<PAGE>


                                     MOORE

                              CORPORATION LIMITED

                                 Interim Report




                                TO SHAREHOLDERS
                              FOR THE NINE MONTHS
                            ENDED SEPTEMBER 30, 2000




                                       3



www.moore.com


<PAGE>

CORPORATE
           VISION

         Moore Corporation Limited will be a high growth, technology-based
leader in the management and communication of customer information, thereby
creating value for our shareholders, customers and employees.

MESSAGE FROM
           THE CEO
         The aggressive actions we are taking to get costs in line are helping
to remedy performance issues in our North American forms and labels business and
had a positive effect on our operations in the third quarter. At the same time,
we are continuing to move forward with key growth initiatives that are
transforming Moore from the largest paper-based provider of forms and labels to
a leader in delivering digital information services.
         During the quarter, we continued implementation of a Corporate-wide
cost containment program. The original target of $30 million in annual savings
was achieved by the end of the third quarter. Additional cost savings are
expected to be realized in the fourth quarter.
         In addition, the recent signing of a marketing alliance with K2 Design,
Inc., a leading U.S.-based Internet consulting company, and our relationship
with Direct Insite Corp. (formerly Computer Concepts), a leader in the
development of data analysis software, is further evidence of our plan to
deliver a wider range of innovative, technology-advanced solutions to our
customers. The alliances are consistent with relationships we formed earlier in
the year with Internet-based business-to-business companies Noosh, Impress and
Commerce One. Combined with key digital and Internet initiatives launched in the
second and third quarter, these alliances reinforce Moore's on-going commitment
to deliver the widest range of Internet and technology-based print and digital
solutions to our customers.
         While the financial impact of these initiatives is not yet significant,
they provide solid evidence that the steps we are taking to tap new marketplaces
and develop high-demand, technology-based solutions that will drive long-term
growth are starting to take hold.
         In addition, after a successful second quarter launch, we are
increasing our focus to expand sales to new customers and new market segments
through Latitudes-TM-. Latitudes-TM- is an initiative to help fuel growth by
accelerating the use of independent distributors as alternate channels to reach
customers not currently served by our direct sales force.

FINANCIAL
           HIGHLIGHTS

FOR THE NINE MONTHS
ENDED SEPTEMBER 30, 2000

<TABLE>
<CAPTION>

                                       2000        1999
<S>                                 <C>         <C>
Sales                               $ 1,678     $ 1,778
Income (loss)                           (16)         41
         from operations
Net earnings (loss)                     (31)         20
Per common share
         Net earnings               $ (0.35)    $  0.23
         Dividends                  $  0.15     $  0.15
Average shares                       88,457      88,457
         outstanding (thousands)
</TABLE>

EXPRESSED IN UNITED STATES CURRENCY AND, EXCEPT PER SHARE AMOUNTS, IN MILLIONS
OF DOLLARS.

2

LETTER TO
           SHAREHOLDERS

OPERATING RESULTS DISCUSSION

         Highlights of the consolidated results reported for the first nine
months of 2000 and 1999 are shown in the accompanying consolidated statement of
earnings on pages 8 and 9 of this interim report.
         The reported consolidated results of the third quarter of 2000
(Q3-2000) and 1999 (Q3-1999) as well as for the first nine months of 2000 and
1999 include certain transactions, which affect the operating results in a
disproportionate manner. Items, as detailed below, have been removed from the
operating results of the affected periods in order to improve their
comparability.
-   Operating results in the first nine months of 1999 of the Data
Management Services business unit sold in December 1999 with sales of $47.4
million ($12.8 million in Q3-1999) and a loss from operations of $3.4 million
($2.4 million loss in Q3-1999).
-   Year 2000 costs for the third quarter and first nine months of 1999 of $4.7
million and $15.0 million, respectively.
-   Restructuring expenses of $5.0 million incurred in the first nine months of
2000 as a result of the change in accounting policy explained in the first
quarter 2000 interim report ($1.2 million in Q3-2000).
-   Write-down of the investment in JetForm Corporation (JetForm) by $8.6
million in Q3-2000.
         All further discussions will be based on the Corporation's operating
results net of the above mentioned items.

EXPRESSED IN UNITED STATES CURRENCY AND, EXCEPT PER SHARE AMOUNTS, IN MILLIONS
OF DOLLARS.

<TABLE>
<CAPTION>

                                   Presented net of above noted items
                                THREE MONTHS ENDED       NINE MONTHS ENDED
                                   SEPTEMBER 30            SEPTEMBER 30
                                  2000       1999         2000         1999
<S>                          <C>        <C>        <C>          <C>
Sales:
         Moore North
           America           $   362.6  $   393.9  $   1,074.0  $   1,157.4
         CCS United States       113.7      105.9        361.3        335.2
         Latin America            44.9       39.9        136.5        118.7
         Europe                   29.3       43.8        106.0        119.1
                             ---------  ---------  -----------  -----------
                             $   550.5  $   583.5  $   1,677.8  $   1,730.4
Income (loss) from
 operations:
         Moore North
           America           $     0.5  $    17.3  $     (40.1) $      27.7
         CCS United States         6.9        6.9         24.7         30.0
         Latin America             1.5        1.0          4.4          0.4
         Europe                   (1.2)       1.1         (1.1)         2.4
         General Corporate         1.9       (0.5)         1.0         (1.6)
                             ---------  ---------  -----------  -----------
                             $     9.6  $    25.8  $     (11.1) $      58.9
NET EARNINGS (LOSS)          $     1.1  $    13.0  $     (19.3) $      31.2
NET EARNINGS (LOSS)
         PER COMMON SHARE    $     0.01 $    0.15  $     (0.22) $      0.35
</TABLE>

         Sales in Q3-2000 of $550.5 million were 5.7% lower than Q3-1999 sales
of $583.5 million. Sales in the first nine months of 2000 of $1,677.8 million
decreased 3.0% compared to sales of $1,730.4 million in the same period of 1999.
-   Forms sales in the first nine months of 2000 of $1,159.5 million
decreased by $68.8 million compared to Forms sales of $1,228.3 million in the
same period last year. Included in Forms sales are Labels and Label Systems of
$345.5 million in 2000 compared to $343.5 million in 1999.
-   CCS sales in the first nine months of 2000 of $518.2 million increased
by 3.2% from $502.2 million in 1999.


                                       3
<PAGE>

         Income from operations in Q3-2000 was $9.6 million compared to income
from operations in Q3-1999 of $25.8 million. The year to date loss from
operations in 2000 was $11.1 million, while income from operations in the first
nine months of 1999 was $58.9 million.
-   Year to date loss from operations in 2000 for the Forms business was
$30.6 million compared to an operating income of $24.5 million in the first nine
months of 1999.
-   CCS income from operations in the first nine months of 2000 of $19.5
million decreased by $14.9 million from $34.4 million in 1999.
         Net earnings in Q3-2000 were $1.1 million or $0.01 per share compared
to net earnings of $13.0 million or $0.15 per share in Q3-1999. In the first
nine months of 2000 the net loss was $19.3 million or $0.22 per share compared
to the net earnings of $31.2 million or $0.35 per share in the same period of
1999.
         Cash outflow from operations for the first nine months was $17 million
compared to cash inflow of $74 million for the first nine months of 1999. Cash
resources decreased from $25 million at December 31, 1999 to bank indebtedness
of $2 million at September 30, 2000. The cash was used to fund restructuring
costs of $17 million, capital expenditures of $61 million, software expenditures
of $23 million and dividends of $13 million offset partially by $29 million of
cash proceeds received from the sale of assets, $11 million of proceeds received
from the partial liquidation of long-term bonds and borrowings of $48 million.
         During Q3-2000 the Corporation decided to sell one million common
shares of it's investment in JetForm. Investment and other income includes a
pre-tax charge of $8.6 million to write-down the value of the Corporation's
total holdings in JetForm to fair value.
         As disclosed in the interim report of the first quarter, the
Corporation is conducting an internal review of its Enterprise Resource Planning
(ERP) system with the objective of maximizing benefit realization. As part of
this review process, the Corporation decided to postpone the deployment of a
component of its ERP for its US-based manufacturing facilities. Further
decisions on the deployment plans or processes may be made based on the results
of the review, which is expected to be completed before the end of the year. We
continue to expect that the Corporation will realize significant benefits from
reduction in transaction and other costs once the ERP system is fully
implemented.

MOORE NORTH AMERICA
         Sales in this business segment for Q3-2000 and for the first nine
months of 2000 of $362.6 million and $1,074.0 million were below sales in the
corresponding periods of last year by 7.9% and 7.2%, respectively. This decline
in revenue is attributable to lower sales volumes in the company's United States
forms business, including that of Peak Technologies, as a result of the
Corporation's strategy to exit low margin accounts. Various channel expansion
and digital initiatives launched during the second quarter to focus on expanding
our distribution are expected to contribute to sales growth in the future,
however, the impact of these initiatives is not yet significant.
         Operating income in the third quarter and operating loss in the first
nine months of 2000 were $0.5 million and $40.1 million, respectively, compared
to income from operations of $17.3 million and $27.7 million in the
corresponding periods of 1999. The decline in operating results against 1999 is
primarily attributable to the volume shortfall, investments to launch various
digital and Internet strategies for the forms business, and continued
incremental costs related to maintaining redundant computer systems as the
Corporation implements the enterprise-wide information (ERP) system. The
significant improvement in operating income during the quarter versus the first
half of the year is due primarily to the realization of cost reduction programs
launched in the second quarter to reduce administration costs.

                                       4

CCS UNITED STATES
         This segment continues to show volume growth over 1999. CCS US sales in
the third quarter and the first nine months of 2000 of $113.7 million and $361.3
million increased by 7.4% and 7.8% respectively, compared to sales in the
corresponding periods of 1999. New opportunities in the Response Marketing
Services business have more than offset the impact of the lower volumes from
customers in the U.S. sweepstakes industry. Through new product and service
offerings, including the introduction of an Electronic Bill Presentment and
Payment solution, the Business Communication Services business has continued to
drive volume growth.
         Operating income in the third quarter and first nine months of 2000 was
$6.9 million and $24.7 million respectively, compared to income from operations
of $6.9 million and $30.0 million in the corresponding periods of 1999. Despite
the revenue increase, operating income has been impacted by investments to
create new product line ventures and reposition existing product and service
offerings, incremental costs associated with maintaining redundant IT systems as
the ERP system is implemented, and pricing pressures in the RMS business.

LATIN AMERICA
         The Latin American business segment sales and operating income in the
third quarter of 2000 have improved by $5.0 million and $0.5 million
respectively, compared to 1999. On a year to date basis, sales and operating
income are higher by $17.8 million and $4.0 million respectively, versus the
first nine months of 1999. Higher volumes in Brazil and a favourable product mix
in Venezuela and Central America contributed to the improved performance.

EUROPE
         European sales in the third quarter of 2000 have decreased by $14.5
million over the 1999 sales of $43.8 million. Sales in the first nine months of
2000 were lower by $13.1 million over the sales of $119.1 million in the same
period of 1999. The decrease is primarily attributable to unfavourable foreign
exchange movements and lower volumes in the Colleagues business unit caused by
the recent loss of some accounts and the cancellation of certain orders by a key
customer.
         Loss from operations in the third quarter and the first nine months of
2000 was $1.2 million and $1.1 million respectively, compared to income from
operations of $1.1 million and $2.4 million respectively, in the same periods
last year. The decline in operating income is primarily due to the lower
volumes.

ECONOMIC VALUE ADDED-Registered Trademark- (EVA)
         Moore did not meet its EVA improvement target for the nine months ended
September 30, 2000.

DIVIDEND
         On October 27, 2000 the Board of Directors declared a quarterly
dividend of 5 cents per common share payable in United States funds on January
3, 2001 to shareholders of record on December 1, 2000.


/s/ W. Ed Tyler                           /s/ Thomas E. Kierans
----------------------------------     -------------------------------------
W. Ed Tyler                            Thomas E. Kierans
President and Chief                    Chairman of the Board
Executive Officer

October 27, 2000


                                       5

<PAGE>

CONSOLIDATED BALANCE SHEET

EXPRESSED IN UNITED STATES CURRENCY
IN THOUSANDS OF DOLLARS

<TABLE>
<CAPTION>

                                                                SEPTEMBER 30                 December 31
                                                                        2000                        1999
                                                                ------------                 ----------
<S>                                                             <C>                         <C>
    ASSETS
    Current assets:
    Cash and short-term securities                               $    17,639                $    38,179
    Accounts receivable                                              412,583                    477,083
    Inventories:
         Raw material                                                 46,549                     42,653
         Work in process                                              16,151                     15,918
         Finished goods                                              107,820                    120,095
    Prepaid expenses                                                  36,077                     23,930
    Deferred income taxes                                             41,656                     33,002
                                                                ------------                 ----------
    Total current assets                                             678,475                    750,860
    Property, plant and equipment:
    Cost                                                           1,170,248                  1,199,822
    Less: Accumulated depreciation                                   746,212                    741,014
                                                                ------------                 ----------
                                                                     424,036                    458,808
    Goodwill                                                         152,011                    156,867
    Deferred income taxes and other assets                           577,436                    263,758
                                                                ------------                 ----------
    Total assets                                                 $ 1,831,958                $ 1,630,293
                                                                ------------                 ----------
                                                                ------------                 ----------

    LIABILITIES
    Current liabilities:
    Bank loans                                                   $    19,973                $    13,086
    Accounts payable and accruals                                    411,093                    533,010
    Deferred income taxes                                              1,088                          -
    Short-term debt                                                   83,682                     40,140
    Dividends payable                                                  4,325                      4,423
    Income taxes                                                      31,394                     31,805
                                                                ------------                 ----------
    Total current liabilities                                        551,555                    622,464
    Long-term debt                                                   209,452                    201,686
    Deferred income taxes and liabilities                            401,457                    118,888
    Minority interests                                                14,638                     14,581
                                                                ------------                 ----------
    Total liabilities                                              1,177,102                    957,619
                                                                ------------                 ----------
                                                                ------------                 ----------

    SHAREHOLDERS' EQUITY
    Common shares                                                    310,881                    310,881
    Unrealized foreign currency translation adjustments             (127,752)                  (118,256)
    Retained earnings                                                471,727                    480,049
                                                                ------------                 ----------
                                                                     654,856                    672,674
    Total liabilities and shareholders' equity                  $  1,831,958                 $1,630,293
                                                                ------------                 ----------
                                                                ------------                 ----------
</TABLE>

                         6                                                7

<PAGE>

CONSOLIDATED STATEMENT OF EARNINGS
EXPRESSED IN UNITED STATES CURRENCY AND,
EXCEPT EARNINGS (LOSS) PER SHARE, IN THOUSANDS OF DOLLARS

<TABLE>
<CAPTION>
                                                 Three months ended September 30    Nine months ended September 30
                                                            2000            1999             2000             1999
                                                      ------------------------------------------------------------
<S>                                                    <C>             <C>             <C>              <C>
Sales                                                  $ 550,493       $ 596,363       $1,677,763       $1,777,929
                                                      ----------       ---------       ----------       ----------
Cost of sales                                            380,449         404,768        1,171,691        1,206,410
Selling, general and administrative expenses             126,860         141,968          417,492          434,056
Provision for restructuring costs                          1,170               -            4,995                -
Capital asset amortization                                29,256          25,743           83,696           79,556
Research and development expense                           4,368           5,194           16,006           17,371
                                                      ------------------------------------------------------------
                                                         542,103         577,673        1,693,880        1,737,393
                                                      ------------------------------------------------------------
Income (loss) from operations                             (8,390)         18,690          (16,117)          40,536
Investment and other income (loss)                        (8,446)            633           (7,290)           3,723
Interest expense                                           6,335           6,887           18,570           17,569
                                                      ------------------------------------------------------------
                                                          (6,391)         12,436          (41,977)          26,690
Income taxes                                               1,158           3,668          (12,162)           5,944
Minority interests                                           361              81            1,074              489
                                                      ------------------------------------------------------------
Net earnings (loss)                                    $  (7,910)      $   8,687       $  (30,889)       $  20,257
------------------------------------------------------------------------------------------------------------------
Earnings (loss) per common share                       $   (0.09)      $    0.10       $    (0.35)       $    0.23
------------------------------------------------------------------------------------------------------------------
</TABLE>

UNITED STATES GAAP RECONCILIATION
EXPRESSED IN UNITED STATES CURRENCY AND,
EXCEPT EARNINGS (LOSS) PER SHARE, IN THOUSANDS OF DOLLARS

<TABLE>
<CAPTION>
                                                 Three months ended September 30    Nine months ended September 30
                                                            2000            1999             2000             1999
                                                      ------------------------------------------------------------
<S>                                                    <C>             <C>             <C>              <C>
Net earnings (loss) as reported                        $  (7,910)      $   8,687       $  (30,889)      $   20,257
Decreased (increased) pension expense                      3,949          (1,578)          11,844           (4,785)
Decreased post retirement benefits                         5,646           1,842           14,574            4,990
Reengineering costs                                          700          (2,882)            (800)          (5,331)
Increased termination liabilities                              -          (5,146)               -          (16,010)
Reduced income taxes (1)                                  (4,066)          3,565          (10,114)          10,094
                                                      ------------------------------------------------------------
Net earnings (loss) as determined under U.S. GAAP      $  (1,681)      $   4,488       $  (15,385)      $    9,215
                                                      ------------------------------------------------------------
Earnings (loss) per share:
  Basic earnings (loss) per share                      $   (0.02)      $    0.05       $    (0.17)      $     0.10
  Diluted earnings (loss) per share                    $   (0.02)      $    0.05       $    (0.17)      $     0.10
  Average shares outstanding (in thousands)               88,457          88,457           88,457           88,457
                                                      ------------------------------------------------------------
Comprehensive income:
  Net earnings (loss) as determined under U.S. GAAP    $  (1,681)      $   4,488       $  (15,385)      $    9,215
  Other comprehensive income (loss):
    Foreign currency translation adjustment               (3,713)          2,257           (9,496)         (12,879)
    Unrealized losses on available-for-sale securities     6,372               -            4,642                -
Total comprehensive income (loss)                      $     978       $   6,745       $  (20,239)      $   (3,664)
                                                      ------------------------------------------------------------
(1) SFAS No. 109 income tax adjustments                $       -       $     502       $         -      $    1,755
------------------------------------------------------------------------------------------------------------------
</TABLE>

                       8                                                      9

<PAGE>


                            CONSOLIDATED STATEMENT OF CASH FLOWS
                             EXPRESSED IN UNITED STATES CURRENCY
                                   IN THOUSANDS OF DOLLARS

<TABLE>
<CAPTION>

                                                             Nine months ended September 30
                                                                   2000             1999
                                                               ---------------------------
         <S>                                                 <C>                 <C>
         OPERATING ACTIVITIES
         Net earnings (loss)                                   $  (30,889)       $  20,257
         Items not affecting cash resources                        94,242           79,204
         Increase in working capital other than cash resources    (80,140)         (25,342)
                                                               ---------------------------
         Total                                                 $  (16,787)       $  74,119
                                                               ---------------------------

         INVESTING ACTIVITIES
         Expenditure for property, plant and equipment         $  (60,671)       $ (67,124)
         Sale of property, plant and equipment                     29,332            9,613
         Acquisition of businesses                                 (2,247)          (6,773)
         Disposal of businesses                                     4,361                -
         Software expenditures                                    (22,908)         (41,393)
         Other                                                      9,192          (11,301)
                                                               ---------------------------
         Total                                                 $  (42,941)       $(116,978)
                                                               ---------------------------

         FINANCING ACTIVITIES
         Dividends                                             $  (13,171)       $ (13,269)
         Addition to debt                                         135,671          222,590
         Reduction in debt                                        (87,556)        (204,394)
         Other                                                     (4,026)          (4,894)
                                                               ---------------------------
         Total                                                 $   30,918        $      33
                                                               ---------------------------

         Decrease in cash resources before
                  unrealized exchange adjustments              $  (28,810)       $ (42,826)
         Unrealized exchange adjustments                            1,383           (2,277)
         Decrease in cash resources                               (27,427)         (45,103)
         Cash resources at beginning of year(1)                    25,093          130,971
                                                               ---------------------------
         Cash resources at end of period(1)                    $   (2,334)       $  85,868
                                                               ---------------------------

         (1) Cash resources are defined as cash and
             short-term securities less bank loans.

         OTHER CASH FLOW DISCLOSURES
         Interest paid                                         $   22,312        $   17,485
         Income taxes paid                                     $    4,217        $    1,774
                                                               ---------------------------
</TABLE>

                       10                                              11



<PAGE>

NOTES

EXPRESSED IN UNITED STATES CURRENCY AND, EXCEPT PER
SHARE AMOUNTS, IN THOUSANDS OF DOLLARS



1.       UNITED STATES GAAP

<TABLE>
<CAPTION>

                                                                    September 30, 2000                December 31, 1999
         Balance sheet items:                                   As reported      U.S. GAAP         As reported      U.S. GAAP
                                                                -----------      ---------         -----------      ---------
         <S>                                                    <C>              <C>               <C>              <C>
         Net pension asset                                      $(261,659)       $ (40,104)        $ (22,323)       $ (30,140)
         Other assets - computer software                        (144,526)         (96,439)         (139,032)         (91,745)
         Post retirement benefit cost liability                   230,252          411,424                 -          426,511
         Deferred income taxes asset - long term                  (71,808)        (229,524)          (33,002)        (260,635)
         Deferred income taxes liability - long term              106,334           71,150            24,439           91,736
         Accounts payable and accruals                            411,093          405,093           533,010          459,045
         Unrealized foreign currency translation adjustments     (127,752)         (92,568)         (118,256)         (83,072)
         Retained earnings                                        471,727          184,629           480,049          213,185

</TABLE>

2.       SEGMENTED INFORMATION

<TABLE>
<CAPTION>

         For the nine months                              Moore              CCS           Latin
         ended September 30                           North America     United States     America      Europe       Consolidated
         -----------------------------------------    -------------     -------------     -------      ------       ------------
         <S>                                          <C>               <C>               <C>          <C>          <C>
         2000
         Total revenue                                $1,085,838        $362,044          $136,492     $105,965     $1,690,339
         Intersegment revenue                            (11,812)           (764)                0            0        (12,576)
                                                      ----------        --------          --------     --------     ----------
         Sales to customers outside the enterprise    $1,074,026        $361,280          $136,492     $105,965     $1,677,763
                                                      ----------        --------          --------     --------     ----------
         Segment operating profit (loss)              $  (44,951)       $ 24,394          $  4,246     $   (889)    $  (17,200)
         General corporate expenses                                                                                      1,083
                                                                                                                    ----------
         Loss from operations                                                                                       $  (16,117)
         Segment assets                               $1,051,124        $314,844          $102,504     $110,361     $1,578,833
         Corporate assets including investments                                                                        253,125
                                                                                                                    ----------
         Total assets                                                                                               $1,831,958
                                                                                                                    ----------
         Provision for restructuring costs            $    4,843        $    315          $    188     $   (291)    $    5,055
         Corporate adjustment                                                                                              (60)
                                                                                                                    ----------
         Total Provision for restructuring                                                                          $    4,995
                                                      ----------        --------          --------     --------     ----------
         Capital asset amortization                   $   50,618        $ 22,518          $  4,970     $  5,590     $   83,696
         Capital expenditures                         $   29,127        $ 16,122          $  5,142     $ 10,280     $   60,671
                                                      ----------        --------          --------     --------     ----------
         1999

         Total revenue                                $1,171,225        $383,317          $118,737     $119,131     $1,792,410
         Intersegment revenue                            (13,824)           (657)                -            -        (14,481)
                                                      ----------        --------          --------     --------     ----------
         Sales to customers outside the enterprise    $1,157,401        $382,660          $118,737     $119,131     $1,777,929
                                                      ----------        --------          --------     --------     ----------
         Segment operating profit (loss)              $   12,812        $ 26,639          $    326     $  2,414     $   42,191
                                                      ----------        --------          --------     --------
         General corporate expenses                                                                                     (1,655)
                                                                                                                    ----------
         Income from operations                                                                                     $   40,536
                                                                                                                    ----------
         Segment assets                               $  876,728        $205,901          $ 90,300     $133,685     $1,306,614
                                                      ----------        --------          --------     --------
         Corporate assets including investments                                                                        333,966
                                                                                                                    ----------
         Total assets                                                                                               $1,640,580
                                                                                                                    ----------
         Capital asset amortization                    $  42,606        $ 25,480          $  4,581     $  6,889     $   79,556
         Capital expenditures                          $  37,970        $ 17,476          $  6,465     $  5,213     $   67,124
                                                      ----------        --------          --------     --------     ----------
</TABLE>

                      12                                                     13


<PAGE>



3.   PROVISION FOR RESTRUCTURING COSTS

         In 1998, the Corporation incurred a pre-tax charge of $615 million,
     $531 million after tax, related to a restructuring plan directed at
     reducing costs and restoring profitability to the Forms business, and
     increasing profitability of the Customer Communication Services
     businesses. The key restructuring actions include the integration of
     North American operations, the disposal of non-strategic assets, and
     exiting of certain unprofitable products.

         In the fourth quarter of 1999, the Corporation reversed $68 million
     of charges, $48 million after tax, under the 1998 restructuring plan.
     The reversal was primarily the result of: the favourable settlement of
     liabilities for obligations and future payments related to the
     disposition of the European and Australasia Forms businesses; negotiated
     costs to exit customer contracts and lease agreements under several
     actions were lower than originally planned; the decision to sell rather
     than restructure the Moore Data Management Services business; and the
     decision to not fully implement certain restructuring actions under the
     plan, including the sale of certain North American businesses.

         On January 1, 2000, as a result of CICA Section 3461 - Employee
     Future Benefits, $68 million of termination liabilities, $46 million
     after tax, accrued under the 1998 restructuring program were reversed
     into retained earnings. In the first nine months of 2000, $5.0 million
     of these termination liabilities have met the criteria for recognition
     and have been charged to current earnings.

         Included in the balance sheet at September 30, 2000 are accounts
     payable and accruals of $52.4 million and deferred income taxes and
     liabilities of $24.1 million related to the restructuring program. The
     carrying value of remaining assets held for disposal as at September 30,
     2000 is $9.0 million. Included in the Corporation's results of
     operations for the nine months ended September 30 are sales of $31.6
     million (1999 - $29.5 million) and income from operations of $1.6
     million (1999 - $0.6 million loss) from businesses to be exited under
     the restructuring program.

         Approximately 4,119 employees have left the Corporation as a result
     of restructuring actions implemented to date, representing 2,600 due to
     divestitures and 1,519 from other restructuring activities.

4.   CAPITALIZED SOFTWARE

     The Corporation's capitalized software costs, on a consolidated basis,
     as at September 30, 2000 is $145 million. The Corporation is currently
     conducting an internal review of its Enterprise Resource Planning (ERP)
     system with the objective of maximizing benefit realization in the most
     timely manner possible. As part of this review process, the Corporation
     has decided to postpone deployment of a component of its ERP for its
     U.S.-based manufacturing facilities. As the ERP review is completed over
     the remainder of the year, decisions may be made to change other
     deployment plans or processes, which could result in a material
     reduction to the carrying value of the ERP asset that cannot be readily
     determined at this time.

5.   COMPARATIVE CONSOLIDATED FINANCIAL STATEMENTS

         Comparative figures have been restated where appropriate to conform
     to the current presentation.

                                       14


<PAGE>

CORPORATE
    INFORMATION

SHAREHOLDER ACCOUNT INQUIRIES

         Effective May 1, 2000 Montreal Trust Company of Canada became the
     Corporation's transfer agent. Subsequently Montreal Trust was sold to
     Computershare Investor Services, Inc. Computershare Investor Services
     operates a telephone inquiry line that can be reached by dialing
     toll-free 1-800-663-9097 or (416) 981-9633. Correspondence should be
     addressed to Moore Corporation Limited c/o Computershare Investor
     Services, Inc., 100 University Avenue, Toronto, Ontario M5J 2Y1.
     Shareholders can also e-mail Computershare Investor Services at
     faq@montrealtrust.com or visit their web page at www.montrealtrust.com.

DIVIDENDS

         Shareholders are reminded of the flexibility available on payment of
     the Corporation's dividends. While the Corporation's dividends are
     declared payable in United States funds, registered shareholders have
     the option of receiving dividends in equivalent Canadian funds, or
     participating in the Dividend Reinvestment and Share Purchase Plan. The
     Dividend Reinvestment Option allows shareholders to reinvest dividends
     automatically in additional shares of the Corporation. The Share
     Purchase Option provides shareholders a means to purchase shares by
     making cash payments. Further information regarding these options is
     available from Computershare Investor Services, Inc. or the Corporation.

INVESTOR RELATIONS

         Institutional and individual investors seeking financial information
     about the Corporation are invited to contact John Laurie, Vice President
     and Treasurer at the Corporate Office.

MANAGEMENT'S
           STATEMENT

         The financial information included in this report is unaudited, but
     in the opinion of management it reflects all adjustments that are
     necessary for a fair presentation of the financial position, results of
     operations and changes in cash flows for the interim periods.

FORWARD LOOKING STATEMENT

         This interim report contains statements relating to future results
     of the Corporation (including certain anticipated, planned, forecasted,
     expected, targeted, believed and estimated results and the Corporation's
     outlook concerning future results) that are "forward-looking statements"
     as defined in the U.S. Private Securities Litigation Reform Act of 1995.
     Readers are cautioned not to place undue reliance on these
     forward-looking statements and any such forward-looking statements are
     qualified in their entirety by reference to the following cautionary
     statements. All forward-looking statements speak only as of the date
     hereof and are based on current expectations and involve a number of
     assumptions, risks and uncertainties that could cause the actual results
     to differ materially from such forward-looking statements. Factors that
     could cause such material differences include, without limitation, the
     following: the successful completion of the restructuring program
     announced in 1998 within the time frame anticipated to execute the
     respective restructuring actions and achieving the associated benefits,
     the successful implementation of the cost reduction program that
     commenced in the first quarter of 2000, the successful implementation of
     the ERP system within anticipated time frames and achieving associated
     benefits, the effects of paper price fluctuations on the Corporation's
     Forms operations, successful execution of key strategies (including the
     digital and Internet strategies), the rate of migration from paper-based
     forms to digital formats, maintenance of growth rates in Customer
     Communication Services businesses, the impact of currency fluctuations
     in the countries in which the Corporation operates, general economic and
     other factors beyond the Corporation's control, and other assumptions,
     risks and uncertainties described from time to time in the Corporation's
     periodic filings with Securities Regulators.


                                       15

<PAGE>


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Moore Corporation Limited
1 First Canadian Place
P.O. Box 78
Toronto, Ontario
M5X 1G5


Internet: http://www.moore.com
Tel: (416) 364-2600
Fax: (416) 364-1667


Printed on recycled paper containing post-consumer
waste, with environmentally friendly vegetable inks.
Printed in Canada