AGI Media – Q3 Review 2011

Tony Garnish, Chief Executive, AGI Europe
Mark Caines, Chief Executive, AGI North America

AGI Media – Q2 Review 2011

Tony Garnish, Chief Executive, AGI Europe
Mark Caines, Chief Executive, AGI North America

AGI Media (“AGI” or the “Company”) is a leading global creative services and packaging provider to the filmed entertainment, video game, music, technology, telecom and personal care industries. The Company operates through a network of seven print facilities, five plastics facilities and six Creative Service Division offices located throughout the U.S., Europe and Australia. We formed AGI by acquiring the AGI Media packaging businesses of MeadWestvaco Corporation in September 2010.

AGI’s plastics businesses, Amaray and Amaray U.S., had a very solid quarter despite an environment of volatile resin costs. AGI’s print businesses, both in the U.S. and Europe, suffered during the second quarter as a result of weak market conditions and excessive costs due to restructuring efforts on both sides of the Atlantic. During the quarter, AGI’s U.S. print business achieved a number of important milestones in its major restructuring initiatives. The most significant event was the closure of the Jacksonville, Ill., facility in June and consolidation of that business into the Melrose Park, Ill., plant.

Amaray U.S., the U.S. plastics business, also demonstrated important progress during the second quarter. Amaray U.S. consolidated its footprint in Pittsfield, Mass., by combining operations from two buildings into one. The business’ strong results during the quarter were especially impressive in light of the volatility in resin costs, a result attributable to the Amaray U.S. team aggressively managing their business.

The story in Europe during the second quarter was similar to that in the U.S. A highlight for the quarter was the announcement that AGI won the prestigious Excellence in Safety Management award from the British Printing Industries Federation.

AGI Media – Q1 Review 2011

Tony Garnish, Chief Executive, AGI Europe
Mark Caines, Chief Executive, AGI North America

AGI Media (“AGI”) is a leading global creative services and packaging provider to the filmed entertainment, video game, music, technology, telecom and personal care industries. The Company operates through a network of eight print facilities, five plastics facilities and six Creative Service Division offices located throughout the U.S., Europe and Australia. AGI was formed through the acquisition of the AGI Media packaging businesses of MeadWestvaco Corporation (“MWV”), which were acquired by Atlas in September 2010.

Our first six months of ownership of AGI have been marked by strong financial performance and important progress in addressing some of the key challenges facing the business. The Q1 performance exceeded expectations, notwithstanding the headwinds AGI’s plastics businesses faced in the form of rising resin prices driven by the escalating price of oil. We are very pleased with both the reduction of debt since the closing of a new debt financing in November and the company’s excellent liquidity position.

AGI made a number of significant operational strides since our acquisition that set the stage for financial improvement in the balance of the year and beyond. We are focused on building AGI into a Performance Organization, and a critical enabler is the creation of a world-class safety culture. One of the positive legacies of prior ownership under MWV is a company-wide focus on safety that continues to produce excellent results.

Finally, we have strengthened the support provided to Company management by adding Operating Partners Tom Costello, Michael Goodrich and Richard Gozon to the AGI Board. Mr. Costello is the former CEO of the Xpedx division of International Paper, Mr. Goodrich is the former Chairman and CEO of BE&K Inc., and Mr. Gozon is the Chairman of AmerisourceBergen and former Executive Vice President of Weyerhaeuser. We and the AGI management team are very pleased that these talented Operating Partners with global experience have agreed to join the team.