content_image/73529.jpg content_image/73535.jpg content_image/73542.jpg content_image/73539.jpg content_image/73540.jpg content_image/73541.jpg
<img src='content_image/73529.jpg'>

Cincinnati, Ohio based Multi-Color Corporation is a premier global resource of cost-effective, innovative decorating solutions and packaging services to consumer product and food and beverage companies, national retailers and container manufacturers worldwide. Multi-Color is the world’s largest producer of both in-mold labels (IML) and heat transfer labels (HTL), and a major manufacturer of high-quality pressure sensitive labels and shrink sleeves. The Company’s Packaging Services Division, Quick Pak, is a leading provider of promotional packaging, assembly and fulfillment services. Multi-Color has six manufacturing locations in the United States. Its products are shipped to more than 250 customers in the U.S., Canada, Mexico, Central and South America, and Asia. 

## Financial Highlights 

(amounts in thousands except per share data) 

<img src='content_image/73535.jpg'>

(1) All share amounts have been adjusted to reflect the 3-for-2 stock splits effective November 30, 2001 and November 30, 2003. (2) 

<img src='content_image/73542.jpg'>

Net Income and EPS exclude the one-time tax benefit recorded in Fiscal Year 2000. 

## Fiscal 2004 Financial Highlights: 

> Sales Revenue increased 28% to a record $127 million, our sixth consecutive year of double-digit annual increases. 

> Net Income grew 3% to $6.5 million. Excluding a $.7 million charge for impairment loss and plant closure costs, Net Income increased 14%. 

> Diluted Earnings Per Share (EPS) at $.99 per share equals the previous year. Excluding the one-time charges, diluted EPS were $1.09, up 10% from a year ago. 

> Shareholder Equity increased 30% to $33 million. 

> Total Debt reduced $6.4 million to $21.4 million. 

<img src='content_image/73539.jpg'>

<img src='content_image/73540.jpg'>

<img src='content_image/73541.jpg'>

