Document Security Systems (DMC) to Acquire All Assets of DPI of Rochester

November 7, 2008 9:08 AM EST

Document Security Systems, Inc., (NYSE: DMC) has entered into a definitive agreement to acquire substantially all of the assets of DPI of Rochester, LLC ("DPI") subject to court approval in DPI's pending Chapter 11 bankruptcy case. DPI is a full service digital and commercial offset printer located in Rochester, NY with approximately $7.6 million in annual sales in 2007.

Document Security Systems may provide debtor-in-possession financing, subject to United States Bankruptcy Court approval, to DPI during its Chapter 11 reorganization process to prevent any disruption of service to DPI's customers. The purchase of assets is expected to be completed in the quarter ended December 31, 2008 and is subject to the United States Bankruptcy Court approval and an opportunity for other parties to overbid for DPI's assets. Document Security Systems' obligations under the agreement are conditioned upon the negotiation of real and personal property leases, the approval of the bankruptcy court and other matters. There can be no assurance that the transaction contemplated by the purchase agreement will be approved by the bankruptcy court or that the conditions to closing will be met.

Document Security Systems is involved in the development of optical deterrent technologies that help prevent counterfeiting and brand fraud from the use of the most advanced scanners, copiers and imaging systems in the market.[SM]

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