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Exhibit 99.1
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Contact: Lynda Nordeen
(952) 830-3361
FOR IMMEDIATE RELEASE
COURT OF APPEALS AFFIRMS ANTITRUST VERDICT IN JOSTENS' FAVOR
Rejects Appeal, Upholds Decision to Overturn $25.3 Million Jury Verdict
Minneapolis, July 14, 2000 -- On July 10, 2000, the 5th U.S. Circuit Court of
Appeals denied an appeal by Taylor Publishing Company and affirmed the Texas
federal trial court's judgment to overturn a $25.3 million jury verdict against
Jostens in a two-year-old antitrust lawsuit.
A three-judge panel of the 5th Circuit unanimously rejected Taylor's
appeal of the judgment entered in January 1999 by federal district court judge
Paul Brown. The court dismissed Taylor's arguments that Jostens attempted to
monopolize the national school yearbook market. The court affirmed the opinion
of Judge Brown, who had taken the $25.3 million verdict away from the jury by
finding that the evidence presented by Taylor during the trial did "not support
the jury's verdict that (Jostens) attempted to monopolize the yearbook market."
Taylor filed its antitrust action in 1997 alleging it lost business
because of Jostens' practices. In May 1998, a jury in Sherman, Texas, found in
favor of Taylor. In January 1999, the U.S. District Court for the Eastern
District of Texas reversed the judgment and found in favor of Jostens.
Jostens is a provider of products, programs and services that help
people celebrate important moments, recognize achievements and build
affiliation. The Company's products include yearbooks, class rings, graduation
products, school photography, employee and achievement awards, and products for
athletic departments and their fans.
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