Creo Customers Strongly Support Current Board and Management.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Creo Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CREO) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CRE CRE Commercial Real Estate CRE Corporate Real Estate CRE Commission for Racial Equality (Scotland) CRE CCD (Charge Coupled Device) and Readout Electronics CRE Camp Response Element ) announced today that Creo customers from around the world are expressing concern about the contradictory and ill-conceived ill-con·ceived adj. Poorly conceived or planned: an ill-conceived scheme to take over the company. Adj. 1. "strategy" proposed for Creo by a small group of dissident shareholders dissident shareholders Shareholders who oppose a firm's management or management policy. For example, dissident shareholders of Hewlett-Packard opposed that firm's offer to purchase Compaq Computer. seeking control of the company. Many customers have responded by actively expressing their support for the Creo board and management. In their letters of support, customers have repeatedly stressed the value they place on Creo's proven track record of developing and delivering innovative products and services that are reshaping the graphic arts graphic arts: see aquatint; drawing; drypoint; engraving; etching; illustration; linoleum block printing; lithography; mezzotint; niello; pastel; poster; silk-screen printing; silhouette; silverpoint; sketch; stencil; woodcut and wood engraving. industry. Other customers have stated their reluctance to remain loyal to Creo and its products if there is a risk of reduced innovation and service, which is likely to occur if the dissidents' cost-cutting proposals are implemented. Customers have also emphasized the importance of Creo's past and future investments in customer service to maintaining customer loyalty: "As a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. customer of Creo, with one of the largest single site installations of Creo thermal plate and proof imaging devices, I cannot see how the current efforts by some shareholders will be of any benefit to Creo customers and shareholders. Rather than unlocking value, this effort threatens to destroy the basic value of the company itself. Creo is a unique company with much of its value stemming from its progressive culture of excellence and innovation. The staff is the best that has ever served the graphics industry. Their products push the envelope of innovation and enable us to keep print competitive as a communication tool. The Creo management team has shown the drive and determination to repeatedly bring to market 'best-in-class' products that offer incredible value to me as a customer, from beautifully engineered and extremely reliable hardware, to workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. software that ties it all together. The dissident shareholders offer nothing to me as a customer. I have no confidence that they can run the company better, or deliver products that I will purchase in the future. I strongly urge shareholders to reject the proposed changes to the board and management team." -- Jim Sewell Sew·ell , Anna 1820-1878. British writer of the children's classic Black Beauty (1877). , VP of Technology, L.P. Thebault Company "I am positive that Creo's current direction is what will ultimately lead it to become the preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae prepress In typography and printing, the preparation of camera-ready materials up to the actual printing stage, which includes typesetting, page makeup and plate processing. By the turn of the century, the creation of digital content by authors and designers, digital printers, computer-to-plate vendor in the printing industry. With the current products available and with the current projects in development, I have no doubt that Creo will be the vendor of choice for everyone who remains in business. My position on (the) company's management is absolute. No team could possibly replace Amos and his current group. The company's very culture is dependent upon this team and its leadership. As one of the major customers of Creo, I have no doubt that Creo would never be the same without them and I possibly would be looking elsewhere for a vendor partner. I will be forever in debt to Creo and its management for coming to our industry's rescue in such trying times with its management's special vision of the future." -- David Motheral, President, Motheral Printing "I believe that the current board of directors and management team are working in the best interest of Creo and have a farsighted far·sight·ed or far-sight·ed adj. 1. Able to see distant objects better than objects at close range; hyperopic. 2. Capable of seeing to a great distance. strategy for moving the industry - and in particular Creo customers - towards print-reproduction systems and practices that are more efficient and less prone to error, providing better quality and consistency at lower costs with less waste." -- Chris Yates, VP, New & Legacy Systems Manager, White Rose Printing Company "We are a commercial printing company that has invested heavily in Creo products and services over the years. Innovation and vision are the reason why we continue to expand our investment with Creo as a partner. We fully support the current board and management team at Creo, as they share our goals in research, technology and productivity. A change in those goals by Creo leadership may result in a change in our equipment investments." -- Benson Young, Chief Technology Officer, Knight-Abbey Commercial Printing & Direct Mail "Creo is a phenomenal company. Not only do they offer cutting-edge technology, but also the knowledge and support to go with it. That's what puts them well above the rest. They treat every customer on a personal basis, answering their needs. That is what makes Creo special. They revolutionized the prepress industry and continue to maintain their position on the forefront of technology. What's more important is that I TRUST Creo. I know that when I purchase a product from Creo, it will work. Better than that; if the product doesn't quite fit the bill for my shop, Creo makes it work. I have never been affiliated with a company that gives you access to their development team, much less cares enough to even listen to my ideas and needs. I am in complete support of Creo remaining exactly the way they are today. There's no reason to mess with mess with Verb Informal, chiefly US to interfere in, or become involved with, a dangerous person, thing, or situation: he had started messing with drugs success." -- Kathy Hooper hoop·er n. A maker or repairer of barrels and tubs; a cooper. , Prepress Manager, (company name withheld) "It wasn't just that your software worked and had made my life so much easier; it was also the way you do business that I had grown to enjoy. My (former) company was a small $8 million a year commercial printer but Creo treated me as though I was their only customer. My new company is planning a workflow upgrade in 2006 and we are currently in the process of laying the groundwork. I am part of a team that will make the recommendation. Creo has a voice at the table as long as I sit there." -- Allen Al·len , Edgar 1892-1943. American anatomist who is noted for his studies of hormones and for the discovery (1923) of estrogen. Filson, Digital Services Specialist, The Sheridan Press "Working with Creo over the past nine years has been a wonderful experience, and this in a large way is related to (Amos Michelson's) leadership and vision for Creo and the industry. To this day, any organization that I deal with is measured against the service level and proactive nature of the Creo Service and Response Center, Field Engineers, and Account Managers. Creo has a unique balance of creating for the future while ensuring that what's developed is consistent with industry trends of the end user and Consumer Product Companies. Many companies do not either place the same value on this that Creo does or have the people, leadership or infrastructure to support a higher level of thinking and true interest in providing solutions that are targeted at clients' needs." -- Dave Miller The name Dave Miller could refer to:
"Our company chose Creo to be our strategic partner in providing our clients with the best equipment and workflow solutions in the industry. We have never regretted making that decision. Creo is the first company that I have worked with that actually listens to its clients and their needs and responds to them very quickly. It is very refreshing to actually participate in the development and improvement of the products and solutions that we use on a day to day basis. Creo is by far the best and most responsive company I have ever had the pleasure to deal with. I am willing to do whatever I can to keep Creo being Creo." -- Ron Barnett, EPP (1) (Enhanced Parallel Port) See IEEE 1284. (2) (Ethernet Packet Processor) A chip from Kalpana, Inc., Santa Clara, CA that doubles speed of Ethernet transmission to 20Mbits/sec. In 1994, Kalpana was acquired by Cisco. Manager and VP of Technology, Hatcher hatch 1 n. 1. a. An opening, as in the deck of a ship, in the roof or floor of a building, or in an aircraft. b. The cover for such an opening. c. A hatchway. d. Press "In the past year I have experienced what I call the "full effect" of Creo's dedication to customer service and the lengths to which Creo personnel will go in order to build lasting, beneficial relationships with their customers, defined by dedication and loyalty by and for all parties. About one year ago, our company decided to upgrade our workflow. After much study and reviewing all of our options, we decided to purchase Creo's Prinergy(R). The support that we received from everyone we dealt with at Creo was nothing short of phenomenal. Whereas other vendors supply you with a product and a certain level of support, Creo's personnel - all of Creo's personnel - took "ownership" of this account and became our partners in business. Obviously the Management and the Directors of Creo have surrounded sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. themselves with the most capable and imaginative people to be found in this business and those people have been empowered by their management to employ not just their technical skills but their inventiveness Inventiveness Archimedes (287–212 B. C.) invented military engine which saved Syracuse. [Gk. Hist.: Hall, 31] Bell, Alexander Graham (1847–1922) inventor of telephone (1876). [Am. Hist. as well. This company greatly values its partnership with Creo." -- Jim Carter, Plant Manager, Knight-Abbey Commercial Printers Creo is currently responding to a small group of dissident shareholders seeking control of the company. Please visit www.creo.com/shareholdervalue to read other comments from customers voicing support for Creo. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are described under the caption "Certain Factors That May Affect Future Results" and elsewhere in our Annual Report for the fiscal year ended September 30, 2004, as filed with the U.S. Securities and Exchange Commission and which are incorporated herein by reference. We do not assume any obligation to update the forward-looking information contained in this news release. (C) 2005 Creo Inc. The Creo product names mentioned in this document are trademarks or service marks of Creo Inc. and may be registered in certain jurisdictions. Other company and brand, product and service names are for identification purposes only and may be trademarks or registered trademarks of their respective holders. Data subject to change without notice. About Creo Creo Inc. is a global company with key strengths in imaging, software, and digital printing plate technology. The leading provider of prepress systems, Creo helps over 25,000 customers worldwide adopt digital production methods which reduce costs, increase print quality and allow them to serve their customers more efficiently. Based on a solid foundation of intellectual property, Creo has an unmatched range of technology solutions that address the needs of commercial, publication, on demand, packaging, and newspaper printers, and creative professionals. Creo product lines include software and hardware for computer-to-plate imaging, systems for digital photography, scanning, and proofing, as well as printing plates and proofing media. Creo also supplies on-press imaging technology, components for digital presses, color servers and high-speed digital printers. Based in Vancouver, Canada, Creo reported fiscal 2004 revenue of US$636 million. Creo trades on NASDAQ (CREO) and the TSX (CRE). |
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