Exhibit(c)(3)

Presentation to Colorprint Board Discussion Materials

Goldman, Sachs & Co. 9-Nov-2006

Table of Contents

I. Executive Summary II. Valuation Update III. Strategic Alternatives Appendix A: Financial Sponsors Profiles Appendix B: Additional Information Appendix C: Hellman & Friedman Proposal

Goldman Sachs does not provide accounting, tax, or legal advice. Notwithstanding anything in this document to the contrary, and except as required to enable compliance with applicable securities law, you (and each of your employees, representatives, and other agents) may disclose to any and all persons the US federal income and state tax treatment and tax structure of the transaction and all materials of any kind (including tax opinions and other tax analyses) that are provided to you relating to such tax treatment and tax structure, without Goldman Sachs imposing any limitation of any kind.

I. Executive Summary

Hellman & Friedman Preliminary Indication of Interest Key Transaction Terms

100% ACQUISITION – ALL CASH CONSIDERATION Date of Letter ? October 20, 2006 Equity consideration per share ? $33.00-$34.00 Expected Source of Financing ? Equity provided by H&F Funds only ? Source of debt financing not specified Timing Issues ? Request access to management and non-public information for four weeks following confidentiality agreement ? Request 6 week exclusivity period to reach an agreement Position Regarding Existing Management ? Will only pursue a transaction that has the support of Colorprint’s board of directors and management Other Considerations / Assumptions ? Based on publicly available information ? Willing to provide a post-signing “market check” for valuation ? Marketing services is an area of investment focus for H&F: — Part of consortium that acquired VNU in June 2006 — Invested $315 mm in take private transaction of DoubleClick in 2005 — 1996 and 1996 minority stake investments in Young & Rubicam and Digitas

Advisors ? Not disclosed

Illustrative Analysis at Various Prices ($ in millions, except per share data) Illustrative Analysis at Various Prices ($ in millions, except per share data) Premium to Current Price 0.0 % 10.0% 20.0%30.0% 40.0%50.0% Price Per Share $ 24.93 $ 27.42 $ 29.92 $ 32.41 $ 34.90 $ 37.40 Equity Value 1,169 1,296 1,4331,569 1,7061,843 Net Debt (at 30-Sep-06) 79 7979 79 7979 Enterprise Value 1,2481,375 1,512 1,649 1,785 1,922 Premium to: 30 Day Average $ 27.08 (8.0)% 1.2 % 10.5 % 19.7 % 28.9 % 38.1 % 60 Day Average 27.28 (8.6) 0.5 9.7 18.8 27.9 37.1 90 Day Average 27.61 (9.7) (0.7) 8.4 17.4 26.4 35.5 180 Day Average 27.92 (10.7) (1.8) 7.2 16.1 25.0 33.9 52 Week High Price 29.77 (16.3) (7.9) 0.5 8.9 17.2 25.6 EBITDA ¹ Management / IBES LTM — 9/30/06 $ 151.9 8.2 x 9.1 x 10.0 x 10.8 x 11.7 x 12.6 x CY2006E — Management $ 152.8 8.2 x 9.0 x 9.9 x 10.8 x 11.7 x 12.6 x CY2006E — IBES ² 152.7 8.2 9.0 9.9 10.8 11.7 12.6 CY2007E — Management 168.7 7.4 8.2 9.0 9.8 10.6 11.4 CY2007E — IBES ³ 157.9 7.9 8.7 9.6 10.4 11.3 12.2 EPS CY2006E — Management $ 1.46 17.1 x 18.8 x 20.5 x 22.3 x 24.0 x 25.7 x CY2006E — IBES ² 1.41 17.7 19.4 21.2 23.0 24.8 26.5 CY2007E — Management 1.50 16.6 18.3 19.9 21.6 23.2 24.9 CY2007E - IBES ³ 1.40 17.8 19.6 21.3 23.1 24.9 26.7 PEG (LT — IBES) CY 2006E P/E 9.3 % 1.9 x 2.1 x 2.3 x 2.5 x 2.7 x 2.8 x CY 2007E P/E 9.3 1.9 2.1 2.3 2.5 2.7 2.9 Executive Summary 4

II. Valuation Update

Market Performance Price Appreciation by Sector

—

2000 2001 2002 2003 2004 2005 2006YTD1 — — Colorprint 0.9% (10.9)% (46.7)% 9.0% 47.0% (14.4)% (1.7)% — —

Sectors — — Marketing Services2 8.9% 12.9% (17.4)% 21.1% 19.4% (12.5)% 2.1% — — Information Services3 18.7 42.2 (0.3) 30.9 17.6 20.4 0.1 — — Advertising4 (17.1) (17.3) (37.6) 23.5 (3.4) 1.0 6.6 — — Publishing5 (13.1) (9.0) (14.4) 24.6 21.2 5.4 26.9 — —

Industry Standards — — S&P 500 (10.1)% (13.0)% (23.4)% 26.4% 9.0% 3.0% 10.5% — — NASDAQ Composite Index (39.3) (21.1) (31.5) 50.0 8.6 1.4 7.3

— 1 As of 6-Nov-2006. 2 Marketing Services: Acxiom, Harte Hanks, InfoUSA, Valassis, and Advo. 3 Information Services: Moody’s, Dun & Bradstreet, Equifax, Alliance Data Systems, Fair Isaac, First Advantage and ChoicePoint. 4 Advertising: Omnicom Group, Interpublic, Publicis, Havas, and WPP Group. 5 Publishing: News Corp, Thomson Corporation, McGraw-Hill, and Wolters Kluwer.

Colorprint Shares Traded at Various Prices

Colorprint Shares Traded at Various Prices

Colorprint Enterprise Value / EBITDA Trading History Three Years

Comparison of Selected Companies ($ in millions, except per share data) — Comparison of Selected Companies ($ in millions, except per share data) Closing      % of            Equity            Calendarized 5-Year 2006 PE 2007 PELTM Price 52 Week            MarketEnterpriseEnterprise Value / EBITDA P/E Multiples ² Est. EPS to 5-Year to 5-YearEBITDA Company 06-Nov-06High            Cap ¹ Value ¹ LTM ¹ 2006E 2007E 2006 2007 CAGR ² CAGR ² CAGR ²Margin ¹ Colorprint — IBES $ 24.9384 % $ 1,169 $ 1,2488.2 x 8.2 x 7.9 x 17.7 x 17.8 x 9.3 % 1.9 x 1.9 x34.5 % Colorprint — Management 8.2 7.4 17.1 16.6 Marketing Services Acxiom $ 25.1295 % $ 2,265 $ 2,9687.3 x 7.4 x 7.0 x 25.8 x 21.1 x 15.0 % 1.7 x 1.4 x29.7 % Harte Hanks 25.8786 2,096 2,22710.1 10.2 9.5 18.7 16.9 11.2 1.7 1.518.8 Advo 28.7778 914 1,0379.9 9.9 NA 22.1 15.7 15.0 1.5 1.07.3 Valassis Communications 15.1248 723 8966.5 6.5 6.8 9.6 10.1 7.0 1.4 1.412.9 InfoUSA 11.6690 650 7838.9 8.5 7.2 18.2 13.6 NA            NA            NA21.5 Median 86 % 8.9 x 8.5 x 7.1 x 18.7 x 15.7 x 13.1 % 1.6 x 1.4 x15.9 % Mean 79 8.5 8.5 7.6 18.9 15.5 12.0 1.6 1.417.2 Information Services Moody’s $ 66.0691 % $ 19,434 $ 19,50418.8 x 17.5 x 15.9 x 30.2 x 27.0 x 15.0 % 2.0 x 1.8 x56.2 % Alliance Data 59.9399 4,966 5,56413.6 11.0 9.8 19.5 16.9 18.0 1.1 0.923.1 Dun & Bradstreet 77.6499 5,068 5,30611.6 11.7 10.7 19.8 17.1 13.3 1.5 1.330.8 ChoicePoint 37.0080 3,210 3,4019.8 10.1 9.6 22.7 19.5 15.0 1.5 1.333.0 Fair Isaac 39.6182 2,597 2,68111.5 NA 9.3 17.8 15.9 15.0 1.2 1.128.3 First Advantage 20.0466 1,164 1,4209.8 8.8 7.7 19.1 16.6 20.0 1.0 0.821.0 Median 87 % 11.6 x 11.0 x 9.7 x 19.6 x 17.0 x 15.0 % 1.3 x 1.2 x29.5 % Mean 86 12.5 11.8 10.5 21.5 18.8 16.0 1.4 1.232.1 Advertising Omnicom Group $ 101.25100 % $ 17,731 $ 20,02211.7 x 12.0 x 11.0 x 20.3 x 18.1 x 12.0 % 1.7 x 1.5 x15.6 % WPP Group 12.5894 16,272 18,73610.6 10.3 9.6 16.4 14.7 10.0 1.6 1.516.1 Publicis Groupe 37.4688 8,736 8,6777.5 8.2 7.8 15.9 14.6 3.0 5.3 4.921.9 Interpublic Group 10.5995 4,668 6,228NM 17.4 9.5 NM 46.0 10.0 NA 4.6 NM Havas 4.8191 2,062 2,66810.6 11.8 10.1 27.6 19.9 6.5 4.3 3.113.6 Median 94 % 10.6 x 11.8 x 9.6 x 18.3 x 18.1 x 10.0 % 3.0 x 3.1 x15.9 % Mean 94 10.1 12.0 9.6 20.0 22.7 8.3 3.2 3.116.8 Publishing News Corp $ 20.9099 % $ 66,703 $ 72,62815.6 x 14.2 x 12.7 x 22.4 x 19.0 x 18.0 % 1.2 x 1.1 x18.3 % Thomson Corporation 41.1297 26,450 30,74514.3 12.2 11.3 24.5 22.2 13.5 1.8 1.624.0 McGraw-Hill 65.49100 24,329 24,80013.9 15.1 13.5 26.2 23.0 12.5 2.1 1.828.9 Wolters Kluwer 27.5298 8,453 9,71714.2 10.8 9.3 17.9 14.9 9.0 2.0 1.715.2 Median 98 % 14.2 x 13.2 x 12.0 x 23.4 x 20.6 x 13.0 % 1.9 x 1.7 x24.0 % Mean 98 14.5 13.1 11.7 22.7 19.8 13.2 1.8 1.623.8

Valuation Update10

Illustrative Discounted Cash Flow Analysis Valuation Date November 6, 2006 ($ in millions, except per share data)

As of 31-December

2006 2007 2008 2009 2010 2011 Sales $ 454.1 $ 498.8 $ 526.2 $ 555.2 $ 585.7$ 617.9 EBIT 110.1 119.7 128.9 141.5 155.0 166.3 Taxes1 41.9 45.5 49.0 53.8 58.9 63.2

D&A $ 42.7 $ 48.9 $50.0 $ 50.0 $ 50.0 $ 50.0 Change in Working Capital 0.0 (5.0) 1.2 1.3 1.4 1.4 Capex 117.0 55.0 50.0 50.0 50.0 50.0

Unlevered Free Cash Flow $ (6.0) $ 63.2 $81.1 $ 89.1 $ 97.5$ 104.5 Adjustment to year 12 2.0 Unlevered Free Cash Flow (3.9) 63.2 81.1 89.1 97.5 104.5 PV of Cash Flow (3.9) 59.5 69.7 69.9 69.9 68.4

Discounted Cash Flow            Assumptions Value of FCF $ 333.3 Projections 5 Management Terminal Value 1,216.8 Colorprint WACC 9.5 % PV of FCF’s 1,550.1 Change in Working Capital 5 Management Tax Rate 1 38.0 % Net Debt3 $ 79.3 Terminal LTM EBITDA Multiple 9.0 x Equity Value 1,470.8 Diluted Shares Outstanding4 48.0 Valuation as of 6-Nov-06 Implied Share Price $ 30.61

Valuation Update11

Illustrative DCF Sensitivities

Terminal LTM EBITDA Multiple $ 0.08.0 x 8.5 x 9.0 x 9.5 x 10.0 x

Discount 8.0 %$ 29.86 $ 31.19 $ 32.51 $ 33.84 $ 35.16 Rate 9.0 %28.72 29.98 31.24 32.51 33.77 10.0 %27.63 28.84 30.04 31.25 32.45

Implied Share Price            Implied Share Price

Incremental YOY Increase in Revenue Growth1 Incremental EBITDA Margin Increase2 $ 0.0(2.0)% (1.0)% 0.0 % 1.0 % 2.0 % $ 0.0 (2.0)% (1.0)%0.0 % 1.0 % 2.0 %

Discount 8.0 %$ 30.05 $ 31.26 $ 32.51 $ 33.83 $ 35.20 8.0 %$ 30.54$ 31.52$ 32.51 $ 33.50 $ 34.49 Rate 9.0 %28.89 30.04 31.24 32.50 33.81 9.0 % 29.34 30.2931.24 32.20 33.15 10.0 %27.79 28.89 30.04 31.25 32.50 10.0 % 28.21 29.1330.04 30.96 31.87

Selected Precedent Transactions Since 2003 ($ in millions)

LTM Multiples Date            Target            Acquiror            Levered Value Sales            EBITDA            EBIT            Consideration Announced Sep-06 CPC            ADS $ 70NA            NA 14.0 x Cash Jul-06ADVO            Valassis 1,3160.9 9.1x / 12.6x ¹21.6 Cash Aug-06 PRIMIS            Parthenon Capital 115 NA 8.0 NACash Feb-06 Doubleclick Email            ADS 902.3 10.0 NACash Jan-06 Clarity Blue            Experian 188 ²3.3 NA 20.0 Cash Jan-06 VNU NV            Valcon Acquisition 11,5662.2 11.3 19.0 Cash Sep-05 Bigfoot Interactive            ADS 1204.0 14.0 NACash Aug-05 Communications Group            WPP Group plc 68 NA            NA            NACash Jul-05Cendant Marketing Services Division            Apollo 1,8251.4 8.2 10.5 Cash Mar-05 Digital Impact Inc. Acxiom 115 NA            NA            NACash Mar-05 Tampa Flyer            Harte Hanks 60 NA            NA            NACash Apr-05 DoubleClick            Hellman & Friedman 8052.0 13.4 37.1 Cash Oct-04 Epsilon Data Management            ADS 3002.5 12.5 NACash Sep-04 Grey Global Group            WPP Group plc 1,5200.9 17.2 NACash/Stock Jul-04Seisint, Inc. Reed Elsevier 7756.7 17.2 NACash Jun-04 Information Holdings            Thomson Corp. 4415.4 NA            NACash May-04 TradeWeb            Thomson Corp. 535 NA            NA            NACash Apr-04 OneSource Information Services            infoUSA Inc 851.5 NA 18.6 Cash Apr-04 Direct Group            Investor Group 50 NA            NA            NACash Aug-03 INFO1 LandAmerica Finl Group Inc 47 NA            NA            NACash Aug-03 Peter Black Direct            Merck 25 NA            NA             NACash Marketing Jun-03 Factual Data Corp            Kroll Inc 1131.6 NA 7.3 Cash/Stock Jun-03 Cordiant Communications            WPP Group plc 3310.7 6.5 NACash May-03 Tele-V            National Mgmt Consulting 42 NA            NA            NACommon Stock May-03 Mosaic Sales Solutions            JLL Partners 76 NA            NA            NACash May-03 NFO WorldGroup            Taylor Nelson Sofres 4350.9 8.3 11.6 Cash Apr-03 Insurance Mgmt Solutions Group            Fiserv Inc 411.4 NM            NMCash Mar-03 Scorex            Experian 1112.4 NA            NACash Feb-03 Zenith Optimedia            Publicis Groupe SA 119 NA            NA            NAUndisclosed Jan-03 Nordic Info Group A/S            Experian 1423.0 8.2 15.2 Cash Median 2.1 x 11.3 x 16.9 x

Valuation Update13

Comparison of Selected Premiums 100% Cash Consideration, Last 3 Years1 ($ in millions) Premium Announced            Target            Acquiror            Equity Value 1 Day 1 Week 4 Weeks 11/06/06 Per-Se            McKesson Corp $ 1,095 14.5 % 16.5 % 19.3 % Technologies 08/23/06 Internet Sec Sys Group IncIBM Corp 1,303 7.7 8.2 16.9 08/10/06 FileNet Corp            IBM Corp 1,557 1.0 4.0 29.1 07/09/06 Heritage Ppty Invest            Centro Properties Group 1,753 3.3 3.5 3.6 Trust Inc 05/14/06 SSA Global Technologies Infor Global Solutions 1,529 25.1 24.0 25.8 Inc 05/01/06 Aviall Inc            Boeing Co 1,716 27.3 28.7 27.2 04/27/06 Diagnostic Products Corp Siemens Medical Solutions Inc 1,767 20.7 17.7 24.5 04/25/06 Serologicals            Millipore Corp 1,389 35.3 34.3 33.1 Corp 04/20/06 Ubiquitel Inc            Sprint Nextel Corp 1,035 1.6 1.9 3.1 01/22/06 Sports            Investor Group 1,021 20.0 26.0 20.8 Authority Inc 11/20/05 Beverly Enterprises Inc Fillmore Capital Partners LLC 1,593 33.3 35.9 36.8 11/10/05 SERENA Software Inc            Silver Lake Partners 1,026 2.7 7.3 24.4 11/08/05 Linens n            Investor Group 1,295 7.9 14.9 17.0 Things Inc 10/24/05 Amli Residential Ppty            Prime Property Fund 1,177 20.7 22.7 19.1 Trust 10/16/05 Adv Neuromodulations Sys St Jude Medical Inc 1,369 30.4 22.8 21.8 Inc 09/29/05 IDX Systems            GE Healthcare Ltd 1,488 25.1 33.6 38.8 Corp 09/15/05 UICI            Investor Group 1,719 19.1 17.1 19.9 08/04/05 Metris Cos Inc            HSBC Finance Corp 1,575 1.1 0.5 3.2 07/21/05 Priority Healthcare Corp Express Scripts Inc 1,252 7.7 9.3 10.7 07/10/05 US Unwired Inc            Sprint Corp 1,072 1.5 4.3 24.3 06/16/05 Vicuron Pharmaceuticals Pfizer Inc 1,916 84.2 78.6 68.4 Inc 06/13/05 Commercial            Bank of the West,CA 1,367 34.1 34.8 36.1 Federal,Omaha,NE 06/07/05 Gables Residential Trust Investor Group 1,272 14.1 19.5 17.1 05/16/05 Overnite Corp            UPS 1,220 46.2 35.8 42.7 05/12/05 Cuno Inc 3M Co 1,290 31.3 34.7 36.8 04/21/05 Transkaryotic Therapies Shire Pharmaceuticals Grp PLC 1,384 21.6 38.1 55.5 Inc 03/14/05 Ascential Software Corp IBM Corp 1,121 17.8 17.0 16.8 01/31/05 Pulitzer Inc            Lee Enterprises Inc 1,432 1.8 (1.5) (0.9) 01/27/05 Genencor International IncDanisco A/S 1,151 23.9 22.4 15.8 11/24/04 Ionics Inc            GE Infrastructure Inc 1,072 47.9 43.0 52.5 11/03/04 Argosy Gaming            Penn National Gaming Inc 1,408 16.4 11.1 17.8 Co 10/20/04 Boca Resorts            Blackstone Real Estate Advisor 1,031 27.9 30.7 31.1 Inc 10/19/04 Robert Mondavi Corp             Constellation Brands Inc 1,030 49.9 52.3 50.9 10/18/04 Select Medical            EGL Holding Co 1,983 26.6 27.8 39.3 Corp 09/29/04 Orbitz Inc            Cendant Corp 1,229 34.5 33.8 48.4 07/13/04 National Processing Inc Bank of America Corp 1,425 (9.5) (8.0) (8.8) 05/24/04 NeighborCare            Omnicare Inc 1,410 96.7 94.4 44.2 Inc 05/24/04 WFS Financial            Westcorp,Irvine,CA 1,940 3.5 6.2 5.1 Inc 05/19/04 ALARIS Medical Systems IncCardinal Health Inc 1,743 18.4 11.6 17.8 05/18/04 Kroll Inc            Marsh & McLennan Cos Inc 1,958 32.4 32.9 34.6 03/22/04 US Oncology Inc            Welsh Carson Anderson & Stowe 1,302 18.5 20.3 17.3 03/15/04 InVision Technologies Inc GE Infrastructure Inc 1,159 21.3 23.3 31.3 01/13/04 TheraSense Inc            Abbott Laboratories 1,243 33.0 35.5 50.0 12/21/03 Esperion Therapeutics Inc Pfizer Inc 1,281 54.2 52.8 57.6 Median—100% Cash 21.0 % 22.7 % 24.4 % Transactions

1. Includes equity values between $1 billion and $2 billion over last three years. US public company targets only.

Valuation Update 14

III. Strategic Alternatives

Colorprint Summary Financials ($ in millions) For FY Ended 31-Mar            For FY Ending 31-Dec 2002 ¹ 2003 2004 2005 2006 2006E 2007E Income Statement Net revenues $ 367.9 $ 383.8 $ 408.6 $ 410.1 $ 417.7 $ 454.1 $ 498.8 % YOY growth 8.2 % 4.3 % 6.5 % 0.3 % 1.9 % NA 9.8 % EBITDA $ 136.5 $ 127.0 $ 143.4 $ 151.2 $ 150.2 $ 152.8 $ 168.7 % YOY growth 9.1 % (6.9)% 12.9 % 5.5 % (0.7)% NA 10.4 % % EBITDA margin 37.1 33.1 35.1 36.9 35.9 33.7 33.8 Operating income $ 95.6 $ 86.1 $ 98.1 $ 108.8 $ 114.2 $ 110.1 $ 119.7 % YOY growth 17.3 % (9.9)% 13.9 % 10.9 % 4.9 % 9.0 % 8.7 % % Operating margin 26.0 22.4 24.0 26.5 27.3 24.2 24.0 Net Income from Operations $ 66.6 $ 51.6 $ 60.4 $ 68.6 $ 71.6 $ 68.1 $ 69.3 % YOY growth 19.8 % (22.6)% 17.1 % 13.6 % 4.4 % 3.2 % 1.6 % Diluted EPS $ 1.17 $ 0.94 $ 1.15 $ 1.31 $ 1.46 $ 1.46 $ 1.50 % YOY growth 21.5 % (19.5)% 22.9 % 13.5 % 11.7 % 11.1 % 3.2 % Diluted Shares Outstanding 57.1 54.9 52.3 52.4 48.9 46.8 46.1 Balance Sheet Total assets $ 415.9 $ 422.4 $ 386.8 $ 392.7 $ 337.1 NA NA Cash & securities ² 13.7 1.772.7 116.2 28.1 32.2 NA Debt ² 60.9 68.2 66.964.6 61.9 111.6 NA Shareholders equity ² 223.3 216.0 184.7 196.4 143.2 164.7 NA Selected Data ROACE 32.8 % 23.5 % 30.1 % 36.0 % 42.2 % 37.1 % NA Debt / Total Capital 21.4 24.0 26.6 24.8 30.2 40.4 NA Debt / EBITDA 0.4 x 0.5 x 0.5 x 0.4 x 0.4 x 0.7 x NA Free Cash Flow $ 73.3 $ 64.7 $ 96.3 $ 85.6 $ 42.6 $(6.0) $ 63.2 Strategic Alternatives 16

Grey Page

Strategic Alternatives 17

Illustrative Leveraged Recapitalization Analysis Assumptions

Transaction Assumptions            Financing Assumptions / Indicative Terms Transaction as of 31-Dec-2006 •|_|•|_||_||_||_|[Pisces]|X|• [Pisces]•••[Scorpio]• [Libra][Scorpio][Leo]• •|_| [Sagittarius]•|X|[Libra] •[Aqueous][Cancer]|_|[Scorpio] [Leo]•|^|[Leo][Cancer][Virgo]& EBITDA of $153mm for 12 months ending 12/31/06 *[Scorpio][Sagittarius][Pisces]|X|[Cancer]|X|[Virgo][Scorpio] $111.6mm of existing debt 38% tax rate *[Cancer]|X| [Sagittarius]|_|•|_| •[Virgo][Scorpio]|X|[Cancer]|_|[Pisces]|_|• Issuance size $150mm $200mm $300mm $400mm Buyback Amount $35mm $84mm$182mm $280mm Buyback as % of Market Cap 2.9% 6.8% 14.4% 21.7% Cost of Debt            L + 100L + 150 L + 150 L + 175 Roll-Forward Assumptions            Pro Forma Credit Rating            BB / Ba2 BB / Ba2BB / Ba2 BB- / Ba3 2007 based on management projections Pro-Forma 2006 Debt / EBITDA 1.0x1.3x 2.0x 2.6x Assumes 5.5% revenue growth from 2008-2011

Assumes gradual increase in EBITDA margin from 33.8% in 2007E to 35.0% in 2010

— Targets bottom-line growth in low double digits

Assumes Capex of $50mm for 2008-2011

Assumes 2008-2011 D&A equal to Capex

Assumes            pre-tax standalone interest expense of $8mm

Strategic Alternatives18

Illustrative Leveraged Recapitalization Analysis Sensitivity Analysis ($ in millions, except per share amounts)

$150mm Debt Issuance and $35mm Buyback1 (L + 100bps) $200mm Debt Issuance and $84mm Buyback ¹ (L + 150bps) IRR Sensitivity            IRR Sensitivity Per Share Repurchase Price            Per Share Repurchase Price 10% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 11% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 x 10.3% 10.2% 10.2% 10.1% 10.1% 8.0 x 11.3% 11.1% 11.0% 10.9% 10.8% 2011 EBIMulti9.0 12.8% 12.8% 12.7% 12.7% 12.6%2011 Mult9.0e 13.9% 13.7% 13.6% 13.5% 13.4% EBITDA 10.0 15.2% 15.1% 15.1% 15.0% 15.0% 10.0 16.2% 16.1% 16.0% 15.8% 15.8% 2007 EPS Accretion / (Dilution) 2007 EPS Accretion / (Dilution) Per Share Repurchase Price            Per Share Repurchase Price 283% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 315% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 % 3.1 % 2.9 % 2.6 % 2.4 % 2.3 % 8.0 % 4.0 % 3.4 % 2.8 % 2.3 % 1.9 %

$ 300mm Debt Issuance and $182mm $ 400mm 280mm Buyback ¹ (L + 150bps) Debt            Buyback ¹ Issuance (L and + $ 175bps) IRR Sensitivity            IRR Sensitivity Per Share Repurchase Price            Per Share Repurchase Price 13% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 14% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 x 13.5% 13.1% 12.9% 12.6% 12.4% 8.0 x 15.1% 14.5% 14.0% 13.5% 13.2% 2011 EBIMulti9.0 16.1% 15.8% 15.5% 15.2% 15.0%2011 Mult9.0e 17.9% 17.2% 16.7% 16.3% 15.9% EBITDA 10.0 18.5% 18.2% 17.9% 17.6% 17.4% 10.0 20.4% 19.8% 19.3% 18.8% 18.4% 2007 EPS Accretion / (Dilution) 2007 EPS Accretion / (Dilution) Per Share Repurchase Price            Per Share Repurchase Price 498% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $ 32.00 559% $ 24.00 $ 26.00 $ 28.00 $ 30.00 $32.00 8.0 % 7.6 % 6.0 % 4.6 % 3.5 % 2.5 % 8.0 % 10.8 % 8.0 % 5.6 % 3.7 % 2.1 %

1 Includes refinancing of $111.6mm of existing debt.

Strategic Alternatives 19

Illustrative Leveraged Recapitalization Analysis Earnings per Share Impact ($ in millions, except per share amounts) CY 2007 EPS Impact Debt Issued $ 150.0 $ 200.0 $ 300.0 $ 400.0 Less: Refinanced Debt 111.6 111.6 111.6 111.6 Equity Repurchased 35.4 84.4 182.4 280.4 Pre-Tax Cost of Debt 6.20 % 6.70 % 6.70 % 6.95 % Assumed Repurchase Premium 5.0 % 7.5 % 10.0 % 12.5 % Shares Repurchased 1.4 3.2 6.7 10.0 % of Shares Outstanding 2.9 % 6.8 % 14.4 % 21.7 % Accretion / (Dilution) Standalone 2007E Net Income $ 69.3 $ 69.3 $ 69.3 $ 69.3 Less: Incremental After-tax Interest Expense (0.1) (2.7) (7.0) (12.0) Pro Forma 2007E Net Income $ 69.1 $ 66.6 $ 62.2 $ 57.3 Avg. Fully Diluted Shares Outstanding 46.1 46.1 46.1 46.1 Less: Shares Repurchased (1.4) (3.2) (6.7) (10.0) Pro Forma Avg. Fully Diluted Shares Outstanding 44.7 42.9 39.4 36.1 Standalone 2007E EPS $ 1.50 $ 1.50 $ 1.50 $ 1.50 Pro Forma 2007E EPS 1.55 1.55 1.58 1.59 Accretion / (Dilution) 2.8 % 3.1 % 5.0 % 5.6 % Strategic Alternatives 20

Illustrative Leveraged Recapitalization Analysis Potential Share Price Appreciation ($ in millions, except per share data) 2007 — Pro Forma Share Price (PV) 2008 — Pro Forma Share Price (PV) Debt Issued $ 150 $ 200 $ 300 $ 400 $ 150 $ 200 $ 300 $ 400 Pro Forma EPS $ 1.55 $ 1.55 $ 1.58 $ 1.59 $ 1.72 $ 1.74 $ 1.78 $ 1.81 Forma 18.0 x $ 27.81 $ 27.90 $ 28.39 $ 28.55 Forma 16.0 x $ 27.55 $ 27.81 $ 28.52 $ 28.99 P/E 19.0 29.36 29.44 29.97 30.14 P/E 17.0 29.27 29.54 30.30 30.80 Pro            Pro 20.0 30.90 30.99 31.54 31.73 18.0 31.00 31.28 32.08 32.62 Appreciation from Current            Appreciation from Current Forma 18.0 x 11.6 % 11.9 % 13.9 % 14.5 % Forma 16.0 x 10.5 % 11.5 % 14.4 % 16.3 % P/E 19.0 17.8 18.1 20.2 20.9 P/E 17.0 17.4 18.5 21.5 23.6 Pro            Pro 20.0 23.9 24.3 26.5 27.3 18.0 24.3 25.5 28.7 30.8

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Illustrative LBO Analysis (Based on a 25% premium to 6-Nov-06 close of $24.93; Transaction Close 12/31/06) Sources and Uses 4.58x Senior Debt; 6.55x Total Debt LTM 12/31/2006 Sources % Cap EBITDA ($153mm) Pricing Uses $150mm Revolver $0.0 0%0.0 x Purchase Equity $1,500.9 Term Loan B 700.0 43% 4.6 x L+275 Refinance Existing Debt ¹ 111.6 Total Sr. Secured Debt $700.0 43% 4.6 x Estimated Fees/ Expenses 32.4 5 Year Zero 125.0 8% 0.8 x 11.0% area Senior Subordinated Debt 175.0 11% 1.1 x 10.0% area Total Debt $1,000.0 61% 6.5 x Equity Contribution 644.9 39% 10.8 x Total Sources $1,644.9 100% 10.8 x Total Uses $1,644.9 Strategic Alternatives 23

Illustrative LBO Returns Analysis Returns at Various Exit Dates – Assumes 6.55x Leverage, Exit at 9x LTM EBITDA Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 1230% 10.0%15.0% 20.0%25.0% 30.0%35.0% 2010 22.5 % 18.2 % 14.5 % 11.3 % 8.6 % 6.1 % Exit Date 2011 21.2 17.8 14.8 12.3 10.0 8.0 2012 20.2 17.3 14.9 12.8 10.9 9.2 Returns at Various Exit Multiples – Assumes 6.55x Leverage Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 12% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% EBITDA Multiple 8.0x 16.3 % 13.0 % 10.1 % 7.7 % 5.6 % 3.6 % 8.5x 18.8 15.5 12.6 10.1 7.9 5.9 9.0x 21.2 17.8 14.8 12.3 10.0 8.0 2011 Exit 9.5x 23.4 19.9 16.9 14.3 12.0 10.0 10.0x 25.4 21.9 18.8 16.2 13.9 11.8 Returns at Various Leverage Levels – Assumes Exit at 9x 2011 LTM EBITDA Entrance Premium to Current Stock Price $ 27.42 $ 28.67 $ 29.92 $ 31.16 $ 32.41 $ 33.66 12% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% EBITDA 5.0x 16.6 % 14.4 % 12.4 % 10.6 % 8.9 % 7.4 % 5.5x 17.8 15.3 13.0 11.0 9.2 7.6 Debt / at Close 6.0x 19.2 16.3 13.8 11.6 9.6 7.8 LTM 6.5x 21.0 17.6 14.7 12.2 10.0 8.0 7.0x 23.4 19.3 15.9 13.0 10.5 8.3 Strategic Alternatives 24

Base Case for Illustrative LBO Analysis 1

in millions) ($

Pro Forma            FY Ended December 31, ($ in millions) LTM 12.31.06 2007E2008E 2009E 2010E 2011E OPERATIONAL DATA Total Sales $ 454.1$ 498.8$ 526.2$ 555.2$ 585.7$ 617.9 growth 9.8% 5.5% 5.5% 5.5% 5.5% EBITDA 152.8 168.7 178.9 191.5 205.0 216.3 margin 33.6% 33.8% 34.0% 34.5% 35.0% 35.0% $ 110.1$ 119.7$ 128.9$ 141.5$ 155.0$ 166.3 EBIT Total Interest Expense 87.9 87.5 86.1 84.5 82.0 78.3 Net Income (Loss) to Common 20.0 26.6 35.3 45.3 54.6 SELECTED CASH FLOW DATA: Adjusted EBITDA $ 152.8$ 168.7$ 178.9$ 191.5$ 205.0$ 216.3 +/-Changes in Working Capital 0.0 (5.0) 1.2 1.3 1.4 1.4 — Total Capital Expenditures (117.0) (55.0) (50.0) (50.0) (50.0) (50.0) = Operating Cash Flow 35.8 108.7 130.2 142.8 156.4 167.7 — Cash Taxes (8.4) (12.2) (16.3) (21.7) (27.7) (33.4) — Cash Interest Expense (net) (87.9) (84.8) (69.2) (66.1) (61.8) (56.1)

= Cash for Debt Service (60.6) 11.7 44.7 55.1 66.9 78.2 Cumulative Cash for Debt Service 11.7 56.3 111.4 178.3 256.5

CAPITALIZATION: $ 15.0$ 15.0$ 15.0$ 15.0$ 15.0$ 15.0 Cash Bank Revolver $ 0.0 $ 0.0$ 0.0 $ 0.0$ 0.0 $ 0.0 Term Loan B 700.0 688.3 643.7 588.6 521.7 443.5 Total Bank Debt $ 700.0$ 688.3$ 643.7$ 588.6$ 521.7$ 443.5 Senior Subordinated Debt 175.0 175.0 175.0 175.0 175.0 175.0 5 Year Zero 125.0 125.0 139.1 154.9 172.4 191.8 Total Debt $ 1,000.0$ 988.3$ 957.8$ 918.4$ 869.0$ 810.3 Shareholders’ Equity 644.9 664.8 691.4 726.8 772.0 826.6 Total Capitalization 1,644.9 1,653.2 1,649.2 1,645.2 1,641.1 1,636.9

CREDIT STATISTICS: EBITDA / Senior Interest 2.9x 3.2x 3.5x 3.9x 4.6x 5.6x EBITDA / Total Interest 1.7x 1.9x 2.1x 2.3x 2.5x 2.8x (EBITDA – Capex) / Total Interest 1.7x 1.3x 1.5x 1.7x 1.9x 2.1x Senior Debt / Adj. EBITDA 4.6x 4.1x 3.6x 3.1x 2.5x 2.1x Total Debt / Adj. EBITDA 6.5x 5.9x 5.4x 4.8x 4.2x 3.7x Free Cash Flow / Total Debt (6.1)% 1.2 % 4.7 % 6.0 % 7.7 % 9.7 % Total Debt / Total Capitalization 60.8 59.8 58.1 55.8 53.0 49.5

1 Based on management projections. Management projections have not yet been reviewed by Colorprint’s board.

Strategic Alternatives 25

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Potential Counterparties ($ in millions) Credit Company            Financial Information            Rating            Management            Comments / Recent Developments Highly publicized statements regarding interest in developing Internet channel Market cap: $66,703 through acquisition ($2+ billion) Cash: $5,783 Moody’s: Departure of Lachlan Murdoch likely to Debt: $11,427 Baa2 CEO: Rupert Murdoch impact status of further discussions with S&P: BBB CFO: David F. DeVoe Colorprint 2007 P/E: 19.0x Fitch: BBB $6 billion of cash on balance sheet and EV / EBITDA: 15.6x aggressive in acquisition settings for the right asset Market cap: $2,096 Not historically an aggressive acquirer Cash: $35 Cash offer at a premium would stretch balance sheet Debt: $167 CEO: Richard Hochhauser N / A 3Q earnings fell 3.8% versus prior year CFO: Dean Blythe period, coming in below analyst estimates 2007 P/E: 16.9x EV / EBITDA: 10.1x Announced $1.3bn all-cash acquisition of ADVO in Jul 2006 Market cap: $723 On Aug 30, the company filed action to Cash: $87 rescind merger agreement due to Debt: $260 Moody’s: Ba1 CEO: Alan F. Schultz misrepresentation and material adverse S&P: BB CFO: Robert L. Recchia changes in ADVO’s business 2007 P/E: 10.1x Dispute between Valassis and ADVO EV / EBITDA: 6.5x ongoing Downgraded from Baa3 by Moody’s 30-Oct-06 Company recently acquired by Valcon Market cap NA Acquisition (private equity consortium including Blackstone, Carlyle, KKR, TH Cash: $5901 Lee, H&F and Alpinvest) for equity value of Debt: ~$7,9001 Moody’s: B2 CEO: David L. Calhoun $9.6bn S&P: B CFO: Rob A. Ruijter Has remained strategically active, recently 2007 P/E: NA proposing to acquire remaining public EV / EBITDA: NA stake in subsidiary NetRatings and selling stake in Solucient to Thomson 1Based on 29-Sep-2006 earnings press release. Figures reported in euros; assumes exchange rate of 1.2x. Strategic Alternatives 27

Ability to Pay Analysis – 2007 EPS Breakeven Key Assumptions Deal closes on December 31, 2006 Median IBES 2007E EPS estimates used for all potential buyers Management 2007E EPS estimate used for Colorprints IBES EPS estimates calendarized to December 31 year-end for all companies Pre-tax synergies of 15% of Colorprint LTM September 2006 selling, general and administrative expenses ($151mm) 50% phased in 2007 20% of excess purchase price allocated to identifiable intangibles, and remaining to goodwill Identifiable intangibles amortized on a straight line basis over 8 years (tax deductible) Pre-tax cost of debt as follows: 50% Cash 100% Cash News Corp 5.00% 5.00% Valassis 7.00% 8.00% Harte Hanks 6.25% 7.00% Tax rate of 35% Strategic Alternatives 28

Breakeven Ability to Pay Analysis 100% Stock Transaction $28.00 Current Price = $24.93 $25.00 $25.00 $22.80 $22.00 Price per Share $19.00 $16.00 $14.89 $13.00 $10.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.3x 0.5x 1.3x POS PF Ownership 1.7% 33.8% 49.1% 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 29

Breakeven Ability to Pay Analysis 50% Stock / 50% Cash Transaction $30.00 $28.81 Current Price = $24.93 $27.50 $25.95 $25.00 Price per Share $22.50 $20.00 $19.40 $17.50 $15.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.5x 2.1x 2.9x POS PF Ownership 1.0% 22.5% 39% 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 30

Breakeven to Pay Analysis 100% Cash Transaction $40.00 $35.00 $33.95 Current Price = $24.93 $30.00 $27.55 $25.15 Price per Share $25.00 $20.00 $15.00 $10.00 News Corp            Harte Hanks            Valassis Mkt Cap $66,703 $2,096 $723 2007E P/E 19.0x 16.9x 10.1x Current Ratings            Baa2 / BBB            N/A            Ba1/BB PF Debt/LTM EBITDA1 2.7x 4.0x 5.5x 1EBITDA figures exclude impact of FAS 123 R. Strategic Alternatives 31

Appendix A: Financial Sponsors Profiles

Hellman and Friedman Current Fund Size: $3.5 billion Overview            General Partners Hellman & Friedman LLC, founded in 1984, is a private equity investment firm well respected for its Matthew Barger            John (Jack) Bunce, Jr. distinctive investment philosophy and approach. H&F’s offices are located in San Francisco, London, and New York. H&F raised our first institutional private equity fund in 1987. During its 18-year investing history, H&F has raised and managed over $8 billion of committed capital and have invested in over 50 Mitchell Cohen            Jeffrey Goldstein companies. H&F is currently investing its fifth fund, Hellman & Friedman Capital Partners V, L.P. (HFCP V), with $3.5 billion of committed capital, which was activated in August 2004. Philip Hammarskjold            Patrick Healy H&F’s objective is to invest long-term equity capital to support the strategic and financial objectives of outstanding management teams operating businesses with defensible positions in growing markets. Warren Hellman            Georgia Lee Over its lifetime, H&F has distinguished ourselves as a flexible source of capital and a value-added partner. Brian Powers            Thomas Steyer H&F’s team consists of 30 investment professionals, including 13 managing directors with an average tenure with the Firm of 12 years. This allows H&F to spend substantial time working with the companies Allen Thorpe            David Tunnell in which it invests. Limited partner investors in H&F’s funds include many of the largest U.S. and international corporate            Frank Zarb            pension funds, U.S. state pension funds, university endowments and foundations. And, in HFCP V, H&F (the partners of the firm) collectively are one of the largest limited partners. Selected Investments Company            Description Blackbaud            Blackbaud is the leading provider of software and related services to the not-for-profit vertical market. In October 1999, HFCP III purchased a controlling interest in Blackbaud and is working with management to transition the company to its next phase of growth. Blackbaud, which currently sells mission-critical fundraising, accounting and school administration software and services, has realized dynamic growth over the last five years and now has an installed base of over 12,000 customers worldwide. Blackbaud executed an initial public offering in July 2004 on the NASDAQ DoubleClick DoubleClick is the leading provider of technology and data solutions for advertising agencies, web publishers, marketers, and catalogers to plan, execute and analyze their marketing programs. DoubleClick’s marketing solutions — - online advertising, search engine and affiliate marketing, email marketing, database marketing, and data management — - help clients yield the highest return on their marketing dollar. DoubleClick Inc. has global headquarters in New York City and maintains 21 offices around the world. In July 2005, Click Holding Corp., a subsidiary of Hellman & Friedman LLC and JMI Equity, acquired DoubleClick in a transaction valued at approximately $1.1 billion Mitchell International Mitchell International, established in 1946, is a l eading provider of information software, print publications and total business solutions to the insurance and automotive collision repair industries. In April 2000, HFCP IV acquired Mitchell from the Thomson Corporation. The Company’s products and services range from the assessment and estimation of vehicle damage to comprehensive data mining tools and complete collision shop management systems. The Nasdaq Stock Market The Nasdaq Stock Market is one of the world’s leading stock markets, operating an electronic, screen-based equity market that lists more companies and has more trading activity than any other stock market in the world. In May 2001, HFCP IV invested $240 million to purchase convertible subordinated debentures representing an approximate 15% ownership interest in Nasdaq. With this investment, H&F was the first outside shareholder of Nasdaq interested solely in maximizing the value of the equity and helped Nasdaq transition from a membership-owned organization to a public corporation. In April 2005, HFCP IV entered into a follow-on investment in Nasdaq to support its acquisition of INET Vertafore, Inc            Vertafore, Inc. is a leading provider of specialized software, services and information for the property and casualty insurance industry. In 2004, HFCP V acquired controlling interest of Vertafore in a proprietary, non-intermediated transaction. During its thirty year history, Vertafore has become the management system and information source to over 15,000 independent agencies, 120,000 end-users, and 300 insurance carriers through four principal operating entities: AMS Services, SilverPlume, AMS Rackley, and Allenbrook. Financial Sponsors Profiles 33

Carlyle Group Fund Size: $7.85 billion Overview            Key Principals Manages over $18.3 billion in capital across 23 funds            Chairman: Senior Director: Focus: defense, aerospace, healthcare, telecommunications, media, industrial and            Louis V. Gerstner, Jr. Julian Browne            Richard G. Darman government-related investments Robert Coxon            Louis J. Guiliano Pursues situations where there is a high degree of regulatory, business, legal, and industry            Founding Partners: Wilfred A. Finnegan            Arthur Levitt complexity Daniel A. D’Aniello            Kent Kresa            Thomas F. McLarty Targets equity investments between $100 — $400 million            William E. Conway            Duncan Lewis David L. Squier Joint venture with Riverstone to make E&P investments ($1.1 bn fund) David M. Rubenstein            Charles O. Rossotti Based in Washington D.C. Thomas A. Corcoran Other offices located in Barcelona, Charlotte, Dallas, Frankfurt, Hong Kong, London, Milan, Senior Counselor: Moscow, Munich, New York, Paris, Riyadh, San Francisco, Seoul, Singapore, and Tokyo            James Baker, III Selected Investments Company            Stake Description American Bottling Company            Divested            Independent bottler of carbonated soft drinks and new age beverages in the US Connecticare            Controlling Partner Independent, regional HMO based in Connecticut Countour Aerospace Controlling Partner Manufactures aerostructure components for commercial and military markets CPU Technology            Controlling Partner Provider of embedded electronic systems using system-on-a-chip SoC technology Dr Pepper/Seven Up Bottling Group Controlling Partner Bottles Dr Pepper and 7 Up for Cadbury Schweppes and RC Cola and Snapple and Triarc Companies Elgar Electronics Corp            Controlling Partner Manufactures power testing and power supply equipment for military and commercial markets Epsilon Data Management Inc. Controlling Partner Provides computer-based marketing services to assist clients in the design and implementation of direct response marketing programs Fairchild Imaging            Controlling Partner Manufactures charged coupled devices (CCD) and electronic imaging systems Forged Metals Inc. Controlling Partner Produces seamless rolled rings and open die forgings for jet engines, land-based turbines, and aerospace applications Fresh Fields Markets            Divested            Operates natural foods grocery chain Gemini Air Cargo Inc. Controlling Partner Global air cargo company that specializes in providing Aircraft, Crew, Maintenance an d Insurance contract cargo services for other airlines Glenmoor Limited            Controlling Partner Owns and operates pipelines Grand Vehicle Works Holdings Inc. Controlling Partner Manufactures vehicle bodies and chassis IInteliStaf Healthcare            Controlling Partner Provider of medical staffing services Kuhlman Electric Corp            Controlling Partner Designs, manufactures and markets a broad range of transformers or electric utility distribution systems Lear Siegler Services Inc. Controlling Partner Provides maintenance, logistics, systems integration and pilot training to the military and to the government agencies Loews Cineplex Entertainment Corp Controlling Partner Operates motion picture theaters primarily in major cities throughout in US, Europe and Eurasia Magellan Midstream            Controlling Partner Storage, transportation, and distribution of refined petroleum products and ammonia Mariner Energy Inc. Controlling Partner Oil and gas exploration and production MedPointe            Controlling Partner Manufactures toiletries, pharmaceuticals and various specialty drugs. JV with Cypress Group Piedmont Hawthorne            Controlling Partner Operator of airport general aviation businesses, commonly called fixed base operations or FBOs Prime Communications            Controlling Partner Operates cable television systems Relizon            Controlling Partner Provider of outsourced business communication services Rexnord            Controlling Partner Manufactures conveying components Standard Aero Limited            Controlling Partner The independent gas turbine engine and accessory repair and overhaul company Stellex Aerostructures            Controlling Partner Provider of subsystems and components for the aerospace, defense and space industries United Components Inc. Controlling Partner Manufactures engineering components and vehicle replacement parts Varsity Group            Minority Interest            College marketing company that offers strategic marketing services and online and offline channels Verizon Hawaii Inc. Controlling Partner Provide range of telecommunications services in Hawaii, throughout the Pacific and Asia Xcelerate. Controlling Partner Internet professional services firm that provides end to end e-commerce business development for their customers Financial Sponsors Profiles 34

Financial Sponsors Profiles 35

Welsh, Carson, Anderson & Stowe Fund Size: $3.5 billion Overview            Selected Partners Founded in 1979, WCAS is a New York based firm that concentrates its            Jonathan M. Rather (Chief Financial Officer) investments exclusively in healthcare, information and business services, and            John Almeida, Jr. (Information & business services and communications) communications industries            Bruce K. Anderson (Information & business services) Invested in over 135 companies in their core industries and have funded over            Russell L. Carson (Healthcare) 650 follow-on acquisitions            John D. Clark (Information & business services and communications) Raised $12 billion in 9 equity funds and three subordinate debt funds            Anthony J. de Nicola (Information & business services and communications) Currently investing $3.5 billion WCAS X equity fund            D. Scott Mackesy (Healthcare) Also investing WCAS Capital Partners IV, L.P., a $1.3 billion dedicated            James R. Matthews (Information & business services and communications) subordinated debt fund            Thomas E. McInerney (Information & business services and communications) Across all partnerships, current portfolio consists of 30 companies with            Robert A. Minicucci (Information & business services) combined revenues of $18 billion and EBITDA of $4 billion            Paul B. Queally (Healthcare) Has completed a number of investments in divisions or subsidiaries of larger            Sanjay Swani (Information & business services and communications) companies, and acquisitions/recapitalizations of public companies. WCAS has Sean M. Traynor (Information & business services and healthcare) created, in several situations, an entirely new administrative, operational and            Patrick J. Welsh (Information & business services) management structure Selected Investments Company            Stake            Description Alliance Data Systems            Controlling Partner Provides customer relationship marketing, data information and transaction services AmeriPath Inc. Controlling Partner Provides anatomic pathology laboratory services Ardent Healthcare Services            Controlling Partner Owner and operator of acute care psychiatric hospitals BancTec Inc. Controlling Partner Provides electronic imaging and document management solutions Centennial Communications Controlling Partner Operates wireless rural telephone systems in US and integrated communication services in the Caribbean Concentra Managed Care Inc. Controlling Partner Provides workers compensation health care services and cost containment services Global Knowledge Network, Inc. Controlling Partner Provides information technology education and training Headstrong, Inc. Controlling Partner Designs and impl ements systems integration products ITC DeltaCom Inc. Controlling Partner            Competitive local exchange carrier in southeastern US MedCath Corp. Controlling Partner Provider of cardiology and cardiovascular services SAVVIS Communications Corp. Controlling Partner Provider of data networking, managed hosting and Internet access services SHPS Inc. Controlling Partner Provider of outsourced employee benefits and care management services United States Investigation Services            Controlling Partner Government and commercial employee background investigative services US Oncology            Controlling Partner Healthcare network dedicated exclusively to cancer treatment and research Valor Telecommunications            Controlling Partner Rural provider of communication services in southeastern U.S. Financial Sponsors Profiles 36

Appendix B: Additional Information Additional Information 37

Research Analysts’ Recommendations and Estimates Analyst Recommendations            Evolution of Estimates1 Strong $2.00 Buy Estimate $1.50 $1.44 13% 2008E Underperform Buy 25% $1.00 $1.25 $1.46 $1.29 13% 2005A 2006A 2007E $1.19 EPS $0.50 2004A Hold $0.00 50% Nov-2003 Jun-2004 Jan-2005 Aug-2005 Mar-2006 Oct-2006 Monthly from 6-Nov-2003 to 06-Nov-2006 Recommendations: 8 2004 2005 2006 2007 2008 Price Targets Individual Analyst Estimates $30.00 Broker Estimate $29.00 Date Rating Growth Estimates CY Ended Dec $28.00 ‘05-’06E ‘06-’07E 5-Yr. ‘06E ‘07E Goldman Sachs 26-Oct-2006 Underperform 6.1% (4.9)% $1.39 $1.32 Current = $24.93 $26.00 Bear, Stearns 01-Nov-2006 Hold 7.6 (4.3) 8.7% 1.41 1.35 $24.62 $25.00 Deutsche Bank 31-Oct-2006 Hold 6.9 10.4 - 1.40 1.55 $24.00 First Analysis Securities 01-Nov-2006 Hold 6.1 2.7 10.0 1.39 $23.00 1.43 $22.00JMP Securities 27-Oct-2006 Underperform 9.2 (1.7) 10.0 1.43 1.41 J.P. Morgan 02-Nov-2006 Buy 9.2 11.4 — 1.43 1.59 $20.00 Robert W. Baird 01-Nov-2006 Hold 5.3 (2.4) - 1.38 1.35 Goldman Robert Deutsche JMP William Blair 26-Oct-2006 Strong Buy 7.6 — 7.0 1.41 - Sachs Baird            Bank Securities            Median 7.3% (0.3)% 9.3% $1.41 $1.40 1Evolution of EPS estimates based on fiscal year-end Mar-31 estimates. Additional Information 38

Management vs. Analysts Estimates ($ in millions, except per share data) CY 2006 Estimates1 EPS            Revenue            EBITDA ³ EBIT            Net Income Avg. Shares Management $ 1.46 $ 454.1 $ 152.8 $ 110.1 $ 68.1 46.8 Goldman, Sachs & Co. 1.39 452.5 NA NA 65.2 46.9 Bear, Stearns & Co. 1.41 449.0 152.4 107.2 65.8 46.7 Deutsche Bank North America 1.40 451.9 153.0 107.9 65.4 46.7 First Analysis Securities Corp 1.39 451.2 150.3 106.3 65.1 46.8 JMP Securities 1.43 452.8 NA 109.4 66.6 46.6 JP Morgan 1.43 NA            NA NA            NA NA Robert W. Baird & Co., Inc. 1.38 456.4 155.7 110.3 64.5 46.7 William Blair & Company, L.L.C. 1.41 450.7 NA NA            NA NA Analyst Median $ 1.41 $ 451.9 $ 152.7 $ 107.9 $ 65.3 46.7 Analyst Range — High to Low 3.6 % 1.6 % 3.6 % 3.7 % 3.3 % 0.7 % CY 2007 Estimates2 EPS            Revenue            EBITDA ³ EBIT            Net Income Avg. Shares Management $ 1.50 $ 498.8 $ 168.7 $ 119.7 $ 69.3 46.1 Goldman, Sachs & Co. 1.32 465.4 147.9 103.0 62.8 47.5 Bear, Stearns & Co. 1.35 479.3 NA 103.3 61.4 45.4 Deutsche Bank North America 1.55 500.2 172.9 123.3 70.2 45.5 First Analysis Securities Corp 1.43 492.2 156.9 113.4 66.7 46.7 JMP Securities 1.41 490.7 NA 104.1 65.4 46.5 JP Morgan 1.59 NA NA            NA NA            NA Robert W. Baird & Co., Inc.1.35 504.0 172.1 124.1 61.9 45.9 William Blair & Company, L.L.C. NA NA            NA NA            NA NA Analyst Median $ 1.40 $ 490.3 $ 157.9 $ 109.1 $ 64.2 46.2 Analyst Range — High to Low 20.4 % 8.3 % 16.9 % 20.5 % 14.5 % 4.4 % Additional Information 39

Colorprint Commentary Analyst            Comments Goldman, Sachs & Co. “Our 12-month price target of ~$25 is derived through blended risk/reward and DCF analyses. In both Simeon Gutman instances, we have given the company credit for notably enhanced CMS top-line growth due to the color printer rollout.” Sell October 26, 2006 “On top of what is already expected to be a difficult fiscal 2007 due to color printer rollout costs and tough comparisons, on today’s conference call management revealed a couple of items that are potential areas for additional concern. First, Catalina’s international division (CMI) is losing two important clients beginning in the first calendar quarter of 2007. Second, of the flagship CMS division’s 8.5% quarterly top-line gain, more than half was driven by new Walgreen and Kmart installations. Third, because of the decay in manufacturer spending as nationally branded drugs go off patent, the ongoing generic boom could temper CHR’s growth in the intermediate-term.” JP Morgan “While F2Q07 came in moderately below expectations, we believe investors will focus on how the Frederick Searby transition to color printers is progressing. Commentary on calendar 2007 selling season likely will be the key issue. Verbiage in the press release suggests it was positive, but we will wait and see. We Buy reiterate our Overweight.” October 26, 2006 “With a clean balance sheet, strong FCF generation, and a sizable potential international opportunity, we like POS’ growth prospects. With eroding traditional media audiences set against ongoing price inflation, clients have to look to cheaper, higher ROI alternative media. Anecdotal evidence suggests that the shift to measured media/direct marketing will accelerate. POS could be the beneficiary of a reallocation of traditional marketing dollars...Trading at 8.4x EV/F2007E EBITDA, we view POS as an attractive investment opportunity....”

Colorprint Commentary Analyst            Comments William Blair & Company “At first look, Catalina reported disappointing second-quarter results. Growth remained strong in the Troy Mastin core business and International, but the Health Resource division was disappointing as a dearth of unusual projects throttled growth.” Strong Buy October 26, 2006 “As expected, cash flow remained weak as the company is building out its color printer initiative. Free cash flow of -$19.1 million reflected $50 million in capital expenditures in the quarter, which helped the company reach an installed base of half of its domestic store base in the quarter.” “The investment and cost ramp associated with growth appears to be higher than we had modeled; however, we are reserving full judgment until after the conference call this morning. Shares will likely fall under some pressure before the call as recent strength has pushed full valuation to 17.6 times 2008 EPS.” Additional Information 41

Peer Beta Calculation Average of Different Beta Sources 5-Year Levered Betas Barra            Bloomberg1 Average Colorprint 0.97 1.19 1.08 Harte Hanks 0.81 0.71 0.76 Acxiom 0.79 1.02 0.91 Valassis 1.56 0.91 1.23 Advo 1.15 0.81 0.98 InfoUSA 1.21 1.19 1.20 Median 1.06 0.97 1.03

Cost of Equity and WACC Analysis ($ in millions) Risk            Cost of            Pre-Tax Effective Risk-Free Premium Equity Beta Equity            Cost of Tax Rate Current Curr. Mkt. Val. Rate1 2 3 4 (t)5 Debt (D)6 of Equity (E)7 WACC (Rp) (Be) (Ke) Debt (Kd) Colorprint8 4.70 % 5.00 % 1.08 10.09 % 6.00 % 40.6 % $ 112 $ 1,169 9.52 % Harte Hanks 4.70 % 5.00 % 0.76 8.51 % 6.03 % 38.6 % $ 167 $ 2,096 8.15 % Acxiom 4.70 5.00 0.91 9.23 6.38 39.0 795 2,265 7.84 Valassis9 4.70 5.00 1.23 10.87 6.23 34.7 260 723 9.07 Advo 4.70 5.00 0.98 9.61 6.50 37.5 144 914 8.85 InfoUSA 4.70 5.00 1.20 10.69 6.20 36.0 137 650 9.52 Median 1.03 9.85 % 8.96 %

Appendix C: Hellman & Friedman Proposal