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                                                                     Exhibit 4.4

                                                               EXECUTION VERSION

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                          REGISTRATION RIGHTS AGREEMENT

                            VON HOFFMANN CORPORATION

                                    as Issuer

                           VON HOFFMANN HOLDINGS, INC.
                               H&S GRAPHICS, INC.
                                  PREFACE, INC.
                                       AND
                     PRECISION OFFSET PRINTING COMPANY, INC.

                                  as Guarantors

                               -------------------

                    $60,000,000 10 1/4% Senior Notes Due 2009
                          Dated as of October 22, 2003

                               -------------------

                         CREDIT SUISSE FIRST BOSTON LLC

                              as Initial Purchaser

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       Von Hoffmann Corporation, a Delaware corporation (the "ISSUER"), proposes
to issue and sell to Credit Suisse First Boston LLC (the "INITIAL PURCHASER"),
upon the terms set forth in a purchase agreement dated October 7, 2003 (the
"PURCHASE AGREEMENT"), $60,000,000 in aggregate principal amount of its 10 1/4%
Senior Notes due 2009 (the "NOTES"), to be guaranteed (the "GUARANTEES", and
together with the Notes, the "OFFERED SECURITIES") by Von Hoffmann Holdings,
Inc. (so long as it is a guarantor under the Credit Facilities (as defined in
the Offering Document (as defined in the Purchase Agreement)), a Delaware
corporation; H&S Graphics, Inc., a Delaware corporation; Preface, Inc., a
Delaware corporation; and Precision Offset Printing Company, Inc., a Delaware
corporation (collectively, the "GUARANTORS" and, together with the Issuer, the
"COMPANY"). The Offered Securities will be issued pursuant to an Indenture,
dated as of March 26, 2002 and as supplemented on December 19, 2002 (the
"INDENTURE"), among the Issuer, the Guarantors and U.S. Bank National
Association, as trustee (the "TRUSTEE"). As an inducement to the Initial
Purchaser to enter into the Purchase Agreement, the Company agrees with the
Initial Purchaser, for the benefit of the Initial Purchaser and the holders of
the Securities (as defined below) (collectively the "HOLDERS"), as follows:

       1. REGISTERED EXCHANGE OFFER. Unless not permitted by applicable law
(after the Company has complied with the ultimate paragraph of this Section 1),
the Company shall prepare and, on or prior to 90 days (such 90th day being a
"FILING DEADLINE") after the date on which the Initial Purchaser purchases the
Offered Securities pursuant to the Purchase Agreement (the "CLOSING DATE"), file
with the Securities and Exchange Commission (the "COMMISSION") a registration
statement (the "EXCHANGE OFFER REGISTRATION STATEMENT") on an appropriate form
under the Securities Act of 1933, as amended (the "SECURITIES ACT"), with
respect to a proposed offer (the "EXCHANGE OFFER") to the Holders of Transfer
Restricted Securities (as defined in Section 6 hereof), who are not prohibited
by any law or policy of the Commission from participating in the Exchange Offer,
to issue and deliver to such Holders, in exchange for the Offered Securities, a
like aggregate principal amount of debt securities of the Issuer and guarantees
of the Guarantors issued under the Indenture, identical in all material respects
to the Offered Securities and registered under the Securities Act (the "EXCHANGE
NOTES"). The Company shall (i) use its reasonable best efforts to have such
Exchange Offer Registration Statement declared effective by the Commission under
the Securities Act on or prior to 180 days after the Closing Date and (ii)
unless the Exchange Offer would not be permitted by applicable law or Commission
policy, the Company will, following the declaration of the effectiveness of the
Exchange Offer Registration Statement (a) commence the Exchange Offer and (b)
use its reasonable best efforts to issue on or prior to 35 business days after
the date on which the Exchange Offer Registration Statement was declared
effective by the Commission, Exchange Notes, in exchange for all Offered
Securities tendered prior to thereto in the Exchange Offer (such period being
called the "EXCHANGE OFFER REGISTRATION PERIOD").

       Following the declaration of the effectiveness of the Exchange Offer
Registration Statement, the Company shall promptly commence the Exchange Offer,
it being the objective of such Exchange Offer to enable each Holder of Transfer
Restricted Securities, electing to exchange the Offered Securities for Exchange
Notes (assuming that such Holder is not an affiliate of the Company within the
meaning of the Securities Act, acquires the Exchange Notes in the ordinary
course of such Holder's business and has no arrangements with any person to
participate in the distribution of the Exchange Notes and is not prohibited by
any law or policy of the Commission from participating in the Registered
Exchange Offer), to trade such Exchange

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Notes from and after their receipt without any limitations or restrictions under
the Securities Act and without material restrictions under the securities laws
of the several states of the United States.

       The Company acknowledges that, pursuant to current interpretations by the
Commission's staff of Section 5 of the Securities Act, in the absence of an
applicable exemption therefrom, (i) each Holder which is a broker-dealer
electing to exchange Offered Securities, acquired for its own account as a
result of market making activities or other trading activities, for Exchange
Notes (an "EXCHANGING DEALER"), is required to deliver a prospectus containing
the information set forth in (a) Annex A hereto on the cover, (b) Annex B hereto
in the "Exchange Offer Procedures" section and the "Purpose of the Exchange
Offer" section, and (c) Annex C hereto in the "Plan of Distribution" section of
such prospectus in connection with a sale of any such Exchange Notes received by
such Exchanging Dealer pursuant to the Registered Exchange Offer and (ii) an
Initial Purchaser that elects to sell Securities (as defined below) acquired in
exchange for Offered Securities constituting any portion of an unsold allotment,
is required to deliver a prospectus containing the information required by Items
507 or 508 of Regulation S-K under the Securities Act, as applicable, in
connection with such sale.

       Subject to the next paragraph, for so long as any of the Securities are
outstanding and if, in the reasonable judgment of the Initial Purchaser or its
counsel, the Initial Purchaser or any of its affiliates (as defined in the rules
and regulations under the Securities Act) is required to deliver a prospectus
(any such prospectus, a "MARKET MAKING PROSPECTUS") in connection with sales of
the Securities, to (i) provide the Initial Purchaser and its affiliates, without
charge, as many copies of the Market Making Prospectus as they may reasonably
request, (ii) periodically amend the Offering Document (as defined in the
Purchase Agreement) and the Exchange Offer Registration Statement so that the
information contained therein complies with the requirements of Section 10(a) of
the Securities Act, (iii) amend the Exchange Offer Registration Statement or
amend or supplement the Market Making Prospectus when necessary to reflect any
material changes in the information provided therein and promptly file such
amendment or supplement with the Commission, (iv) provide the Initial Purchaser
and its affiliates with copies of each amendment or supplement so filed and such
other documents, including opinions of counsel and "comfort" letters, as they
may reasonably request and (v) indemnify the Initial Purchaser and its
affiliates with respect to the Market Making Prospectus and, if applicable,
contribute to any amount paid or payable by the Initial Purchaser and its
affiliates in a manner substantially identical to that specified in Section 7 of
the Purchase Agreement (with appropriate modifications). The Company consents to
the use, subject to the provisions of the Securities Act and the state
securities or "blue sky" laws of the jurisdictions in which the Offered
Securities are offered by the Initial Purchaser, of each Market Making
Prospectus.

       The Company shall use its reasonable best efforts to keep the Exchange
Offer Registration Statement effective and to amend and supplement the
prospectus contained therein, in order to permit such prospectus to be lawfully
delivered by all persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as such persons must comply with such
requirements in order to resell the Exchange Notes; PROVIDED, HOWEVER, that (i)
in the case where such prospectus and any amendment or supplement thereto must
be delivered by an Exchanging Dealer or the Initial Purchaser, such period shall
be the lesser of 180 days and the date on which all Exchanging Dealers and the
Initial Purchaser have sold all

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Exchange Notes held by them (unless such period is extended pursuant to Section
3(j) below) and (ii) the Company shall make such prospectus and any amendment or
supplement thereto available to any broker-dealer for use in connection with any
resale of any Exchange Notes for a period of not less than 180 days after the
consummation of the Registered Exchange Offer.

       If, upon consummation of the Exchange Offer, the Initial Purchasers hold
Offered Securities acquired by them as part of their initial distribution, the
Company, simultaneously with the delivery of the Exchange Notes pursuant to the
Exchange Offer, shall issue and deliver to the Initial Purchasers upon the
written request of the Initial Purchasers, in exchange (the "PRIVATE EXCHANGE")
for the Offered Securities held by the Initial Purchasers, a like principal
amount of debt securities of the Company issued under the Indenture and
identical in all material respects to the Offered Securities (the "PRIVATE
EXCHANGE NOTES"). The Offered Securities, the Exchange Notes and the Private
Exchange Notes are herein collectively called the "SECURITIES."

       In connection with the Exchange Offer, the Company shall:

              (a) mail to each Holder a copy of the prospectus forming part of
       the Exchange Offer Registration Statement, together with an appropriate
       letter of transmittal and related documents;

              (b) keep the Exchange Offer open for not less than 25 business
       days (or longer, if required by applicable law) after the date notice
       thereof is mailed to the Holders;

              (c) utilize the services of a depositary for the Exchange Offer
       with an address in the Borough of Manhattan, The City of New York, which
       may be the Trustee or an affiliate of the Trustee;

              (d) permit Holders to withdraw tendered Securities at any time
       prior to the close of business, New York time, on the last business day
       on which the Exchange Offer shall remain open; and

              (e) otherwise comply with all applicable laws.

       As soon as practicable after the close of the Exchange Offer or the
Private Exchange, as the case may be, the Company shall:

              (x) accept for exchange all the Securities validly tendered and
       not withdrawn pursuant to the Registered Exchange Offer and the Private
       Exchange;

              (y) deliver to the Trustee for cancellation all the Offered
       Securities so accepted for exchange; and

              (z) cause the Trustee to authenticate and deliver promptly to each
       Holder of the Offered Securities, Exchange Notes or Private Exchange
       Notes, as the case may be, equal in principal amount to the Offered
       Securities of such Holder so accepted for exchange.

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       The Indenture will provide that the Exchange Notes will not be subject to
the transfer restrictions set forth in the Indenture and that all the Securities
will vote and consent together on all matters as one class and that none of the
Securities will have the right to vote or consent as a class separate from one
another on any matter.

       Interest on each Exchange Note and Private Exchange Note issued pursuant
to the Registered Exchange Offer and in the Private Exchange will accrue from
the last interest payment date on which interest was paid on the Offered
Securities surrendered in exchange therefor or, if no interest has been paid on
the Offered Securities, from August 15, 2003.

       Each Holder participating in the Registered Exchange Offer shall be
required to represent to the Company that at the time of the consummation of the
Registered Exchange Offer (i) any Exchange Notes received by such Holder will be
acquired in the ordinary course of business, (ii) such Holder will have no
arrangements or understanding with any person to participate in the distribution
of the Securities or the Exchange Notes within the meaning of the Securities
Act, (iii) such Holder is not an "affiliate," as defined in Rule 405 of the
Securities Act, of the Company or if it is an affiliate, such Holder will comply
with the registration and prospectus delivery requirements of the Securities Act
to the extent applicable, (iv) if such Holder is not a broker-dealer, that it is
not engaged in, and does not intend to engage in, the distribution of the
Exchange Notes and (v) if such Holder is a broker-dealer, that it will receive
Exchange Notes for its own account in exchange for Offered Securities that were
acquired as a result of market-making activities or other trading activities and
that it will be required to acknowledge that it will deliver a prospectus in
connection with any resale of such Exchange Notes.

       Notwithstanding any other provisions hereof, the Company will ensure that
(i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all
material respects with the Securities Act and the rules and regulations
thereunder, (ii) any Exchange Offer Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any prospectus
forming part of any Exchange Offer Registration Statement, and any supplement to
such prospectus, does not include an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary in order to
make the statements therein, in the light of the circumstances under which they
were made, not misleading.

       If following the date hereof there has been announced a change in
Commission policy with respect to exchange offers that in the reasonable opinion
of counsel to the Company raises a substantial question as to whether the
Registered Exchange Offer is permitted by applicable federal law, the Company
will seek a no-action letter or other favorable decision from the Commission
allowing the Company to consummate the Registered Exchange Offer. The Company
will pursue the issuance of such a decision to the Commission staff level. In
connection with the foregoing, the Company will take all such other actions as
may be requested by the Commission or otherwise required in connection with the
issuance of such decision, including without limitation (i) participating in
telephonic conferences with the Commission, (ii) delivering to the Commission
staff an analysis prepared by counsel to the Company setting forth the legal
bases, if any, upon which such counsel has concluded that the Registered

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Exchange Offer should be permitted and (iii) diligently pursuing a resolution
(which need not be favorable) by the Commission staff.

       2. SHELF REGISTRATION. If, (i) the Company is not: (a) required to file
the Exchange Offer Registration Statement; or (b) permitted to consummate the
Exchange Offer because the Exchange Offer is not permitted by applicable law or
Commission policy; or (ii) any holder of Transfer Restricted Securities notifies
the Issuer prior to the 20th day following consummation of the Exchange Offer
that: (a) it is prohibited by law or Commission policy from participating in the
Exchange Offer; or (b) that it may not resell the Exchange Notes acquired by it
in the Exchange Offer to the public without delivering a prospectus and the
prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales; or (c) that it is a broker-dealer and
owns Securities acquired directly from the Company or an affiliate of the
Company, then the Company shall take the following actions (the date on which
any of the conditions described in the foregoing clauses (i) and (ii) occur,
being a "TRIGGER DATE"):

              (a) The Company shall file a registration statement (the "SHELF
       REGISTRATION STATEMENT") with the Commission and use its reasonable best
       efforts to cause such filing to be made on or prior to 35 days after such
       filing obligation arises and to cause the Shelf Registration Statement to
       be declared effective by the Commission under the Securities Act, on or
       prior to 75 days after such filing. The Shelf Registration Statement and
       the Exchange Offer Registration Statement are referred to herein as a
       "REGISTRATION STATEMENT." The Shelf Registration Statement shall be filed
       on an appropriate form under the Securities Act relating to the offer and
       sale of the Transfer Restricted Securities by the Holders thereof from
       time to time in accordance with the methods of distribution set forth in
       the Shelf Registration Statement and Rule 415 under the Securities Act
       (hereinafter, the "SHELF REGISTRATION"); PROVIDED, HOWEVER, that no
       Holder (other than an Initial Purchaser) shall be entitled to have the
       Securities held by it covered by such Shelf Registration Statement unless
       such Holder agrees in writing to be bound by all the provisions of this
       Agreement applicable to such Holder.

              (b) The Company shall use its reasonable best efforts to keep the
       Shelf Registration Statement continuously effective in order to permit
       the prospectus included therein to be lawfully delivered by the Holders
       of the relevant Securities, for a period of two years (or for such longer
       period if extended pursuant to Section 3(j) below) from the date of its
       effectiveness or such shorter period that will terminate when all the
       Securities covered by the Shelf Registration Statement (i) have been sold
       pursuant thereto or (ii) are no longer restricted securities (as defined
       in Rule 144 under the Securities Act, or any successor rule thereof). The
       Company shall be deemed not to have used its reasonable best efforts to
       keep the Shelf Registration Statement effective during the requisite
       period if it voluntarily takes any action that would result in Holders of
       Securities covered thereby not being able to offer and sell such
       Securities during that period, unless such action is in the judgment of
       counsel for the Company required by applicable law.

              (c) Notwithstanding any other provisions of this Agreement to the
       contrary, the Company shall cause the Shelf Registration Statement and
       the related prospectus and any amendment or supplement thereto, as of the
       effective date of the Shelf Registration Statement, amendment or
       supplement, (i) to comply in all material respects with the

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       applicable requirements of the Securities Act and the rules and
       regulations of the Commission and (ii) not to contain any untrue
       statement of a material fact or omit to state a material fact required to
       be stated therein or necessary in order to make the statements therein,
       in light of the circumstances under which they were made, not misleading.

       3. REGISTRATION PROCEDURES. In connection with any Shelf Registration
contemplated by Section 2 hereof and, to the extent applicable, any Exchange
Offer contemplated by Section 1 hereof, the following provisions shall apply:

              (a) The Company shall (i) furnish to the Initial Purchaser, prior
       to the filing thereof with the Commission, a copy of the Registration
       Statement and each amendment thereof and each supplement, if any, to the
       prospectus included therein and, in the event that the Initial Purchaser
       (with respect to any portion of an unsold allotment from the original
       offering) is participating in the Exchange Offer or the Shelf
       Registration Statement, the Company shall use its reasonable best efforts
       to reflect in each such document, when so filed with the Commission, such
       comments as the Initial Purchaser reasonably may propose; (ii) include
       the information set forth in Annex A hereto on the cover, in Annex B
       hereto in the "Exchange Offer Procedures" section and the "Purpose of the
       Exchange Offer" section and in Annex C hereto in the "Plan of
       Distribution" section of the prospectus forming a part of the Exchange
       Offer Registration Statement and include the information set forth in
       Annex D hereto in the Letter of Transmittal delivered pursuant to the
       Registered Exchange Offer; (iii) if requested by the Initial Purchaser,
       include the information required by Items 507 or 508 of Regulation S-K
       under the Securities Act, as applicable, in the prospectus forming a part
       of the Exchange Offer Registration Statement; (iv) include within the
       prospectus contained in the Exchange Offer Registration Statement a
       section entitled "Plan of Distribution," reasonably acceptable to the
       Initial Purchaser, which shall contain a summary statement of the
       positions taken or policies made by the staff of the Commission with
       respect to the potential "underwriter" status of any broker-dealer that
       is the beneficial owner (as defined in Rule 13d-3 under the Securities
       Exchange Act of 1934, as amended (the "Exchange Act")) of Exchange Notes
       received by such broker-dealer in the Registered Exchange Offer (a
       "PARTICIPATING BROKER-DEALER"), whether such positions or policies have
       been publicly disseminated by the staff of the Commission or such
       positions or policies, in the reasonable judgment of the Initial
       Purchaser based upon advice of counsel (which may be in-house counsel),
       represent the prevailing views of the staff of the Commission; and (v) in
       the case of a Shelf Registration Statement, include the names of the
       Holders who propose to sell Securities pursuant to the Shelf Registration
       Statement as selling securityholders.

              (b) The Company shall give written notice to the Initial
       Purchaser, the Holders of the Securities and any Participating
       Broker-Dealer from whom the Company has received prior written notice
       that it will be a Participating Broker-Dealer in the Registered Exchange
       Offer (which notice pursuant to clauses (ii)-(v) hereof shall be
       accompanied by an instruction to suspend the use of the prospectus until
       the requisite changes have been made):

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              (i) when the Registration Statement or any amendment thereto has
       been filed with the Commission and when the Registration Statement or any
       post-effective amendment thereto has become effective;

              (ii) of any request by the Commission for amendments or
       supplements to the Registration Statement or the prospectus included
       therein or for additional information;

              (iii) of the issuance by the Commission of any stop order
       suspending the effectiveness of the Registration Statement or the
       initiation of any proceedings for that purpose;

              (iv) of the receipt by the Company or its legal counsel of any
       notification with respect to the suspension of the qualification of the
       Securities for sale in any jurisdiction or the initiation or threatening
       of any proceeding for such purpose; and

              (v) of the happening of any event that requires the Company to
       make changes in the Registration Statement or the prospectus in order
       that the Registration Statement or the prospectus does not contain an
       untrue statement of a material fact nor omit to state a material fact
       required to be stated therein or necessary to make the statements therein
       (in the case of the prospectus, in light of the circumstances under which
       they were made) not misleading.

       (c) The Company shall make every reasonable effort to obtain the
withdrawal at the earliest possible time, of any order suspending the
effectiveness of the Registration Statement.

       (d) The Company shall furnish to each Holder of Securities included
within the coverage of the Shelf Registration, without charge, at least one copy
of the Shelf Registration Statement and any post-effective amendment thereto,
including financial statements and schedules, and, if the Holder so requests in
writing, all exhibits thereto (including those, if any, incorporated by
reference).

       (e) The Company shall deliver to each Exchanging Dealer and the Initial
Purchaser, and to any other Holder who so requests, without charge, at least one
copy of the Exchange Offer Registration Statement and any post-effective
amendment thereto, including financial statements and schedules, and, if the
Initial Purchaser or any such Holder requests, all exhibits thereto (including
those incorporated by reference).

       (f) The Company shall, during the Shelf Registration Period, deliver to
each Holder of Securities included within the coverage of the Shelf
Registration, without charge, as many copies of the prospectus (including each
preliminary prospectus) included in the Shelf Registration Statement and any
amendment or supplement thereto as such person may reasonably request. The
Company consents, subject to the provisions of this Agreement, to the use of the
prospectus or any amendment or supplement thereto by each of the selling Holders
of the Securities in connection with the offering and sale of

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       the Securities covered by the prospectus, or any amendment or supplement
       thereto, included in the Shelf Registration Statement.

              (g) The Company shall deliver to the Initial Purchaser, any
       Exchanging Dealer, any Participating Broker-Dealer and such other persons
       required to deliver a prospectus following the Registered Exchange Offer,
       without charge, as many copies of the final prospectus included in the
       Exchange Offer Registration Statement and any amendment or supplement
       thereto as such persons may reasonably request. The Company consents,
       subject to the provisions of this Agreement, to the use of the prospectus
       or any amendment or supplement thereto by the Initial Purchaser, if
       necessary, any Participating Broker-Dealer and such other persons
       required to deliver a prospectus following the Registered Exchange Offer
       in connection with the offering and sale of the Exchange Notes covered by
       the prospectus, or any amendment or supplement thereto, included in such
       Exchange Offer Registration Statement.

              (h) Prior to any public offering of the Securities pursuant to any
       Registration Statement, the Company shall register or qualify or
       cooperate with the Holders of the Securities included therein and their
       respective counsel in connection with the registration or qualification
       of the Securities for offer and sale under the securities or "blue sky"
       laws of such states of the United States as any Holder of the Securities
       reasonably requests in writing and do any and all other acts or things
       necessary or advisable to enable the offer and sale in such jurisdictions
       of the Securities covered by such Registration Statement; PROVIDED,
       HOWEVER, that the Company shall not be required to (i) qualify generally
       to do business in any jurisdiction where it is not then so qualified or
       (ii) take any action which would subject it to general service of process
       or to taxation in any jurisdiction where it is not then so subject.

              (i) The Company shall cooperate with the Holders of the Securities
       to facilitate the timely preparation and delivery of certificates
       representing the Securities to be sold pursuant to any Registration
       Statement free of any restrictive legends and in such denominations and
       registered in such names as the Holders may request a reasonable period
       of time prior to sales of the Securities pursuant to such Registration
       Statement.

              (j) Upon the occurrence of any event contemplated by paragraphs
       (ii) through (v) of Section 3(b) above during the period for which the
       Company is required to maintain an effective Registration Statement, the
       Company shall promptly prepare and file a post-effective amendment to the
       Registration Statement or a supplement to the related prospectus and any
       other required document so that, as thereafter delivered to Holders of
       the Securities or purchasers of Securities, the prospectus will not
       contain an untrue statement of a material fact or omit to state any
       material fact required to be stated therein or necessary to make the
       statements therein, in light of the circumstances under which they were
       made, not misleading. If the Company notifies the Initial Purchaser, the
       Holders of the Securities and any known Participating Broker-Dealer in
       accordance with paragraphs (ii) through (v) of Section 3(b) above to
       suspend the use of the prospectus until the requisite changes to the
       prospectus have been made, then the Initial Purchaser, the Holders of the
       Securities and any such Participating Broker-Dealers shall suspend use of
       such prospectus, and the period of effectiveness of the Shelf
       Registration Statement

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       provided for in Section 2(b) above and the Exchange Offer Registration
       Statement provided for in Section 1 above shall each be extended by the
       number of days from and including the date of the giving of such notice
       to and including the date when the Initial Purchaser, the Holders of the
       Securities and any known Participating Broker-Dealer shall have received
       such amended or supplemented prospectus pursuant to this Section 3(j).

              (k) Not later than the effective date of the applicable
       Registration Statement, the Company will provide a CUSIP number for the
       Offered Securities, the Exchange Notes or the Private Exchange Notes, as
       the case may be, and provide the applicable trustee with printed
       certificates for the Offered Securities, the Exchange Notes or the
       Private Exchange Notes, as the case may be, in a form eligible for
       deposit with The Depository Trust Company.

              (l) The Company will comply with all rules and regulations of the
       Commission to the extent and so long as they are applicable to the
       Registered Exchange Offer or the Shelf Registration and will make
       generally available to its security holders (or otherwise provide in
       accordance with Section 11(a) of the Securities Act) an earnings
       statement satisfying the provisions of Section 11(a) of the Securities
       Act, no later than 45 days after the end of a 12-month period (or 90
       days, if such period is a fiscal year) beginning with the first month of
       the Company's first fiscal quarter commencing after the effective date of
       the Registration Statement, which statement shall cover such 12-month
       period.

              (m) The Company shall cause the Indenture to be qualified under
       the Trust Indenture Act of 1939, as amended, in a timely manner and
       containing such changes, if any, as shall be necessary for such
       qualification. In the event that such qualification would require the
       appointment of a new trustee under the Indenture, the Company shall
       appoint a new trustee thereunder pursuant to the applicable provisions of
       the Indenture.

              (n) The Company may require each Holder of Securities to be sold
       pursuant to the Shelf Registration Statement to furnish to the Company
       such information regarding the Holder and the distribution of the
       Securities as the Company may from time to time reasonably require for
       inclusion in the Shelf Registration Statement, and the Company may
       exclude from such registration the Securities of any Holder that
       unreasonably fails to furnish such information within a reasonable time
       after receiving such request.

              (o) The Company shall enter into such customary agreements
       (including, if requested, an underwriting agreement in customary form)
       and take all such other action, if any, as any Holder of the Securities
       shall reasonably request in order to facilitate the disposition of the
       Securities pursuant to any Shelf Registration.

              (p) In the case of any Shelf Registration, the Company shall (i)
       make reasonably available for inspection by the Holders of the
       Securities, any underwriter participating in any disposition pursuant to
       the Shelf Registration Statement and any attorney, accountant or other
       agent retained by the Holders of the Securities or any such underwriter
       all relevant financial and other records, pertinent corporate documents
       and properties of the Company and (ii) cause the Company's officers,
       directors, employees,

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       accountants and auditors to supply all relevant information reasonably
       requested by the Holders of the Securities or any such underwriter,
       attorney, accountant or agent in connection with the Shelf Registration
       Statement, in each case as shall be reasonably necessary to enable such
       persons, to conduct a reasonable investigation within the meaning of
       Section 11 of the Securities Act; PROVIDED, HOWEVER, that the foregoing
       inspection and information gathering shall be coordinated on behalf of
       the Initial Purchaser by you and on behalf of the other parties, by one
       counsel designated by and on behalf of such other parties as described in
       Section 4 hereof.

              (q) In the case of any Shelf Registration, the Company, if
       requested by any Holder of Securities covered thereby, shall cause (i)
       its counsel to deliver an opinion and updates thereof relating to the
       Securities in customary form addressed to such Holders and the managing
       underwriters, if any, thereof and dated, in the case of the initial
       opinion, the effective date of such Shelf Registration Statement (it
       being agreed that the matters to be covered by such opinion shall
       include, without limitation, the due incorporation and good standing of
       the Company and its subsidiaries; the qualification of the Company and
       its subsidiaries to transact business as foreign corporations; the due
       authorization, execution and delivery of the relevant agreement of the
       type referred to in Section 3(o) hereof; the due authorization,
       execution, authentication and issuance, and the validity and
       enforceability, of the applicable Securities; the absence of material
       legal or governmental proceedings involving the Company and its
       subsidiaries; the absence of governmental approvals required to be
       obtained in connection with the Shelf Registration Statement, the
       offering and sale of the applicable Securities, or any agreement of the
       type referred to in Section 3(o) hereof; the compliance as to form of
       such Shelf Registration Statement and any documents incorporated by
       reference therein and of the Indenture with the requirements of the
       Securities Act and the Trust Indenture Act, respectively; and, as of the
       date of the opinion and as of the effective date of the Shelf
       Registration Statement or most recent post-effective amendment thereto,
       as the case may be, the absence from such Shelf Registration Statement
       and the prospectus included therein, as then amended or supplemented, and
       from any documents incorporated by reference therein, of an untrue
       statement of a material fact or the omission to state therein a material
       fact required to be stated therein or necessary to make the statements
       therein not misleading (in the case of any such documents, in the light
       of the circumstances existing at the time that such documents were filed
       with the Commission under the Exchange Act); (ii) its officers to execute
       and deliver all customary documents and certificates and updates thereof
       requested by any underwriters of the applicable Securities and (iii) its
       independent public accountants to provide to the selling Holders of the
       applicable Securities and any underwriter therefor a comfort letter in
       customary form and covering matters of the type customarily covered in
       comfort letters in connection with primary underwritten offerings,
       subject to receipt of appropriate documentation as contemplated, and only
       if permitted, by Statement of Auditing Standards No. 72.

              (r) In connection with a resale under the Exchange Offering
       Registration Statement, if requested by the Initial Purchaser or any
       known Participating Broker-Dealer, the Company shall cause (i) its
       counsel to deliver to the Initial Purchaser or such Participating
       Broker-Dealer a signed opinion in the form set forth in Section 6(c) of
       the Purchase Agreement with such changes as are customary in connection
       with the

                                       11
<Page>

       preparation of a Registration Statement and (ii) its independent public
       accountants to deliver to such Initial Purchaser or such Participating
       Broker-Dealer a comfort letter, in customary form, meeting the
       requirements as to the substance thereof as set forth in Section 6(a) of
       the Purchase Agreement, with appropriate date changes.

              (s) If an Exchange Offer or a Private Exchange is to be
       consummated, upon delivery of the Offered Securities by Holders to the
       Company (or to such other Person as directed by the Company) in exchange
       for the Exchange Notes or the Private Exchange Notes, as the case may be,
       the Company shall mark, or caused to be marked, on the Offered Securities
       so exchanged that such Offered Securities are being canceled in exchange
       for the Exchange Notes or the Private Exchange Notes, as the case may be;
       in no event shall the Offered Securities be marked as paid or otherwise
       satisfied.

              (t) The Company will use its reasonable best efforts to (a) if the
       Offered Securities have been rated prior to the initial sale of such
       Offered Securities, confirm such ratings will apply to the Securities
       covered by a Registration Statement, or (b) if the Offered Securities
       were not previously rated, cause the Securities covered by a Registration
       Statement to be rated with the appropriate rating agencies, if so
       requested by Holders of a majority in aggregate principal amount of
       Securities covered by such Registration Statement, or by the managing
       underwriters, if any.

              (u) In the event that any broker-dealer registered under the
       Exchange Act shall underwrite any Securities or participate as a member
       of an underwriting syndicate or selling group or "assist in the
       distribution" (within the meaning of the Conduct Rules (the "RULES") of
       the National Association of Securities Dealers, Inc. ("NASD")) thereof,
       whether as a Holder of such Securities or as an underwriter, a placement
       or sales agent or a broker or dealer in respect thereof, or otherwise,
       the Company will assist such broker-dealer in complying with the
       requirements of such Rules, including, without limitation, by (i) if such
       Rules, including Rule 2720, shall so require, engaging a "qualified
       independent underwriter" (as defined in Rule 2720) to participate in the
       preparation of the Registration Statement relating to such Securities, to
       exercise usual standards of due diligence in respect thereto and, if any
       portion of the offering contemplated by such Registration Statement is an
       underwritten offering or is made through a placement or sales agent, to
       recommend the yield of such Securities, (ii) indemnifying any such
       qualified independent underwriter to the extent of the indemnification of
       underwriters provided in Section 5 hereof and (iii) providing such
       information to such broker-dealer as may be required in order for such
       broker-dealer to comply with the requirements of the Rules.

              (v) The Company shall use its reasonable best efforts to take all
       other steps necessary to effect the registration of the Securities
       covered by a Registration Statement contemplated hereby.

       4. REGISTRATION EXPENSES.

                                       12
<Page>

              (a) All expenses incident to the Company's performance of and
       compliance with this Agreement will be borne by the Company, regardless
       of whether a Registration Statement is ever filed or becomes effective,
       including without limitation:

                     (i) all registration and filing fees and expenses;

                     (ii) all fees and expenses of compliance with federal
              securities and state "blue sky" or securities laws; (iii) all
              expenses of printing (including printing certificates for the
              Securities to be issued in the Exchange Offer and the Private
              Exchange and printing of prospectuses), messenger and delivery
              services and telephone;

                     (iv) all fees and disbursements of counsel for the Company;

                     (v) all application and filing fees in connection with
              listing the Exchange Notes on a national securities exchange or
              automated quotation system pursuant to the requirements hereof;
              and

                     (vi) all fees and disbursements of independent certified
              public accountants of the Company (including the expenses of any
              special audit and comfort letters required by or incident to such
              performance).

The Company will bear its internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or
accounting duties), the expenses of any annual audit and the fees and expenses
of any person, including special experts, retained by the Company.

              (b) In connection with any Registration Statement required by this
       Agreement, the Company will reimburse the Initial Purchaser and the
       Holders of Transfer Restricted Securities who are tendering Offered
       Securities in the Registered Exchange Offer and/or selling or reselling
       Securities pursuant to the "Plan of Distribution" contained in the
       Exchange Offer Registration Statement or the Shelf Registration
       Statement, as applicable, for the reasonable fees and disbursements of
       not more than one counsel, who shall be Latham & Watkins LLP unless
       another firm shall be chosen by the Holders of a majority in principal
       amount of the Transfer Restricted Securities for whose benefit such
       Registration Statement is being prepared.

       5. INDEMNIFICATION.

              (a) The Company agrees to indemnify and hold harmless each Holder
       of the Securities, any Participating Broker-Dealer and each person, if
       any, who controls such Holder or such Participating Broker-Dealer within
       the meaning of the Securities Act or the Exchange Act (each Holder, any
       Participating Broker-Dealer and such controlling persons are referred to
       collectively as the "INDEMNIFIED PARTIES") from and against any losses,
       claims, damages or liabilities, joint or several, or any actions in
       respect thereof (including, but not limited to, any losses, claims,
       damages, liabilities or actions relating to purchases and sales of the
       Securities) to which each Indemnified Party may become

                                       13
<Page>

       subject under the Securities Act, the Exchange Act or otherwise, insofar
       as such losses, claims, damages, liabilities or actions arise out of or
       are based upon any untrue statement or alleged untrue statement of a
       material fact contained in a Registration Statement or prospectus or in
       any amendment or supplement thereto or in any preliminary prospectus
       relating to a Shelf Registration, or arise out of, or are based upon, the
       omission or alleged omission to state therein a material fact required to
       be stated therein or necessary to make the statements therein not
       misleading, and shall reimburse, as incurred, the Indemnified Parties for
       any legal or other expenses reasonably incurred by them in connection
       with investigating or defending any such loss, claim, damage, liability
       or action in respect thereof; PROVIDED, HOWEVER, that (i) the Company
       shall not be liable in any such case to the extent that such loss, claim,
       damage or liability arises out of or is based upon any untrue statement
       or alleged untrue statement or omission or alleged omission made in a
       Registration Statement or prospectus or in any amendment or supplement
       thereto or in any preliminary prospectus relating to a Shelf Registration
       in reliance upon and in conformity with written information pertaining to
       such Holder and furnished to the Company by or on behalf of such Holder
       specifically for inclusion therein and (ii) with respect to any untrue
       statement or omission or alleged untrue statement or omission made in any
       preliminary prospectus relating to a Shelf Registration Statement, the
       indemnity agreement contained in this subsection (a) shall not inure to
       the benefit of any Holder or Participating Broker-Dealer from whom the
       person asserting any such losses, claims, damages or liabilities
       purchased the Securities concerned, to the extent that a prospectus
       relating to such Securities was required to be delivered by such Holder
       or Participating Broker-Dealer under the Securities Act in connection
       with such purchase and any such loss, claim, damage or liability of such
       Holder or Participating Broker-Dealer results from the fact that there
       was not sent or given to such person, at or prior to the written
       confirmation of the sale of such Securities to such person, a copy of the
       final prospectus if the Company had previously furnished copies thereof
       to such Holder or Participating Broker-Dealer; PROVIDED FURTHER, that
       this indemnity agreement will be in addition to any liability which the
       Company may otherwise have to such Indemnified Party. The Company shall
       also indemnify underwriters, their officers and directors and each person
       who controls such underwriters within the meaning of the Securities Act
       or the Exchange Act to the same extent as provided above with respect to
       the indemnification of the Holders of the Securities if requested by such
       Holders.

              (b) Each Holder of the Securities, severally and not jointly, will
       indemnify and hold harmless the Company and each person, if any, who
       controls the Company within the meaning of the Securities Act or the
       Exchange Act from and against any losses, claims, damages or liabilities
       or any actions in respect thereof, to which the Company or any such
       controlling person may become subject under the Securities Act, the
       Exchange Act or otherwise, insofar as such losses, claims, damages,
       liabilities or actions arise out of or are based upon any untrue
       statement or alleged untrue statement of a material fact contained in a
       Registration Statement or prospectus or in any amendment or supplement
       thereto or in any preliminary prospectus relating to a Shelf
       Registration, or arise out of or are based upon the omission or alleged
       omission to state therein a material fact necessary to make the
       statements therein not misleading, but in each case only to the extent
       that the untrue statement or omission or alleged untrue statement or
       omission was made in reliance upon and in conformity with written
       information pertaining to such

                                       14
<Page>

       Holder and furnished to the Company by or on behalf of such Holder
       specifically for inclusion therein; and, subject to the limitation set
       forth immediately preceding this clause, shall reimburse, as incurred,
       the Company for any legal or other expenses reasonably incurred by the
       Company or any such controlling person in connection with investigating
       or defending any loss, claim, damage, liability or action in respect
       thereof. This indemnity agreement will be in addition to any liability
       which such Holder may otherwise have to the Company or any of its
       controlling persons.

              (c) Promptly after receipt by an indemnified party under this
       Section 5 of notice of the commencement of any action or proceeding
       (including a governmental investigation), such indemnified party will, if
       a claim in respect thereof is to be made against the indemnifying party
       under this Section 5, notify the indemnifying party of the commencement
       thereof; but the omission so to notify the indemnifying party will not,
       in any event, relieve the indemnifying party from any obligations to any
       indemnified party other than the indemnification obligation provided in
       paragraph (a) or (b) above. In case any such action is brought against
       any indemnified party, and it notifies the indemnifying party of the
       commencement thereof, the indemnifying party will be entitled to
       participate therein and, to the extent that it may wish, jointly with any
       other indemnifying party similarly notified, to assume the defense
       thereof, with counsel reasonably satisfactory to such indemnified party
       (who shall not, except with the consent of the indemnified party, be
       counsel to the indemnifying party), and after notice from the
       indemnifying party to such indemnified party of its election so to assume
       the defense thereof the indemnifying party will not be liable to such
       indemnified party under this Section 5 for any legal or other expenses,
       other than reasonable costs of investigation, subsequently incurred by
       such indemnified party in connection with the defense thereof. No
       indemnifying party shall, without the prior written consent of the
       indemnified party, effect any settlement of any pending or threatened
       action in respect of which any indemnified party is or could have been a
       party and indemnity could have been sought hereunder by such indemnified
       party unless such settlement includes an unconditional release of such
       indemnified party from all liability on any claims that are the subject
       matter of such action, and does not include a statement as to or an
       admission of fault, culpability or a failure to act by or on behalf of
       any indemnified party.

              (d) If the indemnification provided for in this Section 5 is
       unavailable or insufficient to hold harmless an indemnified party under
       subsections (a) or (b) above, then each indemnifying party shall
       contribute to the amount paid or payable by such indemnified party as a
       result of the losses, claims, damages or liabilities (or actions in
       respect thereof) referred to in subsection (a) or (b) above (i) in such
       proportion as is appropriate to reflect the relative benefits received by
       the indemnifying party or parties on the one hand and the indemnified
       party on the other from the sale of the Transfer Restricted Securities,
       or (ii) if the allocation provided by the foregoing clause (i) is not
       permitted by applicable law, in such proportion as is appropriate to
       reflect not only the relative benefits referred to in clause (i) above
       but also the relative fault of the indemnifying party or parties on the
       one hand and the indemnified party on the other in connection with the
       statements or omissions that resulted in such losses, claims, damages or
       liabilities (or actions in respect thereof) as well as any other relevant
       equitable considerations. The relative fault of the parties shall be
       determined by reference to,

                                       15
<Page>

       among other things, whether the untrue or alleged untrue statement of a
       material fact or the omission or alleged omission to state a material
       fact relates to information supplied by the Company on the one hand or
       such Holder or such other indemnified party, as the case may be, on the
       other, and the parties' relative intent, knowledge, access to information
       and opportunity to correct or prevent such statement or omission. The
       amount paid by an indemnified party as a result of the losses, claims,
       damages or liabilities referred to in the first sentence of this
       subsection (d) shall be deemed to include any legal or other expenses
       reasonably incurred by such indemnified party in connection with
       investigating or defending any action or claim which is the subject of
       this subsection (d). Notwithstanding any other provision of this Section
       5, the Holders of the Securities shall not be required to contribute any
       amount in excess of the amount by which the net proceeds received by such
       Holders from the sale of the Securities pursuant to a Registration
       Statement exceeds the amount of damages which such Holders have otherwise
       been required to pay by reason of such untrue or alleged untrue statement
       or omission or alleged omission. No person guilty of fraudulent
       misrepresentation (within the meaning of Section 11(f) of the Securities
       Act) shall be entitled to contribution from any person who was not guilty
       of such fraudulent misrepresentation. For purposes of this subsection
       (d), each person, if any, who controls such indemnified party within the
       meaning of the Securities Act or the Exchange Act shall have the same
       rights to contribution as such indemnified party and each person, if any,
       who controls the Company within the meaning of the Securities Act or the
       Exchange Act shall have the same rights to contribution as the Company.

              (e) The agreements contained in this Section 5 shall survive the
       sale of the Securities pursuant to a Registration Statement and shall
       remain in full force and effect, regardless of any termination or
       cancellation of this Agreement or any investigation made by or on behalf
       of any indemnified party.

       6. LIQUIDATED DAMAGES.

              (a) Liquidated damages (the "LIQUIDATED DAMAGES") with respect to
       the Securities shall be assessed as follows if any of the following
       events occur (each such event in clauses (i) through (iv) below being
       herein called a "REGISTRATION DEFAULT"):

              (i)    any Registration Statement required by this Agreement is
                     not filed with the Commission on or prior to the date
                     specified for such filing;

              (ii)   any Registration Statement required by this Agreement is
                     not declared effective by the Commission on or prior to the
                     date specified for such effectiveness (the "EFFECTIVENESS
                     TARGET DATE");

              (iii)  the Registered Exchange Offer has not been consummated
                     within 35 business days of the Effectiveness Target Date
                     with respect to the Exchange Offer Registration Statement;
                     or

                                       16
<Page>

              (iv)   any Registration Statement required by this Agreement has
                     been declared effective by the Commission but (A) such
                     Registration Statement thereafter ceases to be effective or
                     (B) such Registration Statement or the related prospectus
                     ceases to be usable in connection with resales of Transfer
                     Restricted Securities during the periods specified herein.

              Each of the foregoing will constitute a Registration Default
       whatever the reason for any such event and whether it is voluntary or
       involuntary or is beyond the control of the Company or pursuant to
       operation of law or as a result of any action or inaction by the
       Commission.

              The Company shall pay Liquidated Damages to each Holder in the
       event of a Registration Default. Liquidated Damages shall accrue, at an
       annual rate of 1.0% of the aggregate principal amount of the Securities,
       on the date of such Registration Default, payable in cash semiannually in
       arrears on each interest payment date with respect to the Securities,
       commencing on the date of such Registration Default. All accrued
       Liquidated Damages will be paid by the Company in the same manner and at
       the times as interest is paid. Following the cure of all Registration
       Defaults, the accrual of Liquidated Damages will cease.

              (b) A Registration Default referred to in Section 6(a)(iv) hereof
       shall be deemed not to have occurred and be continuing in relation to a
       Shelf Registration Statement or the related prospectus if (i) such
       Registration Default has occurred solely as a result of (x) the filing of
       a post-effective amendment to such Shelf Registration Statement to
       incorporate annual audited financial information with respect to the
       Company where such post-effective amendment is not yet effective and
       needs to be declared effective to permit Holders to use the related
       prospectus or (y) other material events, with respect to the Company that
       would need to be described in such Shelf Registration Statement or the
       related prospectus and (ii) in the case of clause (y), the Company is
       proceeding promptly and in good faith to amend or supplement such Shelf
       Registration Statement and related prospectus to describe such events;
       PROVIDED, HOWEVER, that in any case if such Registration Default occurs
       for a continuous period in excess of 30 days, Additional Interest shall
       be payable in accordance with the above paragraph from the day such
       Registration Default occurs until such Registration Default is cured.

              (c) Any amounts of Liquidated Damages due pursuant to Section 6(a)
       will be the exclusive remedy available to holders of Transfer Restricted
       Securities for any Registration Default.

              (d) "TRANSFER RESTRICTED SECURITIES" means each Security until (i)
       the date on which such Security has been exchanged by a person other than
       a broker-dealer for a freely transferable Exchange Note in the Exchange
       Offer, (ii) following the exchange by a broker-dealer in the Exchange
       Offer of an Initial Security for an Exchange Note, the date on which such
       Exchange Note is sold to a purchaser who receives from such broker-dealer
       on or prior to the date of such sale a copy of the prospectus contained
       in the

                                       17
<Page>

       Exchange Offer Registration Statement, (iii) the date on which such
       Security has been effectively registered under the Securities Act and
       disposed of in accordance with the Shelf Registration Statement or (iv)
       the date on which such Security is distributed to the public pursuant to
       Rule 144 under the Securities Act.

       7. RULES 144 AND 144A. The Company shall use its reasonable best efforts
to, upon the request of any Holder of Securities, make publicly available any
information so long as necessary to permit sales of their securities pursuant to
Rules 144 and 144A. The Company covenants that it will take such further action
as any Holder of Securities may reasonably request, all to the extent required
from time to time to enable such Holder to sell Securities without registration
under the Securities Act within the limitation of the exemptions provided by
Rules 144 and 144A (including the requirements of Rule 144A(d)(4)). The Company
will provide a copy of this Agreement to prospective purchasers of Offered
Securities identified to the Company by the Initial Purchaser upon request. Upon
the request of any Holder of Offered Securities, the Company shall deliver to
such Holder a written statement as to whether it has complied with such
requirements. Notwithstanding the foregoing, nothing in this Section 7 shall be
deemed to require the Company to register any of its securities pursuant to the
Exchange Act.

       8. UNDERWRITTEN REGISTRATIONS. If any of the Transfer Restricted
Securities covered by any Shelf Registration are to be sold in an underwritten
offering, the investment banker or investment bankers and manager or managers
that will administer the offering ("MANAGING UNDERWRITERS") will be selected by
the Holders of a majority in aggregate principal amount of such Transfer
Restricted Securities to be included in such offering.

       No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person's Transfer Restricted
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (ii)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements.

       9. MISCELLANEOUS.

              (a) NO INCONSISTENT AGREEMENTS. The Company will not on or after
       the date of this Agreement enter into any agreement with respect to its
       securities that is inconsistent with the rights granted to the Holders in
       this Agreement or otherwise conflicts with the provisions hereof. The
       rights granted to the Holders hereunder do not in any way conflict with
       and are not inconsistent with the rights granted to the holders of the
       Company's securities under any agreement in effect on the date hereof.

              (b) AMENDMENTS AND WAIVERS. The provisions of this Agreement may
       not be amended, modified or supplemented, and waivers or consents to
       departures from the provisions hereof may not be given, except by the
       Company and the written consent of the Holders of a majority in principal
       amount of the Securities affected by such amendment, modification,
       supplement, waiver or consents.

                                       18
<Page>

              (c) NOTICES. All notices and other communications provided for or
       permitted hereunder shall be made in writing by hand delivery,
       first-class mail, facsimile transmission, or air courier which guarantees
       overnight delivery:

              (1) if to a Holder of the Securities, at the most current address
       given by such Holder to the Company.

              (2) if to the Initial Purchaser:

                            Credit Suisse First Boston LLC
                            Eleven Madison Avenue
                            New York, NY 10010-3629
                            Fax No.:  (212) 325-8278
                            Attention:  Transactions Advisory Group

                  with a copy to:

                            Latham & Watkins LLP
                            885 Third Avenue
                            New York, NY 10022-4802
                            Fax No.:  (212) 751-4864
                            Attention:  Peter M. Labonski

              (3) if to the Company, at its address as follows:

                            Von Hoffmann Corporation
                            1000 Camera Avenue
                            St. Louis, MO 63126
                            Fax No.:  (314) 966-0983
                            Attention:  Chief Financial Officer

                  with a copy to:

                            Weil, Gotshal & Manges LLP
                            767 Fifth Avenue
                            New York, NY 10153
                            Fax No.:  (212) 310-8007
                            Attention:  Todd R. Chandler

       All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

              (d) THIRD PARTY BENEFICIARIES. The Holders shall be third party
       beneficiaries to the agreements made hereunder between the Company, on
       the one hand, and the Initial Purchaser, on the other hand, and shall
       have the right to enforce such agreements directly

                                       19
<Page>

       to the extent they may deem such enforcement necessary or advisable to
       protect their rights or the rights of Holders hereunder.

              (e) SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon
       the Company and its successors and assigns.

              (f) COUNTERPARTS. This Agreement may be executed in any number of
       counterparts and by the parties hereto in separate counterparts, each of
       which when so executed shall be deemed to be an original and all of which
       taken together shall constitute one and the same agreement.

              (g) HEADINGS. The headings in this Agreement are for convenience
       of reference only and shall not limit or otherwise affect the meaning
       hereof.

              (h) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND
       CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
       REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.

              (i) SEVERABILITY. If any one or more of the provisions contained
       herein, or the application thereof in any circumstance, is held invalid,
       illegal or unenforceable, the validity, legality and enforceability of
       any such provision in every other respect and of the remaining provisions
       contained herein shall not be affected or impaired thereby.

              (j) SECURITIES HELD BY THE COMPANY. Whenever the consent or
       approval of Holders of a specified percentage of principal amount of
       Securities is required hereunder, Securities held by the Company or its
       affiliates (other than subsequent Holders of Securities if such
       subsequent Holders are deemed to be affiliates solely by reason of their
       holdings of such Securities) shall not be counted in determining whether
       such consent or approval was given by the Holders of such required
       percentage.

                                       20
<Page>

       If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Issuer a counterpart hereof, whereupon
this instrument, along with all counterparts, will become a binding agreement
among the Initial Purchaser, the Issuer and the Guarantors in accordance with
its terms.

                            Very truly yours,

                            Von Hoffmann Corporation

                            By: /s/ Gary C. Wetzel
                                --------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                            Von Hoffmann Holdings Inc.

                            By: /s/ Gary C. Wetzel
                                --------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                            H&S Graphics, Inc.

                            By: /s/ Gary C. Wetzel
                                --------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                            Preface, Inc.

                            By: /s/ Gary C. Wetzel
                                --------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                            Precision Offset Printing Company, Inc.

                            By: /s/ Gary C. Wetzel
                                --------------------------------------------
                                Name:  Gary C. Wetzel
                                Title: Chief Financial Officer and Treasurer

                                       21
<Page>

                                             The foregoing Registration
Rights Agreement is hereby confirmed
and accepted as of the date first
above written.

CREDIT SUISSE FIRST BOSTON LLC

By:  /s/ Marc Warm
     -------------------------------
     Name: Marc Warm
     Title:   Authorized Signatory

                                       22
<Page>
                                                                         ANNEX A

       Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Notes. The Letter of
Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act. This Prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection
with resales of Exchange Notes received in exchange for Offered Securities where
such Offered Securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed
that, for a period of 180 days after the Expiration Date (as defined herein), it
will make this Prospectus available to any broker-dealer for use in connection
with any such resale. See "Plan of Distribution."

                                       23
<Page>

                                                                         ANNEX B

       Each broker-dealer that receives Exchange Notes for its own account in
exchange for Offered Securities, where such Offered Securities were acquired by
such broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Notes. See "Plan of Distribution."

                                       24
<Page>
                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

       Each broker-dealer that receives Exchange Notes for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Notes. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of Exchange Notes received in
exchange for Offered Securities where such Offered Securities were acquired as a
result of market-making activities or other trading activities. The Company has
agreed that, for a period of 180 days after the Expiration Date, it will make
this prospectus, as amended or supplemented, available to any broker-dealer for
use in connection with any such resale. In addition, until ______ __, 200[_],
all dealers effecting transactions in the Exchange Notes may be required to
deliver a prospectus.1

       The Company will not receive any proceeds from any sale of Exchange Notes
by broker-dealers. Exchange Notes received by broker-dealers for their own
account pursuant to the Exchange Offer may be sold from time to time in one or
more transactions in the over-the-counter market, in negotiated transactions,
through the writing of options on the Exchange Notes or a combination of such
methods of resale, at market prices prevailing at the time of resale, at prices
related to such prevailing market prices or negotiated prices. Any such resale
may be made directly to purchasers or to or through brokers or dealers who may
receive compensation in the form of commissions or concessions from any such
broker-dealer or the purchasers of any such Exchange Notes. Any broker-dealer
that resells Exchange Notes that were received by it for its own account
pursuant to the Exchange Offer and any broker or dealer that participates in a
distribution of such Exchange Notes may be deemed to be an "underwriter" within
the meaning of the Securities Act and any profit on any such resale of Exchange
Notes and any commission or concessions received by any such persons may be
deemed to be underwriting compensation under the Securities Act. The Letter of
Transmittal states that, by acknowledging that it will deliver and by delivering
a prospectus, a broker-dealer will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.

       For a period of 180 days after the Expiration Date the Company will
promptly send additional copies of this Prospectus and any amendment or
supplement to this Prospectus to any broker-dealer that requests such documents
in the Letter of Transmittal. The Company has agreed to pay all expenses
incident to the Exchange Offer (including the expenses of one counsel for the
Holders of the Securities) other than commissions or concessions of any brokers
or dealers and will indemnify the Holders of the Securities (including any
broker-dealers) against certain liabilities, including liabilities under the
Securities Act.

--------
(1) In addition, the legend required by Item 502(b) of Regulation S-K will
appear on the back cover page of the Exchange Offer prospectus.

                                       25
<Page>
                                                                         ANNEX D

[ ] CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

               Name:
                    ------------------------------------------------------------
               Address:
                       ---------------------------------------------------------

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Notes. If the undersigned is a broker-dealer that will receive Exchange Notes
for its own account in exchange for Offered Securities that were acquired as a
result of market-making activities or other trading activities, it acknowledges
that it will deliver a prospectus in connection with any resale of such Exchange
Notes; however, by so acknowledging and by delivering a prospectus, the
undersigned will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act.

                                       26<Page>
                                                                    Exhibit 4.13

                            STOCK PURCHASE AGREEMENT

                                      AMONG

                            VON HOFFMANN CORPORATION,

                             THE LEHIGH PRESS, INC.

                             AND THE SHAREHOLDERS OF

                             THE LEHIGH PRESS, INC.

                          DATED AS OF SEPTEMBER 5, 2003

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                              PAGE

<S>                                                                                                            <C>
1.       Definitions.............................................................................................1

2.       Purchase and Sale of Company Shares....................................................................10
         (a)      Basic Transaction.............................................................................10
         (b)      Purchase Price................................................................................11
         (c)      Purchase Price Definitions....................................................................11
         (d)      Estimated Purchase Price......................................................................13
         (e)      Payment from Buyer to Sellers and Option Payees...............................................13
         (f)      Determination of Purchase Price...............................................................13
         (g)      Closing.......................................................................................15
         (h)      Deliveries at Closing.........................................................................15

3.       Representations and Warranties Concerning Transaction..................................................15
         (a)      Sellers' Representations and Warranties.......................................................15
         (b)      Buyer's Representations and Warranties........................................................16

4.       Representations and Warranties Concerning the Company..................................................17
         (a)      Organization, Qualification and Corporate Power; Corporate Records............................18
         (b)      Capitalization................................................................................18
         (c)      Noncontravention; Authorization of Transaction................................................18
         (d)      Brokers' Fees.................................................................................19
         (e)      Title to Assets...............................................................................19
         (f)      Subsidiaries..................................................................................19
         (g)      Financial Statements..........................................................................20
         (h)      Events Subsequent to Most Recent Fiscal Year End..............................................20
         (i)      Undisclosed Liabilities.......................................................................22
         (j)      Legal Compliance; Permits.....................................................................22
         (k)      Tax Matters...................................................................................22
         (l)      Real Property.................................................................................24
         (m)      Intellectual Property.........................................................................26
         (n)      Tangible Assets...............................................................................28
         (o)      Inventory.....................................................................................28
         (p)      Contracts.....................................................................................28
         (q)      Notes and Accounts Receivable; Accounts Payable...............................................29
         (r)      Powers of Attorney............................................................................29
         (s)      Insurance.....................................................................................29
         (t)      Litigation....................................................................................30
         (u)      Employees.....................................................................................30
         (v)      Employee Benefits.............................................................................31
         (w)      Guaranties....................................................................................32
         (x)      Environmental Matters.........................................................................33

<Page>

                                TABLE OF CONTENTS
                                   (continued)

                                                                                                              PAGE

         (y)      Certain Business Relationships with Company...................................................34
         (z)      Customers and Suppliers.......................................................................34
         (aa)     Bank Accounts.................................................................................34
         (bb)     Product Quality and Warranty Claims...........................................................34
         (cc)     Books and Records.............................................................................35

5.       Pre-Closing Covenants..................................................................................35
         (a)      General.......................................................................................35
         (b)      Notices and Consents..........................................................................35
         (c)      Operation of Business.........................................................................36
         (d)      Preservation of Business......................................................................37
         (e)      Access........................................................................................37
         (f)      Notice of Developments........................................................................38
         (g)      Exclusivity...................................................................................38
         (h)      Updates to Environmental Assessments..........................................................39
         (i)      Repayment of Loans and Affiliate Transactions.................................................39
         (j)      Indebtedness..................................................................................39
         (k)      Transaction Expenses..........................................................................39
         (l)      Assistance with Financing.....................................................................39
         (m)      Company Stock Options.........................................................................40
         (n)      Restricted Stock Agreement; Corporate Governance Agreement....................................40
         (o)      Lehigh Puerto Rico; Puerto Rico Asset Purchase Agreement......................................40
         (p)      Split Dollar Life Insurance Assignment........................................................40
         (q)      Buyer's Financing.............................................................................40
         (r)      Release of Liens..............................................................................41
         (t)      SERP Payments.................................................................................41

6.       Post-Closing Covenants.................................................................................41
         (a)      General.......................................................................................41
         (b)      Litigation Support............................................................................41
         (c)      D & O Insurance...............................................................................42
         (d)      Severance Pay Plan............................................................................42
         (e)      Transition....................................................................................42
         (f)      Confidentiality...............................................................................42
         (g)      Covenant Not to Compete; Non-Solicitation.....................................................43

7.       Conditions to Obligation to Close......................................................................44
         (a)      Conditions to Buyer's Obligation..............................................................44
         (b)      Conditions to Sellers' Obligation.............................................................45

8.       Remedies for Breaches of this Agreement................................................................46
         (a)      Survival of Representations and Warranties....................................................46

                                       ii

<Page>

                                TABLE OF CONTENTS
                                   (continued)

                                                                                                              PAGE

         (b)      Indemnification Provisions for Buyer's Benefit................................................46
         (c)      Indemnification Provisions for Sellers' Benefit...............................................48
         (d)      Matters Involving Third Parties...............................................................48
         (e)      Direct Claims.................................................................................50
         (f)      Exclusive Remedy..............................................................................50
         (g)      Escrow Agreement..............................................................................50
         (h)      Adjustment to Purchase Price..................................................................50

9.       Termination............................................................................................51
         (a)      Termination of Agreement......................................................................51
         (b)      Effect of Termination.........................................................................51

10.      Miscellaneous..........................................................................................51
         (a)      Nature of Sellers' Obligations................................................................51
         (b)      Press Releases and Public Announcements.......................................................52
         (c)      No Third-Party Beneficiaries..................................................................52
         (d)      Entire Agreement..............................................................................52
         (e)      Succession and Assignment.....................................................................52
         (f)      Counterparts..................................................................................53
         (g)      Headings......................................................................................53
         (h)      Notices.......................................................................................53
         (i)      Governing Law; Jurisdiction; Waiver of Jury Trial.............................................54
         (j)      Amendments and Waivers........................................................................54
         (k)      Severability..................................................................................54
         (l)      Expenses......................................................................................54
         (m)      Construction..................................................................................55
         (n)      Incorporation of Exhibits, Annexes and Schedules..............................................55
         (o)      Governing Language............................................................................55
         (p)      Cooperation on Tax Matters....................................................................55
         (q)      Appointment of Sellers' Representative........................................................58
</Table>

EXHIBIT A  -  Estimate of the Estimated Purchase Price
EXHIBIT B  -  Escrow Agreement
EXHIBIT C  -  Commitment Letters
EXHIBIT D  -  Financial Statements
EXHIBIT E  -  Option Termination Agreement

                                      iii
<Page>

                                                                  EXECUTION COPY

                            STOCK PURCHASE AGREEMENT

       This Stock Purchase Agreement (this "AGREEMENT") dated as of September 5,
2003 by and among Von Hoffmann Corporation, a Delaware corporation ("BUYER"),
The Lehigh Press, Inc., a Pennsylvania corporation (the "Company"), and each of
John D. DePaul, Raymond A. Frick, Jr., individually and as Sellers'
Representative, Barbara A. DePaul, as trustee, and John R. DePaul (each a Seller
and collectively, "SELLERS"). Buyer, the Company and Sellers are referred to
collectively herein as the "PARTIES."

       Sellers in the aggregate own all of the outstanding capital stock of the
Company.

       This Agreement contemplates a transaction in which Buyer will purchase
from Sellers and Sellers will sell to Buyer, all of the outstanding capital
stock of the Company on the terms and for the consideration set forth below.

       Concurrently with the execution and delivery of this Agreement, Buyer
John R. DePaul has executed an executive agreement (the "EXECUTIVE AGREEMENT").

       Concurrently with the execution and delivery of this Agreement, each
Option Payee has executed and delivered to the Company an Option Termination
Agreement.

       Now, therefore, in consideration of the premises and the mutual promises
herein made and in consideration of the representations, warranties and
covenants herein contained, the Parties agree as follows:

       1. DEFINITIONS.

       "ACCOUNTANTS" has the meaning set forth in SECTION 2(F)(I) below.

       "ACCRUED OTHER TAXES" has the meaning set forth in SECTION 2(C)(XII)
below.

       "ACCRUED OTHER TAXES ADJUSTMENT" has the meaning set forth in SECTION
2(C)(XIII) below.

       "AFFILIATE" has the meaning set forth in Rule 12b-2 of the regulations
promulgated under the Securities Exchange Act.

       "AFFILIATED GROUP" means any affiliated group within the meaning of Code
Section 1504(a) or any similar group defined under a similar provision of state,
local or foreign Law.

       "AGREEMENT" has the meaning set forth in the preface above.

       "BASIS" means any past or present fact, situation, circumstance, status,
condition, activity, practice, plan, occurrence, event, incident, action,
failure to act or transaction that forms or could form the basis for any
specified consequence.

       "BASKET AMOUNT" has the meaning set forth in SECTION 8(B)(I)(A) below.

<Page>

         "BUSINESS DAY" means any day other than (a) Saturday or Sunday or (b)
any other day on which banks in New York, New York are permitted or required to
be closed.

         "BUYER" has the meaning set forth in the preface above.

         "BUYER INDEMNIFIED PARTIES" has the meaning set forth in SECTION
8(B)(I) below.

         "CASH" means cash and cash equivalents of the Company (including
deposits in transit) less escrowed amounts or other restricted cash balances of
the Company and less the amounts of any unpaid checks, drafts and wire transfers
issued by the Company on or prior to the date and time of determination,
calculated in accordance with GAAP applied on a basis consistent with the
preparation of the Financial Statements.

         "CLOSING" has the meaning set forth in SECTION 2(G) below.

         "CLOSING DATE" has the meaning set forth in SECTION 2(G) below.

         "CLOSING EBITDA" has the meaning set forth in SECTION 2(C)(IX) below.

         "CLOSING FINANCIAL STATEMENTS" has the meaning set forth in SECTION
2(F)(I) below.

         "CLOSING INDEBTEDNESS" has the meaning set forth in SECTION 2(C)(VI)
below.

         "CLOSING NET WORKING CAPITAL" has the meaning set forth in SECTION
2(C)(I) below.

         "COBRA" means the requirements of Part 6 of Subtitle B of Title I of
ERISA and Code Section 4980B and of any similar state Law.

         "CODE" means the Internal Revenue Code of 1986, as amended.

         "COMMITMENT LETTERS" has the meaning set forth in SECTION 3(B)(VI)
below.

         "COMPANY" has the meaning set forth in the preface above.

         "COMPANY SHARE" means any share of the common stock, no par value, of
the Company.

         "COMPANY STOCK OPTIONS" has the meaning set forth in SECTION 4(B)
below.

         "CONFIDENTIAL INFORMATION" means any information concerning the
businesses and affairs of the Company that is not already generally available to
the public.

         "CONFIDENTIALITY AGREEMENT" means that certain letter agreement, dated
May 2, 2003, between Buyer and the Company, as amended, restated or supplemented
from time to time.

         "CONTRACTS" has the meaning set forth in SECTION 4(P) below.

         "CORPORATE GOVERNANCE AGREEMENT" has the meaning set forth in SECTION
5(N) below.

         "CURRENT ASSETS" has the meaning set forth in SECTION 2(C)(II) below.

                                       2
<Page>

         "CURRENT LIABILITIES" has the meaning set forth in SECTION 2(C)(III)
below.

         "DAMAGES" means all actions, suits, proceedings, hearings,
investigations, charges, complaints, claims, demands, injunctions, judgments,
orders, decrees, rulings, deficiencies, assessments, damages, dues, penalties,
fines, costs, liabilities, obligations, taxes, liens, losses, expenses and fees,
including court costs and reasonable attorneys' and other professionals' fees
and expenses, including such of the foregoing that relate to Direct Claims.

         "DIRECT CLAIM" has the meaning set forth in SECTION 8(E) below.

         "DISCLOSURE SCHEDULE" has the meaning set forth in SECTION 4 below.

         "DISPUTED ITEMS" has the meaning set forth in SECTION2(F)(I) below.

         "DLJMB BUYERS" means, collectively, DLJ Merchant Banking Partners II,
L.P., DLJ Merchant Banking Partners II-A, L.P., DLJ Offshore Partners II, C.V.,
DLJ Diversified Partners, L.P., DLJ Diversified Partners-A, L.P., DLJ Millennium
Partners, L.P., DLJ Millennium Partners-A, L.P., DLJ EAB Partners, L.P., and MBP
II Plan Investors, L.P.

         "EBITDA" has the meaning set forth in SECTION 2(C)(X) below.

         "EBITDA DEDUCTION" has the meaning set forth in SECTION 2(C)(VII)
below.

         "EBITDA SHORTFALL" has the meaning set forth in SECTION 2(C)(VIII)
below.

         "EMPLOYEE BENEFIT PLAN" means any "employee benefit plan" (as such term
is defined in ERISA Section 3(3)) and any other material employee benefit plan,
program or arrangement of any kind, including, but not limited to, any bonus or
other incentive compensation, stock option, stock purchase, stock award or other
equity-based compensation, severance, salary continuation, employee income tax
indemnity (e.g. tax gross up) plan, program or arrangement.

         "EMPLOYEE PENSION BENEFIT PLAN" has the meaning set forth in ERISA
Section 3(2).

         "EMPLOYEE WELFARE BENEFIT PLAN" has the meaning set forth in ERISA
Section 3(1).

         "ENVIRONMENTAL CLAIM" means any claim, demand, action, suit, or
proceeding by any Person and/or by any federal, state or regulatory entity,
incident to (i) the Release or threatened Release of any Hazardous Substance at
or from the Real Property on or prior to the Closing Date; (ii) the ownership,
operation or use of any site or facility by the Company on or prior to the
Closing Date for the storage, treatment, generation, transportation, processing,
handling, production or disposal of any Hazardous Substance, or as a landfill or
other waste disposal site; (iii) human exposure to any Hazardous Substance; (iv)
a violation of any applicable Environmental Requirement or non-compliance with
any environmental permit relating to the ownership, operation or use of any site
or facility by the Company on or prior to the Closing Date; (v) any requests for
information, notices of claim, demand letters or other notification received by
the Buyer after the Closing Date from any Governmental Entity in connection with
any investigation or clean-up of hazardous or polluting substances sent directly
by the Company prior to the Closing Date to any site listed or formally proposed
for listing on the National

                                       3
<Page>

Priority List ("NPL") promulgated pursuant to the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, as amended ("CERCLA") or the
Comprehensive Environmental Response, Compensation and Liability Information
System ("CERCLIS") or to any site listed on any state list of hazardous
substances sites requiring investigation or clean-up.

         "ENVIRONMENTAL REQUIREMENTS" shall mean all federal, state, local and
foreign Laws, all judicial and administrative orders and determinations and all
common law concerning pollution or protection of the environment, natural
resources or human health and safety as it relates to environmental protection,
including all those relating to the presence, use, production, generation,
handling, transportation, treatment, storage, disposal, distribution, labeling,
testing, processing, discharge, release, threatened release, control, or cleanup
of any Hazardous Substances.

         "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

         "ERISA AFFILIATE" means each entity that is treated as a single
employer with Company for purposes of Code Section 414.

         "ESCROW AGENT" has the meaning set forth in SECTION 2(H) below.

         "ESCROW AGREEMENT" has the meaning set forth in SECTION 2(H) below.

         "ESCROW AMOUNT" has the meaning set forth in SECTION 2(E) below.

         "ESTIMATED PURCHASE PRICE" has the meaning set forth in SECTION 2(D)
below.

         "EXECUTIVE AGREEMENT" has the meaning set forth in the preface above.

         "FIDUCIARY" has the meaning set forth in ERISA Section 3(21).

         "FINANCIAL STATEMENTS" has the meaning set forth in SECTION 4(G) below.

         "GAAP" means United States generally accepted accounting principles as
in effect from time to time.

         "GIN" has the meaning set forth in SECTION 5(B) below.

         "GOVERNMENTAL ENTITY" means any government or governmental or
regulatory body thereof, or political subdivision thereof, whether federal,
state, local or foreign, or any agency, instrumentality or authority thereof, or
any court or arbitrator (public or private).

         "HART-SCOTT-RODINO ACT" means the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended.

         "HAZARDOUS SUBSTANCES" means, collectively, (i) any petroleum or
petroleum products, flammable explosives, radioactive materials, radon gas, lead
based paint, friable asbestos, in any form, urea formaldehyde foam insulation,
and transformers or other equipment that contain dielectric fluid containing
polychlorinated biphenyls (PCBs), (ii) any chemicals or other

                                       4
<Page>

materials or substances which are defined as or included in the definition of
"hazardous substances", "hazardous wastes", "hazardous materials", "toxic
substances", "toxic pollutants", "contaminants", "pollutants" or words of
similar import under any Environmental Requirements and (iii) any other chemical
or other material or substance, exposure to which is prohibited, limited or
regulated by any Environmental Requirements.

         "IMPROVEMENTS" has the meaning set forth in SECTION 4(L)(IV) below.

         "INCOME TAX" means any federal, state, local or foreign tax, charge,
fee, impost, levy or other assessment which is based upon, measured by, or
calculated with respect to (i) net income or profits or (ii) multiple bases, if
one or more of the bases upon which the tax is based, by which it is measured,
or with respect to which it is calculated is described in clause (i), together
with any interest, penalty or addition thereto, whether disputed or not.

         "INCOME TAX RETURN" means any return, declaration, report, claim for
refund, or information return or statement relating to Income Taxes, including
any schedule or attachment thereto and including any amendment thereof.

         "INDEBTEDNESS" of any Person means, without duplication, (i) the
principal of (A) indebtedness of such Person for money borrowed, (B)
indebtedness evidenced by notes, debentures, bonds or other similar instruments
for the payment of which such Person is responsible or liable and (C) any
liability or obligation that should be reflected as debt in accordance with
GAAP; (ii) all obligations of such Person issued or assumed as the deferred
purchase price of property, all conditional sale obligations of such Person and
all obligations of such Person under any title retention agreement (but
excluding trade accounts payable and other accrued current liabilities arising
in the Ordinary Course of Business); (iii) all obligations of such Person under
leases required to be capitalized in accordance with GAAP; provided, however,
that for the purposes hereof, the leases set forth on SECTION 1(A) OF THE
DISCLOSURE SCHEDULE shall not be treated as Indebtedness; (iv) all obligations
of such Person for the reimbursement of any obligor on any letter of credit,
banker's acceptance or similar credit transaction; (v) all remaining cash
contributions due on or before October 15, 2003, to satisfy the minimum required
contributions for plan years 2002 and 2003 for any Employee Pension Benefit Plan
sponsored by such Person; provided, however, that for the purposes hereof the
Parties agree that as of the date of this Agreement, with respect to the
Company, such remaining cash contributions are equal to $610,000; (vi) all
negative Cash balances, (vii) all obligations of the type referred to in clauses
(i) through (vi) of any Persons for the payment of which such Person is
responsible or liable, directly or indirectly, as obligor, guarantor, surety or
otherwise, including guarantees of such obligations; (viii) all obligations of
the type referred to in clauses (i) through (vii) of other Persons secured by
any Lien on any property or asset of such Person (whether or not such obligation
is assumed by such Person); and (ix) any accrued but unpaid interest, fees,
penalties, premiums and the like in respect of any of the foregoing; provided,
however, except as set forth in clause (v) above, no deferred compensation or
pension liability shall be treated as Indebtedness; and provided further, the
items set forth on SECTION 1(B) OF THE DISCLOSURE SCHEDULE shall not be treated
as Indebtedness.

         "INDEMNIFIED PARTY" has the meaning set forth in SECTION 8(D)(I) below.

                                       5
<Page>

         "INDEMNIFYING PARTY" has the meaning set forth in SECTION 8(D)(I)
below.

         "INDEMNITY ESCROW AMOUNT" has the meaning set forth in SECTION 2(E)
below.

         "INDUSTRIAL SITE RECOVERY ACT" means the New Jersey Industrial Site
Recovery Act, N.J. Stat. Ann.ss. 13:1K ET SEQ, and the rules and regulations
promulgated thereunder.

         "INTELLECTUAL PROPERTY" means intellectual property rights arising from
or in respect of the following, whether protected, created or arising under the
laws of the United States or any other jurisdiction: (i) all patents, patent
applications and patent disclosures, together with all reissuances,
continuations, continuations-in-part, revisions, extensions and reexaminations
thereof, (ii) all trademarks, service marks, trade dress, logos, slogans, trade
names, fictional business names (whether registered or unregistered, including
any applications for registration of the foregoing), Internet domain names and
rights in telephone numbers, together with all translations, adaptations,
derivations and combinations thereof and including all goodwill associated
therewith, (iii) all copyrights and all applications, registrations and renewals
in connection therewith, (iv) all mask works and all applications, registrations
and renewals in connection therewith, (v) all trade secrets and confidential
business information (including inventions (whether or not reduced to practice),
discoveries, concepts, ideas, methods, research and development, know-how,
formulas, compositions, manufacturing and production processes and techniques,
technical data, designs, drawings, specifications, customer and supplier lists,
pricing and cost information and business and marketing plans and proposals),
(vi) all computer programs, including any and all computer software
implementations of algorithms, models and methodologies (including source code,
executable code, data, databases and related documentation), (vii) all databases
and compilations including all data and collections of data, whether machine
readable or otherwise, (viii) all material advertising and promotional
materials, (ix) all other proprietary rights, and (x) all copies and tangible
embodiments thereof (in whatever form or medium).

         "KNOWLEDGE" means, with respect to an individual, the actual knowledge
of such individual after reasonable inquiry of the Company's directors and
officers and, with respect to a Person (other than an individual), the actual
knowledge of any director, officer or key employee of such Person after
reasonable inquiry of such Person's directors and officers.

         "LAWS" shall have the meaning ascribed to such term in SECTION 3(A)(II)
below.

         "LEASED REAL PROPERTY" means all leasehold or subleasehold estates and
other rights to use or occupy any land, buildings, structures, improvements,
fixtures or other interest in real property held by the Company.

         "LEASES" has the meaning set forth in SECTION 4(E)(I) below.

         "LEGAL PROCEEDING" has the meaning set forth in SECTION 4(T) below.

         "LEHIGH PUERTO RICO" means Lehigh Press Puerto Rico LLC together with
Lehigh Press Puerto Rico, Inc.

         "LIABILITIES" has the meaning set forth in SECTION 4(I) below.

                                       6
<Page>

         "LIEN" means any mortgage, pledge, lien, security interest, claim,
lease, option, right of first refusal, easement, servitude, transfer restriction
under any shareholder or similar agreement, encumbrance, charge, or any other
restriction or limitation, other than (i) statutory liens for taxes not yet due
and payable or for taxes that the taxpayer is contesting in good faith through
appropriate proceedings, provided an appropriate reserve therefor is reflected
on the Most Recent Balance Sheet in accordance with GAAP, (ii) purchase money
liens and (iii) mechanics', carriers', workers', repairers' and similar liens
arising in the Ordinary Course of Business that are not material to the
businesses, operations and financial condition of the property so encumbered or
the Company and that are not incurred in connection with the borrowing of money.

         "MATERIAL ADVERSE EFFECT" or "MATERIAL ADVERSE CHANGE" means any effect
or change that would be materially adverse to the business, assets, condition
(financial or otherwise), operating results or operations of the Company, taken
as a whole, or on the ability of any Party to consummate timely the transactions
contemplated hereby.

         "MOST RECENT BALANCE SHEET" means the balance sheet contained within
the Most Recent Financial Statements.

         "MOST RECENT FINANCIAL STATEMENTS" has the meaning set forth in SECTION
4(G) below.

         "MOST RECENT FISCAL MONTH END" has the meaning set forth in SECTION
4(G) below.

         "MOST RECENT FISCAL YEAR END" has the meaning set forth in SECTION 4(G)
below.

         "MULTIEMPLOYER PLAN" has the meaning set forth in SECTION 4(V) below.

         "NET WORKING CAPITAL" has the meaning set forth in SECTION 2(C)(IV)
below.

         "NET WORKING CAPITAL DEDUCTION" has the meaning set forth in SECTION
2(C)(XI) below.

         "NJDEP" has the meaning set forth in SECTION 5(B) below.

         "OPTION CASH CONSIDERATION" has the meaning set forth in SECTION 5(M)
below.

         "OPTION TERMINATION AGREEMENT" has the meaning set forth in SECTION
5(M) below.

         "OPTION PAYEE" means any Person that holds a Company Stock Option who
has not exercised such Company Stock Option prior to the Closing Date and who is
entitled to receive a payment in connection with the cancellation of such
Person's option rights.

         "ORDINARY COURSE OF BUSINESS" means the ordinary course of business
consistent with past custom and practice (including with respect to quantity and
frequency).

         "OWNED REAL PROPERTY" means all land, together with all buildings,
structures, improvements and fixtures located thereon and all easements and
other rights and interests appurtenant thereto, owned in fee by the Company.

                                       7
<Page>

         "PARTIES" has the meaning set forth in the preface above.

         "PERMITTED ENCUMBRANCES" means with respect to each parcel of Real
Property: (i) real estate taxes, assessments and other governmental levies,
fees, or charges imposed with respect to such Real Property that are (A) not due
and payable as of the Closing Date or (B) being contested in good faith and for
which adequate reserves therefor are reflected on the Most Recent Balance Sheet
in accordance with GAAP; (ii) mechanics' liens and similar liens for labor,
materials, or supplies provided with respect to such Real Property incurred in
the Ordinary Course of Business for amounts that (A) are not due and payable as
of the Closing Date or (B) are being contested in good faith which would not,
individually or in the aggregate, materially impair the use or occupancy of the
Real Property or the operation of the business of the Company as currently
conducted on such Real Property; (iii) zoning, building codes and other land use
Laws regulating the use or occupancy of such Real Property or the activities
conducted thereon that are imposed by any Governmental Entity having
jurisdiction over such Real Property and are not violated by the current use or
occupancy of such Real Property or the operation of the business of the Company
as currently conducted thereon; and (iv) easements, covenants, conditions,
restrictions and other similar matters of record affecting title to such Real
Property which do not or would not materially detract from the value of or
materially impair the use or occupancy of such Real Property in the operation of
the business of the Company as currently conducted thereon.

         "PERSON" means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization, any other business entity, or any
Governmental Entity.

         "PROHIBITED TRANSACTION" has the meaning set forth in ERISA Section 406
and Code Section 4975.

         "PUERTO RICO ASSET PURCHASE AGREEMENT" has the meaning set forth in
SECTION 5(O) below.

         "PURCHASE PRICE" has the meaning set forth in SECTION 2(B) below.

         "PURCHASE PRICE ESCROW AMOUNT" has the meaning set forth in SECTION
2(E) below.

         "REAL PROPERTY" has the meaning set forth in SECTION 4(L)(III) below.

         "REAL PROPERTY LAWS" has the meaning set forth in SECTION 4(L)(VI)
below.

         "REAL PROPERTY LEASES" means all leases, subleases, licenses,
concessions and other Contracts (written or oral), including all amendments,
extensions, renewals, guaranties and other agreements with respect thereto,
pursuant to which the Company holds any Leased Real Property.

         "RESTRICTED PERIOD" has the meaning set forth in SECTION 6(H)(I) below.

         "RESTRICTED STOCK AGREEMENT" has the meaning set forth in SECTION 5(M)
below.

                                       8
<Page>

         "SECURITIES ACT" means the Securities Act of 1933, as amended.

         "SECURITIES EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended.

         "SELLER INDEMNIFIED PARTIES" has the meaning set forth in SECTION 8(C)
below.

         "SELLERS" has the meaning set forth in the preface above.

         "SELLERS' REPRESENTATIVE" has the meaning set forth in SECTION 10(Q)
below.

         "SERP PAYMENTS" has the meaning set forth in SECTION 5(T) below.

         "SPECIAL BONUS PAYMENT" has the meaning set forth in SECTION 5(S)
below.

         "SPECIALLY DESIGNATED EMPLOYEE" means the individual listed on SECTION
1(D) of the Disclosure Schedule.

         "SPECIFIED LIENS" has the meaning set forth in SECTION 5(R) below.

         "SPLIT DOLLAR LIFE INSURANCE ASSIGNMENT" has the meaning set forth in
SECTION 5(P) below.

         "STRADDLE PERIOD" has the meaning set forth in SECTION 10(P)(VIII)
below.

         "SUBSIDIARY" means, with respect to any Person, any corporation,
limited liability company, partnership, association, or other business entity of
which (i) if a corporation, 50% or more of the total voting power of shares of
stock entitled (without regard to the occurrence of any contingency) to vote in
the election of directors, managers, or trustees thereof is at the time owned or
controlled, directly or indirectly, by that Person or one or more of the other
Subsidiaries of that Person or a combination thereof or (ii) if a limited
liability company, partnership, association, or other business entity (other
than a corporation), 50% or more of partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by
that Person or one or more Subsidiaries of that Person or a combination thereof
and for this purpose, a Person or Persons owns a 50% or more ownership interest
in such a business entity (other than a corporation) if such Person or Persons
shall be allocated 50% or more of such business entity's gains or losses or
shall be or control any managing director or general partner of such business
entity (other than a corporation). The term "Subsidiary" shall include all
Subsidiaries of such Subsidiary.

         "SWDA" has the meaning set forth in SECTION 4(X)(IV) below.

         "TARGET NET WORKING CAPITAL" has the meaning set forth in SECTION
2(C)(V) below.

         "TAX" or "TAXES" means (i) any federal, state, local, or foreign taxes,
charges, fees, imports, levies or other assessments, including, without
limitation, all net income, gross receipts, license, payroll, employment,
excise, severance, stamp, occupation, premium, windfall profits, environmental
(including taxes under Code Section 59A), customs duties, capital stock,
franchise, profits, withholding, social security (or similar), unemployment,
disability, property,

                                       9
<Page>

sales, use, transfer, registration, ad valorem, inventory, value added,
alternative or add-on minimum and estimated taxes, customs duties, fees,
assessments and charges of any kind whatsoever, (ii) all interest, penalties,
fines, additions to tax or additional amounts imposed by any taxing authority in
connection with any item described in clause (i) and (iii) any liability in
respect of any items described in clauses (i) and/or (ii) payable by reason of
contract, assumption, transferee or successor liability, operation of Law,
Treasury Regulation Section 1.1502-6(a) (or any predecessor or successor thereof
or any analogous or similar provision under Law) or otherwise.

         "TAX RETURN" means any return, declaration, report, claim for refund,
or information return or statement required to be filed in respect of any Taxes,
including any schedule or attachment thereto, and including any amendment
thereto.

         "THIRD-PARTY CLAIM" has the meaning set forth in SECTION 8(D) below.

         "TRANSACTION EXPENSES" means the aggregate amount of fees and expenses
and other payment obligations incurred by or on behalf of, or paid or to be paid
by, the Company in connection with this Agreement or any of the transactions
contemplated hereby, including, but not limited to, (i) all fees and expenses of
counsel, advisors, brokers, finders, consultants (including environmental
consultants), investment bankers, experts, actuaries, auditors and accountants,
(ii) all transaction, success or similar bonuses, or other amounts payable to
any Person in connection with or upon the consummation of the transactions
contemplated hereby whether payable on the Closing Date or thereafter, and
whether or not contingent upon continued employment with the Company for a
period following the Closing, (iii) all severance or other costs payable to any
Person in connection with the consummation of the transactions contemplated
herein unless such severance or other costs become payable only upon the
termination by the Company of such Person's employment with the Company on or
after the Closing Date, (iv) all severance and other amounts, including, but not
limited to, the SERP Payments contempated by Section 5(t) below, payable to
William Love, Raymond A. Frick, Jr. and John D. DePaul pursuant to any Contract,
employee plan or other arrangement, whether payable prior to, on or after the
Closing Date (other than as set forth on SECTION 1.1(C) OF THE DISCLOSURE
SCHEDULE), (v) all costs, fees, penalties, premiums, payments or expenses
incurred or paid (A) in obtaining any approvals or consents contemplated by
SECTION 4(C) hereof, (B) in connection with the repayment of Indebtedness under
SECTION 5(J) and (C) in connection with the release and termination of Liens
under SECTION 5(R), and (vi) all fees and governmental charges described in
Section 10(p)(iv) hereof; provided, however, no amount shall be included as
Transaction Expenses to the extent that such amount is included as Indebtedness;
further, provided, however, that the fees, costs and expenses of Buyer's
financing (including with respect to the financing contemplated under the
Commitment Letters), shall not be included as Transaction Expenses.

         2. PURCHASE AND SALE OF COMPANY SHARES.

         (a) BASIC TRANSACTION. On and subject to the terms and conditions of
this Agreement, Buyer agrees to purchase from each Seller, and each Seller
agrees to sell to Buyer, all of his, her, or its Company Shares free and clear
of all Liens for the consideration specified below in this SECTION 2. The
obligation of Buyer to purchase and pay for the Company Shares at

                                       10
<Page>

Closing is subject, INTER ALIA, to the condition that all of the Company Shares
be delivered and available for purchase by Buyer on the terms set forth herein.

         (b) PURCHASE PRICE. The aggregate purchase price (the "PURCHASE PRICE")
to be paid by Buyer for all of the Company Shares (including payments made to
all Option Payees with respect to the cancellation of all options to purchase
Company Shares) shall be an amount equal to One Hundred and Ten Million Dollars
($110,000,000.00): (i) MINUS an amount equal to the Closing Indebtedness; (ii)
MINUS an amount equal to the Net Working Capital Deduction; (iii) MINUS the
EBITDA Deduction, if any; (iv) MINUS the amount of all Transaction Expenses
which remain unpaid as of the Closing; and (v) MINUS an amount equal to the
Accrued Other Taxes Adjustment.

         (c) PURCHASE PRICE DEFINITIONS. For purposes of calculating the
Purchase Price, the following terms shall have the following meanings:

              (i) "CLOSING NET WORKING CAPITAL" means the Net Working Capital of
       the Company measured as of 11:59 p.m. (Eastern Time) on the day
       immediately preceding the Closing Date.

              (ii) "CURRENT ASSETS" means accounts receivable, other
       receivables, inventory, deposits and prepaid expenses and other current
       assets, but excluding (A) Cash (including negative Cash balances), (B)
       any Income Tax assets or deferred Taxes, and (C) receivables from any of
       the Company's Affiliates, directors, employees, officers or Sellers and
       any of their Affiliates, in each case, as is determined in accordance
       with GAAP applied on a consistent basis with the preparation of the
       Company's Financial Statements for the Most Recent Fiscal Year End.

              (iii) "CURRENT LIABILITIES" means accounts payable, accrued
       compensation, accrued other expenses, Accrued Other Taxes and other
       current liabilities, but excluding (A) payables to any of the Company's
       Affiliates, directors, employees, officers or Sellers and any of their
       Affiliates (but only to the extent that the Company is released from such
       obligations on or prior to the Closing), (B) accrued Transaction
       Expenses, (C) the impact of any reclassification of any negative cash
       balances to a Liability, and (D) the current portion of Indebtedness, in
       each case, as is determined in accordance with GAAP applied on a
       consistent basis with the preparation of the Company's Financial
       Statements for the Most Recent Fiscal Year End. Current Liabilities shall
       also exclude deferred compensation recorded in the amount of $94,106
       representing general ledger account number 280020 and pension liabilities
       related to the company's qualified and supplemental retirement plans
       recorded under SFAS Statement number 87. As of the Closing Date, the
       Liability for accrued bonuses shall be calculated as the pro rata portion
       of the annual 2003 bonus that is included in the Company's most recent
       2003 forecast, assuming the Company achieves such 2003 forecast LESS that
       portion of the annual 2003 bonus that would have been allocated to
       Raymond A. Frick, Jr.

              (iv) "NET WORKING CAPITAL" means Current Assets of the Company
       less Current Liabilities of the Company.

                                       11
<Page>

              (v) "TARGET NET WORKING CAPITAL" means Eight Million Three Hundred
       Ninety Three Thousand Dollars ($8,393,000.00).

              (vi) "CLOSING INDEBTEDNESS" means the amount of Indebtedness of
       the Company, net of positive Cash balances, as of 11:59 p.m. (Eastern
       Time) on the day immediately preceding the Closing Date (not taking into
       account the debt incurred by the Buyer or the Company in connection with
       the financing of the transactions contemplated by this Agreement).

              (vii) "EBITDA DEDUCTION" shall be an amount, if any, equal to the
       EBITDA Shortfall times seven and one-half (7.5); provided, however, in no
       event shall such amount be in excess of Four Million One Hundred
       Twenty-Five Thousand Dollars ($4,125,000).

              (viii) "EBITDA SHORTFALL" shall be the amount, if any, by which
       Closing EBITDA is less than Fifteen Million Eight Hundred Thousand
       Dollars ($15,800,000); provided, however, in no event shall such amount
       be in excess of Five Hundred Fifty Thousand Dollars ($550,000).

              (ix) "CLOSING EBITDA" shall be an amount equal to the Company's
       EBITDA for the twelve month period ending on the last day of the fiscal
       month ended immediately prior to the Closing Date.

              (x) "EBITDA", as used in calculating the Closing EBITDA and EBITDA
       Shortfall, means operating profit (it being understood that bonus and
       profit sharing expense shall be deducted in determining operating profit,
       and gains and losses on asset sales and insurance recoveries shall be
       excluded from determining operating profit): (A) plus depreciation and
       amortization, (B) plus non-recurring expense items (limited to
       shareholder expenses, pro forma operating leases, and normalized bonus
       and profit sharing expenses as discussed between the Buyer and identified
       by management of the Company which shall not exceed $3.2 million in the
       aggregate for any twelve -month period, net of $277,000 SERP expense
       reversal recorded in December 2002), and (C) plus any Transaction
       Expenses taken into account in the determination of operating income, in
       each case, as is determined in accordance with GAAP applied on a
       consistent basis with preparation of the Company's Financial Statements
       for the Most Recent Fiscal Year End.

              (xi) "NET WORKING CAPITAL DEDUCTION" means the amount, if any, by
       which Target Net Working Capital EXCEEDS Closing Net Working Capital.

              (xii) "ACCRUED OTHER TAXES" means accrued Taxes of the Company as
       of 11:59 p.m. (Eastern Time) on the day immediately preceding the Closing
       Date (excluding Liabilities relating to Income Taxes and deferred Taxes),
       which have an original due date that is on or after the Closing Date,
       determined in accordance with GAAP applied on a consistent basis with the
       preparation of the Company's Financial Statements for the Most Recent
       Fiscal Year End.

                                       12
<Page>

              (xiii) "ACCRUED OTHER TAXES ADJUSTMENT" means an amount equal to
       fifty percent (50%) of Accrued Other Taxes.

         (d) ESTIMATED PURCHASE PRICE. On or before the third (3rd) Business Day
preceding the Closing Date, Sellers' Representative shall furnish to Buyer a pro
forma calculation of the Purchase Price (the "ESTIMATED PURCHASE PRICE") with
reasonable detail and support substantially in the form attached hereto as
EXHIBIT A (which EXHIBIT A reflects a good faith estimate by the Sellers of the
Estimated Purchase Price on the date hereof), determined in accordance with
SECTIONS 2(B) and (C) above based upon Sellers' good faith estimate of the
Closing Indebtedness, Transaction Expenses, Closing Net Working Capital, Accrued
Other Taxes Adjustment and the EBITDA Deduction.

         (e) PAYMENT FROM BUYER TO SELLERS AND OPTION PAYEES. At the Closing,
Buyer shall deliver and pay (A) an amount in cash, by wire transfer to an
account designated in writing by the Sellers' Representative for further
distribution by the Sellers' Representative to Sellers and Option Payees, equal
to the Estimated Purchase Price, less Three Million Dollars ($3,000,000) (the
"PURCHASE PRICE ESCROW AMOUNT") to be held in an interest-bearing escrow to
satisfy any amounts payable to Buyer upon the final determination of the
Purchase Price pursuant to SECTION 2(F)(II) hereof, and less Six Million Dollars
($6,000,000) (the "INDEMNITY ESCROW AMOUNT", and, together with the Purchase
Price Escrow Amount, the "ESCROW AMOUNT") to be held in an interest-bearing
escrow to satisfy any amounts payable to Buyer pursuant to SECTION 8 hereof, and
(B) an amount in cash, by wire transfer to a Company account equal to the amount
of the Transaction Expenses as estimated in determining the Estimated Purchase
Price pursuant to SECTION 2(D) above for further distribution to the Transaction
Expenses payees at the Closing.

         (f) DETERMINATION OF PURCHASE PRICE.

              (i) Buyer will prepare (A) a balance sheet of the Company as of
       the Closing Date in accordance with GAAP applied on a consistent basis
       with the preparation of the Company's balance sheet for the Most Recent
       Fiscal Year End and (B) a detailed statement setting forth the Closing
       Indebtedness, Closing Net Working Capital, Transaction Expenses, Accrued
       Other Taxes Adjustment and EBITDA Deduction and the resulting Purchase
       Price (the "CLOSING FINANCIAL STATEMENTS") of the Company as 11:59 p.m.
       (Eastern Time) on the day immediately prior to the Closing Date,
       determined in accordance with SECTIONS 2(B) and 2(C) above. The Closing
       Financial Statements will also include a detailed statement prepared by
       Buyer setting forth Buyer's determination of the EBITDA Deduction. The
       Closing Financial Statements shall be fully supported by appropriate
       schedules and work papers. Buyer will deliver the Closing Financial
       Statements to the Sellers' Representative within sixty (60) days after
       the Closing Date. The Sellers' Representative shall have thirty (30) days
       following receipt of the Closing Financial Statements to give written
       notice to Buyer of any objection to the Closing Financial Statements. Any
       such written notice shall specify in reasonable detail those items or
       amounts as to which the Sellers' Representative disagrees (the "DISPUTED
       ITEMS") and Sellers' Representative shall be deemed to have agreed with
       all other items and amounts contained in the Closing Financial Statements
       except for such other items or amounts which are impacted by any Disputed
       Item or the resolution of any Disputed

                                       13
<Page>

       Item. If, within such thirty (30) day period the Sellers' Representative
       has not given Buyer written notice of its objection to the Closing
       Financial Statements, then the Purchase Price reflected in the Closing
       Financial Statements shall be final and binding on the Parties. If the
       Sellers' Representative gives such notice of objection, then the Parties
       shall attempt in good faith to resolve the Disputed Items for a period
       not less than ten (10) days. If the parties are unable to resolve the
       Disputed Items after such ten (10) day period, then the Disputed Items
       will be submitted for resolution in accordance with the terms hereof,
       including SECTIONS 2(B) and (C), to the Chicago office of Deloitte &
       Touche, LLP, certified public accountants, or, if Deloitte & Touche, LLP
       is unwilling or unable to accept such appointment, then to a nationally
       recognized independent accounting firm which is mutually agreeable to
       Buyer and the Sellers' Representative (the "ACCOUNTANTS"). If Buyer and
       the Sellers' Representative cannot agree on a nationally recognized
       independent accounting firm to serve as the Accountants, then Buyer and
       Sellers' Representative shall request the American Arbitration
       Association appoint such firm, and such appointment shall be conclusive
       and binding on the Parties. If the Disputed Items are submitted to the
       Accountants for resolution, (A) the Accountants shall function as an
       expert and not as an arbitrator; (B) each Party will furnish to the
       Accountants such workpapers and other documents and information relating
       to the Disputed Items as the Accountants may request and are available to
       that Party (or its independent public accountants), and will be afforded
       the opportunity to present to the Accountants any material relating to
       the Disputed Items and to discuss the Disputed Items with the
       Accountants; (C) the Accountants shall be bound by the provisions of this
       SECTION 2; (D) the Accountants shall make a determination only with
       respect to the Disputed Items and may not assign a value to any Disputed
       Item greater than the highest value for such Disputed Item claimed by
       either Party or less than the smallest value for such Disputed Item
       claimed by either Party; (E) the determination by the Accountants, as set
       forth in a notice delivered to both Parties by the Accountants, will be
       binding and conclusive on the Parties; and (F) Buyer and Sellers will
       each bear fifty percent (50%) of the fees of the Accountants for such
       determination.

              (ii) Not later than the fifth (5th) Business Day following the
       final determination of the Purchase Price in accordance with SECTION
       2(F)(I), (A) if the Purchase Price is greater than the Estimated Purchase
       Price, Buyer will pay the difference thereof and the Escrow Agent will
       distribute the Purchase Price Escrow Amount in accordance with the terms
       of the Escrow Agreement, to an account designated by the Sellers'
       Representative for further distribution by the Sellers' Representative to
       Sellers and Option Payees, and (B) if the Estimated Purchase Price is
       greater than the Purchase Price, then such difference shall be deducted
       from the Purchase Price Escrow Amount and distributed by the Escrow Agent
       to Buyer in accordance with the terms of the Escrow Agreement; PROVIDED
       that (x) if the excess of the Estimated Purchase Price over the Purchase
       Price is greater than the Purchase Price Escrow Amount, then Sellers
       shall pay the difference thereof to Buyer in cash by wire transfer to an
       account designated by Buyer, and (y) all such amounts payable by Sellers
       to Buyer pursuant to clause (x) above shall be the joint and several
       obligation of Sellers; PROVIDED FURTHER, that if the excess of the
       Estimated Purchase Price over the Purchase Price is less than the
       Purchase Price Escrow Amount, then the remainder of the Purchase Price
       Escrow Amount not distributable to Buyer shall be distributed by the
       Escrow Agent to the Sellers'

                                       14
<Page>

       Representative for further distribution by the Sellers' Representative to
       Sellers and Option Payees. Buyer and Sellers will cause the Escrow Agent
       to disburse the Purchase Price Escrow Amount in accordance with the
       resolution or determination of the Purchase Price as set forth herein.

         (g) CLOSING. The closing of the transactions contemplated by this
Agreement (the "Closing") shall take place at the offices of Weil, Gotshal &
Manges LLP in New York, New York commencing at 9:00 a.m. local time on the third
(3rd) Business Day following the satisfaction or waiver of all conditions to the
obligations of the Parties to consummate the transactions contemplated hereby
(other than conditions with respect to actions the respective Parties will take
at the Closing itself) or such other date as Buyer and Sellers may mutually
determine (the "CLOSING DATE").

         (h) DELIVERIES AT CLOSING. At the Closing, (i) Sellers will deliver to
Buyer the various certificates, instruments and documents referred to in SECTION
7(A) below, (ii) Buyer will deliver to Sellers the various certificates,
instruments and documents referred to in SECTION 7(B) below, (iii) each Seller
will deliver to Buyer stock certificates representing all of his, her, or its
Company Shares, endorsed in blank or accompanied by duly executed assignment
documents, (iv) Buyer will deliver and pay the Estimated Purchase Price, less
the Escrow Amount, as specified in SECTION 2(E) above, (v) Sellers will deliver
the Option Termination Agreements duly executed by the Option Payees, and (vi)
Buyer, the Sellers' Representative and an escrow agent to be mutually agreed to
by Sellers and Buyer (the "ESCROW AGENT") will execute and deliver the Escrow
Agreement substantially in the form attached hereto as EXHIBIT B (with such
changes as may be required by the Escrow Agent and reasonably acceptable to
Buyer and Sellers) (the "ESCROW AGREEMENT"), and Buyer will deliver and pay to
the Escrow Agent, the Escrow Amount to be held and distributed in accordance
with the terms of the Escrow Agreement.

         3. REPRESENTATIONS AND WARRANTIES CONCERNING TRANSACTION.

         (a) SELLERS' REPRESENTATIONS AND WARRANTIES. Each Seller, for himself,
herself or itself and not jointly and severally, represents and warrants to
Buyer that the statements contained in this Section 3(a) are correct and
complete as of the date of this Agreement and will be correct and complete as of
the Closing Date (as though made then and as though the Closing Date were
substituted for the date of this Agreement throughout this SECTION 3(A)) with
respect to himself, herself, or itself, except as set forth in ANNEX I attached
hereto.

              (i) AUTHORIZATION OF TRANSACTION. Such Seller has full power,
       legal capacity and authority to execute and deliver this Agreement and
       each other agreement, document, instrument or certificate contemplated
       herein or to be delivered in connection herewith and to perform his, her,
       or its obligations hereunder and thereunder. This Agreement constitutes
       the valid and legally binding obligation of such Seller, enforceable in
       accordance with its terms and conditions, except that such enforcement
       may be limited by (A) bankruptcy, insolvency, reorganization, moratorium
       or other similar laws relating to or affecting the rights or remedies of
       creditors, or (B) by general equitable principles (whether enforcement is
       sought in law or equity). The execution, delivery and performance of this
       Agreement and all other agreements contemplated hereby have been duly
       authorized by such Seller.

                                       15
<Page>

              (ii) NONCONTRAVENTION. Neither the execution and the delivery of
       this Agreement, nor the consummation of the transactions contemplated
       hereby, will (A) conflict with, violate or result in a default under any
       constitution, statute, regulation, rule, injunction, judgment, order,
       decree, ruling, charge or other restriction of any Governmental Entity
       (collectively, "LAWS") to which such Seller is subject or, if such Seller
       is an entity, any provision of its governing documents, (B) conflict
       with, result in a breach of, constitute a default under, result in the
       acceleration of, create in any party the right to accelerate, terminate,
       modify, or cancel, or require any notice under any Contract or other
       arrangement to which such Seller is a party or by which he, she, or it is
       bound or to which any of his or its assets is subject, or (C) result in
       the imposition or creation of a Lien upon or with respect to Company
       Shares. No consent, waiver, approval, order, permit or authorization of,
       or declaration or filing with, or notification to, any Person or
       Governmental Entity is required on the part of such Seller in connection
       with the execution and delivery of this Agreement, or any other Contract,
       document, instrument or certificate contemplated herein or to be
       delivered in connection herewith, or the compliance by such Seller with
       any of the provisions hereof or thereof, the consummation of the
       transactions contemplated hereby or the taking of any other action
       contemplated hereby.

              (iii) BROKERS' FEES. Such Seller has no liability or obligation to
       pay any fees or commissions to any broker, finder, or agent with respect
       to the transactions contemplated by this Agreement.

              (iv) COMPANY SHARES. Such Seller holds of record and owns
       beneficially the number of Company Shares set forth next to his, her, or
       its name in SECTION 3(A) OF THE DISCLOSURE SCHEDULE, free and clear of
       any restrictions on transfer (other than any restrictions under the
       Securities Act and state securities laws), Taxes, Liens, options,
       warrants, purchase rights, Contracts, commitments, equities, claims and
       demands. Except as set forth in SECTION 3(A) OF THE DISCLOSURE SCHEDULE,
       such Seller is not a party to any option, warrant, purchase right, or
       other Contract or commitment that could require such Seller to sell,
       transfer, or otherwise dispose of any capital stock of the Company (other
       than this Agreement).

         (b) BUYER'S REPRESENTATIONS AND WARRANTIES. Buyer represents and
warrants to Sellers that the statements contained in this SECTION 3(B) are
correct and complete as of the date of this Agreement and will be correct and
complete as of the Closing Date (as though made then and as though the Closing
Date were substituted for the date of this Agreement throughout this SECTION
3(B)), except as set forth in ANNEX II attached hereto.

              (i) ORGANIZATION OF BUYER. Buyer is a corporation duly organized,
       validly existing and in good standing under the laws of the jurisdiction
       of its incorporation (or other formation).

              (ii) AUTHORIZATION OF TRANSACTION. Buyer has full power and
       authority (including full corporate or other entity power and authority,
       including, without limitation, the approval of the board of directors of
       Buyer) to execute and deliver this Agreement and to perform its
       obligations hereunder. This Agreement constitutes the

                                       16
<Page>

       valid and legally binding obligation of Buyer, enforceable in accordance
       with its terms and conditions, except that such enforcement may be
       limited by (A) bankruptcy, insolvency, reorganization, moratorium or
       other similar laws relating to or affecting the rights or remedies of
       creditors, or (B) by general equitable principles (whether enforcement is
       sought in law or equity). Except with respect to the Hart-Scott-Rodino
       Act, the Industrial Site Recovery Act or any state securities Laws, Buyer
       is not required to give any notice to, make any filing with, or obtain
       any authorization, consent or approval of any Governmental Entity in
       order for it to consummate the transactions contemplated by this
       Agreement. The execution, delivery and performance of this Agreement and
       all other agreements contemplated hereby have been duly authorized by
       Buyer.

              (iii) NONCONTRAVENTION. Except as set forth on SECTION 3(B) OF
       ANNEX II, neither the execution and the delivery of this Agreement, nor
       the consummation of the transactions contemplated hereby, will (A)
       violate any Law to which Buyer is subject or any provision of its charter
       or bylaws or (B) conflict with, result in a breach of, constitute a
       default under, result in the acceleration of, create in any party the
       right to accelerate, terminate, modify or cancel, or require any notice
       under any agreement, Contract or other arrangement to which Buyer is a
       party or by which it is bound or to which any of its assets is subject.

              (iv) BROKERS' FEES. Buyer does not have any liability or
       obligation to pay any fees or commissions to any broker, finder or agent
       with respect to the transactions contemplated by this Agreement.

              (v) INVESTMENT. Buyer is not acquiring Company Shares with a view
       to or for sale in connection with any distribution thereof within the
       meaning of the Securities Act.

              (vi) FINANCIAL RESOURCES. To the extent Buyer will not be funding
       the Purchase Price from Buyer's cash on hand, Buyer has received
       commitment letters executed or entered into by and between Buyer and
       Credit Suisse First Boston, acting through its Cayman Islands branch, and
       by and between Buyer and the DLJMB Buyers (together, the "COMMITMENT
       LETTERS") which are in full force and effect, and which in accordance
       with the terms thereof are in an amount necessary to fund the Purchase
       Price in connection with the transactions contemplated hereby. True and
       correct copies of the executed Commitment Letters are attached hereto as
       EXHIBIT C. As of the date hereof, Buyer is not aware of any facts or
       circumstances with respect to the Company, Buyer or its lenders under the
       Commitment Letters that create a reasonable basis for Buyer to believe
       that Buyer would not be able to obtain the financing contemplated by the
       Commitment Letters.

         4. REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY. The Company
and Sellers, jointly and severally, represent and warrant to Buyer that the
statements contained in this SECTION 4 are correct and complete as of the date
of this Agreement and will be correct and complete as of the Closing Date (as
though made then and as though the Closing Date were substituted for the date of
this Agreement throughout this SECTION 4), except, with respect to any

                                       17
<Page>

particular subsection of this SECTION 4, as set forth in the corresponding
subsection of the disclosure schedule delivered by the Company and Sellers to
Buyer on the date hereof (the "DISCLOSURE SCHEDULE"). The Disclosure Schedule
will be arranged in paragraphs corresponding to the lettered and numbered
paragraphs contained in this SECTION 4. For purposes of this SECTION 4 (other
than with respect to Section 4(b)--Capitalization) and any other provision in
this Agreement that refers to the representations and warranties in this SECTION
4 all references to the "Company" shall be deemed to include the Company and any
and all of its Subsidiaries.

         (a) ORGANIZATION, QUALIFICATION AND CORPORATE POWER; CORPORATE RECORDS.
The Company is a corporation duly organized, validly existing and in good
standing under the laws of the Commonwealth of Pennsylvania. The Company is duly
authorized to conduct business and is in good standing under the laws of each
jurisdiction where such qualification is required, except where the lack of such
qualification would not, individually or in the aggregate, have a Material
Adverse Effect. The Company has full corporate power and authority to carry on
the businesses in which it is engaged and to own and use the properties owned
and used by it. SECTION 4(A) OF THE DISCLOSURE SCHEDULE lists the directors and
officers of the Company. The stock certificate books and stock transfer records
of the Company previously made available to Buyer are true, correct and
complete.

         (b) CAPITALIZATION. The entire authorized capital stock of Company
consists of 1,000,000 Company Shares, of which 195,466 Company Shares are issued
and outstanding and no Company Shares are held in treasury. All of the issued
and outstanding Company Shares have been duly authorized, are validly issued,
fully paid and nonassessable and are held of record by the respective Sellers as
set forth in SECTION 4(B) OF THE DISCLOSURE SCHEDULE. As of the date hereof,
there are 19,917 outstanding options to purchase Company Shares, which have an
aggregate option exercise price of $356,734 (the "COMPANY STOCK OPTIONS").
SECTION 4(B) OF THE DISCLOSURE SCHEDULE sets forth, with respect to each Company
Stock Option, the holder thereof, the number of Company Shares exercisable under
such Company Stock Option and the applicable exercise price per Company Share.
Except as set forth in this SECTION 4(B) or in SECTION 4(B) OF THE DISCLOSURE
SCHEDULE, there are no outstanding or authorized options, warrants, purchase
rights, subscription rights, conversion rights exchange rights or other
Contracts that could require the Company to issue, sell or otherwise cause to
become outstanding any of its capital stock, and there are no securities of the
Company outstanding which upon conversion or exchange would require the
issuance, sale or transfer of any additional shares of capital stock or other
equity securities of the Company or other securities convertible into,
exchangeable for or evidencing the right to subscribe for or purchase shares of
capital stock or other equity securities of the Company.

         (c) NONCONTRAVENTION; AUTHORIZATION OF TRANSACTION.

              (i) Neither the execution and the delivery of this Agreement, nor
       the consummation of the transactions contemplated hereby, will (A)
       violate any Law to which Company is subject or any provision of the
       charter or bylaws of the Company or (B) conflict with, result in a breach
       of, constitute a default under, result in the acceleration of, create in
       any party the right to accelerate, terminate, modify, or cancel, or
       require any notice under any material Contract or other material
       arrangement to which the Company is a party or by which it is bound or to
       which any of its assets is subject (or

                                       18
<Page>

       result in the imposition of any Lien upon any of its assets). Except with
       respect to the transfer of the Owned Real Property, the Hart-Scott-Rodino
       Act and the Industrial Site Recovery Act, the Company is not required to
       give any notice to, make any filing with, or obtain any material
       authorization, consent, or approval of any Governmental Entity in order
       for the Parties to consummate the transactions contemplated by this
       Agreement.

              (ii) The Company has full corporate power and authority to execute
       and deliver this Agreement and to perform its obligations hereunder. This
       Agreement constitutes the valid and legally binding obligation of the
       Company, enforceable in accordance with its terms and conditions, except
       that such enforcement may be limited by (A) bankruptcy, insolvency,
       reorganization, moratorium or other similar laws relating to or affecting
       the rights or remedies of creditors or (B) by general equitable
       principles (whether enforcement is sought in law or equity).

         (d) BROKERS' FEES. Other than fees payable to William Blair & Company,
L.L.C. (which will constitute Transaction Expenses to the extent unpaid as of
the Closing), the Company has no liability or obligation to pay any fees or
commissions to any broker, finder, or agent with respect to the transactions
contemplated by this Agreement.

         (e) TITLE TO ASSETS.

              (i) SECTION 4(E) OF THE DISCLOSURE SCHEDULE sets forth all
       material leases of properties and assets (other than with respect to
       Leased Real Property) used by the Company or to which the Company is
       bound or by which any of its properties or assets are bound (the
       "LEASES"). The Company has delivered or otherwise made available to Buyer
       true, correct and complete copies of all Leases, together with all
       amendments, modifications or supplements thereto. The Company has a valid
       leasehold interest under each of the Leases under which it is a lessee,
       subject to applicable bankruptcy, insolvency, reorganization, moratorium
       and similar laws affecting creditors' rights and remedies generally and
       subject, as to enforceability, to general principles of equity, and there
       is no default under any Lease by the Company or, to the Knowledge of the
       Company or Sellers by any other party thereto, and no event has occurred
       that with the lapse of time or the giving of notice or both would
       constitute a default thereunder.

              (ii) The Company has good title to, or a valid leasehold interest
       in, the properties and assets, whether tangible or intangible, used by
       it, located on its premises, or shown on the Most Recent Balance Sheet or
       acquired after the date thereof, free and clear of all Liens, except for
       properties and assets disposed of in the Ordinary Course of Business
       since the date of the Most Recent Balance Sheet. Such properties and
       assets comprise all of the assets necessary to operate the businesses of
       the Company as presently conducted in all material respects.

         (f) SUBSIDIARIES. Except as set forth in SECTION 4(F) OF THE DISCLOSURE
SCHEDULE, the Company (i) is not a general partner or limited partner of, or
party to any joint venture with any Person, and does not, directly or
indirectly, own any interest, including, without limitation any direct or
indirect equity or other investment or ownership interest in any corporation,
partnership, company, joint venture, association or other Person or (ii) does
not own

                                       19
<Page>

or have any right to acquire, directly or indirectly, any outstanding capital
stock or other equity interest of, or other investment or ownership interests
in, any Person. SECTION 4(F) OF THE DISCLOSURE SCHEDULE sets forth, with respect
to each Subsidiary, the jurisdiction in which it is incorporated or organized,
the jurisdictions, if any, in which it is qualified to do business, the number
of shares of its authorized capital stock, the number and class of shares
thereof duly issued and outstanding, the names of all stockholders or other
equity owners and the number of shares of stock owned by each stockholder or the
amount of equity owned by each equity owner. The outstanding shares of capital
stock or equity interests of each Subsidiary are validly issued, fully paid and
non-assessable, and all such shares or other equity interests represented as
being owned by the Company are owned by it free and clear of any and all Liens.
There is no existing option, warrant, call, right or Contract to which any
Subsidiary is a party requiring, and there are no convertible securities of any
Subsidiary outstanding which upon conversion would require, the issuance of any
shares of capital stock or other equity interests of any Subsidiary or other
securities convertible into shares of capital stock or other equity interests of
any Subsidiary.

         (g) FINANCIAL STATEMENTS. Attached hereto as EXHIBIT D are the
following financial statements of the Company (collectively, the "FINANCIAL
STATEMENTS"): (i) audited balance sheets and statements of operations, retained
earnings and cash flow as of and for the fiscal years ended December 31, 2000,
December 31, 2001 and December 31, 2002 (the "MOST RECENT FISCAL YEAR END"); and
(ii) unaudited balance sheet and statements of income and cash flow (the "MOST
RECENT FINANCIAL STATEMENTS") as of and for the six months ended July 5, 2003
(the "MOST RECENT FISCAL MONTH END"). Except as set forth in SECTION 4(G) OF THE
DISCLOSURE Schedule, the Financial Statements (including the notes thereto) have
been prepared in accordance with GAAP (other than with respect to the Most
Recent Financial Statements, the lack of footnotes and year-end adjustments)
applied on a consistent basis throughout the periods covered thereby and present
fairly the financial condition of the Company as of such dates and the results
of operations of the Company for such periods.

         (h) EVENTS SUBSEQUENT TO MOST RECENT FISCAL YEAR END. Since December
31, 2002, there has not been any Material Adverse Change. Without limiting the
generality of the foregoing, since that date through the date hereof:

              (i) the Company has not sold, leased, transferred, or assigned any
       assets, tangible or intangible, other than the sale of inventory in the
       Ordinary Course of Business;

              (ii) the Company has not entered into any Contract outside the
       Ordinary Course of Business;

              (iii) no party (including the Company) has outside of the Ordinary
       Course of Business accelerated, cancelled or terminated, nor have there
       been any amendments or modifications to, any material Contract, lease or
       license to which the Company is a party or by which it is bound;

              (iv) the Company has not imposed any Lien upon any of its assets,
       tangible or intangible;

                                       20
<Page>

              (v) the Company has not made, or failed to make, any capital
       expenditures outside the Ordinary Course of Business;

              (vi) the Company has not made any capital investment in any other
       Person;

              (vii) the Company has not created, incurred, assumed or guaranteed
       more than $100,000 in aggregate Indebtedness except as set forth on the
       face of the Most Recent Balance Sheet;

              (viii) the Company has not transferred, assigned or granted any
       license or sublicense of any rights under or with respect to any
       Intellectual Property;

              (ix) there has been no change made or authorized in the charter or
       bylaws of the Company;

              (x) the Company has not issued, sold or otherwise disposed of any
       of its capital stock, or granted any options, warrants or other rights to
       purchase or obtain (including upon conversion, exchange, or exercise) any
       of its capital stock;

              (xi) the Company has not declared, set aside, or paid any dividend
       or made any distribution with respect to its capital stock (whether in
       cash or in kind) or redeemed, purchased, or otherwise acquired any of its
       capital stock;

              (xii) the Company has not experienced any damage, destruction or
       loss (whether or not covered by insurance) to any of its properties or
       assets in excess of $25,000 for any single loss or $100,000 for all such
       losses;

              (xiii) the Company has not entered into any other transaction with
       any of its directors, officers and employees outside the Ordinary Course
       of Business;

              (xiv) the Company has not entered into any employment Contract or
       collective bargaining agreement, written or oral, or modified the terms
       of any existing Contract;

              (xv) the Company has not increased the compensation or benefits of
       any of its directors, officers and employees, except for changes in the
       Ordinary Course of Business, which, for this purpose shall not include
       any increase in annual salary or similar rate of pay greater than two and
       one-half percent (2 1/2%) per year or material increases in benefits not
       applicable to eligible employees generally;

              (xvi) the Company has not entered into, adopted, amended, modified
       or terminated any bonus, profit sharing, incentive, severance, or other
       plan, Contract, or commitment for the benefit of any of its directors,
       officers and employees (or taken any such action with respect to any
       other Employee Benefit Plan);

                                       21
<Page>

              (xvii) the Company has not made any material change in any method
       of accounting or accounting principles or practice, except for any such
       change required by reason of a change in GAAP;

              (xviii) the Company has not changed its Tax accounting or Tax
       reporting principles, methods or policies;

              (xix) the Company has not made or revoked any election relating to
       Taxes, settled or compromised any claim, action, suit, litigation,
       proceeding, arbitration, investigation, audit or controversy relating to
       Taxes;

              (xx) the Company has not instituted or settled any Legal
       Proceedings;

              (xxi) the Company has not loaned or advanced any money to any
       Person (other than advances to employees related to travel and expenses
       made in the Ordinary Course of Business); and

              (xxii) the Company has not committed or otherwise agreed to do any
       of the foregoing.

         (i) UNDISCLOSED LIABILITIES. The Company has no material liabilities,
whether known or unknown, whether asserted or unasserted, whether absolute or
contingent, whether accrued or unaccrued, whether liquidated or unliquidated and
whether due or to become due, including any liability for Taxes and any
off-balance sheet liability (collectively, "LIABILITIES"), except for (A)
Liabilities set forth in the Most Recent Balance Sheet, (B) Liabilities
disclosed in SECTION 4(I) OF THE DISCLOSURE SCHEDULE, and (C) Liabilities which
have arisen after the Most Recent Fiscal Month End in the Ordinary Course of
Business, which are not expected to be individually, or in the aggregate,
material.

         (j) LEGAL COMPLIANCE; PERMITS. The Company has complied and is in
compliance in all material respects with all Laws applicable to its business or
operations, and no Legal Proceeding has been filed or commenced against it
alleging any failure to so comply, and, to the Knowledge of the Company and
Sellers, there are no facts or circumstances that could form the Basis for any
such violation. SECTION 4(J) OF THE DISCLOSURE SCHEDULE contains a list of all
material permits, approvals, authorizations, consents, licenses or certificates
from any Governmental Entity that are required for the operation of the
businesses of the Company as presently conducted.

         (k) TAX MATTERS.

              (i) The Company has duly and timely filed all Income Tax Returns
       and all other Tax Returns which, if properly prepared and filed, would
       involve more than an immaterial amount of Tax due, that it was required
       to file with the appropriate taxing authorities in all jurisdictions in
       which such Tax Returns are required to be filed. All such Tax Returns
       were true, correct and complete, in each case, in all material respects.
       All Taxes due and owing by the Company (whether or not shown on any Tax
       Return) have been fully paid and all Taxes incurred as of the date of the
       Most Recent Balance Sheet but not yet due have been adequately reserved
       for on the Most Recent Balance

                                       22
<Page>

       Sheet (which reserves or accounts are set forth on the Company's detailed
       balance sheet). There are no Liens for Taxes (other than Taxes not yet
       due and payable) upon any of the assets of the Company. All required
       estimated Tax payments sufficient to avoid any underpayment penalties
       have been made by or on behalf of the Company. The Company has complied
       in all material respects with all applicable Laws relating to the payment
       and withholding of Taxes and has duly and timely withheld and paid over
       to the appropriate taxing authorities all amounts to be so withheld and
       paid over for all periods under all applicable Laws.

              (ii) All deficiencies asserted or assessments made as a result of
       any examinations by any taxing authority of the Tax Returns of the
       Company have been fully paid or are being validly contested (which
       contested Taxes, if any, are listed in SECTION 4(K)(II) OF THE DISCLOSURE
       SCHEDULE), and there are no other audits or to the Knowledge of any
       Seller or the Company, other investigations by any taxing authority in
       progress other than those listed in SECTION 4(K)(II) OF THE DISCLOSURE
       SCHEDULE, nor has any Seller or the Company received any notice from any
       taxing authority that it intends to conduct such an audit or
       investigation or that any claim for unpaid Taxes has become a Lien of any
       kind against the property of the Company or is being asserted against the
       Company. No issue has been raised by any taxing authority in any current
       or prior examination which, by application of the same or similar
       principles, could reasonably be expected to result in a proposed
       deficiency for any subsequent taxable period.

              (iii) SECTION 4(K)(III) OF THE DISCLOSURE SCHEDULE lists all
       federal, state, local and foreign franchise, sales or Income Tax Returns
       filed with respect to the Company for taxable periods ended on or after
       December 31, 2000, indicates those franchise, sales and Income Tax
       Returns that have been audited and indicates those franchise, sales and
       Income Tax Returns that currently are the subject of audit. In addition,
       SECTION 4(K)(III) OF THE DISCLOSURE SCHEDULE lists all franchise, sales
       and Income Taxes paid for taxable periods ended on or after December 31,
       2000. No claim has been made by a taxing authority in a jurisdiction
       where the Company does not file Tax Returns such that it is or may be
       subject to taxation by that jurisdiction. Buyer has received complete
       copies of all franchise and Income Tax Returns and all audit reports
       issued within the last three (3) years with respect to such Tax Returns.
       The Company has not waived any statute of limitations in respect of Taxes
       or requested or agreed to any extension of time with respect to a Tax
       assessment or deficiency.

              (iv) Neither the Company nor any other Person (including any
       Seller) on behalf of the Company has on or prior to the Closing Date (A)
       filed a consent under Code Section 341(f) concerning collapsible
       corporations, (B) agreed to or is required to make any adjustments
       pursuant to Code Section 481(a) or any similar provision of law or has
       any Knowledge that any taxing authority has proposed any such adjustment,
       or has any application pending with any taxing authority requesting
       permission for any change in accounting methods that relate to the
       Company or (C) executed or entered into a closing agreement pursuant to
       Code Section 7121 or any similar provision of law with respect to the
       Company. Company has not been a United States real property holding
       corporation within the meaning of Code Section 897(c)(2) during the
       applicable period specified in Code Section 897(c)(1)(A)(ii). The Company
       is not a party to or bound by

                                       23
<Page>

       any Tax allocation, indemnity, sharing or similar arrangement or
       agreement. The Company (x) is not and has not been a member of an
       Affiliated Group filing a consolidated federal Income Tax Return (other
       than a group the common parent of which was the Company) and (y) has no
       liability for the Taxes of any Person (other than the Company) under
       Treasury Regulation Section 1.1502-6 (or any similar provision of Law),
       as a transferee or successor, by Contract, or otherwise. No Seller is a
       foreign person within the meaning of Code Section 1445.

              (v) Except as provided in SECTION 4(K)(V) OF THE DISCLOSURE
       SCHEDULE, no property owned by the Company is (i) property required to be
       treated as being owned by another Person pursuant to the provisions of
       Section 168(f)(8) of the Internal Revenue Code of 1954, as amended and in
       effect immediately prior to the enactment of the Tax Reform Act of 1986,
       (ii) "tax-exempt use property" within the meaning of Code Section
       168(h)(1), (iii) "tax-exempt bond financed property" within the meaning
       of Code Section 168(g), (iv) subject to Code Section 168(g)(1)(A) or (v)
       "limited use property" within the meaning of Rev. Proc. 2001-28.

              (vi) The Company is not a party to or bound by (A) any Contract,
       plan or arrangement covering any Person that, individually or
       collectively, could give rise to the payment of any amount that would not
       be deductible by Buyer or its Affiliates by reason of Code Section 280G,
       (B) any private letter ruling of the Internal Revenue Service or
       comparable rulings of other taxing authorities or (C) any power of
       attorney with respect to any Tax matter that is currently in force.

              (vii) The Company has not constituted a "controlled corporation"
       (within the meaning of Code Section 355(a)(1)(A)) in a distribution of
       stock qualifying for tax-free treatment under Code Section 355 (A) in the
       two (2) years prior to the date hereof or (B) in a distribution which
       could otherwise constitute part of a "plan" or "series of related
       transactions" (within the meaning of Code Section 355(e)) in conjunction
       with the transactions contemplated by this Agreement.

              (viii) There is no taxable income of the Company that will be
       required under applicable Tax Law to be recognized by Buyer or its
       Affiliates, including the Company, for a taxable period beginning after
       the Closing Date which taxable income was realized and resulted in
       economic income (i.e., the receipt of cash or other property arising from
       such realization) prior to the Closing Date.

              (ix) SECTION 4(K)(IX) OF THE DISCLOSURE SCHEDULE sets forth the
       tax basis of the fixed assets of the Company, for each of the Company's
       operating divisions, as of the Most Recent Fiscal Year End as such tax
       bases are reflected on the books and records of the Company.

         (l) REAL PROPERTY.

              (i) SECTION 4(L)(I) OF THE DISCLOSURE SCHEDULE sets forth the
       address and legal description of each parcel of Owned Real Property. With
       respect to each parcel of Owned Real Property:

                                       24
<Page>

                     (A) Except as set forth in SECTION 4(L)(I)(A) OF THE
              DISCLOSURE Schedule, the Company has good and marketable fee
              simple title, free and clear of all Liens, except Permitted
              Encumbrances;

                     (B) except as set forth in SECTION 4(L)(I)(B) OF THE
              DISCLOSURE SCHEDULE, the Company has not leased or otherwise
              granted to any Person the right to use or occupy such Owned Real
              Property or any portion thereof; and

                     (C) there are no outstanding options, rights of first offer
              or rights of first refusal to purchase such Owned Real Property or
              any portion thereof or interest therein.

              (ii) SECTION 4(L)(II) OF THE DISCLOSURE SCHEDULE sets forth the
       address of each parcel of Leased Real Property and a true and complete
       list of all Real Property Leases for each such Leased Real Property
       (including the date and name of the parties to such Real Property Lease
       document). Sellers have delivered or made available to Buyer a true and
       complete copy of each such Real Property Lease document and in the case
       of any oral Lease, a written summary of the material terms of such Real
       Property Lease. Except as set forth in SECTION 4(L)(II) OF THE DISCLOSURE
       SCHEDULE, with respect to each of the Real Property Leases:

                     (A) such Real Property Lease is legal, valid, binding,
              enforceable and in full force and effect;

                     (B) the transaction contemplated by this Agreement does not
              require the consent of any other party to such Lease, will not
              result in a breach of or default under such Real Property Lease
              and will not otherwise cause such Real Property Lease to cease to
              be legal, valid, binding, enforceable and in full force and effect
              on identical terms following the Closing;

                     (C) neither the Company nor, to the Knowledge of Sellers
              and the Company, any other party to the Real Property Lease is in
              material breach or default under such Lease; and

                     (D) the Company has not subleased, licensed or otherwise
              granted any Person the right to use or occupy such Leased Real
              Property or any portion thereof.

              (iii) The Owned Real Property identified in SECTION 4(L)(I) OF THE
       DISCLOSURE SCHEDULE and the Leased Real Property identified in SECTION
       4(L)(II) OF THE DISCLOSURE SCHEDULE (collectively, the "REAL PROPERTY")
       comprise all of the real property used in the business of the Company;
       and the Company is not a party to any agreement or option to purchase any
       real property or interest therein.

              (iv) All buildings, structures, fixtures, building systems and
       equipment and all components thereof, included in the Real Property (the
       "IMPROVEMENTS") are, in all material respects, sufficient for the
       operation of the business of the Company.

                                       25
<Page>

              (v) The Company has not received written notice of any
       condemnation, expropriation or other proceeding in eminent domain
       affecting any parcel of Real Property or any portion thereof or interest
       therein.

              (vi) To the Knowledge of the Company and Sellers, the Owned Real
       Property is in material compliance with all applicable building, zoning,
       subdivision, health and safety and other land use Laws, and all insurance
       requirements affecting the Real Property (collectively, the "REAL
       PROPERTY LAWS"). The Company has not received any notice of violation of
       any Real Property Law and, to the Knowledge of the Company and Sellers,
       there is no reasonable Basis for the issuance of any such notice or the
       taking of any action for such violation.

              (vii) To the Knowledge of the Company and Sellers, the current use
       and occupancy of the Real Property and the operation of the business of
       Company as currently conducted thereon does not violate in any material
       respect any easement, covenant, condition, restriction or similar
       provision in any instrument of record or other unrecorded agreement
       affecting such Real Property.

              (viii) To the Knowledge of the Company and Sellers, none of the
       Real Property or any portion thereof is located in a flood hazard area
       (as defined by the Federal Emergency Management Agency).

         (m) INTELLECTUAL PROPERTY.

              (i) Since December 31, 1997, the Company has not interfered with,
       infringed upon, misappropriated, or violated any Intellectual Property
       rights of any third Person in any material respect and, since December
       31, 1997, neither the Company nor Sellers have received any charge,
       complaint, claim, demand, or notice alleging any such interference,
       infringement, misappropriation, or violation (including any claim that
       the Company must license or refrain from using any Intellectual Property
       rights of any Person). To the Knowledge of the Company and Sellers, no
       Person has interfered with, infringed upon, misappropriated, or violated
       any material Intellectual Property rights of the Company in any material
       respect.

              (ii) SECTION 4(M)(II) OF THE DISCLOSURE SCHEDULE identifies each
       patent or other registration which has been issued to the Company with
       respect to any of its Intellectual Property, identifies each pending
       patent application or other application for registration which the
       Company has made with respect to any of its Intellectual Property and
       identifies each material license, sublicense, agreement, or other
       permission which the Company has granted to any Person with respect to
       any of its Intellectual Property (together with any exceptions). SECTION
       4(M)(II) OF THE DISCLOSURE SCHEDULE also identifies each material trade
       name or unregistered trademark, service mark, corporate name, fictional
       business name, Internet domain name and copyright used by the Company in
       connection with any of its businesses. With respect to each material item
       of Intellectual Property used by the Company in connection with any of
       its businesses:

                                       26
<Page>

                     (A) the Company possesses all right, title and interest in
              and to the item, free and clear of any Lien, license or other
              restriction;

                     (B) the item is not subject to any outstanding injunction,
              judgment, order, decree, ruling or charge;

                     (C) no Legal Proceeding is pending or, to the Knowledge of
              the Company and Sellers, threatened, and no opposition,
              cancellation proceeding or notice of such has been received, which
              challenges the legality, validity, enforceability, use or
              ownership of the item;

                     (D) the Company has taken reasonable steps to protect the
              Company's rights in and to each item and to prevent the
              unauthorized use thereof by any other person;

                     (E) all registrations have been effectively registered in
              accordance with all applicable legal requirements and are
              currently in compliance with all applicable legal requirements in
              all material respects (including as to payment of maintenance fees
              and the like);

                     (F) to the Knowledge of the Company and Sellers, there has
              been no prior use of any Intellectual Property by any Person which
              would confer upon such Person superior rights in the Intellectual
              Property.

              (iii) SECTION 4(M)(III) OF THE DISCLOSURE SCHEDULE identifies each
       material item of Intellectual Property that any other Person owns and
       that the Company uses pursuant to license, sublicense, agreement or
       permission. With respect to each item of Intellectual Property required
       to be identified in SECTION 4(M)(III) OF THE DISCLOSURE SCHEDULE:

                     (A) the license, sublicense, agreement or permission
              covering the item is legal, valid, binding, enforceable and in
              full force and effect in all material respects;

                     (B) no party to the license, sublicense, agreement or
              permission is in material breach or default and no event has
              occurred which with notice or lapse of time would constitute a
              material breach or default or permit termination, modification or
              acceleration thereunder;

                     (C) no party to the license, sublicense, agreement or
              permission has repudiated any material provision thereof;

                     (D) the Company has not granted any sublicense or similar
              right with respect to the license, sublicense, agreement or
              permission; and

                     (E) no loss or expiration of the item is threatened,
              pending or reasonably foreseeable, except for patents expiring at
              the end of their statutory terms (and not as a result of any act
              or omission by Sellers or the Company,

                                       27
<Page>

              including without limitation, a failure by Sellers or the Company
              to pay any required maintenance fees).

         (n) TANGIBLE ASSETS. The buildings, machinery, equipment and other
tangible assets that the Company owns or leases, taken as a whole, are free from
material defects (patent and latent), have been maintained in accordance with
normal industry practice and are, in all material respects, in good operating
condition and repair (subject to normal wear and tear).

         (o) INVENTORY. The inventory of the Company consists of raw materials
and supplies, manufactured and processed materials, work in process and finished
goods, all of which is merchantable and fit for the purpose for which it was
procured or manufactured. Adequate reserves have been reflected in the Most
Recent Balance Sheet for obsolete or otherwise unusable inventory and were
calculated in a manner consistent with past practice and in accordance with
GAAP.

         (p) CONTRACTS. SECTION 4(P) OF THE DISCLOSURE SCHEDULE lists the
following oral or written contracts, agreements, instruments, notes, bonds,
indentures, leases, licenses, or binding commitments (collectively, "CONTRACTS")
to which the Company is a party as of the date hereof:

              (i) any Leases the payments of which exceed $20,000 annually;

              (ii) any Contract (or group of related Contracts), including
       purchase orders for the purchase or sale of raw materials, commodities,
       supplies, products or other personal property, or for the furnishing or
       receipt of services, that involves consideration in excess of $250,000 in
       the aggregate;

              (iii) any Contract concerning a partnership or similar joint
       venture;

              (iv) any Contract (or group of related Contracts) under which it
       has created, incurred, assumed, or guaranteed any Indebtedness in excess
       of $100,000 or under which it has imposed a Lien on any of its assets,
       tangible or intangible;

              (v) any Contract containing covenants not to compete by the
       Company in any line of business or with any Person in any geographical
       area or any material Contracts with any Person not to compete with the
       Company (other than as contained in employment agreements);

              (vi) any Contract with any of Sellers or their Affiliates (other
       than the Company);

              (vii) any collective bargaining agreement or other Contract with
       any labor union or association representing any employee of the Company;

              (viii) any Contract for the employment of any individual on a
       full-time, part-time, consulting, or other basis providing annual
       compensation in excess of $150,000 or providing material severance
       benefits;

                                       28
<Page>

              (ix) any Contract under which it has advanced or loaned any amount
       to any of its directors, officers and employees (other than advances
       relating to travel and expenses made in the Ordinary Course of Business);

              (x) any Contract that relates to rebates, allowances or discounts
       outside the Ordinary Course of Business;

              (xi) any Contract providing for guarantee or surety by the
       Company;

              (xii) any Contract which provides for annual payments in excess of
       $250,000 pursuant to which, to the Knowledge of the Company or Sellers,
       the Company has agreed to indemnify another Person other than in
       connection with the sale of the Company's products; and

              (xiii) any Contract under which the Company has made advances or
       loans to any other Person amounts in the aggregate exceeding $25,000.

         With respect to each such Contract set forth on SECTION 4(P) OF THE
DISCLOSURE SCHEDULE: (A) the agreement is legal, valid, binding, enforceable and
in full force and effect in all material respects; (B) the Company is not, nor,
to the Knowledge of the Company or Sellers, is any other party, in material
breach or default and no event has occurred which with notice or lapse of time
would constitute a material breach or default, or permit termination,
modification or acceleration, under the Contract; and (C) no party has
repudiated any material provision of any such Contract.

         (q) NOTES AND ACCOUNTS RECEIVABLE; ACCOUNTS PAYABLE.

              (i) All notes and accounts receivable of the Company are reflected
       properly on its books and records in accordance with GAAP, and are valid
       receivables subject to no setoffs or counterclaims. All accounts
       receivable of the Company have arisen from bona fide transactions in the
       Ordinary Course of Business.

              (ii) All accounts payable of the Company reflected in the Most
       Recent Balance Sheet or arising after the date thereof are the result of
       bona fide transactions in accordance with GAAP applied on a consistent
       basis.

         (r) POWERS OF ATTORNEY. To the Knowledge of the Company and Sellers,
there are no outstanding material powers of attorney executed on behalf of the
Company.

         (s) INSURANCE. SECTION 4(S) OF THE DISCLOSURE SCHEDULE sets forth the
following information with respect to each insurance policy (including policies
providing property, casualty, liability and workers' compensation coverage and
bond and surety arrangements) with respect to which the Company is a party, a
named insured or otherwise the beneficiary of coverage:

              (i) the type of insurance coverage;

              (ii) the name, address and telephone number of the agent;

                                       29
<Page>

              (iii) the name of the insurer, the name of the policyholder and
       the name of each covered insured;

              (iv) the policy number and the period of coverage; and

              (v) the premium, scope (including an indication of whether the
       coverage is on a claims made, occurrence, or other basis) and amount
       (including a description of how deductibles and ceilings are calculated
       and operate) of coverage.

         With respect to each such insurance policy: (A) the policy is legal,
valid, binding, enforceable and in full force and effect in all material
respects; (B) neither the Company nor any other party to the policy is in
material breach or default (including with respect to the payment of premiums or
the giving of notices) and no event has occurred which, with notice or the lapse
of time, would constitute such a material breach or default, or permit
termination, modification, or acceleration, under the policy; (C) no party to
the policy has repudiated any material provision thereof; (D) each are in such
amounts and provide coverage that are reasonable and customary in light of the
businesses, operations and properties of the Company; and (E) the insurer of
such policy has not threatened to cancel such policy nor has any insurer
cancelled a policy during the previous five years. SECTION 4(S) OF THE
DISCLOSURE SCHEDULE describes any material self-insurance arrangements affecting
the Company.

         (t) LITIGATION. SECTION 4(T) OF THE DISCLOSURE SCHEDULE sets forth each
instance in which the Company or any of its officers, directors or employees of
the Company with respect to their business activities on behalf of the Company
(i) is subject to any outstanding injunction, judgment, order, decree, ruling,
or charge, (ii) is a defendant or, to the Knowledge of the Company and Sellers,
is threatened to be made a defendant to any action, suit, proceeding, hearing or
investigation or (iii) is a plaintiff to any material action, suit, proceeding,
hearing or investigation ("LEGAL PROCEEDING") of, in or before any Governmental
Entity.

         (u) EMPLOYEES.

              (i) To the Knowledge of the Company, there is no dispute between
       the Company and any of its current and former employees or consultants
       related to compensation, severance pay, vacation benefits, pension
       benefits, or discrimination.

              (ii) Except as set forth in SECTION 4(U)(II) OF THE DISCLOSURE
       SCHEDULE, (A) the Company is not a party to or bound by any collective
       bargaining agreement, (B) none of the Company's employees is represented
       by any labor organization, (C) the Company has not experienced any strike
       or material grievance, claim of unfair labor practices or other
       collective bargaining dispute within the past three (3) years, and (D) to
       the Knowledge of the Company and Sellers, there is no material grievance
       currently pending or threatened by any employee against the Company. The
       Company has not committed any material unfair labor practice. The Company
       and Sellers have no Knowledge of any organizational effort presently
       being made or threatened by or on behalf of any labor union with respect
       to employees of Company. The Company is in compliance in all material
       respects with all currently applicable Laws respecting employment, equal
       employment opportunity, nondiscrimination, wages, hours and

                                       30
<Page>

       occupational health and safety. The Company is and, during the term of
       its current collective bargaining agreements, has been in compliance with
       all of its obligations under such collective bargaining agreements,
       except where any noncompliance could not reasonably result in material
       liability.

              (iii) Each individual who renders services to the Company who is
       or has been classified by the Company as having the status of an
       independent contractor or other non-employee status for any purpose
       (including for purposes of Taxes and under Employee Benefit Plans) is and
       has been properly so characterized.

              (v) EMPLOYEE BENEFITS.

         SECTION 4(V) OF THE DISCLOSURE SCHEDULE lists each Employee Benefit
Plan that the Company has any Liability, contingent or otherwise, and separately
identifies each such plan which is a "multiemployer plan" within the meaning of
Section 3(37) of ERISA ("MULTIEMPLOYER PLAN"). Except as set forth in SECTION
4(V) OF THE DISCLOSURE SCHEDULE:

              (i) Each such Employee Benefit Plan (and each related trust,
       insurance contract or fund) has been maintained, funded and administered
       in accordance with the terms of such Employee Benefit Plan and complies
       in form and in operation in all material respects with the applicable
       requirements of ERISA, the Code and other applicable Laws;

              (ii) All required reports and descriptions (including Form 5500
       annual reports, summary annual reports and summary plan descriptions)
       have been timely filed and/or distributed in accordance with the
       applicable requirements of ERISA and the Code with respect to each such
       Employee Benefit Plan. The requirements of COBRA have been met in all
       material respects with respect to each such Employee Benefit Plan and
       each Employee Benefit Plan maintained by an ERISA Affiliate which is an
       Employee Welfare Benefit Plan subject to COBRA;

              (iii) All contributions (including all employer contributions and
       employee salary reduction contributions) that are due have been made
       within the time periods prescribed by ERISA and the Code to each such
       Employee Benefit Plan that is an Employee Pension Benefit Plan and all
       contributions for any period ending on or before the Closing Date which
       are not yet due have been made to each such Employee Pension Benefit Plan
       or accrued in accordance with the past custom and practice of the
       Company. All premiums or other payments for all periods ending on or
       before the Closing Date have been paid with respect to each such Employee
       Benefit Plan that is an Employee Welfare Benefit Plan;

              (iv) Each such Employee Benefit Plan that is intended to meet the
       requirements of a "qualified plan" under Code Section 401(a) is so
       qualified, and, to the Knowledge of the Company and Sellers, there are no
       facts or circumstances that could adversely affect the qualified status
       of any such Employee Benefit Plan;

              (v) There have been no non-exempt Prohibited Transactions with
       respect to any such Employee Benefit Plan or any Employee Benefit Plan
       maintained by

                                       31
<Page>

       an ERISA Affiliate. To the Knowledge of the Company and the Sellers, no
       Fiduciary has any Liability for material breach of fiduciary duty or any
       other material failure to act or comply in connection with the investment
       of the assets or administration of any such Employee Benefit Plan. No
       Legal Proceeding with respect to the administration or the investment of
       the assets of any such Employee Benefit Plan (other than routine claims
       for benefits) is pending or, to the Knowledge of the Company or any
       Seller, threatened;

              (vi) Sellers have delivered to Buyer correct and complete copies
       of the plan documents and summary plan descriptions, the most recent
       determination letter received from the Internal Revenue Service, the most
       recent annual report (Form 5500, with all applicable attachments) and all
       related trust agreements, insurance contracts and other funding
       arrangements that implement each such Employee Benefit Plan;

              (vii) SECTION 4(V)(VII) OF THE DISCLOSURE SCHEDULE sets forth for
       each Employee Benefit Plan subject to Title IV of ERISA (other than any
       Multiemployer Plan) the amount, if any, by which the present value of the
       projected benefit obligations of such plan as shown on the January 1,
       2003 Actuarial Valuation (calculated in accordance with the actuarial
       assumptions and methodologies used for GAAP financial disclosure purposes
       as set forth in the Financial Statements for the Most Recent Fiscal Year
       End, but adjusted for discount rates applicable as of the date hereof)
       exceed the fair market value of the assets (excluding any accrued and
       unpaid contributions) of such plan as of June 30, 2003;

              (viii) Neither the execution and delivery of this Agreement nor
       the consummation of the transactions contemplated hereby will (A) result
       in any payment becoming due to or increase any amount payable to any
       current or former employee, director or consultant of the Company, (B)
       require to be established or any amount to be contributed to any trust,
       insurance policy or other funding vehicle for the benefit of any current
       or former employee, director or consultant of the Company, or (C) result
       in the acceleration of the time of payment of, vesting of or other rights
       with respect to any compensation or benefits under any such Employee
       Benefit Plan or any employment, consulting, severance or similar
       agreement;

              (ix) If the Company and all of its ERISA Affiliates made a
       complete withdrawal from each Multiemployer Plan, the Company and its
       ERISA Affiliates would not have any liability to such Multiemployer Plan
       under Title IV of ERISA or the terms of such Multiemployer Plan; and

              (x) All representations set forth in subsections (i) through (ix)
       of this SECTION 4(V) with respect to any Multiemployer Plan are made only
       to the extent of the Knowledge of the Company and Sellers.

         (w) GUARANTIES. The Company is not a guarantor or otherwise responsible
for any Liability (including Indebtedness) of any other Person.

                                       32
<Page>

         (x) ENVIRONMENTAL MATTERS.

         The representations and warranties contained in this SECTION 4(X) are
the sole and exclusive representations and warranties of the Company and
Sellers, pertaining or relating to Environmental Requirements, Environmental
Claims or Hazardous Substances.

         Except as disclosed in SECTION 4(X) OF THE DISCLOSURE SCHEDULE:

              (i) The Company and its predecessors have complied and are in
       compliance, in each case in all material respects, with all Environmental
       Requirements and, to the Knowledge of the Company and Sellers, there are
       no facts, circumstances or conditions that could reasonably be expected
       to prevent continued compliance with Environmental Requirements. There
       has been no release of Hazardous Substances at, on, under or from any
       property now or formerly owned, operated, or leased by or for the Company
       at concentrations exceeding those allowed by Environmental Requirements
       or requiring remedial activity under Environmental Requirements.

              (ii) Without limiting the generality of the foregoing, the Company
       has obtained, has complied with and is in compliance with, in each case
       in all material respects, all material permits, licenses and other
       authorizations that are required pursuant to Environmental Requirements
       for the occupation and use of its facilities and the operation of its
       business; a list of all such material permits, licenses and other
       authorizations is set forth on SECTION 4(X)(II) OF THE DISCLOSURE
       SCHEDULE.

              (iii) Since December 31, 1997, the Company has not received any
       written notice, report or other information regarding any actual or
       alleged material violation of Environmental Requirements, or any material
       Liabilities or potential material Liabilities, including any material
       investigatory, remedial or corrective obligations, relating to any of
       them or its facilities arising under Environmental Requirements, and, to
       the Knowledge of the Company and Sellers, no facts, circumstances or
       conditions exist prior to December 31, 1997, regarding actual or alleged
       violations by or Liability or potential liability of the Company or the
       Subsidiaries under Environmental Requirements that individually or in the
       aggregate would reasonably be expected to result in the Company incurring
       material environmental Liabilities under Environmental Requirements.

              (iv) Neither the Company nor any of its predecessors has treated,
       stored, disposed of, arranged for or permitted the disposal of,
       transported, handled or released any substance, including without
       limitation any hazardous substance, or owned or operated any property or
       facility (and no such property or facility is contaminated by any such
       substance) in a manner that has given or would give rise to material
       liabilities, including any material Liability for response costs,
       corrective action costs, personal injury, property damage, natural
       resources damages or attorney fees, pursuant to CERCLA, or the Solid
       Waste Disposal Act, as amended ("SWDA"), or any other Environmental
       Requirements.

                                       33
<Page>

              (v) Neither this Agreement nor the consummation of the transaction
       that is the subject of this Agreement will result in any material
       obligations for site investigation or cleanup, or notification to or
       consent of Government Entities or third parties, pursuant to any of the
       so-called "transaction-triggered" or "responsible property transfer"
       Environmental Requirements, including, but not limited to the Industrial
       Site Recovery Act.

         (y) CERTAIN BUSINESS RELATIONSHIPS WITH COMPANY. None of Sellers, their
Affiliates and the Company's directors, officers, employees and shareholders
have been involved in any material business arrangement or relationship with
Company within the past twelve (12) months and none of the Sellers, their
Affiliates and Company's directors, officers, employees and shareholders owns
any material asset, tangible or intangible, that is used in the business of the
Company. Except as set forth in SECTION 4(Y) OF THE DISCLOSURE SCHEDULE, none of
the Company's Affiliates, officers, directors, employees, stockholders or any of
their Affiliates owns any direct or indirect interest of any kind in, or
controls or is a director, officer, employee or partner of, or consultant to, or
lender to or borrower from or has the right to participate in the profits of,
any Person which is a competitor, supplier, customer, landlord, tenant, creditor
or debtor of the Company.

         (z) CUSTOMERS AND SUPPLIERS. SECTION 4(Z) OF THE DISCLOSURE SCHEDULE
lists the ten (10) largest customers of the Company's Lehigh Direct division,
the ten (10) largest customers of the Company's Lehigh Lithographers division
and the ten (10) largest suppliers of the Company for the Most Recent Fiscal
Year End and sets forth opposite the name of each such customer the dollar sales
and approximate percentage of consolidated net sales attributable to such
customer during such fiscal year and opposite the name of each such supplier the
dollar purchases attributable to such supplier. Since the date of the Most
Recent Fiscal Year End the customers listed on SECTION 4(Z) OF THE DISCLOSURE
SCHEDULE have not indicated in writing that they shall stop, or materially
decrease the rate of, buying materials, products or services from the Company.
In addition, the Company has not received any written notice from any such
supplier of any material adverse change in the price (excluding normal price
fluctuations), quality and delivery terms and conditions on which such supplier
will continue to make delivery of such item or in the financial condition of
such supplier, and, to the Knowledge of the Company and Sellers, the
consummation of the transactions contemplated by this Agreement will not cause
any of such events to happen.

         (aa) BANK ACCOUNTS. SECTION 4(AA) OF THE DISCLOSURE SCHEDULE contains a
complete and correct list of the names and locations of all banks in which the
Company has accounts or safe deposit boxes and the names of all persons
authorized to draw thereon or to have access thereto, and with respect to such
accounts, the purpose for and the account number for each such account.

         (bb) PRODUCT QUALITY AND WARRANTY CLAIMS. All products and services
sold, rented, leased, provided or delivered by the Company to customers on or
prior to the Closing Date conform or will conform in all material respects to
applicable Contractual commitments, express and implied warranties, product and
service specifications and quality standards, and, to the Knowledge of the
Company and Sellers, the Company does not have any Liability for replacement or
repair thereof or other damages in connection therewith, except for adjustments

                                       34
<Page>

made in the Ordinary Course of Business consistent with past practice. To the
Knowledge of the Company and Sellers, no product or service sold, leased,
rented, provided or delivered by the Company to customers on or prior to the
Closing Date pursuant to a Contract which provides for annual payments in excess
of $250,000 is subject to any guaranty, warranty or other indemnity for
consequential damages or other damages other than for the repair or replacement
thereof.

         (cc) BOOKS AND RECORDS. The books, records and accounts of the Company
accurately and fairly reflect, in reasonable detail, the transactions and the
assets and liabilities of the Company. The Company has not engaged in any
transaction, maintained any bank account or used any funds except for
transactions, bank accounts and funds which have been and are reflected in the
normally maintained books and records of the Company. The Company has
established and maintains disclosure controls and procedures that are
commercially reasonable and, to the Knowledge of the Company and Sellers, such
disclosure controls and procedures are effective in timely alerting the
Company's principal executive officer or its principal financial officer to
material information which such principal officers and independent auditors deem
necessary to be provided to them.

         5. PRE-CLOSING COVENANTS. The Parties agree as follows with respect to
the period between the execution of this Agreement and the Closing.

         (a) GENERAL. Each of the Parties will use his, her or its commercially
reasonable efforts to take all action and to do all things necessary, proper or
advisable in order to consummate and make effective the transactions
contemplated by this Agreement (including satisfaction, but not waiver, of the
closing conditions set forth in SECTION 7 below).

         (b) NOTICES AND CONSENTS. The Company shall, and Sellers will cause the
Company to, give any notices to third parties and will cause the Company to use
its commercially reasonable efforts to obtain the third-party consents set forth
in or contemplated by SECTIONS 3(A) AND 4(C) (unless otherwise indicated on
SECTION 4(C) OF THE DISCLOSURE SCHEDULE). Buyer will give any notices to the
third-parties and will use commercially reasonable efforts to obtain the
third-party consents set forth on ANNEX II or contemplated by SECTION 3(B). Each
of the Parties will give any notices to, make any filings with and use their
respective commercially reasonable efforts to obtain any authorizations,
consents and approvals of Governmental Entities in connection with the matters
referred to in SECTIONS 3(A)(II), 3(B)(III) and 4(C)(I) above. Without limiting
the generality of the foregoing, within ten (10) Business Days after the date
hereof, each of the Parties will file any Notification and Report Forms and
related material that he, she or it may be required to file with the Federal
Trade Commission and the Antitrust Division of the United States Department of
Justice under the Hart-Scott-Rodino Act, or any similar reports required to be
filed with any foreign jurisdiction, will use his, her or its commercially
reasonable efforts to obtain a waiver from the applicable waiting period and
will make any further filings pursuant thereto that may be necessary, proper or
advisable in connection therewith. Notwithstanding anything to the contrary
contained in this Agreement, neither Buyer nor any of its Affiliates shall be
required to hold separate (including by trust or otherwise) or divest any of
their respective businesses or assets or agree to any limitation on the
operation or conduct of their respective businesses with respect to obtaining
such authorization, consents, approvals and waivers referred to in this SECTION
5(B). Sellers shall submit to the New Jersey Department of Environmental
Protection ("NJDEP"): (a) within five (5) Business Days

                                       35
<Page>

of execution of this Agreement, an Initial Notice under ISRA (the "GIN"); and
(b) no later than ten (10) Business Days after the execution of this Agreement,
a request for Expedited Review with supporting documentation, which shall
include, but not be limited to (i) the previously submitted December 23, 2002
Preliminary Assessment, (ii) a Negative Declaration Affidavit, and (iii) the
NJDEP Entire Site Unrestricted Use No Further Action Letter and Covenant Not to
Sue dated January 6, 2003.

         (c) OPERATION OF BUSINESS. Between the date of this Agreement and the
Closing Date , the Company shall not, and Sellers will cause the Company and its
Subsidiaries not to, engage in any practice, take any action or enter into any
transaction outside the Ordinary Course of Business except for such actions and
transactions contemplated by this Agreement. Without limiting the generality of
the foregoing, except as otherwise consented to in writing by Buyer or as set
forth in SECTION 5(C) OF THE DISCLOSURE SCHEDULE or otherwise contemplated
hereby, the Company shall not, and the Sellers will cause the Company and its
Subsidiaries not to,

              (i) declare, set aside or pay any dividend or make any
       distribution with respect to its capital stock or redeem, purchase or
       otherwise acquire any of its capital stock,

              (ii) take any action out of the Ordinary Course of Business to
       generate Cash or increase Net Working Capital;

              (iii) change or modify its credit, collection or payment policies,
       procedures or practices, including acceleration of collections of
       receivables (whether or not past due) or failure to pay or delay payment
       of payables or other liabilities outside the Ordinary Course of Business;

              (iv) reduce the volume of production or purchases of inventory,
       other than as a result of then current reasonable business demands in the
       Ordinary Course of Business;

              (v) transfer, issue, sell or dispose of any shares of capital
       stock or other securities of the Company, or grant options, warrants,
       calls or other rights to purchase or otherwise acquire capital stock or
       other securities of the Company or amend any outstanding options,
       warrants, calls or other such rights;

              (vi) effect any recapitalization, reclassification, stock split or
       like change in the capitalization of the Company;

              (vii) incur, create, assume or guarantee any Indebtedness except
       as set forth on SECTION 5(C)(VII) OF THE DISCLOSURE SCHEDULE;

              (viii) cancel or compromise any debt or claim or waive or release
       any material right of the Company except in the Ordinary Course of
       Business;

              (ix) permit the Company to enter into or agree to enter into any
       merger or consolidation with, any Person, and not engage in any new
       business or invest in, make

                                       36
<Page>

       a loan, advance (other than advances to employees related to travel and
       expenses made in the Ordinary Course of Business) or capital contribution
       to, or otherwise acquire the securities of any other Person or to form
       any new Subsidiary;

              (x) make or revoke any election relating to Taxes, settle or
       compromise any claim, action, suit, litigation, proceeding, arbitration,
       investigation, audit or controversy relating to Taxes, or except as may
       be required by applicable Law or GAAP, make any change to any of its
       methods of accounting or methods of reporting income or deductions for
       Tax or accounting practice or policy from those employed in the
       preparation of its Tax Return most recently filed prior to the date of
       this Agreement;

              (xi) agree to make any capital expenditures except for such
       capital expenditures which are set forth on SECTION 5(C)(XI) OF THE
       DISCLOSURE SCHEDULE;

              (xii) amend or modify the Company's articles of incorporation or
       by-laws;

              (xiii) terminate the employment or services of any officer or key
       employee of the Company;

              (xiv) except as set forth on SECTION 5(C)(XIV) OF THE DISCLOSURE
       SCHEDULE, adopt, enter into or amend any Employee Benefit Plan, or enter
       into any employment, consulting or severance agreement, except to the
       extent required to comply with applicable Law or the terms of any
       contract in effect prior to the date hereof; or

              (xv) otherwise engage in any practice, take any action or enter
       into any transaction of the sort described in SECTION 4(H) above.

         (d) PRESERVATION OF BUSINESS. The Company shall, and Sellers shall
cause the Company, to use commercially reasonable efforts to keep its business
and properties substantially intact, including its present operations, physical
facilities, working conditions, insurance policies and relationships with
lessors, licensors, suppliers, customers, employees and others having a business
relationship with the Company. Without limiting the generality of the foregoing,
except as otherwise consented to in writing by Buyer, the Company shall, and
Sellers will cause the Company to: (i) (A) maintain the books, accounts and
records of the Company in the Ordinary Course of Business and in accordance with
GAAP, (B) continue to collect accounts or trade receivables and pay accounts
payable in the Ordinary Course of Business, and (C) comply with all contractual
and other obligations applicable to the operations of the Company in the
Ordinary Course of Business; and (ii) continue to make capital expenditures in
the Ordinary Course of Business consistent with the disclosure set forth on
SECTION 5(C)(XI) OF THE DISCLOSURE SCHEDULE.

         (e) ACCESS.

              (i) Between the date of this Agreement and the Closing Date, the
       Company shall permit, and Sellers will permit and will cause the Company
       to permit, upon prior notification and approval, representatives of Buyer
       (including legal counsel, accountants and other advisors) to have access
       at all reasonable times, during normal

                                       37
<Page>

       business hours, and in a manner so as not to interfere with the normal
       business operations of the Company, to all premises, properties,
       personnel, books, records (including Tax records), Contracts and
       documents of or pertaining to Company. Additionally, as reasonably
       requested by Buyer and subject to the approval of the Company's chief
       executive officer in each instance, the Company and Sellers will
       coordinate or will cause to be coordinated meetings (whether in person or
       by telephone) between representatives of customers of, or suppliers to,
       the Company and representatives of Buyer. All requests by Buyer for any
       access, for Confidential Information, meetings with Company personnel or
       the Company's customers or suppliers or inspection of the Company's
       properties shall be made to the Company's CEO. Buyer hereby confirms and
       agrees that it will observe the terms and conditions of the
       Confidentiality Agreement, and shall be deemed the signatory to the
       Confidentiality Agreement as if it had been an original signatory
       thereto. Between the date of this Agreement and Closing, the Company will
       provide Buyer with copies of unaudited balance sheets of the Company and
       the related unaudited statements of income and cash flows for each month
       end and quarter end after the date of the Most Recent Balance Sheet as
       promptly as practicable, but in any event within thirty (30) calendar
       days, after each such month end and quarter end, prepared in the Ordinary
       Course of Business in accordance with GAAP applied on a basis consistent
       with past practice.

              (ii) Notwithstanding anything to the contrary set forth herein or
       in any other agreement (including the Confidentiality Agreement) to which
       the Parties are parties or by which they are bound, the obligations of
       confidentiality contained herein and therein, as they relate to the
       transactions contemplated by this Agreement, shall not apply to the tax
       structure or tax treatment of such transactions, and each Party (and any
       employee, representative or agent of any Party) may disclose to any and
       all Persons, without limitation of any kind, the tax structure and tax
       treatment of such transactions; PROVIDED, HOWEVER, that such disclosure
       shall not include the name (or other identifying information not relevant
       to the tax structure or tax treatment) of any Person and shall not
       include information for which nondisclosure is reasonably necessary in
       order to comply with applicable securities laws.

         (f) NOTICE OF DEVELOPMENTS. The Company and Sellers will give prompt
written notice to Buyer of any breach of any of the representations and
warranties in SECTION 4 above. Each Party will give prompt written notice to the
others of any breach of any of his, her or its own representations and
warranties in SECTION 3 above. No disclosure by any Party pursuant to this
SECTION 5(F), however, shall be deemed to amend or supplement ANNEX I, ANNEX II
or the Disclosure Schedule or to prevent or cure any misrepresentation, breach
of warranty or breach of covenant.

         (g) EXCLUSIVITY. Neither the Company nor any Seller shall (and Sellers
will cause the Company not to) (i) solicit, initiate or encourage the submission
of any proposal or offer from any Person relating to the acquisition of any
capital stock or other voting securities, or any substantial portion of the
assets, of the Company (including any acquisition structured as a merger,
consolidation or share exchange), (ii) participate in any discussions or
negotiations regarding, furnish any information with respect to, assist or
participate in or facilitate in any other manner any effort or attempt by any
Person to do or seek any of the foregoing, or (iii) sell,

                                       38
<Page>

transfer, assign, hypothecate, mortgage or pledge and of the Company Shares or
sell, transfer or assign all or substantially all of the assets of the Company,
or agree to do any of the foregoing.

         (h) UPDATES TO ENVIRONMENTAL ASSESSMENTS. Within thirty (30) days after
the date hereof, the Company shall, and Sellers shall cause the Company to, use
its commercially reasonable efforts to obtain and have delivered to Buyer at
Buyer's expense updates of the Phase I Environmental Site Assessments previously
prepared for the Company in December 2002, copies of which have previously been
provided to Buyer.

         (i) REPAYMENT OF LOANS AND AFFILIATE TRANSACTIONS. On or prior to the
Closing Date, the Company and Sellers shall cause (i) all loans or other
advances made by the Company to any of Sellers or any Affiliate of the Company
or any of Sellers, including any accrued and unpaid interest thereon, to be
repaid in full in cash or by offset to the Company, and (ii) any and all
Contracts or other arrangements between the Company and any Affiliate of the
Company or any Affiliate of any Seller, other than those listed on SECTION 5(I)
OF THE DISCLOSURE SCHEDULE, to be terminated.

         (j) INDEBTEDNESS. No later than three (3) Business Days prior to the
Closing Date, the Company and Sellers shall use their commercially reasonable
efforts to deliver to Buyer (i) forms of pay-off letters (if customarily
available) in respect of all outstanding Indebtedness identified by Buyer
reasonably in advance of the Closing that is anticipated to be repaid with
financing supplied by the Buyer as part of the transactions contemplated by this
Agreement and (ii) the notice setting forth the Estimated Purchase Price.

         (k) TRANSACTION EXPENSES. No later than three (3) Business Days prior
to the Closing Date, the Company and Sellers shall use their commercially
reasonable efforts to deliver to Buyer pay-off letters in respect of the
Transaction Expenses which will remain unpaid as of the Closing from any and all
third-party service providers to whom payments are required to be made by the
Company in connection with the transactions contemplated by this Agreement and
which third-party service providers customarily provide pay-off letters. The
pay-off letters shall provide that the amounts set forth therein represent
payment in full for all fees and expenses payable by the Company in connection
with the transactions contemplated by this Agreement through the Closing Date.
At or prior to the Closing either the Company or Sellers shall pay and discharge
all Transaction Expenses or such Transaction Expenses shall be deducted from the
Purchase Price in accordance with SECTION 2(B).

         (l) ASSISTANCE WITH FINANCING. In order to assist with the financing of
the transactions contemplated hereby, the Company shall, to the extent requested
in writing by Buyer and at Buyer's expense, reasonably cooperate with Buyer and
use its commercially reasonable efforts to assist Buyer in obtaining the
financing contemplated under the Commitment Letters.

                                       39
<Page>

         (m) COMPANY STOCK OPTIONS. To the extent such Option Termination
Agreements (as defined below) were not entered into in connection with the
execution hereof, the Company shall, and Sellers will cause the Company to,
notify all holders of Company Stock Options as soon as practicable after the
date of this Agreement that this Agreement has been approved by the board of
directors of the Company and executed by the Company and will, consistent with
the Company Stock Options between the Company and the holders of such Company
Stock Options, cause each holder of the Company Stock Options, in connection
with and contingent upon Closing hereunder, to execute and deliver an agreement
in the form attached hereto as EXHIBIT E (each an "OPTION TERMINATION
AGREEMENT") pursuant to which such holder will agree not to exercise such
Company Stock Option and to surrender and agree to the cancellation of such
Company Stock Option in exchange for the right to receive the payment specified
in the Option Termination Agreement (the "OPTION CASH CONSIDERATION").

         (n) RESTRICTED STOCK AGREEMENT; CORPORATE GOVERNANCE AGREEMENT. At or
prior to the Closing, the Company shall, and the Sellers shall cause the Company
to, cause (i) the Restricted Stock Agreement (the "RESTRICTED STOCK AGREEMENT")
by and among the Company, John D. DePaul and Raymond A. Frick, Jr., dated as of
May 19, 1998, and (ii) the Agreement Regarding Corporate Governance (the
"CORPORATE GOVERNANCE AGREEMENT") by and among the Company, John D. DePaul and
Raymond A. Frick, Jr., dated as of May 19, 1998, to be terminated and be of no
further force and effect and the Company to be released from all Liability
thereunder.

         (o) LEHIGH PUERTO RICO; PUERTO RICO ASSET PURCHASE AGREEMENT. At or
prior to the Closing, the Company shall, and the Sellers shall cause the Company
to, cause Lehigh Puerto Rico to obtain releases, in form and substance
reasonably satisfactory to Buyer, pursuant to which Lehigh Puerto Rico and the
Company shall be fully and unconditionally released from all outstanding
Liabilities, including, but not limited to, all Liabilities created by or
arising from that certain Asset Purchase Agreement, dated as of May 15, 2000,
between Lehigh Puerto Rico and L.P.P.R., Inc. (the "PUERTO RICO ASSET PURCHASE
AGREEMENT").

         (p) SPLIT DOLLAR LIFE INSURANCE ASSIGNMENT. Prior to the Closing, John
D. DePaul shall cause the split dollar life insurance agreement, described more
fully on SECTION 5(P) OF THE DISCLOSURE SCHEDULE, to be terminated, and, in
connection therewith, pay to the Company in cash an amount equal to the excess
of the cash surrender value of such policy over any policy loans taken
thereunder, and, the Company shall transfer ownership of the policy to John D.
DePaul (subject to such policy loan) and release any collateral assignments and
other security, and the Company shall be fully and unconditionally released from
any Liabilities the Company may have had with respect to the split dollar life
insurance policies on the life of John D. DePaul with respect to which such
split dollar life insurance agreements relate, including, but not limited to,
with respect to the payment of premiums for such policy (collectively, the
"SPLIT DOLLAR LIFE INSURANCE ASSIGNMENT"). At or prior to Closing, John D.
DePaul shall provide evidence, in form and substance reasonably satisfactory to
Buyer, that the Split Dollar Life Insurance Assignment has been effected.

         (q) BUYER'S FINANCING. Buyer will use commercially reasonable efforts
to obtain the financing contemplated by the Commitment Letters.

                                       40
<Page>

         (r) RELEASE OF LIENS. At or prior to the Closing, the Company shall,
and the Sellers shall cause the Company to, use its commercially reasonable
efforts to cause the Liens identified by Buyer reasonably in advance of the
Closing (but not including the Liens set forth on SECTION 5(R) OF THE DISCLOSURE
SCHEDULE unless Buyer's Lenders require any of such Liens to be released at the
Closing) to be released and terminated; provided that to the extent any of such
Liens secure any Indebtedness which constitutes Closing Indebtedness (the
"SPECIFIED LIENS"), Sellers shall only be obligated to use commercially
reasonable efforts to have such Liens released and terminated to the extent that
Buyer at Closing provides the funds to repay such Indebtedness. The Company
shall, and the Sellers shall cause, the Company to use its commercially
reasonable efforts to file, or cause to be filed, Form UCC-3 termination
statements and obtain, or use its commercially reasonable efforts to cause to be
obtained, any other releases, consents, waivers, or similar documents necessary
to effect the release of such Liens as and to the extent contemplated in the
previous sentence.

         (s) PAYMENT OF ACCRUED BONUSES. On the day following the Closing, the
Buyer will cause the Company to pay the Specially Designated Employee an amount
equal to the Specially Designated Employee's pro-rata portion (through the date
of termination of employment) of the Company's accrued 2003 bonus (provided such
annualized bonus does not exceed $50,000) as of the Closing Date (the "Special
Bonus Payment"). The Special Bonus Payment shall not constitute a Transaction
Expense and shall not result in any reduction to the Purchase Price. Other than
the Special Bonus Payment that will be made pursuant to the previous sentence,
the Company is not required to pay any employee any portion of the Company's
accrued 2003 bonus at or prior to the Closing; however, Buyer agrees that it
shall cause the Company to pay such accrued 2003 bonuses (to the extent accrued
as of the Closing) to the Company's current employees following the end of the
2003 fiscal year in the Ordinary Course of Business but not later than 70 days
following the Closing Date. Buyer shall consult with Sellers' Representative
with respect to the allocation of such payments to such employees.

         (t) SERP PAYMENTS. On the Closing Date, the Company shall pay a lump
sum payment ("SERP PAYMENT") to William Love and to Raymond A. Frick, Jr., in
full satisfaction of the benefits accrued as of such date by William Love under
the Company's Supplemental Executive Retirement Plan and by Raymond A. Frick,
Jr. under the supplemental retirement benefit provisions of his employment
agreement.

         6. POST-CLOSING COVENANTS. The Parties agree as follows with respect to
the period following the Closing.

         (a) GENERAL. In case at any time after the Closing any further action
is necessary to carry out the purposes of this Agreement, each of the Parties
will take such further action (including the execution and delivery of such
further instruments and documents) as any other Party reasonably may request,
all at the sole cost and expense of the requesting Party (unless the requesting
Party is entitled to indemnification thereof under SECTION 8 below or to the
extent that such costs and expenses would constitute Transaction Expenses).

         (b) LITIGATION SUPPORT. In the event that and for so long as any Party
actively is contesting or defending against any Legal Proceeding in connection
with (i) any transaction contemplated under this Agreement or (ii) any fact,
situation, circumstance, status, condition,

                                       41
<Page>

activity, practice, plan, occurrence, event, incident, action, failure to act or
transaction on or prior to the Closing Date involving Company, each of the other
Parties (if and only to the extent that neither (A) such other Party or Parties
are not adverse to the contesting or defending party in such Legal Proceeding
nor (B) the contesting or defending Party is entitled to indemnification
therefor under SECTION 8 below), will cooperate with him, her or it and his, her
or its counsel in the contest or defense, make available their personnel and
provide such testimony and access to their books and records as shall be
necessary in connection with the contest or defense, all at the sole cost and
expense of the contesting or defending Party.

         (c) D & O INSURANCE. Buyer will cause the Company to purchase a three
(3) year extension of the Company's existing directors' and officers' insurance
policy; provided, that, the cost of such extension shall not exceed 150% of the
current annual premium of such policy; provided, however, in the event the cost
exceeds such amount, Buyer shall cause the Company to purchase as favorable a
policy as possible at such price, or, at the election of Sellers, Sellers may
pay such additional cost so that a three (3) year extension of the current
policy is purchased.

         (d) SEVERANCE PAY PLAN. Buyer will cause the Company for a period of
one (1) year following the Closing to maintain a severance pay plan
substantially in the form of SECTION 6(D) OF THE DISCLOSURE SCHEDULE.

         (e) TRANSITION. For a period of two (2) years following the Closing, no
Seller will, directly or indirectly, take any action that is designed or
intended to have the effect of discouraging any lessor, licensor, customer,
supplier, or other business associate of the Company from maintaining the same
business relationships with the Company after the Closing as it maintained with
the Company prior to the Closing.

         (f) CONFIDENTIALITY. Sellers will treat and hold as confidential all
Confidential Information, refrain from using any Confidential Information except
in connection with this Agreement and any other commercially reasonable
non-competition purpose (including preparation of Tax Returns) and, at the
request of Buyer, deliver promptly to Buyer or destroy all tangible embodiments
(and all copies) of Confidential Information in their possession, other than
with respect to Confidential Information being used solely for commercially
reasonable non-competition purposes (including the preparation of Tax Returns),
which may be retained for so long as such Confidential Information is being used
solely for such purposes. In the event that any Seller is requested or required
pursuant to oral or written question or request for information or documents in
any legal proceeding, interrogatory, subpoena, civil investigative demand, or
similar process to disclose any Confidential Information, such Seller will
notify Buyer promptly of the request or requirement so that Buyer may seek an
appropriate protective order or waive compliance with the provisions of this
SECTION 6(F). If, in the absence of a protective order or the receipt of a
waiver hereunder, any Seller is, on the advice of counsel, compelled to disclose
any Confidential Information to any tribunal or else stand liable for contempt,
such Seller may disclose the Confidential Information to the tribunal; PROVIDED,
HOWEVER, such Seller will use her, his or its commercially reasonable efforts to
obtain, at the reasonable request and expense of Buyer, an order or other
assurance that confidential treatment will be accorded to such portion of the
Confidential Information required to be disclosed as Buyer will designate.

                                       42
<Page>

         (g) COVENANT NOT TO COMPETE; NON-SOLICITATION.

              (i) For a period of five (5) years from and after the Closing Date
       (the "RESTRICTED PERIOD"), each Seller will not without the written
       consent of the Company and except on behalf of the Company, directly or
       indirectly, engage in, own (in whole or in part), manage, control,
       participate in, work for, permit his name to be used by, consult with,
       render services for, do business with or otherwise assist in any manner
       or maintain any interest (whether proprietary, financial or otherwise)
       in, or provide or arrange any financing for, any Person or entity
       (whether as director, officer, employee, agent, representative, security
       holder, equity owner, partner, member, consultant or otherwise) engaged
       in any way in any businesses currently conducted by the Company;
       provided, however, that ownership of less than three percent (3%) of the
       outstanding stock of any publicly-traded corporation will not be deemed
       engagement in any of its businesses; and, PROVIDED FURTHER, that nothing
       herein shall prohibit John D. DePaul from maintaining his ownership
       interest and other relationship with L.P.P.R., Inc., so long as L.P.P.R.,
       Inc. (or any of its subsidiaries or Affiliates) does not, directly or
       indirectly, compete with the Company. If the final judgment of a court of
       competent jurisdiction declares that any term or provision of this
       SECTION 6(G) is invalid or unenforceable, the Parties agree that the
       court making the determination of invalidity or unenforceability will
       have the power to reduce the scope, duration, or area of the term or
       provision, to delete specific words or phrases, or to replace any invalid
       or unenforceable term or provision with a term or provision that is valid
       and enforceable and that comes closest to expressing the intention of the
       invalid or unenforceable term or provision, and this Agreement will be
       enforceable as so modified after the expiration of the time within which
       the judgment may be appealed.

              (ii) Without limiting the generality of SECTION 6(G)(I) above,
       each Seller further agrees that during the Restricted Period, such Seller
       will not, directly or indirectly, cause, solicit, induce or in any manner
       encourage (A) any independent contractor, producer, customer, licensor,
       supplier, agent or business partner of the Company, to terminate or
       adversely change her, his or its relationship with the Company or (B) any
       present employee of the Company or an employee during the Restricted
       Period, to leave the employ of the Company or hire, employ or otherwise
       engage any such individual; provided that the restrictions set forth in
       this paragraph (ii) shall not apply to William Love.

              (iii) The covenants and undertakings contained in this SECTION
       6(G) relate to matters which are of a special, unique and extraordinary
       character and a violation of any of the terms of this SECTION 6(G) will
       cause irreparable injury to the parties, the amount of which will be
       impossible to estimate or determine and which cannot be adequately
       compensated. Therefore, Buyer will be entitled to an injunction,
       restraining order or other equitable relief from any court of competent
       jurisdiction in the event of any breach of this SECTION 6(G). The rights
       and remedies provided by this SECTION 6(G) are cumulative and in addition
       to any other rights and remedies which Buyer may have hereunder or at law
       or in equity. Buyer and Sellers acknowledge that the Purchase Price
       represents fair and adequate consideration for all the Company Shares and
       accordingly, no portion of the Purchase Price is allocable to the
       foregoing covenant.

                                       43
<Page>

         7. CONDITIONS TO OBLIGATION TO CLOSE.

         (a) CONDITIONS TO BUYER'S OBLIGATION. The obligation of Buyer to
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions:

              (i) the representations and warranties set forth in SECTION 4
       (other than the representations and warranties set forth in SECTIONS
       4(A), (B) and (C)) above shall be true and correct in all material
       respects at and as of the Closing Date, except to the extent that such
       representations and warranties are qualified by terms such as "material",
       "Material Adverse Effect," and "Material Adverse Change" in which case
       such representations and warranties shall be true and correct in all
       respects at and as of the Closing Date, and the representations and
       warranties set forth in SECTION 3(A) and SECTIONS 4(A), (B) and (C) above
       shall be true and correct in all respects at and as of the Closing Date;

              (ii) the Company and Sellers shall have performed and complied
       with all of their covenants hereunder in all material respects through
       the Closing, except (A) to the extent that such covenants are qualified
       by terms such as "material", "Material Adverse Effect," and "Material
       Adverse Change" and (B) with respect to the covenants contained in
       SECTIONS 5(I), (J), (K), (M), (N), (O), (P), (R) and (S) in which case
       Sellers shall have performed and complied with all of such covenants in
       all respects through the Closing;

              (iii) the Company shall have procured all of the third-party
       consents specified in SECTION 5(B) above, each of which shall be
       reasonably satisfactory to Buyer in form and substance;

              (iv) no action, suit or proceeding shall be pending before any
       Governmental Entity wherein an unfavorable injunction, judgment, order,
       decree, ruling or charge would (A) prevent consummation of any of the
       transactions contemplated by this Agreement, (B) cause any of the
       transactions contemplated by this Agreement to be rescinded following
       consummation, (C) affect adversely the right of Buyer to own Company
       Shares and to control Company or (D) affect materially and adversely the
       right of Company to own its assets and to operate its businesses (and no
       such injunction, judgment, order, decree, ruling or charge shall be in
       effect);

              (v) Sellers shall have delivered to Buyer a certificate to the
       effect that each of the conditions specified above in SECTIONS 7(A)(I)
       through (III) is satisfied in all respects;

              (vi) all applicable waiting periods (and any extensions thereof)
       under the Hart-Scott-Rodino Act shall have expired or otherwise been
       terminated;

              (vii) Buyer shall have received from the Company a Certificate of
       Secretary and incumbency certificate, including the following attachments
       (A) Articles of Incorporation, certified as of a recent date by the
       Secretary of State of the Commonwealth of Pennsylvania, (B) bylaws of the
       Company, and (C) resolutions of

                                       44
<Page>

       directors and shareholders, if necessary, approving this Agreement and
       the transaction contemplated hereby;

              (viii) Sellers shall have delivered to Buyer copies of the
       certificate of good standing of Company issued on or soon before the
       Closing Date by the Secretary of State (or comparable officer) of the
       Commonwealth of Pennsylvania;

              (ix) each Seller shall have provided Buyer with an affidavit of
       non-foreign status that complies with Section 1445 of the Code;

              (x) Buyer shall have received financing under and in accordance
       with the terms of the Commitment Letters;

              (xi) the Executive Agreement shall not have been terminated by
       John R. DePaul and shall be in full force and effect;

              (xii) the Closing EBITDA shall not be less than Fifteen Million
       Two Hundred Fifty Thousand Dollars ($15,250,000); and

              (xiii) Provided that Buyer shall have provided the funds to do so,
       Buyer shall have received evidence satisfactory to Buyer that all
       Indebtedness of the Company identified by Buyer reasonably in advance of
       the Closing shall have been repaid and extinguished or will be repaid and
       extinguished at the Closing;

              (xiv) Provided that Buyer shall have provided the funds to do so,
       Buyer shall have received evidence satisfactory to Buyer that all
       Specified Liens on the assets and properties of the Company identified by
       Buyer reasonably in advance of the Closing have been unconditionally
       released and terminated;

              (xv) the updates to the Phase I Environmental Site Assessments
       referred to in SECTION 5(H) hereof shall have been obtained; and

              (xvi) all actions to be taken by Sellers in connection with
       consummation of the transactions contemplated hereby and all
       certificates, opinions, instruments and other documents required to
       effect the transactions contemplated hereby will be reasonably
       satisfactory in form and substance to Buyer.

              Buyer may waive any condition specified in this SECTION 7(A) if it
       executes a writing so stating at or prior to the Closing.

         (b) CONDITIONS TO SELLERS' OBLIGATION. Sellers' obligation to
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

              (i) the representations and warranties set forth in SECTION 3(B)
       above shall be true and correct in all material respects at and as of the
       Closing Date, except to the extent that such representations and
       warranties are qualified by terms such as

                                       45
<Page>

       "material" and "Material Adverse Effect," in which case such
       representations and warranties shall be true and correct in all respects
       at and as of the Closing Date;

              (ii) Buyer shall have performed and complied with all of its
       covenants hereunder in all material respects through the Closing, except
       to the extent that such covenants are qualified by terms such as
       "material" and "Material Adverse Effect," in which case Buyer shall have
       performed and complied with all of such covenants in all respects through
       the Closing;

              (iii) no action, suit, or proceeding shall be pending before any
       court or quasi-judicial or administrative agency of any federal, state,
       local, or foreign jurisdiction or before any arbitrator wherein an
       unfavorable injunction, judgment, order, decree, ruling, or charge would
       (A) prevent consummation of any of the transactions contemplated by this
       Agreement or (B) cause any of the transactions contemplated by this
       Agreement to be rescinded following consummation (and no such injunction,
       judgment, order, decree, ruling, or charge shall be in effect);

              (iv) Buyer shall have delivered to Sellers a certificate to the
       effect that each of the conditions specified above in SECTIONS 7(B)(I)
       through (II) is satisfied in all respects;

              (v) all applicable waiting periods (and any extensions thereof)
       under the Hart-Scott-Rodino Act and other similar provisions required by
       any foreign jurisdiction shall have expired or otherwise been terminated.

              Sellers may waive any condition specified in this SECTION 7(B) if
       they execute a writing so stating at or prior to the Closing.

         8. REMEDIES FOR BREACHES OF THIS AGREEMENT.

         (a) SURVIVAL OF REPRESENTATIONS AND WARRANTIES. All of the
representations and warranties contained in SECTION 4 above (other than SECTIONS
4(B), (D), (F), (K) and (X) and subsection (i)(A) of SECTION 4(L) above) shall
survive the Closing hereunder and continue in full force and effect for a period
of eighteen (18) months thereafter. The representations and warranties contained
in subsection (i)(A) of SECTION 4(L) above shall survive the Closing and
continue in full force and effect for a period of five (5) years. All of the
other representations and warranties contained in this Agreement (including the
representations and warranties contained in SECTION 3 above and the
representations and warranties contained in SECTIONS 4(B), (D), (F), (K) and (X)
above) shall survive the Closing and continue in full force and effect until
thirty (30) days following the expiration of the applicable statutes of
limitations (including any extension thereto, whether automatic or permissive).

         (b) INDEMNIFICATION PROVISIONS FOR BUYER'S BENEFIT.

              (i) Each Seller shall, jointly and severally, indemnify, defend
       and hold harmless Buyer, the Company and their respective directors,
       officers, employees, stockholders, Affiliates, successors and assigns
       (collectively the "BUYER INDEMNIFIED PARTIES") from and against:

                                       46
<Page>

                     (A) any and all Damages resulting from, arising out of or
              caused by the failure of any representation or warranty contained
              herein or in the Closing Certificate referred to in SECTION
              7(A)(V) or the Disclosure Schedule (other than the representations
              and warranties contained in SECTION 3(A)), to be true and correct
              in all respects as of the date made; provided that Buyer makes a
              written claim for indemnification against the Sellers pursuant to
              SECTION 10(H) below within the applicable survival period, if any,
              set forth in SECTION 8(A); provided further, that (x) that all
              references to materiality, Material Adverse Effect and Material
              Adverse Change in the representations and warranties contained in
              SECTION 4 hereof shall be omitted and disregarded from this
              Agreement for the purpose of determining the amount of Damages
              hereunder; (y) Sellers shall not have any obligation to indemnify
              any Buyer Indemnified Party from and against any Damages resulting
              from or caused by the failure of any representation or warranty
              contained in SECTION 4 to be true and correct in all respects as
              of the date made (other than the representations and warranties
              contained in SECTIONS 4(B), (D), (F), (K) and (X) and subsection
              (i)(A) of SECTION 4(L) above) until the Buyer Indemnified Parties
              have suffered Damages by reason of such breach in excess of an
              amount equal to Five Hundred Thousand Dollars ($500,000) (the
              "BASKET AMOUNT") (after which, Sellers will only be obligated to
              indemnify the Buyer Indemnified Parties from and against all such
              Damages to the extent such Damages exceed, in the aggregate, the
              Basket Amount) and (z) the aggregate amount of all Damages for
              which Sellers shall be obligated to indemnify the Buyer
              Indemnified Parties with respect the failure of the
              representations and warranties of Sellers contained in Section 4
              to be true and correct in all respects as of the date made (other
              than the representations and warranties contained in SECTIONS
              4(B), (D), (F), (K) and (X) and subsection (i) (A) of SECTION 4(L)
              above) shall be limited to Ten Million Dollars ($10,000,000) and,
              with respect to the representations and warranties contained in
              SECTION 4(X), shall be limited to fifty percent (50%) of the
              Purchase Price and, further, with respect to the representations
              and warranties contained in SECTIONS 4(B), (D), (F) and (K) shall
              be limited to one hundred percent (100%) of the Purchase Price.

                     (B) any and all Damages resulting from, arising out of or
              caused by the breach of any covenant or other agreement contained
              in this Agreement (other than the covenants contained in SECTIONS
              2(A) and SECTION 6 above);

                     (C) any and all Transaction Expenses (except to the extent
              that such are deducted from the Purchase Price in accordance with
              SECTION 2(B) or have been paid prior to the Closing); and

                     (D) any and all Taxes of the Company and its Subsidiaries
              with respect to any Tax period ending on or prior to the Closing
              Date and the pre-Closing portion of any Tax period beginning
              before and ending after the Closing Date (determined as provided
              in Section 10(p)(viii)), and any and all Damages with respect
              thereof; provided, however, that in the case of Taxes which would
              have constituted Accrued Other Taxes had such Taxes been finally
              determined to

                                       47
<Page>

              be due and payable as of the day before the Closing Date, such
              indemnity shall not exceed the excess, if any, of (x) fifty
              percent (50%) of such Taxes over (y) the Accrued Other Taxes
              Adjustment, and any and all Damages with respect thereof.

              (ii) Each Seller shall severally (and not jointly and severally)
       indemnify, defend and hold harmless the Buyer Indemnified Parties from
       and against any and all Damages resulting from, arising out of or caused
       by (A) the breach of such Seller's individual covenants contained in
       SECTION 2(A) or SECTION 6 above or (B) the failure of such Seller's
       representations and warranties contained in SECTION 3(A) above to be true
       and correct in all respects as of the date made; provided that Buyer
       makes a written claim for indemnification against such Seller pursuant to
       SECTION 10(H) below within the applicable survival period, if any, set
       forth in SECTION 8(A).

              (iii) Any Damages payable hereunder shall be (A) reduced for
       Income Tax benefits actually recognized by the Buyer Indemnified Parties
       as a result of the event giving rise to payments hereunder for such
       Damages and increased for any Taxes actually incurred by the Buyer
       Indemnified Parties as a result of the receipt of payments hereunder for
       such Damages, and (B) calculated net of any insurance proceeds actually
       received by Buyer or the Company in respect thereof.

              (iv) Sellers shall have no recourse against the Company or its
       directors, officers, employees, Affiliates, agents, attorneys,
       representatives, assigns or successors for any indemnification claims
       asserted by the Buyer Indemnified Parties.

         (c) INDEMNIFICATION PROVISIONS FOR SELLERS' BENEFIT. In the event Buyer
breaches any of its representations, warranties and covenants contained herein
and provided that any Seller makes a written claim for indemnification against
Buyer pursuant to SECTION 10(H) below within the survival period (if there is an
applicable survival period pursuant to SECTION 8(A) above), then Buyer agrees to
indemnify, defend and hold harmless each Seller, its trustees, heirs and agents,
and any successors to Seller's interests and their trustees, heirs and agents
(the "SELLER INDEMNIFIED PARTIES") from and against the entirety of any Damages
suffered resulting from or caused by the breach.

         (d) MATTERS INVOLVING THIRD PARTIES.

              (i) If any third party shall notify any Party (the "INDEMNIFIED
       PARTY") with respect to any matter (a "THIRD-PARTY CLAIM") which may give
       rise to a claim for indemnification against any other Party (the
       "INDEMNIFYING PARTY") under this SECTION 8, then the Indemnified Party
       shall promptly notify each Indemnifying Party thereof in writing;
       provided, however, that no delay on the part of the Indemnified Party in
       notifying any Indemnifying Party shall relieve the Indemnifying Party
       from any obligation hereunder unless (and then solely to the extent) the
       Indemnifying Party thereby is actually and materially prejudiced.

              (ii) (A) Except as provided in clause (B) below, any Indemnifying
       Party will have the right to assume the defense of the Third-Party Claim
       with counsel of his or its choice reasonably satisfactory to the
       Indemnified Party at any time within

                                       48
<Page>

       thirty (30) days after the Indemnified Party has given notice of the
       Third-Party Claim; provided, however, that the Indemnifying Party must
       conduct the defense of the Third-Party Claim actively and diligently
       thereafter in order to preserve its rights in this regard.

                     (B) Buyer shall have the exclusive right to control the
              conduct of any Third Party Claim with respect to Taxes; PROVIDED,
              HOWEVER, that, in the case of a Third Party Claim with respect to
              Taxes that Sellers are liable or responsible for under SECTION 8
              or otherwise, (i) Buyer shall keep the Sellers' Representative
              reasonably informed and consult seriously and in good faith with
              the Sellers' Representative and its tax advisors with respect to
              any issue relating to such Third Party Claim; (ii) Buyer shall
              promptly provide the Sellers' Representative with copies of all
              correspondence, notices and other written materials received from
              any taxing authorities and shall on a current basis otherwise keep
              the Sellers' Representative and its tax advisors advised of
              significant developments in the Third Party Claim and of
              significant communications involving representatives of the taxing
              authorities with respect to the Third Party Claim; (iii) the
              Sellers' Representative may request that Buyer take a position in
              respect of such Third Party Claim, and Buyer shall do so provided
              that (A) there exists substantial authority for such position
              within the meaning of the accuracy-related penalty provisions of
              Section 6662 of the Code and (B) the adoption of such position
              would not adversely affect the Tax liability of Buyer or any of
              its Affiliates for any post-Closing period or portion thereof
              (unless the Sellers' Representative agrees on behalf of Sellers to
              indemnify and hold harmless Buyer and its Affiliates from and
              against such adverse effect); (iv) Buyer shall provide the
              Sellers' Representative with a copy of any written submission to
              be sent to a taxing authority prior to the submission thereof
              (with reasonable time for review by the Sellers' Representative
              and its tax advisors) and shall give serious and good faith
              consideration to any comments or suggested revisions that the
              Sellers' representative or its tax advisors may have with respect
              thereto; and (v) there shall be no settlement, resolution, or
              closing or other agreement with respect thereto without the
              consent of the Sellers' Representative, which consent will not be
              unreasonably withheld or delayed. Notwithstanding the foregoing,
              the withholding of consent will not be regarded as unreasonable if
              the Sellers' Representative receives, and provides Buyer a copy
              of, written advice from a tax advisor reasonably satisfactory to
              Buyer that there is a significant probability that, by pursuing
              the dispute further, Buyer could obtain a more favorable outcome
              (taking into account both pre-Closing and post-Closing Tax periods
              of the Company and its Affiliates) than that reflected in the
              proposed settlement, resolution, or closing or other agreement.

              (iii) So long as the Indemnifying Party has assumed and is
       conducting the defense of the Third-Party Claim in accordance with
       SECTION 8(D)(II) above, (A) the Indemnifying Party will not consent to
       the entry of any judgment or enter into any settlement with respect to
       the Third-Party Claim without the prior written consent of the
       Indemnified Party (not to be withheld unreasonably) unless the judgment
       or proposed settlement involves only the payment in full of money damages
       by one or more of the Indemnifying Parties and does not impose an
       injunction or other equitable relief upon the

                                       49
<Page>

       Indemnified Party and (B) the Indemnified Party will not consent to the
       entry of any judgment or enter into any settlement with respect to the
       Third-Party Claim without the prior written consent of the Indemnifying
       Party (not to be withheld unreasonably). The Parties hereto agree to
       cooperate fully with each other in connection with the defense,
       negotiation or settlement of any Third Party Claim.

              (iv) In the event none of the Indemnifying Parties assumes and
       conducts the defense of the Third-Party Claim in accordance with SECTION
       8(D)(II) above, however, (A) the Indemnified Party may defend against and
       consent to the entry of any judgment or enter into any settlement with
       respect to, the Third-Party Claim in any manner he or it reasonably may
       deem appropriate (and the Indemnified Party need not consult with, or
       obtain any consent from, any Indemnifying Party in connection therewith)
       and (B) the Indemnifying Parties will remain responsible for any Damages
       the Indemnified Party may suffer resulting from, arising out of, relating
       to, in the nature of or caused by the Third-Party Claim to the fullest
       extent provided in this SECTION 8.

         (e) DIRECT CLAIMS. With respect to any claim by an Indemnified Party
for Damages not involving a Third-Party Claim (a "DIRECT CLAIM") the Indemnified
Party and Indemnifying Party shall attempt in good faith to resolve any issues
in dispute with respect to such Direct Claim following the delivery of a notice
relating to a Direct Claim. In the event the parties are unable to resolve the
issues in dispute, the Indemnified Party will be free to pursue such remedies as
may be available to the Indemnified Party on the terms and subject to the
provisions of this SECTION 8.

         (f) EXCLUSIVE REMEDY. Buyer and Sellers acknowledge and agree that,
following the Closing, the foregoing indemnification provisions in this SECTION
8 shall be the exclusive remedy of the Buyer Indemnified Parties and Seller
Indemnified Parties with respect to the Company, this Agreement or the
transactions contemplated by this Agreement, except with respect to any claims
or causes of actions for fraud and/or intentional misrepresentation by a Party
and to any adjustment to the Purchase Price in accordance with SECTION 2 hereof.
Without limiting the generality of the foregoing, the Buyer Indemnified Parties
waive any statutory, equitable, or common law rights or remedies relating to any
Environmental Requirements or any Environmental Claim. Notwithstanding the
foregoing, no Party shall be precluded from bringing an action for specific
performance or other equitable remedy to require a Party to perform its
obligations under this Agreement.

         (g) ESCROW AGREEMENT. Any amount in respect of Damages to which any
Buyer Indemnified Party is entitled to receive under this SECTION 8 shall
initially be disbursed from the Indemnity Escrow Amount in accordance with the
terms of the Escrow Agreement until the entire Indemnity Escrow Amount has been
disbursed.

         (h) ADJUSTMENT TO PURCHASE PRICE. The Parties agree to treat all
payments made under SECTION 8 as adjustments to the Purchase Price for Tax
purposes, unless a contrary treatment is required by applicable Law.

                                       50
<Page>

         9. TERMINATION.

         (a) TERMINATION OF AGREEMENT. Certain of the Parties may terminate this
Agreement as provided below:

              (i) Buyer and the Sellers' Representative may terminate this
       Agreement by mutual written consent at any time prior to the Closing;

              (ii) Buyer may terminate this Agreement by giving written notice
       to Sellers' Representative at any time prior to the Closing (A) in the
       event either the Company or any Seller has breached any representation,
       warranty or covenant contained in this Agreement in any material respect,
       Buyer has notified Sellers' Representative of the breach and the breach
       is incapable of being cured or, if capable of being cured, has continued
       without cure for a period of twenty (20) days after the notice of breach
       or (B) if the Closing shall not have occurred on or before November 6,
       2003 by reason of the failure of any condition precedent under SECTION
       7(A) hereof (unless the failure results primarily from Buyer itself
       breaching any representation, warranty or covenant contained in this
       Agreement); and

              (iii) Sellers' Representative may terminate this Agreement by
       giving written notice to Buyer at any time prior to the Closing (A) in
       the event Buyer has breached any representation, warranty or covenant
       contained in this Agreement in any material respect, the Sellers'
       Representative has notified Buyer of the breach and the breach is
       incapable of being cured or, if capable of being cured, has continued
       without cure for a period of twenty (20) days after the notice of breach
       or (B) if the Closing shall not have occurred on or before November 6,
       2003, by reason of the failure of any condition precedent under SECTION
       7(B) hereof (unless the failure results primarily from any Seller
       breaching any representation, warranty or covenant contained in this
       Agreement).

         (b) EFFECT OF TERMINATION. If any Party terminates this Agreement
pursuant to Section 9(a) above, all rights and obligations of the Parties
hereunder shall terminate without any liability of any Party to any other Party
(except for any liability of any Party then in breach); provided, however, that
the confidentiality provisions contained in SECTION 5(E) above and SECTION 10
shall survive termination.

         10. MISCELLANEOUS.

         (a) NATURE OF SELLERS' OBLIGATIONS.

              (i) The covenants of each Seller in SECTION 2(A) above concerning
       the sale of his, her or its Company Shares to Buyer (but not with respect
       to the payment of any adjustment to the Purchase Price to the extent such
       adjustment exceeds the Purchase Price Escrow Amount), the representations
       and warranties of each Seller in SECTION 3(A) above concerning the
       transaction and the covenants of each Seller contained in SECTION 6 above
       are individual obligations. This means that the particular individual
       Seller making the representation, warranty or covenant shall be solely
       responsible to the extent provided

                                       51
<Page>

       in SECTION 8(B)(II) above for any Damages Buyer may suffer as a result of
       any breach thereof.

              (ii) The remainder of the representations, warranties and
       covenants in this Agreement are joint and several obligations. This means
       that each Seller shall be responsible to the extent provided in SECTION
       8(B)(I) above for the entirety of any Damages any of the Buyer
       Indemnified Parties may suffer as a result of any breach thereof.

         (b) PRESS RELEASES AND PUBLIC ANNOUNCEMENTS. No Party shall issue any
press release or make any public announcement relating to the subject matter of
this Agreement prior to the Closing without the prior written approval of Buyer
and Sellers' Representative; provided, however, that any Party may make any
public disclosure it believes in good faith is required by applicable Law or any
listing or trading agreement concerning its publicly traded securities (in which
case the disclosing Party will use its best efforts to advise the other Parties
of such belief and provide the other Parties with an opportunity to review and
comment upon prior to making the disclosure); provided, however, that Buyer
acknowledges and agrees that (i) (A) Buyer will issue a press release
announcing, and will subsequently file with the Securities and Exchange
Commission a current report on Form 8-K and a quarterly report on Form 10-Q that
will discuss the transactions contemplated herein, and (B) the transactions
contemplated herein may be disclosed in any offering or information memorandum
or other similar document and in any "roadshow" or syndication presentations or
other marketing materials prepared in connection with Buyer's financing of the
transactions contemplated herein; and (ii) Buyer shall afford Sellers'
Representative ample time to review and comment upon, and provide written
approval of such discussions and disclosures as contemplated by the first clause
of this SECTION 10(B) (other than Buyer's Form 8-K and Form 10-Q).

         (c) NO THIRD-PARTY BENEFICIARIES. Except as set forth in SECTION 8
hereof, this Agreement shall not confer any rights or remedies upon any Person
other than the Parties and their respective successors and permitted assigns.

         (d) ENTIRE AGREEMENT. This Agreement (including the documents referred
to herein) and the Confidentiality Agreement constitute the entire agreement
among the Parties and supersedes any prior understandings, agreements or
representations by or among the Parties, written or oral, to the extent they
relate in any way to the subject matter hereof.

         (e) SUCCESSION AND ASSIGNMENT. This Agreement shall be binding upon and
inure to the benefit of the Parties named herein and their respective successors
and permitted assigns. No Party may assign either this Agreement or any of his
or its rights, interests, or obligations hereunder without the prior written
approval of Buyer and the Sellers' Representative; provided, however, that Buyer
may (i) assign any or all of its rights and interests hereunder to one or more
Affiliates or to any Person providing Buyer with financing relating to the
transactions contemplated hereby, and (ii) designate one or more of its
Affiliates to perform its obligations hereunder (in any or all of which cases
Buyer nonetheless will remain responsible for the performance of all of its
obligations hereunder) and (iii) assign its rights, whether in whole or in part,
under SECTION 6(G) or SECTION (8) hereunder to any Person that is a successor

                                       52
<Page>

(whether through stock purchase, merger, transfer of assets or otherwise) to the
Company's Lehigh Direct division or Lehigh Lithographers division.

         (f) COUNTERPARTS. This Agreement may be executed in one or more
counterparts (including by means of facsimile), each of which shall be deemed an
original but all of which together will constitute one and the same instrument.

         (g) HEADINGS. The section headings contained in this Agreement are
inserted for convenience only and shall not affect in any way the meaning or
interpretation of this Agreement.

         (h) NOTICES. All notices, requests, demands, claims and other
communications hereunder will be in writing. Any notice, request, demand, claim
or other communication hereunder shall be deemed duly given (i) when delivered
personally to the recipient, (ii) one business day after being sent to the
recipient by reputable overnight courier service (charges prepaid), (iii) one
business day after being sent to the recipient by facsimile transmission or
electronic mail, or (iv) four business days after being mailed to the recipient
by certified or registered mail, return receipt requested and postage prepaid
and addressed to the intended recipient as set forth below:

<Table>
<S>                                                        <C>
         If to Sellers:                                    Copy to:
         Sellers' Representative                           Vedder, Price, Kaufman & Kammholz, P.C.
         c/o Raymond A. Frick, Jr.                         222 N. LaSalle Street
         247 East Chestnut Street, #1902                   Chicago, Illinois  60601
         Chicago, Illinois  60611                          Fax:  312-609-5005
                                                           Attn:    William J. Bettman, Esq.
                                                                    Thomas P. Desmond, Esq.

         If to Buyer:                                      Copy to:
         Von Hoffmann Corporation                          DLJ Merchant Banking Partners II, L.P.
         1000 Camera Avenue                                11 Madison Avenue
         St. Louis, Missouri 63126                         New York, New York 10010
         Fax: 314-966-0983                                 Fax: 212-325-5553
         Attn: Gary Wetzel                                 Attn:    David Burgstahler

                                                           Copy to:
                                                           Weil, Gotshal & Manges LLP
                                                           767 Fifth Avenue
                                                           New York, New York 10153-0119
                                                           Fax: 212-310-8007
                                                           Attn:    David M. Blittner, Esq.
                                                                    Michael S. Colvin, Esq.
</Table>

         Any Party may change the address to which notices, requests, demands,
claims and other communications hereunder are to be delivered by giving the
other Parties notice in the manner herein set forth.

                                       53
<Page>

         (i) GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL. This Agreement
shall be governed by and construed in accordance with the domestic laws of the
State of New York without giving effect to any choice or conflicts of law
provision or rule (whether of the State of New York or any other jurisdiction)
that would cause the application of the laws of any jurisdiction other than the
State of New York. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY THAT
MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES, AND, THEREFORE, EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT SUCH PARTY MAY HAVE
TO TRIAL BY JURY IN RESPECT TO ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER, OR IN CONNECTION WITH OR RELATING TO THIS AGREEMENT. EACH
PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT, OR ATTORNEY
OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF SUCH LEGAL PROCEEDING, SEEK TO ENFORCE THE
FOREGOING WAIVER, (II) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE
IMPLICATIONS OF THIS WAIVER, (III) EACH PARTY MAKES THIS WAIVER VOLUNTARILY, AND
(IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10(I).

         (j) AMENDMENTS AND WAIVERS. No amendment of any provision of this
Agreement shall be valid unless the same shall be in writing and signed by Buyer
and Sellers. No waiver by any Party of any provision of this Agreement or any
default, misrepresentation or breach of warranty or covenant hereunder, whether
intentional or not, shall be valid unless the same shall be in writing and
signed by the Party making such waiver nor shall such waiver be deemed to extend
to any prior or subsequent default, misrepresentation or breach of warranty or
covenant hereunder or affect in any way any rights arising by virtue of any
prior or subsequent such occurrence.

         (k) SEVERABILITY. Any term or provision of this Agreement that is
invalid or unenforceable in any situation in any jurisdiction shall not affect
the validity or enforceability of the remaining terms and provisions hereof or
the validity or enforceability of the offending term or provision in any other
situation or in any other jurisdiction.

         (l) EXPENSES. Each of Buyer and the Sellers will bear his, her or its
own costs and expenses (including investment banking and legal fees and
expenses) incurred in connection with this Agreement and the transactions
contemplated hereby (it being understood that any costs and expenses of Sellers
which are not paid by the Company prior to the Closing but remain as obligations
of the Company will be deducted from the Purchase Price as Transaction Expenses
as provided in SECTION 2 above). Buyer and the Company shall each pay one-half
of the filing fees in connection with the notification filing under the
Hart-Scott-Rodino Act. Buyer agrees to use its commercially reasonable efforts
to assist Sellers in minimizing any costs, fees, penalties, premiums, payments
or expenses referred to in clause (v) in the definition of "Transaction
Expenses" in SECTION 1 hereof. Buyer or its affiliates (or the Company following
the Closing) shall pay all costs, fees and expenses incurred in connection with
Buyer's financing and the Commitment Letters and Sellers shall not be liable for
any such costs, fees or expenses and such amounts shall not be treated as
Transaction Expenses or as a deduction to the Purchase Price.

                                       54
<Page>

         (m) CONSTRUCTION. The Parties have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the Parties and no presumption or burden of proof shall
arise favoring or disfavoring any Party by virtue of the authorship of any of
the provisions of this Agreement. Any reference to any federal, state, local or
foreign statute or law shall be deemed also to refer to all rules and
regulations promulgated thereunder, unless the context requires otherwise. The
word "including" shall mean including without limitation.

         (n) INCORPORATION OF EXHIBITS, ANNEXES AND SCHEDULES. The Exhibits,
Annexes and Schedules identified in this Agreement are incorporated herein by
reference and made a part hereof.

         (o) GOVERNING LANGUAGE. This Agreement has been negotiated and executed
by the Parties in English. In the event any translation of this Agreement is
prepared for convenience or any other purpose, the provisions of the English
version shall prevail.

         (p) COOPERATION ON TAX MATTERS.

              (i) Sellers shall timely prepare or cause to be prepared and
       timely file or cause to be filed all Tax Returns for the Company and any
       Subsidiary which are required to be filed on or prior to the Closing
       Date, and shall timely pay or cause to be paid all Taxes shown due
       thereon. All such Tax Returns shall be prepared in a manner consistent
       with prior practice (unless otherwise inconsistent with applicable Law).
       With respect to Tax Returns required to be filed during the period
       between the execution of this Agreement and the Closing, the Sellers'
       Representative shall cause the Company and its Subsidiaries to provide
       Buyer with copies of such completed Tax Returns at least twenty (20) days
       prior to the due date for filing thereof, along with supporting
       workpapers, for Buyer's review and approval (unless such twenty (20) day
       period is not feasible given the date of execution of this Agreement and
       the due date of the Tax Return, in which case, Sellers' Representative
       shall provide copies of such Tax Returns to Buyer as soon as practicable
       after execution of this Agreement), which approval shall not be
       unreasonably withheld (it being understood that so long as such Tax
       Returns are prepared on a basis consistent with past practice and
       substantial authority exists for the taking of a position on such Tax
       Returns, any withholding of Buyer's approval with respect to such Tax
       Returns shall be considered unreasonable). Sellers and Buyer shall
       attempt in good faith to resolve any disagreements regarding such Tax
       Returns prior to the due date for filing. In the event that Sellers and
       Buyer are unable to resolve any dispute with respect to such Tax Returns
       at least ten (10) days prior to the due date for filing (or such shorter
       period as contemplated above), such dispute shall be resolved pursuant to
       SECTION 10(P)(VII), which resolution shall be binding on the Parties.

              (ii) Sellers shall timely prepare or cause to be prepared and
       Buyer shall cooperate in good faith in timely filing or causing to be
       filed all Income Tax Returns for the Company and any Subsidiary which
       relate to Tax periods ending on or prior to the Closing Date and which
       are filed after the Closing Date, and, to the extent Sellers are
       obligated to indemnify for such Taxes under SECTION 8; Sellers shall
       timely pay or cause to be paid all Taxes shown due thereon. All such Tax
       Returns shall be prepared in a

                                       55
<Page>

       manner consistent with prior practice (unless otherwise inconsistent with
       applicable Law). Buyer will be provided with copies of such completed Tax
       Returns at least twenty (20) days prior to the due date for filing
       thereof, along with supporting workpapers for Buyer's review and
       approval, which approval shall not be unreasonably withheld (it being
       understood that so long as such Tax Return is prepared on a basis
       consistent with past practice and substantial authority exists for the
       taking of a position on such Tax Return, any withholding of Buyer's
       approval with respect to such Tax Return shall be considered
       unreasonable). Sellers and Buyer shall attempt in good faith to resolve
       any disagreements regarding such Tax Returns prior to the due date for
       filing. In the event that Sellers and Buyer are unable to resolve any
       dispute with respect to such Tax Returns at least ten (10) days prior to
       the due date for filing, such dispute shall be resolved pursuant to
       SECTION 10(P)(VII), which resolution shall be binding on the Parties.

              (iii) (A) Except as provided above, following the Closing, Buyer
       shall timely prepare or cause to be prepared and timely file or caused to
       be filed all Tax Returns for the Company and any Subsidiary which are
       required to be filed after the Closing Date. With respect to any such
       Income Tax Return for a Straddle Period (as defined below), Buyer shall
       prepare such Income Tax Return in a manner consistent with prior practice
       (unless otherwise required by applicable Law) and permit Sellers to
       review and comment on each such Income Tax Return prior to filing.
       Sellers and Buyer shall attempt in good faith to resolve any
       disagreements regarding such Income Tax Returns prior to the due date for
       filing. In the event Sellers and Buyer are unable to resolve any dispute
       with respect to such Income Tax Returns at least ten (10) days prior to
       the due date for filing, such dispute shall be resolved pursuant to
       SECTION 10(P)(VII), which resolution shall be binding on the Parties.

                     (B) In the event Buyer has the responsibility to cause to
              be filed any Tax Return pursuant to SECTION 10(P)(II) or this
              SECTION 10(P)(III) and to the extent, but only to the extent,
              Sellers are obligated to indemnify under SECTION 8 for any Taxes
              reflected on such Tax Return, Sellers' Representative, on behalf
              of the Sellers, shall no later than five (5) days prior to the due
              date for the payment of Taxes shown due on such Tax Return pay to
              Buyer the amount of any such Taxes for which Sellers are obligated
              to indemnify under Section 8, with respect to any Tax period
              ending on or prior to the Closing Date and the pre-Closing portion
              of any Tax period beginning before and ending after the Closing
              Date. No payment pursuant to this clause (B) shall excuse Sellers
              from their indemnification obligations pursuant to SECTION 8 if
              the amount of Taxes as ultimately determined (on audit or
              otherwise) for the periods covered by such Tax Returns exceeds the
              amount of Sellers' payment under this clause (B).

              (iv) Nothing contained in SECTION 10(P)(I), (II) or (III) shall
       excuse the Sellers from their indemnification obligations pursuant to
       SECTION 8 with respect to Taxes. Sellers shall be liable for and shall
       pay (and shall indemnify and hold harmless Buyer Indemnified Parties
       against) any and all sales, use, stamp, documentary, filing, recording,
       transfer or similar fees or Taxes or governmental charges as levied by
       any Governmental Entity (including any interest and penalties) in
       connection with the

                                       56
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       transactions contemplated by this Agreement (other than with respect to,
       or in connection with, any financing arrangement entered into by Buyer).

              (v) Any Income Tax refunds that are received by Buyer or the
       Company or any Subsidiary that relate to Income Tax periods or portions
       thereof ending on or before the Closing Date shall be for the account of
       Sellers, and Buyer shall pay, or cause to be paid, to the Sellers'
       Representative for the benefit of Sellers, as an additional amount of the
       Purchase Price, any such refund net of any Taxes, costs or expenses
       actually payable by Buyer or the Company with respect thereto within ten
       (10) days after receipt thereof; provided, however, that Buyer shall be
       entitled to retain any such refund to the extent such refund arises by
       reason of the carryback of any losses, credits or other Tax attributes
       generated in any Income Tax periods or portions thereof beginning after
       the Closing Date.

              (vi) Buyer, the Company and Sellers shall cooperate fully, as and
       to the extent reasonably requested by the other Party, in connection with
       the filing of Tax Returns pursuant to this SECTION 10(P) and any audit,
       litigation or other proceeding with respect to Taxes for such pre-Closing
       tax periods. Such cooperation shall include the retention and (upon the
       other Party's request) the provision of records and information which are
       reasonably relevant to any such audit, litigation or other proceeding and
       making employees available on a mutually convenient basis to provide
       additional information and explanation of any material provided
       hereunder. Company and Sellers agree (A) to retain all books and records
       with respect to Tax matters pertinent to the Company and its Subsidiaries
       relating to any taxable period beginning before the Closing Date until
       the expiration of the statute of limitations (and, to the extent notified
       by Buyer or Sellers, any extensions thereof) of the respective taxable
       periods and to abide by all record retention agreements entered into with
       any taxing authority and (B) to give the other Party reasonable written
       notice prior to transferring, destroying or discarding any such books and
       records and, if the other Party so requests, Company or Sellers, as the
       case may be, shall allow the other Party to take possession of such books
       and records.

              (vii) Any dispute as to any matter covered in this SECTION 10(P)
       shall be resolved by an independent accounting firm mutually acceptable
       to the Sellers' Representative and Buyer. The fees and expenses of such
       accounting firm shall be borne equally by Sellers, on the one hand, and
       Buyer on the other. If any dispute with respect to a Tax Return is not
       resolved prior to the due date of such Tax Return, such Tax Return shall
       be filed in the manner which the party responsible for preparing such Tax
       Return deems correct.

              (viii) In the case of any Tax period that includes (but does not
       end on) the Closing Date (a "STRADDLE PERIOD"), Sellers and Buyer shall,
       unless prohibited by applicable Law, close the Tax period of the Company
       and its Subsidiaries as of the close of business on the Closing Date. If
       applicable Law does not permit the Company or any of its Subsidiaries to
       close its Tax year on the Closing Date or in any case in which a Tax is
       assessed with respect to a Tax period which includes the Closing Date
       (but does not begin or end on that day), the Taxes, if any, attributable
       to such period shall be allocated (except as provided in the proviso to
       Section 8(b)(i)(D)) (A) to Sellers for the portion of

                                       57
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       such period up to and including the close of business on the Closing
       Date, and (B) to Buyer for the portion of such period subsequent to the
       Closing Date. Any allocation of income or deductions required to
       determine any Taxes attributable to any such period shall be made by
       means of a closing of the books and records of the Company and its
       Subsidiaries as of the close of business on the Closing Date, provided
       that exemptions, allowances or deductions that are calculated on an
       annual basis (other than depreciation and amortization deductions) shall
       be allocated between the portion of such period ending on the Closing
       Date and the portion of such period after the Closing in proportion to
       the number of days in each such portion of such period.

              (ix) It is agreed that any Income Tax deductions, credits or other
       Tax benefits arising from the payment or accrual of Transaction Expenses
       and the Option Cash Consideration shall, to the extent permitted under
       applicable Law, be reflected on the Company's Income Tax Return for the
       Tax period ending on the Closing Date. For purposes of clarity, SECTION
       10(P)(IX) OF THE DISCLOSURE Schedule sets forth a list of such
       Transaction Expenses and Option Cash Consideration to which this SECTION
       10(P)(IX) relates.

              (x) Following the Closing Buyer will not permit the Company to
       dispose or sell the Company's Lehigh Direct division until at least one
       business day following the Closing Date. In the event such a disposition
       is consummated, the Parties hereto agree that any Tax consequences
       arising from such disposition shall be properly allocated to any Tax
       period beginning after the Closing Date (as contemplated in Treasury
       Regulation Section 1.1502-76(b)(1)(ii)(B) or otherwise) or the
       Post-Closing portion of any Tax period beginning before and ending after
       the Closing Date.

         (q) APPOINTMENT OF SELLERS' REPRESENTATIVE. Each Seller hereby appoints
Raymond A. Frick, Jr. or, in the event Raymond A. Frick, Jr. dies, becomes
disabled or is no longer able or willing to serve in such capacity, then John D.
DePaul (the "SELLERS' REPRESENTATIVE") to act as his, her or its agent for the
purposes of: (i) delivering to Buyer his, her or its respective Company Shares;
(ii) accepting from Buyer the payment of the immediately available funds portion
of the Purchase Price and distributing to each Seller his respective portion of
such funds; (iii) receiving any notice required or desired to be given to
Sellers by Buyer pursuant to this Agreement; (iv) changing the time, date or
place of the Closing; (v) granting any consent or waiver required or desired of
Sellers by Buyer pursuant to this Agreement; (vi) amending this Agreement; (vii)
terminating or agreeing to terminate this Agreement; (viii) authorizing the
distribution to Buyer of all or any portion of the Escrow Fund; (ix) agreeing
to, negotiating, entering into settlements and compromises of, and agreeing to
the payment to Buyer of any amounts in respect of Damages for which Buyer is
entitled to be indemnified pursuant to SECTION 8 hereof; (x) agreeing,
negotiating, entering into settlements and compromises with respect to the
calculation of the Estimated Purchase Price at Closing and to any post-Closing
adjustment to the Purchase Price, all in accordance with SECTION 2 hereof; and
(xi) executing all documents and delivering all documents contemplated by this
Agreement. Each Seller shall execute and have notarized a Power of Attorney to
the Sellers' Representative, which Power shall be irrevocable and coupled with
an interest for his appointment. A decision, act, consent or instruction of the
Sellers' Representative authorized hereunder shall constitute a decision for all
Sellers and shall be final, binding and conclusive upon each Seller, and Buyer

                                       58
<Page>

may rely upon any such decision, act, consent or instruction of the Sellers'
Representative as being the decision, act, consent or instruction of every such
Seller. Buyer is hereby relieved from any liability to any person for any acts
undertaken by Buyer in accordance with such decision, act, consent or
instruction from the Sellers' Representative.

                                       59
<Page>

         IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as
of the date first above written.

                                     VON HOFFMANN CORPORATION

                                     By: /s/ Gary Wetzel
                                         -------------------------------------
                                         Title: Senior Vice President and Chief
                                         Financial Officer

                                     THE LEHIGH PRESS, INC.

                                     By: /s/ Raymond A. Frick
                                         ---------------------------------------
                                         Title:

                                     /s/ John D. Depaul
                                     -------------------------------------------
                                     John D. DePaul

                                     /s/ Barbara Depaul
                                     -------------------------------------------
                                     Barbara A. DePaul, as trustee, under the
                                     Irrevocable Agreement of Trust between
                                     John D. DePaul (Settlor) and Barbara A.
                                     DePaul (Trustee) dated December 22, 1998

                                     /s/ John D. Depaul
                                     -------------------------------------------
                                     John D. DePaul

                                     /s/ Raymond A. Frick
                                     -------------------------------------------
                                     Raymond A. Frick, Jr.

<Page>

                                    EXHIBIT A

                    ESTIMATE OF THE ESTIMATED PURCHASE PRICE

                                 (SEE ATTACHED)

<Page>

                                    EXHIBIT B

                                ESCROW AGREEMENT

                                 (SEE ATTACHED)

<Page>

                                    EXHIBIT C

                               COMMITMENT LETTERS

                                 (SEE ATTACHED)

<Page>

                                    EXHIBIT D

                              FINANCIAL STATEMENTS

                                 (SEE ATTACHED)

<Page>

                                    EXHIBIT E

                          OPTION TERMINATION AGREEMENT

                                 (SEE ATTACHED)

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