PROSPECTUS SUPPLEMENT THIS PROSPECTUS SUPPLEMENT IS FILED UNDER
(TO PROSPECTUS DATED JULY 8, 1998) RULE 424(B)(3) AND RELATES TO REGISTRATION
STATEMENT NO. 33-97090
ACG HOLDINGS, INC.
AMERICAN COLOR GRAPHICS, INC.
12 3/4% SENIOR SUBORDINATED EXCHANGE NOTES DUE 2005
RECENT DEVELOPMENTS
Attached hereto and incorporated by reference herein is the Form 10-Q
Quarterly Report of ACG Holdings, Inc. for the quarterly period ended
December 31, 1998.
This Prospectus Supplement, together with the Prospectus, is to be
used by Morgan Stanley & Co. Incorporated in connection with offers and sales
of the above-referenced securities in market-making transactions at negotiated
prices related to prevailing market prices at the time of sale. Morgan Stanley
& Co. Incorporated may act as principal or agent in such transactions.
February 11, 1998
