Affinity Express Management Team and LiveIt Acquire Outsourced Graphic and Design Services Leader

Affinity Express Management Team and LiveIt Acquire Outsourced Graphic and Design Services Leader

January 11, 2007

Chicago, January 11, 2007–James R. Daleen, president and chief executive officer of Affinity Express, Inc., announced that the company’s management team, in partnership with LiveIt Solutions, Inc., the holding company for Ayala Corporation’s investments in the Business Process Outsourcing (BPO) sector, has acquired 100% of the Delawareincorporated
company.

Affinity Express is the leading provider of outsourced graphic and design services for more than 3,000 clients worldwide in several industries, including:

  • Newspapers (e.g. the Los Angeles Times, the largest daily in the US)
  • Direct mail (e.g. ADVO, the largest company in the industry)
  • Quick printing (e.g. US market leaders Staples and OfficeMax)
  • Commercial printing and business forms (e.g. Standard Register Company)
  • Promotional products industries (e.g. ASI, the largest media and marketing organization serving the advertising specialty industry)

Ayala Corporation was established in 1834 and is one of the leading conglomerates in the Philippines. Ayala and its listed subsidiaries have a combined market capitalization of
approximately $14 billion.

LiveIt invested $28 million in Affinity Express by acquiring the existing shares of the company’s investor group, which includes four U.S.-based investment funds, Flagship Ventures, Hercules Technology Growth Capital, Inc., Ticonderoga Capital and Coop Securities LLC, as well as injecting a significant amount of expansion capital into the company.Affinity Express provides reliable, high-quality, turnkey solutions to clients, including:

  • Workflow process consulting for optimal efficiency
  • Technology consulting for performance and reliability
  • Development, integration and deployment of workflow, order management and online design solutions
  • Complete business process outsourcing at committed service levels

The combination of technology focus and dedication to quality help clients effect dramatic improvements in their businesses and profitability.

Headquartered in Chicago, Illinois, Affinity Express employs over 800 professionals worldwide, with project management and implementation teams in Texas, Ohio, Florida, Connecticut and New York, and a large production center in Pune, India. The company plans to launch a second production center in Manila, Philippines, in the first half of 2007, with the assistance of LiveIt.

Fred Ayala, CEO of LiveIt, said, “We are very pleased to be investing in an industry leading innovator like Affinity Express and delighted that the entire management team, which led the company to over 40% revenue growth this year while delivering high service quality, will remain with the company. With our investment, we believe that the company now has the optimal combination of people, expertise, market traction and capital that will enable it to continue to set the pace for the global outsourced graphic and design services industry.”

Affinity Express Founder David Grant commented, “We have focused for 13 years on the reliable delivery of outsourced graphic and design services. As a result of this focus, we have achieved a level of success that captured the attention of Ayala, a fine firm with extensive resources and experience. Now this relationship will enable Affinity Express to maximize our opportunity for continued success.”

According to Mr. Daleen, the new funding will be used to expand the company’s operations, accelerate technology deployment and support its international expansion. Mr. Daleen explained, “Our substantial increase in resources will enable us to invest in the systems, staffing and capabilities required to meet the expanding needs of our marketplace while continuing to improve the quality of the service we provide our clients today.”

Mr. Ayala, who joins the Affinity Express Board of Directors as Chairman, stated, “In an environment of increasing costs, changing technology, staff turnover and competition from new media, market leaders recognize that the outsourcing of graphic and design services enables them to focus on their core competencies, as well as improve profitability and reduce investments. LiveIt is thrilled to partner with Affinity Express in bringing these benefits to its clients.”

About Affinity Express

Affinity Express is the leading business process outsourcing company that is 100% dedicated to graphics and design services. The company offers its services 24 hours per day, seven days per week and 365 days per year. Affinity Express manages its unique creative process with a continuous improvement approach based on Six Sigma principles so clients get reliable output in fast turn times for their mission-critical digital files. The comprehensive, customized graphics solutions of Affinity Express help clients lower production costs, generate higher profits and gain a competitive edge, without having to invest in establishing and maintaining these capabilities internally. For more information about Affinity Express, please visit www.affinityexpress.com.

About Ayala Corporation

Ayala Corporation was established in 1834 and is one of the leading conglomerates in the Philippines. Ayala and its listed subsidiaries have a combined market capitalization of approximately $15 billion. LiveIt is Ayala Corporation’s holding company for is investments in the BPO sector. It recently acquired a significant shareholding in eTelecare, a leading customer care BPO company, and Integreon, a Knowledge Process Outsourcing company specializing in document, content, knowledge and legal services. For more information about Ayala Corporation, please visit www.ayala.com.ph.