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Cadmus Raises $6.4m To Pursue Its Growth Strategy

Cadmus Raises $6.4m To Pursue Its Growth Strategy

Auckland, 16 October 2006 – Cadmus Technology (NZX:CTL) New Zealand’s leading payment solutions company announced today that it has undertaken a capital raising by the placement of 31 million ordinary shares at 20 cents each together with six million options at 22c each, to major investment funds, high net worth individuals and professional investors.

The issue of these shares and options, were made at a premium to the market price for the week ending the 13th October, and reflects the strong market support for Cadmus and its ongoing growth strategy.

Keith Phillips, Chairman of Cadmus Technology Limited, says, “The company has already advised the market that it intends to continue on a growth strategy that includes acquisition and or amalgamation of similar and compatible entities, where these can add shareholder value and allow the company to reach critical mass in terms of its product development and distribution strategy. The capital raised in the Cadmus placement as well as the options will be used to boost the Company’s ability to take advantage of opportunities as they arise such as strategic acquisitions and joint ventures in both New Zealand and in our key international markets,”

All placement issue shares will rank equally in all respects with the existing ordinary shares of Cadmus on issue.

Cadmus will hold its AGM on 26 October in the Normandy Room at Spencer on Byron Hotel in Takapuna, Auckland, New Zealand at 10am.

ENDS

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