American Color Graphics, Inc. Receives Requisite Consent for Consent Solicitation.

NASHVILLE, Tenn. -- American Color Graphics, Inc. (the "Company") announced today that it had received, pursuant to its previously commenced consent solicitation, the requisite consents to extend the maturity date of its Non-Interest Bearing Senior Second Secured Notes due 2008 (the "2008 Notes") and an interest payment forbearance related to its 10% Senior Second Secured Notes due 2010 (the "2010 Notes").

The consent solicitation expired at 5:00 p.m., New York City time, on June 12, 2008. The Company announced that holders of $14,979,300 in aggregate principal amount of its 2008 Notes (approximately 98.5% of outstanding 2008 Notes) have agreed with the Company to extend the maturity date of the 2008 Notes from June 15, 2008 to September 15, 2008.

In addition, holders of $247,333,000 in aggregate principal amount of its 2010 Notes (approximately 88.3% of outstanding 2010 Notes) have agreed with the Company to be precluded through September 15, 2008 from exercising, or instructing the trustee to exercise on their behalf, certain rights and remedies under Section 6.02 (Acceleration) of the Indenture that may exist in respect of an Event of Default (as defined in the Indenture) that may occur under Section 6.01(b) of the Indenture due to the Company's failure to make the interest payment on the 2010 Notes that becomes due and payable on June 15, 2008 and the continuance of such default for a period of 30 days. The consent solicitation required that at least 75.1% in aggregate principal amount of the outstanding 2010 Notes consent in order to be adopted. Accordingly, all holders of 2010 Notes are precluded from instituting any proceeding, judicial or otherwise, with respect to the Indenture or the 2010 Notes, or for the appointment of a receiver or trustee, or for any other remedy thereunder, because the Indenture requires that holders of at least 25% in aggregate principal amount of the outstanding 2010 Notes must request or direct the Trustee to pursue any remedy available to the Trustee or the holders with respect to the Indenture or the 2010 Notes or otherwise under the law.

This announcement is not an offer to purchase, a solicitation of an offer to purchase or a solicitation of tenders or consents with respect to, any notes. The consent solicitation was made solely pursuant to the Consent Solicitation Statement dated June 4, 2008 and the accompanying Letter of Consent.

The Company retained Lehman Brothers to serve as Solicitation Agent, Ipreo to serve as Information Agent and The Bank of New York Trust Company, N.A. to serve as Tabulation Agent for the solicitation of consents.

About American Color Graphics

ACG is one of North America's largest and most experienced full service premedia and print companies, with eight print locations across the continent, a TMC facility, six regional premedia centers, photography studios nationwide and a growing roster of customer managed service sites. Expert in a full range of products such as retail, newspapers, direct mail, catalog, publication, packaging, book, comic, and commercial products, ACG has been an innovative industry leader for over 80 years. The company provides solutions and services such as asset management, photography, and digital workflow solutions that improve the effectiveness of advertising and drive revenues for their customers. For more information, visit www.americancolor.com.

This press release may contain forward-looking statements. The words "believes," "anticipates," "expects," "estimates," "plans," "intends," and similar expressions are intended to identify forward-looking statements. All forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from projected results. Factors that may cause these differences include fluctuations in the cost of raw materials we use, changes in the advertising, marketing and information services markets, the financial condition of our customers, actions by our competitors, changes in the legal or regulatory environment, general economic and business conditions in the U.S. and other countries, and changes in interest and foreign currency exchange rates. Consequently, you should consider any such forward-looking statements only as our current plans, estimates, and beliefs. Even if those plans, estimates, or beliefs change because of future events or circumstances, we decline any obligation to publicly update or revise any such forward-looking statements.