Date: Fri, 21 Nov 1997 03:10:15 GMT Server: Apache/1.1.1 Content-type: text/html Content-length: 4304 Last-modified: Wed, 15 Oct 1997 21:00:14 GMT Anacomp - Newswire


        Anacomp Announces New, Lower-Rate Senior Credit Facility

      Also Announces Additional $28 Million Reduction of Senior Debt

    SAN DIEGO, March 3 /PRNewswire/ -- Anacomp, Inc. (Nasdaq: ANCO), a leader
in information delivery systems and services, today announced that it has
closed on a new, $80 million senior secured credit facility underwritten by
Lehman Brothers, Inc.
    As part of the refinancing, Anacomp issued a new $55 million four-year
term loan on Friday.  The new loan replaces Anacomp's 11-5/8% senior secured
notes due 1999, which were redeemed on Friday.  The new credit facility also
includes a $25 million revolver, currently undrawn, provided by The First
National Bank of Chicago and Lehman Brothers.
    In addition, Anacomp made a $28 million debt reduction payment on Friday,
reducing its outstanding senior debt to $55 million.  That payment follows two
earlier principal pre-payments, of approximately $14.3 million each, that the
company has made since exiting Chapter 11 last June.
    "We're very pleased with our new senior credit facility and our new
relationships with Lehman Brothers and First Chicago," said Donald L. Viles,
Anacomp's chief financial officer.  "This new facility and the lower interest
rate will save us more than $3 million in the first year alone.  In addition,
the amortization schedule for the new loan provides improved near-term
liquidity, and our new revolving credit facility gives us greater flexibility
in managing our cash.
    "We're also proud of the debt reduction we've achieved since exiting
Chapter 11 nine months ago," continued Viles.  "We have repaid $65 million of
our senior debt obligations in that time frame, or more than half of our
starting balance.  That's consistent with a primary financial strategy to
delever the company, and it's a credit to our fundamentally strong cash flows
during this period."
    Serving customers throughout the world, Anacomp provides products and
services that manage corporate information throughout its life cycle.

    NOTE:  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 are available through
Anacomp's Company News-On-Call service by calling 800-758-5804
(Anacomp ID: 054532).

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,
both of Anacomp.