K Capital Supports Other Shareholders in Calling for Change at CeWe Color.

BOSTON -- K Capital is a Boston-based investment manager that owns in excess of 5% of the share capital of CeWe Color Holding AG ("CeWe" or the "Company"). K Capital shares the concerns outlined by M2 in its request to call an EGM dated January 25, 2007 and its press release dated January 31, 2007. Specifically, K Capital is concerned about the following:

1. CeWe management's inability to deliver profitable growth and shareholder returns;

2. CeWe's massive capital expenditure and marketing programs, which lack well-articulated strategies;

3. CeWe management's desire to make acquisitions outside of its core competency (digital and analogue photography); and

4. CeWe's sub-optimal capital structure.

K Capital believes that all stakeholders would benefit from a better management team. K Capital welcomes the opportunity to begin the process to replace the management team by voting for new Supervisory Board Members as soon as possible.

K Capital is confident that with the right management team and strategy, CeWe can create tremendous value.