headlines

Creative Homeowner Acquired by Courier Corporation

Upper Saddle River, NJ — April 28, 2006 — Creative Homeowner today announced it has been acquired by Courier Corporation. Courier Corporation (Nasdaq: CRRC), headquartered in North Chelmsford, Massachusetts, is one of America's leading book manufacturers and publishers of specialty books.

Creative Homeowner principals, Allan Blair and Henry Toolan, welcomed the transaction in a joint statement, saying, "Becoming part of Courier opens up great opportunities for our people and our brand. Courier's management skills, financial resources, manufacturing capabilities and strong customer relationships will add tremendous value to the Creative Homeowner product line, enabling it to reach a larger and more diverse audience than ever before."

Both principals have been impressed with the growth the Company has experienced under its current management team and believe Courier is a strong fit for Creative Homeowner’s future growth.

"Since entering the specialty publishing business with our acquisition of Dover back in 2000, we have continued to look for additional publishers with similar business models, strong management and unrealized growth opportunities," said Courier Chairman and Chief Executive Officer James F. Conway III. "Two years ago we found one in REA. Now, with Creative Homeowner, we have taken a much larger step into one of the highest-growth markets in the book publishing industry. Creative Homeowner books have been strikingly successful at capturing the imagination of today's families, with dozens of titles holding #1 or #2 market positions in their categories. As a result, over the last three years Creative Homeowner sales have risen at a compound annual growth rate of 9%. We are proud to welcome this nationally known brand — and the seasoned organization behind it — into the Courier family."

"In building a top-shelf nationwide brand, Creative Homeowner has more than lived up to its name, with innovative, exciting products tailored to emerging market segments. Creative Homeowner titles are not simply category leaders, but category creators — a capability that will have increasing value as we go forward. And the editorial and marketing organization behind this content is clearly up to the task of achieving further growth. We see the Creative Homeowner acquisition as both a valuable addition to Courier and a model for future expansion in our publishing segment."

Creative Homeowner publisher, Brian Toolan, said, “Our entire organization is thrilled to become part of Courier. In recent years, we have observed the progress of Dover and REA under Courier ownership with great interest. By joining forces, we will be able to play an important role in the growth and direction of Courier’s publishing segment while creating new opportunities for our employees and customers.”

Creative Homeowner’s current management team will remain in their respective roles. The Company will continue to publish its excellent line of publications and provide the level of service and support that its customers and partners have come to expect. In addition, by joining forces with Courier, Creative Homeowner will be able to play a much more significant role in the continued growth and success of our publishing categories to the benefit of the Company’s customers, partners and consumers.

Creative Homeowner will become a part of Courier’s publishing segment, which also includes Dover Publications and Research and Education Association, Inc. Creative Homeowner’s emphasis on high-quality, four-color production dovetails with the state-of-the-art four-color printing capabilities of Courier’s book manufacturing operations. Creative Homeowner will continue to operate from its Upper Saddle River location in New Jersey.

GLC Securities Corp., an affiliate of Gruppo, Levey & Co., acted as advisors to Creative Homeowner.

About Creative Homeowner
For more than two decades, Creative Homeowner has served homeowners and do-it-yourselfers with a variety of publications that combine innovative design, practical guidance, elegant four-color production and excellent consumer value. With more than 125 active titles, the Creative Homeowner line covers all aspects of home design, decorating, repair and improvement as well as home arts, landscaping and gardening. The company also publishes pre-drawn house plans designed for a range of residential styles and needs, and serves as a distributor for other publishers of home and garden books. Creative Homeowner products can be viewed at the company's websites, www.creativehomeowner.com and www.ultimateplans.com.

About Courier Corporation
Courier Corporation prints, publishes and sells books. Headquartered in North Chelmsford, Massachusetts, Courier has two business segments, full-service book manufacturing and specialty book publishing. For more information, visit www.courier.com.