Evercore Investment Banking Pitch Book

Discussion Materials Illustrative Cost Synergy Potential % LTM Revenue Harland Clarke Deluxe Combined % LTM Cash Operating Expenses Harland Clarke Deluxe Combined Implied PF EBITDA Margin Implied PF Margin Improvement (bps) Date 1/25/10 12/27/06 5/17/04 11/08/03 01/20/03 Illustrative Range of Cost Synergies $50 Statistic Precedent Transaction $1,133 1,415 2,548 Quad/Graphics / WorldColor Cenveo / Cadmus Communications Deluxe Corp / New England Bus. Service RR Donnelley/Moore Wallace Moore Inc./ Wallace Computer $8.30 1,043 1,872 4% 4% 2% Precedent Announced Synergies 6% 5% 3% 2 28% 196 Expense Synergies $225 20 25 100 50 Mean Median Source: Company Slings (1) Cash operating expenses includes all costs of goods sold and selling general and administrative expenses, excluding depreciation and amortization EVERCORE PARTNERS $100 9% 7% 12% 10% 5% 30% 392 7% 4% 4% 3% 3% Preliminary Draft - Confidential ($ in millions) Revenue 4% 4% $150 13% 11% 6% 18% 14% 8% 32% 589 % Target LTM Cash OpEx 8% 5% 4% 4% 4% 5% 4% (1)

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