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APC HOLDING ANNOUNCES CASH TENDER OFFERING OF SUBSIDIARY

 CHICAGO and NEW YORK, Jan. 22 /PRNewswire/ -- APC Holding, Inc., a company formed at the direction of Kohlberg Kravis Roberts & Co., and which is an affiliate of World Color Press, Inc., announced today that APC Merger Corporation, a wholly owned subsidiary of APC Holding, Inc., has commenced its previously announced cash tender offer at $15.00 per share net to seller and without interest for all outstanding shares of common stock of The Alden Press Company (NASDAQ-NMS: ALDN). The offer is being made by mailing an Offer to Purchase and related Letter of Transmittal to holders of the common stock.
 The offer is subject to, among other conditions, APC Holding obtaining satisfactory financing and APC Merger being able to purchase more than 50 percent of the then outstanding shares of common stock of Alden Press pursuant to the offer and stock purchase agreements APC Merger executed with certain stockholders of Alden Press holding an aggregate of 4,760,000 shares, or approximately 64.5 percent of the outstanding shares, providing for the purchase of such shares following consummation of the offer at a price of $15 per share in cash net to seller.
 The offer and withdrawal rights will expire at 8 a.m., New York City time, on Friday, Feb. 26, 1993, subject to extension.
 Berenson Minella & Company is acting as dealer manager in connection with the offer. D.F. King & Co., Inc. is to act as information agent.
 -0- 1/22/93
 /CONTACT: Gary Minnig of the Alden Press Company, 708-640-6000, or Ruth Pachman or Josh Pekarsky of Kekst and Company, 212-593-2655, for the Alden Press Company/
 (ALDN)


CO: APC Holding, Inc.; World Color Press, Inc.; Alden Press Co. ST: Illinois, New York IN: PUB SU: OFR

PS -- NY011 -- 7791 01/22/93 09:37 EST
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Publication:PR Newswire
Date:Jan 22, 1993
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