Date: Fri, 21 Nov 1997 03:09:55 GMT Server: Apache/1.1.1 Content-type: text/html Content-length: 4625 Last-modified: Wed, 15 Oct 1997 21:00:09 GMT Anacomp - Newswire
             Anacomp Announces Date of Senior Debt Refinancing 
                and Redemption of Outstanding Senior Notes


    Company will Reduce Senior Debt to $55 Million with a $25 Million Revolver

    ATLANTA, Jan. 27 /PRNewswire/ -- Anacomp, Inc. (Nasdaq: ANCO) today
announced that it plans to redeem all of its outstanding 11-5/8% Senior
Secured Notes due September 30, 1999 as part of a refinancing plan
underwritten by Lehman Brothers, Inc.  The senior secured notes will be
redeemed at 100% on February 28, 1997, the date set for the Lehman Brothers
refinancing.
    The Bank of New York, the trustee for the senior secured notes, will act
as paying agent.
    The refinancing plan calls for a new $80 million senior debt facility that
will replace Anacomp's existing senior secured notes.  The new debt facility
will consist of $55 million in term loans and an available revolver of up to
$25 million.
    Anacomp's senior debt, which was approximately $120 million at the time of
the company's emergence from Chapter 11 last June, currently is approximately
$97 million.  Anacomp intends to pre-pay the next principal installment of
approximately $14.3 million on February 20, 1997, about six weeks ahead of
schedule.  On February 28, 1997, Anacomp will use available cash and
borrowings under the new senior debt facility to redeem the balance of the
senior secured notes, reducing the company's senior debt to $55 million in new
term loans and leaving the $25 million revolver undrawn.
    Serving customers throughout the world, Anacomp provides products and
services that manage corporate information throughout its life cycle.
    All of Anacomp's news releases are distributed through PR Newswire, an
international wire service that can be accessed through the Internet or
numerous on-line providers.  Recent news releases and quarterly reports are
available through Anacomp's Company News-On-Call service by calling
1-800-758-5804, ext. 054532.

SOURCE  Anacomp, Inc.
CONTACT: Kris Wm. Chvatal, Chvatal Associates, 619-633-2230, email, kris@chvatal.com; Wendy McPetrie, Anacomp, Inc., 619-679-9736, ext. 5400, email, wmcpetrie@anacomp.com; Albie Jarvis, email, albie.jarvis@cbpr.com, or Dana Lieske, email, dana.lieske@cbpr.com, Copithorne & Bellows, 617-450-4300, or Colleen Edwards, FileNet Corp., 714-966-3218, email, cedwards@filenet.com NOTE: All of Anacomp's news releases are distributed through PRNewswire, and are accessible via the Internet (http://www.prnewswire.com) or through numerous on-line service providers. Recent news releases and quarterly reports are also available through Anacomp's home page (http://www.anacomp.com) and Anacomp's Company News-on-Call service, 800-758-5804, ext. 054532