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Paragon Corporate Holdings, Inc. Names Frank Zaffino President and CEO

17 December 1999

Paragon Corporate Holdings, Inc. Names Frank Zaffino President and CEO

    NILES, Ill., Dec. 17 -- Frank D. Zaffino has been named
president and chief executive officer of Paragon Corporate Holdings, Inc.
Paragon is a privately held holding company whose business units manufacture
and distribute printing equipment and supplies, and distribute automotive and
industrial supplies.
    One of Zaffino's primary initiatives is to oversee the integration of the
pending acquisition of Multigraphics, Inc. into Paragon.  On September 29,
1999, Paragon entered into an agreement to purchase all of the outstanding
shares of Multigraphics.  Multigraphics provides a full range of high-quality
pre-press, press and post-press equipment, supplies and technical services to
a broad national customer base.  The merger is expected to close in January
2000.
    Zaffino brings a strong background including relevant manufacturing and
organizational management experience to Paragon.  He began his career at
Eastman Kodak in 1963, and was named a vice president in 1985.  In 1993,
Zaffino was appointed general manager of Kodak's Equipment Manufacturing
Division.  In that role, he was responsible for managing the Global Equipment
Manufacturing network before retiring from the company in 1999.  Zaffino is
currently on the Paragon Board of Directors.
    Paragon's A.B. Dick Company is a leading manufacturer and distributor of
printing products and service provider to the global quick print and small
commercial printing segments.
    Paragon's other operating company, Curtis Industries, supplies a wide
range of products, including automotive security products, key-cutting
equipment, key blanks, and non-model specific automotive parts; as well as
industrial maintenance, repair and operating supplies, including fasteners,
connectors, chemicals and tools.
    Paragon Corporate Holdings, based in Niles, Illinois, began operations in
January 1997, when it acquired A.B. Dick Company and its wholly owned
subsidiaries.  In December 1997, the company acquired Curtis Industries.
Including Multigraphics, Paragon will have annual revenues of approximately
$370 million.