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American Greetings Corporation

American Greetings Announces Plans to Acquire Recycled Paper Greetings

American Greetings has agreed to purchase Recycled Paper Greetings, Inc. ("Recycled Paper"). Recycled Paper is a Chicago-based preeminent creator and designer of humorous greeting cards with annual net sales of approximately $80 million. Recycled Paper's humor cards are distributed primarily through mass retail partners, drug stores and specialty retail stores. The transaction is subject to various closing conditions including a Chapter 11 reorganization process being successfully completed for Recycled Paper and other closing conditions.

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