X-Rite Meets To Vote On Sale

-- Graphic Arts Online, 9/28/2008 3:55:00 PM

GRAND RAPIDS, Mich.--(BUSINESS WIRE)--X-Rite, Incorporated (NASDAQ:XRIT) today filed with the U.S. Securities & Exchange Commission (“SEC”) a definitive proxy statement relating to the proposals described below and announced that a special meeting of X-Rite’s shareholders will be held on October 28, 2008, at 8:30 a.m., Central Time, at the offices of McDermott Will & Emery LLP, 227 West Monroe Street, Chicago, Illinois 60606. At the special meeting, X-Rite’s shareholders of record as of the September 22, 2008 record date will be asked to approve the following proposals, which are further described in the proxy statement:

Proposal 1 The issuance to OEPX, LLC, a Delaware limited liability company managed by One Equity Partners, Sagard Capital Partners, L.P. and Tinicum Capital Partners II, L.P., Tinicum Capital Partners II Parallel Fund, L.P. and Tinicum Capital Partners II Executive Fund L.L.C. of an aggregate of 46,904,763 shares of the Company's common stock, in exchange for an aggregate purchase price of $155 million in cash.

Proposal 2

The approval of the X-Rite, Incorporated 2008 Omnibus Long Term Incentive Plan.

The Board of Directors of X-Rite believes that Proposals 1 and 2 are in the best interest of X-Rite and its shareholders and, therefore, unanimously recommends that X-Rite’s shareholders vote “FOR” Proposals 1 and 2 at the special meeting.

As detailed in the proxy statement, shareholders can vote their shares via the Internet, by telephone, by mail or by written ballot at the special meeting. Shareholders whose shares are held in “street name” should instruct their brokers how to vote their shares using the instructions provided by their brokers.

About X-Rite

X-Rite is the global leader in color science and technology. The company, which now includes color industry leader Pantone, Inc., develops, manufactures, markets and supports innovative color solutions through measurement systems, software, color standards and services. X-Rite’s expertise in inspiring, selecting, measuring, formulating, communicating and matching color helps users get color right the first time and every time, which translates to better quality and reduced costs. X-Rite serves a range of industries, including printing, packaging, photography, graphic design, video, automotive, paints, plastics, textiles, dental and medical. For further information, please visit www.xrite.com