeting—Solicitation of Proxies; Expenses” is incorporated herein by reference.

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     (b) Employees and corporate assets. The information set forth in the sections of the Proxy Statement entitled “Summary Term Sheet”, “Questions and Answers about the Special Meeting and the Merger”, “Special Factors—Background of the Merger”, “Special Factors—Interests of Certain Persons in the Merger”, “Special Factors—Initial Special Committee and Special Committee Compensation”, “Special Factors—Estimated Fees and Expenses”, “The Merger Agreement—Expenses and Termination Fees” and “The Special Meeting—Solicitation of Proxies; Expenses” is incorporated herein by reference.

Item 15. Additional Information

     (b) Other material information. The information set forth in the Proxy Statement, including all annexes thereto, is incorporated herein by reference.

Item 16. Exhibits

     (a) (1) Proxy Statement (incorporated herein by reference to the Proxy Statement).

     (a) (2) Form of Proxy Card (incorporated herein by reference to the Proxy Statement).

     (a) (3) Letter to Stockholders (incorporated herein by reference to the Proxy Statement).

     (a) (4) Notice of Special Meeting of Stockholders (incorporated herein by reference to the Proxy Statement).

     (a) (5) Press Release dated April 17, 2007 (incorporated herein by reference to Exhibit 99.1 of the Current Report on Form 8-K filed by Catalina Marketing Corporation with the Securities and Exchange Commission on April 17, 2007).

     (a) (6) Letter from L. Dick Buell to Catalina Marketing Corporation’s employees regarding Catalina Marketing Corporation entering into the Merger Agreement with Hellman & Friedman Capital Partners VI, L.P. (incorporated herein by reference to Exhibit 99.2 of the Current Report on Form 8-K filed by Catalina Marketing Corporation with the Securities and Exchange Commission on April 17, 2007).

     (b) (1) Limited Guarantee, dated April 17, 2007, from Hellman & Friedman Capital Partners VI, L.P. in favor of Catalina Marketing Corporation (incorporated herein by reference to Annex G of the Proxy Statement).

     (c) (1) Opinion of Goldman, Sachs & Co., dated April 17, 2007 (incorporated herein by reference to Annex B of the Proxy Statement).

     (c) (2) Opinion of Lazard Frères & Co. LLC, dated April 17, 2007 (incorporated herein by reference to Annex C of the Proxy Statement).

     (c) (3) Presentation, dated November 9, 2006, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (c) (4) Presentation, dated December 13, 2006, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (c) (5) Presentation, dated December 22, 2006, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

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     (c) (6) Presentation, dated December 28, 2006, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (c) (7) Presentation, dated February 28, 2007, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (c) (8) Presentation, dated February 28, 2007, prepared by Lazard Frères & Co. LLC for the Special Committee of the Board of Directors of Catalina Marketing Corporation.

     (c) (9) Presentation, dated March 8, 2007, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (c) (10) Presentation, dated March 8, 2007, prepared by Lazard Frères & Co. LLC for the Special Committee of the Board of Directors of Catalina Marketing Corporation.

     (c) (11) Presentation, dated April 17, 2007, prepared by Lazard Frères & Co. LLC for the Special Committee of the Board of Directors of Catalina Marketing Corporation.

     (c) (12) Presentation, dated April 17, 2007, prepared by Goldman, Sachs & Co. for the Board of Directors of Catalina Marketing Corporation.

     (d) (1) Agreement of Merger, dated as of April 17, 2007, by and among Catalina Marketing Corporation, Checkout Holding Corp., and Checkout Acquisition Corp. (incorporated herein by reference to Annex A of the Proxy Statement).

     (d) (2) Voting Agreement, dated March 8, 2007, between Catalina Marketing Corporation and ValueAct Capital Master Fund, L.P. (incorporated herein by reference to Annex F of the Proxy Statement).

     (d) (3) Voting Agreement, dated April 17, 2007, between Catalina Marketing Corporation and Antaeus Enterprises Inc. (incorporated herein by reference to Annex E of the Proxy Statement).

     (f) Section 262 of the Delaware General Corporation Law (incorporated herein by reference to Annex D of the Proxy Statement).

     (g) None.

8

SIGNATURE

     After due inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated as of June 18, 2007

CATALINA MARKETING CORPORATION
By:	/s/ L. Dick Buell
	Name:	L. Dick Buell
	Title:	Chief Executive Officer
/s/ L. Dick Buell
L. Dick Buell

9

EX-99.(C)(3)

Exhibit(c)(3)

Presentation to Colorprint Board Discussion Materials

Goldman, Sachs & Co. 9-Nov-2006

Table of Contents

I. Executive Summary II. Valuation Update III. Strategic Alternatives Appendix A: Financial Sponsors Profiles Appendix B: Additional Information Appendix C: Hellman & Friedman Proposal

Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

I. Executive Summary

Hellman & Friedman Preliminary Indication of Interest Key Transaction Terms

100% ACQUISITION – ALL CASH CONSIDERATION Date of Letter ? October 20, 2006 Equity consideration per share ? $33.00-$34.00 Expected Source of Financing ? Equity provided by H&F Funds only ? Source of debt financing not specified Timing Issues ? Request access to management and non-public information for four weeks following confidentiality agreement ? Request 6 week exclusivity period to reach an agreement Position Regarding Existing Management ? Will only pursue a transaction that has the support of Colorprint’s board of directors and management Other Considerations / Assumptions ? Based on publicly available information ? Willing to provide a post-signing “market check” for valuation ? Marketing services is an area of investment focus for H&F: — Part of consortium that acquired VNU in June 2006 — Invested $315 mm in take private transaction of DoubleClick in 2005 — 1996 and 1996 minority stake investments in Young & Rubicam and Digitas

Advisors ? Not disclosed

Illustrative Analysis at Various Prices ($ in millions, except per share data) Illustrative Analysis at Various Prices ($ in millions, except per share data) Premium to Current Price 0.0 % 10.0% 20.0%30.0% 40.0%50.0% Price Per Share $ 24.93 $ 27.42 $ 29.92 $ 32.41 $ 34.90 $ 37.40 Equity Value 1,169 1,296 1,4331,569 1,7061,843 Net Debt (at 30-Sep-06) 79 7979 79 7979 Enterprise Value 1,2481,375 1,512 1,649 1,785 1,922 Premium to: 30 Day Average $ 27.08 (8.0)% 1.2 % 10.5 % 19.7 % 28.9 % 38.1 % 60 Day Average 27.28 (8.6) 0.5 9.7 18.8 27.9 37.1 90 Day Average 27.61 (9.7) (0.7) 8.4 17.4 26.4 35.5 180 Day Average 27.92 (10.7) (1.8) 7.2 16.1 25.0 33.9 52 Week High Price 29.77 (16.3) (7.9) 0.5 8.9 17.2 25.6 EBITDA ¹ Management / IBES LTM — 9/30/06 $ 151.9 8.2 x 9.1 x 10.0 x 10.8 x 11.7 x 12.6 x CY2006E — Management $ 152.8 8.2 x 9.0 x 9.9 x 10.8 x 11.7 x 12.6 x CY2006E — IBES ² 152.7 8.2 9.0 9.9 10.8 11.7 12.6 CY2007E — Management 168.7 7.4 8.2 9.0 9.8 10.6 11.4 CY2007E — IBES ³ 157.9 7.9 8.7 9.6 10.4 11.3 12.2 EPS CY2006E — Management $ 1.46 17.1 x 18.8 x 20.5 x 22.3 x 24.0 x 25.7 x CY2006E — IBES ² 1.41 17.7 19.4 21.2 23.0 24.8 26.5 CY2007E — Management 1.50 16.6 18.3 19.9 21.6 23.2 24.9 CY2007E - IBES ³ 1.40 17.8 19.6 21.3 23.1 24.9 26.7 PEG (LT — IBES) CY 2006E P/E 9.3 % 1.9 x 2.1 x 2.3 x 2.5 x 2.7 x 2.8 x CY 2007E P/E 9.3 1.9 2.1 2.3 2.5 2.7 2.9 Executive Summary 4

II. Valuation Update

Market Performance Price Appreciation by Sector

—

2000 2001 2002 2003 2004 2005 2006YTD1 — — Colorprint 0.9% (10.9)% (46.7)% 9.0% 47.0% (14.4)% (1.7)% — —

Sectors — — Marketing Services2 8.9% 12.9% (17.4)% 21.1% 19.4% (12.5)% 2.1% — — Information Services3 18.7 42.2 (0.3) 30.9 17.6 20.4 0.1 — — Advertising4 (17.1) (17.3) (37.6) 23.5 (3.4) 1.0 6.6 — — Publishing5 (13.1) (9.0) (14.4) 24.6 21.2 5.4 26.9 — —

Industry Standards — — S&P 500 (10.1)% (13.0)% (23.4)% 26.4% 9.0% 3.0% 10.5% — — NASDAQ Composite Index (39.3) (21.1) (31.5) 50.0 8.6 1.4 7.3

— 1 As of 6-Nov-2006. 2 Marketing Services: Acxiom, Harte Hanks, InfoUSA, Valassis, and Advo. 3 Information Services: Moody’s, Dun & Bradstreet, Equifax, Alliance Data Systems, Fair Isaac, First Advantage and ChoicePoint. 4 Advertising: Omnicom Group, Interpublic, Publicis, Havas, and WPP Group. 5 Publishing: News Corp, Thomson Corporation, McGraw-Hill, and Wolters Kluwer.

Colorprint Shares Traded at Various Prices

Colorprint Shares Traded at Various Prices

Colorprint Enterprise Value / EBITDA Trading History Three Years

Comparison of Selected Companies ($ in millions, except per share data) — Comparison of Selected Companies ($ in millions, except per share data) Closing      % of            Equity            Calendarized 5-Year 2006 PE 2007 PELTM Price 52 Week            MarketEnterpriseEnterprise Value / EBITDA P/E Multiples ² Est. EPS to 5-Year to 5-YearEBITDA Company 06-Nov-06High            Cap ¹ Value ¹ LTM ¹ 2006E 2007E 2006 2007 CAGR ² CAGR ² CAGR ²Margin ¹ Colorprint — IBES $ 24.9384 % $ 1,169 $ 1,2488.2 x 8.2 x 7.9 x 17.7 x 17.8 x 9.3 % 1.9 x 1.9 x34.5 % Colorprint — Management 8.2 7.4 17.1 16.6 Marketing Services Acxiom $ 25.1295 % $ 2,265 $ 2,9687.3 x 7.4 x 7.0 x 25.8 x 21.1 x 15.0 % 1.7 x 1.4 x29.7 % Harte Hanks 25.8786 2,096 2,22710.1 10.2 9.5 18.7 16.9 11.2 1.7 1.518.8 Advo 28.7778 914 1,0379.9 9.9 NA 22.1 15.7 15.0 1.5 1.07.3 Valassis Communications 15.1248 723 8966.5 6.5 6.8 9.6 10.1 7.0 1.4 1.412.9 InfoUSA 11.6690 650 7838.9 8.5 7.2 18.2 13.6 NA            NA            NA21.5 Median 86 % 8.9 x 8.5 x 7.1 x 18.7 x 15.7 x 13.1 % 1.6 x 1.4 x15.9 % Mean 79 8.5 8.5 7.6 18.9 15.5 12.0 1.6 1.417.2 Information Services Moody’s $ 66.0691 % $ 19,434 $ 19,50418.8 x 17.5 x 15.9 x 30.2 x 27.0 x 15.0 % 2.0 x 1.8 x56.2 % Alliance Data 59.9399 4,966 5,56413.6 11.0 9.8 19.5 16.9 18.0 1.1 0.923.1 Dun & Bradstreet 77.6499 5,068 5,30611.6 11.7 10.7 19.8 17.1 13.3 1.5 1.330.8 ChoicePoint 37.0080 3,210 3,4019.8 10.1 9.6 22.7 19.5 15.0 1.5 1.333.0 Fair Isaac 39.6182 2,597 2,68111.5 NA 9.3 17.8 15.9 15.0 1.2 1.128.3 First Advantage 20.0466 1,164 1,4209.8 8.8 7.7 19.1 16.6 20.0 1.0 0.821.0 Median 87 % 11.6 x 11.0 x 9.7 x 19.6 x 17.0 x 15.0 % 1.3 x 1.2 x29.5 % Mean 86 12.5 11.8 10.5 21.5 18.8 16.0 1.4 1.232.1 Advertising Omnicom Group $ 101.25100 % $ 17,731 $ 20,02211.7 x 12.0 x 11.0 x 20.3 x 18.1 x 12.0 % 1.7 x 1.5 x15.6 % WPP Group 12.5894 16,272 18,73610.6 10.3 9.6 16.4 14.7 10.0 1.6 1.516.1 Publicis Groupe 37.4688 8,736 8,6777.5 8.2 7.8 15.9 14.6 3.0 5.3 4.921.9 Interpublic Group 10.5995 4,668 6,228NM 17.4 9.5 NM 46.0 10.0 NA 4.6 NM Havas 4.8191 2,062 2,66810.6 11.8 10.1 27.6 19.9 6.5 4.3 3.113.6 Median 94 % 10.6 x 11.8 x 9.6 x 18.3 x 18.1 x 10.0 % 3.0 x 3.1 x15.9 % Mean 94 10.1 12.0 9.6 20.0 22.7 8.3 3.2 3.116.8 Publishing News Corp $ 20.9099 % $ 66,703 $ 72,62815.6 x 14.2 x 12.7 x 22.4 x 19.0 x 18.0 % 1.2 x 1.1 x18.3 % Thomson Corporation 41.1297 26,450 30,74514.3 12.2 11.3 24.5 22.2 13.5 1.8 1.624.0 McGraw-Hill 65.49100 24,329 24,80013.9 15.1 13.5 26.2 23.0 12.5 2.1 1.828.9 Wolters Kluwer 27.5298 8,453 9,71714.2 10.8 9.3 17.9 14.9 9.0 2.0 1.715.2 Median 98 % 14.2 x 13.2 x 12.0 x 23.4 x 20.6 x 13.0 % 1.9 x 1.7 x24.0 % Mean 98 14.5 13.1 11.7 22.7 19.8 13.2 1.8 1.623.8

Valuation Update10

Illustrative Discounted Cash Flow Analysis Valuation Date November 6, 2006 ($ in millions, except per share data)

As of 31-December

2006 2007 2008 2009 2010 2011 Sales $ 454.1 $ 498.8 $ 526.2 $ 555.2 $ 585.7$ 617.9 EBIT 110.1 119.7 128.9 141.5 155.0 166.3 Taxes1 41.9 45.5 49.0 53.8 58.9 63.2

D&A $ 42.7 $ 48.9 $50.0 $ 50.0 $ 50.0 $ 50.0 Change in Working Capital 0.0 (5.0) 1.2 1.3 1.4 1.4 Capex 117.0 55.0 50.0 50.0 50.0 50.0

Unlevered Free Cash Flow $ (6.0) $ 63.2 $81.1 $ 89.1 $ 97.5$ 104.5 Adjustment to year 12 2.0 Unlevered Free Cash Flow (3.9) 63.2 81.1 89.1 97.5 104.5 PV of Cash Flow (3.9) 59.5 69.7 69.9 69.9 68.4

Discounted Cash Flow            Assumptions Value of FCF $ 333.3 Projections 5 Management Terminal Value 1,216.8 Colorprint WACC 9.5 % PV of FCF’s 1,550.1 Change in Working Capital 5 Management Tax Rate 1 38.0 % Net Debt3 $ 79.3 Terminal LTM EBITDA Multiple 9.0 x Equity Value 1,470.8 Diluted Shares Outstanding4 48.0 Valuation as of 6-Nov-06 Implied Share Price $ 30.61

Valuation Update11

Illustrative DCF Sensitivities

Terminal LTM EBITDA Multiple $ 0.08.0 x 8.5 x 9.0 x 9.5 x 10.0 x

Discount 8.0 %$ 29.86 $ 31.19 $ 32.51 $ 33.84 $ 35.16 Rate 9.0 %28.72 29.98 31.24 32.51 33.77 10.0 %27.63 28.84 30.04 31.25 32.45

Implied Share Price            Implied Share Price

Incremental YOY Increase in Revenue Growth1 Incremental EBITDA Margin Increase2 $ 0.0(2.0)% (1.0)% 0.0 % 1.0 % 2.0 % $ 0.0 (2.0)% (1.0)%0.0 % 1.0 % 2.0 %

Discount 8.0 %$ 30.05 $ 31.26 $ 32.51 $ 33.83 $ 35.20 8.0 %$ 30.54$ 31.52$ 32.51 $ 33.50 $ 34.49 Rate 9.0 %28.89 30.04 31.24 32.50 33.81 9.0 % 29.34 30.2931.24 32.20 33.15 10.0 %27.79 28.89 30.04 31.25 32.50 10.0 % 28.21 29.1330.04 30.96 31.87

Selected Precedent Transactions Since 2003 ($ in millions)

LTM Multiples Date            Target            Acquiror            Levered Value Sales            EBITDA            EBIT            Consideration Announced Sep-06 CPC            ADS $ 70NA            NA 14.0 x Cash Jul-06ADVO            Valassis 1,3160.9 9.1x / 12.6x ¹21.6 Cash Aug-06 PRIMIS            Parthenon Capital 115 NA 8.0 NACash Feb-06 Doubleclick Email            ADS 902.3 10.0 NACash Jan-06 Clarity Blue            Experian 188 ²3.3 NA 20.0 Cash Jan-06 VNU NV            Valcon Acquisition 11,5662.2 11.3 19.0 Cash Sep-05 Bigfoot Interactive            ADS 1204.0 14.0 NACash Aug-05 Communications Group            WPP Group plc 68 NA            NA            NACash Jul-05Cendant Marketing Services Division            Apollo 1,8251.4 8.2 10.5 Cash Mar-05 Digital Impact Inc. Acxiom 115 NA            NA            NACash Mar-05 Tampa Flyer            Harte Hanks 60 NA            NA            NACash Apr-05 DoubleClick            Hellman & Friedman 8052.0 13.4 37.1 Cash Oct-04 Epsilon Data Management            ADS 3002.5 12.5 NACash Sep-04 Grey Global Group            WPP Group plc 1,5200.9 17.2 NACash/Stock Jul-04Seisint, Inc. Reed Elsevier 7756.7 17.2 NACash Jun-04 Information Holdings            Thomson Corp. 4415.4 NA            NACash May-04 TradeWeb            Thomson Corp. 535 NA            NA            NACash Apr-04 OneSource Information Services            infoUSA Inc 851.5 NA 18.6 Cash Apr-04 Direct Group            Investor Group 50 NA            NA            NACash Aug-03 INFO1 LandAmerica Finl Group Inc 47 NA            NA            NACash Aug-03 Peter Black Direct            Merck 25 NA            NA             NACash Marketing Jun-03 Factual Data Corp            Kroll Inc 1131.6 NA 7.3 Cash/Stock Jun-03 Cordiant Communications            WPP Group plc 3310.7 6.5 NACash May-03 Tele-V            National Mgmt Consulting 42 NA            NA            NACommon Stock May-03 Mosaic Sales Solutions            JLL Partners 76 NA            NA            NACash May-03 NFO WorldGroup            Taylor Nelson Sofres 4350.9 8.3 11.6 Cash Apr-03 Insurance Mgmt Solutions Group            Fiserv Inc 411.4 NM            NMCash Mar-03 Scorex            Experian 1112.4 NA            NACash Feb-03 Zenith Optimedia            Publicis Groupe SA 119 NA            NA            NAUndisclosed Jan-03 Nordic Info Group A/S            Experian 1423.0 8.2 15.2 Cash Median 2.1 x 11.3 x 16.9 x

Valuation Update13

Comparison of Selected Premiums 100% Cash Consideration, Last 3 Years1 ($ in millions) Premium Announced            Target            Acquiror            Equity Value 1 Day 1 Week 4 Weeks 11/06/06 Per-Se            McKesson Corp $ 1,095 14.5 % 16.5 % 19.3 % Technologies 08/23/06 Internet Sec Sys Group IncIBM Corp 1,303 7.7 8.2 16.9 08/10/06 FileNet Corp            IBM Corp 1,557 1.0 4.0 29.1 07/09/06 Heritage Ppty Invest            Centro Properties Group 1,753 3.3 3.5 3.6 Trust Inc 05/14/06 SSA Global Technologies Infor Global Solutions 1,529 25.1 24.0 25.8 Inc 05/01/06 Aviall Inc            Boeing Co 1,716 27.3 28.7 27.2 04/27/06 Diagnostic Products Corp Siemens Medical Solutions Inc 1,767 20.7 17.7 24.5 04/25/06 Serologicals            Millipore Corp 1,389 35.3 34.3 33.1 Corp 04/20/06 Ubiquitel Inc            Sprint Nextel Corp 1,035 1.6 1.9 3.1 01/22/06 Sports            Investor Group 1,021 20.0 26.0 20.8 Authority Inc 11/20/05 Beverly Enterprises Inc Fillmore Capital Partners LLC 1,593 33.3 35.9 36.8 11/10/05 SERENA Software Inc            Silver Lake Partners 1,026 2.7 7.3 24.4 11/08/05 Linens n            Investor Group 1,295 7.9 14.9 17.0 Things Inc 10/24/05 Amli Residential Ppty            Prime Property Fund 1,177 20.7 22.7 19.1 Trust 10/16/05 Adv Neuromodulations Sys St Jude Medical Inc 1,369 30.4 22.8 21.8 Inc 09/29/05 IDX Systems            GE Healthcare Ltd 1,488 25.1 33.6 38.8 Corp 09/15/05 UICI            Investor Group 1,719 19.1 17.1 19.9 08/04/05 Metris Cos Inc            HSBC Finance Corp 1,575 1.1 0.5 3.2 07/21/05 Priority Healthcare Corp Express Scripts Inc 1,252 7.7 9.3 10.7 07/10/05 US Unwired Inc            Sprint Corp 1,072 1.5 4.3 24.3 06/16/05 Vicuron Pharmaceuticals Pfizer Inc 1,916 84.2 78.6 68.4 Inc 06/13/05 Commercial            Bank of the West,CA 1,367 34.1 34.8 36.1 Federal,Omaha,NE 06/07/05 Gables Residential Trust Investor Group 1,272 14.1 19.5 17.1 05/16/05 Overnite Corp            UPS 1,220 46.2 35.8 42.7 05/12/05 Cuno Inc 3M Co 1,290 31.3 34.7 36.8 04/21/05 Transkaryotic Therapies Shire Pharmaceuticals Grp PLC 1,384 21.6 38.1 55.5 Inc 03/14/05 Ascential Software Corp IBM Corp 1,121 17.8 17.0 16.8 01/31/05 Pulitzer Inc            Lee Enterprises Inc 1,432 1.8 (1.5) (0.9) 01/27/05 Genencor International IncDanisco A/S 1,151 23.9 22.4 15.8 11/24/04 Ionics Inc            GE Infrastructure Inc 1,072 47.9 43.0 52.5 11/03/04 Argosy Gaming            Penn National Gaming Inc 1,408 16.4 11.1 17.8 Co 10/20/04 Boca Resorts            Blackstone Real Estate Advisor 1,031 27.9 30.7 31.1 Inc 10/19/04 Robert Mondavi Corp             Constellation Brands Inc 1,030 49.9 52.3 50.9 10/18/04 Select Medical            EGL Holding Co 1,983 26.6 27.8 39.3 Corp 09/29/04 Orbitz Inc            Cendant Corp 1,229 34.5 33.8 48.4 07/13/04 National Processing Inc Bank of America Corp 1,425 (9.5) (8.0) (8.8) 05/24/04 NeighborCare            Omnicare Inc 1,410 96.7 94.4 44.2 Inc 05/24/04 WFS Financial            Westcorp,Irvine,CA 1,940 3.5 6.2 5.1 Inc 05/19/04 ALARIS Medical Systems IncCardinal Health Inc 1,743 18.4 11.6 17.8 05/18/04 Kroll Inc            Marsh & McLennan Cos Inc 1,958 32.4 32.9 34.6 03/22/04 US Oncology Inc            Welsh Carson Anderson & Stowe 1,302 18.5 20.3 17.3 03/15/04 InVision Technologies Inc GE Infrastructure Inc 1,159 21.3 23.3 31.3 01/13/04 TheraSense Inc            Abbott Laboratories 1,243 33.0 35.5 50.0 12/21/03 Esperion Therapeutics Inc Pfizer Inc 1,281 54.2 52.8 57.6 Median—100% Cash 21.0 % 22.7 % 24.4 % Transactions

1. Includes equity values between $1 billion and $2 billion over last three years. US public company targets only.

Valuation Update 14

III. Strategic Alternatives

Colorprint Summary Financials ($ in millions) For FY Ended 31-Mar            For FY Ending 31-Dec 2002 ¹ 2003 2004 2005 2006 2006E 2007E Income Statement Net revenues $ 367.9 $ 383.8 $ 408.6 $ 410.1 $ 417.7 $ 454.1 $ 498.8 % YOY growth 8.2 % 4.3 % 6.5 % 0.3 % 1.9 % NA 9.8 % EBITDA $ 136.5 $ 127.0 $ 143.4 $ 151.2 $ 150.2 $ 152.8 $ 168.7 % YOY growth 9.1 % (6.9)% 12.9 % 5.5 % (0.7)% NA 10.4 % % EBITDA margin 37.1 33.1 35.1 36.9 35.9 33.7 33.8 Operating income $ 95.6 $ 86.1 $ 98.1 $ 108.8 $ 114.2 $ 110.1 $ 119.7 % YOY growth 17.3 % (9.9)% 13.9 % 10.9 % 4.9 % 9.0 % 8.7 % % Operating margin 26.0 22.4 24.0 26.5 27.3 24.2 24.0 Net Income from Operations $ 66.6 $ 51.6 $ 60.4 $ 68.6 $ 71.6 $ 68.1 $ 69.3 % YOY growth 19.8 % (22.6)% 17.1 % 13.6 % 4.4 % 3.2 % 1.6 % Diluted EPS $ 1.17 $ 0.94 $ 1.15 $ 1.31 $ 1.46 $ 1.46 $ 1.50 % YOY growth 21.5 % (19.5)% 22.9 % 13.5 % 11.7 % 11.1 % 3.2 % Diluted Shares Outstanding 57.1 54.9 52.3 52.4 48.9 46.8 46.1 Balance Sheet Total assets $ 415.9 $ 422.4 $ 386.8 $ 392.7 $ 337.1 NA NA Cash & securities ² 13.7 1.772.7 116.2 28.1 32.2 NA Debt ² 60.9 68.2 66.964.6 61.9 111.6 NA Shareholders equity ² 223.3 216.0 184.7 196.4 143.2 164.7 NA Selected Data ROACE 32.8 % 23.5 % 30.1 % 36.0 % 42.2 % 37.1 % NA Debt / Total Capital 21.4 24.0 26.6 24.8 30.2 40.4 NA Debt / EBITDA 0.4 x 0.5 x 0.5 x 0.4 x 0.4 x 0.7 x NA Free Cash Flow $ 73.3 $ 64.7 $ 96.3 $ 85.6 $ 42.6 $(6.0) $ 63.2 Strategic Alternatives 16

Grey Page

Strategic Alternatives 17

Illustrative Leveraged Recapitalization Analysis Assumptions

Transaction Assumptions            Financing Assumptions / Indicative Terms Transaction as of 31-Dec-2006 •|_|•|_||_||_||_|[Pisces]|X|• [Pisces]•••[Scorpio]• [Libra][Scorpio][Leo]• •|_| [Sagittarius]•|X|[Libra] •[Aqueous][Cancer]|_|[Scorpio] [Leo]•|^|[Leo][Cancer][Virgo]& EBITDA of $153mm for 12 months ending 12/31/06 *[Scorpio][Sagittarius][Pisces]|X|[Cancer]|X|[Virgo][Scorpio] $111.6mm of existing debt 38% tax rate *[Cancer]|X| [Sagittarius]|_|•|_| •[Virgo][Scorpio]|X|[Cancer]|_|[Pisces]|_|• Issuance size $150mm $200mm $300mm $400mm Buyback Amount $35mm $84mm$182mm $280mm Buyback as % of Market Cap 2.9% 6.8% 14.4% 21.7% Cost of Debt            L + 100L + 150 L + 150 L + 175 Roll-Forward Assumptions            Pro Forma Credit Rating            BB / Ba2 BB / Ba2BB / Ba2 BB- / Ba3 2007 based on management projections Pro-Forma 2006 Debt / EBITDA 1.0x1.3x 2.0x 2.6x Assumes 5.5% revenue growth from 2008-2011

Assumes gradual increase in EBITDA margin from 33.8% in 2007E to 35.0% in 2010

— Targets bottom-line growth in low double digits

Assumes Capex of $50mm for 2008-2011

Assumes 2008-2011 D&A equal to Capex

Assumes            pre-tax standalone interest expense of $8mm

Strategic Alternatives18

Illustrative Leveraged Recapitalization Analysis Sensitivity Analysis ($ in millions, except per share amounts)

$150mm Debt Issuance and $35mm Buyback1 (L + 100bps) $200mm Debt Issuance and $84mm Buyback ¹ (L + 150bps) IRR Sensitivity            IRR Sensitivity Per Share Repurchase Price            Per Share Repurchase Price 10% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 11% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 x 10.3% 10.2% 10.2% 10.1% 10.1% 8.0 x 11.3% 11.1% 11.0% 10.9% 10.8% 2011 EBIMulti9.0 12.8% 12.8% 12.7% 12.7% 12.6%2011 Mult9.0e 13.9% 13.7% 13.6% 13.5% 13.4% EBITDA 10.0 15.2% 15.1% 15.1% 15.0% 15.0% 10.0 16.2% 16.1% 16.0% 15.8% 15.8% 2007 EPS Accretion / (Dilution) 2007 EPS Accretion / (Dilution) Per Share Repurchase Price            Per Share Repurchase Price 283% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 315% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 % 3.1 % 2.9 % 2.6 % 2.4 % 2.3 % 8.0 % 4.0 % 3.4 % 2.8 % 2.3 % 1.9 %

$ 300mm Debt Issuance and $182mm $ 400mm 280mm Buyback ¹ (L + 150bps) Debt            Buyback ¹ Issuance (L and + $ 175bps) IRR Sensitivity            IRR Sensitivity Per Share Repurchase Price            Per Share Repurchase Price 13% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 14% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 x 13.5% 13.1% 12.9% 12.6% 12.4% 8.0 x 15.1% 14.5% 14.0% 13.5% 13.2% 2011 EBIMulti9.0 16.1% 15.8% 15.5% 15.2% 15.0%2011 Mult9.0e 17.9% 17.2% 16.7% 16.3% 15.9% EBITDA 10.0 18.5% 18.2% 17.9% 17.6% 17.4% 10.0 20.4% 19.8% 19.3% 18.8% 18.4% 2007 EPS Accretion / (Dilution) 2007 EPS Accretion / (Dilution) Per Share Repurchase Price            Per Share Repurchase Price 498% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 559% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 % 7.6 % 6.0 % 4.6 % 3.5 % 2.5 % 8.0 % 10.8 % 8.0 % 5.6 % 3.7 % 2.1 %

1 Includes refinancing of $111.6mm of existing debt.

Strategic Alternatives 19

Illustrative Leveraged Recapitalization Analysis Earnings per Share Impact ($ in millions, except per share amounts) CY 2007 EPS Impact Debt Issued $ 150.0 $ 200.0 $ 300.0 $ 400.0 Less: Refinanced Debt 111.6 111.6 111.6 111.6 Equity Repurchased 35.4 84.4 182.4 280.4 Pre-Tax Cost of Debt 6.20 % 6.70 % 6.70 % 6.95 % Assumed Repurchase Premium 5.0 % 7.5 % 10.0 % 12.5 % Shares Repurchased 1.4 3.2 6.7 10.0 % of Shares Outstanding 2.9 % 6.8 % 14.4 % 21.7 % Accretion / (Dilution) Standalone 2007E Net Income $ 69.3 $ 69.3 $ 69.3 $ 69.3 Less: Incremental After-tax Interest Expense (0.1) (2.7) (7.0) (12.0) Pro Forma 2007E Net Income $ 69.1 $ 66.6 $ 62.2 $ 57.3 Avg. Fully Diluted Shares Outstanding 46.1 46.1 46.1 46.1 Less: Shares Repurchased (1.4) (3.2) (6.7) (10.0) Pro Forma Avg. Fully Diluted Shares Outstanding 44.7 42.9 39.4 36.1 Standalone 2007E EPS $ 1.50 $ 1.50 $ 1.50 $ 1.50 Pro Forma 2007E EPS 1.55 1.55 1.58 1.59 Accretion / (Dilution) 2.8 % 3.1 % 5.0 % 5.6 % Strategic Alternatives 20

Illustrative Leveraged Recapitalization Analysis Potential Share Price Appreciation ($ in millions, except per share data) 2007 — Pro Forma Share Price (PV) 2008 — Pro Forma Share Price (PV) Debt Issued $ 150 $ 200 $ 300 $ 400 $ 150 $ 200 $ 300 $ 400 Pro Forma EPS $ 1.55 $ 1.55 $ 1.58 $ 1.59 $ 1.72 $ 1.74 $ 1.78 $ 1.81 Forma 18.0 x $ 27.81 $ 27.90 $ 28.39 $ 28.55 Forma 16.0 x $ 27.55 $ 27.81 $ 28.52 $ 28.99 P/E 19.0 29.36 29.44 29.97 30.14 P/E 17.0 29.27 29.54 30.30 30.80 Pro            Pro 20.0 30.90 30.99 31.54 31.73 18.0 31.00 31.28 32.08 32.62 Appreciation from Current            Appreciation from Current Forma 18.0 x 11.6 % 11.9 % 13.9 % 14.5 % Forma 16.0 x 10.5 % 11.5 % 14.4 % 16.3 % P/E 19.0 17.8 18.1 20.2 20.9 P/E 17.0 17.4 18.5 21.5 23.6 Pro            Pro 20.0 23.9 24.3 26.5 27.3 18.0 24.3 25.5 28.7 30.8

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Illustrative LBO Analysis (Based on a 25% premium to 6-Nov-06 close of $24.93; Transaction Close 12/31/06) Sources and Uses 4.58x Senior Debt; 6.55x Total Debt LTM 12/31/2006 Sources % Cap EBITDA ($153mm) Pricing Uses $150mm Revolver $0.0 0%0.0 x Purchase Equity $1,500.9 Term Loan B 700.0 43% 4.6 x L+275 Refinance Existing Debt ¹ 111.6 Total Sr. Secured Debt $700.0 43% 4.6 x Estimated Fees/ Expenses 32.4 5 Year Zero 125.0 8% 0.8 x 11.0% area Senior Subordinated Debt 175.0 11% 1.1 x 10.0% area Total Debt $1,000.0 61% 6.5 x Equity Contribution 644.9 39% 10.8 x Total Sources $1,644.9 100% 10.8 x Total Uses $1,644.9 Strategic Alternatives 23

Illustrative LBO Returns Analysis Returns at Various Exit Dates – Assumes 6.55x Leverage, Exit at 9x LTM EBITDA Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 1230% 10.0%15.0% 20.0%25.0% 30.0%35.0% 2010 22.5 % 18.2 % 14.5 % 11.3 % 8.6 % 6.1 % Exit Date 2011 21.2 17.8 14.8 12.3 10.0 8.0 2012 20.2 17.3 14.9 12.8 10.9 9.2 Returns at Various Exit Multiples – Assumes 6.55x Leverage Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 12% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% EBITDA Multiple 8.0x 16.3 % 13.0 % 10.1 % 7.7 % 5.6 % 3.6 % 8.5x 18.8 15.5 12.6 10.1 7.9 5.9 9.0x 21.2 17.8 14.8 12.3 10.0 8.0 2011 Exit 9.5x 23.4 19.9 16.9 14.3 12.0 10.0 10.0x 25.4 21.9 18.8 16.2 13.9 11.8 Returns at Various Leverage Levels – Assumes Exit at 9x 2011 LTM EBITDA Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 12% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% EBITDA 5.0x 16.6 % 14.4 % 12.4 % 10.6 % 8.9 % 7.4 % 5.5x 17.8 15.3 13.0 11.0 9.2 7.6 Debt / at Close 6.0x 19.2 16.3 13.8 11.6 9.6 7.8 LTM 6.5x 21.0 17.6 14.7 12.2 10.0 8.0 7.0x 23.4 19.3 15.9 13.0 10.5 8.3 Strategic Alternatives 24

Base Case for Illustrative LBO Analysis 1

in millions) ($

Pro Forma            FY Ended December 31, ($ in millions) LTM 12.31.06 2007E2008E 2009E 2010E 2011E OPERATIONAL DATA Total Sales $ 454.1$ 498.8$ 526.2$ 555.2$ 585.7$ 617.9 growth 9.8% 5.5% 5.5% 5.5% 5.5% EBITDA 152.8 168.7 178.9 191.5 205.0 216.3 margin 33.6% 33.8% 34.0% 34.5% 35.0% 35.0% $ 110.1$ 119.7$ 128.9$ 141.5$ 155.0$ 166.3 EBIT Total Interest Expense 87.9 87.5 86.1 84.5 82.0 78.3 Net Income (Loss) to Common 20.0 26.6 35.3 45.3 54.6 SELECTED CASH FLOW DATA: Adjusted EBITDA $ 152.8$ 168.7$ 178.9$ 191.5$ 205.0$ 216.3 +/-Changes in Working Capital 0.0 (5.0) 1.2 1.3 1.4 1.4 — Total Capital Expenditures (117.0) (55.0) (50.0) (50.0) (50.0) (50.0) = Operating Cash Flow 35.8 108.7 130.2 142.8 156.4 167.7 — Cash Taxes (8.4) (12.2) (16.3) (21.7) (27.7) (33.4) — Cash Interest Expense (net) (87.9) (84.8) (69.2) (66.1) (61.8) (56.1)

= Cash for Debt Service (60.6) 11.7 44.7 55.1 66.9 78.2 Cumulative Cash for Debt Service 11.7 56.3 111.4 178.3 256.5

CAPITALIZATION: $ 15.0$ 15.0$ 15.0$ 15.0$ 15.0$ 15.0 Cash Bank Revolver $ 0.0 $ 0.0$ 0.0 $ 0.0$ 0.0 $ 0.0 Term Loan B 700.0 688.3 643.7 588.6 521.7 443.5 Total Bank Debt $ 700.0$ 688.3$ 643.7$ 588.6$ 521.7$ 443.5 Senior Subordinated Debt 175.0 175.0 175.0 175.0 175.0 175.0 5 Year Zero 125.0 125.0 139.1 154.9 172.4 191.8 Total Debt $ 1,000.0$ 988.3$ 957.8$ 918.4$ 869.0$ 810.3 Shareholders’ Equity 644.9 664.8 691.4 726.8 772.0 826.6 Total Capitalization 1,644.9 1,653.2 1,649.2 1,645.2 1,641.1 1,636.9

CREDIT STATISTICS: EBITDA / Senior Interest 2.9x 3.2x 3.5x 3.9x 4.6x 5.6x EBITDA / Total Interest 1.7x 1.9x 2.1x 2.3x 2.5x 2.8x (EBITDA – Capex) / Total Interest 1.7x 1.3x 1.5x 1.7x 1.9x 2.1x Senior Debt / Adj. EBITDA 4.6x 4.1x 3.6x 3.1x 2.5x 2.1x Total Debt / Adj. EBITDA 6.5x 5.9x 5.4x 4.8x 4.2x 3.7x Free Cash Flow / Total Debt (6.1)% 1.2 % 4.7 % 6.0 % 7.7 % 9.7 % Total Debt / Total Capitalization 60.8 59.8 58.1 55.8 53.0 49.5

1 Based on management projections. Management projections have not yet been reviewed by Colorprint’s board.

Strategic Alternatives 25

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Potential Counterparties ($ in millions) Credit Company            Financial Information            Rating            Management            Comments / Recent Developments Highly publicized statements regarding interest in developing Internet channel Market cap: $66,703 through acquisition ($2+ billion) Cash: $5,783 Moody’s: Departure of Lachlan Murdoch likely to Debt: $11,427 Baa2 CEO: Rupert Murdoch impact status of further discussions with S&P: BBB CFO: David F. DeVoe Colorprint 2007 P/E: 19.0x Fitch: BBB $6 billion of cash on balance sheet and EV / EBITDA: 15.6x aggressive in acquisition settings for the right asset Market cap: $2,096 Not historically an aggressive acquirer Cash: $35 Cash offer at a premium would stretch balance sheet Debt: $167 CEO: Richard Hochhauser N / A 3Q earnings fell 3.8% versus prior year CFO: Dean Blythe period, coming in below analyst estimates 2007 P/E: 16.9x EV / EBITDA: 10.1x Announced $1.3bn all-cash acquisition of ADVO in Jul 2006 Market cap: $723 On Aug 30, the company filed action to Cash: $87 rescind merger agreement due to Debt: $260 Moody’s: Ba1 CEO: Alan F. Schultz misrepresentation and material adverse S&P: BB CFO: Robert L. Recchia changes in ADVO’s business 2007 P/E: 10.1x Dispute between Valassis and ADVO EV / EBITDA: 6.5x ongoing Downgraded from Baa3 by Moody’s 30-Oct-06 Company recently acquired by Valcon Market cap NA Acquisition (private equity consortium including Blackstone, Carlyle, KKR, TH Cash: $5901 Lee, H&F and Alpinvest) for equity value of Debt: ~$7,9001 Moody’s: B2 CEO: David L. Calhoun $9.6bn S&P: B CFO: Rob A. Ruijter Has remained strategically active, recently 2007 P/E: NA proposing to acquire remaining public EV / EBITDA: NA stake in subsidiary NetRatings and selling stake in Solucient to Thomson 1Based on 29-Sep-2006 earnings press release. Figures reported in euros; assumes exchange rate of 1.2x. Strategic Alternatives 27

Ability to Pay Analysis – 2007 EPS Breakeven Key Assumptions Deal closes on December 31, 2006 Median IBES 2007E EPS estimates used for all potential buyers Management 2007E EPS estimate used for Colorprints IBES EPS estimates calendarized to December 31 year-end for all companies Pre-tax synergies of 15% of Colorprint LTM September 2006 selling, general and administrative expenses ($151mm) 50% phased in 2007 20% of excess purchase price allocated to identifiable intangibles, and remaining to goodwill Identifiable intangibles amortized on a straight line basis over 8 years (tax deductible) Pre-tax cost of debt as follows: 50% Cash 100% Cash News Corp 5.00% 5.00% Valassis 7.00% 8.00% Harte Hanks 6.25% 7.00% Tax rate of 35% Strategic Alternatives 28

Breakeven Ability to Pay Analysis 100% Stock Transaction $28.00 Current Price = $24.93 $25.00 $25.00 $22.80 $22.00 Price per Share $19.00 $16.00 $14.89 $13.00 $10.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.3x 0.5x 1.3x POS PF Ownership 1.7% 33.8% 49.1% 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 29

Breakeven Ability to Pay Analysis 50% Stock / 50% Cash Transaction $30.00 $28.81 Current Price = $24.93 $27.50 $25.95 $25.00 Price per Share $22.50 $20.00 $19.40 $17.50 $15.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.5x 2.1x 2.9x POS PF Ownership 1.0% 22.5% 39% 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 30

Breakeven to Pay Analysis 100% Cash Transaction $40.00 $35.00 $33.95 Current Price = $24.93 $30.00 $27.55 $25.15 Price per Share $25.00 $20.00 $15.00 $10.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.7x 4.0x 5.5x 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 31

Appendix A: Financial Sponsors Profiles

Hellman and Friedman Current Fund Size: $3.5 billion Overview            General Partners Hellman & Friedman LLC, founded in 1984, is a private equity investment firm well respected for its Matthew Barger            John (Jack) Bunce, Jr. distinctive investment philosophy and approach. H&F’s offices are located in San Francisco, London, and New York. H&F raised our first institutional private equity fund in 1987. During its 18-year investing history, H&F has raised and managed over $8 billion of committed capital and have invested in over 50 Mitchell Cohen            Jeffrey Goldstein companies. H&F is currently investing its fifth fund, Hellman & Friedman Capital Partners V, L.P. (HFCP V), with $3.5 billion of committed capital, which was activated in August 2004. Philip Hammarskjold            Patrick Healy H&F’s objective is to invest long-term equity capital to support the strategic and financial objectives of outstanding management teams operating businesses with defensible positions in growing markets. Warren Hellman            Georgia Lee Over its lifetime, H&F has distinguished ourselves as a flexible source of capital and a value-added partner. Brian Powers            Thomas Steyer H&F’s team consists of 30 investment professionals, including 13 managing directors with an average tenure with the Firm of 12 years. This allows H&F to spend substantial time working with the companies Allen Thorpe            David Tunnell in which it invests. Limited partner investors in H&F’s funds include many of the largest U.S. and international corporate            Frank Zarb            pension funds, U.S. state pension funds, university endowments and foundations. And, in HFCP V, H&F (the partners of the firm) collectively are one of the largest limited partners. Selected Investments Company            Description Blackbaud            Blackbaud is the leading provider of software and related services to the not-for-profit vertical market. In October 1999, HFCP III purchased a controlling interest in Blackbaud and is working with management to transition the company to its next phase of growth. Blackbaud, which currently sells mission-critical fundraising, accounting and school administration software and services, has realized dynamic growth over the last five years and now has an installed base of over 12,000 customers worldwide. Blackbaud executed an initial public offering in July 2004 on the NASDAQ DoubleClick DoubleClick is the leading provider of technology and data solutions for advertising agencies, web publishers, marketers, and catalogers to plan, execute and analyze their marketing programs. DoubleClick’s marketing solutions — - online advertising, search engine and affiliate marketing, email marketing, database marketing, and data management — - help clients yield the highest return on their marketing dollar. DoubleClick Inc. has global headquarters in New York City and maintains 21 offices around the world. In July 2005, Click Holding Corp., a subsidiary of Hellman & Friedman LLC and JMI Equity, acquired DoubleClick in a transaction valued at approximately $1.1 billion Mitchell International Mitchell International, established in 1946, is a l eading provider of information software, print publications and total business solutions to the insurance and automotive collision repair industries. In April 2000, HFCP IV acquired Mitchell from the Thomson Corporation. The Company’s products and services range from the assessment and estimation of vehicle damage to comprehensive data mining tools and complete collision shop management systems. The Nasdaq Stock Market The Nasdaq Stock Market is one of the world’s leading stock markets, operating an electronic, screen-based equity market that lists more companies and has more trading activity than any other stock market in the world. In May 2001, HFCP IV invested $240 million to purchase convertible subordinated debentures representing an approximate 15% ownership interest in Nasdaq. With this investment, H&F was the first outside shareholder of Nasdaq interested solely in maximizing the value of the equity and helped Nasdaq transition from a membership-owned organization to a public corporation. In April 2005, HFCP IV entered into a follow-on investment in Nasdaq to support its acquisition of INET Vertafore, Inc            Vertafore, Inc. is a leading provider of specialized software, services and information for the property and casualty insurance industry. In 2004, HFCP V acquired controlling interest of Vertafore in a proprietary, non-intermediated transaction. During its thirty year history, Vertafore has become the management system and information source to over 15,000 independent agencies, 120,000 end-users, and 300 insurance carriers through four principal operating entities: AMS Services, SilverPlume, AMS Rackley, and Allenbrook. Financial Sponsors Profiles 33

Carlyle Group Fund Size: $7.85 billion Overview            Key Principals Manages over $18.3 billion in capital across 23 funds            Chairman: Senior Director: Focus: defense, aerospace, healthcare, telecommunications, media, industrial and            Louis V. Gerstner, Jr. Julian Browne            Richard G. Darman government-related investments Robert Coxon            Louis J. Guiliano Pursues situations where there is a high degree of regulatory, business, legal, and industry            Founding Partners: Wilfred A. Finnegan            Arthur Levitt complexity Daniel A. D’Aniello            Kent Kresa            Thomas F. McLarty Targets equity investments between $100 — $400 million            William E. Conway            Duncan Lewis David L. Squier Joint venture with Riverstone to make E&P investments ($1.1 bn fund) David M. Rubenstein            Charles O. Rossotti Based in Washington D.C. Thomas A. Corcoran Other offices located in Barcelona, Charlotte, Dallas, Frankfurt, Hong Kong, London, Milan, Senior Counselor: Moscow, Munich, New York, Paris, Riyadh, San Francisco, Seoul, Singapore, and Tokyo            James Baker, III Selected Investments Company            Stake Description American Bottling Company            Divested            Independent bottler of carbonated soft drinks and new age beverages in the US Connecticare            Controlling Partner Independent, regional HMO based in Connecticut Countour Aerospace Controlling Partner Manufactures aerostructure components for commercial and military markets CPU Technology            Controlling Partner Provider of embedded electronic systems using system-on-a-chip SoC technology Dr Pepper/Seven Up Bottling Group Controlling Partner Bottles Dr Pepper and 7 Up for Cadbury Schweppes and RC Cola and Snapple and Triarc Companies Elgar Electronics Corp            Controlling Partner Manufactures power testing and power supply equipment for military and commercial markets Epsilon Data Management Inc. Controlling Partner Provides computer-based marketing services to assist clients in the design and implementation of direct response marketing programs Fairchild Imaging            Controlling Partner Manufactures charged coupled devices (CCD) and electronic imaging systems Forged Metals Inc. Controlling Partner Produces seamless rolled rings and open die forgings for jet engines, land-based turbines, and aerospace applications Fresh Fields Markets            Divested            Operates natural foods grocery chain Gemini Air Cargo Inc. Controlling Partner Global air cargo company that specializes in providing Aircraft, Crew, Maintenance an d Insurance contract cargo services for other airlines Glenmoor Limited            Controlling Partner Owns and operates pipelines Grand Vehicle Works Holdings Inc. Controlling Partner Manufactures vehicle bodies and chassis IInteliStaf Healthcare            Controlling Partner Provider of medical staffing services Kuhlman Electric Corp            Controlling Partner Designs, manufactures and markets a broad range of transformers or electric utility distribution systems Lear Siegler Services Inc. Controlling Partner Provides maintenance, logistics, systems integration and pilot training to the military and to the government agencies Loews Cineplex Entertainment Corp Controlling Partner Operates motion picture theaters primarily in major cities throughout in US, Europe and Eurasia Magellan Midstream            Controlling Partner Storage, transportation, and distribution of refined petroleum products and ammonia Mariner Energy Inc. Controlling Partner Oil and gas exploration and production MedPointe            Controlling Partner Manufactures toiletries, pharmaceuticals and various specialty drugs. JV with Cypress Group Piedmont Hawthorne            Controlling Partner Operator of airport general aviation businesses, commonly called fixed base operations or FBOs Prime Communications            Controlling Partner Operates cable television systems Relizon            Controlling Partner Provider of outsourced business communication services Rexnord            Controlling Partner Manufactures conveying components Standard Aero Limited            Controlling Partner The independent gas turbine engine and accessory repair and overhaul company Stellex Aerostructures            Controlling Partner Provider of subsystems and components for the aerospace, defense and space industries United Components Inc. Controlling Partner Manufactures engineering components and vehicle replacement parts Varsity Group            Minority Interest            College marketing company that offers strategic marketing services and online and offline channels Verizon Hawaii Inc. Controlling Partner Provide range of telecommunications services in Hawaii, throughout the Pacific and Asia Xcelerate. Controlling Partner Internet professional services firm that provides end to end e-commerce business development for their customers Financial Sponsors Profiles 34

Financial Sponsors Profiles 35

Welsh, Carson, Anderson & Stowe Fund Size: $3.5 billion Overview            Selected Partners Founded in 1979, WCAS is a New York based firm that concentrates its            Jonathan M. Rather (Chief Financial Officer) investments exclusively in healthcare, information and business services, and            John Almeida, Jr. (Information & business services and communications) communications industries            Bruce K. Anderson (Information & business services) Invested in over 135 companies in their core industries and have funded over            Russell L. Carson (Healthcare) 650 follow-on acquisitions            John D. Clark (Information & business services and communications) Raised $12 billion in 9 equity funds and three subordinate debt funds            Anthony J. de Nicola (Information & business services and communications) Currently investing $3.5 billion WCAS X equity fund            D. Scott Mackesy (Healthcare) Also investing WCAS Capital Partners IV, L.P., a $1.3 billion dedicated            James R. Matthews (Information & business services and communications) subordinated debt fund            Thomas E. McInerney (Information & business services and communications) Across all partnerships, current portfolio consists of 30 companies with            Robert A. Minicucci (Information & business services) combined revenues of $18 billion and EBITDA of $4 billion            Paul B. Queally (Healthcare) Has completed a number of investments in divisions or subsidiaries of larger            Sanjay Swani (Information & business services and communications) companies, and acquisitions/recapitalizations of public companies. WCAS has Sean M. Traynor (Information & business services and healthcare) created, in several situations, an entirely new administrative, operational and            Patrick J. Welsh (Information & business services) management structure Selected Investments Company            Stake            Description Alliance Data Systems            Controlling Partner Provides customer relationship marketing, data information and transaction services AmeriPath Inc. Controlling Partner Provides anatomic pathology laboratory services Ardent Healthcare Services            Controlling Partner Owner and operator of acute care psychiatric hospitals BancTec Inc. Controlling Partner Provides electronic imaging and document management solutions Centennial Communications Controlling Partner Operates wireless rural telephone systems in US and integrated communication services in the Caribbean Concentra Managed Care Inc. Controlling Partner Provides workers compensation health care services and cost containment services Global Knowledge Network, Inc. Controlling Partner Provides information technology education and training Headstrong, Inc. Controlling Partner Designs and impl ements systems integration products ITC DeltaCom Inc. Controlling Partner            Competitive local exchange carrier in southeastern US MedCath Corp. Controlling Partner Provider of cardiology and cardiovascular services SAVVIS Communications Corp. Controlling Partner Provider of data networking, managed hosting and Internet access services SHPS Inc. Controlling Partner Provider of outsourced employee benefits and care management services United States Investigation Services            Controlling Partner Government and commercial employee background investigative services US Oncology            Controlling Partner Healthcare network dedicated exclusively to cancer treatment and research Valor Telecommunications            Controlling Partner Rural provider of communication services in southeastern U.S. Financial Sponsors Profiles 36

Appendix B: Additional Information Additional Information 37

Research Analysts’ Recommendations and Estimates Analyst Recommendations            Evolution of Estimates1 Strong $2.00 Buy Estimate $1.50 $1.44 13% 2008E Underperform Buy 25% $1.00 $1.25 $1.46 $1.29 13% 2005A 2006A 2007E $1.19 EPS $0.50 2004A Hold $0.00 50% Nov-2003 Jun-2004 Jan-2005 Aug-2005 Mar-2006 Oct-2006 Monthly from 6-Nov-2003 to 06-Nov-2006 Recommendations: 8 2004 2005 2006 2007 2008 Price Targets Individual Analyst Estimates $30.00 Broker Estimate $29.00 Date Rating Growth Estimates CY Ended Dec $28.00 ‘05-’06E ‘06-’07E 5-Yr. ‘06E ‘07E Goldman Sachs 26-Oct-2006 Underperform 6.1% (4.9)% $1.39 $1.32 Current = $24.93 $26.00 Bear, Stearns 01-Nov-2006 Hold 7.6 (4.3) 8.7% 1.41 1.35 $24.62 $25.00 Deutsche Bank 31-Oct-2006 Hold 6.9 10.4 - 1.40 1.55 $24.00 First Analysis Securities 01-Nov-2006 Hold 6.1 2.7 10.0 1.39 $23.00 1.43 $22.00JMP Securities 27-Oct-2006 Underperform 9.2 (1.7) 10.0 1.43 1.41 J.P. Morgan 02-Nov-2006 Buy 9.2 11.4 — 1.43 1.59 $20.00 Robert W. Baird 01-Nov-2006 Hold 5.3 (2.4) - 1.38 1.35 Goldman Robert Deutsche JMP William Blair 26-Oct-2006 Strong Buy 7.6 — 7.0 1.41 - Sachs Baird            Bank Securities            Median 7.3% (0.3)% 9.3% $1.41 $1.40 1Evolution of EPS estimates based on fiscal year-end Mar-31 estimates. Additional Information 38

Management vs. Analysts Estimates ($ in millions, except per share data) CY 2006 Estimates1 EPS            Revenue            EBITDA ³ EBIT            Net Income Avg. Shares Management $ 1.46 $ 454.1 $ 152.8 $ 110.1 $ 68.1 46.8 Goldman, Sachs & Co. 1.39 452.5 NA NA 65.2 46.9 Bear, Stearns & Co. 1.41 449.0 152.4 107.2 65.8 46.7 Deutsche Bank North America 1.40 451.9 153.0 107.9 65.4 46.7 First Analysis Securities Corp 1.39 451.2 150.3 106.3 65.1 46.8 JMP Securities 1.43 452.8 NA 109.4 66.6 46.6 JP Morgan 1.43 NA            NA NA            NA NA Robert W. Baird & Co., Inc. 1.38 456.4 155.7 110.3 64.5 46.7 William Blair & Company, L.L.C. 1.41 450.7 NA NA            NA NA Analyst Median $ 1.41 $ 451.9 $ 152.7 $ 107.9 $ 65.3 46.7 Analyst Range — High to Low 3.6 % 1.6 % 3.6 % 3.7 % 3.3 % 0.7 % CY 2007 Estimates2 EPS            Revenue            EBITDA ³ EBIT            Net Income Avg. Shares Management $ 1.50 $ 498.8 $ 168.7 $ 119.7 $ 69.3 46.1 Goldman, Sachs & Co. 1.32 465.4 147.9 103.0 62.8 47.5 Bear, Stearns & Co. 1.35 479.3 NA 103.3 61.4 45.4 Deutsche Bank North America 1.55 500.2 172.9 123.3 70.2 45.5 First Analysis Securities Corp 1.43 492.2 156.9 113.4 66.7 46.7 JMP Securities 1.41 490.7 NA 104.1 65.4 46.5 JP Morgan 1.59 NA NA            NA NA            NA Robert W. Baird & Co., Inc.1.35 504.0 172.1 124.1 61.9 45.9 William Blair & Company, L.L.C. NA NA            NA NA            NA NA Analyst Median $ 1.40 $ 490.3 $ 157.9 $ 109.1 $ 64.2 46.2 Analyst Range — High to Low 20.4 % 8.3 % 16.9 % 20.5 % 14.5 % 4.4 % Additional Information 39

Colorprint Commentary Analyst            Comments Goldman, Sachs & Co. “Our 12-month price target of ~$25 is derived through blended risk/reward and DCF analyses. In both Simeon Gutman instances, we have given the company credit for notably enhanced CMS top-line growth due to the color printer rollout.” Sell October 26, 2006 “On top of what is already expected to be a difficult fiscal 2007 due to color printer rollout costs and tough comparisons, on today’s conference call management revealed a couple of items that are potential areas for additional concern. First, Catalina’s international division (CMI) is losing two important clients beginning in the first calendar quarter of 2007. Second, of the flagship CMS division’s 8.5% quarterly top-line gain, more than half was driven by new Walgreen and Kmart installations. Third, because of the decay in manufacturer spending as nationally branded drugs go off patent, the ongoing generic boom could temper CHR’s growth in the intermediate-term.” JP Morgan “While F2Q07 came in moderately below expectations, we believe investors will focus on how the Frederick Searby transition to color printers is progressing. Commentary on calendar 2007 selling season likely will be the key issue. Verbiage in the press release suggests it was positive, but we will wait and see. We Buy reiterate our Overweight.” October 26, 2006 “With a clean balance sheet, strong FCF generation, and a sizable potential international opportunity, we like POS’ growth prospects. With eroding traditional media audiences set against ongoing price inflation, clients have to look to cheaper, higher ROI alternative media. Anecdotal evidence suggests that the shift to measured media/direct marketing will accelerate. POS could be the beneficiary of a reallocation of traditional marketing dollars...Trading at 8.4x EV/F2007E EBITDA, we view POS as an attractive investment opportunity....”

Colorprint Commentary Analyst            Comments William Blair & Company “At first look, Catalina reported disappointing second-quarter results. Growth remained strong in the Troy Mastin core business and International, but the Health Resource division was disappointing as a dearth of unusual projects throttled growth.” Strong Buy October 26, 2006 “As expected, cash flow remained weak as the company is building out its color printer initiative. Free cash flow of -$19.1 million reflected $50 million in capital expenditures in the quarter, which helped the company reach an installed base of half of its domestic store base in the quarter.” “The investment and cost ramp associated with growth appears to be higher than we had modeled; however, we are reserving full judgment until after the conference call this morning. Shares will likely fall under some pressure before the call as recent strength has pushed full valuation to 17.6 times 2008 EPS.” Additional Information 41

Peer Beta Calculation Average of Different Beta Sources 5-Year Levered Betas Barra            Bloomberg1 Average Colorprint 0.97 1.19 1.08 Harte Hanks 0.81 0.71 0.76 Acxiom 0.79 1.02 0.91 Valassis 1.56 0.91 1.23 Advo 1.15 0.81 0.98 InfoUSA 1.21 1.19 1.20 Median 1.06 0.97 1.03

Cost of Equity and WACC Analysis ($ in millions) Risk            Cost of            Pre-Tax Effective Risk-Free Premium Equity Beta Equity            Cost of Tax Rate Current Curr. Mkt. Val. Rate1 2 3 4 (t)5 Debt (D)6 of Equity (E)7 WACC (Rp) (Be) (Ke) Debt (Kd) Colorprint8 4.70 % 5.00 % 1.08 10.09 % 6.00 % 40.6 % $ 112 $ 1,169 9.52 % Harte Hanks 4.70 % 5.00 % 0.76 8.51 % 6.03 % 38.6 % $ 167 $ 2,096 8.15 % Acxiom 4.70 5.00 0.91 9.23 6.38 39.0 795 2,265 7.84 Valassis9 4.70 5.00 1.23 10.87 6.23 34.7 260 723 9.07 Advo 4.70 5.00 0.98 9.61 6.50 37.5 144 914 8.85 InfoUSA 4.70 5.00 1.20 10.69 6.20 36.0 137 650 9.52 Median 1.03 9.85 % 8.96 %

Appendix C: Hellman & Friedman Proposal

EX-99.(C)(4)

Exhibit (c)(4)

Presentation to Colorprint Preliminary Board Discussion Materials Goldman, Sachs & Co. 13-Dec-2006

Table of Contents I. Executive Summary II. Valuation Update III. LBO Analysis Appendix A: Financial Sponsors Profiles Appendix B: Additional Information Appendix C: Sponsor Proposals Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

I. Executive Summary

Executive Summary 3

csdtampa 29 Jun 2007 19:18 4/40 Comparison of Preliminary Indications of Interest Key Transaction Terms Carlyle            Hellman & Friedman            Texas Pacific Group WCAS Equity consideration per $30.00-$32.00 $33.00-$34.00 $32.00-$34.00 $28.00-$30.00 share Enterprise Value ($mm) $1,509 — $1,618 $1,673 — $1,727 $1,618 — $1,727 $1,400 - $1,509 Equity provided by Carlyle Residual balance sheet cash            Equity provided by TPG Partners Equity provided by WCAS X ($3.9 Partners IV ($7.9 bn) Equity provided by Hellman & V, L.P. ($15 bn) bn) and affiliates Debt financing up to 7.5x CY Friedman Capital Partners VI ($9 Additional equity provided by Subordinated debt from WCAS Expected Sources of 2006 EBITDA bn) management should they choose Capital Partners IV ($1.3 bn Financing Debt financing consistent with to co-invest mezzanine fund) Goldman indicative leverage Debt financing consistent with Additional third party debt levels Goldman indicative leverage levels (7.0x) Prepared to begin due Prepared to begin due diligence Prepared to begin due diligence Prepared to begin due diligence diligence immediately immediately immediately immediately Timing Issues Can commit resources to Can meet required timeline to Confident acquisition can be close transaction on an sign an agreement in Q1 2007 completed in a timely fashion expedited basis and close on an expedited basis Plan to retain senior            Expectation that senior            Intend to offer senior            Considers management team and management            management team will continue            management the opportunity to            employee base to be a key Open to and encourage to run the organization and be co-invest determinant of the value of the rollover and direct co- shareholders in post transaction Will implement a customary company Position Regarding investment company equity incentive program for Following the transaction propose Existing Management certain key employees structuring an incentive equity plan to retain managers Expect senior management to rollover a significant portion of their current ownership Due diligence focused on: Due diligence focused on: Key Assumptions (2007-2011): GS debt financing package of 1. Evaluation of each 1. The Company’s financial and — Assume 10% Revenue $1.134 bn segment’s growth drivers, historical projections CAGR — $648 mm senior credit facilities the color opportunity, and 2. Opportunities for growth — Steady state CapEx of 9%- — $486 mm of senior and sub Other Considerations / future product extensions 10% of revenue notes 3. Retailer and manufacturer Assumptions 2. Accounting, tax, and legal relationships — 36% EBITDA Margin Purchase price based on diligence management’s expected pro forma 4. Management team’s intentions — Goldman Sachs financing 3. Information Technology due regarding their involvement in guidance ($1.1bn in total EBITDA of $179.2 million for CY diligence the Company’s management debt; 7.0x) 2007 and ownership going forward NA: NA            Accountants: Deloitte & Touche NA Advisors Legal: Cleary Gottlieb Executive Summary 4

csdtampa 29 Jun 2007 19:18 5/40 Other Process Considerations ($ in millions) Withdrawn from Process: Apollo Blackstone Kohlberg Kravis Roberts Thomas H Lee Partners Inbound calls received: Fund Size Apax $1,500 Bain Capital 12,000 Cerberus Partners 22,000 Clayton, Dubilier & Rice 4,000 First Data 19,3361 General Atlantic 4,000 Golden Gate 1,800 Madison Dearborn 6,500 Platinum Equity 700 Providence Equity (Oral indication of $31-$34 per share) 4,250 Quadrangle Group 1,800 TA Associates 3,500 Veronis Suhler Stevenson 1,300 Warburg Pincus 8,000 WPP Group 16,5911 1Market capitalization. Executive Summary 5

csdtampa 29 Jun 2007 19:18 6/40 Illustrative Analysis at Various Prices ($ in millions, except per share data) Price Per Share $ 28.58 $ 30.00 $ 31.00 $ 32.00 $ 33.00 $ 34.00 Premium to Current Price (12-Dec-06)0.0 % 5.0 % 8.5 % 12.0 % 15.5 % 19.0 % Equity Value 1,352 1,430 1,484 1,539 1,593 1,648 Net Debt (at 30-Sep-06) 797979 79 7979 Enterprise Value 1,432 1,509 1,564 1,618 1,673 1,727 Premium to: Undisturbed Closing Price (07-Dec-06) $ 24.23 18.0 % 23.8 % 27.9 % 32.1 % 36.2 % 40.3 % 30 Day Average 24.91 14.8 20.5 24.5 28.5 32.5 36.5 60 Day Average 26.39 8.3 13.7 17.5 21.2 25.0 28.8 90 Day Average 26.97 6.0 11.2 15.0 18.7 22.4 26.1 180 Day Average 26.84 6.5 11.8 15.5 19.2 22.9 26.7 52 Week High Closing Price 29.77 (4.0) 0.8 4.1 7.5 10.8 14.2 5 Year High Closing Price (23-Jan-2002)39.01 (26.7) (23.1) (20.5) (18.0) (15.4) (12.8) EBITDA ¹ Management / IBES LTM — 9/30/06 $ 151.9 9.4 x 9.9 x 10.3 x 10.7 x 11.0 x 11.4 x CY2006E — IBES ² $ 154.4 9.3 x 9.8 x 10.1 x 10.5 x 10.8 x 11.2 x CY2006E — Management 153.8 9.3 9.8 10.2 10.5 10.9 11.2 CY2006E - Management Adjusted ³ 162.3 8.8 9.3 9.6 10.0 10.3 10.6 CY2007E — IBES4 $ 163.6 8.8 x 9.2 x 9.6 x 9.9 x 10.2 x 10.6 x CY2007E — Management 175.4 8.2 8.6 8.9 9.2 9.5 9.8 CY2007E - Management Adjusted ³ 179.2 8.0 8.4 8.7 9.0 9.3 9.6 EPS ¹ CY2006E — IBES ² $ 1.56 18.3 x 19.2 x 19.9 x 20.5 x 21.2 x 21.8 x CY2006E — Management 1.53 18.7 19.6 20.3 20.9 21.6 22.2 CY2007E — IBES4 $ 1.62 17.6 x 18.5 x 19.1 x 19.8 x 20.4 x 21.0 x CY2007E - Management 1.51 18.9 19.9 20.5 21.2 21.9 22.5 PEG (LT — IBES) CY 2006E P/E 8.5 % 2.1 x 2.3 x 2.3 x 2.4 x 2.5 x 2.6 x CY 2007E P/E 8.5 2.1 2.2 2.2 2.3 2.4 2.5 Executive Summary 6

csdtampa 29 Jun 2007 19:18 7/40 Analyst Sentiment Post Public Announcement “The stock jumped on [Friday’s] news and is now trading at 9.6x our F2008 EBITDA estimate versus our comp group average of 10.4x. If a deal were to occur we don’t expect it to be much higher than 10.5x F2008 EBITDA, suggesting a price in the low $30’s. While the promise of better growth exists if the color printer introduction is a success, given the early stage of this initiative, the lower margin expectations of this new product and the near-term earnings deterioration, we believe there is some risk to this investment which may put a cap on the purchase price.” — Alexia Quadrani, Bear Stearns, 12/8/06 “We believe many shareholders would likely view any buyout short of $35 to $40 as premature given Colorprint is only half way through its much-touted color printer installation. In addition, the company only recently completed the Walgreen rollout, giving current investors very little time to assess how much of a hit the drugstore channel may prove to the CMS segment. A sale by the company at this point could be viewed as a giveaway to private equity buyers.” — Todd Van Fleet, First Analysis Securities, 12/11/06 “We believe Colorprint’s healthy cash flow generation coupled with its ongoing transformative growth initiatives make the company a logical target for private equity firms.” “Rumored takeout discussions are in the $30/share range, which would value the business at around 9x CY07 EBITDA and 20x CY07 EPS. We believe it’s plausible the multiple could creep slightly higher in a competitive auction.” “We do not expect a deal to be reached at a significant premium above Friday’s closing price.” — Mark A. Bacurin, Robert W. Baird, & Co., 12/11/06 “While the shares have rallied...since the news broke [Friday] afternoon, we still see potential for further material upside. Assuming a conservative 11x multiple on consensus F2008 EBITDA, we estimate that Colorprint could fetch $38 per share. Utilizing our current F2008 EBITDA estimate of $189.8 MM, we estimate Colorprint could be worth north of $40 per share. Notably, mature businesses in our space with lower growth prospects than Colorprint have been acquired at higher than 11x. We remain convinced that Colorprint’s color roll-out will yield high returns and snare material incremental dollars.” — Frederick Searby, JPMorgan, 12/8/06 Executive Summary 7

csdtampa 29 Jun 2007 19:18 8/40 Colorprint Illustrative Timetable December 2006 January 2006 February 2006 March 2006 S M T W T F S            S M T W T F S            S M T W T F S            S M T W T F S 1 2 1 2 3 4 5 6 1 2 3 1 2 3 3 4 5 6 7 8 9 7 8 9 10 11 12 13 4 5 6 7 8 9 10 4 5 6 7 8 9 10 10 11 12 13 14 15 16 14 15 16 17 18 19 20 11 12 13 14 15 16 17 11 12 13 14 15 16 17 17 18 19 20 21 22 23 21 22 23 24 25 26 27 18 19 20 21 22 23 24 18 19 20 21 22 23 24 24 25 26 27 28 29 30 28 29 30 31 25 26 27 28 25 26 27 28 29 30 31 31 Important Dates            Holidays Date: Event: December 12th            Preliminary indications of interest due from Sponsors December 13th Review bids with Board / Special Committee December 15th            Notify Sponsors selected to continue in process Dec 14th – 26th Prepare due diligence items, refine management five year projections, develop management presentations and populate on-line data room Dec 27th Deliver 5 year financial projection model to Sponsors; open on-line data room Dec 28th – 29th Calls with Sponsors to review financial model Jan 1st, Jan 8th Sponsor due diligence with Colorprint (2 days each with broader Company management participation) Jan 8th, Jan 15th Process follow-up request items from Sponsors Deliver draft Purchase Agreement to Sponsors Jan 24th            Final bids due from Sponsors with mark-up of Purchase Agreement Jan 26th            Review final bids with Board / Special Committee Week of Jan 29th            Select final bidder, negotiate Purchase Agreement Week of Feb 5th Colorprint announces quarterly financial results Announce transaction Mid March            Shareholder vote Late March / Early April            Launch Financing Transaction Closing Executive Summary 8

II. Valuation Update

csdtampa 29 Jun 2007 19:18 10/40 Market Performance Price Appreciation by Sector 2000 2001 2002 2003 2004 2005 2006YTD1 Colorprint 0.9% (10.9)% (46.7)% 9.0% 47.0% (14.4)% 12.7% Sectors            Marketing Services2 8.9% 12.9% (17.4)% 21.1% 19.4% (12.5)% 3.2% Information Services3 18.7 42.2 (0.3) 30.9 17.6 20.4 8.7 Advertising4 (17.1) (17.3) (37.6) 23.5 (3.4) 1.0 14.8 Publishing5 (13.1) (9.0) (14.4) 24.6 21.2 5.4 27.9 Industry Standards            S&P 500 (10.1)% (13.0)% (23.4)% 26.4% 9.0% 3.0% 12.9% NASDAQ Composite Index (39.3) (21.1) (31.5) 50.0 8.6 1.4 10.5 1As of 12-Dec-2006. (4.4)% for YTD 2006 for Colorprint based on undisturbed closing price on 7-Dec-2006. 2Marketing Services: Acxiom, Harte Hanks, InfoUSA, Valassis, and Advo. 3Information Services: Moody’s, Dun & Bradstreet, Equifax, Alliance Data Systems, Fair Isaac, First Advantage and ChoicePoint. 4Advertising: Omnicom Group, Interpublic, Publicis, Havas, and WPP Group. 5Publishing: News Corp, Thomson Corporation, McGraw-Hill, and Wolters Kluwer. Valuation Update 10

csdtampa 29 Jun 2007 19:18 11/40 Colorprint Shares Traded at Various Prices Last 3 Months            Last 6 Months 7,000 Weighted Average Price: 26.85 USD 18,000 Weighted Average Price: 27.52 USD Total Shares Traded as Percent of Shares 16,000 Total Shares Traded as Percent of Shares 6,000 Outstanding: 42.84% 14,000 Outstanding: 90.12% 5,000 (000) (000) 12,000 Volume Volume 4,000 10,000 3,000 8,000 6,000 2,000 4,000 1,000 2,000 0 0 24.23 25.04 25.86 26.67 27.48 28.30 24.23 25.11 25.98 26.86 27.74 28.61 to to to to 25.03 Daily from 12-Sep-2006 to 12-Dec-2006 29.11 25.10 Daily from 12-Jun-2006 to 12-Dec-2006 29.49 Last 12 Months            Last 24 Months 30,000 Weighted Average Price: 26.09 USD 60,000 Weighted Average Price: 25.74 USD Total Shares Traded as Percent of Shares Total Shares Traded as Percent of Shares 25,000 Outstanding: 213.77% 50,000 Outstanding: 461.65% (000) 20,000 (000) 40,000 Volume            Volume 15,000 30,000 10,000 20,000 5,000 10,000 0 0 21.71 23.05 24.4 25.74 27.08 28.43 21.71 23.13 24.56 25.98 27.4 28.83 to to to to 23.04 Daily from 12-Dec-2005 to 12-Dec-2006 29.77 23.12 Daily from 10-Dec-2004 to 12-Dec-2006 30.25 Valuation Update 11

csdtampa 29 Jun 2007 19:18 12/40 Historical Trading Performance Three Years Index Price Performance            P/E Performance Colorprint Peers 180% 24x            High 22.9 x 20.7 x Low 15.8 15.6 Avg 18.9 18.3 21.5x 160% 22x 49.1% (NTM) 140% Months 20x Price 31.4% P/E (x) Indexed Forward Twelve 24.8% 120% 18x 17.8x Next 100% 16x 80% 14x Dec- May- Oct- Mar- Aug- Jan- Jun- Dec- Dec- May- Oct- Mar- Aug- Jan- Jun- Dec-2003 2004 2004 2005 2005 2006 2006 2006 2003 2004 2004 2005 2005 2006 2006 2006 Daily from 12-Dec-2003 to 12-Dec-2006 Daily from 12-Dec-2003 to 12-Dec-2006 Colorprint ¹ S&P 500 Marketing Services Composite ² Valuation Update 12

csdtampa 29 Jun 2007 19:18 13/40 Colorprint Enterprise Value / EBITDA Trading History Three Years

Comparison of Selected Companies ($ in millions, except per share data) \ Closing      % of Equity            Calendarized 5-Year 2007 PE LTM Price 52 Week Market Enterprise Enterprise Value / EBITDA P/E Multiples ² Est. EPS to 5-Year EBITDA Company 12-Dec-06 High            Cap ¹ Value ¹ LTM ¹ 2006E 2007E 2006 2007 CAGR ² CAGR ² Margin ¹ Colorprint $ 28.58 96 % $ 1,352 $ 1,432 9.4 x 9.3 x 8.8 x 20.4 x 20.2 x 8.5 % 2.4 x 34.5 % Colorprint — Management 9.3 8.2 18.7 18.9 Colorprint — Management Adjusted ³ 8.8 8.0 Marketing Services Acxiom $ 25.42 96 % $ 2,026$ 2,729 6.7 x 6.8 x 6.4 x 26.1 x 21.3 x 15.0 % 1.4 x 29.7 % Harte Hanks 26.55 89 2,097 2,228 10.1 10.2 9.5 19.2 17.4 11.2 1.6 18.8 Advo 29.08 79 926 1,012 11.9 9.7 8.4 30.4 20.7 10.0 2.1 5.9 Valassis Communications 16.44 54 786 959 7.0 6.9 7.0 10.4 11.0 7.0 1.6 12.9 InfoUSA 12.16 93 680 809 8.8 9.1 7.5 19.0 13.7 NA NA 22.6 Median 89 % 8.8 x 9.1 x 7.5 x 19.2 x 17.4 x 10.6 % 1.6 x 15.9 % Mean 82 8.9 8.5 7.8 21.0 16.8 10.8 1.7 16.8 Information Services Moody’s $ 69.58 96 % $ 20,312 $ 20,318 18.9 x 18.2 x 16.6 x 31.8 x 27.8 x 15.0 % 1.9 x 56.0 % Alliance Data63.22 96 5,212 5,835 13.1 11.5 10.3 20.5 17.9 18.0 1.0 23.6 Dun & Bradstreet 83.15 100 5,312 5,574 12.0 12.3 11.3 21.0 18.3 13.8 1.3 30.8 Equifax 41.31 100 5,272 5,760 11.2 10.8 10.0 20.6 18.8 10.5 1.8 34.0 ChoicePoint 37.93 82 3,102 3,455 10.1 10.2 9.8 22.7 20.0 15.0 1.3 32.2 Fair Isaac 41.41 87 2,735 2,908 13.1 10.8 10.1 18.3 15.9 12.5 1.3 26.8 First Advantage 22.14 72 1,289 1,521 9.9 9.4 8.4 21.1 18.3 20.0 0.9 21.1 Median 96 % 12.0 x 10.8 x 10.1 x 21.0 x 18.3 x 15.0 % 1.3 x 30.8 % Mean 90 12.6 11.9 10.9 22.3 19.6 15.0 1.4 32.1 Advertising Omnicom Group $ 104.86 100 % $ 18,404 $ 20,804 12.1 x 12.5 x 11.4 x 21.0 x 18.7 x 12.0 % 1.6 x 15.4 % WPP Group 13.49 97 16,959 19,515 10.7 10.4 9.6 17.0 15.3 9.9 1.5 16.1 Publicis Groupe 39.21 88 8,663 8,602 7.2 8.0 7.5 16.2 14.9 3.0 5.0 20.8 Interpublic Group 11.75 95 5,184 6,899 19.7 16.7 10.2 NM 43.5 10.0 4.4 NM Havas 5.65 100 2,427 3,289 13.6 14.1 11.9 31.4 22.5 6.5 3.5 12.4 Median 97 % 12.1 x 12.5 x 10.2 x 19.0 x 18.7 x 9.9 % 3.5 x 15.7 % Mean 96 12.7 12.3 10.1 21.4 23.0 8.3 3.2 16.2 Publishing News Corp $ 21.18 98 % $ 67,733 $ 73,453 15.9 x 14.4 x 12.9 x 22.7 x 19.2 x 17.0 % 1.1 x 18.3 % Thomson Corporation 42.22 9827,069 30,983 14.0 12.3 11.4 25.1 22.8 13.5 1.7 24.3 McGraw-Hill 68.00 100 25,477 25,402 14.1 15.3 13.3 27.3 23.9 12.0 2.0 29.0 Wolters Kluwer28.03 95 8,704 9,874 12.9 10.4 9.0 17.2 14.2 9.0 1.6 16.0 Median98 % 14.1 x 13.4 x 12.1 x 23.9 x 21.0 x 12.8 % 1.6 x 24.3 % Mean 98 14.2 13.1 11.6 23.1 20.0 12.9 1.6 23.9 Valuation Update 14

csdtampa 29 Jun 2007 19:18 15/40 Illustrative Discounted Cash Flow Analysis Valuation Date December 13, 2006 ($ in millions, except per share data) As of 31-December 2006 2007 2008 2009 2010 2011 Sales $ 460.3 $ 506.9 $ 547.5 $ 591.2 $ 638.5 $ 689.6 Growth 11.1 % 10.1 % 8.0 % 8.0 % 8.0 % 8.0 % EBIT $ 115.3 $ 126.0 $ 139.3 $ 154.9 $ 171.7 $ 189.8 EBIT Margin 25.0 % 24.9 % 25.5 % 26.2 % 26.9 % 27.5 % Taxes1 43.8 47.9 53.0 58.9 65.2 72.1 D&A $ 38.5 $ 53.2 $ 55.0 $ 55.0 $ 55.0 $ 55.0 Change in Working Capital (7.4) 2.32.0 2.2 2.3 2.5 Capex 110.0 65.0 55.0 55.0 55.0 55.0 Unlevered Free Cash Flow $(7.4) $ 68.6 $ 88.4 $ 98.2 $ 108.8 $ 120.2 Adjustment to year 12 8.1 Unlevered Free Cash Flow 0.7 68.6 88.4 98.2 108.8 120.2 PV of Cash Flow 0.7 65.2 76.3 77.1 77.6 78.0 Discounted Cash Flow            Assumptions Value of FCF $ 374.9 Projections5 Management Terminal Value 1,287.0 Colorprint WACC 10.0 % PV of FCF’s 1,661.8 Change in Working Capital5 Management Tax Rate1 38.0 % Net Debt3 $ 79.3 Terminal LTM EBITDA Multiple 8.5 x Equity Value 1,582.5 Diluted Shares Outstanding4 48.2Valuation as of 13-Dec-06 Implied Share Price $ 32.80

Valuation Update 15

csdtampa 29 Jun 2007 19:18 16/40 Illustrative DCF Sensitivities Implied Share Price Terminal LTM EBITDA Multiple $ 0.0 8.0 x 8.5 x 9.0 x 9.5 x 10.0 x Discount 9.0 % $32.63 $34.08 $35.54 $36.99 $38.45 Rate 10.0 % 31.41 32.80 34.19 35.58 36.97 11.0 % 30.26 31.59 32.92 34.24 35.57 Implied Share Price            Implied Share Price Revenue Growth1 EBITDA Margin2 $ 0.0 6.0 % 7.0 % 8.0 %9.0 % 10.0 % $ 0.0 33.5 % 34.5 % 35.5 % 36.5 % 37.5 % Discount 9.0 % $31.53 $32.78 $34.08 $35.44 $36.86 9.0 % $32.04 $33.06 $34.08 $35.10 $36.12 Rate 10.0 % 30.36 31.56 32.80 34.11 35.46 10.0 % 30.84 31.82 32.80 33.78 34.77 11.0 % 29.25 30.39 31.59 32.84 34.14 11.0 % 29.70 30.64 31.59 32.54 33.48 Valuation Update 16

Selected Precedent Transactions Since 2003 ($ in millions) LTM Multiples Date Announced            Target            Acquiror            Levered Value Sales            EBITDA            EBIT Consideration Sep-06 CPC            ADS $ 70 NA            NA 14.0 x            Cash Jul-06 ADVO            Valassis 1,316 0.9 9.1x / 12.6x ¹ 21.6 Cash Aug-06 PRIMIS            Parthenon Capital 115 NA 8.0 NA            Cash Feb-06 Doubleclick Email ADS 90 2.3 10.0 NA Cash Jan-06Clarity Blue Experian 188 ² 3.3 NA 20.0 Cash Jan-06VNU NV Valcon Acquisition 11,566 2.211.3 19.0 Cash Sep-05 Bigfoot Interactive            ADS 1204.0 14.0 NA Cash Aug-05 Communications Group            WPP Group plc 68 NA            NA            NA Cash Jul-05 Cendant Marketing Services Division            Apollo 1,825 1.4 8.2 10.5 Cash Mar-05 Digital Impact Inc. Acxiom 115 NA            NA NA            Cash Mar-05 Tampa Flyer            Harte Hanks 60 NA            NA NA            Cash Apr-05 DoubleClick            Hellman & Friedman 805 2.0 13.4 37.1 Cash Oct-04 Epsilon Data Management ADS 300 2.5 12.5 NA            Cash Sep-04 Grey Global Group WPP Group plc 1,520 0.917.2 NA            Cash/Stock Jul-04 Seisint, Inc. Reed Elsevier 7756.7 17.2 NA Cash Jun-04 Information Holdings            Thomson Corp. 4415.4 NA            NA Cash May-04 TradeWeb            Thomson Corp. 535NA            NA            NA Cash Apr-04 OneSource Information Services            infoUSA Inc 85 1.5 NA 18.6 Cash Apr-04 Direct Group            Investor Group 50 NA            NA            NA Cash Aug-03 INFO1 LandAmerica Finl Group Inc 47 NA            NA            NA Cash Aug-03 Peter Black Direct Marketing            Merck 25 NA            NA             NA Cash Jun-03 Factual Data Corp            Kroll Inc 1131.6 NA 7.3 Cash/Stock Jun-03 Cordiant Communications            WPP Group plc 331 0.7 6.5 NA            Cash May-03 Tele-V            National Mgmt Consulting 42 NA NA            NA            Common Stock May-03 Mosaic Sales Solutions JLL Partners 76 NA            NA            NA Cash May-03NFO WorldGroup Taylor Nelson Sofres 435 0.98.3 11.6 Cash Apr-03 Insurance Mgmt Solutions Group            Fiserv Inc 41 1.4 NM            NM Cash Mar-03 Scorex            Experian 1112.4 NA            NA Cash Feb-03 Zenith Optimedia            Publicis Groupe SA 119NA            NA            NA Undisclosed Jan-03 Nordic Info Group A/S            Experian 142 3.0 8.2 15.2 Cash Median 2.1 x 11.3 x 16.9 x Valuation Update 17

Comparison of Selected Premiums 100% Cash Consideration, Last 3 Years1 ($ in millions) Premium Announced            Target            Acquiror            Equity Value 1 Day 1 Week 4 Weeks 11/30/06 Digital Insight Corp            Intuit Inc $ 1,354 18.2 % 16.7 % 30.2 % 11/16/06 Conor Medsystems Inc            Johnson & Johnson Inc 1,459 23.8 29.3 36.7 11/06/06 Per-Se Technologies            McKesson Corp 1,095 14.5 16.5 19.3 10/31/06 Banta Corp            RR Donnelley & Sons Co 1,306 16.6 14.8 11.9 10/30/06 Sirna Therapeutics Inc            Merck & Co Inc 1,132 95.8 83.0 128.8 10/30/06 Trustreet Properties Inc            GE Capital Solutions Franchise 1,151 36.3 36.4 38.2 10/30/06 Trammell Crow Co            CB Richard Ellis Group Inc 1,971 28.1 31.6 38.8 10/26/06 Kanbay International Inc            Capgemini SA 1,162 15.9 24.8 36.8 10/25/06 Universal American Financial            Investor Group 1,107 12.2 14.4 9.5 10/11/06 Jacuzzi Brands Inc            Apollo Management LP 1,240 20.8 20.2 20.8 10/25/06 Yankee Candle Co Inc            Madison Dearborn Partners LLC 1,724 21.0 19.0 21.3 08/23/06 Internet Sec Sys Group Inc            IBM Corp 1,303 7.7 8.2 16.9 08/10/06 FileNet Corp            IBM Corp 1,557 1.0 4.0 29.1 07/09/06 Heritage Ppty Invest Trust Inc            Centro Properties Group 1,753 3.3 3.5 3.6 05/14/06 SSA Global Technologies Inc            Infor Global Solutions 1,529 25.1 24.0 25.8 05/01/06 Aviall Inc            Boeing Co 1,716 27.3 28.7 27.2 04/27/06 Diagnostic Products Corp            Siemens Medical Solutions Inc 1,767 20.7 17.7 24.5 04/25/06 Serologicals Corp            Millipore Corp 1,389 35.3 34.3 33.1 04/20/06 Ubiquitel Inc Sprint Nextel Corp 1,035 1.6 1.9 3.1 01/22/06Sports Authority Inc            Investor Group 1,021 20.0 26.0 20.8 11/20/05 Beverly Enterprises Inc            Fillmore Capital Partners LLC 1,593 33.3 35.9 36.8 11/10/05 SERENA Software Inc            Silver Lake Partners 1,026 2.7 7.3 24.4 11/08/05 Linens n Things Inc            Investor Group 1,295 7.9 14.9 17.0 10/24/05 Amli Residential Ppty Trust Prime Property Fund 1,177 20.7 22.7 19.1 10/16/05 Adv Neuromodulations Sys Inc            St Jude Medical Inc 1,369 30.4 22.8 21.8 09/29/05 IDX Systems Corp            GE Healthcare Ltd 1,488 25.1 33.6 38.8 09/15/05 UICI            Investor Group 1,719 19.1 17.1 19.9 08/04/05 Metris Cos Inc            HSBC Finance Corp 1,575 1.1 0.5 3.2 07/21/05 Priority Healthcare Corp            Express Scripts Inc 1,252 7.7 9.3 10.7 07/10/05 US Unwired Inc            Sprint Corp 1,072 1.5 4.3 24.3 06/16/05 Vicuron Pharmaceuticals Inc            Pfizer Inc 1,916 84.2 78.6 68.4 06/13/05 Commercial Federal,Omaha,NE            Bank of the West,CA 1,367 34.1 34.8 36.1 06/07/05 Gables Residential Trust            Investor Group 1,272 14.1 19.5 17.1 05/16/05 Overnite Corp            UPS 1,220 46.2 35.8 42.7 05/12/05 Cuno Inc 3M Co 1,290 31.3 34.7 36.8 04/21/05 Transkaryotic Therapies Inc            Shire Pharmaceuticals Grp PLC 1,384 21.6 38.1 55.5 03/14/05 Ascential Software Corp IBM Corp 1,121 17.8 17.0 16.8 01/31/05 Pulitzer IncLee Enterprises Inc 1,432 1.8 (1.5) (0.9) 01/27/05 Genencor International Inc Danisco A/S 1,151 23.9 22.4 15.8 11/24/04 Ionics Inc GE Infrastructure Inc 1,072 47.9 43.0 52.5 11/03/04 Argosy Gaming Co            Penn National Gaming Inc 1,408 16.4 11.1 17.8 10/20/04 Boca Resorts Inc            Blackstone Real Estate Advisor 1,031 27.9 30.7 31.1 10/19/04 Robert Mondavi Corp            Constellation Brands Inc 1,030 49.9 52.3 50.9 10/18/04 Select Medical Corp            EGL Holding Co 1,983 26.6 27.8 39.3 09/29/04 Orbitz Inc            Cendant Corp 1,229 34.5 33.8 48.4 07/13/04 National Processing Inc            Bank of America Corp 1,425 (9.5) (8.0) (8.8) 05/24/04 NeighborCare Inc            Omnicare Inc 1,410 96.7 94.4 44.2 05/24/04 WFS Financial Inc            Westcorp,Irvine,CA 1,940 3.5 6.2 5.1 05/19/04 ALARIS Medical Systems Inc Cardinal Health Inc 1,743 18.4 11.6 17.8 05/18/04 Kroll Inc            Marsh & McLennan Cos Inc 1,958 32.4 32.9 34.6 03/22/04 US Oncology Inc            Welsh Carson Anderson & Stowe 1,302 18.5 20.3 17.3 03/15/04 InVision Technologies Inc GE Infrastructure Inc 1,159 21.3 23.3 31.3 01/13/04 TheraSense Inc            Abbott Laboratories 1,243 33.0 35.5 50.0 12/21/03 Esperion Therapeutics Inc Pfizer Inc 1,281 54.2 52.8 57.6 Median—100% Cash Transactions 20.9 % 22.7 % 25.2 % 1. Includes equity values between $1 billion and $2 billion over last three years. US public company targets only. Valuation Update 18

III. LBO Analysis

csdtampa 29 Jun 2007 19:18 20/40 Illustrative LBO Analysis Assumes $33.00 Purchase Price Sources and Uses 7.0 x Total Debt / EBITDA Sources of Funds            Uses of Funds Amount            Expected Cost of      % of            x 12/31/06E Amount ($mm) Rating            Debt            Total            Adj. EBITDA1 ($mm) Revolver2 $ 0.0 Ba3/B            L + 250 0.0% 0.0x            Equity Consideration3 $ 1,593.2 1st Lien Term Loan B 700.0 Ba3/B            L + 250 40.1% 4.3x            Existing Debt Retired 111.6 Bank Debt $ 700.0 40.1% 4.3x            Total Purchase Price 1,704.8 Senior Unsecured Notes 275.0 B3/CCC+ 9.0% 15.8% 1.7x            Legal / Advisory Fees 12.0 Senior Debt $ 975.0 55.8% 6.0x            Financing Costs 29.2 Senior Subordinated Notes 160.0 Caa1/CCC+ 10.5% 9.2% 1.0x Total Debt $ 1,135.0 65.0% 7.0x Sponsor Equity Contribution 611.0 35.0% 3.8x Total Sources $ 1,746.0 100.0% 10.8x            Total Uses $ 1,746.0 LBO Analysis 20

Illustrative LBO Returns Analysis Returns at Various Exit Dates – Assumes 7.0x Leverage, Exit at 8.5x LTM EBITDA Entrance Premium to Undisturbed Stock Price 19.7 % 23.8 % 27.9 % 32.1 % 36.2 % 40.3 % 1540% $ 29.00 $ 30.00 $ 31.00 $ 32.00 $ 33.00 $ 34.00 2010 27.6 % 23.2 % 19.5 % 16.3 % 13.4 % 10.9 % Exit Date 2011 26.6 23.2 20.3 17.7 15.4 13.4 2012 25.6 22.8 20.4 18.3 16.4 14.7 Returns at Various Exit Multiples – Assumes 7.0x Leverage Entrance Premium to Undisturbed Stock Price 19.7 % 23.8 % 27.9 % 32.1 % 36.2 % 40.3 % 32% $ 29.00 $ 30.00 $ 31.00 $ 32.00 $ 33.00 $ 34.00 EBITDA Multiple 8.0x 23.8 % 20.5 % 17.6 % 15.1 % 12.9 % 10.8 % 8.5x 26.6 23.2 20.3 17.7 15.4 13.4 9.0x 29.2 25.7 22.7 20.1 17.8 15.7 2011 Exit 9.5x 31.6 28.1 25.0 22.4 20.0 17.8 10.0x 33.9 30.3 27.2 24.5 22.0 19.9 Returns at Various Leverage Levels – Assumes Exit at 8.5x 2011 LTM EBITDA Entrance Premium to Undisturbed Stock Price 19.7 % 23.8 % 27.9 % 32.1 % 36.2 % 40.3 % 15% $ 29.00 $ 30.00 $ 31.00 $ 32.00 $ 33.00 $ 34.00 EBITDA 6.0x 21.8 % 19.4 % 17.3 % 15.3 % 13.6 % 11.9 % 6.5x 23.9 21.1 18.6 16.4 14.4 12.6 Debt / at Close 7.0x 26.6 23.2 20.3 17.7 15.4 13.4 LTM 7.5x 30.5 26.1 22.5 19.4 16.7 14.3 8.0x 36.0 30.1 25.5 21.6 18.4 15.6 LBO Analysis 21

Base Case for Illustrative LBO Analysis1 ($ in millions) Pro Forma            CY Ended December 31, ($ in millions) LTM 12/31/06E 2007E ² 2008P 2009P 2010P 2011P 2012P OPERATIONAL DATA Total Sales $460.3 $506.9 $547.5 $591.2 $638.5 $689.6 $744.8 growth 10.1% 8.0% 8.0% 8.0% 8.0% 8.0% Adjusted EBITDA 162.3 176.9 194.3 209.9 226.7 244.8 264.4 margin 35.3% 34.9% 35.5% 35.5% 35.5% 35.5% 35.5% EBIT $123.8 $123.7 $139.3 $154.9 $171.7 $189.8 $209.4 Total Interest Expense 1.4 94.9 89.8 87.5 84.6 80.4 74.8 Net Income (Loss) to Common 77.1 17.9 30.7 41.8 54.0 67.8 83.5 SELECTED CASH FLOW DATA: Adjusted EBITDA $162.3 $176.9 $194.3 $209.9 $226.7 $244.8 $264.4 +/- Changes in Working Capital (7.4) 2.3 2.0 2.2 2.3 2.5 2.7 — Total Capital Expenditures (110.0) (65.0) (55.0) (55.0) (55.0) (55.0) (55.0) = Operating Cash Flow 44.9 114.2 141.3 157.1 174.0 192.3 212.1 — Cash Taxes (46.5) (10.9) (18.8) (25.6) (33.1) (41.6) (51.2) — Cash Interest Expense (net) (1.4) (92.0) (86.8) (84.6) (81.6) (77.5) (71.8) = Cash for Debt Service (3.0) 11.3 35.7 46.9 59.3 73.3 89.1 Cumulative Cash for Debt Service 11.3 46.9 93.8 153.1 226.3 315.5 CAPITALIZATION: Cash $36.0 $15.0 $15.0 $15.0 $15.0 $15.0 $15.0 Revolver 0.0 0.0 0.0 0.0 0.00.0 0.0 1st Lien Term Loan B700.0 667.7 632.1 585.2 525.9 452.7 363.5 Total Bank Debt$700.0 $667.7 $632.1 $585.2 $525.9 $452.7 $363.5 Senior Subordinated Notes160.0 160.0 160.0 160.0 160.0 160.0 160.0 Total Debt $1,135.0 $1,102.7 $1,067.1 $1,020.2$960.9 $887.7 $798.5 Shareholders’ Equity 611.0 628.9 659.6 701.4 755.4 823.3 906.7 Total Capitalization 1,746.0 1,731.6 1,726.7 1,721.6 1,716.4 1,710.9 1,705.3 CREDIT STATISTICS: Adjusted EBITDA / 1st Lien Interest 3.1x 3.5x 4.3x 4.9x 5.7x 6.8x 8.7x Adjusted EBITDA / Cash Interest 1.7x 1.9x 2.2x 2.5x 2.8x 3.2x 3.7x Adjusted EBITDA / Total Interest 1.6x 1.9x 2.2x 2.4x 2.7x 3.0x 3.5x (Adjusted EBITDA – Capex) / Total Interest 36.9x 1.2x 1.6x 1.8x 2.0x 2.4x 2.8x 1st Lien Debt / Adj. EBITDA 4.3x 3.8x 3.3x 2.8x 2.3x 1.8x 1.4x Senior Debt / Adj. EBITDA 6.0x 5.3x 4.7x 4.1x 3.5x 3.0x 2.4x Total Debt / Adj. EBITDA 7.0x 6.2x 5.5x 4.9x 4.2x 3.6x 3.0x Free Cash Flow / Total Debt (0.3)% 1.0 % 3.3 % 4.6 % 6.2 % 8.3 % 11.2 % Total Debt / Total Capitalization 65.0 % 63.7 % 61.8 % 59.3 % 56.0 % 51.9 % 46.8 % 1Based on management projections. Management projections have not yet been reviewed by Colorprint’s board. LBO Analysis 22

Appendix A: Financial Sponsors Profiles

Apollo Management Overview            Senior Investment Team Apollo Management began investing its first fund in 1990 and is currently Leon Black Chairman and Founding Partner managing its sixth private equity fund, Apollo Investment Fund VI, which has John Hannan Founding Senior Partner $10 billion of committed capital Josh Harris Founding Senior Partner Since its inception, Apollo has invested more than $20 billion in over 125 Marc Rowan            Founding Senior Partner companies representing a wide variety of industries, both domestically and internationally            Andrew Africk Senior Partner Apollo maintains a 4 part organization structure, with each fund group            Larry Berg            Senior Partner managed separately: Marc Becker            Senior Partner — Apollo Corporate – $25 billion across 6 funds            Peter Copses            Senior Partner — Apollo Real Estate – $4.1 billion across 4 funds — Apollo Distressed Investment Fund – ~$650 million fund — Apollo Investment Corp – $1.7 billion, publicly-traded closed end fund dedicated to mezzanine investments in private, middle-market companies In August 2006, Apollo raised $8 billion in an IPO of AP Alternative Assets (AAA) on the Euronext Amsterdam Exchange. Approximately 50% of the capital of AAA will be invested in private equity and 50% in Apollo’s capital markets-focused funds Apollo is based in Purchase, New York with offices in Los Angeles and London Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Harrah’s Entertainment            Pending $26,600 Cendant Corp, Marketing Services Division 26-Jul-2005 $1,825 Jacuzzi Brands 11-Oct-2006 $1,250 Metals USA Inc. 18-May-2005 459 GE Advanced Materials 14-Sep-2006 3,800 Goodman Global Holdings Inc. 19-Nov-2004 1,430 Berry Plastics Corp. 28-Jun-2006 2,250 Intelsat Ltd. 16-Aug-2004 5,000 Verso Paper Inc. 05-Jun-2006 1,400 AMC Entertainment Inc. 22-Jul-2004 1,892 Rexnord Corp. 25-May-2006 1,825 Borden Chemical Inc. 06-Jul-2004 1,200 SourceCorp Inc. 07-Mar-2006 393 United Agri Products 31-Oct-2003 610 Tyco, Plastics & Adhesives Business 20-Dec-2005 975 General Nutrition Cos . 17-Oct-2003 750 Linens ‘n Things Inc. 08-Nov-2005 1,290 Nalco Co. 04-Sep-2003 4,350 Financial Sponsors Profiles 24

The Blackstone Group Overview            Senior Investment Team The Blackstone Group has been a leader in the field of private equity investing since 1987, Peter Peterson            Co-Founder, Senior Chairman managing almost $30 billion through its Blackstone Capital Partners I, II, III, IV, and V and Stephen Schwarzman Co-Founder, Chairman and CEO Blackstone Communications Partners funds            Hamilton James            President In July 2006, the Group closed Blackstone Capital Partners V with $15.6 billion of Tomlinson Hill Vice Chairman committed capital and has recently announced plans for a second closing at approximately Joe Baratta Senior MD (London) $20 billion David Blitzer Senior MD (London) Blackstone has invested in approximately 100 companies in a variety of industries, Michael Chae            Senior MD (New York) geographies and economic environments The total enterprise value of all transactions effected up to June 30, 2006, is over $158 Chinh Chu Senior MD (New York) billion            David Foley            Senior MD (New York) Blackstone’s target investment size is between $250 million to $3 billion            Larry Guffey            Senior MD (London) Blackstone specializes in the communications and healthcare sectors            Akhil Gupta            Senior MD (Mumbai) North America and Western Europe are primary markets, although the firm has invested in Prakash Melwani            Senior MD (New York) Latin America and emerging European markets            Garrett Moran            Senior MD (New York) — In recent years, Blackstone’s Private Equity Group has increased its focus on Europe            Hanns Ostmeier            Senior MD (Hamburg) — In February 2001, Blackstone entered into a strategic alliance with Roland Berger James Quella Senior MD (New York) Strategy Consultants GmbH, one of Europe’s leading management consultants. This Chip Schorr Senior MD (New York) alliance was created to provide Blackstone with access to proprietary deal flow, Neil Simpkins Senior MD (New York) preeminent intellectual capital and local knowledge of key European markets David Tolley Senior MD (New York) The Group has offices in New York, Atlanta, Boston, Los Angeles, London, Hamburg, Kenneth Whitney            Senior MD (New York) Paris and Mumbai Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Equity Office Properties            Pending $36,000 TeamHealth Inc. 11-Oct-2005 NA United Biscuits 25-Oct-2006 £2,400 UICI 15-Sep-2005 $1,800 Trizec Properties 05-Oct-2006 $7,200 Wyndham International Inc. 14-Jun-2005 3,240 Freescale Semiconductor Inc. 15-Sep-2006 19,000 Su nGard Data Systems Inc 28-Mar-2005 11,300 Michaels Stores Inc. 30-Jun-2006 6,046 Boca Resorts Inc 20-Oct-2004 1,230 Travelport Inc. 30-Jun-2006 4,300 Prime Hospitality Corp 18-Aug-2004 790 Encore Medical Corp. 30-Jun-2006 870 Vanguard Health Systems Inc. 23-Jul-2004 1,750 CarrAmerica Realty Corp. 06-Mar-2006 5,600 Texas Genco Holdings Inc. 21-Jul-2004 3,650 MeriStar Hospitality Corp 21-Feb-2006 2,600 Extended Stay America Inc. 05-Mar-2004 3,100 VNU NV 16-Jan-2006 11,000 RAG American Coal Holding Inc. 16-Feb-2004 1,000 La Quinta Corp. 09-Nov-2005 2,300 Freedom Communications 14-Oct-2003 2,070 Susquehanna Radio Corp. 31-Oct-2005 1,200 Financial Guaranty Insurance Co. 04-Aug-2003 1,900 Financial Sponsors Profiles 25

The Carlyle Group Overview            Senior Investment Team The Carlyle Group launched its first fund in 1987 and has since made            Louis V. Gerstner, Jr. Chairman more than 500 corporate and real estate investments            Daniel A. D’Aniello            Founding Partner Carlyle, now one of the world’s largest private investment firms, is            William E. Conway            Founding Partner managing Carlyle Partners IV, which has $7.85 billion in committed capital            David M. Rubenstein            Founding Partner Carlyle invests in management led buyouts, minority equity positions, W.W. (Bill) Boisture            Senior Advisor real estate, venture capital, and leveraged finance opportunities in the            Herman H. Chang            Senior Advisor aerospace & defense, automotive & transportation, consumer & retail, Robert Coxon            Senior Advisor energy & power, healthcare, industrial, real estate, technology & business services, and telecommunications & media sectors            Richard G. Darman            Senior Advisor The Group manages over $44 billion in capital with 42 funds across            James H. Hance, Jr. Senior Advisor four investment disciplines (buyouts, venture & growth capital, real            Kent Kresa            Senior Advisor estate and leveraged finance) Duncan Lewis            Senior Advisor Carlyle is engaged in a joint venture with Riverstone to make Energy & Norman Pearlstine            Senior Advisor Power investments (approximately $6 billion of equity commitments) David L. Squier            Senior Advisor Carlyle is based in Washington, D.C. and maintains offices in 16 countries Eliot Merrill            Principal Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Open Solutions            Pending $1,300 SS&C Technologies Inc. 28-Jul-2005 $947 Freescale Semiconductor Inc. Pending 17,500 Insight Communications Co Inc. 07-Mar-2005 2,100 Kinder Morgan Inc. Pending 22,000 Verizon, Wireline Related Business 21-May-2004 1,650 EnCana Corp, Gas Storage Business 06-Mar-2006 1,500 PanAmSat Corp. 20-Apr-2004 4,300 VNU NV 16-Jan-2006 11,000 Williams Energy Partners LP 21-Apr-2003 1,100 Dunkin Brands 12-Dec-2005 2,500 FiatAvio Inc. 07-Apr-2003 1,700 Com Hem AB 05-Dec-2005 1,170 Qwest Communications International Inc. 20-Aug-2002 7,050 Hertz Corp. 12-Sep-2005 15,000 Vivendi Publish , Business Publishing 18-Apr-2002 1,409 Financial Sponsors Profiles 26

Hellman & Friedman Overview            Senior Investment Team Hellman & Friedman, founded in 1984, is a private equity investment Warren Hellman Co-Founder and Chairman firm well respected for its distinctive investment philosophy and Brian Powers CEO approach During its 18-year investing history, the Firm has raised and managed            C. Andrew Ballard            Managing Director over $8 billion of capital and has invested in over 50 companies            Mitchell Cohen            Managing Director Hellman & Friedman is currently investing its fifth fund, Hellman & Jeffrey Goldstein            Managing Director Friedman Capital Partners V, with $3.5 billion of committed capital. Philip Hammarskjold            Managing Director Hellman & Friedman is raising $8 billion for its sixth fund, Hellman & Friedman Capital Partners VI. Patrick Healy            Managing Director The Firm looks to invest long-term equity capital to support the strategic Georgia Lee Managing Director and financial objectives of outstanding management teams operating Thomas Steyer Managing Director businesses with defensible positions in growing markets The Group has a target investment size of $100 million — $1 billion            Allen Thorpe            Managing Director Offices are located in San Francisco, London, and New York            David Tunnell            Managing Director Frank Zarb            Managing Director Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Intergraph Corp. 31-Aug-2006 $1,331 Texas Genco Holdings Inc. 21-Jul-2004 $3,650 Activant Solutions Inc. 13-Mar-2006 825 Delaware International Ltd. 05-May-2004 200 VNU NV 16-Jan-2006 11,000 Arch Capital Group Limited 20-Nov-2001 250 LPL Group 27-Oct-2005 2,500 NASDAQ 28-Mar-2001 240 DoubleClick Inc. 25-Apr-2005 1,100 Mitchell International 29-Feb-2000 NA Vertafore 23-Nov-2004 NA Financial Sponsors Profiles 27

Kohlberg Kravis Roberts & Co Overview            Senior Investment Team Founded in 1976, Kohlberg Kravis Roberts & Co (KKR) is one of the world’s Henry Kravis* Co-Founder oldest and most experienced private equity firms George Roberts* Co-Founder Since its inception, KKR has completed approximately 140 transactions, invested more than $25 billion in equity capital, and raised more than $195 Michael Calbert            Partner, Retail billion in acquisition financing            Brian Carroll            Partner, Chemicals and Consumer KKR’s approach to private equity investing focuses on acquiring attractive Adam Clammer            Partner, Technology business franchises and working closely with management over the long term to design and execute value-creating strategies Todd Fisher* Partner, Chemicals and Financial Institutions — KKR has a long track record of investing large pools of capital and generating Fred Goltz Partner, Energy and Power attractive returns and multiples of invested capital Johannes Huth* Partner, Healthcare The Firm specializes in management buyouts, with a focus on transactions of greater than $1 billion in enterprise value Mark Lipschultz            Partner, Energy and Power KKR is expecting to close a $16.5 billion fund at the end of 2006. Additionally, Michael Marks Partner, Technology KKR has raised the following funds: Mike Michelson* Partner, Healthcare — €4.5 billion for its European fund — $ 800 million from the IPO of KKR Financial Corp, a diversified real estate            Alex Navab* Partner, Media & Telecom investment trust, in July 2004 (NYSE: KFN) Scott Nuttall            Partner, Financial Institutions and KKR REIT — $ 5 billion through IPO of KKR Private Equity Investors, KKR’s publicly-traded            John Saer            Partner, General Industrials fund, in May 2006 (Euronext Amsterdam: KPE) Headquartered in New York, the Firm has offices in Menlo Park, London, Paris, Hong Kong, and Tokyo Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Seven Media Group 20-Nov-2006 $3080 Capmark 03-Aug-2005 $1,500 Kion – unit of Linde 06-Nov-2006 5,100 SunGard Data Systems Inc. 28 Mar-2005 11,300 Tarkett 23-Oct-2006 1,760 Toys “R” Us Inc. 17-Mar-2005 7,000 Philips Semiconductors 03-Aug-2006 10,600 Visant 21-Jul-2004 2,200 HCA Inc. 24-Jul-2006 32,919 Texas Genco Holdings Inc. 21-Jul-2004 3,650 VNU NV 16-Jan-2006 11,000 PanAmSat Corp 20-Apr-2004 4,300 Accellent Inc. 10-Oct-2005 1,270 Sealy Corp 04-Mar-2004 1,500 Avago 14-Aug-2005 2,660 MTU Aero Engines GmbH — DaimlerChrysler 21-Nov-2003 1,800 * Member of Investment Committee Financial Sponsors Profiles 28

Providence Equity Partners Overview            Senior Investment Team Providence Equity Partners Inc. is a private investment firm specializing in            Jonathan M. Nelson (Providence) CEO equity investments in communications and media companies around the Glenn M. Cream(Providence) Senior Managing Director world The principals of Providence Equity manage funds with over $9.0 billion in Paul J. Salem (Providence) Senior Managing Director equity commitments, including Providence Equity Partners V, which has Albert Dobron (Providence) Managing Director $4.25 billion in committed capital Michael Dominguez (Providence) Managing Director Providence is in the market now with Providence Equity Partners VI, which is expected to raise $10 billion and to close in early 2007 Alexander Evans (New York) Managing Director Since 1990, the principals of Providence Equity have invested in more than John Hahn (London) Managing Director, London Head 80 companies with operations in over 20 countries Mark Masiello (Providence) Managing Director Current and previous areas of investment include wireless and wireline telephony, cable television content and distribution, publishing, radio and            Jörg Mohaupt (London) Managing Director television broadcasting, and other media and communications sectors Mark Pelson (Providence) Managing Director Providence’s target investment size per transaction is $100 million to $1 Julie Richardson (New York) Managing Director, New York Head billion Gustavo Schwed (London) Managing Director — The fund’s institutional limited partners have co-invested directly in transactions that require substantially greater funding Biswajit Subramanian (London) Managing Director Providence Equity currently has offices in Providence, London, and New            Peter Wilde (Providence) Managing Director York Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Idea Cellular 26-Oct-2006 NA TDC A/S 30-Nov-2005 15,600 Open Solutions            Pending $1,300 Grupo Corporativo Ono SA 29-Jul-05 $1,213 Caudwell Group 6-Aug-06 2,785 SunGard Data Systems Inc. 28-Mar-2005 11,300 Univision Communications Inc. Pending 13,510 Recoletos Grupo Comunicacion 14-Dec-04 1,300 Kerzner International Ltd. 20-Mar-06 3,800 Telcordia Technologies Inc 18-Nov-04 1,350 Education Management Corp. 6-Mar-06 3,354 Metro-Goldwyn-Mayer Inc 13-Sep-04 4,840 Kabel Deutschland GmbH & Co KG 7-Dec-05 3,750 PanAmSat Corp 20-Apr-2004 4,300 Com Hem AB 05-Dec-2005 1,170 Warner Music Group 24-Nov-2003 $2,600 Financial Sponsors Profiles 29

Texas Pacific Group Overview            Senior Investment Team Founded in 1992, Texas Pacific Group (TPG) is one of the largest U.S. David Bonderman Founder buyout firms with over $20 billion of capital under management James G. Coulter Founder TPG focuses on turnarounds, management-led buyouts and recapitalizations in the media and telecommunications, industrials, William S. Price            Founder technology and health care businesses John Marren            Partner, Technology & Telecom The Firm is currently investing its fifth fund, TPG Partners V, with Justin Chang Partner, Technology & Telecom approximately $14 billion of committed capital Jonathan Coslet Partner, Generalist TPG has made significant investments in many important brand-name companies including Burger King, Seagate, J.Crew, Bally, and Ducati            Kelvin Davis            Partner, Generalist TPG seeks to invest in established businesses requiring equity capital Rick Schifter Partner, Generalist between $100 million and $750 million Stephen Peel Partner, Europe Headquartered in San Francisco with offices in Fort Worth and New York            Bryan Taylor            Partner Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) TDF SA 11-Oct-2006 $4,140 Univision Communications Inc. 27-Jun-2006 13,511 Harrah’s Entertainment            Pending 26,600 LPL Group 27-Oct-2005 $2,500 Freescale Semiconductor Inc 15-Sep-2006 $19,000 Neiman Marcus Group Inc. 02-May-2005 5,095 Intergraph Corp. 31-Aug-2006 1,331 SunGard Data Systems Inc. 28-Mar-2005 11,300 Field Container Co. 18-Aug-2006 325 Fidelity National Information Services 08-Dec-2004 500 Aleris International Inc. 08-Aug-2006 3,307 Metro-Goldwyn-Mayer Inc. 13-Sep-2004 4,840 Petco Animal Supplies Inc. 14-Jul-2006 1,800 Texas Genco Holdings Inc. 21-Jul-2004 3,650 Smurfit-Stone Container Corp, 30-Jun-2006 1,040 Iasis Healthcare 05-May-2004 1,400 Consumer Packaging Unit Burger King Corp. 25-Jul-2002 2,260 Freescale Semiconductor Inc 15-Sep-2006 $19,000 Financial Sponsors Profiles 30

Thomas H. Lee Partners Overview            Senior Investment Team Founded in 1974, Thomas H. Lee Partners (TH Lee) currently manages Anthony DiNovi Co-President approximately $14 billion of committed capital Scott Schoen Co-President TH Lee recently raised $9 billion for its latest fund, Thomas H. Lee Equity Fund VI            Scott Sperling            Co-President Known as a “friendly” leveraged buyout firm, it uses a mix of debt, Richard J Bressler            Managing Director funds from institutional investors, and its own money to buy companies            Seth Lawry            Managing Director Thomas H. Lee Partners employs 75 people, including 20 partners Joseph F. Pesce            Managing Director The company is headquartered in Boston Soren Oberg            Managing Director Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Clear Channel Communications Inc. Pending $26,775 Grupo Corporativo Ono SA 29-Jul-2005 $1,213 Hawkeye Holdings Inc. 30-Jun-2006 1,082 Azoffmusic Management 06-Jan-2005 200 Univision Communications Inc. 27-Jun-2006 13,510 Fidelity National Information Services Inc. 08-Dec-2004 500 West Corp 31-May-2006 4,100 Warner Chilcott PLC 27-Oct-2004 2,980 Aramark Corp 01-May-2006 7,600 Nortek Holdings Inc 15-Jul-2004 1,750 Sedgwick CMS 30-Jan-2006 635 Warner Music Group 24-Nov-2003 2,600 VNU NV 16-Jan-2006 11,000 Simmons Co 17-Nov-2003 1,100 Dunkin Brands 12-Dec-2005 2,500 Liquidnet 2001 29 Susquehanna Radio Corp 31-Oct-2005 1,200 Currenex 17-Apr-2000 22 Financial Sponsors Profiles 31

Welsh, Carson, Anderson & Stowe Overview            Senior Investment Team Founded in 1979, Welsh, Carson, Anderson & Stowe (WCAS) is a New Bruce K. Anderson Co-Founder, General Partner York-based investment firm that concentrates its investments Russell L. Carson Co-Founder, General Partner exclusively in healthcare, information & business services, and communications industries and typically taking an active role in their Patrick J. Welsh Co-Founder, General Partner management Jonathan M. Rather General Partner and CFO WCAS is currently investing out of its tenth fund, WCAS X, with $3.5 John Clark            Partner billion in committed capital With more than 200 deals under its belt since its start in 1979, the firm            Tony de Nicola            Partner invests in management buyouts, restructurings and recapitalizations, and public to private transactions WCAS typically invests between $50 million and $500 million in a company, often holding controlling stakes Notable Recent Investments Investment            Date            Size ($mm) Investment            Date Size ($mm) Caribe Information Investments 02-Mar-2006 $260 US Oncology 20-Aug-2004 $1,282 Select Medical 18-Oct-2005 2,300 AmeriPath Inc 09-Dec-2002 792 Ozburn-Hessey Logistics 27-Jun-2005 NA            US Investigations Services Inc 04-Dec-2002 545 Ruesch International 02-Dec-2004 NA Qwest Commun Intl Inc, QwestDex 20-Aug-2002 7,050 Select Medical Corp 18-Oct-2004 2,300 Amdocs Ltd 01-May-1998 NA            US Oncology Inc 22-Mar-2004 1,700 JC Penny Business Services 15-Jan-1996 NA Financial Sponsors Profiles 32

Appendix B: Additional Information

Colorprint Summary Financials ($ in millions) For FY Ended Mar 31, For CY Ending Dec 31, 20021 2003 2004 2005 2006 2006E2 2007E2 Income Statement Net revenues $ 367.9 $ 383.8 $ 408.6 $ 410.1 $ 417.7 $ 460.3 $ 506.9 % YOY growth 8.2 % 4.3 % 6.5 % 0.3 % 1.9 % 14.0 % 10.1 % EBITDA $ 136.5 $ 127.0 $ 143.4 $ 151.2 $ 150.2 $ 153.8 $ 175.4 % YOY growth 9.1 % (6.9)% 12.9 % 5.5 % (0.7)% 9.2 % 14.0 % % EBITDA margin 37.1 33.1 35.1 36.9 35.9 33.4 34.6 D&A $ 40.9 $ 40.9 $ 45.2 $ 42.4 $ 36.0 $ 38.5 $ 53.2 % of revenue 11.1 % 10.6 % 11.1 % 10.4 % 8.6 % 8.4 % 10.5 % Operating income $ 95.6 $ 86.1 $ 98.1 $ 108.8 $ 114.2 $ 115.3 $ 122.2 % YOY growth 17.3 % (9.9)% 13.9 % 10.9 % 4.9 % 10.9 % 6.0 % % Operating margin 26.0 22.4 24.0 26.5 27.3 25.0 24.1 Net Income from Operations $ 66.6 $ 51.6 $ 60.4 $ 68.6 $ 71.6 $ 72.1 $ 69.3 % YOY growth 19.8 % (22.6)% 17.1 % 13.6 % 4.4 % 10.1 % (3.9)% Diluted EPS $ 1.17 $ 0.94 $ 1.15 $ 1.31 $ 1.46 $ 1.53 $ 1.51 % YOY growth 21.5 % (19.5)% 22.9 % 13.5 % 11.7 % 22.4 % (1.3)% Diluted Shares Outstanding 57.1 54.9 52.3 52.4 48.9 46.9 45.9 Balance Sheet PP&E, Net $ 146.1 $ 148.7 $ 126.8 $ 103.3 $ 128.5 $ 203.0 NA            Total assets 415.9 422.4 386.8 392.7 337.1 433.7 NA Cash & securities 13.7 1.772.7 116.2 28.1 36.0 NA Debt 60.9 68.2 66.9 64.6 61.9 137.0 NA Shareholders equity 223.3 216.0 184.7 196.4 143.2 162.7 NA Selected Data ROACE 32.8 % 23.5 % 30.1 % 36.0 % 42.2 % 43.4 % NA Debt / Total Capital 21.4 24.0 26.6 24.8 30.2 45.7 NA Debt / EBITDA 0.4 x 0.5 x 0.5 x 0.4 x 0.4 x 0.9 x            NA Free Cash Flow $ 73.3 $ 64.7 $ 96.3 $ 85.6 $ 42.6 $(10.4) $ 64.0 Additional Information 34

Adjusted EBITDA Calculations ($ in millions) CY 2006E CY 2007E EBIT $ 115.3 $ 122.2 Depreciation & Amortization 38.5 53.2 EBITDA $ 153.8 $ 175.4 One time items Year End Change Accounting Expense $ 0.6 $ 0.0 Color Installation 2.9 0.8 Severance 1.7 0.0 Office Closure 0.5 0.0 Shareholder Settlement 0.3 0.0 $ 6.0$ 0.8 Public Co. Activities Investor Relations $ 0.7 $ 0.7 Audit Firm Services 0.6 0.6 Internal Audit SOX 1.0 1.0 Accounting Organization 0.7 0.7 $ 3.0$ 3.0 Total Adjustments $ 9.0 $ 3.8 Reduction in Adjustments For Conservatism (0.5) 0.0 Adjusted EBITDA $ 162.3 $ 179.2 Additional Information 35

Research Analysts’ Recommendations and Estimates Analyst Recommendations            Evolution of Estimates1 Strong $1.49 Buy $1.60 2009E 13% $1.46 Underperform            Estimate Buy 2008E 25% $1.20 $1.25 $1.46 13% $1.27 2005A 2006A 2007E EPS $1.19 $0.80 2004A Hold 50% $0.40 Dec-2003 Jul-2004 Feb-2005 Sep-2005 Apr-2006 Nov-2006 Monthly from 31-Dec-2003 to 12-Dec-2006 Recommendations: 8 2004 2005 2006 2007 2008 2009 Price Targets Individual Analyst Estimates2 $ 30.00 Growth Estimates CY Ended Dec $29.00 Estimate Current = $28.58 Broker Date Rating ‘05-’06E ‘06-’07E 5-Yr. ‘06E ‘07E $ 28.00 Goldman Sachs3 26-Oct-2006 Underperform 24.0% -1.3% — $1.55 $1.53 $ 26.00 Bear, Stearns 01-Nov-2006 Hold 25.6% -0.6% 8.5% 1.57 1.56 $24.62 $25.00 Deutsche Bank 31-Oct-2006 Hold 24.8% 12.8% — 1.56 1.76 $ 24.00 First Anal. Sec. 01-Nov-2006 Hold 24.0% 5.8% 10.04 1.55 1.64 $23.00 JMP Securities 22-Nov-2006 Underperform 27.2% 1.9% 10.0 1.59 1.62 $ 22.00 J.P. Morgan 02-Nov-2006 Buy 27.2% 13.2% — 1.59 1.80 Robert W. Baird 01-Nov-2006 Hold 23.2% 1.3% — 1.54 1.56 $ 20.00 Goldman Robert Deutsche JMP            William Blair 13-Nov-2006 Strong Buy 20.8% 9.3% 7.0 1.51 1.65 Sachs ² Baird            Bank Securities            Median 24.4% 3.8% 8.5% $1.56 $1.62 1Evolution of EPS estimates based on fiscal year-end Mar-31 estimates, estimates unadjusted for FAS123R expense. 2EPS estimates adjusted to exclude FAS123R expense. 3 Goldman Sachs coverage of POS was temporarily suspended on 8-Dec-2006. 4 First Analysis Securities estimate excluded from IBES median 5 year growth estimate. Additional Information 36

Management vs. Analysts Estimates ($ in millions, except per share data) CY 2006 Estimates1 EPS            Revenue            EBITDA            EBIT            Net Income Avg. Shares Management2 $ 1.53 $ 460.3 $ 153.8 $ 115.3 $ 72.1 47.1 Goldman, Sachs & Co. 1.55 452.5 NA NA 75.3 48.6 Bear, Stearns & Co. 1.57 449.0 156.4 118.0 73.4 46.8 Deutsche Bank North America 1.56 451.9 153.0 114.7 73.0 46.8 First Analysis Securities Corp 1.55 451.2 150.3 113.1 72.7 46.9 JMP Securities 1.59 452.8 NA 116.2 74.2 46.7 JP Morgan 1.59 NA            NA NA            NA NA Robert W. Baird & Co., Inc. 1.54 456.4 155.7 117.1 72.1 46.8 William Blair & Company, L.L.C. 1.51 450.7 NA NA            NA NA Analyst Median $ 1.56 $ 451.9 $ 154.4 $ 116.2 $ 73.2 46.8 Analyst Range — High to Low 5.3 % 1.6 % 4.0 % 4.3 % 4.4 % 4.0 % CY 2007 Estimates3 EPS            Revenue            EBITDA            EBIT            Net Income Avg. Shares Management2 $ 1.51 $ 506.9 $ 175.4 $ 122.2 $ 69.3 45.9 Goldman, Sachs & Co. 1.53 465.4 163.6 106.7 72.4 47.2 Bear, Stearns & Co. 1.56 470.7 162.7 107.0 71.0 45.5 Deutsche Bank North America 1.76 492.1 172.9 123.3 79.9 45.5 First Analysis Securities Corp 1.64 477.7 156.9 113.4 76.3 46.6 JMP Securities 1.62 490.7 NA 113.5 75.0 46.2 JP Morgan 1.80 NA            NA NA            NA NA Robert W. Baird & Co., Inc. 1.56 504.3 172.1 122.6 71.5 45.9 William Blair & Company, L.L.C. 1.65 485.5 NA NA            NA NA Analyst Median $ 1.62 $ 485.5 $ 163.6 $ 115.1 $ 73.8 46.1 Analyst Range — High to Low 17.6 % 8.4 % 10.2 % 15.6 % 12.5 % 3.8 % Additional Information 37

Peer Beta Calculation Average of Different Beta Sources 5-Year Levered Betas Barra            Bloomberg1 Average Colorprint 0.97 1.19 1.08 Harte Hanks 0.81 0.71 0.76 Acxiom 0.79 1.02 0.91 Valassis 1.56 0.91 1.23 Advo 1.15 0.81 0.98 InfoUSA 1.21 1.19 1.20 Median 1.06 0.97 1.03 Additional Information 38

Cost of Equity and WACC Analysis ($ in millions) Risk            Cost of Pre-Tax Effective Risk-Free Premium Equity Beta Equity            Cost of Tax Rate Current Curr. Mkt. Val. Rate1 2 3 4 (t)5 Debt (D)6 of Equity (E)7 WACC (Rp) (Be) (Ke) Debt (Kd) Colorprint8 4.54 % 5.00 % 1.08 9.93 % 5.34 % 38.0 % $ 112 $ 1,352 9.42 % Harte Hanks 4.54 % 5.00 % 0.76 8.35 % 5.96 % 38.0 % $ 167 $ 2,097 8.00 % Acxiom 4.54 5.00 0.91 9.07 6.63 39.0 795 2,026 7.65 Valassis9 4.54 5.00 1.23 10.71 6.23 35.0 260 786 9.06 Advo 4.54 5.00 0.98 9.45 7.10 35.1 124 926 8.87 InfoUSA 4.54 5.00 1.20 10.53 7.08 36.0 137 680 9.53 Median 1.03 9.69 % 8.96 % Additional Information 39

Appendix C: Sponsor Proposals

EX-99.(C)(5)

Exhibit (c)(5)

Presentation to Colorprint Indication of Interest Update

Goldman, Sachs & Co. 22-Dec-2006

Table of Contents

I. Bid and Schedule Update Appendix A: Financial Sponsors Profiles Appendix B: Sponsor Proposals

Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

I. Bid and Schedule Update

Comparison of Preliminary Indications of Interest New Indications of Interest Key Transaction Terms

Bain Capital Providence Equity Consideration Per Share * $28.00-$30.00 * $33.00-$35.00 Enterprise Value ($mm) * $1,431-$1,528 * $1,673-$1,782 Expected Sources of Financing * Equity provided by Bain’s internally managed group of private equity funds (Over $12.0 bn) * Debt financing to be specified after continued work * Equity provided by Providence Equity Partners V LP ($4.25 bn) * Debt financing consistent with Goldman indicative leverage levels (7.0x) Timing Issues * NA * Assuming management presentations begin in early January and Providence has access to management transaction could be signed in March 2007 Position Regarding Existing Management * Welcome and encourage direct equity participation in this transaction by members of management * Expect to develop a management incentive equity program * Plan to structure a comprehensive equity ownership plan * Providence will not engage in daily operations or management of Catalina. Providence invests in companies where management has their confidence to execute the agreed strategy. Other Considerations / Assumptions * Due diligence focused on: 1. Industry competitive dynamics 2. The evolution of Catalina’s customer relationships 3. Sources of historical organic growth 4. Current and future opportunities to grow the business 5. Customary legal and accounting due diligence * Assumes that the business is delivered with normal levels of working capital * Due diligence focused on: 1. Detailed review of recent performance 2. Business unit profitability trends 3. Review of color printing initiative 4. Standard legal, tax, insurance, and pension issues 5. Review of material contracts 6. Review of current balance sheet 7. Review of IT infrastructure 8. Review of capital investment requirements Advisors * NA * NA

Other Firms Participating in Management Calls

Bain Capital* Madison Dearborn * Warburg Pincus

Colorprint Illustrative Timetable December 2006 S            M            T            W            T            F            S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 January 2006 S            M            T            W            T            F            S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 February 2006 S            M            T            W            T            F            S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 March 2006 S            M            T            W            T            F            S 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 Important Dates Holidays Date: Event:

December 21st * Preliminary indications of interest due from additional Sponsors December 22nd * Review additional bids with Board / Special Committee * Notify additional Sponsors selected to continue in process Dec 14th — 26th * Prepare due diligence items, refine management five year projections, develop management presentations and populate on-line data room Dec 27th * Deliver 5 year financial projection model to Sponsors; open on-line data room Dec 28th — 29th * Calls with Sponsors to review financial model Dec 28th — Jan 12th * Sponsor due diligence with Colorprint (2 days each with broader Company management participation) Jan 8th, Jan 15th * Process follow-up request items from Sponsors * Deliver draft Purchase Agreement to Sponsors Jan 24th * Final bids due from Sponsors with mark-up of Purchase Agreement Jan 26th * Review final bids with Board / Special Committee Week of Jan 29th * Select final bidder, negotiate Purchase Agreement Week of Feb 5th * Colorprint announces quarterly financial results * Announce transaction Mid March * Shareholder vote

Late March / Early April * Launch Financing * Transaction Closing

Appendix A: Financial Sponsors Profiles

Bain Capital

Overview

Senior Investment Team * Headquartered in Boston, MA, Bain Capital is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets and has more than $38 billion in assets under management * Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 230 companies around the world, partnering with strong management teams to grow businesses and create operating value * Bain Capital has deep experience in a variety of industries and a team of almost 200 professionals dedicated to investing in and supporting its portfolio companies * Bain Capital is currently investing out of its ninth fund, Bain Capital Fund IX LP, which has approximately $12 billion of committed capital * In addition to Boston, the Firm has offices in Tokyo, Hong Kong, Shanghai, New York, London and Munich

Steve Pagliuca MD, Generalist Josh Bekenstein MD, Consumer Retail Paul Edgerley MD, Industrials John Connaughton            MD, Healthcare / Media Mark Nunnelly MD, Tech / Growth-Oriented Steve Zide            MD, Industrials Andrew Balson MD, Tech / Business Services / Restaurants Steve Barnes            MD, Healthcare / Portfolio Ed Conard            MD, Industrials Jordan Hitch            MD, Consumer Retail Matt Levin            MD, Consumer Retail Ian Loring            MD, TMT Phil Loughlin MD, Industrials

Notable Recent Investments Investment            Date            Size ($mm) Clear Channel Communications Inc. Pending $26,775 OSI Restaurant Partners Pending 3,200 Applied Systems            Pending NA HCA Inc. 24-Jul-2006 32,919 Michaels Stores Inc. 30-Jun-2006 6,046 Burlington Coat Factory 18-Jan-2006 2,060 Sensate Technologies (Texas Instruments) 08-Jan-2006 3,000 Dunkin Brands 12-Dec-2005 2,500

Investment            Date            Size ($mm) Susquehanna Radio Corp. 31-Oct-2005 $1,200 Accellent Inc. 10-Oct-2005 1,270 Framatome Connectors 19-Sep-2005 1,296 Fleetcor Technologies 05-Jul-2005 75 SunGard Data Systems Inc. 28-Mar-2005 11,300 Toys “R” Us Inc. 17-Mar-2005 7,000 Dollarama 19-Nov-2004 1,015 Loews Cineplex Entertainment 21-Jun-2004 1,460

Madison Dearborn Partners

Overview

Senior Investment Team * Founded in 1992, Madison Dearborn Partners (MDP) is one of the largest private equity investment firms in the U.S. * MDP specializes in management buyouts and investments in five industry sectors: — Basic Industries: forestry / paper, packaging, building products — Communications: media, wireless, and telephone system operators — Consumer: retail, restaurants, and consumer products — Financial Services: financial outsourcing, specialty finance, and banking — Healthcare: acute and ancillary care providers, medical equipment, and outsourced clinical staffing * MDP targets investments in the Americas and Europe that involve $300 million to $1 billion of equity capital * In 2006, the Company raised $6.5 billion in committed capital for Madison Dearborn Partners V * MDP is headquartered in Chicago, Illinois

John A. Canning, Jr. Chairman Paul J. Finnegan            Co-President Samuel M. Mencoff            Co-President Nicholas Alexos Managing Director Benjamin Chereskin            Managing Director Timothy Hurd            Managing Director James Perry            Managing Director Robin Selati            Managing Director Thomas Souleles Managing Director Timothy Sullivan            Managing Director

Notable Recent Investments Investment            Date            Size ($mm) Univision Communications Inc. Pending $13,510 The Yankee Candle Company            Pending 1,700 Bolthouse Farms Inc. 14-Oct-2005 1,120 Reliant Energy Inc, Three Power Plans 3-Oct-2005 $975 Sirona Dental Systems GmbH 2-May-2005 NA

Investment            Date            Size ($mm) Intelsat Ltd. 16-Aug-2004 5,000 Boise Cascade Corp, Paper Asset 26-Jul-2004 3,700 Cinemark USA Inc. 12-Mar-2004 1,550 Great Lakes Dredge & Dock Corp. 12-Nov-2003 340 Williams Energy Partners LP 21-Apr-2003 1,100

Providence Equity Partners

Overview

Senior Investment Team * Providence Equity Partners Inc. is a private investment firm specializing in equity investments in communications and media companies around the world * The principals of Providence Equity manage funds with over $9.0 billion in equity commitments, including Providence Equity Partners V, which has $4.25 billion in committed capital * Providence is in the market now with Providence Equity Partners VI, which is expected to raise $10 billion and to close in early 2007 * Since 1990, the principals of Providence Equity have invested in more than 80 companies with operations in over 20 countries * Current and previous areas of investment include wireless and wireline telephony, cable television content and distribution, publishing, radio and television broadcasting, and other media and communications sectors * Providence’s target investment size per transaction is $100 million to $1 billion — The fund’s institutional limited partners have co-invested directly in transactions that require substantially greater funding * Providence Equity currently has offices in Providence, London, and New York

Jonathan M. Nelson (Providence) CEO Glenn M. Cream(Providence) Senior Managing Director Paul J. Salem (Providence) Senior Managing Director Albert Dobron (Providence) Managing Director Michael Dominguez (Providence) Managing Director Alexander Evans (New York) Managing Director John Hahn (London) Managing Director, London Head Mark Masiello (Providence) Managing Director Jörg Mohaupt (London) Managing Director Mark Pelson (Providence) Managing Director Julie Richardson (New York) Managing Director, New York Head Gustavo Schwed (London) Managing Director Biswajit Subramanian (London) Managing Director Peter Wilde (Providence) Managing Director

Notable Recent Investments Investment            Date            Size ($mm) Idea Cellular 26-Oct-2006 NA Open Solutions Pending $1,300 Caudwell Group 6-Aug-06 2,785 Univision Communications Inc. Pending 13,510 Kerzner International Ltd. 20-Mar-06 3,800 Education Management Corp. 6-Mar-06 3,354 Kabel Deutschland GmbH & Co KG 7-Dec-05 3,750 Com Hem AB 05-Dec-2005 1,170

Investment            Date            Size ($mm) TDC A/S 30-Nov-2005 15,600 Grupo Corporativo Ono SA 29-Jul-05 $1,213 SunGard Data Systems Inc. 28-Mar-2005 11,300 Recoletos Grupo Comunicacion 14-Dec-04 1,300 Telcordia Technologies Inc 18-Nov-04 1,350 Metro-Goldwyn-Mayer Inc 13-Sep-04 4,840 PanAmSat Corp 20-Apr-2004 4,300 Warner Music Group 24-Nov-2003 $2,600

Warburg Pincus

Overview

Senior Investment Team * Founded in 1971, Warburg Pincus has invested at all stages of a company’s life cycle, from founding start-ups and providing growth capital to leading restructurings, recapitalizations and buy-outs * The firm currently has more than $10 billion under management and invests in a range of sectors including real estate, healthcare, information and communication technology, LBOs and special situations, media and business services, energy and financial services * Warburg Pincus’ real estate practice has invested $1 billion of equity across a wide range of companies across the globe, including Guangzhou R&F Properties in China, Wall Homes in the U.S. and Resolution II in the U.K. * The firm has raised 11 private equity investment funds which have invested more than $20 billion in over 525 companies in 30 countries * Currently Warburg Pincus is investing from an $8 billion fund which closed in August 2005 * Headquartered in New York, Warburg Pincus has 8 offices in North America, Europe and Asia and an active portfolio of more than 100 companies. Warburg Pincus is also one of the largest foreign private equity investors in India

Lionel Pincus Founder and Chairman John Vogelstein Vice Chairman William Janeway Vice Chairman Joe Landy            Co-President Chip Kaye            Co-President Joel Ackerman Managing Director, Healthcare Services David Coulter Managing Director, Financial Services Mark Colodny            Managing Director, Technology, Media & Telecom Jeff Harris            Managing Director, Energy Kewsong Lee            Managing Director, Consumer and Industrial Jonathan Leff Managing Director, Healthcare — Biotechnology Jim Neary            Managing Director, Technology, Media & Telecom Michael Profenius            Managing Director, Real Estate Bess Weatherman Managing Director, Healthcare Medical Devices

Notable Recent Investments Investment            Date            Size ($mm) NYFIX 13-Oct-2006 $75 Essent Kabelcom BV            Pending 3,300 Aeolus Re 27-Jul-2006 500 Casema NV 18-Jul-2006 2,655 Brandywine Senior Care 10-Jul-2006 NA Aramark Corp 01-May-2006 $7,600 Builders FirstSource Inc 06-Feb-2006 199

Investment            Date            Size ($mm) CCS Medical and MPTC Holdings Inc 03-Oct-2005 645 Neiman Marcus Group Inc 02-May-2005 5,095 Telcordia Technologies Inc 18-Nov-2004 1,350 Jarden 19-Sep-2006 350 UGS PLM Solutions 14-Mar-2004 2,050 Transdigm Inc 06-Jun-2003 1,100 World Network Services 5-Apr-2002 NA

Appendix B: Sponsor Proposals

EX-99.(C)(6)

Exhibit (c)(6)

Sponsor Information Colorprint Due Diligence 1/3/07 — 1/11/07

Goldman, Sachs & Co. 28-Dec-2006

The Carlyle Group

Overview

Senior Investment Team ? The Carlyle Group launched its first fund in 1987 and has since made more than 500 corporate and real estate investments ? Carlyle, now one of the world’s largest private investment firms, is managing Carlyle Partners IV, which has $7.85 billion in committed capital ? Carlyle invests in management-led buyouts, minority equity positions, real estate, venture capital, and leveraged finance opportunities in the aerospace & defense, automotive & transportation, consumer & retail, energy & power, healthcare, industrial, real estate, technology & business services, and telecommunications & media sectors ? The Group manages over $44 billion in capital with 42 funds across four investment disciplines (buyouts, venture & growth capital, real estate and leveraged finance) ? Carlyle is engaged in a joint venture with Riverstone to make Energy & Power investments (approximately $6 billion of equity commitments) ? Carlyle is based in Washington, D.C. and maintains offices in 16 countries

Louis V. Gerstner, Jr. Chairman Daniel A. D’Aniello            Founding Partner William E. Conway            Founding Partner David M. Rubenstein            Founding Partner W.W. (Bill) Boisture            Senior Advisor Herman H. Chang Senior Advisor Robert Coxon            Senior Advisor Richard G. Darman            Senior Advisor James H. Hance, Jr. Senior Advisor Kent Kresa            Senior Advisor Duncan Lewis            Senior Advisor Norman Pearlstine            Senior Advisor David L. Squier Senior Advisor Eliot Merrill Principal

Notable Recent Investments Investment            Date            Size ($mm) Open Solutions Pending $1,300 Freescale Semiconductor Inc. Pending 17,500 Kinder Morgan Inc. Pending 22,000 EnCana Corp, Gas Storage Business 06-Mar-2006 1,500 VNU NV 16-Jan-2006 11,000 Dunkin Brands 12-Dec-2005 2,500 Com Hem AB 05-Dec-2005 1,170 Hertz Corp. 12-Sep-2005 15,000

Investment            Date            Size ($mm) SS&C Technologies Inc. 28-Jul-2005 $947 Insight Communications Co Inc. 07-Mar-2005 2,100 Verizon, Wireline Related Business 21-May-2004 1,650 PanAmSat Corp. 20-Apr-2004 4,300 Williams Energy Partners LP 21-Apr-2003 1,100 FiatAvio Inc. 07-Apr-2003 1,700 Qwest Communications International Inc. 20-Aug-2002 7,050 Vivendi Publish, Business Publishing 18-Apr-2002 1,409

Hellman & Friedman

Overview

Senior Investment Team ? Hellman & Friedman, founded in 1984, is a private equity investment firm well respected for its distinctive investment philosophy and approach ? During its 18-year investing history, the Firm has raised and managed over $8 billion of capital and has invested in over 50 companies ? Hellman & Friedman is currently investing its fifth fund, Hellman & Friedman Capital Partners V, with $3.5 billion of committed capital. ? Hellman & Friedman is raising $8 billion for its sixth fund, Hellman & Friedman Capital Partners VI. ? The Firm looks to invest long-term equity capital to support the strategic and financial objectives of outstanding management teams operating businesses with defensible positions in growing markets ? The Group has a target investment size of $100 million — $1 billion ? Offices are located in San Francisco, London, and New York

Warren Hellman Co-Founder and Chairman Brian Powers            CEO C. Andrew Ballard            Managing Director Mitchell Cohen Managing Director Jeffrey Goldstein            Managing Director Philip Hammarskjold            Managing Director Patrick Healy Managing Director Georgia Lee            Managing Director Thomas Steyer Managing Director Allen Thorpe            Managing Director David Tunnell Managing Director Frank Zarb            Managing Director

Notable Recent Investments Investment            Date            Size ($mm) Intergraph Corp. 31-Aug-2006 $1,331 Activant Solutions Inc. 13-Mar-2006 825 VNU NV 16-Jan-2006 11,000 LPL Group 27-Oct-2005 2,500 DoubleClick Inc. 25-Apr-2005 1,100 Vertafore 23-Nov-2004 NA

Investment            Date            Size ($mm) Texas Genco Holdings Inc. 21-Jul-2004 $3,650 Delaware International Ltd. 05-May-2004 200 Arch Capital Group Limited 20-Nov-2001 250 NASDAQ 28-Mar-2001 240 Mitchell International 29-Feb-2000 NA

Providence Equity Partners

Overview

Senior Investment Team ? Providence Equity Partners Inc. is a private investment firm specializing in equity investments in communications and media companies around the world ? The principals of Providence Equity manage funds with over $9.0 billion in equity commitments, including Providence Equity Partners V, which has $4.25 billion in committed capital ? Providence is in the market now with Providence Equity Partners VI, which is expected to raise $10 billion and to close in early 2007 ? Since 1990, the principals of Providence Equity have invested in more than 80 companies with operations in over 20 countries ? Current and previous areas of investment include wireless and wireline telephony, cable television content and distribution, publishing, radio and television broadcasting, and other media and communications sectors ? Providence’s target investment size per transaction is $100 million to $1 billion — The fund’s institutional limited partners have co-invested directly in transactions that require substantially greater funding ? Providence Equity currently has offices in Providence, London, and New York

Jonathan M. Nelson (Providence) CEO Glenn M. Creamer (Providence) Senior Managing Director Paul J. Salem (Providence) Senior Managing Director Albert Dobron (Providence) Managing Director Michael Dominguez (Providence) Managing Director Alexander Evans (New York) Managing Director John Hahn (London) Managing Director, London Head Mark Masiello (Providence) Managing Director Jörg Mohaupt (London) Managing Director Mark Pelson (Providence) Managing Director Julie Richardson (New York) Managing Director, New York Head Gustavo Schwed (London) Managing Director Biswajit Subramanian (London) Managing Director Peter Wilde (Providence) Managing Director

Notable Recent Investments Investment            Date            Size ($mm) Idea Cellular 26-Oct-2006 NA Open Solutions Pending $1,300 Caudwell Group 6-Aug-06 2,785 Univision Communications Inc. Pending 13,510 Kerzner International Ltd. 20-Mar-06 3,800 Education Management Corp. 6-Mar-06 3,354 Kabel Deutschland GmbH & Co KG 7-Dec-05 3,750 Com Hem AB 05-Dec-2005 1,170

Investment            Date            Size ($mm) TDC A/S 30-Nov-2005 15,600 Grupo Corporativo Ono SA 29-Jul-05 $1,213 SunGard Data Systems Inc. 28-Mar-2005 11,300 Recoletos Grupo Comunicacion 14-Dec-04 1,300 Telcordia Technologies Inc 18-Nov-04 1,350 Metro-Goldwyn-Mayer Inc 13-Sep-04 4,840 PanAmSat Corp 20-Apr-2004 4,300 Warner Music Group 24-Nov-2003 $2,600

Texas Pacific Group

Overview

Senior Investment Team ? Founded in 1992, Texas Pacific Group (TPG) is one of the largest U.S. buyout firms with over $20 billion of capital under management ? TPG focuses on turnarounds, management-led buyouts and recapitalizations in the media and telecommunications, industrials, technology and health care businesses ? The Firm is currently investing its fifth fund, TPG Partners V, with approximately $14 billion of committed capital ? TPG has made significant investments in many important brand-name companies including Burger King, Seagate, J.Crew, Bally, and Ducati ? TPG seeks to invest in established businesses requiring equity capital between $100 million and $750 million ? Headquartered in San Francisco with offices in Fort Worth and New York

David Bonderman Founder James G. Coulter            Founder William S. Price            Founder John Marren            Partner, Technology & Telecom Justin Chang            Partner, Technology & Telecom Jonathan Coslet Partner, Generalist Kelvin Davis            Partner, Generalist Rick Schifter Partner, Generalist Stephen Peel            Partner, Europe Bryan Taylor            Partner

Notable Recent Investments Investment            Date            Size ($mm) TDF SA 11-Oct-2006 $4,140 Harrah’s Entertainment Pending 26,600 Freescale Semiconductor Inc 15-Sep-2006 $19,000 Intergraph Corp. 31-Aug-2006 1,331 Field Container Co. 18-Aug-2006 325 Aleris International Inc. 08-Aug-2006 3,307 Petco Animal Supplies Inc. 14-Jul-2006 1,800 Smurfit-Stone Container Corp, Consumer Packaging Unit 30-Jun-2006 1,040 Freescale Semiconductor Inc 15-Sep-2006 $19,000

Investment            Date            Size ($mm) Univision Communications Inc. 27-Jun-2006 13,511 LPL Group 27-Oct-2005 $2,500 Neiman Marcus Group Inc. 02-May-2005 5,095 SunGard Data Systems Inc. 28-Mar-2005 11,300 Fidelity National Information Services 08-Dec-2004 500 Metro-Goldwyn-Mayer Inc. 13-Sep-2004 4,840 Texas Genco Holdings Inc. 21-Jul-2004 3,650 Iasis Healthcare 05-May-2004 1,400 Burger King Corp. 25-Jul-2002 2,260

EX-99.(C)(7)

Exhibit (c)(7)

Presentation to Colorprint Preliminary Board Discussion Materials Goldman, Sachs & Co. February 28, 2007

Table of Contents I. Preliminary Valuation Analyses II. Preliminary Capital Structure Analyses Appendix A: Additional Information Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax t reatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

I. Preliminary Valuation Analyses Preliminary Valuation Analyses4

Illustrative Analysis at Various Prices ($ in millions, except per share data)

07-Dec-06 ¹ 20-Feb-07 ²Current Price Per Share$ 24.23$ 29.19$ 32.25$ 29.00$ 30.00$ 31.00$ 32.00$ 33.00 Premium to Current Price (26-Feb-07)(24.9)%(9.5)%0.0%(10.1)%(7.0)%(3.9)%(0.8)%2.3% Equity Value ³$ 1,142$ 1,397$ 1,559$ 1,387$ 1,440$ 1,493$ 1,546$ 1,599 Net Debt (at 31-Dec-06)6565656565656565 Enterprise Value1,2071,4621,6241,4521,5051,5581,6111,664

Premium to: 07-Dec-06 Closing Price ¹$24.230.0 %20.5 %33.1%19.7 %23.8 %27.9 %32.1 %36.2% 20-Feb-07 Closing Price ²29.19(17.0)0.010.5(0.7)2.86.29.613.1 30 Day Average28.90(16.1)1.011.60.43.87.310.714.2 90 Day Average27.32(11.3)6.918.16.29.813.517.120.8 180 Day Average27.66(12.4)5.516.64.98.512.115.719.3 52 Week High Closing Price32.58(25.6)(10.4)(1.0)(11.0)(7.9)(4.8)(1.8)1.3 EBITDA4Management / Analyst LTM — 12/31/06$147.68.2 x9.9 x11.0x9.8 x10.2 x10.6 x10.9 x11.3x LTM — 3/31/07E — Management139.68.610.511.610.410.811.211.511.9 CY2007E — Analyst Median$167.97.2 x8.7 x9.7x8.6 x9.0 x9.3 x9.6 x9.9x CY2007E — Management157.97.69.310.39.29.59.910.210.5 CY2008E — Analyst Median$183.66.6 x8.0 x8.8x7.9 x8.2 x8.5 x8.8 x9.1x CY2008E — Management175.16.98.49.38.38.68.99.29.5 EPS4 CY2007E — Analyst Median$1.4616.6 x20.0 x22.1x19.9 x20.5 x21.2 x21.9 x22.6x CY2007E — Management1.2219.924.026.523.824.625.426.327.1 CY2008E — Analyst Median$1.6814.4 x17.4 x19.2x17.3 x17.9 x18.5 x19.0 x19.6x CY2008E — Management1.4916.319.621.719.520.220.821.522.2 PEG (LT — IBES Median) CY 2007E P/E10.8 %1.5 x1.9 x2.1x1.8 x1.9 x2.0 x2.0 x2.1x CY 2008E P/E10.81.31.61.81.61.71.71.81.8

Preliminary Valuation Analyses5

Market Performance Indexed Stock Price and Forward P/E Multiple — Past Three Years Indexed Stock Price Forward P/E Multiple

Average 200% High Low Last 3Y Last 2Y Last 1Y 07-Dec-06 Current 87.6%Colorprint22.9 x 15.8 x 19.0 x 19.1 x 19.6 x 18.2 x 22.1 x Marketing Services ¹20.715.618.318.418.117.618.6 180%24x 22.1x 160%22x 20x Indexed Price 140% 26.6% 18.6x 120%Next Twelve Months P/E (x) 18x 100%16x (0.4%) 80%14x Feb- Jul- Dec- Jun- Nov- Apr- Sep- Feb-Feb- Jul- Dec- May- Oct- Mar- Aug- Jan-2004 2004 2004 2005 2005 2006 2006 2007 2004 2004 2004 2005 2005 2006 2006 2007 Daily from 26-Feb-2004 to 26-Feb-2007Daily from 26-Feb-2004 to 26-Feb-2007 ColorprintS&P 500 IndexMarketing Services ¹

Preliminary Valuation Analyses6

Market Performance Enterprise Value / LTM EBITDA — Past Three Years Average 12xHighLow Last 3Y Last 2Y Last 1Y 07-Dec-06 Current Colorprint11.1 x5.7 x8.1 x8.5 x8.8 x8.2 x 11.0 x Marketing Services ¹11.26.59.18.78.19.08.8 11.0 11x 10x 9x 8.8 x 8x 7x Enterprise Value to LTM EBITDA Multiple6x 5x 4x Feb-2004Jul-2004Dec-2004May-2005Oct-2005Apr-2006Sep-2006Feb-2007 Daily from 26-Feb-2004 to 26-Feb-2007 ColorprintMarketing Services ¹ Preliminary Valuation Analyses7

Comparison of Selected Companies ($ in millions, except per share data) Closing% ofEquityCalendarized5-Year 2007 PELTM Price 52 Week Market Enterprise Enterprise Value / EBITDAP/E Multiples ²Est. EPS to 5-Year EBITDA Company26-Feb-07 HighCap ¹Value ¹LTM ¹ 2007E ² 2008E ² 2007E2008ECAGR ² CAGR ² Margin ¹ Colorprint — Analyst Estimates$ 32.25 99 % $ 1,559$ 1,62411.0 x9.7 x8.8 x22.1 x19.2 x10.8 %2.1 x31.6 % Colorprint — Management10.39.326.521.7 Harte Hanks$ 27.88 97.3 % $ 2,200$ 2,36710.8 x10.0 x9.7 x18.6 x16.5 x10.3 %1.8 x 18.6 % Acxiom21.81 82.41,7152,4165.75.95.820.516.815.01.430.6 Valassis Communications 317.11 55.88182,17211.98.28.215.413.55.03.17.2 InfoUSA10.21 78.55688208.86.96.314.712.4NANA21.5 High97.3 %11.9 x10.0 x9.7 x20.5 x16.8 x15.0 %3.1 x 30.6 % Median80.59.87.57.217.015.010.31.820.0 Mean78.59.37.77.517.314.810.12.119.5 Low55.85.75.95.814.712.45.01.47.2

Preliminary Valuation Analyses8

Illustrative Present Value of Future Stock Price Analysis 2008E EPS Illustrative Present Value of Future Stock Price % Growth from CY 2007E1FY1 P / E AnalystManagement18.0 x19.0 x20.0 x21.0 x (11.0)%6.6 %$ 1.30$ 20.46$ 21.59$ 22.73$ 23.87 (4.1)14.81.4022.0323.2624.4825.70 CY 2008E 2.723.01.5023.6124.9226.2327.54 EPS 9.631.21.6025.1826.5827.9829.38 16.439.41.7026.7528.2429.7331.21 23.347.61.8028.3329.9031.4733.05 Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $32.25 % Growth from CY 2007E1FY1 P / E AnalystManagement18.0 x19.0 x20.0 x21.0 x (11.0)%6.6 %$ 1.30(36.6)%(33.0)%(29.5)%(26.0)% (4.1)14.81.40(31.7)(27.9)(24.1)(20.3) CY 2008E 2.723.01.50(26.8)(22.7)(18.7)(14.6) EPS 9.631.21.60(21.9)(17.6)(13.2)(8.9) 16.439.41.70(17.0)(12.4)(7.8)(3.2) 23.347.61.80(12.2)(7.3)(2.4)2.5 Preliminary Valuation Analyses9

Illustrative Present Value of Future Stock Price Analysis 2009E EPS Illustrative Present Value of Future Stock Price % Growth from CY 2008E1FY1 P / E AnalystManagement18.0 x19.0 x20.0 x21.0 x (10.7)%0.7 %$ 1.50$ 21.35$ 22.53$ 23.72$ 24.90 (4.8)7.41.6022.7724.0325.3026.56 CY 2009E 1.214.11.7024.1925.5426.8828.22 EPS 7.120.81.8025.6127.0428.4629.88 13.127.51.9027.0428.5430.0431.54 19.034.22.0028.4630.0431.6233.20 Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $32.25 % Growth from CY 2008E1FY1 P / E AnalystManagement18.0 x19.0 x20.0 x21.0 x (10.7)%0.7 %$ 1.50(33.8)%(30.1)%(26.5)%(22.8)% (4.8)7.41.60(29.4)(25.5)(21.6)(17.6) CY 2009E 1.214.11.70(25.0)(20.8)(16.7)(12.5) EPS 7.120.81.80(20.6)(16.2)(11.8)(7.3) 13.127.51.90(16.2)(11.5)(6.8)(2.2) 19.034.22.00(11.8)(6.8)(1.9)3.0 Preliminary Valuation Analyses 10

Illustrative Discounted Cash Flow Valuation Date February 28, 2007 ($ in millions, except per share data)

As of 31-December 20072008200920102011 Sales$ 506.9$ 546.2$ 595.4$ 644.9$699.2 Growth8.6 %7.8 %9.0 %8.3 %8.4 % EBIT$ 123.7$ 137.5$ 152.6$ 168.2$190.0 EBIT Margin24.4 %25.2 %25.6 %26.1 %27.2 % D&A$ 51.9$55.1$ 59.0$ 63.8$ 66.5 EBITDA175.7192.6211.6232.0256.5 EBITDA Margin34.7 %35.3 %35.5 %36.0 %36.7 % Taxes at 38%$ 47.0$52.2$ 58.0$ 63.9$ 72.2 Change in Working Capital$(12.1)$ 4.9$ 2.7$ 2.4$ 2.1 Capex54.868.867.035.055.6 Unlevered Free Cash Flow$ 61.8$76.5$ 89.3$ 135.4$130.8 Adjustment to 2007 Unlevered FCF1(10.0) Unlevered Free Cash Flow$ 51.8$76.5$ 89.3$ 135.4$130.8 Implied Share Price Terminal LTM EBITDA Multiple ²Revenue Growth ³ $ 32.77.5 x8.0 x8.5 x9.0 x9.5 x $ 31.95.0 %6.0 %7.0 %8.0 %9.0 % 10.0 %$ 30.50$ 31.96$ 33.41$ 34.84$ 36.28 34.0 %$26.08$27.33$28.59$29.89$31.23 10.5 %29.9531.3732.8034.2035.60 35.0 %26.9428.2129.5030.8332.21 11.0 %29.4030.8032.1933.5734.95 Discount Rate11.5 %28.8730.2431.6032.9634.31EBITDA Margin36.0 %27.8029.0830.4031.7733.18 12.0 %28.3529.6931.0332.3633.68 37.0 %28.6329.9431.3032.7134.14 12.5 %27.8429.1630.4631.7733.07

Preliminary Valuation Analyses11

Comparison of Selected Transactions Selected Marketing Services Transactions Since 2004 ($ in millions) Enterprise Value /Price / Date EquityEnterprise LTMForward Forward AnnouncedTargetAcquirorValue ¹Value2EBITDAEBITDA3EPS3 45 Dec-06 ADVO (after legal settlement)Valassis$ 1,061$ 1,14713.1 x10.6 x27.7 x 667 Jan-06 VNU NVValcon Acquisition9,71211,03813.112.019.5 Aug-05 NDCHealth Information ManagementWolters Kluwer NVNA38210.5810.68NA High13.1 x12.0 x27.7 x Median13.110.623.6 Mean12.211.123.6 Low10.510.619.5

Preliminary Valuation Analyses 12

Comparison of Selected Premiums 100% Cash Consideration Transactions, Last Three Years Premium Paid to: 27.6 %27.2 % 19.7 % 18.8 % 0.9 % 1 Day30-Day Average90-Day Average180-Day Average52 Week High Median Premium — 100% Cash Transactions, Last 3 Years ¹ Preliminary Valuation Analyses 13

II. Preliminary Capital Structure Analyses Preliminary Capital Structure Analyses 14

Summary of Historical and Projected Financials ($ in millions, except per share data) HistoricalCAGRManagement ProjectionsCAGR 200420052006’04 — ‘06 2007E2008E2009E2010E2011E ‘06 — ‘11 Revenue$ 417.7$ 403.8 $ 466.85.7 % $ 506.9 $ 546.2 $ 595.4 $ 644.9 $ 699.28.4 % Growth(3.3)% 15.6 %8.6 %7.8 %9.0 %8.3 %8.4 % EBITDA$ 164.2$ 137.8 $ 158.3(1.8)% $ 175.7 $ 192.6 $ 211.6 $ 232.0 $ 256.59.9 % Growth(16.1)% 14.9 %11.0 %9.6 %9.9 %9.6 % 10.6 % Margin39.3 %34.133.934.735.335.536.036.7 EBIT$ 119.8$ 101.0 $ 119.0(0.3)% $ 123.7 $ 137.5 $ 152.6 $ 168.2 $ 190.011.3 % Growth(15.7)% 17.8 %4.0 % 11.1 % 11.0 % 10.2 % 12.9 % Margin28.7 %25.025.524.425.225.626.127.2 Net Income$ 76.4$ 63.6$ 74.8(1.0)%$ 70.4$ 82.7$ 95.7 $ 106.5 $ 122.314.8 % Growth(16.8)% 17.6 %(5.8)% 17.4 % 15.7 % 11.3 % 14.8 % Weighted Avg. Diluted Shares52.450.046.646.746.7 EPS$ 1.46$ 1.27$ 1.604.7 %$ 1.51$ 1.77 Growth(12.8)% 25.6 %(5.6)% 17.4 % EPS (less FAS 123R Expense)$ 1.46$ 1.27$ 1.43(1.1)%$ 1.22$ 1.49 Growth(12.8)% 12.2 %(14.6)% 21.9 % Preliminary Capital Structure Analyses 15

Grey Page Preliminary Capital Structure Analyses 16

Illustrative Leveraged Recapitalization Analysis Assumptions Transaction Assumptions Financing Assumptions / Indicative Terms nTransaction as of 31-Mar-2007 nColorprint issues debt to fund share buyback n38% tax rate n Refinance $127.7mm of existing debt nStock price of $27.841 n Ran three scenarios: nRollover equity based buyback purchase price Issuance size $500mm $600mm $700mm Buyback Amount $365mm $463mm $562mm nFees equal to 1.5% of debt issued Purchase Premium 8.0% 10.0% 12.0% Buyback as % of Stock 25.3% 31.5% 37.4% Roll-Forward Assumptions Cost of Debt L + 150 L + 150 L + 175 nPro Forma Credit Rating BB/Ba2 BB/Ba2 2007 and 2008 based on analyst median of Bear BB-/Ba3 Stearns, Deutsche Bank, First Analysis, JP Morgan and Pro-Forma 2007 Debt / LTM Adj EBITDA 3.2x 3.9x Robert W. Baird estimates 4.5x nAssumes 10% revenue growth for 2009-2011 nAssumes constant EBITDA margin of 33% for 2009-2011 nAssumes Capex of $50mm for 2009-2011 nAssumes 2009-2011 D&A equal to Capex nAssumes pre-tax standalone interest expense of $2mm for Q1 2007 1As of 14-Feb-07, day of Q4 2006 earnings release and announcement of termination of possible transaction. Preliminary Capital Structure Analyses 17

Illustrative Leveraged Recapitalization Analysis Sensitivity Analysis ($ in millions, except per share amounts) $500mm Debt Issuance and $365mm Buyback1 (L + 150bps) $600mm Debt Issuance and $463mm Buyback ¹ (L + 150bps) IRR Sensitivity IRR Sensitivity Per Share Repurchase PricePer Share Repurchase Price 1406% $ 28.00 $ 29.00 $ 30.00 $ 31.00 $ 32.001413% $ 28.00 $ 29.00 $ 30.00 $ 31.00 $ 32.00 7.0 x11.8 %10.6 %9.4 %8.3 %7.2 %7.0 x12.5 %11.1 %9.8 %8.6 %7.4 % 2011 EBITDA Multiple 8.0 15.2 13.9 12.6 11.5 10.4 2011 EBITDA Multiple 8.0 16.1 14.7 13.3 12.1 10.9 9.0 18.2 16.8 15.6 14.4 13.3 9.0 19.4 17.9 16.5 15.2 13.9 2008 EPS Accretion / (Dilution)2008 EPS Accretion / (Dilution) Per Share Repurchase PricePer Share Repurchase Price $ 28.00 $ 29.00 $ 30.00 $ 31.00 $ 32.00$ 28.00 $ 29.00 $ 30.00 $ 31.00 $ 32.00 10.8 %13.9 %12.3 %10.9 %9.6 %8.4 %12.9 %18.4 %16.1 %14.0 %12.2 %10.5 % $700mm Debt Issuance and $562mm Buyback ¹ (L + 175bps) IRR Sensitivity Per Share Repurchase Price 1415% $ 28.00$ 29.00$ 30.00$ 31.00$ 32.00 7.0 x13.3 %11.7 %10.3 %8.9 %7.6 % 2011 EBITDA Multiple 8.0 17.3 15.6 14.1 12.7 11.4 9.0 20.8 19.1 17.5 16.0 14.7 2008 EPS Accretion / (Dilution) Per Share Repurchase Price $ 28.00$ 29.00$ 30.00$ 31.00$ 32.00 12.7 %21.8 %18.6 %15.7 %13.1 %10.8 % 1Includes refinancing of $127.7mm of existing debt and fees equal to 1.5% of debt issued. Preliminary Capital Structure Analyses 18

Illustrative Leveraged Recapitalization Analysis Potential Share Price Appreciation ($ in millions, except per share data) 2007 — Pro Forma Share Price (PV)2008 — Pro Forma Share Price (PV) Debt Issued$ 500$ 600$ 700$ 500$ 600$ 700 $1.52$ 1.52$ 1.49$ 1.86$ 1.90$ 1.89 18.0 x$ 27.29$ 27.35$ 26.8916.0 x$ 29.78$ 30.34$ 30.28 Pro Forma P/E 19.028.8128.8728.39Pro Forma P/E 17.031.6432.2332.18 20.030.3230.3929.8818.033.5034.1334.07 Appreciation from $27.84Appreciation from $27.84 18.0 x(2.0)%(1.8)%(3.4)%16.0 x7.0 %9.0 %8.8 % Pro Forma P/E 19.03.53.72.0Pro Forma P/E 17.013.615.815.6 20.08.99.27.318.020.322.622.4 Preliminary Capital Structure Analyses 19

Grey Page Preliminary Capital Structure Analyses 20

Illustrative LBO Analysis Assumes $32.00 Purchase Price Sources and Uses Sources of FundsUses of Funds AmountExpected Cost of% ofx 12/31/06x 3/31/07EAmount ($mm)RatingDebtTotal Adj. EBITDA1 Adj. EBITDA2($mm) Revolver3$ 0.0Ba3/BL + 2500.0%0.0x0.0xEquity Consideration4$ 1,545.9 1st Lien Term Loan B675.0Ba3/BL + 25039.3%4.3x4.3xExisting Debt Retired127.7 Bank Debt$ 675.039.3%4.3x4.3xTotal Purchase Price1,673.7 Senior Unsecured Notes250.0 B3/CCC+9.0%14.6%1.6x1.6xLegal / Advisory Fees12.0 Senior Debt$ 925.053.9%5.9x5.9xFinancing Costs29.8 Senior Subordinated Notes210.0 Caa1/CCC+10.5%12.2%1.3x1.3x Total Debt$ 1,135.066.2%7.2x7.3x Sponsor Equity Contribution580.433.8%3.7x3.7x Total Sources$ 1,715.4100.0%10.9x11.0xTotal Uses$ 1,715.4 Preliminary Capital Structure Analyses 21

Illustrative LBO Analysis Assumes $32.00 Purchase Price ($ in millions)

Pro FormaCY Ended December 31, ($ in millions)LTM 12/31/062007E 2008P 2009P 2010P 2011P OPERATIONAL DATA Total Sales$466.8$506.9$546.2$595.4$644.9$699.2 growth8.6%7.8%9.0%8.3%8.4% Adjusted EBITDA157.6178.1195.0214.0234.4258.9 margin33.8%35.1%35.7%35.9%36.3%37.0% Adjusted EBIT$118.4$126.1$139.9$155.0$170.6$192.4 Net Interest Expense100.099.197.795.590.884.3 Net Income (Loss) to Common11.616.826.236.949.467.0 SELECTED CASH FLOW DATA: Adjusted EBITDA$157.6$178.1$195.0$214.0$234.4$258.9 +/- Changes in Working Capital(7.5)(12.1)4.92.72.42.1 - -Total Capital Expenditures(113.8)(54.8)(68.8)(67.0)(35.0)(55.6) =Operating Cash Flow36.2111.2131.1149.7201.8205.4 - -Cash Taxes(7.0)(10.3)(16.0)(22.6)(30.3)(41.1) - -Cash Interest Expense (net)(100.0)(96.1)(94.7)(92.5)(87.9)(81.3) = Cash for Debt Service4.820.434.683.683.0 Cumulative Cash for Debt Service4.825.259.8143.3226.3 CAPITALIZATION: Cash$62.9$50.0$50.0$50.0$50.0$50.0 Revolver0.00.00.00.00.00.0 1st Lien Term Loan B675.0655.1634.7600.1516.5433.5 Total Bank Debt$675.0$655.1$634.7$600.1$516.5$433.5 Senior Unsecured Notes250.0250.0250.0250.0250.0250.0 Total Senior Debt$925.0$905.1$884.7$850.1$766.5$683.5 Senior Subordinated Notes210.0210.0210.0210.0210.0210.0 Total Debt$1,135.0$1,115.1 $1,094.7 $1,060.1$976.5$893.5 Shareholders’ Equity580.4597.2623.3660.3709.7776.7 Total Capitalization1,715.41,712.2 1,718.0 1,720.4 1,686.2 1,670.2 CREDIT STATISTICS: Adjusted EBITDA / 1st Lien Interest2.9x3.4x3.8x4.4x5.3x6.9x Adjusted EBITDA / Cash Interest1.6x1.8x2.0x2.3x2.6x3.1x Adjusted EBITDA / Total Interest1.6x1.8x2.0x2.2x2.6x3.0x (Adjusted EBITDA — Capex) / Total Interest0.4x1.2x1.3x1.5x2.2x2.4x 1st Lien Debt / Adj. EBITDA4.3x3.7x3.3x2.8x2.2x1.7x Senior Debt / Adj. EBITDA5.9x5.1x4.5x4.0x3.3x2.6x Total Debt / Adj. EBITDA7.2x6.3x5.6x5.0x4.2x3.5x Free Cash Flow / Total Debt0.0 %0.4 %1.9 %3.3 %8.6 %9.3 % Total Debt / Total Capitalization66.2 %65.1 %63.7 %61.6 %5 7.9 %53.5 %

Preliminary Capital Structure Analyses 22

Illustrative LBO Returns Returns at Various Exit Dates — Assumes Exit at 8.5x LTM EBITDA Entrance Premium to 07-Dec-2006 Stock Price 19.7 %23.8 %27.9 %32.1 %36.2 % 1960%$ 29.00$ 30.00$ 31.00$ 32.00$ 33.00 201028.0 %24.0 %20.6 %17.6 %14.8 % Exit Date201127.924.722.019.617.4 201226.023.521.219.217.4 Returns at Various Exit Multiples — Assumes Exit in 2011 Entrance Premium to 07-Dec-2006 Stock Price 19.7 %23.8 %27.9 %32.1 %36.2 % 20%$ 29.00$ 30.00$ 31.00$ 32.00$ 33.00 7.5x 22.3 %19.3 %16.7 %14.3 %12.3 % 8.0x 25.222.119.417.114.9 8.5x 27.924.722.019.617.4 2011 EBITDA Exit Multiple9.0x 30.327.124.321.919.6 9.5x 32.629.426.524.021.8 Returns at Achievement of Target EBITDA — Assumes $32.00 Purchase Price % Achievement of Management Projections 100.0 %95.0 %90.0 %85.0 % 7.5x 14.3 %11.2 %7.8 %3.8 % 8.0x 17.114.110.87.1 2011 8.5x 19.616.713.510.0 EBITDA Exit Multiple9.0x 21.919.116.112.7 9.5x 24.021.318.415.1 Preliminary Capital Structure Analyses 23

Illustrative LBO Returns Includes 15% Management Options Returns at Various Exit Dates — Assumes Exit at 8.5x LTM EBITDA Entrance Premium to 07-Dec-2006 Stock Price 19.7 %23.8 %27.9 %32.1 %36.2 % 1710%$ 29.00$ 30.00$ 31.00$ 32.00$ 33.00 201024.5 %20.8 %17.7 %15.0 %12.5 % Exit Date201124.821.819.317.115.1 201223.320.918.817.015.3 Returns at Various Exit Multiples — Assumes Exit in 2011 Entrance Premium to 07-Dec-2006 Stock Price 19.7 %23.8 %27.9 %32.1 %36.2 % 17%$ 29.00$ 30.00$ 31.00$ 32.00$ 33.00 7.5x 19.6 %16.8 %14.4 %12.3 %10.4 % 8.0x 22.319.417.014.812.8 8.5x 24.821.819.317.115.1 2011 EBITDA Exit Multiple9.0x 27.124.121.519.217.1 9.5x 29.226.223.521.219.1 Returns at Achievement of Target EBITDA — Assumes $32.00 Purchase Price % Achievement of Management Projections 100.0 %95.0 %90.0 %85.0 % 7.5x 12.3 %9.5 %6.4 %2.9 % 8.0x 14.812.19.15.8 2011 8.5x 17.114.411.68.4 EBITDA Exit Multiple9.0x 19.216.613.810.8 9.5x 21.218.716.013.0 Preliminary Capital Structure Analyses 24

Adjusted EBITDA Calculations ($ in millions) CY 2006ECY 2007E EBIT (December Actual)$ 119.0$ 123.7 Depreciation & Amortization (Dec Actl)39.351.9 EBITDA $ 158.3$ 175.6 One time items Year End Change Incremental Expense$ 0.6 Color Installation 3.8$ 0.8 Severance 1.5 Office Closure 0.9 Shareholder Settlement 0.3 $ 7.2$ 0.8 Public Co. Activities Board Fees$ 0.5$ 0.5 Legal (Board-Specific Activities) 0.6 0.6 Audit Firm Services 0.4 0.4 Internal Audit SOX 0.4 0.4 Investor Relations 0.3 0.3 Accounting Organization 0.1 0.1 Public Co. Activities$ 2.4$ 2.4 International Customer Loss$(16.4)$ n/a Net Other Cost Reductions to Offset Cust Loss6.2n/a Other Adjustments$(10.2)$ n/a Total Adjustments$(0.7)$ 3.2 Adjusted EBITDA$ 157.6$ 178.8 Preliminary Capital Structure Analyses 25

Appendix A: Additional Information Additional Information 26

Research Analysts’ Recommendations and Estimates Analyst Recommendations Evolution of Estimates1 $1.88 $2.02009E Strong $1.8 $1.49 Buy$1.6 2008E 17%$1.4 $1.2$1.46 $1.27 Buy$1.25 $1.02006A2007E 17%2005A $0.8$1.19 EPS Estimate $0.62004A Hold $0.4 67%$0.2 $0.0 Feb-2004Sep-2004Apr-2005Nov-2005Jun-2006Jan-2007 Monthly from 27-Feb-2004 to 26-Feb-2007 Recommendations: 6200420052006200720082009 Price Targets Individual Analyst Estimates Broker Estimate 34.00 Date Rating Growth Estimates Current = $32.58 $32.00 ‘06-’07E 5-Yr. CY 2007E 32.00 Bear, Stearns 14-Feb-2007 Hold 5.2 % 8.5% 1.50 Deutsche Bank 15-Feb-2007 Hold 1.7 % — 1.45 30.00 $29.00First Anal. Sec. 15-Feb-2007 Hold 3.5 % — 1.48 J.P. Morgan 21-Feb-2007 Buy 2.4 % — 1.46 28.00 Robert W. Baird 15-Feb-2007 Hold (8.8)% — 1.30 William Blair 16-Feb-2007 Strong Buy NA 13.0 NA 26.00 High 5.2 % 13.0% $1.50 Median 2.4 10.8 1.46 24.00 Robert Deutsche BankMean 0.8 10.8 1.44 BairdLow (8.8) 8.5 1.30 1Evolution of EPS estimates based on fiscal year-end March 31 estimates, estimates unadjusted for FAS123R expense. Additional Information 27

Management vs. Analyst Estimates ($ in millions, except per share data) CY 2007 Estimates EPSEBITDANet Income Avg. Shares Management$ 1.22 $ 157.9 $ 56.9 46.7 Bear, Stearns & Co.1.50 170.6 68.0 45.5 Deutsche Bank North America1.45 171.6 65.5 45.2 First Analysis Securities Corp1.48 165.3 68.2 46.2 JP Morgan1.46 NA NA NA Robert W. Baird & Co., Inc.1.30 158.5 59.7 45.8 Analyst High$ 1.50 $ 171.6 $ 68.2 46.2 Analyst Median1.46 167.9 66.8 45.6 Analyst Mean1.44 166.5 65.3 45.7 Analyst Low1.30 158.5 59.7 45.2 CY 2008 Estimates EPSEBITDANet Income Avg. Shares Management$ 1.49 $ 175.1 $ 69.4 46.7 Bear, Stearns & Co.1.72 190.4 78.4 45.5 Deutsche Bank North AmericaNA NA NA NA First Analysis Securities Corp1.64 176.0 75.5 46.0 JP Morgan1.92 NA NA NA Robert W. Baird & Co., Inc.1.60 183.6 72.0 45.0 Analyst High$ 1.92 $ 190.4 $ 78.4 46.0 Analyst Median1.68 183.6 75.5 45.5 Analyst Mean1.72 183.3 75.3 45.5 Analyst Low1.60 176.0 72.0 45.0 Additional Information 28

Management vs. Quarterly Analyst Estimates Y-o-Y Y-o-Y Q1 2007% Change ¹Q2 2007% Change ² Management$ 0.37(26.6)%$ 0.31(11.3)% Bear, Stearns & Co.0.45(10.3)0.376.9 Deutsche Bank North America0.41(18.2)0.374.4 First Analysis Securities Corp0.47(6.4)0.376.8 JP MorganNANA Robert W. Baird & Co., Inc.0.42(17.0)0.32(8.6) Analyst High$ 0.47(6.4)%$ 0.376.9 % Analyst Median0.44(13.6)0.375.6 Analyst Mean0.44(13.0)0.362.4 Analyst Low0.41(18.2)0.32(8.6) Additional Information 29

Colorprint Shares Traded at Various Prices Last 3 Months Last 6 Months Weighted Average Price: $28.76 Weighted Average Price: $28.02 12,00020,000 Total Shares Traded as Total Shares Traded 18,000 10,000 Percent of Sharesas Percent of Shares 16,000 Outstanding: 58.83%Outstanding: 93.42% 14,000 8,000 12,000 6,00010,000 Volume (000)Volume (000) 8,000 4,000 6,000 2,0004,000 2,000 00 24.2325.6227.0128.429.831.1924.2325.6227.0128.429.831.19 totototo 25.61Daily from 27-Nov-2006 to 26-Feb-200732.5825.61Daily from 28-Aug-2006 to 26-Feb-200732.58 Last 12 Months Last 24 Months Weighted Average Price: $27.28 Weighted Average Price: 60,000 60,000 Total Shares Traded$25.91 50,000 as Percent of Shares50,000Total Shares Traded Outstanding: 210.25%as Percent of Shares 40,00040,000Outstanding: 447.41% Volume (000) 30,000Volume (000) 30,000 20,00020,000 10,00010,000 00 22.1723.9125.6427.3829.1130.8421.7123.5225.3327.1528.9630.77 totototo 23.90Daily from 24-Feb-2006 to 26-Feb-200732.5823.51Daily from 25-Feb-2005 to 26-Feb-200732.58 Additional Information 30

Cost of Equity and WACC Analysis ($ in millions) 5.5% Equity Risk Premium Risk Risk-Free Premium Cost of Pre-Tax Cost of Effective Tax Current Debt Curr. Mkt. Val. of Rate1(Rp)2 Equity Beta (Be)3 Equity (K e) Debt (Kd)4Rate (t)5(D)6Equity (E)7WACC Colorprint4.63 %5.50 %1.1811.12 %6.00 %38.0 %$ 128$ 1,55910.56 % Harte Hanks4.635.500.557.666.4136.62052,2007.35 Acxiom4.635.501.2711.627.5333.57891,7159.53 Valassis4.635.500.829.146.2135.02608187.91 Advo4.635.500.788.927.1035.11271,0608.46 InfoUSA4.635.501.2311.406.0140.22605688.95 High1.2711.62 %10.56 % Median1.0010.138.70 Mean0.979.978.79 Low0.557.667.35 7.1% Equity Risk Premium Risk Risk-Free Premium Cost of Pre-Tax Cost of Effective Tax Current Debt Curr. Mkt. Val. of Rate1234Rate (t)5(D)6Equity (E)7WACC (Rp)Equity Beta (B e ) Equity (Ke) Debt (K d) Colorprint4.63 %7.10 %1.1813.01 %6.00 %38.0 %$ 128$ 1,55912.30 % Harte Hanks4.637.100.558.546.4136.62052,2008.15 Acxiom4.637.101.2713.657.5333.57891,71510.92 Valassis4.637.100.8210.456.2135.02608188.90 Advo4.637.100.7810.177.1035.11271,0609.57 InfoUSA4.637.101.2313.366.0140.226056810.30 High1.2713.65 %10.92 % Median0.8210.459.57 Mean0.9311.239.57 Low0.558.548.15 Additional Information 31

Comparison of Selected Premiums 100% Cash Consideration, Last 3 Years ($ in millions)

Premium AnnouncedTargetAcquirorEquity Value1 Day30-Day Average 90-Day Average 180-Day Average 52 Week High 02/22/07Great American Finl Res IncAmerican Financial Group Inc$ 1,1168.6 %7.9 %3.1 %16.4 %(3.5)% 02/12/07Witness Systems IncVerint Systems Inc1,07223.529.757.0113.01.7 02/05/07Mills CorpInvestor Group1,3588.424.729.63.0(46.1) 02/05/07Longview Fibre CoBrookfield Asset Mgmt Inc1,62717.814.120.417.3(8.1) 01/24/0721st Century Insurance CoAIG1,74220.912.123.633.49.5 01/02/07EGL IncInvestor Group1,48820.914.8(0.8)(28.3)(33.1) 12/20/06John H Harland CoM&F Worldwide Corp1,42118.622.342.626.22.9 12/05/06Bandag IncBridgestone/Firestone Inc1,01612.717.729.836.8(1.8) 11/30/06Digital Insight CorpIntuit Inc1,35418.223.637.526.21.5 11/16/06Conor Medsystems IncJohnson & Johnson Inc1,45923.832.130.729.510.1 11/06/06Per-Se Technologies IncMcKesson Corp1,09514.517.720.013.7(5.0) 10/31/06Banta CorpRR Donnelley & Sons Co1,30616.612.216.911.30.0 10/30/06Sirna Therapeutics IncMerck & Co Inc1,132100.2110.5138.0116.952.6 10/30/06Trustreet Properties IncGE Capital Solutions Franchise1,15115.733.837.232.517.1 10/30 /06Trammell Crow CoCB Richard Ellis Group Inc1,97128.133.939.739.719.4 10/26/06Kanbay International IncCapgemini SA1,1628.229.749.170.928.6 10/25/06Universal American FinancialInvestor Group1,1074.512.316.523.523.4 10/11/06Jacuzzi Brands IncApollo Management LP1,24010.120.332.734.712.6 10/25/06Yankee Candle Co IncMadison Dearborn Partners LLC1,72411.318.229.730.033.8 08/23/06Internet Sec Sys Group IncIBM Corp1,3034.414.731.327.427.9 08/10/06FileNet CorpIBM Corp1,5571.718.625.527.6(2.3) 07/09/06Heritage Ppty Invest Trust IncCentro Properties Group1,7533.36.1(2.1)1.1(10.2) 05/14/06SSA Global Technologies IncInfor Global Solutions1,52925.125.717.516.0(5.2) 05/01/06Aviall IncBoeing Co1,71627.326.234.741.20.1 04/27/06Diagnostic Products CorpSiemens Medical Solutions Inc1,76720.723.321.721.10.8 04/25/06Serologicals CorpMillipore Corp1,38935.332.538.141.51.2 04/20/06Ubiquitel IncSprint Nextel Corp1,0351.62.74.210.0(0.2) 01/22/06Sports Authority IncInvestor Group1,02120.021.523.720.08.4 11/20/05Beverly Enterprises In cFillmore Capital Partners LLC1,59333.36.61.61.7(7.0) 11/10/05SERENA Software IncSilver Lake Partners1,0262.716.821.019.2(1.7) 11/08/05Linens n Things IncInvestor Group1,2957.910.411.413.2(5.4) 10/24/05Amli Residential Ppty TrustPrime Property Fund1,17720.719.219.826.1(0.7) 10/16/05Adv Neuromodulations Sys IncSt Jude Medical Inc1,36930.425.132.958.413.7 09/29/05IDX Systems CorpGE Healthcare Ltd1,48825.132.038.436.01.2

Additional Information 32

Comparison of Selected Premiums (cont’d) 100% Cash Consideration, Last 3 Years ($ in millions)

Premium AnnouncedTargetAcquirorEquity Value1 Day30-Day Average 90-Day Average 180-Day Average 52 Week High 09/15/05UICIInvestor Group$ 1,71919.1 %17.0 %25.6 %29.8 %0.6 % 08/04/05Metris Cos IncHSBC Finance Corp1,5751.14.212.818.6(1.8) 07/21/05Priority Healthcare CorpExpress Scripts Inc1,2527.712.121.224.05.6 07/10/05US Unwired IncSprint Corp1,0721.514.427.234.21.5 06/16/05Vicuron Pharmaceuticals IncPfizer Inc1,91684.269.972.477.33.1 06/13/05Commercial Federal,Omaha,NEBank of the West,CA1,36734.135.028.023.611.9 06/07/05Gables Residential TrustInvestor Group1,27214.117.923.422.9(0.6) 05/16/05Overnite CorpUPS1,2204 6.239.534.530.51.2 05/12/05Cuno Inc3M Co1,29031.336.232.027.01.1 04/21/05Transkaryotic Therapies IncShire Pharmaceuticals Grp PLC1,38421.645.251.672.70.5 03/14/05Ascential Software CorpIBM Corp1,12117.818.324.732.0(22.9) 01/31/05Pulitzer IncLee Enterprises Inc1,4321.80.29.320.6(2.9) 01/27/05Genencor International IncDanisco A/S1,15123.919.019.522.10.6 11/24/04Ionics IncGE Infrastructure Inc1,07247.948.159.263.71.2 11/03/04Argosy Gaming CoPenn National Gaming Inc1,40816.417.530.232.49.7 10/20/04Boca Resorts IncBlackstone Real Estate Advisor1,03126.628.927.329.220.0 10/19/04Robert Mondavi CorpConstellation Brands Inc1,03049.948.760.160.813.8 10/18/04Select Medical CorpEGL Holding Co1,98326.634.232.823.2(8.9) 09/29/04Orbitz IncCendant Corp1,22934.541.141.426.1(10.6) 07/13/04National Processing IncBank of America Corp1,425(9.5)(7.9)8.113.5(10.1) 05/24/04NeighborCare IncOmnicare Inc1,41052.561.149.154.329.3 05/24/04WFS Financial IncWestcorp,Irvine,CA1,9403.56.19.311.9(0.7) 05/19/04ALARIS Medical Systems IncCardina l Health Inc1,74318.415.612.624.7(2.8) 05/18/04Kroll IncMarsh & McLennan Cos Inc1,95832.430.639.850.020.9 03/22/04US Oncology IncWelsh Carson Anderson & Stowe1,30218.515.926.851.7(1.8) 03/15/04InVision Technologies IncGE Infrastructure Inc1,15921.330.944.066.61.2 Median-100% Cash Transactions18.8 %19.7 %27.6 %27.2 %0.9 %

Additional Information 33

EX-99.(C)(8)

Exhibit (c)(8)

Project Colorprints PRESENTATION TO THE SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS CONFIDENTIAL FEBRUARY 28 2007

CONFIDENTIAL The information herein has been prepared by Lazard based upon information supplied by "Colorprints" (the "Company") or publicly available, and portions of the information herein may be based upon certain statements, estimates and forecasts provided by management of the Company with respect to the anticipated future performance of the Company and its businesses. We have relied upon the accuracy and completeness of the foregoing information and have not assumed any responsibility for any independent verification of such information or any independent valuation or appraisal of any of the assets or liabilities of the Company or any other entity, or concerning the solvency or fair value of the Company or any other entity. With respect to financial forecasts, we have assumed that they have been reasonably prepared on bases reflecting the best currently available estimates and judgments of management of the Company as to the future financial performance of the Company. We assume no responsibility for and express no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless otherwise indicated. We assume no responsibility for updating or revising the information contained herein based on the circumstances or events occurring after the date of these materials. These materials and the information contained herein are confidential and may not be disclosed publicly or made available to third parties without the prior written consent of Lazard; provided, that you may disclose to any and all persons the US federal income tax treatment and tax structure of the transaction described herein and the portions of these materials that relate to such tax treatment or structure. Lazard is not responsible for and is not providing to the Company any tax, accounting, actuarial, legal or other specialist advice. Our engagement and the following presentation are solely for the use and benefit of the Company's Board of Directors. Our presentation does not address the merits of the underlying decision by the Company to engage in any transaction it may be considering and the relative merits of any such transaction as compared to other business strategies that might be available. In that regard, we were not authorized to, and did not, solicit third party indications of interest in acquiring all or a part of, or engaging in a business combination or any other strategic transaction with, the Company, nor have we been involved in the negotiation of any transaction. This presentation is not intended to and does not constitute a recommendation to any holder of shares of the Company as to whether such holder should take any action with respect to such shares. Furthermore, this presentation is not intended to confer rights and remedies upon any shareholders of the Company or any other person. Lazard is acting as investment banker to the Company, and we will receive a fee for our services, and may have other engagements with the Company in the future. In addition, in the ordinary course of our business, Lazard may actively trade shares of the Company's common stock and other securities for our own account and for the accounts of our customers and, accordingly, may at any time hold a long or short position in such securities.

CONFIDENTIAL I EXECUTIVE SUMMARY 1 II ADDITIONAL VALUATION MATERIALS 1 A Discounted Cash Flow Analysis 14 B Present Value of Hypothetical Future Stock Prices 16 C Comparable Companies Analysis 17 D Precedent Transactions Analysis 19 E Leveraged Buy Out Analysis 21 F Precedent Premiums Paid Analysis 23 Appendix Appendix 23 A Break-Up Fee Analysis 27 B Colorprints Ownership Summary 28 Table of Contents Project Colorprints

I Executive Summary PROJECT COLORPRINTS

Introduction The preliminary valuation analyses presented herein are based on the following information and analyses: Calendar year 2006 financial results and management's five-year financial forecast for calendar years 2007E- 2011E Discussion and review sessions with key members of the management team on Colorprints' operations, financial performance, prospects and challenges Analysis of the industry Colorprints participates in and trends in the environment in which Colorprints operates Analysis of financial information on key competitors and/or similar publicly traded companies Analysis of selected comparable precedent transactions A leveraged buyout analysis is also presented to illustrate potential returns to a financial buyer Based on closing prices as of February 27, 2007, unless specified otherwise Certain analyses are based on Colorprints closing price on December 7, 2006, the day prior to the Company's public announcement that it was exploring a possible sale 1

Overview of Colorprints Trading Statistics ($ in millions, except per share figures) Source: Management estimates and Company filings. Note: All figures do not reflect estimated public company cost reductions. (a) Stock price before public announcement of a potential sale of the company. (b) Calculated based on share price data for the 52-week period ended February 27, 2007. (c) Reflects 46,849,568 basic shares. Includes 89,242 phantom stocks units, 18,343 unvested stocks units, 87,000 service-based restricted shares, 173,000 performance-based restricted shares and 14,343 other restricted shares. Diluted shares are calculated using the treasury stock method based on schedules provided by management. (d) Excludes stock-based compensation costs of $14.3 million and $17.8 million in 2006A and 2007E, respectively, based on management estimates. (e) Includes stock-based compensation costs of $14.3 million and $17.8 million in 2006A and 2007E, respectively for EBITDA and $10.5 million and $13.5 million in 2006A and 2007E, respectively, for net income, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 46.7 million in CY 2007E per management. 2

Colorprints Stock Price Trading History 3 Source: FactSet. Traditional Marketing Services Index includes Acxiom, Harte-Hanks, infoUSA and Valassis. Prices on specific dates represent the closing price following announcement of the event specified.

One-Year Price and Volume of Shares Traded Source: FactSet and Company filings. Note: Total volume is assigned to the average of the high and low price intraday. 4 Over the last 12 months, Colorprints' outstanding float has turned approximately 2.3 times with 74.9% of all trades between $24.00 and $30.00 per share. By comparison, Vulcan acquired its 15.5% ownership at a weighted average price of approximately $18.56 per share

Forward P/E Multiples and PEG Ratios - Three-Year Summary Source: FactSet. Note: PEG ratio defined as forward (i.e., next fiscal year's EPS estimate) P/E divided by IBES EPS long-term growth rate. 5 LT Growth Rate 10.0% 11.0% 10.0% 10.0% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5%

Summary of Selected Analysts' Price Targets ($ in millions, except per share data) Source: Bloomberg, Wall Street research and management forecast. After Q4 2006 earnings announcement, if available. Discounted using Colorprints' estimated cost of equity of 12%. Present Value of future target price target discounted back twelve months. Discontinued coverage of Colorprints on 2/7/2007. 6

Colorprints Summary Consolidated Management Forecast ($ in millions, except per share figures) Source: Management estimates. Note: All figures do not reflect estimated public company cost reductions. (a) Excludes pre-tax stock-based compensation costs of $14.3 million, $17.8 million, $17.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A, 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. (b) Includes pre-tax stock-based compensation costs of $14.3 million, $17.8 million, $17.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A, 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. (c) Includes post-tax stock-based compensation costs of $10.5 million, $13.5 million, $13.2 million, $10.8 million, $9.1 million and $8.6 million in 2006A, 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 46.7 million in CY 2007E - CY 2011E per management. 7

Comparison of Management Forecast to Wall Street Estimates ($ in millions) 8 Source: Management forecast and Wall Street estimates. Note: Wall Street consensus only includes Wall Street research that specifically adjust for SFAS 123 expenses. All figures reflect estimated SFAS 123 expenses.

Opportunities and Considerations on Colorprints 9

Valuation Methodologies 10

Preliminary Valuation Summary 11 Source: Management estimates. (a) Stock price range reflects a required estimated IRR of approximately 17.5% to 22.5% based on an exit in 2011 at an exit multiple of EBITDA and 15.0% management option pool. Assumes no synergies other than elimination of public company costs.

Process Considerations 12

Key Transaction Terms to Consider Should the Special Committee decide to proceed with Vulcan, key transaction terms it may want to consider include the following: 13 Duration of go-shop period No Vulcan right to match Break-up fee size Reverse break-up fee and size No financing out - equal/better MAC provision as other bidders Parent guarantee of equity financing and reverse break-up fee Shareholder vote requirement - majority of the minority Vulcan commitment to vote its shares given a superior offer Management ownership and value impact

II Additional Valuation Materials PROJECT COLORPRINTS

A Discounted Cash Flow Analysis PROJECT COLORPRINTS

Discounted Cash Flow Sensitivity Analysis - Summary ($ in millions, except per share data) 14 Source: Management estimates. Note: Assumes transaction closes on March 31, 2007 and mid-year convention for discount rate.

WACC Analysis ($ in millions) Source: Wall Street research and management estimates. (a) Pro-forma for Valassis/Advo transaction announced on December 19, 2006. (b) Net Debt = ST Debt & LT Debt + Minority Interest + Preferred Stock - Cash & Cash Equivalents. (c) Predicted Barra Beta. (d) Unlevered Beta = Levered Beta/[1+(1-Tax Rate)(Debt/Equity)]. (e) Risk Free Rate is 10-Year Treasury Bond Yield. (f) Represents the long-horizon expected equity risk premium based on simple differences of historical arithmetic mean returns from 1926-2005. (Ibbotson Associates' 2006 yearbook). (g) Levering Factor = [1 + (1-Tax Rate)(Debt/Equity)]. (h) Cost of Equity = (Risk Free Rate of Return)+(Levered Beta)(Equity Risk Premium). (i) Weighted Average Cost of Capital = (After-Tax Cost of Debt)(Debt/Cap.)+(Cost of Equity)(Equity/Cap.). 15

B Present Value of Hypothetical Future Stock Prices PROJECT COLORPRINTS

Present Value of Hypothetical Future Stock Prices 16 Note: Reflects projected 2009E EPS discounted back to 2/27/07 based on a cost of equity between 11% and 13%, and a forward P/E multiple between 17.0x and 21.0x. Stock Price = (EPS2009E/((1+rE)2))* forward P/E. Assumes Colorprint's cost of equity of 12% from CAPM. (a) Reflects stock-based compensation costs of $13.5 million, $13.3 million and $10.8 million in 2007E, 2008E and 2009E, respectively, based on management estimates. Reflects fully diluted shares of 46.7 million in CY 2007E - CY 2009E per management.

C Comparable Companies Analysis PROJECT COLORPRINTS

Public Market Valuation ($ in millions, except per share figures) 17 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of $17.8 million for EBITDA and $13.5 million for net income based on management estimates. Reflects fully diluted shares of 46.7 million in CY 2007E per management. (b) Represents the low and high enterprise values obtained using the average values derived from applying EBITDA multiples and EPS. (c) Reflects 46,849,568 basic shares. Includes 89,242 phantom stocks units, 18,343 unvested stocks units, 87,000 service-based restricted shares, 173,000 performance-based restricted shares and 14,343 other restricted shares. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Marketing Services Comparable Companies 18 Source: Company filings and Wall Street estimates. (a) Pro-forma for merger of Valassis and ADVO including publicly disclosed estimated synergies. (b) Pro Forma for acquisition of Opinion Research. (c) Long-Term Growth based on Management estimates for 2007E-2011E.

D Precedent Transactions Analysis PROJECT COLORPRINTS

Private Market Valuation ($ in millions, except per share figures) 19 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of $14.3 million based on management estimates. (b) Low and high multiples based on the Valassis/Advo transaction. (c) Reflects 46,849,568 basic shares. Includes 89,242 phantom stocks units, 18,343 unvested stocks units, 87,000 service-based restricted shares, 173,000 performance-based restricted shares and 14,343 other restricted shares. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Traditional Marketing Services Precedent Transactions ($ in millions) 20 Source: Based on Company filings and Wall Street equity research. Note: Reflects selected U.S. traditional marketing services transactions. LTM with/without estimated $40 million in EBITDA synergies per Valassis Investor presentation, dated July 6, 2006. LTM with/without estimated $12.5 million in EBITDA synergies per company's press release. Reflects December 31, 2004 financials. Given the differences in business models, there are few directly comparable transactions to Colorprints.

E Leveraged Buy Out Analysis PROJECT COLORPRINTS

Leveraged Buy Out Analysis: Sources and Uses 21 Source: Management estimates. Note: Debt financing assumptions based on stapled financing terms. (a) Reflects CY2006A of $157.6 million. Adjusted for one-time items of $(0.7) million, net including year-end change incremental expense of $0.6 million, color installation costs of $3.8 million, severance costs of $1.5 million, office closure costs of $0.9 million, shareholder settlement costs of $0.3 million, international customer loss of ($16.4) million, net other cost reductions to offset customer loss of $6.2 million and estimated public company costs of $2.4 million based on management estimates. (b) Reflects estimated minimum cash required of $10 million. (c) Based on EBITDA excluding stock-based compensation costs.

Leveraged Buy Out Analysis: IRR Sensitivity Analysis 22 Source: Management estimates. Note: Analysis assumes 15% management equity pool. Reflects EBITDA post SFAS 123 expenses. Assumes elimination of estimated public company costs of $2.4 million based on management estimates. 2006A EBITDA of $151.2 million. Adjusted for one-time items of $7.2 million including year-end change incremental expense of $0.6 million, color installation costs of $3.8 million, severance costs of $1.5 million, office closure costs of $0.9 million and shareholder settlement costs of $0.3 million. Reflects stock-based compensation expenses of $14.3 million based on management estimates

F Precedent Premiums Paid Analysis PROJECT COLORPRINTS

23 Premium Paid Analysis - Public Deals $1-2 Billion since 1/1/03 Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions ($ in millions) 24 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions. (a) Reflects revised offer of $33.00 per share.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 25 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 26 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Appendix PROJECT COLORPRINTS

A Break-Up Fee Analysis PROJECT COLORPRINTS

Break-Up Fee Analysis ($ in millions) Source: SDC and Bloomberg. Note: Represents 2006 to date selected transactions with equity values from $1 billion to $2 billion and for which termination fee information was available. Excludes real estate and financial institution transactions. 27

B Colorprints Ownership Summary PROJECT COLORPRINTS

Ownership Summary 28 Source:: Factset and Company filings. (a) Reflects total basic shares per Management.

Vulcan's Colorprints Ownership History ($ in millions, except per share figures) 29 Source: Factset.

EX-99.(C)(9)

Exhibit (c)(9)

CONFIDENTIAL

Project Colorprints

Presentation to Board of Directors

Goldman, Sachs & Co. March 8, 2007

CONFIDENTIAL Table of Contents I. Review of Proposed Transaction II. Financial Analysis Appendix A: Additional Information Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

CONFIDENTIAL

I. Review of Proposed Transaction

Review of Proposed Transaction 3

CONFIDENTIAL

Summary of Proposed Transaction Terms

Structure Merger of Colorprint with Merger Sub, a wholly owned subsidiary of Parent, controlled by Vulcan

Consideration $32.10 in cash for each outstanding share of Colorprint common stock —— — Total Equity Consideration1 $1,555 million —— — Aggregate Consideration2 $1,624 million —— — Equity Commitment by Vulcan Financing

Debt Commitment letter provided by Morgan Stanley and Lehman Brothers $1,190.0 million

Buyer Termination Fee $50.6 million

Payment of the lesser of $3.5 million or the aggregate amount of all reasonable and documented out-

of-pocket fees and expenses incurred in the event shareholder approval is not received except in

cases of competing transaction, in which case full termination fee may be payable Seller Termination Fee In the event of termination due to acceptance of another offer by the Company, $8.4 million, before the No Solicitation Period Start Date, $50.6 million thereafter —— —

Colorprint approval by majority of shares and majority excluding those held or affiliated with Vulcan

Regulatory approval Closing Conditions / Contingencies No material adverse change Other standard conditions —— — Termination Date            November 30, 2007 —— —

45 day go shop period, with no right to match Other Key Items No force the vote —

Based on outstanding shares of 46.1 mm, options/SARS of 7.9 mm (weighted average exercise price of $26.52), RSUs of 0.8 mm, and phantom stock of 0.1 mm. 2 Includes $68mm of Colorprint net debt as of 31-Jan-07.

Review of Proposed Transaction 4

CONFIDENTIAL

Implied Transaction Multiples

($ in millions, except per share data)

07-Dec-06 ¹ 20-Feb-07 ² Current (13-Apr-07) Hi-Liter Proposal

Price Per Share $ 24.23 $ 29.19 $ 31.55 $ 32.50 Premium to Current Price (13-Apr-07) (23.2 )% (7.5 )% 0.0 % 3.0 % Equity Value ³ $ 1,148 $ 1,404 $ 1,529 $ 1,580 Net Debt (at 31-Mar-07) 72 72 72 72 Enterprise Value 1,220 1,476 1,601 1,652 Premium to: 07-Dec-06 Closing Price ¹ $ 24.23 0.0 % 20.5 % 30.2 % 34.1 % 20-Feb-07 Closing Price ² 29.19 (17.0) 0.0 8.1 11.3 30 Day Average 31.29 (22.6) (6.7 ) 0.8 3.9 90 Day Average 29.33 (17.4) (0.5 ) 7.6 10.8 180 Day Average 28.27 (14.3) 3.3 11.6 15.0 52 Week High Closing Price 32.58 (25.6) (10.4 ) (3.2 ) (0.2 ) EBITDA4 Management / Analyst LTM — 3/31/07 $ 143.8 8.5 x 10.3 x 11.1 x 11.5 x CY2007E — Analyst Median $ 167.9 7.3 x 8.8 x 9.5 x 9.8 x CY2007E — Management5 160.9 7.6 9.2 9.9 10.3 CY2008E — Analyst Median $ 183.6 6.6 x 8.0 x 8.7 x 9.0 x CY2008E — Management 175.1 7.0 8.4 9.1 9.4 EPS4 CY2007E — Analyst Median $ 1.46 16.6 x 20.0 x 21.6 x 22.3 x CY2007E — Management 1.27 19.0 22.9 24.8 25.5 CY2008E — Analyst Median $ 1.68 14.4 x 17.4 x 18.8 x 19.3 x CY2008E — Management 1.49 16.3 19.6 21.2 21.9 PEG (LT — IBES Median) CY 2007E P/E 11.9 % 1.4 x 1.7 x 1.8 x 1.9 x CY 2008E P/E 11.9 1.2 1.5 1.6 1.6

Review of Proposed Transaction 5

CONFIDENTIAL II. Financial Analysis Financial Analysis 6

CONFIDENTIAL

Market Performance

Indexed Stock Price and Forward P/E Multiple – Past Three Years

Indexed Stock Price            Forward P/E Multiple

200% Average

High Low Last 3Y Last 2Y Last 1Y 07-Dec-06 Current

Colorprint 22.9 x 15.8 x 19.0 x 19.2 x 19.7 x 18.2 x 20.4 x Marketing Services ¹ 21.1 14.0 18.2 17.4 15.9 16.1 16.4

180%

23x

70.6%

160%

Price P/E (x) 21x Months

20.4x

Indexed 140%

19x

Twelve 120% 20.3%

17x Next 16.4x 100% 15x (6.3%) 80% 13x

Mar- Aug- Jan- Jun- Oct- Mar- Aug- Jan- Mar- Aug- Jan- Jun- Nov- Apr- Sep- Feb-2004 2004 2005 2005 2005 2006 2006 2007 2004 2004 2005 2005 2005 2006 2006 2007

Daily from 05-Mar-2004 to 07-Mar-2007

Daily from 05-Mar-2004 to 07-Mar-2007

Colorprint S&P 500 Index Marketing Services ¹

140 % 150% 130% 120% 110% 160%

Financial Analysis 7

CONFIDENTIAL

Market Performance

Enterprise Value / LTM EBITDA – Past Three Years

Average

12x            High Low Last 3Y Last 2Y Last 1Y 07-Dec-06 Current

Colorprint 11.2 x 5.7 x 8.1 x 8.5 x 8.9 x 8.2 x 10.2 x Marketing Services ¹ 10.9 7.3 9.2 8.8 8.3 8.5 8.4 11x

Multiple

10x 10.2 x

EBITDA

9x

8.4 x

8x

Value to LTM 7x Enterprise

6x

5x

4x

Mar-2004 Aug-2004 Jan-2005 Jun-2005 Nov-2005 Apr-2006 Sep-2006 Feb-2007

Daily from 05-Mar-2004 to 07-Mar-2007

Colorprint            Marketing Services ¹ Financial Analysis 8

CONFIDENTIAL

Comparison of Selected Companies

($ in millions, except per share data)

Closing      % of            Equity            Calendarized 5-Year 2007 PE            LTM Price 52 Week            Market            Enterprise            Enterprise Value / EBITDA            P/E Multiples ² Est. EPS            to 5-Year  ;           EBITDA —— — Company 13-Apr-07 High            Cap ¹ Value ¹ LTM ¹ 2007 E ²2008 E ² 2007 E 2008 ECAGR ² C AGR ² Margin ¹ —— -— —— —— —— —— —— —— —— —— —— —— —— —

Colorprint — Analyst Estimates $31.55 96.8 %$1,529 $1,601 11.1 x 9.5 x8.7 x 21.6 x 18.8 x11.9 % 1.8 x 30.9 % Colorprint — Management 9.9 9.1 24.8 21.2

—— -— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Harte Hanks $27.17 94.8 %$2,092 $2,258 10.3 x 9.6 x9.2 x 18.2 x 16.3 x10.5 % 1.7 x 18.6 % —— -— —— —— —— —— —— —— —— —— —— —— —— —

Acxiom 21.34 80.7 1,672 2,373 5.6 5.8 5.7 20.1 16.5 15.0 1.3 30.6

—— -— —— —— —— —— —— —— —— —— -— —— —— —— —— -— —

Valassis Communications 3 18.31 59.7 877 2,189 8.6 9.3 8.1 15.6 12.9 4.5 3.5 10.2

—— -— —— —— —— —— —— —— —— —— -— —— —— —— —— -— —

InfoUSA 10.14 80.3 564 817 8.7 6.8 6.3 14.6 12.3 NA            NA 21.5

—— -— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —

High 94.8 % 10.3 x 9.6 x 9.2 x20.1 x 16.5 x 15.0 % 3.5 x 30.6 % Median 80.5 8.7 8.1 7.2 16.9 14.6 10.5 1.7 20.0

Mean 78.9 8.3 7.9 7.3 17.1 14.5 10.0 2.2 20.2

Low 59.7 5.6 5.8 5.7 14.6 12.3 4.5 1.3 10.2

—— -— —— —— -— —— —— —— —— -— —

Financial Analysis 9

CONFIDENTIAL

Illustrative Present Value of Future Stock Price Analysis

2008E EPS

CY 2008E

EPS

Illustrative Present Value of Future Stock Price

% Growth from CY 2007E1 FY1 P / E —— —

Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (11.0 )% 6.6 % $ 1.30 $ 20.54 $ 21.68 $ 22.82 $ 23.96 (4.1 ) 14.8 1.40 22.12 23.35 24.58 25.81 2.7 23.0 1.50 23.70 25.02 26.34 27.65 9.6 31.2 1.60 25.28 26.69 28.09 29.50 16.4 39.4 1.70 26.86 28.35 29.85 31.34 23.3 47.6 1.80 28.44 30.02 31.60 33.18

Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $29.85

% Growth from CY 2007E1 FY1 P / E

—— —

Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x

(11.0 )% 6.6 % $1.30 (31.2 )%(27.4 )% (23.5 )% (19.7 )% (4.1 ) 14.8 1.40 (25.9 ) (21.8 ) (17.7 ) (13.5 ) 2.7 23.0 1.50 (20.6 ) (16.2 ) (11.8 ) (7.4 )

9.6 31.2 1.60 (15.3 ) (10.6 ) (5.9 ) (1.2 ) 16.4 39.4 1.70 (10.0 ) (5.0 ) (0.0 ) 5.0 23.3 47.6 1.80 (4.7 ) 0.6 5.9 11.2

Financial Analysis 10

CY 2008E

EPS

CONFIDENTIAL

Illustrative Present Value of Future Stock Price Analysis

2009E EPS

CY 2009E

EPS

CY 2009E

EPS

Illustrative Present Value of Future Stock Price

% Growth from CY 2008E1 FY1 P / E —— —

Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (10.7 )% 0.7 % $ 1.50 $ 21.46 $ 22.65 $ 23.85 $ 25.04 (4.8 ) 7.4 1.60 22.89 24.16 25.44 26.71 1.2 14.1 1.70 24.32 25.68 27.03 28.38 7.1 20.8 1.80 25.75 27.19 28.62 30.05 13.1 27.5 1.90 27.19 28.70 30.21 31.72 19.0 34.2 2.00 28.62 30.21 31.80 33.39

Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $29.85

% Growth from CY 2008E1 FY1 P / E

—— —

Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x

(10.7 )% 0.7 % $1.50 (28.1 )%(24.1 )% (20.1 )% (16.1 )% (4.8 ) 7.4 1.60 (23.3 ) (19.0 ) (14.8 ) (10.5 )

1.2 14.1 1.70 (18.5 ) (14.0 ) (9.5 ) (4.9 ) 7.1 20.8 1.80 (13.7 ) (8.9 ) (4.1 ) 0.7 13.1 27.5 1.90 (8.9 ) (3.9 ) 1.2 6.3 19.0 34.2 2.00 (4.1 ) 1.2 6.5 11.8

Financial Analysis 11

CONFIDENTIAL

Summary of Historical and Projected Financials

($in millions, except per share data) —— -— —— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— — Historical            CAGR            Management Projections            CAGR —— — 2005 2006 2004 ‘04 — ‘06 2007E 2008E 2009 E 2010 E2011E ‘07 — ‘11 —— -— —— —— -— —— —— —— —— —— —— —— —

Revenue $417.7 $403.8 $ 466.8 5.7 %$508.3 $546.2 $595.4 $644.9 $699.2 8.3 % Growth (3.3) % 15.6 % 8.9 % 7.5 % 9.0 % 8.3 % 8.4 % —— -— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— —

EBITDA $164.2 $137.8 $ 158.3 (1.8) %$179.9 $192.6 $211.6 $232.0 $256.5 9.3 % —— -— —— —— —— —— —— —— —— —— —— —— —

Growth (16.1) % 14.9 % 13.7 % 7.0 % 9.9 % 9.6 % 10.6 % Margin 39.3 % 34.1 33.9 35.4 35.3 35.5 36.0 36.7 EBIT $119.8 $101.0 $ 119.0 (0.3) %$129.2 $137.5 $152.6 $168.2 $190.0 10.1 % Growth (15.7) % 17.8 % 8.6 % 6.4 % 11.0 % 10.2 % 12.9 % Margin 28.7 % 25.0 25.5 25.4 25.2 25.6 26.1 27.2 —— -— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— -— —

Net Income $76.4 $63.6 $74.8 (1.0) % $76.0 $82.7 $ 95.7 $106.5 $122.3 12.6 % —— -— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Growth (16.8) % 17.6 % 1.7 % 8.7 % 15.7 % 11.3 % 14.8 % Weighted Avg. Diluted Shares 52.4 50.0 46.6 48.0 48.0

—— -— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— —— -— —

EPS $1.46 $1.27 $1.59 4.6 % $1.58 $1.72

—— -— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— —— -— —

Growth (12.8) % 25.5 % (0.7) % 8.7 % —— -— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

EPS (including FAS 123R Expense) $1.46 $1.27 $1.42 (1.1) % $1.27 $1.45

—— -— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— —— -— —

Growth (12.8) % 12.0 % (10.5) % 13.4 % Financial Analysis 12

CONFIDENTIAL

Illustrative Discounted Cash Flow

Valuation Date March 8, 2007

($ in millions, except per share data)

As of 31-December

2007 2008 2009 2010 2011

Sales $ 506.9 $ 546.2 $ 595.4 $ 644.9 $ 699.2 Growth 8.6 % 7.8 % 9.0 % 8.3 % 8.4 % EBIT $ 123.7 $ 137.5 $ 152.6 $ 168.2 $ 190.0 EBIT Margin 24.4 % 25.2 % 25.6 % 26.1 % 27.2 % D&A $ 51.9 $ 55.1 $ 59.0 $ 63.8 $ 66.5 EBITDA 175.7 192.6 211.6 232.0 256.5 EBITDA Margin 34.7 % 35.3 % 35.5 % 36.0 % 36.7 % Taxes at 38% $ 47.0 $ 52.2 $ 58.0 $ 63.9 $ 72.2 Change in Working Capital $ (12.1 ) $ 4.9 $ 2.7 $ 2.4 $ 2.1 Capex 54.8 68.8 67.0 35.0 55.6 Unlevered Free Cash Flow $ 61.8 $ 76.5 $ 89.3 $ 135.4 $ 130.8 Adjustment to 2007 Unlevered FCF1 (11.3 ) Unlevered Free Cash Flow $ 50.5 $ 76.5 $ 89.3 $ 135.4 $ 130.8

Illustrative Implied Share Price

Terminal LTM EBITDA Multiple ² Revenue Growth ³

$ 32.8 7.5 x 8.0 x 8.5 x 9.0 x 9.5 x

$ 32.0 5.0 % 6.0 % 7.0 % 8.0 % 9.0 %

10.0 % $ 30.38 $ 31.83 $ 33.27 $ 34.70 $ 36.13

Margin 34.0 % $ 26.10 $ 27.36 $ 28.64 $ 29.94 $ 31.29

Rate 10.5 % 29.82 31.25 32.67 34.07 35.46

11.0 % 35.0 % 26.97 28.25 29.55 30.89 32.27

Discount 29.28 30.68 32.07 33.45 34.81 EBITDA

11.5 % 28.75 30.12 31.49 32.84 34.18 36.0 % 27.83 29.12 30.45 31.83 33.24
12.0 % 28.23 29.57 30.91 32.24 33.56

37.0 % 28.67 29.99 31.36 32.77 34.20

12.5 % 27.72 29.04 30.35 31.66 32.96 Financial Analysis 13

CONFIDENTIAL

Comparison of Selected Premiums

100% Cash Consideration Transactions, Last Three Years

Premium Paid to:

27.8 % 27.4 %

20.3 % 18.6 %

1.1 %

1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High

Median Premium — 100% Cash Transactions, Last 3 Years ¹

Financial Analysis 14

CONFIDENTIAL

Comparison of Selected Transactions

Selected Marketing Services Transactions Since 2004 ($ in millions)

Enterprise Value / Price / —— — Date            Equity            Enterprise            LTM            Forward            Forward

AnnouncedTarget            Acquiror            Value ¹ Value2 EBITDA            EBITDA 3 EPS3

—— —— -— —— —— —— —— —— —— —— —— —

4 5 5 5

Dec-06ADVO (after legal settlement) Valassis $1,061 $1,147 13.1 x10.6 x 27.7 x —— —— -— —— —— —— —— —— —— —

6 6 7

Jan-06VNU NV            Valcon Acquisition 9,712 11,038 13.1 12.0 19.5

—— —— -— —— —— —— —— —— —— —— —— —

Aug-05NDCHealth Information Management            Wolters Kluwer NV            NA 382 10.58 10.68 NA —— -— —— —— —— —— —— —— —— —— —

High 13.1 x 12.0 x 27.7 x Median 13.1 10.6 23.6 Mean 12.2 11.1 23.6 Low 10.5 10.6 19.5

—— —— —— —

Financial Analysis 15

CONFIDENTIAL

Appendix A: Additional Information

Additional Information 16

CONFIDENTIAL

Cost of Equity and WACC Analysis

($ in millions)

5.5% Equity Risk Premium

Risk Risk-Free            Premium            Cost of            Pre-Tax Cost of            Effective Tax            Current Debt            Curr. Mkt. Val. o f Rate1 2 3 4 Rate (t)5 (D)6 Equity (E)7 WACC —— —— —— —— —— —— —— —

(R p) Equity Beta (Be) Equity (Ke) Debt (K d) —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Colorprint 4.50 % 5.50 % 1.18 10.99 % 5.83 % 38.0 % $123$1,436 10.40 % —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Harte Hanks 4.50 5.50 0.55 7.52 5.67 36.6 205 2,138 7.18

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Acxiom 4.50 5.50 1.27 11.48 7.10 33.5 789 1,669 9.31

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Valassis 4.50 5.50 0.82 9.01 8.77 35.0 1,390 795 6.90

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

InfoUSA 4.50 5.50 1.23 11.26 6.01 40.2 260 552 8.81

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

High 1.27 11.48 % 10.40 % Median 1.18 10.99 8.81

Mean 1.01 10.05 8.52

Low 0.55 7.52 6.90

7.1% Equity Risk Premium

—— —— —— —— —— —— —— —— —— —— —— —— —

Risk Risk-Free            Premium            Cost of            Pre-Tax Cost of            Effective Tax            Current Debt            Curr. Mkt. Val. o f Rate 1 2 3 4 Rate (t)5 (D)6 Equity (E)7 WACC

—— —— —— —— —— —— —— —

(R p) Equity Beta (Be) Equity (Ke) Debt (Kd ) —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Colorprint 4.50 % 7.10 % 1.18 12.87 % 5.83 % 38.0 % $123 $1,436 12.14 % —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Harte Hanks 4.50 7.10 0.55 8.40 5.67 36.6 205 2,138 7.98

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Acxiom 4.50 7.10 1.27 13.51 7.10 33.5 789 1,669 10.69

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

Valassis 4.50 7.10 0.82 10.32 8.77 35.0 1,390 795 7.38

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

InfoUSA 4.50 7.10 1.23 13.23 6.01 40.2 260 552 10.15

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

High 1.27 13.51 % 10.69 % Median 1.03 11.77 9.06

Mean 0.97 11.37 9.05

Low 0.55 8.40 7.38

—— —— —— —

Additional Information 17

CONFIDENTIAL

Summary of 2007 Forecast vs. Budget

($in millions, except per share data) —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— —— —— -— —— —— — Q1 2007 ¹ Q2 2007 ² Q3 2007 Q4 2007 CY 2007 —— —— -— —— —— — Actual w/o            Forecast w/o            Forecast w/o Actual            Deal Costs            Budget            Forecast            Deal Costs            Budget            Forecast    &n bsp;       Budget            Forecast            Budget            Forecast            Deal Costs            Budget —— —— —— —— —— —— —— —— —— —— —— —— —— — Revenue $123.8 $123.8 $125.6 $123.0 $123.0 $120.2 $127.4 $127.8 $134.0 $133.3 $508.3 $508.3 $506.9 % Change (1.4)% (1.4 )% 2.4 % 2.4 % (0.3)% 0.5 % 0.3 % 0.3 % —— —— —— —— —— —— —— —— —— —— -— —— —— -— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— — EBITDA $45.2 $46.6 $42.4 $ 39.6 $40.1 $38.8 $44.3 $45.3 $49.0 $49.2 $178.0 $179.9 $175.6 —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— — % Change 6.4 % 9.8 % 2.2 % 3.5 % (2.2 )% (0.5 )% 1.4 % 2.5 % Margin 36.5 37.6 33.8 32.2 32.6 32.3 34.8 35.4 36.5 36.9 35.0 35.4 34.6 EBIT $33.6 $35.0 $30.0 $ 26.9 $27.4 $25.9 $31.0 $32.0 $35.8 $35.9 $127.3 $129.2 $123.7 % Change 12.1 % 16.8 % 4.0 % 5.9 % (3.0 )% (0.4 )% 2.9 % 4.4 % Margin 27.1 28.3 23.9 21.9 22.3 21.5 24.4 25.0 26.7 27.0 25.0 25.4 24.4 —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— — Net Income $20.7 $21.6 $17.3 $ 15.5 $15.8 $14.5 $17.9 $18.1 $20.8 $20.5 $74.8 $76.0 $70.4 —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— — % Change 19.6 % 24.7 % 6.7 % 8.8 % (1.2 )% 1.4 % 6.3 % 8.0 % Weighted Avg. Diluted Shares 46.8 46.8 47.0 47.8 47.8 46.7 48.0 46.4 48.2 46.3 48.0 48.0 46.7 —— —— —— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— —— -— —— —— —— —— —— —— —— -— —— —

EPS $0.44 $0.46 $0.37 $0.32 $0.33 $0.31 $0.37 $0.39 $0.43 $0.44 $1.57 $1.58 $1.51

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

% Change 20.3 % 25.4 % 4.2 % 6.2 % (4.5) % (2.5) % 4.1 % 4.9 % —— —— —— —— —— —— —— —— —— -— —— -— —— —— —— —— —— —— —— —— —— —— —— —— —— —— -— —

EPS (w/ FAS 123R Expense) $0.37 $0.39 $0.30 $0.24 $0.25 $0.24 $0.29 $0.32 $0.35 $0.37 $1.25 $1.27 $1.22

—— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —— —

% Change 23.9 % 30.2 % 3.0 % 5.7 % (7.5) % (4.8) % 2.5 % 4.5 %

Additional Information 18

CONFIDENTIAL

Management vs. Analyst Estimates

($in millions, except per share data) [TBU] CY 2007 Estimates —— —— —— — EPS            EBITDA            Net Income            Avg. Shares —— —— —— —— —— —— —

Management $1.22 $157.9 $56.9 46.7

—— —— —— —— —— —

Bear, Stearns & Co. 1.50 170.6 68.0 45.5

—— —— —— —— —— —— —— —

Deutsche Bank North America 1.45 171.6 65.5 45.2

—— —— —— —— —— —— —— —

First Analysis Securities Corp 1.48 165.3 68.2 46.2

—— —— —— —— —— —— —— —

JP Morgan 1.46 NA            NA            NA —— —— —— —— —— —— —— —

Robert W. Baird & Co., Inc. 1.30 158.5 59.7 45.8

—— —— —— —— —— —— —— —

Analyst High $1.50 $171.6 $68.2 46.2

Analyst Median 1.46 167.9 66.8 45.6

Analyst Mean 1.44 166.5 65.3 45.7

Analyst Low 1.30 158.5 59.7 45.2

—— —— —— —— —— —

CY 2008 Estimates

—— —— —— —

EPS            EBITDA            Net Income            Avg. Shares

—— —— —— —— —— —— —

Management $1.49 $175.1 $69.4 46.7

—— —— —— —— —— —

Bear, Stearns & Co. 1.72 190.4 78.4 45.5

—— —— —— —— —— —— —— —

Deutsche Bank North America            NA            NA            NA            NA —— —— —— —— —— —— —

First Analysis Securities Corp 1.64 176.0 75.5 46.0

—— —— —— —— —— —— —— —

JP Morgan 1.92 NA            NA            NA —— —— —— —— —— —— —— —

Robert W. Baird & Co., Inc. 1.60 183.6 72.0 45.0

—— —— —— —— —— —— —— —

Analyst High $1.92 $190.4 $78.4 46.0

Analyst Median 1.68 183.6 75.5 45.5

Analyst Mean 1.72 183.3 75.3 45.5

Analyst Low 1.60 176.0 72.0 45.0

—— —— —— —— —— —

Additional Information 19

CONFIDENTIAL

Management vs. Quarterly Analyst Estimates

Y-o-Y            Y-o-Y Q1 2007 % Change ¹ Q2 2007 % Change ² —— —— —— —— —

Management $0.37 (26.6) % $0.31 (11.3) % —— —— —— —— —

Bear, Stearns & Co. 0.45 (10.3) 0.37 6.9

—— —— —— —— —— —

Deutsche Bank North America 0.41 (18.2) 0.37 4.4

—— —— —— —— —— —

First Analysis Securities Corp 0.47 (6.4) 0.37 6.8

—— —— —— —— —— —— —

JP Morgan            NA            NA —— —— —— —— —— —

Robert W. Baird & Co., Inc. 0.42 (17.0 ) 0.32 (8.6 )

Analyst High $0.47 (6.4 )%$0.37 6.9 % Analyst Median 0.44 (13.6 ) 0.37 5.6 Analyst Mean 0.44 (13.0 ) 0.36 2.4

Analyst Low 0.41 (18.2 ) 0.32 (8.6 )

Additional Information 20

CONFIDENTIAL

Illustrative Analysis at Various Prices

Premium to Average Prices Based on Ending Date of 07-Dec-06 ($ in millions, except per share data)

07-Dec-06 ¹ 20-Feb-07 ² Current (13-Apr-07) Hi-Liter Proposal

Price Per Share $ 24.23 $ 29.19 $ 31.55 $ 32.50 Premium to Current Price (13-Apr-07) (23.2 )% (7.5 )% 0.0 % 3.0 % Equity Value ³ $ 1,148 $ 1,404 $ 1,529 $ 1,580 Net Debt (at 31-Mar-07) 72 72 72 72 Enterprise Value 1,220 1,476 1,601 1,652 Premium to:4 07-Dec-06 Closing Price ¹ 24.23 $ 0.0 % 20.5 % 30.2 % 34.1 % 20-Feb-07 Closing Price ² 29.19 (17.0) 0.0 8.1 11.3 30 Day Average 24.91 (2.7) 17.2 26.7 30.5 90 Day Average 26.97 (10.1) 8.2 17.0 20.5 180 Day Average 26.84 (9.7) 8.7 17.5 21.1 52 Week High Closing Price 29.77 (18.6) (1.9 ) 6.0 9.2 EBITDA5 Management / Analyst LTM — 3/31/07 143.8 $ 8.5 x 10.3 x 11.1 x 11.5 x CY2007E — Analyst Median $ 167.9 7.3 x 8.8 x 9.5 x 9.8 x CY2007E — Management6 160.9 7.6 9.2 9.9 10.3 CY2008E — Analyst Median $ 183.6 6.6 x 8.0 x 8.7 x 9.0 x CY2008E — Management 175.1 7.0 8.4 9.1 9.4 EPS5 CY2007E — Analyst Median $ 1.46 16.6 x 20.0 x 21.6 x 22.3 x CY2007E — Management 1.27 19.0 22.9 24.8 25.5 CY2008E — Analyst Median $ 1.68 14.4 x 17.4 x 18.8 x 19.3 x CY2008E — Management 1.49 16.3 19.6 21.2 21.9 PEG (LT — IBES Median) CY 2007E P/E 11.9 % 1.4 x 1.7 x 1.8 x 1.9 x CY 2008E P/E 11.9 1.2 1.5 1.6 1.6

Additional Information 21

CONFIDENTIAL

Comparison of Selected Premiums

100% Cash Consideration, Last 3 Years ($ in millions)

Premium — Announced Target            Acquiror            Equity Value 1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High —— —— —— —— —— —— —— — 02/26/07 Hub International Ltd            Investor Group $1,604 16.0 %22.6 %27.8 % 35.9 %16.0 % —— —— —— —— —— —— —— — 02/22/07 Great American Finl Res Inc            American Financial Group Inc 1,116 8.6 7.9 3.1 16.4 (3.5) —— —— —— —— —— —— —— —— — 02/12/07 Witness Systems Inc            Verint Systems Inc 1,072 23.5 29.7 57.0 113.0 1.7 —— —— —— —— —— —— —— —— — 02/05/07 Mills Corp            Investor Group 1,358 8.4 24.7 29.6 3.0 (46.1 ) —— —— —— —— —— —— —— —— — 02/05/07 Longview Fibre Co            Brookfield Asset Mgmt Inc 1,627 17.8 14.1 20.4 17.3 (8.1) —— —— —— —— —— —— —— —— — 01/24/07 21st Century Insurance Co            AIG 1,742 20.9 12.1 23.6 33.4 9.5 —— —— —— —— —— —— —— —— — 01/02/07 EGL Inc            Investor Group 1,488 20.9 14.8 (0.8 )(28.3 )(33.1 ) —— —— —— —— —— —— —— —— — 12/20/06 John H Harland Co            M&F Worldwide Corp 1,421 18.6 22.3 42.6 26.2 2.9 —— —— —— —— —— —— —— —— — 12/05/06 Bandag Inc            Bridgestone/Firestone Inc 1,016 12.7 17.7 29.8 36.8 (1.8) —— —— —— —— —— —— —— —— — 11/30/06 Digital Insight Corp            Intuit Inc 1,354 18.2 23.6 37.5 26.2 1.5 —— —— —— —— —— —— —— —— — 11/16/06 Conor Medsystems Inc            Johnson & Johnson Inc 1,459 23.8 32.1 30.7 29.5 10.1 —— —— —— —— —— —— —— —— — 11/06/06 Per-Se Technologies Inc            McKesson Corp 1,095 14.5 17.7 20.0 13.7 (5.0) —— —— —— —— —— —— —— —— — 10/31/06 Banta Corp            RR Donnelley & Sons Co 1,306 16.6 12.2 16.9 11.3 0.0 —— —— —— —— —— —— —— —— — 10/30/06 Sirna Therapeutics Inc            Merck & Co Inc 1,132 100.2 110.5 138.0 116.9 52.6 —— —— —— —— —— —— —— —— — 10/30/06 Trustreet Properties Inc            GE Capital Solutions Franchise 1,151 15.7 33.8 37.2 32.5 17.1 —— —— —— —— —— —— —— —— —

10/30/06 Trammell Crow Co            CB Richard Ellis Group Inc 1,971 28.1 33.9 39.7 39.7 19.4

—— —— —— —— —— —— —— —— —

10/26/06 Kanbay International Inc            Capgemini SA 1,162 8.2 29.7 49.1 70.9 28.6

—— —— —— —— —— —— —— —— —

10/25/06 Universal American Financial            Investor Group 1,107 4.5 12.3 16.5 23.5 23.4

—— —— —— —— —— —— —— —— —

10/11/06 Jacuzzi Brands Inc            Apollo Management LP 1,240 10.1 20.3 32.7 34.7 12.6

—— —— —— —— —— —— —— —— —

10/25/06 Yankee Candle Co Inc            Madison Dearborn Partners LLC 1,724 11.3 18.2 29.7 30.0 33.8

—— —— —— —— —— —— —— —— —

08/23/06 Internet Sec Sys Group Inc            IBM Corp 1,303 4.4 14.7 31.3 27.4 27.9

—— —— —— —— —— —— —— —— —

08/10/06 FileNet Corp            IBM Corp 1,557 1.7 18.6 25.5 27.6 (2.3)

—— —— —— —— —— —— —— —— —

07/09/06 Heritage Ppty Invest Trust Inc            Centro Properties Group 1,753 3.3 6.1 (2.1) 1.1 (10.2)

—— —— —— —— —— —— —— —— —

05/14/06 SSA Global Technologies Inc            Infor Global Solutions 1,529 25.1 25.7 17.5 16.0 (5.2)

—— —— —— —— —— —— —— —— —

05/01/06 Aviall Inc            Boeing Co 1,716 27.3 26.2 34.7 41.2 0.1

—— —— —— —— —— —— —— —— —

04/27/06 Diagnostic Products Corp            Siemens Medical Solutions Inc 1,767 20.7 23.3 21.7 21.1 0.8

—— —— —— —— —— —— —— —— —

04/25/06 Serologicals Corp            Millipore Corp 1,389 35.3 32.5 38.1 41.5 1.2

—— —— —— —— —— —— —— —— —

04/20/06 Ubiquitel Inc            Sprint Nextel Corp 1,035 1.6 2.7 4.2 10.0 (0.2)

—— —— —— —— —— —— —— —— —

01/22/06 Sports Authority Inc            Investor Group 1,021 20.0 21.5 23.7 20.0 8.4

—— —— —— —— —— —— —— —— —

11/20/05 Beverly Enterprises Inc            Fillmore Capital Partners LLC 1,593 33.3 6.6 1.6 1.7 (7.0)

—— —— —— —— —— —— —— —— —

11/10/05 SERENA Software Inc            Silver Lake Partners 1,026 2.7 16.8 21.0 19.2 (1.7)

—— —— —— —— —— —— —— —— —

11/08/05 Linens n Things Inc            Investor Group 1,295 7.9 10.4 11.4 13.2 (5.4)

—— —— —— —— —— —— —— —— —

10/24/05 Amli Residential Ppty Trust            Prime Property Fund 1,177 20.7 19.2 19.8 26.1 (0.7)

—— —— —— —— —— —— —— —— —

10/16/05 Adv Neuromodulations Sys Inc            St Jude Medical Inc 1,369 30.4 25.1 32.9 58.4 13.7

—— —— —— —— —— —— —— —— —

09/29/05 IDX Systems Corp            GE Healthcare Ltd 1,488 25.1 32.0 38.4 36.0 1.2

Additional Information 22

CONFIDENTIAL

Comparison of Selected Premiums (cont’d)

100% Cash Consideration, Last 3 Years ($ in millions)

Premium — AnnouncedTarget            Acquiror            Equity Value 1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High —— —— —— —— —— —— —— —

09/15/05UICI            Investor Group $1,719 19.1 %17.0 % 25.6 % 29.8 % 0.6 % —— —— —— —— —— —— —— —

08/04/05Metris Cos Inc            HSBC Finance Corp 1,575 1.1 4.2 12.8 18.6 (1.8)

—— —— —— —— —— —— —— —— —

07/21/05Priority Healthcare Corp            Express Scripts Inc 1,252 7.7 12.1 21.2 24.0 5.6

—— —— —— —— —— —— —— —— —

07/10/05US Unwired Inc            Sprint Corp 1,072 1.5 14.4 27.2 34.2 1.5

—— —— —— —— —— —— —— —— —

06/16/05Vicuron Pharmaceuticals Inc            Pfizer Inc 1,916 84.2 69.9 72.4 77.3 3.1

—— —— —— —— —— —— —— —— —

06/13/05Commercial Federal,Omaha,NE            Bank of the West,CA 1,367 34.1 35.0 28.0 23.6 11.9

—— —— —— —— —— —— —— —— —

06/07/05Gables Residential Trust            Investor Group 1,272 14.1 17.9 23.4 22.9 (0.6)

—— —— —— —— —— —— —— —— —

05/16/05Overnite Corp            UPS 1,220 46.2 39.5 34.5 30.5 1.2

—— —— —— —— —— —— —— —— —

05/12/05Cuno Inc 3M Co 1,290 31.3 36.2 32.0 27.0 1.1

—— —— —— —— —— —— —— —— —

04/21/05Transkaryotic Therapies Inc            Shire Pharmaceuticals Grp PLC 1,384 21.6 45.2 51.6 72.7 0.5

—— —— —— —— —— —— —— —— —

03/14/05Ascential Software Corp            IBM Corp 1,121 17.8 18.3 24.7 32.0 (22.9)

—— —— —— —— —— —— —— —— —

01/31/05Pulitzer Inc            Lee Enterprises Inc 1,432 1.8 0.2 9.3 20.6 (2.9)

—— —— —— —— —— —— —— —— —

01/27/05Genencor International Inc            Danisco A/S 1,151 23.9 19.0 19.5 22.1 0.6

—— —— —— —— —— —— —— —— —

11/24/04Ionics Inc            GE Infrastructure Inc 1,072 47.9 48.1 59.2 63.7 1.2

—— —— —— —— —— —— —— —— —

11/03/04Argosy Gaming Co            Penn National Gaming Inc 1,408 16.4 17.5 30.2 32.4 9.7

—— —— —— —— —— —— —— —— —

10/20/04Boca Resorts Inc            Blackstone Real Estate Advisor 1,031 26.6 28.9 27.3 29.2 20.0

—— —— —— —— —— —— —— —— —

10/19/04Robert Mondavi Corp            Constellation Brands Inc 1,030 49.9 48.7 60.1 60.8 13.8

—— —— —— —— —— —— —— —— —

10/18/04Select Medical Corp            EGL Holding Co 1,983 26.6 34.2 32.8 23.2 (8.9)

—— —— —— —— —— —— —— —— —

09/29/04Orbitz Inc            Cendant Corp 1,229 34.5 41.1 41.4 26.1 (10.6)

—— —— —— —— —— —— —— —— —

07/13/04National Processing Inc            Bank of America Corp 1,425 (9.5) (7.9) 8.1 13.5 (10.1)

—— —— —— —— —— —— —— —— —

05/24/04NeighborCare Inc            Omnicare Inc 1,410 52.5 61.1 49.1 54.3 29.3

—— —— —— —— —— —— —— —— —

05/24/04WFS Financial Inc            Westcorp,Irvine,CA 1,940 3.5 6.1 9.3 11.9 (0.7)

—— —— —— —— —— —— —— —— —

05/19/04ALARIS Medical Systems Inc            Cardinal Health Inc 1,743 18.4 15.6 12.6 24.7 (2.8)

—— —— —— —— —— —— —— —— —

05/18/04Kroll Inc            Marsh & McLennan Cos Inc 1,958 32.4 30.6 39.8 50.0 20.9

—— —— —— —— —— —— —— —— —

03/22/04US Oncology Inc            Welsh Carson Anderson & Stowe 1,302 18.5

—— —— —— —— —

15.9 26.8 51.7 (1.8)

—— —— —— —

03/15/04InVision Technologies Inc            GE Infrastructure Inc 1,159 21.3 30.9 44.0 66.6 1.2

—— —— —— —— —— —— —— —— —

Median—100% Cash Transactions 18.6 % 20.3 % 27.8 % 27.4 % 1.1 %

Additional Information 23

EX-99.(C)(10)

Exhibit (c)(10)

Project Colorprints PRESENTATION TO THE SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS CONFIDENTIAL MARCH 8 2007

CONFIDENTIAL The information herein has been prepared by Lazard based upon information supplied by "Colorprints" (the "Company") or publicly available, and portions of the information herein may be based upon certain statements, estimates and forecasts provided by management of the Company with respect to the anticipated future performance of the Company and its businesses. We have relied upon the accuracy and completeness of the foregoing information and have not assumed any responsibility for any independent verification of such information or any independent valuation or appraisal of any of the assets or liabilities of the Company or any other entity, or concerning the solvency or fair value of the Company or any other entity. With respect to financial forecasts, we have assumed that they have been reasonably prepared on bases reflecting the best currently available estimates and judgments of management of the Company as to the future financial performance of the Company. We assume no responsibility for and express no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless otherwise indicated. We assume no responsibility for updating or revising the information contained herein based on the circumstances or events occurring after the date of these materials. These materials and the information contained herein are confidential and may not be disclosed publicly or made available to third parties without the prior written consent of Lazard; provided, that you may disclose to any and all persons the US federal income tax treatment and tax structure of the transaction described herein and the portions of these materials that relate to such tax treatment or structure. Lazard is not responsible for and is not providing to the Company any tax, accounting, actuarial, legal or other specialist advice. Our engagement and the following presentation are solely for the use and benefit of the Company's Board of Directors. Our presentation does not address the merits of the underlying decision by the Company to engage in any transaction it may be considering and the relative merits of any such transaction as compared to other business strategies that might be available. In that regard, we were not authorized to, and did not, solicit third party indications of interest in acquiring all or a part of, or engaging in a business combination or any other strategic transaction with, the Company. This presentation is not intended to and does not constitute a recommendation to any holder of shares of the Company as to whether such holder should take any action with respect to such shares. Furthermore, this presentation is not intended to confer rights and remedies upon any shareholders of the Company or any other person. Lazard is acting as investment banker to the Company, and we will receive a fee for our services, and may have other engagements with the Company in the future. In addition, in the ordinary course of our business, Lazard may actively trade shares of the Company's common stock and other securities for our own account and for the accounts of our customers and, accordingly, may at any time hold a long or short position in such securities.

CONFIDENTIAL I EXECUTIVE SUMMARY 1 II ADDITIONAL VALUATION MATERIALS 1 A Discounted Cash Flow Analysis 13 B Present Value of Hypothetical Future Stock Prices 15 C Comparable Companies Analysis 16 D Precedent Transactions Analysis 18 E Leveraged Buy Out Analysis 20 F Precedent Premiums Paid Analysis 22 Appendix Appendix 22 A Break-Up Fee Analysis 26 B Colorprints Ownership Summary 27 Table of Contents Project Colorprints

I Executive Summary PROJECT COLORPRINTS

Introduction: Key Terms of the Offer 1 (a) As defined in the Agreement.

Introduction: Sources of Lazard Analysis The valuation analyses presented herein are based on the following information and analyses: Calendar year 2006 financial results and management's five-year financial forecast for calendar years 2007E- 2011E including the most recent 2007 forecasts based on January actuals Discussion and review sessions with key members of the management team on Colorprints' operations, financial performance, prospects and challenges Analysis of the industry Colorprints participates in and trends in the environment in which Colorprints operates Analysis of financial information on key competitors and/or similar publicly traded companies Analysis of selected comparable precedent transactions A leveraged buyout analysis is also presented to illustrate potential returns to a financial buyer Based on closing prices as of March 7, 2007, unless specified otherwise Certain analyses are based on Colorprints closing price on December 7, 2006, the day prior to the Company's public announcement that it was exploring a possible sale 2

Overview of Colorprints Trading Statistics ($ in millions, except per share figures) Source: Management estimates and Company filings. Note: All figures do not reflect estimated public company cost reductions. (a) Stock price before public announcement of a potential sale of the company. (b) Calculated based on share price data for the 52-week period ended March 7, 2007. Reflects 46,991,643 basic shares. Includes 89,459 phantom stocks units, 18,343 unvested stocks units and 257,210 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management. Debt and cash balance as of January 31, 2007 per management. (e) Excludes stock-based compensation costs of $14.3 million and $17.8 million in 2006A (full-year pro forma) and 2007E, respectively, based on management estimates. (f) Includes stock-based compensation costs of $14.3 million and $17.8 million in 2006A (full-year pro forma) and 2007E, respectively for EBITDA and $10.5 million and $13.5 million in 2006A (full-year pro forma) and 2007E, respectively, for net income, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 46.7 million in CY 2007E per management. 3

Colorprints Stock Price Trading History 4 Source: FactSet. Traditional Marketing Services Index includes Acxiom, Harte-Hanks, infoUSA and Valassis. Prices on specific dates represent the closing price following announcement of the event specified.

One-Year Price and Volume of Shares Traded Source: FactSet and Company filings. Note: Total volume is assigned to the average of the high and low price intraday. 5 Over the last 12 months, Colorprints' outstanding float has turned approximately 2.3 times with 76.2% of all trades between $24.00 and $30.00 per share. By comparison, Vulcan acquired its 15.5% ownership at a weighted average price of approximately $18.56 per share

Forward P/E Multiples and PEG Ratios - Three-Year Summary Source: FactSet. Note: PEG ratio defined as forward (i.e., next fiscal year's EPS estimate) P/E divided by IBES EPS long-term growth rate. 6 LT Growth Rate 10.0% 11.0% 10.0% 10.0% 8.5% 8.5% 8.5% 8.5% 8.5% 7.8%

Summary of Selected Analysts' Price Targets ($ in millions, except per share data) Source: Bloomberg, Wall Street research and management forecast. After Q4 2006 earnings announcement, if available. Discounted using Colorprints' estimated cost of equity of 12%. Present Value of future target price target discounted back twelve months. Discontinued coverage of Colorprints on 2/7/2007. 7

Colorprints Summary Consolidated Management Forecast ($ in millions, except per share figures) Source: Management estimates. Note: All figures do not reflect estimated public company cost reductions. (a) Excludes pre-tax stock-based compensation costs of $14.3 million, $17.8 million, $17.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A (full-year pro forma), 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. (b) Includes pre-tax stock-based compensation costs of $14.3 million, $17.8 million, $17.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A (full-year pro forma), 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. (c) Includes post-tax stock-based compensation costs of $10.5 million, $13.5 million, $13.2 million, $10.8 million, $9.1 million and $8.6 million in 2006A (full-year pro forma), 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 46.7 million in CY 2007E - CY 2011E per management. 8

Comparison of Management Forecast to Wall Street Estimates ($ in millions) 9 Source: Management forecast and Wall Street estimates. Note: Wall Street consensus only includes Wall Street research that specifically adjust for SFAS 123 expenses. All figures reflect estimated SFAS 123 expenses.

Opportunities and Considerations on Colorprints 10

Valuation Methodologies 11

Valuation Summary 12 Source: Management estimates. (a) Stock price range reflects a required estimated IRR of approximately 17.5% to 22.5% based on an exit in 2011 at an exit multiple of EBITDA. Reflects 13.5% management equity pool excluding potential additional 2.5%-3.0% reserved for new hires. Assumes no synergies other than elimination of public company costs.

II Additional Valuation Materials PROJECT COLORPRINTS

A Discounted Cash Flow Analysis PROJECT COLORPRINTS

Discounted Cash Flow Sensitivity Analysis - Summary ($ in millions, except per share data) 13 Source: Management estimates. Note: Assumes valuation as of March 31, 2007 and mid-year convention for discount rate.

WACC Analysis ($ in millions) Source: Wall Street research and management estimates. (a) Pro-forma for Valassis/Advo transaction announced on December 19, 2006. (b) Net Debt = ST Debt & LT Debt + Minority Interest + Preferred Stock - Cash & Cash Equivalents. (c) Predicted Barra Beta. (d) Unlevered Beta = Levered Beta/[1+(1-Tax Rate)(Debt/Equity)]. (e) Risk Free Rate is 10-Year Treasury Bond Yield. (f) Represents the long-horizon expected equity risk premium based on simple differences of historical arithmetic mean returns from 1926-2005. (Ibbotson Associates' 2006 yearbook). (g) Levering Factor = [1 + (1-Tax Rate)(Debt/Equity)]. (h) Cost of Equity = (Risk Free Rate of Return)+(Levered Beta)(Equity Risk Premium). (i) Weighted Average Cost of Capital = (After-Tax Cost of Debt)(Debt/Cap.)+(Cost of Equity)(Equity/Cap.). 14

B Present Value of Hypothetical Future Stock Prices PROJECT COLORPRINTS

Present Value of Hypothetical Future Stock Prices 15 Note: Reflects projected 2009E EPS discounted back to 3/7/07 based on a cost of equity between 11% and 13%, and a forward P/E multiple between 17.0x and 21.0x. Stock Price = (EPS2009E/((1+rE)2))* forward P/E. Assumes Colorprint's cost of equity of 12% from CAPM. (a) Reflects stock-based compensation costs of $13.5 million, $13.3 million and $10.8 million in 2007E, 2008E and 2009E, respectively, based on management estimates. Reflects fully diluted shares of 46.7 million in CY 2007E - CY 2009E per management.

C Comparable Companies Analysis PROJECT COLORPRINTS

Public Market Valuation ($ in millions, except per share figures) 16 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of $17.8 million for EBITDA and $13.5 million for net income based on management estimates. Reflects fully diluted shares of 46.7 million in CY 2007E per management. (b) Represents the low and high enterprise values obtained using the average values derived from applying EBITDA multiples and EPS. (c) Reflects 46,991,643 basic shares. Includes 89,459 phantom stocks units, 18,343 unvested stocks units and 257,210 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Marketing Services Comparable Companies 17 Source: Company filings and Wall Street estimates. (a) Pro-forma for merger of Valassis and ADVO including publicly disclosed estimated synergies. (b) Pro Forma for acquisition of Opinion Research. (c) Long-Term Growth based on Management estimates for 2007E-2011E.

D Precedent Transactions Analysis PROJECT COLORPRINTS

Private Market Valuation ($ in millions, except per share figures) 18 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of $14.3 million and $17.8 million in 2006A (full-year pro forma) and 2007E respectively, based on management estimates. (b) Low and high multiples based on the Valassis/Advo transaction. (c) Reflects 46,991,643 basic shares. Includes 89,459 phantom stocks units, 18,343 unvested stocks units and 257,210 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Traditional Marketing Services Precedent Transactions ($ in millions) 19 Source: Based on Company filings and Wall Street equity research. Note: Reflects selected U.S. traditional marketing services transactions. LTM with/without estimated $40 million in EBITDA synergies per Valassis Investor presentation, dated July 6, 2006. LTM with/without estimated $12.5 million in EBITDA synergies per company's press release. Reflects December 31, 2004 financials. Given the differences in business models, there are few directly comparable transactions to Colorprints.

E Leveraged Buy Out Analysis PROJECT COLORPRINTS

Leveraged Buy Out Analysis: Sources and Uses 20 Source: Management estimates. (a) Reflects CY2006A of $157.6 million. Adjusted for one-time items of $(0.7) million, net including year-end change incremental expense of $0.6 million, color installation costs of $3.8 million, severance costs of $1.5 million, office closure costs of $0.9 million, shareholder settlement costs of $0.3 million, international customer loss of ($16.4) million, net other cost reductions to offset customer loss of $6.2 million and estimated public company costs of $2.4 million based on management estimates. Debt and cash balance as of January 31, 2007 per management. Reflects estimated minimum cash required of $10 million. Adjusted for 2007 Directors Long Term Incentive award, of approximately $6.2 million. (c) Based on EBITDA excluding stock-based compensation costs.

Leveraged Buy Out Analysis: IRR Sensitivity Analysis 21 Source: Management estimates. Note: Analysis assumes management equity pool of 13.5%. Reflects CY2006A of $157.6 million. Adjusted for one-time items of $(0.7) million, net including year-end change incremental expense of $0.6 million, color installation costs of $3.8 million, severance costs of $1.5 million, office closure costs of $0.9 million, shareholder settlement costs of $0.3 million, international customer loss of ($16.4) million, net other cost reductions to offset customer loss of $6.2 million and estimated public company costs of $2.4 million based on management estimates. Reflects EBITDA post SFAS 123 expenses. Assumes elimination of estimated public company costs of $2.4 million based on management estimates.

F Precedent Premiums Paid Analysis PROJECT COLORPRINTS

22 Premium Paid Analysis - Public Deals $1-2 Billion since 1/1/03 Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions ($ in millions) 23 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions. (a) Reflects revised offer of $33.00 per share.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 24 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 25 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Appendix PROJECT COLORPRINTS

A Break-Up Fee Analysis PROJECT COLORPRINTS

Break-Up Fee Analysis ($ in millions) Source: SDC and Bloomberg. Note: Represents 2006 to date selected transactions with equity values from $1 billion to $2 billion and for which termination fee information was available. Excludes real estate and financial institution transactions. 26

B Colorprints Ownership Summary PROJECT COLORPRINTS

Ownership Summary 27 Source: Factset and Company filings. (a) Reflects total basic shares per Management.

Vulcan's Colorprints Ownership History ($ in millions, except per share figures) 28 Source: Factset.

EX-99.(C)(11)

Exhibit (C)(11)

Project Colorprints PRESENTATION TO THE SPECIAL COMMITTEE OF THE BOARD OF DIRECTORS CONFIDENTIAL APRIL 17 2007

CONFIDENTIAL The information herein has been prepared by Lazard based upon information supplied by "Colorprints" (the "Company") or publicly available, and portions of the information herein may be based upon certain statements, estimates and forecasts provided by management of the Company with respect to the anticipated future performance of the Company and its businesses. We have relied upon the accuracy and completeness of the foregoing information and have not assumed any responsibility for any independent verification of such information or any independent valuation or appraisal of any of the assets or liabilities of the Company or any other entity, or concerning the solvency or fair value of the Company or any other entity. With respect to financial forecasts, we have assumed that they have been reasonably prepared on bases reflecting the best currently available estimates and judgments of management of the Company as to the future financial performance of the Company. We assume no responsibility for and express no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless otherwise indicated. We assume no responsibility for updating or revising the information contained herein based on the circumstances or events occurring after the date of these materials. These materials and the information contained herein are confidential and may not be disclosed publicly or made available to third parties without the prior written consent of Lazard; provided, that you may disclose to any and all persons the US federal income tax treatment and tax structure of the transaction described herein and the portions of these materials that relate to such tax treatment or structure. Lazard is not responsible for and is not providing to the Company any tax, accounting, actuarial, legal or other specialist advice. Our engagement and the following presentation are solely for the use and benefit of the Special Committee of the Company's Board of Directors. Our presentation does not address the merits of the underlying decision by the Company to engage in any transaction it may be considering and the relative merits of any such transaction as compared to other business strategies that might be available. This presentation is not intended to and does not constitute a recommendation to any holder of shares of the Company as to whether such holder should take any action with respect to such shares. Furthermore, this presentation is not intended to confer rights and remedies upon any shareholders of the Company or any other person. Lazard is acting as investment banker to the Company, and we will receive a fee for our services, and may have other engagements with the Company in the future. In addition, in the ordinary course of our business, Lazard may actively trade shares of the Company's common stock and other securities for our own account and for the accounts of our customers and, accordingly, may at any time hold a long or short position in such securities.

CONFIDENTIAL I EXECUTIVE SUMMARY 1 II ADDITIONAL VALUATION MATERIALS 1 A Discounted Cash Flow Analysis 13 B Present Value of Hypothetical Future Stock Prices 15 C Comparable Companies Analysis 16 D Precedent Transactions Analysis 18 E Precedent Premiums Paid Analysis 20 Appendix Appendix 20 A Break-Up Fee Analysis 24 B Colorprints Ownership Summary 25 Table of Contents Project Colorprints

I Executive Summary PROJECT COLORPRINTS

Introduction: Key Terms of the Offer 1

Introduction: Sources of Lazard Analysis The valuation analyses presented herein are based on the following information and analyses: Calendar year 2006 financial results and management's five-year financial forecast for calendar years 2007E- 2011E including the most recent 2007 forecasts based on Q1 FY07 actuals Discussion and review sessions with key members of the management team on Colorprints' operations, financial performance, prospects and challenges Analysis of the industry Colorprints participates in and trends in the environment in which Colorprints operates Analysis of financial information on key competitors and/or similar publicly traded companies Analysis of selected comparable precedent transactions Based on closing prices as of April 16, 2007, unless specified otherwise Certain analyses are based on Colorprints closing price on December 7, 2006, the day prior to the Company's public announcement that it was exploring a possible sale 2

Overview of Colorprints Trading Statistics ($ in millions, except per share figures) Source: Management estimates and Company filings. Note: All figures do not reflect estimated public company cost reductions. (a) Stock price before public announcement of a potential sale of the company. (b) Calculated based on share price data for the 52-week period ended April 16, 2007. Reflects 47,111,874 basic shares. Includes 92,591 phantom stocks units, 18,343 unvested stocks units, 18,500 ESPP shares and 832,320 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management. Debt and cash balance as of March 31, 2007 per management. (e) Excludes stock-based compensation costs of approximately $14.3 million and $19.0 million in 2006A (full-year pro forma) and 2007E (assuming tax rate of approximately 22% based on Q1 2007 actual), respectively, based on management estimates. Excludes pre-tax and post-tax deal costs of $1.9 million and $1.2 million respectively. (f) Includes stock-based compensation costs of approximately $14.3 million and $19.0 million in 2006A (full-year pro forma) and 2007E (assuming tax rate of approximately 22% based on Q1 2007 actual), respectively for EBITDA and approximately $10.5 million and $14.8 million in 2006A (full-year pro forma) and 2007E, respectively, for net income, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 48.0 million in CY 2007E per management. Excludes pre-tax and post-tax deal costs of $1.9 million and $1.2 million respectively. 3

Colorprints Stock Price Trading History 4 Source: FactSet. Traditional Marketing Services Index includes Acxiom, Harte-Hanks, infoUSA and Valassis. Prices on specific dates represent the closing price following announcement of the event specified.

One-Year Price and Volume of Shares Traded Source: FactSet and Company filings. Note: Total volume is assigned to the average of the high and low price intraday. 5 Over the last 12 months, Colorprints' outstanding float has turned approximately 2.3 times with 74.9% of all trades between $24.00 and $30.00 per share

Forward P/E Multiples and PEG Ratios - Three-Year Summary Source: FactSet. Note: PEG ratio defined as forward (i.e., next fiscal year's EPS estimate) P/E divided by IBES EPS long-term growth rate. 6 LT Growth Rate 10.0% 11.0% 10.0% 10.0% 8.5% 8.5% 8.5% 9.0% 8.7% 10.8%

Summary of Selected Analysts' Price Targets ($ per share) Source: Bloomberg, Wall Street research and management forecast. Future price target before announcement of ValueAct transaction discounted using Colorprints' estimated cost of equity of 12%. Present Value of future target price target discounted back twelve months. Discontinued coverage of Colorprints on 2/7/2007. 7

Colorprints Summary Consolidated Management Forecast ($ in millions, except per share figures) Source: Management estimates. Note: All figures do not reflect estimated public company cost reductions. (a) Excludes pre-tax stock-based compensation costs of approximately $14.3 million, $19.0 million, $18.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A (full-year pro forma), 2007E (assuming tax rate of approximately 22% based on Q1 2007 actual), 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. Excludes pre-tax deal costs of $1.9 million. (b) Includes pre-tax stock-based compensation costs of approximately $14.3 million, $19.0 million, $18.5 million, $14.3 million, $11.9 million and $11.6 million in 2006A (full-year pro forma), 2007E (assuming tax rate of approximately 22% based on Q1 2007 actual), 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. Excludes pre-tax deal costs of $1.9 million. (c) Includes post-tax stock-based compensation costs of approximately $10.5 million, $14.8 million, $13.2 million, $10.8 million, $9.1 million and $8.6 million in 2006A (full-year pro forma), 2007E, 2008E, 2009E, 2010E and 2011E, respectively, based on management estimates. Reflects fully diluted shares of 46.8 million in CY 2006A and 48.0 million in CY 2007E - - CY 2011E based on management estimates. Excludes post-tax deal costs of $1.2 million. 8

Comparison of Management Forecast to Wall Street Estimates ($ in millions) 9 Source: Management forecast and Wall Street estimates. Note: Wall Street consensus only includes Wall Street research that specifically adjust for SFAS 123 expenses. All figures reflect estimated SFAS 123 expenses.

Opportunities and Considerations on Colorprints 10

Valuation Methodologies 11

Valuation Summary 12 Source: Based on Management estimates.

II Additional Valuation Materials PROJECT COLORPRINTS

A Discounted Cash Flow Analysis PROJECT COLORPRINTS

Discounted Cash Flow Sensitivity Analysis - Summary ($ in millions, except per share data) 13 Source: Management estimates. Note: Assumes valuation as of March 31, 2007 and mid-year convention for discount rate.

WACC Analysis ($ in millions) Source: Wall Street research and management estimates. (a) Pro-forma for Valassis/Advo transaction announced on December 19, 2006. (b) Net Debt = ST Debt & LT Debt + Minority Interest + Preferred Stock - Cash & Cash Equivalents. (c) Predicted Barra Beta. (d) Unlevered Beta = Levered Beta/[1+(1-Tax Rate)(Debt/Equity)]. (e) Risk Free Rate is 10-Year Treasury Bond Yield. (f) Represents the long-horizon expected equity risk premium based on simple differences of historical arithmetic mean returns from 1926-2005. (Ibbotson Associates' 2006 yearbook). (g) Levering Factor = [1 + (1-Tax Rate)(Debt/Equity)]. (h) Cost of Equity = (Risk Free Rate of Return)+(Levered Beta)(Equity Risk Premium). (i) Weighted Average Cost of Capital = (After-Tax Cost of Debt)(Debt/Cap.)+(Cost of Equity)(Equity/Cap.). 14

B Present Value of Hypothetical Future Stock Prices PROJECT COLORPRINTS

Present Value of Hypothetical Future Stock Prices 15 Note: Reflects projected 2009E EPS discounted back to 4/16/07 based on a cost of equity between 11% and 13%, and a forward P/E multiple between 17.0x and 21.0x. Stock Price = (EPS2009E/((1+rE)2))* forward P/E. Assumes Colorprint's cost of equity of 12% from CAPM. (a) Reflects stock-based compensation costs of approximately $14.8 million, $13.3 million and $10.8 million in 2007E, 2008E and 2009E, respectively, based on management estimates. Reflects fully diluted shares of 48.0 million in CY 2007E - CY 2009E based on management estimates.

C Comparable Companies Analysis PROJECT COLORPRINTS

Public Market Valuation ($ in millions, except per share figures) 16 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of approximately $19.0 million for EBITDA (assuming tax rate of approximately 22% based on Q1 2007 actual) and $14.8 million for net income based on management estimates. Reflects fully diluted shares of 48.0 million in CY 2007E per management. (b) Represents the low and high enterprise values obtained using the average values derived from applying EBITDA multiples and EPS. (c) Reflects 47,111,874 basic shares. Includes 92,591 phantom stocks units, 18,343 unvested stocks units, 18,500 ESPP shares and 832,320 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Marketing Services Comparable Companies 17 Source: Company filings and Wall Street estimates. (a) Pro-forma for merger of Valassis and ADVO including publicly disclosed estimated synergies. (b) Pro Forma for acquisition of Opinion Research. (c) Long-Term Growth based on Management estimates for 2007E-2011E.

D Precedent Transactions Analysis PROJECT COLORPRINTS

Private Market Valuation ($ in millions, except per share figures) 18 Source: Management estimates, Company filings and Wall Street research reports. (a) Reflects stock-based compensation costs of approximately $14.3 million and $19.0 million in 2006A (full-year pro forma) and 2007E (assuming tax rate of approximately 22% based on Q1 2007 actual) respectively, based on management estimates. (b) Low and high multiples based on the Valassis/Advo transaction. (c) Reflects 47,111,874 basic shares. Includes 92,591 phantom stocks units, 18,343 unvested stocks units, 18,500 ESPP shares and 832,320 restricted shares per management. Diluted shares are calculated using the treasury stock method based on schedules provided by management.

Selected Traditional Marketing Services Precedent Transactions ($ in millions) 19 Source: Based on Company filings and Wall Street equity research. Note: Reflects selected U.S. traditional marketing services transactions. LTM with/without estimated $40 million in EBITDA synergies per Valassis Investor presentation, dated July 6, 2006. LTM with/without estimated $12.5 million in EBITDA synergies per company's press release. Reflects December 31, 2004 financials. Given the differences in business models, there are few directly comparable transactions to Colorprints.

E Precedent Premiums Paid Analysis PROJECT COLORPRINTS

20 Premium Paid Analysis - Public Deals $1-2 Billion since 1/1/03 Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions ($ in millions) 21 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions. (a) Reflects revised offer of $33.00 per share.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 22 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Premium Paid Analysis - All Cash Transactions (cont'd) ($ in millions) 23 Financial Sponsor Transactions Source: SDC. Note: Based on selected public U.S. all cash transactions with transaction values between $1 billion and $2 billion since 2003. Excludes real-estate and financial institution transactions.

Appendix PROJECT COLORPRINTS

A Break-Up Fee Analysis PROJECT COLORPRINTS

Break-Up Fee Analysis ($ in millions) Source: SDC and Bloomberg. Note: Represents 2006 to date selected transactions with equity values from $1 billion to $2 billion and for which termination fee information was available. Excludes real estate and financial institution transactions. 24

B Colorprints Ownership Summary PROJECT COLORPRINTS

Ownership Summary 25 Source: Factset and Company filings. (a) Reflects total basic shares per Management.

EX-99.(C)(12)

Exhibit (c)(12)

CONFIDENTIAL Project Colorprints Presentation to Board of Directors Goldman, Sachs & Co. April 17, 2007

CONFIDENTIAL Table of Contents I. Review of Proposed Transaction II. Financial Analysis Appendix A: Additional Information Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

CONFIDENTIAL I. Review of Proposed Transaction            Review of Proposed Transaction 3

CONFIDENTIAL Summary of Proposed Transaction Terms Structure Merger of Colorprint with Merger Sub, a wholly owned subsidiary of Parent, controlled by HiLiter Consideration $32.50 in cash for each outstanding share of Colorprint common stock Total Equity Consideration ¹ $1,580 million Aggregate Consideration ² $1,711 million Equity Commitment by HiLiter Financing Debt Commitment letter provided by Bear Stearns and Morgan Stanley of $1,150 million excluding $100 million and $75 million credit facilities respectively Buyer Termination Fee $50.6 million (3.0% of aggregate consideration) Payment of the lesser of $3.5 million or the aggregate amount of all reasonable and documented out of-pocket fees and expenses incurred in the event shareholder approval is not received, other than in Seller Termination Fee the case of a competing transaction $50.6 million in all other cases (3.0% of aggregate consideration) Colorprint approval by majority of shares Regulatory approval Closing Conditions / Contingencies No material adverse change Other standard conditions Termination Date November 30, 2007 ¹ Based on outstanding shares of 46.0 mm, options/SARS of 7.7 mm (weighted average exercise price of $26.51), RSUs of 0.8 mm, new ESPP of 0.02mm and phantom stock of 0.1 mm. ² Includes $131 mm of Colorprint debt as of 31-Mar-07. Review of Proposed Transaction 4

CONFIDENTIAL Structure Merger of Colorprint with Merger Sub, a wholly owned subsidiary of Parent, controlled by HiLiter Consideration $32.50 in cash for each outstanding share of Colorprint common stock Opportunity to match No go shop period Other Key Items No financing out Fiduciary out for superior offer            Review of Proposed Transaction 5

COFIDENTIAL Implied Transaction Multiples ($ in millions, except per share data) 07-Dec-06 ¹ 20-Feb-07 ² Current (13-Apr-07) Hi-Liter Proposal Price Per Share $ 24.23 $ 29.19 $ 31.55 $ 32.50 Premium to Current Price (13-Apr-07) (23.2)% (7.5)% 0.0 % 3.0 % Equity Value ³ $ 1,148 $ 1,404 $ 1,529 $ 1,580 Net Debt (at 31-Mar-07) 72 72 72 72 Enterprise Value 1,220 1,476 1,601 1,652 Premium to: 07-Dec-06 Closing Price ¹ $ 24.23 0.0 % 20.5 % 30.2 % 34.1 % 20-Feb-07 Closing Price ² 29.19 (17.0) 0.0 8.1 11.3 30 Day Average 31.29 (22.6) (6.7) 0.8 3.9 90 Day Average 29.33 (17.4) (0.5) 7.6 10.8 180 Day Average 28.27 (14.3) 3.3 11.6 15.0 52 Week High Closing Price 32.58 (25.6) (10.4) (3.2) (0.2) EBITDA ⁴ Management / Analyst LTM — 3/31/07 $ 143.8 8.5 x 10.3 x 11.1 x 11.5 x CY2007E — Analyst Median $ 167.9 7.3 x 8.8 x 9.5 x 9.8 x CY2007E — Management 160.9 7.6 9.2 9.9 10.3 CY2008E — Analyst Median $ 183.6 6.6 x 8.0 x 8.7 x 9.0 x CY2008E — Management 175.1 7.0 8.4 9.1 9.4 EPS ⁴ CY2007E — Analyst Median $ 1.46 16.6 x 20.0 x 21.6 x 22.3 x CY2007E - - Management 1.27 19.0 22.9 24.8 25.5 CY2008E — Analyst Median $ 1.68 14.4 x 17.4 x 18.8 x 19.3 x CY2008E — Management 1.45 16.8 20.2 21.8 22.5 PEG (LT — IBES Median) CY 2007E P/E 11.9 % 1.4 x 1.7 x 1.8 x 1.9 x CY 2008E P/E 11.9 1.2 1.5 1.6 ^1.6 Review of Proposed Transaction 6

CONFIDENTIAL II. Financial Analysis            Financial Analysis 7

CONFIDENTIAL Market Performance Indexed Stock Price and Forward P/E Multiple — Past Three Years Indexed Stock Price            Forward P/E Multiple 200% Average High Low Last 3Y Last 2Y Last 1Y 07-Dec-06 Current Colorprint 22.9 x 15.8 x 19.1 x 19.3 x 20.1 x 18.2 x 21.6 x Marketing Services ¹ 21.1 14.0 18.1 17.3 15.8 16.1 16.9 180% 80.3% 23x 160% 21.6x 21x 140% Indexed Price 19x 28.6% 120% 17x Next Twelve Months P/E (x) 16.9x 100% 15x (9.9%) 80% 13x Apr- Sep- Feb- Jul- Dec- May- Oct- Mar- Apr- Sep- Feb- Jul- Dec- May- Oct- Apr-2004 2004 2005 2005 2005 2006 2006 2007 2004 2004 2005 2005 2005 2006 2006 2007 Daily from 13-Apr-2004 to 13-Apr-2007 Daily from 13-Apr-2004 to 13-Apr-2007 Colorprint S&P 500 Index Marketing Services ¹ 160% Financial Analysis 8

15 Jun 2007 15:52 9/24 CONFIDENTIAL Market Performance Enterprise Value / LTM EBITDA — Past Three Years Average 12x High Low Last 3Y Last 2Y Last 1Y 07-Dec-06 Current Colorprint ¹ 11.2 x 5.7 x 8.3 x 8.7 x 9.2 x 8.2 x 11.1 x Marketing Services ² 10.9 7.3 9.2 8.7 8.2 8.5 8.7 11x 11.1 x 10x 9x 8.7 x 8x 7x Enterprise Value to LTM EBITDA Multiple 6x 5x 4x Apr-2004 Sep-2004 Feb-2005 Jul-2005 Dec-2005 May-2006 Oct-2006 Mar-2007 Daily from 13-Apr-2004 to 13-Apr-2007 Colorprint ¹ Marketing Services ² Financial Analysis 9

15 Jun 2007 15:52 10/24 CONFIDENTIAL Comparison of Selected Companies ($ in millions, except per share data) Closing % of Equity Calendarized 5-Year 2007 PE LTM Price 52 Week Market Enterprise Enterprise Value / EBITDA P/E Multiples ² Est. EPS to 5-Year EBITDA Company 13-Apr-07 High Cap ¹ Value ¹ LTM ¹ 2007E ² 2008E ² 2007E 2008E CAGR ² CAGR ² Margin ¹ Colorprint — Analyst Estimates $ 31.55 96.8 % $ 1,529 $ 1,601 11.1 x 9.5 x 8.7 x 21.6 x 18.8 x 11.9 % 1.8 x 30.9 % Colorprint - Management 9.9 9.1 24.8 21.8 Harte Hanks $ 27.17 94.8 % $ 2,092 $ 2,258 10.3 x 9.6 x 9.2 x 18.2 x 16.3 x 10.5 % 1.7 x 18.6 % Acxiom 21.34 80.7 1,672 2,373 5.6 5.8 5.7 20.1 16.5 15.0 1.3 30.6 Valassis Communications 3 18.31 59.7 877 2,189 8.6 9.3 8.1 15.6 12.9 4.5 3.5 10.2 InfoUSA 10.14 80.3 564 817 8.7 6.8 6.3 14.6 12.3 NA NA 21.5 High 94.8 % 10.3 x 9.6 x 9.2 x 20.1 x 16.5 x 15.0 % 3.5 x 30.6 % Median 80.5 8.7 8.1 7.2 16.9 14.6 10.5 1.7 20.0 Mean 78.9 8.3 7.9 7.3 17.1 14.5 10.0 2.2 20.2 Low 59.7 5.6 5.8 5.7 14.6 12.3 4.5 1.3 10.2 Financial Analysis 10

CONFIDENTIAL Illustrative Present Value of Future Stock Price Analysis 2008E EPS Illustrative Present Value of Future Stock Price % Growth from CY 2007E ¹ FY1 P / E Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (11.0)% 2.0 % $ 1.30 $ 20.80 $ 21.96 $ 23.12 $ 24.27 (4.1) 9.8 1.40 22.41 23.65 24.89 26.14 CY 2008E 2.7 17.7 1.50 24.01 25.34 26.67 28.01 EPS 9.6 25.5 1.60 25.61 27.03 28.45 29.87 16.4 33.4 1.70 27.21 28.72 30.23 31.74 23.3 41.2 1.80 28.81 30.41 32.01 33.61 Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $31.55 % Growth from CY 2007E ¹ FY1 P / E Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (11.0)% 2.0 % $ 1.30 (34.1)% (30.4)% (26.7)% (23.1)% (4.1) 9.8 1.40 (29.0) (25.0) (21.1) (17.1) CY 2008E 2.7 17.7 1.50 (23.9) (19.7) (15.5) (11.2) EPS 9.6 25.5 1.60 (18.8) (14.3) (9.8) (5.3) 16.4 33.4 1.70 (13.8) (9.0) (4.2) 0.6 23.3 41.2 1.80 (8.7) (3.6) 1.5 6.5 Financial Analysis 11

15 Jun 2007 15:52 12/24 CONFIDENTIAL Illustrative Present Value of Future Stock Price Analysis 2009E EPS            Illustrative Present Value of Future Stock Price % Growth from CY 2008E ¹ FY1 P / E Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (10.7)% 0.7 % $ 1.50 $ 21.77 $ 22.98 $ 24.19 $ 25.40 (4.8) 7.4 1.60 23.22 24.51 25.80 27.09 CY 2009E 1.2 14.1 1.70 24.68 26.05 27.42 28.79 EPS 7.1 20.8 1.80 26.13 27.58 29.03 30.48 13.1 27.5 1.90 27.58 29.11 30.64 32.17 19.0 34.2 2.00 29.03 30.64 32.25 33.87 Illustrative Premium / (Discount) of Present Value of Future Stock Price to Current Price $31.55 % Growth from CY 2008E ¹ FY1 P / E Analyst Management 18.0 x 19.0 x 20.0 x 21.0 x (10.7)% 0.7 % $ 1.50 (31.0)% (27.2)% (23.3)% (19.5)% (4.8) 7.4 1.60 (26.4) (22.3) (18.2) (14.1) CY 2009E 1.2 14.1 1.70 (21.8) (17.4) (13.1) (8.8) EPS 7.1 20.8 1.80 (17.2) (12.6) (8.0) (3.4) 13.1 27.5 1.90 (12.6) (7.7) (2.9) 2.0 19.0 34.2 2.00 (8.0) (2.9) 2.2 7.3 Financial Analysis 12

CONFIDENTIAL Summary of Historical and Projected Financials ($ in millions, except per share data) Historical CAGR Management Projections CAGR 2004 2005 2006 ‘04 — ‘06 2007E 2008E 2009E 2010E 2011E ‘07 — ‘11 Revenue $ 417.7 $ 403.8 $ 466.8 5.7 % $ 508.3 $ 546.2 $ 595.4 $ 644.9 $ 699.2 8.3 % Growth (3.3)% 15.6 % 8.9 % 7.5 % 9.0 % 8.3 % 8.4 % EBITDA $ 164.2 $ 137.8 $ 158.3 (1.8)% $ 179.9 $ 192.6 $ 211.6 $ 232.0 $ 256.5 9.3 % Growth (16.1)% 14.9 % 13.7 % 7.0 % 9.9 % 9.6 % 10.6 % Margin 39.3 % 34.1 33.9 35.4 35.3 35.5 36.0 36.7 EBIT $ 119.8 $ 101.0 $ 119.0 (0.3)% $ 129.2 $ 137.5 $ 152.6 $ 168.2 $ 190.0 10.1 % Growth (15.7)% 17.8 % 8.6 % 6.4 % 11.0 % 10.2 % 12.9 % Margin 28.7 % 25.0 25.5 25.4 25.2 25.6 26.1 27.2 Net Income $ 76.4 $ 63.6 $ 74.8 (1.0)% $ 76.0 $ 82.7 $ 95.7 $ 106.5 $ 122.3 12.6 % Growth (16.8)% 17.6 % 1.7 % 8.7 % 15.7 % 11.3 % 14.8 % Weighted Avg. Diluted Shares 52.4 50.0 46.6 48.0 48.0 EPS $ 1.46 $ 1.27 $ 1.59 4.6 % $ 1.58 $ 1.72 Growth (12.8)% 25.5 % (0.7)% 8.7 % EPS (including FAS 123R Expense) $ 1.46 $ 1.27 $ 1.42 (1.1)% $ 1.27 $ 1.45 Growth (12.8)% 12.0 % (10.5)% 13.4 % Financial Analysis 13

CONFIDENTIAL Illustrative Discounted Cash Flow Valuation Date April 17, 2007 ($ in millions, except per share data) As of 31-December Apr-Dec 2007 2008 2009 2010 2011 Sales $ 384.5 $ 546.2 $ 595.4 $ 644.9 $ 699.2 Growth 8.9 % 7.5 % 9.0 % 8.3 % 8.4 % EBIT $ 93.7 $ 137.5 $ 152.6 $ 168.2 $ 190.0 EBIT Margin 24.4 % 25.2 % 25.6 % 26.1 % 27.2 % D&A $ 39.1 $ 55.1 $ 59.0 $ 63.8 $ 66.5 EBITDA 132.8 192.6 211.6 232.0 256.5 EBITDA Margin 34.6 % 35.3 % 35.5 % 36.0 % 36.7 % Taxes at 38% $ 35.6 $ 52.2 $ 58.0 $ 63.9 $ 72.2 Change in Working Capital $ 9.8 $ 4.9 $ 2.7 $ 2.4 $ 2.1 Capex 33.2 68.8 67.0 35.0 55.6 Unlevered Free Cash Flow $ 73.9 $ 76.5 $ 89.3 $ 135.4 $ 130.8 Adjustment to Apr — Dec 2007 Unlevered FCF ¹ (4.6) Unlevered Free Cash Flow $ 69.3 $ 76.5 $ 89.3 $ 135.4 $ 130.8 Illustrative Implied Share Price Terminal LTM EBITDA Multiple ² Revenue Growth ³ $ 33.6 7.5 x 8.0 x 8.5 x 9.0 x 9.5 x $ 32.8 5.0 % 6.0 % 7.0 % 8.0 % 9.0 % 10.0 % $ 30.93 $ 32.40 $ 33.84 $ 35.28 $ 36.72 34.0 % $26.77 $28.04 $29.33 $30.66 $32.03 10.5 % 30.38 31.82 33.25 34.66 36.07 35.0 % 27.65 28.94 30.26 31.63 33.03 11.0 % 29.84 31.26 32.66 34.05 35.43 11.5 % 29.32 30.71 32.09 33.45 34.80 EBITDA Margin 36.0 % 28.51 29.83 31.19 32.59 34.01 Discount Rate 12.0 % 28.81 30.17 31.52 32.87 34.19 37.0 % 29.37 30.72 32.11 33.54 35.00 12.5 % 28.31 29.64 30.97 32.29 33.60 Financial Analysis 14

CONFIDENTIAL            Comparison of Selected Premiums 100% Cash Consideration Transactions, Last Three Years Premium Paid to: 28.0 % 27.6 % 21.5 % 20.0 % 1.2 % 1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High Median Premium — 100% Cash Transactions, Last 3 Years ¹ Financial Analysis 15

CONFIDENTIAL Comparison of Selected Transactions Selected Marketing Services Transactions Since 2004 ($ in millions) Enterprise Value / Price / Date Equity Enterprise LTM Forward Forward Announced Target Acquiror Value ¹ Value2 EBITDA EBITDA3 EPS3 Dec-06 ADVO (after legal settlement) 4 Valassis $ 1,061 $ 1,147 13.1 x5 10.6 x5 27.7 x5 Jan-06 VNU NV Valcon Acquisition 9,712 6 11,0386 13.17 12.0 19.5 Aug-05 NDCHealth Information Management Wolters Kluwer NV NA 382 10.58 10.68 NA High 13.1 x 12.0 x 27.7 x Median 13.1 10.6 23.6 Mean 12.2 11.1 23.6 Low 10.5 10.6 19.5 Financial Analysis 16 15 Jun 2007 15:52 17/24

CONFIDENTIAL Appendix A: Additional Information Additional Information 17 15 Jun 2007 15:52 18/24

CONFIDENTIAL Cost of Equity and WACC Analysis ($ in millions) 5.2% Equity Risk Premium Risk Risk-Free Premium Cost of Pre-Tax Cost of Effective Tax Current Debt Curr. Mkt. Val. of Rate1 2 3 4 Rate (t)5 (D)6 Equity (E)7 WACC (Rp) Equity Beta (Be) Equity (Ke) Debt (Kd) Colorprint 4.76 % 5.16 % 1.17 10.80 % 5.83 % 38.0 % $ 131 $ 1,528 10.23 % Harte Hanks 4.76 5.16 0.51 7.39 5.67 36.6 205 2,092 7.05 Acxiom 4.76 5.16 1.06 10.23 7.10 33.5 789 1,672 8.46 Valassis 4.76 5.16 0.91 9.46 8.77 35.0 1,390 877 7.15 InfoUSA 4.76 5.16 1.16 10.75 6.01 40.2 260 564 8.49 High 1.17 10.80 % 10.23 % Median 1.06 10.23 8.46 Mean 0.96 9.72 8.28 Low 0.51 7.39 7.05 7.1% Equity Risk Premium Risk Risk-Free Premium Cost of Pre-Tax Cost of Effective Tax Current Debt Curr. Mkt. Val. of Rate1 2 3 4 Rate (t)5 (D)6 Equity (E)7 WACC (Rp) Equity Beta (Be) Equity (Ke) Debt (Kd) Colorprint 4.76 % 7.10 % 1.17 13.07 % 5.83 % 38.0 % $ 131 $ 1,528 12.32 % Harte Hanks 4.76 7.10 0.51 8.38 5.67 36.6 205 2,092 7.95 Acxiom 4.76 7.10 1.06 12.29 7.10 33.5 789 1,672 9.86 Valassis 4.76 7.10 0.91 11.22 8.77 35.0 1,390 877 7.84 InfoUSA 4.76 7.10 1.16 13.00 6.01 40.2 260 564 10.03 High 1.16 13.00 % 10.03 % Median 0.99 11.75 8.91 Mean 0.91 11.22 8.92 Low 0.51 8.38 7.84 Additional Information 18 15 Jun 2007 15:52 19/24

CONFIDENTIAL Summary of 2007 Forecast vs. Budget ($ in millions, except per share data) Q1 2007 ¹ Q2 2007 ² Q3 2007 Q4 2007 CY 2007 Actual w/o Forecast w/o Forecast w/o Actual Deal Costs Budget Forecast Deal Costs Budget Forecast Budget Forecast Budget Forecast Deal Costs Budget Revenue $ 123.8 $ 123.8 $ 125.6 $ 123.0 $ 123.0 $ 120.2 $ 127.4 $ 127.8 $ 134.0 $ 133.3 $ 508.3 $ 508.3 $ 506.9 % Change (1.4)% (1.4)% 2.4 % 2.4 % (0.3)% 0.5 % 0.3 % 0.3 % EBITDA $ 45.2 $ 46.6 $ 42.4 $ 39.6 $ 40.1 $ 38.8 $ 44.3 $ 45.3 $ 49.0 $ 49.2 $ 178.0 $ 179.9 $ 175.6 % Change 6.4 % 9.8 % 2.2 % 3.5 % (2.2)% (0.5)% 1.4 % 2.5 % Margin 36.5 37.6 33.8 32.2 32.6 32.3 34.8 35.4 36.5 36.9 35.0 35.4 34.6 EBIT $ 33.6 $ 35.0 $ 30.0 $ 26.9 $ 27.4 $ 25.9 $ 31.0 $ 32.0 $ 35.8 $ 35.9 $ 127.3 $ 129.2 $ 123.7 % Change 12.1 % 16.8 % 4.0 % 5.9 % (3.0)% (0.4)% 2.9 % 4.4 % Margin 27.1 28.3 23.9 21.9 22.3 21.5 24.4 25.0 26.7 27.0 25.0 25.4 24.4 Net Income $ 20.7 $ 21.6 $ 17.3 $ 15.5 $ 15.8 $ 14.5 $ 17.9 $ 18.1 $ 20.8 $ 20.5 $ 74.8 $ 76.0 $ 70.4 % Change 19.6 % 24.7 % 6.7 % 8.8 % (1.2)% 1.4 % 6.3 % 8.0 % Weighted Avg. Diluted Shares 46.8 46.8 47.0 47.8 47.8 46.7 48.0 46.4 48.2 46.3 48.0 48.0 46.7 EPS $ 0.44 $ 0.46 $ 0.37 $ 0.32 $ 0.33 $ 0.31 $ 0.37 $ 0.39 $ 0.43 $ 0.44 $ 1.56 $ 1.58 $ 1.51 % Change 20.3 % 25.4 % 4.2 % 6.2 % (4.5)% (2.5)% 3.3 % 4.9 % EPS (w/ FAS 123R Expense) $ 0.37 $ 0.39 $ 0.30 $ 0.24 $ 0.25 $ 0.24 $ 0.29 $ 0.32 $ 0.35 $ 0.37 $ 1.25 $ 1.27 $ 1.22 % Change 23.9 % 30.2 % 3.0 % 5.7 % (7.5)% (4.8)% 2.5 % 4.5 % Additional Information 19 15 Jun 2007 15:52 20/24

CONFIDENTIAL Management vs. Analyst Estimates ($ in millions, except per share data) CY 2007 Estimates EPS EBITDA Net Income Avg. Shares Management $ 1.27 $ 160.9 $ 61.2 48.0 Bear, Stearns & Co. 1.50 170.6 68.0 45.5 Deutsche Bank North America 1.45 171.6 65.5 45.2 First Analysis Securities Corp 1.48 165.3 68.2 46.2 JP Morgan 1.46 NA NA NA Robert W. Baird & Co., Inc. 1.30 158.5 59.7 45.8 Analyst High $ 1.50 $ 171.6 $ 68.2 46.2 Analyst Median 1.46 167.9 66.8 45.6 Analyst Mean 1.44 166.5 65.3 45.7 Analyst Low 1.30 158.5 59.7 45.2 CY 2008 Estimates EPS EBITDA Net Income Avg. Shares Management $ 1.45 $ 175.1 $ 69.4 48.0 Bear, Stearns & Co. 1.72 190.4 78.4 45.5 Deutsche Bank North America NA NA NA NA First Analysis Securities Corp 1.64 176.0 75.5 46.0 JP Morgan 1.92 NA NA NA Robert W. Baird & Co., Inc. 1.60 183.6 72.0 45.0 Analyst High $ 1.92 $ 190.4 $ 78.4 46.0 Analyst Median 1.68 183.6 75.5 45.5 Analyst Mean 1.72 183.3 75.3 45.5 Analyst Low 1.60 176.0 72.0 45.0 Additional Information 20 15 Jun 2007 15:52 21/24

CONFIDENTIAL Management vs. Quarterly Analyst Estimates Y-o-Y Estimates vs. Y-o-Y Q1 2007 % Change ¹ Q1 Actual ² Q2 2007 % Change ³ Management $ 0.46 (8.6)% 0.0 % $ 0.33 (5.8)% Bear, Stearns & Co. 0.45 (10.3) (1.8) 0.37 6.9 Deutsche Bank North America 0.41 (18.2) (10.4) 0.37 4.4 First Analysis Securities Corp 0.47 (6.4) 2.5 0.37 6.8 JP Morgan NA NA Robert W. Baird & Co., Inc. 0.42 (17.0) (9.1) 0.32 (8.6) Analyst High $ 0.47 (6.4)% 2.5 % $ 0.37 6.9 % Analyst Median 0.44 (13.6) (5.5) 0.37 5.6 Analyst Mean 0.44 (13.0) (4.7) 0.36 2.4 Analyst Low 0.41 (18.2) (10.4) 0.32 (8.6) Additional Information 21 15 Jun 2007 15:52 22/24

CONFIDENTIAL Implied Transaction Multiples Premium to Average Prices Based on Ending Date of 07-Dec-06 ($ in millions, except per share data) 07-Dec-06 ¹ 20-Feb-07 ² Current (13-Apr-07) Hi-Liter Proposal Price Per Share $ 24.23 $ 29.19 $ 31.55 $ 32.50 Premium to Current Price (13-Apr-07) (23.2)% (7.5)% 0.0 % 3.0 % Equity Value ³ $ 1,148 $ 1,404 $ 1,529 $ 1,580 Net Debt (at 31-Mar-07) 72 72 72 72 Enterprise Value 1,220 1,476 1,601 1,652 Premium to: 07-Dec-06 Closing Price ¹ $ 24.23 0.0 % 20.5 % 30.2 % 34.1 % 20-Feb-07 Closing Price ² 29.19 (17.0) 0.0 8.1 11.3 30 Day Average 24.91 (2.7) 17.2 26.7 30.5 90 Day Average 26.97 (10.1) 8.2 17.0 20.5 180 Day Average 26.84 (9.7) 8.7 17.5 21.1 52 Week High Closing Price 29.77 (18.6) (1.9) 6.0 9.2 EBITDA5 Management / Analyst LTM — 3/31/07 $ 143.8 8.5 x 10.3 x 11.1 x 11.5 x CY2007E — Analyst Median $ 167.9 7.3 x 8.8 x 9.5 x 9.8 x CY2007E — Management 160.9 7.6 9.2 9.9 10.3 CY2008E — Analyst Median $ 183.6 6.6 x 8.0 x 8.7 x 9.0 x CY2008E — Management 175.1 7.0 8.4 9.1 9.4 EPS5 CY2007E — Analyst Median $ 1.46 16.6 x 20.0 x 21.6 x 22.3 x CY2007E — Management 1.27 19.0 22.9 24.8 25.5 CY2008E — Analyst Median $ 1.68 14.4 x 17.4 x 18.8 x 19.3 x CY2008E — Management 1.45 16.8 20.2 21.8 22.5 PEG (LT — IBES Median) CY 2007E P/E 11.9 % 1.4 x 1.7 x 1.8 x 1.9 x CY 2008E P/E 11.9 1.2 1.5 1.6 1.6 Additional Information 22 15 Jun 2007 15:52 23/24

CONFIDENTIAL Comparison of Selected Premiums 100% Cash Consideration, Last 3 Years ($ in millions) Premium Announced Target Acquiror Equity Value 1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High 04/02/07 Global Imaging Systems Inc Xerox Corp $ 1,483 48.7 % 46.9 % 41.9 % 38.4 % 26.4 % 03/25/07 Biosite Inc Beckman Coulter Inc 1,542 53.5 57.8 63.6 75.3 47.5 03/22/07 Paxar Corp Avery Dennison Corp 1,313 28.0 33.1 36.3 45.4 28.0 03/22/07 Kronos Inc Hellman & Friedman Capital 1,796 21.8 35.9 46.9 58.1 20.0 03/19/07 EGL Inc Apollo Management LP 1,488 20.9 14.8 (0.8) (28.3) (33.1) 03/15/07 PHH Corp Investor Group 1,725 13.3 8.1 9.4 14.5 4.2 02/26/07 Hub International Ltd Investor Group 1,604 16.0 22.6 27.8 35.9 16.0 02/22/07 Great American Finl Res Inc American Financial Group Inc 1,116 8.6 7.9 3.1 16.4 (3.5) 02/12/07 Witness Systems Inc Verint Systems Inc 1,072 23.5 29.7 57.0 113.0 1.7 02/05/07 Mills Corp Investor Group 1,358 8.4 24.7 29.6 3.0 (46.1) 02/05/07 Longview Fibre Co Brookfield Asset Mgmt Inc 1,627 17.8 14.1 20.4 17.3 (8.1) 01/24/07 21st Century Insurance Co AIG 1,742 20.9 12.1 23.6 33.4 9.5 01/02/07 EGL Inc Investor Group 1,488 20.9 14.8 (0.8) (28.3) (33.1) 12/20/06 John H Harland Co M&F Worldwide Corp 1,421 18.6 22.3 42.6 26.2 2.9 12/05/06 Bandag Inc Bridgestone/Firestone Inc 1,016 12.7 17.7 29.8 36.8 (1.8) 11/30/06 Digital Insight Corp Intuit Inc 1,354 18.2 23.6 37.5 26.2 1.5 11/16/06 Conor Medsystems Inc Johnson & Johnson Inc 1,459 23.8 32.1 30.7 29.5 10.1 11/06/06 Per-Se Technologies Inc McKesson Corp 1,095 14.5 17.7 20.0 13.7 (5.0) 10/31/06 Banta Corp RR Donnelley & Sons Co 1,306 16.6 12.2 16.9 11.3 0.0 10/30/06 Sirna Therapeutics Inc Merck & Co Inc 1,132 100.2 110.5 138.0 116.9 52.6 10/30/06 Trustreet Properties Inc GE Capital Solutions Franchise 1,151 15.7 33.8 37.2 32.5 17.1 10/30/06 Trammell Crow Co CB Richard Ellis Group Inc 1,971 28.1 33.9 39.7 39.7 19.4 10/26/06 Kanbay International Inc Capgemini SA 1,162 8.2 29.7 49.1 70.9 28.6 10/25/06 Universal American Financial Investor Group 1,107 4.5 12.3 16.5 23.5 23.4 10/11/06 Jacuzzi Brands Inc Apollo Management LP 1,240 10.1 20.3 32.7 34.7 12.6 10/25/06 Yankee Candle Co Inc Madison Dearborn Partners LLC 1,724 11.3 18.2 29.7 30.0 33.8 08/23/06 Internet Sec Sys Group Inc IBM Corp 1,303 4.4 14.7 31.3 27.4 27.9 08/10/06 FileNet Corp IBM Corp 1,557 1.7 18.6 25.5 27.6 (2.3) 07/09/06 Heritage Ppty Invest Trust Inc Centro Properties Group 1,753 3.3 6.1 (2.1) 1.1 (10.2) 05/14/06 SSA Global Technologies Inc Infor Global Solutions 1,529 25.1 25.7 17.5 16.0 (5.2) 05/01/06 Aviall Inc Boeing Co 1,716 27.3 26.2 34.7 41.2 0.1 04/27/06 Diagnostic Products Corp Siemens Medical Solutions Inc 1,767 20.7 23.3 21.7 21.1 0.8 04/25/06 Serologicals Corp Millipore Corp 1,389 35.3 32.5 38.1 41.5 1.2 04/20/06 Ubiquitel Inc Sprint Nextel Corp 1,035 1.6 2.7 4.2 10.0 (0.2) 01/22/06 Sports Authority Inc Investor Group 1,021 20.0 21.5 23.7 20.0 8.4 11/20/05 Beverly Enterprises Inc Fillmore Capital Partners LLC 1,593 33.3 6.6 1.6 1.7 (7.0) 11/10/05 SERENA Software Inc Silver Lake Partners 1,026 2.7 16.8 21.0 19.2 (1.7) 11/08/05 Linens n Things Inc Investor Group 1,295 7.9 10.4 11.4 13.2 (5.4) 10/24/05 Amli Residential Ppty Trust Prime Property Fund 1,177 20.7 19.2 19.8 26.1 (0.7) 10/16/05 Adv Neuromodulations Sys Inc St Jude Medical Inc 1,369 30.4 25.1 32.9 58.4 13.7 Additional Information 23 15 Jun 2007 15:52 24/24

CONFIDENTIAL Comparison of Selected Premiums (cont’d) 100% Cash Consideration, Last 3 Years ($ in millions) Premium Announced Target Acquiror Equity Value 1 Day 30-Day Average 90-Day Average 180-Day Average 52 Week High 09/15/05 UICI Investor Group $ 1,719 19.1 % 17.0 % 25.6 % 29.8 % 0.6 % 08/04/05 Metris Cos Inc HSBC Finance Corp 1,575 1.1 4.2 12.8 18.6 (1.8) 07/21/05 Priority Healthcare Corp Express Scripts Inc 1,252 7.7 12.1 21.2 24.0 5.6 07/10/05 US Unwired Inc Sprint Corp 1,072 1.5 14.4 27.2 34.2 1.5 06/16/05 Vicuron Pharmaceuticals Inc Pfizer Inc 1,916 84.2 69.9 72.4 77.3 3.1 06/13/05 Commercial Federal,Omaha,NE Bank of the West,CA 1,367 34.1 35.0 28.0 23.6 11.9 06/07/05 Gables Residential Trust Investor Group 1,272 14.1 17.9 23.4 22.9 (0.6) 05/16/05 Overnite Corp UPS 1,220 46.2 39.5 34.5 30.5 1.2 05/12/05 Cuno Inc 3M Co 1,290 31.3 36.2 32.0 27.0 1.1 04/21/05 Transkaryotic Therapies Inc Shire Pharmaceuticals Grp PLC 1,384 21.6 45.2 51.6 72.7 0.5 03/14/05 Ascential Software Corp IBM Corp 1,121 17.8 18.3 24.7 32.0 (22.9) 01/31/05 Pulitzer Inc Lee Enterprises Inc 1,432 1.8 0.2 9.3 20.6 (2.9) 01/27/05 Genencor International Inc Danisco A/S 1,151 23.9 19.0 19.5 22.1 0.6 11/24/04 Ionics Inc GE Infrastructure Inc 1,072 47.9 48.1 59.2 63.7 1.2 11/03/04 Argosy Gaming Co Penn National Gaming Inc 1,408 16.4 17.5 30.2 32.4 9.7 10/20/04 Boca Resorts Inc Blackstone Real Estate Advisor 1,031 26.6 28.9 27.3 29.2 20.0 10/19/04 Robert Mondavi Corp Constellation Brands Inc 1,030 49.9 48.7 60.1 60.8 13.8 10/18/04 Select Medical Corp EGL Holding Co 1,983 26.6 34.2 32.8 23.2 (8.9) 09/29/04 Orbitz Inc Cendant Corp 1,229 34.5 41.1 41.4 26.1 (10.6) 07/13/04 National Processing Inc Bank of America Corp 1,425 (9.5) (7.9) 8.1 13.5 (10.1) 05/24/04 NeighborCare Inc Omnicare Inc 1,410 52.5 61.1 49.1 54.3 29.3 05/24/04 WFS Financial Inc Westcorp,Irvine,CA 1,940 3.5 6.1 9.3 11.9 (0.7) 05/19/04 ALARIS Medical Systems Inc Cardinal Health Inc 1,743 18.4 15.6 12.6 24.7 (2.8) 05/18/04 Kroll Inc Marsh & McLennan Cos Inc 1,958 32.4 30.6 39.8 50.0 20.9 03/22/04 US Oncology Inc Welsh Carson Anderson & Stowe 1,302 18.5 15.9 26.8 51.7 (1.8) 03/15/04 InVision Technologies Inc GE Infrastructure Inc 1,159 21.3 30.9 44.0 66.6 1.2 Median—100% Cash Transactions 20.0 % 21.5 % 28.0 % 27.6 % 1.2 % Additional Information 24