Exhibit 99.1
PROJECTED CAPITAL SPENDING
The following table includes the projected capital expenditures of the combined company for 2008 through 2012.
         
Year   Projected Capital Expenditure (in millions)
2008
   $ 237  
2009
     237  
2010
     209  
2011
     144  
2012
     141  

 

 

EBITDA Reconciliation:
($ in millions)
UNAUDITED PRO FORMA CREDIT AGREEMENT EBITDA RECONCILIATION
         
    PF  
    12/31/2007  
2007 Graphic EBITDA
   $ 347.0  
 
Adjustments:
        
(+) Pension Add-back
   $ 21.3  
(+) Merger Related Expenses
     4.6  
(+) Other
     1.0  
 
      
Graphic Credit Agreement EBITDA
   $ 373.9  
 
        
2007 Altivity EBITDA
   $ 175.8  
 
        
Adjustments:
        
Losses from Closed Facilities
     1.7  
Restructuring Expense — Closed Facilities
     1.0  
One-Time Carve Out Expenses
     23.4  
Duplicative Stand Alone Cost
     1.2  
Extraordinary & Non-Recurring — Severance / Relo’s
     7.0  
Amortization of Stepped Up Inventory
     (0.1 )
Minority Interest (Income) / Loss
     0.9  
Gain / Loss on Disposal of Fixed Assets
     (0.6 )
Santa Clara Fire/ KC Bag Water/ Philadelphia Boiler Losses
     0.3  
One time Graphic Packaging Merger Related Cost
     2.9  
Initial Marseilles Savings
     0.9  
Initial Ink Synergies
     4.0  
Equipment Lease Buyout
     1.0  
Headcount Reduction Savings — Delayering
     0.8  
Altivity 2008 Projected Cost Savings
     23.0  
 
      
Altivity Credit Agreement EBITDA
   $ 243.2  
 
        
Transaction Cost Synergies
     20.0  
 
      
 
        
Pro Forma Credit Agreement EBITDA
   $ 637.1  
 
        
Transaction Cost Synergies:
        
Plant Rationalization
   $ 3.5  
SG&A
     6.0  
Procurement
     6.4  
Mill Optimization
     4.1  
 
      
Total
   $ 20.0