FOR IMMEDIATE RELEASE CONTACT:  Rubenstein Associates,  Inc.
                                                    Jackie Kaplan 212/843-8290


                    DAY RUNNER, INC. REPORTS SALE OF FILOFAX


     FULLERTON,  CA.  April  26,  2001.  Day  Runner,  Inc.  (OTCBB.DAYR)  today
announced the sale of its Filofax  operations  for $30 million which was used to
reduce existing debt. The sale is a significant step in the Company's  financial
restructuring  plan to improve  profitability  and its  capital  structure.  The
Filofax operations were sold to entities affiliated with the Company's lenders.

     All  forward-looking  statements  made  in  this  news  release  constitute
forward-looking  statements  within the meaning of the federal  securities laws.
These forward-looking  statements reflect the Company's current expectations and
are subject to numerous risks and uncertainties that may cause actual results to
differ materially from those described in the forward-looking statements.  These
include but are not limited to: (1) the  Company's  liquidity is dependent  upon
its ability to  successfully  renegotiate  the terms of its bank loan  agreement
and/or obtain  waivers of such  agreement and there can be no assurance that the
Company  will  succeed  in  renegotiating   and/or  obtaining  waivers  of  such
agreement;  (2) the Company has  reported  substantial  losses over the last two
fiscal  years and  there  can be no  assurance  that the  Company's  substantial
restructuring plan will be successful in returning the Company to profitability;
(3) the Company's  efforts to control costs may not prove  sufficient to prevent
future  increases in operating  expenses in dollars or as a percentage of sales;
(4) the Company may not be able to  counteract  the effects of large  customers'
supply chain  management in any  significant  way which may result in lower than
expected sales and/or higher than expected product returns;  (5) the Company may
not correctly anticipate the product mix of retailers'  "just-in-time" inventory
demands,  resulting in the temporary unavailability of the products in demand by
retailers and lower sales;  and (6) there can be no assurance that the Company's
new products will meet with market acceptance.

     Additional  factors that may cause future results to differ materially from
the Company's current  expectations  include,  among others:  timing and size of
orders  from  large  customers;  timing  and size of  orders  for new  products;
competition,  especially  for  retail  shelf  space;  consumer  demand;  general
economic conditions; the health of the retail environment; foreign exchange rate
fluctuations; supply constraints; and supplier performance. Among the effects of
these  factors may be: lower than  anticipated  sales;  higher than  anticipated
product returns and/or excess inventory; negative effects on consumer purchases;
lower than anticipated gross profit; higher than anticipated operating expenses;
and lower than anticipated net income.

     For  additional  risks and more detailed  explanations  of factors that may
cause the  Company's  results of  operations  to vary  materially  from  current
expectations, see the Company's Form 10-K for the year ended June 30, 2000 filed
with the SEC.

     Day  Runner,  Inc.  is a  leading  developer  and  marketer  of  loose-leaf
paper-based  organizers for the North American retail markets.  The Company also
develops  and  markets  a  number  of  related  organizing  products,  including
telephone/address  books, business  accessories,  organizing tools for students,
wallboards,    laminated    wall    planners,    and   the   Home    Manager(TM)
on-the-refrigerator organizer.














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(R)Day Runner is a registered trademark of Day Runner, Inc., and Home Manager is
a trademark of Day Runner, Inc.