RR Donnelley Names John Paloian to Lead New Publishing and Retail Services Group.

Business Editors

CHICAGO--(BUSINESS WIRE)--March 25, 2004

R.R. Donnelley & Sons Company (NYSE:RRD) announced today that John R. Paloian has been named Group President, Publishing & Retail Services (previously announced as Long-Run Print Solutions), effective immediately. Mr. Paloian, 45, will have responsibility for the Company's magazine, catalog, retail advertising insert and directory businesses. He will report to Mark A. Angelson, Chief Executive Officer of RR Donnelley.

A widely recognized leader in the print industry, Mr. Paloian is returning to RR Donnelley after six years at Quebecor World Inc., where he was most recently Co-Chief Operating Officer. He served previously as President of Quebecor World's Magazine/Catalog business.

"There is no more well-respected executive in our industry than John Paloian. He brings an extraordinary customer focus and a commitment to drive revenue growth and profitability," said Mr. Angelson. "John's leadership will be invaluable as we continue our integration process and reconfigure our approach to the markets for which he will have primary responsibility. He will be particularly effective as we bolster our presence in the publishing and retail sectors."

Mr. Paloian began his career at RR Donnelley in 1986, where he held roles of increasing responsibility over his 11-year tenure, most recently as Senior Vice President and General Manager of Magazine Publishing Services.

"I am delighted to welcome John home to RR Donnelley," Mr. Angelson concluded.

About RR Donnelley

RR Donnelley (NYSE:RRD) designs, manages and produces words and images, and brings them to life on paper and in digital form for customers in the publishing, healthcare, advertising, retail, technology, financial services, and many other industries. Founded 140 years ago, the company provides solutions in commercial printing, forms and labels, direct mail, financial printing, print fulfillment, business communication outsourcing, logistics, online services, digital photography, and content and database management. The largest companies in the world and others rely on RR Donnelley's scale, scope and insight through a comprehensive range of online tools, variable printing services, and market-specific solutions. As the largest printer in North America with strong positions across the globe, RR Donnelley is changing the role of print in every marketplace it serves. For more information, visit the Company's web site at www.rrdonnelley.com.

Use of Forward-Looking Statements 

Except for historical information, this news release may contain "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date of this press release and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause the actual results to differ materially from such forward-looking statements. Readers are strongly encouraged to read the full cautionary statements described in RR Donnelley's and Moore Wallace's filings with the U.S. Securities and Exchange Commission (SEC) and Canadian securities regulatory authorities, as applicable, including the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" contained therein. RR Donnelley disclaims any obligation to update or revise any forward-looking statements.

Factors relating to the completion of the transaction and the integration of the businesses that could cause material differences in the expected results of the combined company include, without limitation, the following: the development and execution of comprehensive plans for asset rationalization, the ability to eliminate duplicative overhead without excessive cost or adversely affecting the business, the potential loss of customers and employees as a result of the transaction, the ability to achieve procurement savings by leveraging total spending across the organization, the success of the organization in leveraging its comprehensive product offering to the combined customer base as well as the ability of the organization to complete the integration of the combined companies without losing focus on the business. In addition, the ability of the combined company to achieve the expected revenues, accretion and synergy savings will also be affected by the effects of competition (in particular the response to the transaction in the marketplace), the effects of paper and other raw materials and fuel price fluctuations and shortages of supply, the rate of migration from paper-based forms to digital formats, the impact of currency fluctuations in the countries in which RR Donnelley and Moore Wallace operate, general economic and other factors beyond the combined company's control, and other risks and uncertainties described from time to time in RR Donnelley's and Moore Wallace's periodic filings with United States and Canadian securities regulatory authorities, as applicable.