Five and Under

[bagheera]

OFIS comments?? Turnaround story. merger??

Corporate Express Completes Acquisition of US Office Products' North American Office Products Business


Acquisition Enhances Corporate Express' Leadership Position

In the Business-to-Business Office and Computer Products Market

BROOMFIELD, Colo., May 14 /PRNewswire/ -- Corporate Express, Inc., a Buhrmann company, the world's largest business-to-business supplier of essential office and computer products and services, today announced the closure of its transaction with US Office Products Company (OTC Bulletin Board: OFIS). Under the terms of the transaction, Corporate Express has purchased substantially all of US Office Products' (USOP's) North American office products assets, including certain stand-alone furniture businesses, for a purchase price of $172 million, which includes $12 million under the terms of an escrow agreement. The combined company is expected to generate North American revenues of more than $5 billion. USOP's North American office products operations will be integrated into Corporate Express' North American operations.

In the combined organization, Robert King and Mark Hoffman will continue in their roles of President and CEO of Corporate Express' North American Operations and President of North American Office Products, respectively. Jay Mutschler, former President of USOP-North America, will assume the position of Executive Vice President North America Office Products, reporting to Mark Hoffman.

In addition to enhancing Corporate Express' leadership position in the U.S. business-to-business office and computer products and office furniture market, the acquisition results in substantial advantages to Corporate Express' and the former USOP's customers, including:

-- even greater access to office and computer supplies, office furniture

and services;

-- enhanced economies of scale;

-- superior customer service levels; and

-- an expanded base of seasoned office products sales and distribution

employees.

"We are very pleased to have successfully closed this transaction, and we are looking forward to quickly integrating USOP's operations into Corporate Express," said King. "The combination of Corporate Express and USOP will result in greater economies of scale and the ability to leverage USOP's mid-market presence to create a broad customer service expertise."

About Corporate Express

Corporate Express, Inc. is a wholly-owned subsidiary of Buhrmann, NV (AEX: BUHR), an international business services and distribution group. Buhrmann is the world'