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Behrman Capital Acquires Majority Interest In Executive Greetings, Inc. With a Total Financial Package Valued at $273 Million

Behrman Joins with Tandem Investments, Inc. to Acquire Business-to-Business Direct Marketer in Leveraged Recapitalization

Approximately $60 Million to Be Set Aside to Fund Add-On Acquisitions

September 27, 1999

Behrman Capital, a private investment firm focused on emerging growth companies, today announced that it has become the majority shareholder of Executive Greetings, Inc. (“EGI”). Based in New Hartford, CT, the Company is the world’s second largest business-to-business direct marketer of customized promotional and business products. Terms of the transaction were not disclosed.

With revenues of over $110 million, Executive Greetings, Inc. is one of the largest companies in the market for customized business products. EGI produces seasonal and everyday greeting cards, calendars, desk diaries and planners; advertising specialty products; dental practice promotional items; business forms, labels and stationary; labor law signage; and human resource products. Over 80 percent of EGI’s product sales are personalized with customer names, logos and custom messages. EGI focuses on serving small business customers, delivering high quality, customized products on a quick turnaround basis.

“We welcome today’s investment from Behrman Capital and Tandem Investments, both of whom will provide strong support and a breadth of expertise to facilitate our growth strategy,” said Lee Bracken, Chief Executive Officer of Executive Greetings, Inc. “As the world’s number one provider of business-to-business greeting cards and number two provider of diaries, planners, and HR products, we are in an excellent position to leverage our industry leadership to expand into new markets. Today Behrman and Tandam have provided the foundation to make that happen.”

“Executive Greetings is a truly superior company that brings together industry leadership, a broad array of product offerings, high efficiency, superior technology, and the most experienced management team in the business,” said Darryl G. Behrman, a Managing Partner of Behrman Capital. “EGI is well known to businesses across the country through its broad array of products and catalogs, and has distinguished itself by providing high quality, innovative products and superior customer service. In an industry that has yet to see significant consolidation, we view Executive Greetings as a strong platform for growth and are very excited to help lead what we think will be a remarkable investment story.”

Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Darryl G. Behrman and Grant G. Behrman. The firm invests in management buyouts of growth companies in the information technology, health care, and outsourcing sectors, and makes strategic investments in special situations. Behrman also provides expansion capital to emerging growth companies, principally in the high technology and health care services industries. The firm currently has a combined capital base exceeding $641 million.

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