FAC Acquisition Corporation Completes Acquisition of Hunt Corporation.

Business Editors

PHILADELPHIA--(BUSINESS WIRE)--Dec. 19, 2002

FAC Acquisition Corporation ("FAC"), which is a wholly owned subsidiary of FAC Holding Corporation, announced today the completion of its previously announced acquisition of Hunt Corporation (NYSE: HUN) ("Hunt") by the merger of FAC into Hunt, with Hunt as the surviving corporation.

As a result of the merger, which was effective on December 19, 2002, each common share of Hunt, not owned by FAC Holding Corporation or its subsidiaries or held in treasury by Hunt, was converted into the right to receive $12.50 per share in cash, subject to dissenters' rights.

FAC had previously accepted approximately 93% of Hunt's outstanding common shares pursuant to a tender offer that expired on December 13, 2002. American Stock Transfer & Trust Company, the Paying Agent for the merger, will mail to the remaining Hunt shareholders materials to be used to surrender share certificates for payment. Hunt shareholders are urged to read these materials in full.

Hunt Corporation, with operations in the United States and Canada, is an internationally recognized manufacturer and marketer of innovative office products and presentation and display solutions for business, education and consumer markets. Among Hunt's well-known product brand names are X-ACTO(R), BOSTON(R) and BIENFANG(R).