Date: Fri, 21 Nov 1997 03:10:25 GMT Server: Apache/1.1.1 Content-type: text/html Content-length: 4075 Last-modified: Wed, 15 Oct 1997 21:00:18 GMT Anacomp - Newswire


      Anacomp Announces $200 Million Senior Subordinated Debt Offering

    SAN DIEGO, March 19 /PRNewswire/ -- Anacomp, Inc. (Nasdaq: ANCO), a leader
in information delivery systems and services, today announced an offering
pursuant to Rule 144A of $200 million 10-7/8% Senior Subordinated Notes due
2004 priced at 98.2071%.  NatWest Capital Markets Limited is acting as the
sole lead manager of the offering.
    Anacomp will use the net proceeds from the new notes for the redemption of
its existing $172 million face amount of 13% Senior Subordinated Notes due
2002; approximately $5 million of accrued interest relating to the existing
notes; a 3% call premium of approximately $5 million for the redemption; the
reduction of $10 million of a $25 million interest-bearing trade credit
facility provided by SKC America, Inc. (SKC); and approximately $5 million of
offering fees and expenses.
    As a result of the refinancing, Anacomp will record an extraordinary
$17 million charge to income in its fiscal third quarter related to the
discharge of the indebtedness.  Most of this charge is related to the fact
that the existing senior subordinated notes were recorded at a discount.
    The company plans to redeem the existing notes in early April, following
the required notice period to note holders.  The offering and the redemption
are contingent upon final approval by Anacomp's senior lenders and by SKC,
both of which are expected.
    The new 10-7/8% Senior Subordinated Notes will not be registered under the
Securities Act of 1933, and they may not be offered or sold in the United
States absent registration or an applicable exemption from registration.
However, Anacomp intends to file a registration statement with the Securities
and Exchange Commission in the near future, and upon effectiveness of the
registration statement will exchange the privately placed senior subordinated
notes for substantially identical publicly registered senior subordinated
notes.
    Serving customers throughout the world, Anacomp provides products and
services that manage corporate information throughout its life cycle.

SOURCE  Anacomp, Inc.

CONTACT: Media: Jeff Withem, 404-876-3361 or jwithem@anacomp.com;
or Analysts: Nancy Vandeventer, 800-350-3044 or nvandeventer@anacomp.com