<SUBMISSION>
<ACCESSION-NUMBER>0000950123-05-007841
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20050627
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20050628
<DATE-OF-FILING-DATE-CHANGE>20050628
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>BOWNE & CO INC
<CIK>0000013610
<ASSIGNED-SIC>2750
<IRS-NUMBER>132618477
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-05842
<FILM-NUMBER>05918809
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>345 HUDSON ST
<CITY>NEW YORK
<STATE>NY
<ZIP>10014
<PHONE>2129245500
</BUSINESS-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y10408e8vk.htm
<DESCRIPTION>8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt">CURRENT REPORT


<P align="center" style="font-size: 10pt">Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="49%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date of Report (Date of Earliest Event Reported):
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">June&nbsp;27, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 24pt"><B><U>Bowne &#038; Co., Inc.</U></B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Delaware
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-05842
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">13-2618477</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">345 Hudson Street, New York, New York
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">10014</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">Registrant&#146;s telephone number, including area code:
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">212-924-5500</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>


<DIV align="center" style="font-size: 10pt">Former name or former address, if changed since last report</DIV>


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="y10408exv2w1.htm">EX-2.1: AGREEMENT AND PLAN OF MERGER</A></TD></TR>
<TR><TD colspan="9"><A HREF="y10408exv2w2.htm">EX-2.2: SHAREHOLDER AGREEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="y10408exv99w1.htm">EX-99.1: PRESS RELEASE</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01 Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>


<P align="left" style="font-size: 10pt">On June&nbsp;27, 2005, Bowne &#038; Co., Inc. (the &#147;Company&#148;), Bowne of New York City, L.L.C. (&#147;BNY&#148;) and BGS
Companies Inc. (&#147;BGS&#148;), Lionbridge Technologies, Inc. (&#147;Lionbridge&#148;) and GGS Acquisition Corp., a
whole-owned subsidiary of Lionbridge (the &#147;Acquisition Vehicle&#148;), entered into an Agreement and
Plan of Merger (the &#147;Agreement&#148;), pursuant to which BGS will merge with Acquisition Vehicle and a
subsidiary of the Company will transfer certain assets related the globalization and localization
business to a subsidiary of BGS. The Company concurrently issued a press release announcing the
execution and delivery of the Agreement, a copy of which is attached to this report as Exhibit
99.1.


<P align="left" style="font-size: 10pt">Bowne will receive a total sales price with a value of at least $180&nbsp;million. Under the terms of
the Agreement, the consideration consists of $130&nbsp;million in cash and 9.4&nbsp;million shares of
Lionbridge common stock. If the shares issued to Bowne do not have a value of $50&nbsp;million,
Lionbridge will issue a subordinated note to Bowne of up to $20&nbsp;million to bring the value of the
shares, together with the note, to $50&nbsp;million. If the shares have a value grater than $68&nbsp;million,
the number of shares will be reduced so that the value is no greater than $68&nbsp;million.


<P align="left" style="font-size: 10pt">Pursuant to a shareholder agreement (the &#147;Shareholder Agreement&#148;), the shares of Lionbridge common
stock received by the Company as part of the consideration for the transaction are subject to
certain demand and &#147;piggyback&#148; registration rights, rights of first offer and standstill
restrictions on the purchase of Lionbridge common stock. Upon consummation of the transaction, the
Company will receive one seat on the Lionbridge Board of Directors. Consummation of the transaction
is subject to a number of conditions, including the receipt of required regulatory approvals and
other consents. The Agreement may be terminated by the Company, Lionbridge or the Acquisition
Vehicle in certain circumstances including if the transaction has not be
consummated by February&nbsp;15, 2006. A copy of the Agreement and the Shareholder Agreement is attached
to this report as Exhibits 2.1 and 2.2. The descriptions contained herein of the transactions
contemplated by the Agreement are not completed and are qualified in their entirety by reference to
the Agreement and the press release described above, each of which are incorporated herein by
reference.


<P align="left" style="font-size: 10pt">Some of the statements contained in this report are &#147;forward-looking&#148; statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements are
subject to inherent risks and uncertainties that may cause actual results or events to differ
materially from those contemplated by such statements. Such risks and uncertainties include, among
others, the timing (including any possible delays) and receipt of regulatory approvals (including
any conditions, limitations or restrictions placed thereon), as well as the risk that one or more
governmental agencies may deny approval of the transaction and other factors that may be referred
to the Company&#146;s reports filed with the Securities and Exchange Commission from time to time.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01.&nbsp;Financial Statements and
Exhibits.</B>
<P align="left" style="font-size: 10pt">(c)&nbsp;Exhibits.
<P>
<TABLE style="font-size: 10pt" align="center" cellspacing="0" cellpadding="0" border="0" width="100%">
 <TR>
  <TD width="1%">&nbsp;</TD>
  <TD WIDTH="2%">&nbsp;</TD>
  <TD width="97%">&nbsp;</TD>
 </TR>

<TR valign="top">
<TD align="left">2.1</TD>
<TD>&nbsp;</TD>
<TD>Agreement and Plan of Merger, dated June&nbsp;27, 2005, among BGS
Companies, Inc., Bowne&nbsp;&#038; Co., Inc., Bowne of New York City,
LLC, Lionbridge Technologies, Inc. and GGS Acquisition Corp.
</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
<TD align="left">2.2</TD>
<TD>&nbsp;</TD>
<TD>Shareholder Agreement.
</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
<TD align="left">99.1</TD>
<TD>&nbsp;</TD>
<TD>Press release, dated June&nbsp;27, 2005.
</TD>
</TR>




</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Bowne &#038; Co., Inc.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><I>June&nbsp;27, 2005</I>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>By:</I>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Scott L. Spitzer</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Name: Scott L. Spitzer</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Title: Senior Vice President, General Counsel</I></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>and Corporate Secretary</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<FONT face="times">&nbsp;</FONT>

<P align="center" style="font-size: 10pt"><B>Exhibit Index</B>

<P>
<TABLE style="font-size: 10pt" align="center" cellspacing="0" cellpadding="0" border="0" width="100%">
 <TR>
  <TD width="1%">&nbsp;</TD>
  <TD WIDTH="2%">&nbsp;</TD>
  <TD width="97%">&nbsp;</TD>
 </TR>

<TR valign="top">
<TD align="left">2.1</TD>
<TD>&nbsp;</TD>
<TD>Agreement and Plan of Merger, dated June&nbsp;27, 2005, among BGS
Companies, Inc., Bowne&nbsp;&#038; Co., Inc., Bowne of New York City,
LLC, Lionbridge Technologies, Inc. and GGS Acquisition Corp.
</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
<TD align="left">2.2</TD>
<TD>&nbsp;</TD>
<TD>Shareholder Agreement.
</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
<TD align="left">99.1</TD>
<TD>&nbsp;</TD>
<TD>Press release, dated June&nbsp;27, 2005.
</TD>
</TR>




</TABLE>
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>y10408exv2w1.htm
<DESCRIPTION>EX-2.1: AGREEMENT AND PLAN OF MERGER
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-2.1:</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;2.1</B>



<P align="center" style="font-size: 10pt"><B>AGREEMENT AND PLAN OF MERGER</B>



<P align="center" style="font-size: 10pt"><B>dated June&nbsp;27</B>, <B>2005</B>



<P align="center" style="font-size: 10pt"><B>among</B>



<P align="center" style="font-size: 10pt"><B>BGS COMPANIES, INC.</B>



<P align="center" style="font-size: 10pt"><B>(&#147;BGS&#148;)</B>



<P align="center" style="font-size: 10pt"><B>BOWNE &#038; CO., INC.</B>



<P align="center" style="font-size: 10pt"><B>BOWNE OF NEW YORK CITY, LLC</B>



<P align="center" style="font-size: 10pt"><B>(the &#147;Sellers&#148;)</B>



<P align="center" style="font-size: 10pt"><B>LIONBRIDGE TECHNOLOGIES, INC.</B>



<P align="center" style="font-size: 10pt"><B>(the &#147;Buyer&#148;)</B>



<P align="center" style="font-size: 10pt"><B>and</B>



<P align="center" style="font-size: 10pt"><B>GGS ACQUISITION CORP.</B>



<P align="center" style="font-size: 10pt"><B>(the &#147;Transitory Subsidiary&#148;)</B>




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="center" style="font-size: 10pt">TABLE OF CONTENTS


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><U>Page</U></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE I THE MERGER</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">The Merger</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Conversion of Shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Payment of the Merger Consideration</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Dissenting Shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Options</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Certificate of Incorporation and By-laws</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">No Further Rights</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Closing of Transfer Books</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">The Closing</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Allocation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Additional Action</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE II REPRESENTATIONS AND WARRANTIES OF BGS AND THE SELLERS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Organization, Qualification and Corporate Power</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capitalization; Representations Regarding BGS Stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Authorization of Transaction</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Noncontravention</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Operating Subsidiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Financial Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Absence of Certain Changes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Undisclosed Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Tax Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Ownership and Condition of Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Owned Real Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Real Property Leases</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Intellectual Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.14</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.15</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Litigation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.16</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Employees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.17</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Employee Benefits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.18</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Environmental Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.19</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Legal Compliance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.20</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Permits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.21</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Certain Business Relationships With Affiliates</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.22</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Brokers&#146; Fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.23</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Accounts Receivable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.24</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Insurance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.25</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Warranties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.26</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Customers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.27</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Powers of Attorney</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.28</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Books and Records</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">-i-
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><U>Page</U></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.29</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Controls and Procedures</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.30</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Government Contracts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.31</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investment Representation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2.32</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Exclusivity of Representations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE BUYER AND THE TRANSITORY SUBSIDIARY</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Organization, Qualification and Corporate Power</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capitalization; Representations Regarding Stock</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Authorization of the Transaction</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Noncontravention</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Reports and Financial Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Absence of Certain Changes or Events</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Financing Commitment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Solvency</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Litigation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Intellectual Property</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Customers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">India</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3.13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE IV PRE-CLOSING COVENANTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Closing Efforts</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Governmental and Third-Party Notices and Consents</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Operation of Business</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Access to Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">35</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Notice of Breaches</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Buyer&#146;s Board of Directors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">No Solicitation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">37</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Delivery of S-X Financial Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">No Purchases of Stock During Trading Period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Termination of Affiliate Transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Matters</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Stockholder Approval</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">39</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE V CONDITIONS TO CLOSING</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Conditions to Obligations of each Party</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Conditions to Obligations of the Buyer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Conditions to Obligations of the Seller</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">41</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE VI POST-CLOSING COVENANTS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Proprietary Information</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Solicitation and Hiring</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Non-Competition</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">43</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Sharing of Data</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Use of Name</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">44</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cooperation in Litigation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Certain Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Indemnification of Directors and Officers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Replacement of Parent Guarantees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">-ii-
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><U>Page</U></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Union Employees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Transition Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Change in Control and Retention Payments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE VII INDEMNIFICATION</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Indemnification by the Parent</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Indemnification by the Buyer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Indemnification Claims</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">47</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Survival of Representations and Warranties</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">50</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Limitations.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">51</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Treatment of Indemnity Payments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Damages Net of Insurance, Etc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE VIII TAX MATTERS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Preparation and Filing of Tax Returns; Payment of Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Tax Indemnification</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">53</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Allocation of Certain Taxes</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cooperation on Tax Matters; Tax Audits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Termination of Tax Sharing Agreements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">338(h)(10) Election</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">56</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Section&nbsp;338(g) Election</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Scope of Article&nbsp;VIII</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE IX TERMINATION</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Termination of Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">57</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Effect of Termination</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" align="left">ARTICLE X DEFINITIONS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Definitions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Knowledge</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left">ARTICLE XI MISCELLANEOUS</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Press Releases and Announcements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">No Third Party Beneficiaries</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Entire Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Succession and Assignment</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Counterparts and Facsimile Signature</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Headings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Notices</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">73</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Governing Law</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Amendments and Waivers</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.10</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Severability</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.11</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.12</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Specific Performance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">75</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.13</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Jurisdiction; Agents for Service of Process</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.14</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Waiver of Jury Trial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11.15</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:30px; text-indent:-15px">Construction</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">76</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" valign="top" align="center">Exhibits</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Exhibit A - Form of Seller Note</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">-iii-
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><U>Page</U></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Exhibit B - Form of Amended and Restated Certificate of Incorporation of Surviving Corporation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Exhibit C - Form of
Shareholder Agreement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Exhibit D - Form of Bill of Sale</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Exhibit E - Form of Voting Agreement</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedules</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Schedule 3.2 - Capitalization of the Buyer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedule 4.3(c) - Assets to be Transferred Prior to Closing</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Schedule 4.6 - Parent Nominees</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedule 4.7 - Persons Excluded From No Solicitation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Schedule 4.10 - Affiliate Transactions that Survive Closing</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedule 5.2(a) - Required Consents and Approvals</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Schedule 5.2(j) - Required Good Standing Certificates</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedule 6.12 - Change in Control and Retention Payments</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Schedule 10.2(a) - Seller Knowledge Parties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left">Schedule 10.2(b) - Buyer Knowledge Parties</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Disclosure Schedule</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">-iv-
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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="center" style="font-size: 10pt"><B>AGREEMENT AND PLAN OF MERGER</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement and Plan of Merger (this &#147;Agreement&#148;) is entered into as of June&nbsp;27, 2005 by
and among Lionbridge Technologies, Inc., a Delaware corporation (the &#147;Buyer&#148;), GGS Acquisition
Corp., a Delaware corporation (&#147;Transitory Subsidiary&#148;), BGS Companies, Inc., a Delaware
corporation (&#147;BGS&#148;), Bowne &#038; Co., Inc., a Delaware corporation (the &#147;Parent&#148;), and Bowne of New
York, LLC, a Delaware limited liability company (&#147;Bowne New York&#148;) (the Parent and Bowne New York
are each individually referred to herein as a &#147;Seller&#148; and are collectively referred to herein as
the &#147;Sellers&#148;).


<P align="center" style="font-size: 10pt"><B>BACKGROUND</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;The Business Subsidiaries and the Operating Subsidiaries are engaged in the Business.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;This Agreement contemplates a merger of the Transitory Subsidiary into BGS. In such
merger, the stockholders of BGS will receive cash and Buyer Common Stock in exchange for their
capital stock of BGS.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalized terms used in this Agreement shall have the meanings ascribed to them in Article
X.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In consideration of the representations, warranties and covenants herein contained, the
Parties agree as follows.


<P align="center" style="font-size: 10pt"><B>ARTICLE I</B>



<P align="center" style="font-size: 10pt"><B>THE MERGER</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1 <U>The Merger</U>. Upon and subject to the terms and conditions of this Agreement, the
Transitory Subsidiary shall merge with and into BGS at the Effective Time. From and after the
Effective Time, the separate corporate existence of the Transitory Subsidiary shall cease and BGS
shall continue as the Surviving Corporation. The Merger shall have the effects set forth in
Section&nbsp;259 of the Delaware General Corporation Law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2 <U>Conversion of Shares</U>. At the Effective Time, by virtue of the Merger and without
any action on the part of any Party:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each BGS Share issued and outstanding immediately prior to the Effective Time (other than
BGS Shares owned beneficially by the Buyer or the Transitory Subsidiary, Dissenting Shares and BGS
Shares held in BGS&#146;s treasury) and all rights in respect thereof shall, by virtue of the Merger and
without any action on the part of any holder thereof, forthwith cease to exist and be converted
into and represent the right to receive the Merger Consideration.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each BGS Share held in BGS&#146;s treasury immediately prior to the Effective Time and each BGS
Share owned beneficially by the Buyer or the Transitory Subsidiary shall be cancelled and retired
without payment of any consideration therefor.



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Each share of common stock, $.01 par value per share, of the Transitory Subsidiary issued
and outstanding immediately prior to the Effective Time shall, by virtue of the Merger and without
any action on the part of any holder thereof, be converted into and thereafter evidence one share
of common stock, $.01 par value per share, of the Surviving Corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3 <U>Payment of the Merger Consideration</U>. The aggregate Merger Consideration shall be
payable as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;At the Closing, the Buyer shall deliver the aggregate Stock Consideration to the BGS
Stockholders (which Stock Consideration shall be delivered to each BGS Stockholder in the
proportion that the number of BGS Shares owned by such BGS Stockholder immediately prior to the
Effective Time bears to the total number of issued and outstanding BGS Shares immediately prior to
the Effective Time).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Cash Consideration shall be payable by wire transfer of immediately available funds to
the account(s) of the BGS Stockholders specified in writing by such BGS Stockholders at least two
(2)&nbsp;Business Days prior to the Closing (which Cash Consideration shall be delivered to each BGS
Stockholder in the proportion that the number of BGS Shares owned by such BGS Stockholder
immediately prior to the Effective Time bears to the total number of issued and outstanding BGS
Shares immediately prior to the Effective Time); provided, however, that if the Cash Consideration
exceeds $130,000,000, at the Buyer&#146;s option, up to $20,000,000 of the Cash Consideration in excess
of $130,000,000 may be paid by the execution and delivery by the Buyer of a promissory note to each
BGS Stockholder in the form attached hereto as Exhibit&nbsp;A (the &#147;Seller Note&#148;) (each of which Seller
Notes shall be in a principal amount in the proportion that the number of BGS Shares owned by such
BGS Stockholder immediately prior to the Effective Time bears to the total number of issued and
outstanding BGS Shares immediately prior to the Effective Time); provided, further, that if the
aggregate value of the Stock Consideration calculated at the Average Closing Price is equal to or
greater than $50,000,000, the Cash Consideration shall be payable solely in cash.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.4 <U>Dissenting Shares</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Dissenting Shares shall not be converted into or represent the right to receive the Merger
Consideration unless any BGS Stockholder holding such Dissenting Shares shall have forfeited his,
her or its right to appraisal under the Delaware General Corporation Law or properly withdrawn his,
her or its demand for appraisal. If such BGS Stockholder has so forfeited or withdrawn his, her or
its right to appraisal of Dissenting Shares, then, (i)&nbsp;as of the occurrence of such event, such
holder&#146;s Dissenting Shares shall cease to be Dissenting Shares and shall be converted into and
represent the right to receive the Merger Consideration payable in respect of such BGS Shares
pursuant to Section&nbsp;1.2, and (ii)&nbsp;promptly following the occurrence of such event, the Buyer or the
Surviving Corporation shall deliver to such BGS Stockholder the Merger Consideration to which such
holder is entitled pursuant to Section&nbsp;1.2.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;BGS shall give the Buyer (i)&nbsp;prompt notice of any written demands for appraisal of any BGS
Shares, withdrawals of such demands, and any other instruments that relate to such demands received
by BGS and (ii)&nbsp;the opportunity to direct all negotiations and proceedings with respect to demands
for appraisal under the Delaware General Corporation Law.



<P align="center" style="font-size: 10pt">-2-
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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BGS shall not, except with the prior written consent of the Buyer, make any payment with
respect to any demands for appraisal of BGS Shares or offer to settle or settle any such demands.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.5 <U>Options</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;All Options shall terminate and be of no further force or effect effective as of the
Effective Time and promptly after the Closing the Parent shall pay all amounts owing to each holder
of such Options as a result of the Merger and the termination of such Options. Prior to the
Effective Time, BGS shall, to the extent required under the provisions of any applicable Option,
enter into an agreement, in a form reasonably satisfactory to the Buyer, with each holder of an
outstanding Option providing for the termination of such Option effective as of the Effective Time.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;BGS shall terminate all BGS Stock Plans at or prior to the Effective Time.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;In connection with the payment of the amounts owing to the Option holders under Section
1.5(a), the Parent shall deduct and withhold from such payments such amounts as are required to be
deducted and withheld under the Code, or any other applicable U.S., state or foreign law, rule or
regulation. Without limiting the foregoing, the Parent shall deduct and withhold any withholding
Tax (on such payments or any deemed payments under Section&nbsp;409A of the Code) under Section&nbsp;3402 or
3102 of the Code or any corresponding state or foreign law, rule or regulation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.6 <U>Certificate of Incorporation and By-laws</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Certificate of Incorporation of the Surviving Corporation immediately following the
Effective Time shall be amended and restated in its entirety to be in the form attached hereto as
<U>Exhibit&nbsp;B</U>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The By-laws of the Surviving Corporation immediately following the Effective Time shall be
the same as the By-laws of the Transitory Subsidiary immediately prior to the Effective Time,
except that the name of the corporation set forth therein shall be changed to the name of BGS.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.7 <U>No Further Rights</U>. At and after the Effective Time, no BGS Shares shall be deemed
to be outstanding, and holders of certificates formerly representing BGS Shares shall cease to have
any rights with respect thereto except as provided herein or by law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.8 <U>Closing of Transfer Books</U>. At the Effective Time, the stock transfer books of BGS
shall be closed and no transfer of BGS Shares shall thereafter be made. If, after the Effective
Time, certificates formerly representing BGS Shares are presented to the Buyer or the Surviving
Corporation, they shall be cancelled and exchanged for the Merger Consideration in accordance with
Section&nbsp;1.2, subject to applicable law in the case of Dissenting Shares.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.9 <U>The Closing</U>.


<P align="center" style="font-size: 10pt">-3-
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Closing shall take place at the offices of White &#038; Case LLP, 1155 Avenue of the
Americas, New York, New York 10036 commencing at 9:00 a.m. local time on the Closing Date. All
transactions at the Closing shall be deemed to take place simultaneously, and no transaction shall
be deemed to have been completed and no documents or certificates shall be deemed to have been
delivered until all other transactions are completed and all other documents and certificates are
delivered.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;At the Closing:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the Sellers shall deliver to the Buyer the various certificates, instruments and documents
referred to in Section&nbsp;5.2;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;the Buyer shall deliver to the Sellers the various certificates, instruments and
documents referred to in Section&nbsp;5.3;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;the Surviving Corporation shall file with the Secretary of State of the State of
Delaware the Certificate of Merger;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;Bowne New York shall deliver (or shall cause to be delivered) or otherwise put the Buyer
in possession or control of the minute books, stock books, ledgers and registers, corporate seals
and other similar corporate records of each of the Business Subsidiaries and each of the Operating
Subsidiaries;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;the Buyer shall deliver to the BGS Stockholders the Stock Consideration;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;the Buyer shall pay the cash portion of the Merger Consideration to the BGS Stockholders
and, if necessary, shall execute and deliver the Seller Notes; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;the Buyer and the Sellers shall execute and deliver to each other a cross-receipt
evidencing the transactions referred to above.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.10 <U>Allocation</U>. The Buyer shall prepare a schedule with an allocation of the Merger
Consideration (and all other capitalizable costs) among each Business Subsidiary, each Operating
Subsidiary and the non-solicitation and non-competition covenants set forth in Sections&nbsp;6.2 and 6.3
of this Agreement, together with appropriate supporting documentation and valuation reports
prepared in connection therewith (the &#147;Allocation Schedule&#148;) within ninety (90)&nbsp;days after the
Closing Date. After preparation of the Allocation Schedule, it shall be submitted to the Sellers
for review and approval, which review shall be completed within thirty (30)&nbsp;days. The Buyer and
the Sellers shall attempt in good faith to resolve any differences between them as to the
allocation. If the Buyer and the Sellers are unable to resolve any differences as to allocation,
the disputed parts of the Allocation Schedule shall be submitted to a mutually-agreeable, neutral,
nationally recognized accounting firm for resolution. Any determination by the accounting firm
will be final and the Buyer and the Sellers shall be deemed to have approved of the Allocation
Schedule as modified by any such determination. After approval, the Allocation Schedule shall be
conclusive and binding upon the Parties hereto and shall be used by them for all purposes,
including financial accounting purposes and in the


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<P align="left" style="font-size: 10pt">preparation of all Tax Returns, including any forms required by Section&nbsp;338 of the Code and
any comparable provisions of state, local or foreign Tax law, unless otherwise required as a result
of an audit by a Taxing Authority or a court order.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.11 <U>Additional Action</U>. The Surviving Corporation may, at any time after the
Effective Time, take any action, including executing and delivering any document, in the name and
on behalf of either BGS or the Transitory Subsidiary, in order to consummate the transactions
contemplated by this Agreement. At any time and from time to time after the Closing, at the request
of the Buyer and without further consideration, the Sellers shall execute and deliver such other
instruments of sale, transfer, conveyance and assignment and take such actions as the Buyer may
reasonably request to place the Buyer in actual possession and operating control of the Business;
provided, however, that the Buyer shall pay all reasonable out-of-pocket expenses incurred by the
Sellers in connection therewith.


<P align="center" style="font-size: 10pt"><B>ARTICLE II</B>



<P align="center" style="font-size: 10pt"><B>REPRESENTATIONS AND WARRANTIES OF BGS AND THE SELLERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in the Disclosure Schedule, BGS and the Sellers jointly and severally
represent and warrant to the Buyer as follows.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1 <U>Organization, Qualification and Corporate Power</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>The Parent</U>. The Parent is a corporation duly organized, validly existing and in
good standing under the laws of its jurisdiction of organization. The Parent is duly qualified to
conduct business and is in good standing under the laws of each jurisdiction in which the nature of
its businesses or the ownership or leasing of its properties requires such qualification, except
for those jurisdictions in which the failure to be so qualified or in good standing would not
reasonably be expected to have a Business Material Adverse Effect. The Parent has all requisite
corporate power and authority to carry on the businesses in which it is engaged and to own and use
the properties owned and used by it. The Parent has made available to the Buyer complete and
accurate copies of its corporate charter and by-laws. Parent is not in default under or in
violation of any provision of its certificate of incorporation or by-laws, other than any such
default or violation that would not reasonably be expected to have a Business Material Adverse
Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Bowne New York</U>. Bowne New York is a limited liability company duly formed,
validly existing and in good standing under the laws of its jurisdiction of organization. Bowne
New York is duly qualified to conduct business and is in good standing under the laws of each
jurisdiction listed in Section&nbsp;2.1(b) of the Disclosure Schedule, which jurisdictions constitute
the only jurisdictions in which the nature of its businesses or the ownership or leasing of its
properties requires such qualification, except for those jurisdictions in which the failure to be
so qualified or in good standing would not reasonably be expected to have a Business Material
Adverse Effect. Bowne New York has all requisite limited liability company power and authority to
carry on the businesses in which it is engaged and to own and use the properties owned and used by
it. The Parent has made available to the Buyer complete and accurate copies of Bowne New York&#146;s
certificate of formation and operating agreement. Bowne New York is



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<P align="left" style="font-size: 10pt">not in default under or in violation of any provision of its certificate of formation or
operating agreement, other than any such default or violation that would not reasonably be expected
to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>The Business Subsidiaries</U>. Each Business Subsidiary is a corporation duly
organized, validly existing and, where applicable, in good standing under the laws of its
jurisdiction of organization and is duly qualified to conduct business and, where applicable, is in
good standing under the laws of each jurisdiction listed in Section&nbsp;2.1(c) of the Disclosure
Schedule, which jurisdictions constitute the only jurisdictions in which the nature of its
businesses or the ownership or leasing of its properties requires such qualification, except for
those jurisdictions in which the failure to be so qualified or in good standing would not
reasonably be expected to have a Business Material Adverse Effect. Each Business Subsidiary has
all requisite corporate power and authority to carry on the business in which it is engaged and to
own and use the properties owned and used by it.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <U>Charter and Corporate Records of the Business Subsidiaries</U>. The Parent has made
available to the Buyer correct and complete copies of the corporate charter and bylaws of each
Business Subsidiary (each as amended to date). The minute books (containing the records of
meetings of the stockholders and the board of directors) since September&nbsp;1, 2002 and the stock
record books of each Business Subsidiary are correct and complete in all material respects. No
Business Subsidiary is in default under or in violation of any provision of its corporate charter
or bylaws, other than any such default or violation that would not reasonably be expected to have a
Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2 <U>Capitalization; Representations Regarding BGS Stock</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The capitalization of BGS as of the date of this Agreement is set forth in Section&nbsp;2.2 of
the Disclosure Schedule. All of the issued and outstanding shares of stock of BGS are duly
authorized, validly issued, fully paid and nonassessable. Section&nbsp;2.2 of the Disclosure Schedule
sets forth a complete and accurate list, as of the date of this Agreement of: (i)&nbsp;all BGS Stock
Plans, indicating for each BGS Stock Plan the number of BGS Shares issued to date under such Plan,
the number of BGS Shares subject to outstanding options under such Plan and the number of BGS
Shares reserved for future issuance under such Plan; (ii)&nbsp;all holders of outstanding Options,
indicating with respect to each Option the BGS Stock Plan under which it was granted, the number of
BGS Shares subject to such Option, the exercise price, the date of grant, and the vesting schedule
(including any acceleration provisions with respect thereto). The Sellers have made available to
the Buyer complete and accurate copies of all BGS Stock Plans and forms of all stock option
agreements evidencing Options. There are no outstanding or authorized stock appreciation, phantom
stock or similar rights with respect to BGS. There are no agreements, voting trusts or proxies
with respect to the voting, or registration under the Securities Act, in respect of the capital
stock of BGS.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except as set forth in this Section&nbsp;2.2 or in Section&nbsp;2.2 of the Disclosure Schedule, (i)
no subscription, warrant, option, convertible security or other right (contingent or otherwise) to
purchase or acquire any shares of capital stock of BGS is authorized or outstanding, (ii)&nbsp;BGS has
no obligation (contingent or otherwise) to issue any subscription,



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<P align="left" style="font-size: 10pt">warrant, option, convertible security or other such right, or to issue or distribute to
holders of any shares of its capital stock any evidences of indebtedness or assets of BGS and (iii)
BGS has no obligation (contingent or otherwise) to purchase, redeem or otherwise acquire any shares
of its capital stock or any interest therein or to pay any dividend or to make any other
distribution in respect thereof.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Except as set forth in Section&nbsp;2.2 of the Disclosure Schedule, there is no agreement,
written or oral, between BGS and any holder of its securities, or, to the Sellers&#146; knowledge, among
any holders of its securities, relating to the sale or transfer (including agreements relating to
rights of first refusal, co-sale rights or &#147;drag-along&#148; rights), registration under the Securities
Act, or voting, of the capital stock of BGS.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;As of the date of this Agreement, all of the issued and outstanding shares of stock of BGS
are owned of record and beneficially by Bowne New York and Bowne New York has good title to the BGS
Shares, free and clear of any Security Interest, contractual restriction or covenant, option or
other adverse claim (whether arising by contract or by operation of law).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.3 <U>Authorization of Transaction</U>. BGS and each Seller has all requisite power and
authority to execute and deliver this Agreement and, in the case of the Sellers, the Shareholder
Agreement, and to perform its obligations hereunder and thereunder. The execution and delivery by
BGS and each Seller of this Agreement and, subject to obtaining the Requisite Stockholder Approval,
the performance by BGS and each Seller of this Agreement and, in the case of the Sellers, the
Shareholder Agreement, and the consummation by BGS and each Seller of the transactions contemplated
hereby and thereby have been duly and validly authorized by all necessary corporate or limited
liability company, as the case may be, action on the part of BGS and each Seller. This Agreement
has been duly and validly executed and delivered by BGS and each Seller and constitutes, and the
Shareholder Agreement, upon its execution and delivery by each Seller will constitute, a valid and
binding obligation of BGS or such Seller, as the case may be, enforceable against BGS or such
Seller in accordance with its terms, except to the extent that their enforceability may be subject
to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors&#146; rights generally and to general equitable principles.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.4 <U>Noncontravention</U>. Subject to compliance with the applicable requirements of the
Hart Scott-Rodino Act and applicable foreign Antitrust Laws and the filing of the Certificate of
Merger as required by the Delaware General Corporation Law, neither the execution and delivery by
BGS or any Seller of this Agreement or, in the case of the Sellers, the Shareholder Agreement, nor
the consummation by BGS or any Seller of the transactions contemplated hereby or thereby, will (a)
conflict with or violate any provision of the charter, by-laws or other organizational documents of
any Business Subsidiary or such Seller, (b)&nbsp;require on the part of any Business Subsidiary or such
Seller any notice to or filing with, or any permit, authorization, consent or approval of, any
Governmental Entity, (c)&nbsp;conflict with, result in a breach of, constitute (with or without due
notice or lapse of time or both) a default under, result in the acceleration of obligations under,
create in any party the right to terminate, modify or cancel, or require any notice, consent or
waiver under, any Material Contract to which any Business


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<P align="left" style="font-size: 10pt">Subsidiary, Operating Subsidiary or Seller is a party or by which any Business Subsidiary,
Operating Subsidiary or Seller is bound or to which any of their respective assets is subject, (d)
result in the imposition of any Security Interest upon any assets of any Business Subsidiary or
Operating Subsidiary or (e)&nbsp;violate any order, writ, injunction, decree, statute, rule or
regulation applicable to any Business Subsidiary, Operating Subsidiary or such Seller or any of
their respective properties or assets, except in the case of clauses (b), (c), (d)&nbsp;and (e)&nbsp;above,
for such notice, filing, permit, authorization, consent, approval, conflict, breach, default,
acceleration, right of termination, right of modification, right of cancellation, waiver,
imposition of a Security Interest or violation which would not reasonably be expected to have a
Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 <U>Operating Subsidiaries</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.5(a) of the Disclosure Schedule sets forth: (i)&nbsp;the name of each Operating
Subsidiary; (ii)&nbsp;the number and type of outstanding equity securities of each Operating Subsidiary
and a list of the holders thereof; (iii)&nbsp;the jurisdiction of organization of each Operating
Subsidiary; (iv)&nbsp;the names of the officers and directors of each Operating Subsidiary; and (v)&nbsp;the
jurisdictions in which each Operating Subsidiary is qualified or holds licenses to do business as a
foreign corporation.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each Operating Subsidiary is a corporation duly organized, validly existing and, where
applicable, in good standing under the laws of its jurisdiction of organization. Each Operating
Subsidiary is duly qualified to conduct business and, where applicable, is in good standing under
the laws of each jurisdiction listed in Section&nbsp;2.5(b) of the Disclosure Schedule, which
jurisdictions constitute the only jurisdictions in which the nature of its businesses or the
ownership or leasing of its properties requires such qualification, except for those jurisdictions
in which the failure to be so qualified or in good standing that would not reasonably be expected
to have a Business Material Adverse Effect. Each of the Operating Subsidiaries has all requisite
corporate power and authority to carry on the businesses in which it is engaged and to own and use
the properties owned and used by it. The Parent has made available to the Buyer complete and
accurate copies of the corporate charter, certificate of formation, operating agreement or by-laws,
as the case may be, of each Operating Subsidiary. No Operating Subsidiary is in default under or
in violation of any provision of its corporate charter or by-laws, except for any such default or
violation that would not reasonably be expected to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;All of the issued and outstanding shares of capital stock of each Operating Subsidiary are
duly authorized, validly issued, fully paid, nonassessable and free of preemptive rights. All of
the issued and outstanding shares of stock of each Operating Subsidiary are owned, directly or
indirectly, of record and beneficially by a Business Subsidiary and such Business Subsidiaries have
good title to such stock, free and clear of any Security Interest, contractual restriction or
covenant, option or other adverse claim (whether arising by contract or by operation of law).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;There are no outstanding or authorized options, warrants, rights, agreements or
commitments to which any Seller or any Business Subsidiary is a party or which



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<P align="left" style="font-size: 10pt">are binding upon any Operating Subsidiary, any Seller or any Business Subsidiary providing for
the issuance, disposition or acquisition of any shares of capital stock of any Operating
Subsidiary. There are no outstanding or authorized stock appreciation, phantom stock or similar
rights with respect to any Operating Subsidiary. There are no agreements, voting trusts or proxies
with respect to the voting, or registration under the Securities Act, in respect of the capital
stock of any Operating Subsidiary.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;No Seller or Business Subsidiary controls, directly or indirectly, or has any direct or
indirect equity participation or similar interest in any corporation, partnership, limited
liability company, joint venture, trust or other domestic or foreign business association,
organization or entity that operates any part of the Business which is not a Business Subsidiary or
an Operating Subsidiary.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.6 <U>Financial Statements</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.6(a) of the Disclosure Schedule contains a true and correct copy of (i)&nbsp;the
unaudited pro forma consolidated balance sheet (the &#147;Balance Sheet&#148;) of BGS as of December&nbsp;31, 2004
(the &#147;Balance Sheet Date&#148;) and the related pro forma consolidated statement of results of
operations for the fiscal year ended on such date and (ii)&nbsp;the unaudited pro forma consolidated
balance sheet of BGS as of March&nbsp;31, 2005 (the &#147;Interim Balance Sheet&#148;) and the related pro forma
consolidated statement of results of operations for the three (3)&nbsp;months ended on such date
(collectively, the &#147;Financial Statements&#148;). The Financial Statements fairly present, in all
material respects, the financial condition and the results of the operations of BGS as of the dates
and for the periods indicated. The Financial Statements have been prepared consistently with GAAP,
except for the absence of footnote disclosures and cash flow statements.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Section&nbsp;2.6(b) of the Disclosure Schedule lists, and the Parent has made available to the
Buyer, copies of the documentation creating or governing, all securitization transactions and
&#147;off-balance sheet arrangements&#148; (as defined in Item&nbsp;303(a)(4) of Regulation&nbsp;S-K of the SEC)
effected by the Business since January&nbsp;1, 2004. Section&nbsp;2.6(b) of the Disclosure Schedule lists
all non-audit services performed by the Parent&#146;s auditors for the Business since January&nbsp;1, 2004.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.7 <U>Absence of Certain Changes</U>. Since the Balance Sheet Date, (a)&nbsp;there has occurred
no event or development which has had, or would reasonably be expected to have, a Business Material
Adverse Effect, and (b)&nbsp;no Seller, Business Subsidiary or Operating Subsidiary has taken any of the
actions set forth in paragraphs (a)(i) through (a)(xii) of Section&nbsp;4.3.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.8 <U>Undisclosed Liabilities</U>. No Business Subsidiary or Operating Subsidiary has any
liability (whether known or unknown, whether absolute or contingent, whether liquidated or
unliquidated and whether due or to become due), except for (a)&nbsp;liabilities shown on the Balance
Sheet or the Interim Balance Sheet, (b)&nbsp;liabilities which have arisen since the Balance Sheet Date
in the Ordinary Course of Business, (c)&nbsp;contractual and other liabilities incurred in the Ordinary
Course of Business which are not required by GAAP to be reflected on a balance sheet, and (d)
liabilities that would not reasonably be expect to have a Business Material Adverse Effect.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.9 <U>Tax Matters</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each Business Subsidiary and Operating Subsidiary has properly filed or had filed on its
behalf all U.S. federal income and all other material Tax Returns that it was required to file, and
all such Tax Returns were true, correct and complete in all respects. No Business Subsidiary or
Operating Subsidiary is or has ever been a member of a group of corporations with which it has
filed (or been required to file) consolidated, combined or unitary Tax Returns, other than a group
the common parent of which is Parent. Each Business Subsidiary and Operating Subsidiary has paid
or had paid on its behalf on a timely basis all Taxes that were due and payable and the Parent has
paid all Taxes that were due and payable with respect to all Affiliated Periods. The unpaid Taxes
of each Business Subsidiary and Operating Subsidiary for tax periods through the Balance Sheet Date
do not exceed the accruals and reserves for Taxes (excluding accruals and reserves for deferred
Taxes established to reflect timing differences between book and Tax income) set forth on the
Balance Sheet and all unpaid Taxes of each Business Subsidiary and Operating Subsidiary after the
Balance Sheet Date arise in the Ordinary Course of Business and are of a type and amount
commensurate with Taxes attributable to prior similar periods. No Business Subsidiary or Operating
Subsidiary (i)&nbsp;has any actual or potential liability under Treasury Regulations Section&nbsp;1.1502-6
(or any comparable or similar provision of federal, state, local or foreign law), as a transferee
or successor, pursuant to any material contractual obligation, or otherwise for any Taxes of any
person other than the Business Subsidiaries and the Operating Subsidiaries, or (ii)&nbsp;is a party to
or bound by any material Tax indemnity, Tax sharing, Tax allocation or similar agreement. All
material Taxes that each Business Subsidiary or Operating Subsidiary was required by law to
withhold or collect have been duly withheld or collected and, to the extent required, have been
properly and timely paid to the appropriate Governmental Entity.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Parent has delivered to the Buyer (i)&nbsp;complete and correct copies of all material Tax
Returns of the Business Subsidiaries, the Operating Subsidiaries and any Affiliated Group (but, in
the case of any such Affiliated Group, only the portions of such Tax Returns relating to the
Business Subsidiaries and the Operating Subsidiaries) relating to Taxes for all taxable periods for
which the applicable statute of limitations has not yet expired and (ii)&nbsp;complete and correct
copies of all material private letter rulings, revenue agent reports, information document
requests, notices of proposed deficiencies, deficiency notices, protests, petitions, closing
agreements, settlement agreements, pending ruling requests and any similar documents submitted by,
received by or agreed to by or on behalf of the Business Subsidiaries or the Operating Subsidiaries
or, to the extent related to the income, business, assets, operations, activities or status of any
Business Subsidiary or Operating Subsidiary, submitted by, received by or agreed to by or on behalf
of any Affiliated Group, and relating to Taxes for all taxable periods for which the statute of
limitations has not yet expired. The U.S. federal income Tax Returns of the Parent, each Business
Subsidiary and Operating Subsidiary and each other member of an Affiliated Group have been audited
by the Internal Revenue Service or are closed by the applicable statute of limitations for all
taxable years through the taxable year specified in Section&nbsp;2.9(b) of the Disclosure Schedule. No
examination or audit of any Tax Return of any Seller (solely with respect to the Business), any
Business Subsidiary, Operating Subsidiary or any other member of an Affiliated Group with respect
to an Affiliated Period by any Governmental Entity is currently in progress or, to the knowledge of
the Sellers, has been



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<P align="left" style="font-size: 10pt">threatened in writing. No Seller (solely with respect to the Business), Business Subsidiary,
Operating Subsidiary, or any other member of an Affiliated Group, has been informed in writing by
any jurisdiction that the jurisdiction believes that any Seller, Business Subsidiary, Operating
Subsidiary or any other member of an Affiliated Group was required to file any Tax Return with
respect to the Business that was not filed. No Seller (solely with respect to the Business),
Business Subsidiary, Operating Subsidiary or any other member of an Affiliated Group has (i)&nbsp;waived
any statute of limitations with respect to Taxes or agreed to extend the period for assessment or
collection of any Taxes, (ii)&nbsp;requested any extension of time within which to file any Tax Return,
which Tax Return has not yet been filed, or (iii)&nbsp;executed or filed any power of attorney with any
U.S. federal, state or local Taxing Authority or, to the knowledge of the Sellers, any non-U.S.
Taxing Authority.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No Business Subsidiary or Operating Subsidiary has made any payments, is obligated to make
any payments, or is a party to any agreement that could obligate it to make any payments that may
be treated as an &#147;excess parachute payment&#148; under Section&nbsp;280G of the Code.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;To the knowledge of the Sellers, none of the assets of any Business Subsidiary or
Operating Subsidiary: (i)&nbsp;is property that is required to be treated as being owned by any other
person pursuant to the provisions of former Section&nbsp;168(f)(8) of the Internal Revenue Code of 1954;
(ii)&nbsp;is &#147;tax-exempt use property&#148; within the meaning of Section 168(h) of the Code; (iii)&nbsp;directly
or indirectly secures any debt the interest on which is tax exempt under Section 103(a) of the
Code; or (iv)&nbsp;is subject to a lease under Section 7701(h) of the Code or under any predecessor
section.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;There are no adjustments under Section&nbsp;481 of the Code (or any similar adjustments under
any provision of the Code or the corresponding state or local Tax laws or, to the knowledge of the
Sellers, to the corresponding foreign Tax laws) that are required to be taken into account by any
Business Subsidiary or Operating Subsidiary in any period ending after the Closing Date by reason
of a change in method of accounting in any taxable period ending on or before the Closing Date or
as a result of the consummation of the transactions contemplated by this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;No Business Subsidiary or Operating Subsidiary has been a United States real property
holding corporation within the meaning of Section&nbsp;897(c)(2) of the Code during the applicable
period specified in Section&nbsp;897(c)(l)(A)(ii) of the Code.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;No Business Subsidiary or Operating Subsidiary has distributed to its stockholders or
security holders stock or securities of a controlled corporation, nor has stock or securities of
any Business Subsidiary or Operating Subsidiary been distributed, in a transaction to which Section
355 of the Code applies (i)&nbsp;in the two (2)&nbsp;years prior to the date of this Agreement or (ii)&nbsp;in a
distribution that could otherwise constitute part of a &#147;plan&#148; or &#147;series of related transactions&#148;
(within the meaning of Section 355(e) of the Code) that includes the transactions contemplated by
this Agreement, in either case, other than any distributions which would not result in a material
Tax liability.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;No Business Subsidiary or Operating Subsidiary owns any interest in an entity that the
Parent has treated on its U.S. Tax Returns as a partnership for U.S. federal income Tax purposes.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;To the knowledge of the Sellers, Section&nbsp;2.9(i) of the Disclosure Schedule sets forth each
jurisdiction (other than United States federal) in which any Business Subsidiary or Operating
Subsidiary files, is required to file or has been required to file a Tax Return or is or has been
liable for any material Taxes on a &#147;nexus&#148; basis.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;The Parent has filed a consolidated federal income Tax Return for each of BGS, Bowne
Global Solutions II, Inc., and Bowne Global Solutions, Inc. for the taxable year immediately
preceding the current taxable year, and the Parent is eligible to make a Section&nbsp;338(h)(10)
Election with respect to the transactions contemplated by this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;Other than those Business Benefit Plans that provide equity or equity-type benefits, no
Business Subsidiary or Operating Subsidiary maintains any &#147;nonqualified deferred compensation plan&#148;
(within the meaning of Section&nbsp;409A of the Code) that covers a service provider (as defined in
Internal Revenue Service Notice 2005-1) subject to taxation in the United States.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;To the knowledge of the Sellers, no Business Subsidiary or Operating Subsidiary will be
required to include any item of income in, or exclude any item of deduction from, taxable income
for any period (or any portion thereof) ending after the Closing Date as a result of any: (i)
deferred intercompany gain or any excess loss account described in Treasury Regulations under
Section&nbsp;1502 of the Code (or any corresponding provision of state, local or foreign Tax law); (ii)
closing agreement as described in Section&nbsp;7121 of the Code (or any corresponding or similar
provision of state, local or foreign Tax law) executed on or prior to the Closing Date; (iii)
installment sale or other open transaction disposition made on or prior to the Closing Date; or
(iv)&nbsp;prepaid amount received on or prior to the Closing Date, in each case other than any items
that would not result in a material Tax liability.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;There are no liens or other encumbrances with respect to Taxes upon any of the assets or
properties of any Business Subsidiary or Operating Subsidiary, other than with respect to (i)&nbsp;Taxes
not yet due and payable or (ii)&nbsp;any Taxes being contested in good faith.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;To the knowledge of the Sellers, no Business Subsidiary or Operating Subsidiary is or has
ever been a party to a transaction or agreement that is in conflict with the Tax rules on transfer
pricing in any relevant jurisdiction.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;Section&nbsp;2.9(o) of the Disclosure Schedule sets forth a complete and accurate list of any
Subsidiaries for which a &#147;check-the-box&#148; election under Section&nbsp;7701 has been made.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;To the knowledge of the Sellers, Section&nbsp;2.9(p) of the Disclosure Schedule sets forth a
complete and accurate list of all material agreements, rulings, settlements or other Tax documents
relating to Tax incentives between any Business Subsidiary or Operating subsidiary and a
Governmental Entity.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;Other than as set forth in this Section&nbsp;2.9 and the last sentence of Section&nbsp;2.19, the
Sellers do not make any representation or warranty concerning tax matters.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.10 <U>Ownership and Condition of Assets</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as set forth in Section&nbsp;2.10(a) of the Disclosure Schedule and except for the
failure to have good title to its assets as would not reasonably be expected to have a Business
Material Adverse Effect, each Business Subsidiary and each Operating Subsidiary is the true and
lawful owner, and has good title to, all assets purported to be owned by it, free and clear of all
Security Interests except for Permitted Security Interests.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except for the assets listed on Schedule&nbsp;4.3(c) to be transferred to BGS prior to Closing,
all assets used in the operation of the Business are owned or leased by a Business Subsidiary or an
Operating Subsidiary and such assets are the only assets required for the operation of the Business
as presently conducted.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Section&nbsp;2.10(c) of the Disclosure Schedule lists as of the date of this Agreement
individually (i)&nbsp;all assets of the Business which are fixed assets (within the meaning of GAAP)
whose net book value as of the Balance Sheet Date exceeds $200,000, indicating the cost,
accumulated book depreciation (if any) and the net book value of each such fixed asset as of the
Balance Sheet Date, and (ii)&nbsp;all other individual assets of the Business (other than the Owned Real
Property) of a tangible nature whose net book value as of the Balance Sheet Date exceeds $200,000.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.11 <U>Owned Real Property</U>. Section&nbsp;2.11 of the Disclosure Schedule lists as of the
date of this Agreement the property address and description of all Owned Real Property. With
respect to each piece of Owned Real Property:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;a Business Subsidiary or Operating Subsidiary has the title described in Section&nbsp;2.11 of
the Disclosure Schedule with respect to such Owned Real Property, in each case free and clear of
any Security Interest except for Permitted Security Interests;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;there are no (i)&nbsp;pending or, to the knowledge of the Sellers, threatened condemnation
proceedings relating to such Owned Real Property, (ii)&nbsp;pending or, to the knowledge of the Sellers,
threatened litigation or administrative actions relating to such Owned Real Property, or (iii)
other matters materially affecting adversely the use, occupancy or value of such Owned Real
Property for the operation of the Business, except for any such condemnation proceedings,
litigation or other matters that would not reasonably be expected to have a Business Material
Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;the buildings and improvements may be used under applicable zoning and land use laws for
the operation of the Business as currently conducted, and such buildings and improvements are
located within the boundary lines of the described parcels of land, are not in material violation
of current setback requirements, zoning laws and ordinances and do not encroach on any easement
which may burden the land, except for any such violations or encroachments that would not
reasonably be expected to have a Business Material Adverse Effect;



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;there are no leases, subleases, licenses or agreements, written or oral, granting to any
party or parties (other than the applicable Business Subsidiary or Operating Subsidiary) the right
of use or occupancy of any portion of such Owned Real Property;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;there are no outstanding options or rights of first refusal to purchase such Owned Real
Property, or any portion thereof or interest therein;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;to the knowledge of the Sellers, such Owned Real Property is supplied with utilities and
other services necessary for the current operation of such Owned Real Property, all of which
services are adequate in all material respects for the current operation of the Business; and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;the improvements constructed on such Owned Real Property are in all operating condition.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.12 <U>Real Property Leases</U>. Section&nbsp;2.12 of the Disclosure Schedule lists all Leases
as of the date hereof. The Parent has made available to the Buyer complete and accurate copies of
the Leases. With respect to each Lease:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;such Lease is in full force and effect and is legal, valid, binding, enforceable against
the applicable Business Subsidiary or Operating Subsidiary, and, to the knowledge of the Sellers,
against each other party thereto, except to the extent that such enforcement may be subject to
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors&#146; rights generally and to general equitable principles;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;such Lease will continue to be legal, valid, binding, enforceable and in full force and
effect immediately following the Closing in accordance with the terms thereof as in effect
immediately prior to the Closing except for any such Lease that is terminated prior to the Closing
in accordance with its terms;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;neither the applicable Business Subsidiary or Operating Subsidiary, nor, to the knowledge
of the Sellers, any other party, is in breach or violation of, or default under, any such Lease,
and no event has occurred, is pending or, to the knowledge of the Sellers, is threatened, which,
after the giving of notice, with lapse of time, or otherwise, would constitute a breach or default
by any Business Subsidiary, Operating Subsidiary or, to the knowledge of the Sellers, any other
party under such Lease, other than any such breaches, violations or defaults which would not
reasonably be expected to have a Business Material Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;to the knowledge of the Sellers, there are no disputes, oral agreements or forbearance
programs in effect as to such Lease;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;no Business Subsidiary or Operating Subsidiary has assigned, transferred, conveyed,
mortgaged, deeded in trust or, other than Permitted Security Interests, encumbered any interest in
the leasehold or subleasehold; and



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;to the knowledge of the Sellers, all facilities leased or subleased thereunder are
supplied with utilities and other services adequate for the operation of the Business as currently
conducted at such facilities.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.13 <U>Intellectual Property</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.13(a) of the Disclosure Schedule lists each patent, patent application,
copyright registration or application therefor, and trademark registration, service mark
registration and domain name registration or application therefor owned by the Business
Subsidiaries and Operating Subsidiaries used in the Business as of the date hereof.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except as would not reasonably be expected to have a Business Material Adverse Effect,
each Business Subsidiary and Operating Subsidiary owns or has the right to use all Intellectual
Property necessary to conduct its business, including (i)&nbsp;to use, produce, market and distribute
the Customer Deliverables as currently used, provided, marketed and distributed and (ii)&nbsp;to operate
the Internal Systems as currently operated. The consummation of the transactions contemplated by
this Agreement will not result in the loss or reduction of any rights in any Business Intellectual
Property used by any Business Subsidiary or any Operating Subsidiary. The appropriate Business
Subsidiary or Operating Subsidiary has taken reasonable measures to protect the proprietary nature
of each item of Business Intellectual Property that it owns, and to maintain in confidence all
trade secrets and confidential information, that it owns except where failure to so protect or
maintain would not reasonably be expected to have a Business Material Adverse Effect. No other
person or entity has any rights to any of the Business Intellectual Property owned by any Business
Subsidiary or Operating Subsidiary (except pursuant to agreements or licenses specified in Section
2.13(d) of the Disclosure Schedule and other non-exclusive licenses entered into in the Ordinary
Course of Business), and, to the knowledge of the Sellers, no person or entity is infringing or
misappropriating any of the Business Intellectual Property owned by the Business Subsidiaries and
Operating Subsidiaries, except as would not reasonably be expected to have a Business Material
Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;None of the Customer Deliverables as currently used, produced, marketed and distributed by
the Business Subsidiaries infringes or constitutes a misappropriation of, any Intellectual Property
rights of any person or entity, except as would not reasonably be expected to have a Business
Material Adverse Effect. Neither the conduct of the Business nor any of the Internal Systems, or
the use thereof, infringes, or constitutes a misappropriation of, any Intellectual Property rights
of any person or entity, except as would not reasonably be expected to have a Business Material
Adverse Effect. Section&nbsp;2.13(c) of the Disclosure Schedule lists as of the date hereof any written
complaint, written claim or written notice, or written threat thereof, received by any Seller or
Business Subsidiary alleging any such infringement or misappropriation that would reasonably be
expected to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Section&nbsp;2.13(d) of the Disclosure Schedule identifies each material license or other
material agreement pursuant to which any Business Subsidiary or Operating Subsidiary has licensed
or otherwise granted any rights to any third party with respect to, any Business Intellectual
Property (excluding licenses for off-the-shelf software, &#147;shrink-wrap&#148; and &#147;clickwrap&#148; licenses).
Except (i)&nbsp;as described in Section&nbsp;2.13(d) of the Disclosure Schedule and



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;as provided in customer contracts entered into in the Ordinary Course of Business, no
Business Subsidiary or Operating Subsidiary has agreed to indemnify any person or entity against
any infringement, violation or misappropriation of any Intellectual Property rights.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Section&nbsp;2.13(e) of the Disclosure Schedule identifies each material license or other
material agreement pursuant to which any Business Subsidiary or Operating Subsidiary has licensed
or otherwise been granted any rights by any third party in or to any Business Intellectual Property
(excluding licenses for off-the-shelf software, &#147;shrink-wrap&#148; and &#147;clickwrap&#148; licenses).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Business Subsidiaries and the Operating Subsidiaries have obtained assignments from
each third party developing copyrightable material used in any Customer Deliverables or Internal
Systems where the copyrightable materials are not otherwise licensed by the applicable Business
Subsidiary or Operating Subsidiary and where the ownership of such copyrightable materials does not
otherwise vest by operation of law.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.14 <U>Contracts</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.14 of the Disclosure Schedule lists the following material Contracts to which
any Business Subsidiary or Operating Subsidiary is a party, as of the date of this Agreement
pursuant to which they have any rights or obligations as of the date hereof (each such Contract,
and each material Lease, each material Contract for Business Intellectual Property (other than
licenses for off-the-shelf software, &#147;shrink-wrap&#148; and &#147;clickwrap&#148; licenses) and each material
Government Contract, a &#147;Material Contract&#148;):



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;each Contract for the lease of personal property from or to third parties requiring annual
payments in excess of $200,000;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;each Contract for the purchase of products or for the receipt of services which involves
annual payments in excess of $200,000;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;each Contract with any customer of the Business that accounted for more than $1,000,000
of gross sales of the Business for the year ended December&nbsp;31, 2004;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;each Contract with (A)&nbsp;any customer of the Business that accounted for more than
$1,000,000 of gross sales of the Business for the year ended December&nbsp;31, 2004 in which any
Business Subsidiary or Operating Subsidiary has granted &#147;most favored nation&#148; pricing provisions
and (B)&nbsp;to the knowledge of the Sellers (including, for this purpose only, inquiry of each country
manager (or equivalent position) of each Business Subsidiary and each Operating Subsidiary), any
other customer of the Business which is also a customer of the Buyer listed in the Buyer&#146;s Annual
Report on Form 10-K for the fiscal year ended December&nbsp;31, 2004 in which any Business Subsidiary or
Operating Subsidiary has granted &#147;most favored nation&#148; pricing provisions;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;each Contract concerning the establishment or operation of a partnership, joint venture or
limited liability company, but excluding any such Contract with an Affiliate that shall be
terminated in accordance with the provisions of Section&nbsp;4.10 hereof;


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;each Contract under which any Business Subsidiary or Operating Subsidiary has created,
incurred, assumed or guaranteed (or may create, incur, assume or guarantee) Indebtedness (other
than intercompany Indebtedness) or under which any Business Subsidiary or Operating Subsidiary has
granted a Security Interest (other than in respect of intercompany Indebtedness) on any of its
material assets, tangible or intangible, other than any Permitted Security Interest or purchase
money security interest of $200,000 or less (or similar arrangement under foreign law);


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;each Contract for the disposition of any material portion of the assets or business of
any Business Subsidiary or Operating Subsidiary (other than sales of services in the Ordinary
Course of Business and the disposition of other assets no longer used in the Business in the
Ordinary Course of Business) and each Contract for the acquisition of the assets or business of any
other entity entered into after December&nbsp;31, 2001;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;each Contract (A)&nbsp;with any customer of the Business that accounted for more than
$1,000,000 of gross sales of the Business for the year ended December&nbsp;31, 2004 containing a
noncompetition obligation, (B)&nbsp;with any other customer of the Business containing a noncompetition
obligation, which noncompetition obligation may not be terminated without penalty effective on a
date that is within three (3)&nbsp;months or less after notice or (C)&nbsp;with respect to any Business
Intellectual Property containing a noncompetition obligation that would limit the right of the
Buyer or any of its Affiliates or any Business Subsidiary or Operating Subsidiary to freely engage
in the Business, which noncompetition obligation may not be terminated without penalty effective on
a date that is within three (3)&nbsp;months or less after notice;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;each Contract, other than a customer Contract, concerning confidentiality,
noncompetition, non-solicitation or non-hiring not entered into in the Ordinary Course of Business
which is in effect on the date of this Agreement;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;any employment or consulting Contract requiring annual payments by a Business Subsidiary
or Operating Subsidiary in excess of $100,000 or otherwise entered into outside of the Ordinary
Course of Business;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;each settlement Contract, compromise Contract or release of claims entered into within
one (1)&nbsp;year prior to the date of this Agreement with any current or former Business Employee,
executive officer or director of any Business Subsidiary or Operating Subsidiary requiring a
payment in excess of $100,000 to such Business Employee, executive officer or director;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;each Contract which contains any provisions requiring any Business Subsidiary or
Operating Subsidiary to indemnify any other party (excluding indemnities contained in such Business
Subsidiary&#146;s or Operating Subsidiary&#146;s standard terms and conditions for services entered into in
the Ordinary Course of Business, in any employment or consulting Contract entered into in the
Ordinary Course of Business, and other Contracts entered into in the Ordinary Course of Business);


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)&nbsp;each Contract with language vendors (whether individuals or entities), with a term
equal to or greater than one (1)&nbsp;year that are not cancellable without penalty on sixty (60)&nbsp;days
or less advance notice and require payments in excess of $100,000;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)&nbsp;each other Contract (or group of related Contracts) requiring annual payments by a
Business Subsidiary or Operating Subsidiary in excess of $200,000 not entered into in the Ordinary
Course of Business; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)&nbsp;each Contract not listed in items (i)&nbsp;through (xiv)&nbsp;above under which, to the knowledge
of the Sellers, the consequences of a default or termination would reasonably be expected to have a
Business Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Parent has made available to the Buyer a complete and accurate copy of each Contract
listed in Section&nbsp;2.13 or Section&nbsp;2.14 of the Disclosure Schedule. With respect to each Contract
so listed: (i)&nbsp;the Contract is legal, valid, binding and enforceable and in full force and effect
against the applicable Business Subsidiary or Operating Subsidiary, and, to the knowledge of the
Sellers, against each other party thereto, except to the extent that such enforcement may be
subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors&#146; rights generally and to general equitable principles; (ii)&nbsp;the
Contract will continue to be legal, valid, binding and enforceable and in full force and effect
immediately following the Closing in accordance with the terms thereof (subject to any change in
control provisions set forth therein) as in effect immediately prior to the Closing except for
Contracts terminated prior to the Closing in accordance with their terms; and (iii)&nbsp;no Business
Subsidiary or Operating Subsidiary nor, to the knowledge of the Sellers, any other party, is in
breach or violation of, or default under, any such agreement, and no event has occurred, is pending
or, to the knowledge of the Sellers, is threatened, which, after the giving of notice, with lapse
of time, or otherwise, would constitute a breach or default by any Business Subsidiary, Operating
Subsidiary or, to the knowledge of the Sellers, any other party under such agreement, other than
any such breaches, violations or defaults which would not reasonably be expected to have a Business
Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.15 <U>Litigation</U>. There is no Legal Proceeding pending or, to the knowledge of the
Sellers, threatened with respect to the Business or which in any manner challenges or seeks to
prevent, enjoin, alter or delay the transactions contemplated by this Agreement. There are no
judgments, orders, awards or decrees outstanding with respect to the Business against any Seller,
Business Subsidiary or Operating Subsidiary that would reasonably be expected to have a Business
Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.16 <U>Employees</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.16(a) of the Disclosure Schedule contains a list of all Business Employees as of
the date of this Agreement, along with (i)&nbsp;in the case of Business Employees who reside in the
United States, corresponding position, work location, and the annual rate of compensation of each
such person, together with like details in relation to any person who has an outstanding offer of
employment with any Business Subsidiary or Operating Subsidiary or who has accepted an offer of
employment but not yet commenced employment with such Business Subsidiary or Operating Subsidiary
and (ii)&nbsp;in the case of all other Business Employees, a



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<P align="left" style="font-size: 10pt">summary, not identified by employee name, setting forth the position, work location, and the
annual rate of compensation of each such person, together with like details in relation to any
person who has an outstanding offer of employment with any Business Subsidiary or Operating
Subsidiary or who has accepted an offer of employment but not yet commenced employment with such
Business Subsidiary or Operating Subsidiary. Prior to the Closing, each current Business Employee
will be bound by a written confidentiality obligation with a Seller, its parent, or a Business
Subsidiary or Operating Subsidiary. Each Business Employee who performs research and development
activities relating to any Business Intellectual Property has entered into an assignment of
inventions agreement with a Business Subsidiary or Operating Subsidiary. Section&nbsp;2.16 of the
Disclosure Schedule contains a list of all Business Employees having a position of country manager,
regional manager, vice president or higher (the &#147;Senior Executives&#148;) who are a party to a
non-competition, non-solicitation, change of control or retention agreement with a Business
Subsidiary or Operating Subsidiary; copies of such agreements have previously been made available
to the Buyer. To the knowledge of the Sellers, no Senior Executive has any plans to terminate
employment with any Business Subsidiary or Operating Subsidiary. No Business Subsidiary or
Operating Subsidiary has plans to terminate, the employment of any Senior Executive.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;No Business Subsidiary or Operating Subsidiary is a party to or bound by any collective
bargaining agreement or similar agreement with any trade union, works council or other group of
employee representatives, nor has any of them experienced any strikes, grievances, claims of unfair
labor practices or other collective bargaining disputes in the last twelve (12)&nbsp;months other than
any such strikes, grievances, claims or disputes that would not reasonably be expected to have a
Business Material Adverse Effect. To the knowledge of the Sellers, no organizational efforts have
been made or threatened, either currently or within the past twelve (12)&nbsp;months, by or on behalf of
any labor union, works council or other grouping of employees seeking trade union recognition or
the establishment of a works council or other representative body with respect any of the Business
Employees.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No Business Subsidiary or Operating Subsidiary will have any liability on the Closing Date
to any present or former Business Employee consultant, officer or director, or any representative
of the same, to pay compensation, damages, a redundancy payment, a protective award, a severance
payment or any other payment in excess of $100,000 to any such person or $1,000,000 in the
aggregate, other than amounts due in the Ordinary Course of Business under an employment or
consulting Contract, and to the knowledge of the Sellers, no such claims have been threatened or
are pending.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;No Business Subsidiary or Operating Subsidiary has any obligation to make any payments on
redundancy in excess of any statutory redundancy pay or other payments mandated by applicable law
and no Business Subsidiary or Operating Subsidiary has operated any discretionary practice of
making any such excess payments or introduced any policy to do so.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17 <U>Employee Benefits</U>.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.17(a) of the Disclosure Schedule contains a complete and accurate list of all
Business Benefit Plans. Complete and accurate copies of (i)&nbsp;all Business Benefit Plans which have
been reduced to writing, (ii)&nbsp;written summaries of all unwritten Business Benefit Plans, (iii)&nbsp;all
trust agreements, insurance contracts and summary plan descriptions related to any Business Benefit
Plans, (iv)&nbsp;all descriptions of plans offering equity securities of Parent and related
prospectuses, (v)&nbsp;in the case of a plan qualified under Code Section&nbsp;401(a), a copy of the most
recent IRS determination letter for such plan, (vi)&nbsp;the five most recent annual reports filed on
IRS Form&nbsp;5500, together with all attachments and (vii)&nbsp;all plan financial statements for the last
five (5)&nbsp;plan years for each Business Benefit Plan, have been made available to the Buyer.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each Business Benefit Plan maintained by a Business Subsidiary or Operating Subsidiary has
been administered in all material respects in accordance with its terms and each Business
Subsidiary or Operating Subsidiary has in all material respects met its obligations with respect to
each such Business Benefit Plan and has timely made all required premium payments or contributions
thereto. All filings and reports as to each such Business Benefit Plan required to have been
submitted to the Internal Revenue Service, to the United States Department of Labor, to the Pension
Benefit Guaranty Corporation or any other regulatory foreign or domestic agency have been duly
submitted.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No Business Benefit Plan has assets that include securities issued by the Parent or any
Business Subsidiary, Operating Subsidiary or ERISA Affiliate.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Except as would not reasonably be expected to have a Business Material Adverse Effect, (i)
there are no Legal Proceedings (except claims for benefits payable in the normal operation of the
Business Benefit Plans and proceedings with respect to qualified domestic relations orders) against
or involving any Business Benefit Plan or asserting any rights or claims to benefits under any
Business Benefit Plan that could give rise to any material liability and (ii)&nbsp;no Business Benefit
Plan is, or within the last three (3)&nbsp;years has been, the subject of an examination or audit by a
Governmental Entity, is subject of an application or filing under, or is a participant in, a
government-sponsored amnesty, voluntary compliance, self-correction or similar program.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;All the Business Benefit Plans that are intended to be qualified under Section 401(a) of
the Code are so qualified and have received determination letters from the Internal Revenue Service
to the effect that such Business Benefit Plans are qualified under Section 401(a) of the Code, no
such determination letter has been revoked and to the knowledge of the Sellers revocation has not
been threatened, and to the knowledge of the Sellers no act or omission has occurred, that would
adversely affect its qualification or materially increase its cost. No such plan has experienced a
termination or partial termination. Each Business Benefit Plan which is required to satisfy
Section&nbsp;401(k)(3) or Section&nbsp;401(m)(2) of the Code has been tested for compliance with, and
satisfies the requirements of Section&nbsp;401(k)(3) and Section&nbsp;401(m)(2) of the Code for each plan
year ending prior to the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Except as provided in Section&nbsp;2.17(f) of the Disclosure Schedule, no Seller, Business
Subsidiary, Operating Subsidiary or ERISA Affiliate has ever maintained an



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<P align="left" style="font-size: 10pt">Employee Benefit Plan subject to Section&nbsp;412 of the Code or Title IV of ERISA. In the case
of each Business Benefit Plan subject to Section&nbsp;412 of the Code or Title IV of ERISA, (i)&nbsp;as of
the most recent annual actuarial valuation of the Bowne Pension Plan, the accumulated benefit
obligation as determined for purposes of Financial Accounting Standard 87 was $85,411,860 and the
fair value of plan assets was $63,267,959, and (ii)&nbsp;no &#147;reportable event&#148; (as that term is defined
in Section&nbsp;4043 of ERISA), other than any such event for which the reporting requirements have been
waived by regulation, has occurred. No event has occurred that could subject Seller, any Business
Subsidiary, Operating Subsidiary, ERISA Affiliate or Buyer to liability under Sections&nbsp;4062, 4063
or 4064 of ERISA.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;At no time has any Seller, Business Subsidiary, Operating Subsidiary or ERISA Affiliate
been obligated to contribute to any &#147;multiemployer plan&#148; (as defined in Section&nbsp;4001(a)(3) of
ERISA).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;Other than any statutory obligations or other obligations mandated by law, there are no
obligations under any Business Benefit Plan maintained by a Business Subsidiary or Operating
Subsidiary that could give rise to a liability to Buyer or any of its Affiliates, providing
benefits after termination of employment to any Business Employee (or to any beneficiary of any
such employee), including but not limited to retiree health coverage and deferred compensation, but
excluding (i)&nbsp;continuation of health coverage required to be continued under Section&nbsp;4980B of the
Code or other applicable law and insurance conversion privileges under state law, but only to the
extent such continuation coverage is provided solely at the participant&#146;s expense, (ii)&nbsp;obligations
under a Business Benefit Plan intended to be qualified under Code Section 401(a) or (iii)
obligations under a Business Benefit Plan that provides equity or equity-type benefits.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;Except as would not reasonably be expected to have a Business Material Adverse Effect,
there are no material benefit obligations for which contributions have not been made or properly
accrued and there are no benefit obligations which have not been accounted for by reserves, or
otherwise properly footnoted in accordance with GAAP, on the Financial Statements. There is no
liability for benefits (contingent or otherwise) under any Business Benefit Plan, except as set
forth in the Financial Statements. The assets of each Business Benefit Plan which is funded are
reported at their fair market value on the books and records of such plan.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;No act or omission has occurred and no condition exists with respect to any Business
Benefit Plan that would subject any Seller, Business Subsidiary, Operating Subsidiary, ERISA
Affiliate or Buyer or any of Buyer&#146;s Affiliates to (i)&nbsp;any fine, penalty, Tax or liability of any
kind imposed under ERISA or the Code or (ii)&nbsp;any contractual indemnification or contribution
obligation protecting any fiduciary, insurer or service provider with respect to any Business
Benefit Plan, nor will any of the transactions contemplated by this Agreement give rise to such an
obligation, which in any event, would be reasonably expected to have a Business Material Adverse
Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;No Business Benefit Plan is funded by, associated with or related to a &#147;voluntary
employee&#146;s beneficiary association&#148; within the meaning of Section&nbsp;501(c)(9) of the Code.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;Each Business Benefit Plan maintained by a Business Subsidiary or Operating Subsidiary
that is established or maintained in the United States is amendable and terminable unilaterally by
a Seller, Business Subsidiary or Operating Subsidiary, as applicable, at any time without liability
or expense to such Seller, Business Subsidiary, Operating Subsidiary or such Business Benefit Plan
as a result thereof (other than for benefits accrued through the date of termination or amendment
and reasonable administrative expenses related thereto) and no Business Benefit Plan, plan
documentation or agreement, summary plan description or other written communication distributed
generally to employees by its terms prohibits any Seller, Business Subsidiary or Operating
Subsidiary from amending or terminating any such Business Benefit Plan.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;There is no agreement with any stockholder, director, executive officer or other key
Business Employee (i)&nbsp;the benefits of which are contingent, or the terms of which are altered, upon
the occurrence of a transaction involving any Seller, Business Subsidiary or Operating Subsidiary
of the nature of any of the transactions contemplated by this Agreement, (ii)&nbsp;providing any term of
employment or compensation guarantee, (iii)&nbsp;providing severance benefits or other benefits after
the termination of employment of such director, executive officer or key Business Employee or (iv)
providing any &#147;tax gross up&#148; payment for individual income, employment or excise taxes. There is
no agreement or plan binding any Seller, Business Subsidiary or Operating Subsidiary, including any
stock option plan, stock appreciation right plan, restricted stock plan, stock purchase plan,
severance benefit plan or Business Benefit Plan, any of the benefits of which will be increased, or
the vesting or payment of the benefits of which will be accelerated, by the occurrence of any of
the transactions contemplated by this Agreement or the value of any of the benefits of which will
be calculated on the basis of any of the transactions contemplated by this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)&nbsp;Section&nbsp;2.17(n) of the Disclosure Schedule sets forth the sick, vacation and annual time
off policy with respect to the Business Employees, or any group of Business Employees and
identifies the amount of liabilities as of December&nbsp;31, 2004.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)&nbsp;Each individual who has received compensation for the performance of services related to
the Business on behalf of any Seller, Business Subsidiary, Operating Subsidiary or ERISA Affiliate
has been properly classified as an employee or independent contractor in accordance with applicable
law except where the failure to be properly classified would not reasonably be expected to have a
Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)&nbsp;There are no loans or extensions of credit from any Seller, Business Subsidiary or
Operating Subsidiary to any Business Employee.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)&nbsp;No Seller, Business Subsidiary, Operating Subsidiary or any of their respective Affiliates
has any Contract to create any additional Business Benefit Plans or to modify any existing Business
Benefit Plans with respect to employees of the Business, except in the Ordinary Course of Business



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)&nbsp;Each Seller, Business Subsidiary and Operating Subsidiary has at all times complied with
all applicable obligations under Section&nbsp;3 of the United Kingdom&#146;s Welfare



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<P align="left" style="font-size: 10pt">Reform and Pensions Act 1999 and all regulations made thereunder in connection with
stakeholder pension arrangements.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)&nbsp;Other than as set forth in this Section&nbsp;2.17, the Sellers do not make any representation
or warranty concerning employee benefit plans.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.18 <U>Environmental Matters</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each Business Subsidiary and Operating Subsidiary is in compliance with all applicable
Environmental Laws other than any failure to comply as would not reasonably be expected to have a
Business Material Adverse Effect. There is no pending or, to the knowledge of the Sellers,
threatened civil or criminal litigation, written notice of violation, formal administrative
proceeding, or investigation, inquiry or information request by any Governmental Entity, relating
to any Environmental Law involving any Business Subsidiary or Operating Subsidiary, other than any
such litigation, violation, proceeding, investigation or inquiry that would not reasonably be
expected to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;No Business Subsidiary or Operating Subsidiary has any liabilities or obligations arising
from the release of any Materials of Environmental Concern into the environment in violation of
applicable law, other than any such liabilities or obligations that would not reasonably be
expected to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;No Business Subsidiary or Operating Subsidiary is a party to or bound by any court order,
administrative order, consent order or other agreement with any Governmental Entity entered into in
connection with any legal obligation or liability arising under any Environmental Law.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Other than as set forth in this Section&nbsp;2.18, the Sellers do not make any representation
or warranty with respect to environmental matters.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.19 <U>Legal Compliance</U>. Each Business Subsidiary and Operating Subsidiary is currently
conducting, and has at all times within the past twelve (12)&nbsp;months conducted, the Business in
compliance with each applicable law (including rules and regulations thereunder) of any
Governmental Entity, except for any violations or defaults that have not had and would not
reasonably be expected to have a Business Material Adverse Effect. No Business Subsidiary or
Operating Subsidiary nor any of their respective directors, officers, agents or employees or any
other person acting for or on behalf of any of them has, directly or indirectly, (i)&nbsp;within the
past twelve (12)&nbsp;months used funds, in connection with the Business, for any illegal purpose or in
violation of any law, including, without limitation, the making of any unlawful payment,
contribution, bribe or kickback to any person affiliated with any political party or government,
except for such illegal actions or violations of law that have not had and would not reasonably be
expected to have a Business Material Adverse Effect or (ii)&nbsp;to the knowledge of the Sellers, at any
time used funds, in connection with the Business, for any illegal purpose or in violation of any
law, including, without limitation, the making of any unlawful payment, contribution, bribe or
kickback to any person affiliated with any political party or government, except for such illegal
actions or violations of law that have not had and would not reasonably be expected to have a
Business Material Adverse Effect. No Business Subsidiary or Operating Subsidiary (I)


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<P align="left" style="font-size: 10pt">has within the past twelve (12)&nbsp;months violated any law concerning the export or re-export of
any products or services or the prohibited boycott of any country, except for any violations that
have not had and would not reasonably be expected to have a Business Material Adverse Effect or
(II)&nbsp;has, to the knowledge of the Sellers, at any time violated any law concerning the export or
re-export of any products or services or the prohibited boycott of any country, except for any
violations that have not had and would not reasonably be expected to have a Business Material
Adverse Effect. To the knowledge of the Sellers, no Business Subsidiary or Operating Subsidiary
has ever participated in an international boycott as defined in Section&nbsp;999 of the Code.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.20 <U>Permits</U>. Section&nbsp;2.20 of the Disclosure Schedule sets forth a list of all
material Permits issued to or held by any Business Subsidiary or Operating Subsidiary as of the
date hereof. Such listed Permits are the only Permits that are required for the Business
Subsidiaries and the Operating Subsidiaries to conduct the Business as presently conducted by the
Sellers, other than the failure to possess any Permit as would not reasonably be expected to have a
Business Material Adverse Effect. Each such Permit is in full force and effect; the applicable
Business Subsidiary or Operating Subsidiary is in compliance with the terms of each such Permit;
and, to the knowledge of the Sellers, no suspension or cancellation of such Permit is threatened
and there is no basis for believing that such Permit will not be renewable upon expiration, other
than, in each case, where the failure to be in full force and effect, in compliance therewith, or
any suspension or cancellation thereof, would not reasonably be expected to have a Business
Material Adverse Effect. Other than as would not reasonably be expected to have a Business
Material Adverse Effect and other than any such Permit that expires in accordance with its terms
prior to the Closing, each Permit held by the Business Subsidiaries and the Operating Subsidiaries
will continue in full force and effect immediately following the Closing.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.21 <U>Certain Business Relationships With Affiliates</U>. No Affiliate of any Seller,
Business Subsidiary or Operating Subsidiary (a)&nbsp;owns any material property or right, tangible or
intangible, which is used in the Business, (b)&nbsp;has any material claim or cause of action against
any Business Subsidiary or Operating Subsidiary, or (c)&nbsp;owes any money to, or is owed any money by,
any Business Subsidiary or Operating Subsidiary other than (i)&nbsp;intercompany borrowings incurred in
the Ordinary Course of Business and (ii)&nbsp;the provision of corporate overhead type services (such
as, without limitation, legal, accounting and employee benefits) on an arms-length basis incurred
in the Ordinary Course of Business. Section&nbsp;2.21 of the Disclosure Schedule lists as of the date
hereof each material Contract between any Business Subsidiary and any Seller or Affiliate.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.22 <U>Brokers&#146; Fees</U>. Other than with respect to Goldman, Sachs &#038; Co., no Seller,
Business Subsidiary or Operating Subsidiary has any liability or obligation to pay any fees or
commissions to any broker, finder or agent with respect to the transactions contemplated by this
Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.23 <U>Accounts Receivable</U>. All accounts receivable of the Business reflected on the
Interim Balance Sheet (other than those paid since such date) are valid receivables subject to no
setoffs or counterclaims. A complete and accurate list of the accounts receivable reflected on the
Interim Balance Sheet, showing the aging thereof, is included in Section&nbsp;2.23 of the Disclosure


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<P align="left" style="font-size: 10pt">Schedule. All accounts receivable of the Business that have arisen since the date of the
Interim Balance Sheet are valid receivables subject to no setoffs or counterclaims. No Seller,
Business Subsidiary or Operating Subsidiary has received any written notice from an account debtor
stating that any account receivable in an amount in excess of $100,000 is subject to any contest,
claim or setoff by such account debtor.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.24 <U>Insurance</U>. Section&nbsp;2.24 of the Disclosure Schedule lists each material insurance
policy (including fire, theft, casualty, commercial general liability, workers compensation,
employer&#146;s liability, business interruption, environmental, product liability and automobile
insurance policies and bond and surety arrangements) relating to the Business to which a Seller,
Business Subsidiary or Operating Subsidiary is a party as of the date hereof, all of which are in
full force and effect. There is no material claim pending under any such policy as to which
coverage has been denied or disputed by the underwriter of such policy. All premiums due and
payable under all such policies have been paid, to the knowledge of the Sellers, no Seller,
Business Subsidiary or Operating Subsidiary may be liable for retroactive premiums or similar
payments, and the Sellers, Business Subsidiaries and Operating Subsidiaries are otherwise in
compliance in all material respects with the terms of such policies. To the knowledge of the
Sellers, there are no threatened termination of, or premium increase with respect to, any such
policy.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.25 <U>Warranties</U>. To the knowledge of the Sellers, no customer of any Business
Subsidiary or Operating Subsidiary has any credit or has asserted orally or in writing a right to a
credit in an amount in excess of $100,000 with respect to goods or services previously provided to
such customer by such Business Subsidiary or Operating Subsidiary.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.26 <U>Customers</U>. Section&nbsp;2.26 of the Disclosure Schedule sets forth a list of each
customer of the Business that accounted for more than $1,000,000 of gross sales of the Business for
the twelve (12)&nbsp;month period ended December&nbsp;31, 2004. No such customer has indicated in writing
or, to the knowledge of the Sellers, orally, within the past twelve (12)&nbsp;months that it will stop,
or materially decrease the rate, outside of the Ordinary Course of Business, of buying services
from the Business.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.27 <U>Powers of Attorney</U>. There are no outstanding powers of attorney relating to the
Business executed on behalf of any Business Subsidiary or Operating Subsidiary.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28 <U>Books and Records</U>. The minute books and other similar records of each Business
Subsidiary and Operating Subsidiary contain complete and accurate records of all actions taken at
any meetings of such Business Subsidiary&#146;s or Operating Subsidiary&#146;s stockholders, board of
directors or any committee thereof and of all written consents executed in lieu of the holding of
any such meeting since September&nbsp;1, 2002 except for any failure to be complete or accurate that
would not reasonably be expected to have a Business Material Adverse Effect. Section&nbsp;2.28 of the
Disclosure Schedule contains a list as of the date hereof of all bank accounts and safe deposit
boxes of each Business Subsidiary and Operating Subsidiary and the names of persons having
signature authority with respect thereto or access thereto.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.29 <U>Controls and Procedures</U>.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as set forth in the Parent SEC Reports, each Business Subsidiary and Operating
Subsidiary maintains accurate books and records reflecting its assets and liabilities and maintains
proper and adequate internal accounting controls (i)&nbsp;which provide assurance that (A)&nbsp;transactions
are executed with management&#146;s authorization and (B)&nbsp;transactions are recorded as necessary to
permit preparation of the financial statements of the Business and to maintain accountability for
the assets of the Business and (ii)&nbsp;are designed to provide assurance that (C)&nbsp;access to assets of
the Business is permitted only in accordance with management&#146;s authorization and (D)&nbsp;accounts,
notes and other receivables were recorded accurately, and proper and adequate procedures are
implemented to effect the collection thereof on a current and timely basis.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Except as set forth in the Parent SEC Reports, each Business Subsidiary and Operating
Subsidiary maintains disclosure controls and procedures that are effective to ensure that all
material information concerning the Business is made known on a timely basis to the individuals
responsible for the preparation of the financial statements of the Business. Section&nbsp;2.29(b) of
the Disclosure Schedule lists, and the Parent has made available to the Buyer, copies of all
written descriptions of, and all policies, manuals and other documents promulgating, such
disclosure controls and procedures.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30 <U>Government Contracts</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Section&nbsp;2.30(a)(i) of the Disclosure Schedule sets forth a complete and accurate list of
all Material Contracts that are Government Contracts.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;No Business Subsidiary or Operating Subsidiary is, as of the date of this Agreement, or
has at any time since September&nbsp;1, 2002 been, suspended, debarred, or otherwise excluded from
eligibility for Government Contracts or subject to any written threat or written proposal for such
suspension, debarment or exclusion.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;There are no pending or threatened protests in writing challenging the award of any
Material Contract that is a Government Contract awarded to any Business Subsidiary or Operating
Subsidiary; no pending or threatened written claims against any Business Subsidiary or Operating
Subsidiary arising out of or relating to any Government Contract; and no pending claims in writing,
or to the knowledge of the Sellers, planned or anticipated claims by any Business Subsidiary or
Operating Subsidiary against any Governmental Entity, prime contractor or subcontractor arising out
of or relating to any Government Contract except for any such protests or claims that would not
reasonably be expected to have a Business Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;There are no pending in writing indictments, civil or criminal investigations, or audits
by any Governmental Entity (including without limitation the U.S. Department of Justice, Government
Accountability Office, Defense Contract Audit Agency, Office of Federal Contract Compliance
Programs, any Inspector General, or any other auditing or investigatory component of any
contract-issuing Governmental Entity) with respect to any Material Contract that is a Government
Contract. To the knowledge of the Sellers, no such investigations or audits have been threatened.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;There is no Business Intellectual Property constituting either (i)&nbsp;a subject invention (as
defined at 35 U.S.C. &#167;201(e)) made or first actually reduced to practice in the performance of work
under a Government Contract, or (ii)&nbsp;technical data, computer software, or computer software
documentation first produced in the performance of a Government Contract.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.31 <U>Investment Representation</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Bowne New York is acquiring the Buyer Shares for its own account for investment only, and
not with a view to, or for sale in connection with, any distribution of such Buyer Shares in
violation of the Securities Act, or any applicable state law.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Bowne New York has had adequate opportunity to obtain from publicly available sources or
from representatives of the Buyer such information, in addition to the representations set forth in
this Agreement, as is necessary to evaluate the merits and risks of Bowne New York&#146;s investment in
the Buyer.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Bowne New York is an &#147;accredited investor&#148; as defined in Rule 501(a) of the Securities Act
and has sufficient experience in business, financial and investment matters to be able to evaluate
the risks involved in the acquisition of the Buyer Shares to be issued to Bowne New York and to
make an informed investment decision with respect to such investment. Bowne New York is capable of
bearing the economic risk of Bowne New York&#146;s investment in the Buyer Shares indefinitely.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Bowne New York agrees and understands that the Buyer Shares have not been registered under
the Securities Act and are &#147;restricted securities&#148; within the meaning of Rule&nbsp;144 under the
Securities Act; and that the Buyer Shares cannot be sold, transferred or otherwise disposed of
unless they are subsequently registered under the Securities Act or an exemption from registration
is then available.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;Bowne New York agrees and understands that a legend substantially in the following form
will be placed on the certificate representing the Buyer Shares.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;The shares represented by this certificate have not been registered under the Securities Act
of 1933, as amended, and may not be sold, transferred or otherwise disposed of in the absence of an
effective registration statement under such Act or an opinion of counsel satisfactory to the
corporation to the effect that such registration is not required.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.32 <U>Exclusivity of Representations</U>. THE REPRESENTATIONS AND WARRANTIES MADE BY
SELLERS IN THIS ARTICLE II ARE THE EXCLUSIVE REPRESENTATIONS AND WARRANTIES MADE BY SELLERS WITH
RESPECT TO BGS AND ITS SUBSIDIARIES. SELLERS HEREBY DISCLAIM ANY OTHER EXPRESS OR IMPLIED
REPRESENTATIONS OR WARRANTIES WITH RESPECT TO BGS OR ANY OF ITS SUBSIDIARIES. EXCEPT AS EXPRESSLY
PROVIDED IN THIS ARTICLE II, THE SELLERS ARE NOT, DIRECTLY OR INDIRECTLY, MAKING ANY
REPRESENTATIONS OR WARRANTIES REGARDING ANY PRO-FORMA FINANCIAL INFORMATION OR FINANCIAL
PROJECTIONS WITH RESPECT TO BGS OR ANY OF ITS SUBSIDIARIES.


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<P align="center" style="font-size: 10pt"><B>ARTICLE III</B>



<P align="center" style="font-size: 10pt"><B>REPRESENTATIONS AND WARRANTIES OF THE BUYER</B>



<P align="center" style="font-size: 10pt"><B>AND THE TRANSITORY SUBSIDIARY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Buyer and the Transitory Subsidiary jointly and severally represent and warrant to BGS and
the Sellers as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1 <U>Organization, Qualification and Corporate Power</U>. Each of the Buyer and the
Transitory Subsidiary is a corporation duly organized, validly existing and in good standing under
the laws of the State of Delaware. The Buyer is duly qualified to conduct business and is in good
standing under the laws of each jurisdiction in which the nature of its businesses or the ownership
or leasing of its properties requires such qualification, except for those jurisdictions in which
the failure to be so qualified or in good standing would not reasonably be expected to have a Buyer
Material Adverse Effect. The Buyer has all requisite corporate power and authority to carry on the
businesses in which it is engaged and to own and use the properties owned and used by it. The
Buyer has made available to the Sellers complete and accurate copies of its certificate of
incorporation and by-laws. Buyer is not in default or in violation of any provision of its
certificate of incorporation or by-laws, other than any such default or violation that would not
reasonably be expected to have a Buyer Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 <U>Capitalization; Representations Regarding Stock</U>. As of May&nbsp;31, 2005, the
capitalization of the Buyer is set on <U>Schedule&nbsp;3.2</U>. All of the issued and outstanding
shares of stock of the Buyer are duly authorized, validly issued, fully paid and nonassessable.
Excepts as set forth on <U>Schedule&nbsp;3.2</U>, as of the date hereof, there are no outstanding or
authorized options, warrants, rights, agreements or commitments to which the Buyer or any of its
Affiliates is a party or which are binding upon the Buyer or any of its Affiliates providing for
the issuance, disposition or acquisition of any shares of capital stock of the Buyer. There are no
outstanding or authorized stock appreciation, phantom stock or similar rights with respect to the
Buyer. There are no agreements, voting trusts or proxies to which the Buyer is a party with
respect to the voting, or registration under the Securities Act, in respect of the capital stock of
the Buyer. The Buyer Shares, when issued and delivered to the Sellers in accordance with this
Agreement, will be duly authorized, validly issued, fully paid and nonassessable, will be issued
free of any preemptive rights and will not constitute more than 19.9% of the Buyer&#146;s common stock
computed on a fully-diluted basis. <U> </U>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 <U>Authorization of the Transaction</U>. Each of the Buyer and the Transitory Subsidiary
has all requisite power and authority to execute and deliver this Agreement and, in the case of the
Buyer, the Shareholder Agreement, and to perform its obligations hereunder and thereunder. The
execution and delivery by each of the Buyer and the Transitory Subsidiary of this Agreement and, in
the case of the Buyer, the Shareholder Agreement and the consummation by each of the Buyer and the
Transitory Subsidiary of the transactions contemplated hereby and thereby have been duly and
validly authorized by all necessary corporate and shareholder action on the part of the Buyer and
the Transitory Subsidiary, respectively. This Agreement has been


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<P align="left" style="font-size: 10pt">duly and validly executed and delivered by the Buyer and the Transitory Subsidiary and
constitutes, and, in the case of the Buyer, the Shareholder Agreement, upon its execution and
delivery by the Buyer will constitute, a valid and binding obligation of the Buyer and the
Transitory Subsidiary, as the case may be, enforceable against them in accordance with its terms,
except to the extent that their enforceability may be subject to applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditors&#146; rights generally
and to general equitable principles.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 <U>Noncontravention</U>. Subject to compliance with the applicable requirements of the
Hart-Scott-Rodino Act and applicable foreign Antitrust Laws and the filing of the Certificate of
Merger as required by the Delaware General Corporation Law, neither the execution and delivery by
the Buyer or the Transitory Subsidiary of this Agreement or, in the case of the Buyer, the
Shareholder Agreement, nor the consummation by the Buyer or the Transitory Subsidiary of the
transactions contemplated hereby or thereby, will (a)&nbsp;conflict with or violate any provision of the
certificate of incorporation or by-laws of the Buyer or the Transitory Subsidiary, (b)&nbsp;require on
the part of the Buyer or the Transitory Subsidiary any notice to or filing with, or permit,
authorization, consent or approval of, any Governmental Entity, (c)&nbsp;conflict with, result in breach
of, constitute (with or without due notice or lapse of time or both) a default under, result in the
acceleration of obligations under, create in any party any right to terminate, modify or cancel, or
require any notice, consent or waiver under, any material Contract to which the Buyer or the
Transitory Subsidiary is a party or by which either is bound or to which any of their respective
assets are subject, (d)&nbsp;result in the imposition of any Security Interest upon any assets of the
Buyer or the Transitory Subsidiary or (e)&nbsp;violate any order, writ, injunction, decree, statute,
rule or regulation applicable to the Buyer, the Transitory Subsidiary or any of their respective
properties or assets, except in the case of clauses (b), (c), (d)&nbsp;and (e)&nbsp;above, for such notice,
filing, permit, authorization, consent, approval, conflict, breach, default, acceleration, right of
termination, right of modification, right of cancellation, waiver, imposition of a Security
Interest or violation which would not reasonably be expected to have a Buyer Material Adverse
Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 <U>Reports and Financial Statements</U>. The Buyer has previously furnished or made
available to the Sellers complete and accurate copies, as amended or supplemented, of the Buyer SEC
Reports. The Buyer SEC Reports constitute all of the documents required to be filed by the Buyer
under Section&nbsp;13 or subsections (a)&nbsp;or (c)&nbsp;of Section&nbsp;14 of the Exchange Act with the SEC from
January&nbsp;1, 2003 through the date of this Agreement. The Buyer SEC Reports complied in all material
respects with the requirements of the Exchange Act and the rules and regulations thereunder when
filed. As of their respective dates, the Buyer SEC Reports did not contain any untrue statement of
a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading.
The audited financial statements and unaudited interim financial statements of the Buyer included
in the Buyer SEC Reports (a)&nbsp;complied in all material respects with applicable accounting
requirements and the published rules and regulations of the SEC with respect thereto when filed,
(b)&nbsp;were prepared in accordance with GAAP applied on a consistent basis throughout the periods
covered thereby (except as may be indicated therein or in the notes thereto, and in the case of
quarterly financial statements, as permitted by Form 10-Q under the Exchange Act), and (b)&nbsp;fairly
present the consolidated financial condition, results of operations


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<P align="left" style="font-size: 10pt">and cash flows of the Buyer as of the respective dates thereof and for the periods referred to
therein.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 <U>Absence of Certain Changes or Events</U>. Except as disclosed in the Buyer SEC
Reports filed, or other public announcements made by press release, prior to the date of this
Agreement, since the Balance Sheet Date there has occurred no event or development which has had,
or would reasonably be expected to have, a Buyer Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 <U>Financing Commitment</U>. A true and correct copy of the executed Financing
Commitment has been delivered to the Sellers and such Financing Commitment is in effect as of the
date hereof. The aggregate proceeds covered by the Financing Commitment, together with other cash
available to the Buyer, are sufficient to pay $130,000,000 of the Cash Consideration and the
anticipated expenses of the Buyer in connection with the consummation of the transactions
contemplated by this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 <U>Solvency</U>. Buyer is not entering into the transactions contemplated hereby with
actual intent to hinder, delay or defraud either present or future creditors. Immediately after
giving effect to the transactions contemplated hereby and the closing of any financing (including,
without limitation, the Financing Commitment and the Seller Notes, if any) to be obtained by the
Buyer or any of its Affiliates in order to effect the transactions contemplated hereby, Buyer and
its Subsidiaries (including BGS and its Subsidiaries), taken as a whole, will be Solvent.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 <U>Litigation</U>. Except as disclosed in the Buyer SEC Reports, there is no Legal
Proceeding pending or, to the knowledge of the Buyer, threatened with respect to the Buyer that
would reasonably be expected to have a Buyer Material Adverse Effect or which in any manner
challenges or seeks to prevent, enjoin, alter or delay the transactions contemplated by this
Agreement. There are no judgments, orders, awards or decrees outstanding with respect to the Buyer
or its Subsidiaries that would reasonably be expected to have a Buyer Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 <U>Intellectual Property</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as would not reasonably be expected to have a Buyer Material Adverse Effect, the
Buyer and the Buyer Subsidiaries, taken as a whole, own or have the right to use all Intellectual
Property necessary to conduct their respective businesses, including (i)&nbsp;to use, produce, market
and distribute the Buyer Customer Deliverables as currently used, provided, marketed and
distributed and (ii)&nbsp;to operate the Buyer Internal Systems as currently operated. The consummation
of the transactions contemplated by this Agreement will not result in the loss or reduction of any
rights in any Buyer Intellectual Property. The Buyer or the appropriate Buyer Subsidiary has taken
reasonable measures to protect the proprietary nature of each item of Buyer Intellectual Property
that it owns, and to maintain in confidence all trade secrets and confidential information that it
owns except where failure to so protect or maintain would not reasonably be expected to have a
Buyer Material Adverse Effect. No other person or entity has any rights to any of the Buyer
Intellectual Property owned by the Buyer or any Buyer Subsidiary (except pursuant to agreements or
licenses entered into in the Ordinary Course of Business), and, to the knowledge of the Buyer, no
person or entity is infringing or misappropriating any of the



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<P align="left" style="font-size: 10pt">Buyer Intellectual Property owned by the Buyer or any Buyer Subsidiary, except as would not
reasonably be expected to have a Buyer Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;None of the Buyer Customer Deliverables as currently used, produced, marketed and
distributed by the Buyer or any Buyer Subsidiary infringes or constitutes a misappropriation of,
any Intellectual Property rights of any person or entity, except as would not reasonably be
expected to have a Buyer Material Adverse Effect. Neither the conduct of the Buyer&#146;s or any of the
Buyer Subsidiaries&#146; businesses, nor any of the Buyer Internal Systems, or the use thereof,
infringes, or constitutes a misappropriation of, any Intellectual Property rights of any person or
entity, except as would not reasonably be expected to have a Buyer Material Adverse Effect. The
Buyer has not received any written complaint, written claim or written notice, or written threat
thereof, alleging any such infringement or misappropriation that would reasonably be expected to
have a Buyer Material Adverse Effect.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Buyer or a Buyer Subsidiary has obtained an assignment from each third party
developing copyrightable material used in any Buyer Customer Deliverables or Buyer Internal System.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 <U>Customers</U>. No customer of the Buyer or any Buyer Subsidiary that accounted for
more than $1,000,000 of the consolidated gross sales of the Buyer for the year ended December&nbsp;31,
2004 has indicated in writing or, to the knowledge of the Buyer, orally, within the past twelve
(12)&nbsp;months that it will stop, or materially decrease the rate, outside of the Ordinary Course of
Business, of buying services from the Buyer and the Buyer Subsidiaries.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 <U>India</U>. Lionbridge India Pvt Ltd. is a wholly-owned indirect Subsidiary of the
Buyer and a wholly-owned direct Subsidiary of Mentorix Technologies, Inc., a California
corporation, which in turn is a wholly-owned indirect Subsidiary of the Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 <U>Other Transactions</U>. None of the Buyer or any Buyer Subsidiary is a party to any
Contract or other agreement, arrangement or understanding pursuant to which they are obligated, or
may become obligated, to acquire any other person, entity, business or assets of a person or
entity, the acquisition of which would reasonably be expected to impede, delay or otherwise
frustrate the timely receipt of any necessary consent, authorization or permit of any Antitrust
Authority necessary for the consummation of the transactions contemplated by this Agreement.


<P align="center" style="font-size: 10pt"><B>ARTICLE IV</B>



<P align="center" style="font-size: 10pt"><B>PRE-CLOSING COVENANTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <U>Closing Efforts</U>. Each of the Parties shall use commercially reasonable efforts to
take all actions and to do all things necessary, proper or advisable to consummate the transactions
contemplated by this Agreement, including using its commercially reasonable efforts to ensure that
the conditions to the obligations of the other Party or Parties, as applicable,


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<P align="left" style="font-size: 10pt">to consummate the Merger are satisfied. Without limitation of the foregoing, the Buyer (a)
shall use commercially reasonable efforts to consummate the financing contemplated by the Financing
Commitment, (b)&nbsp;shall not modify or amend the Financing Commitment to reduce the principal amount
thereof below $125,000,000 and (c)&nbsp;shall not terminate the Financing Commitment unless the Buyer
shall have obtained a replacement financing commitment of not less than $125,000,000.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <U>Governmental and Third-Party Notices and Consents</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Each Party shall use its commercially reasonable efforts to obtain, at its expense, all
waivers, permits, consents, approvals or other authorizations from Governmental Entities and
Antitrust Authorities, and to effect all registrations, filings and notices with or to Governmental
Entities and Antitrust Authorities, as may be required for such Party to consummate the
transactions contemplated by this Agreement and to otherwise comply with all applicable laws and
regulations in connection with the consummation of the transactions contemplated by this Agreement.
Without limiting the generality of the foregoing, each of the Parties shall promptly file any
Notification and Report Forms and related material that it may be required to file with the Federal
Trade Commission and the Antitrust Division of the United States Department of Justice under the
Hart-Scott-Rodino Act and under any applicable Antitrust Law, shall use its commercially reasonable
efforts to obtain an early termination of the applicable waiting period, and shall make any further
filings or information submissions pursuant thereto that may be necessary, proper or advisable.
The Parent and the Buyer shall cooperate with each other in connection with the making of all such
filings (subject to applicable law regarding the sharing of information), including providing
copies of all such documents to the non-filing party and its advisors prior to filing and, if
requested, accepting all reasonable additions, deletions or changes suggested in connection
therewith. For the avoidance of doubt, the Buyer and the Parent agree that nothing contained in
this Section&nbsp;4.2(a) shall modify or affect their respective rights and responsibilities under
Section&nbsp;4.2(b).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Subject to the terms hereof, the Buyer and the Parent agree, and shall cause each of their
respective Subsidiaries, to cooperate and to use commercially reasonable efforts to obtain any
government clearances or approvals required for Closing under any applicable Antitrust Law, to
respond to any government requests for information under any Antitrust Law, and to contest and
resist any action, including any legislative, administrative or judicial action, and to have
vacated, lifted, reversed or overturned any decree, judgment, injunction or other order (whether
temporary, preliminary or permanent) that restricts, prevents or prohibits the consummation of the
transactions contemplated by this Agreement under any Antitrust Law. The parties hereto will
consult and cooperate with one another, and consider in good faith the views of one another, in
connection with any analyses, appearances, presentations, memoranda, briefs, arguments, opinions
and proposals made or submitted by or on behalf of any party hereto in connection with proceedings
under or relating to any Antitrust Law. The Buyer shall be entitled to direct any proceedings or
negotiations with any Antitrust Authority relating to any of the foregoing, provided that it shall
afford the Parent a reasonable opportunity to participate therein. Notwithstanding anything in
this Agreement to the contrary, neither the Buyer nor any of its Affiliates shall be under any
obligation to (i)&nbsp;make proposals, execute or carry out agreements or submit to orders providing for
the sale or other disposition or holding



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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">separate (through the establishment of a trust or otherwise) of any assets of the Buyer or any
of its Affiliates or any Business Subsidiary or Operating Subsidiary or imposing or seeking to
impose any material limitation on the ability of the Buyer or any of its Affiliates to conduct
their business or own such assets or to acquire, hold or exercise full rights of ownership of the
BGS Shares or (ii)&nbsp;take any action under this Section if the United States Department of Justice or
the United States Federal Trade Commission, or any Antitrust Authority administering any other
applicable Antitrust Law, authorizes its staff to seek a preliminary injunction or restraining
order to enjoin consummation of the transactions contemplated by this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Sellers and all Business Subsidiaries and Operating Subsidiaries shall take all
reasonable steps necessary to provide any required notices and secure any required governmental
approvals (including any required novation agreements) to continue all material Government
Contracts of any Business Subsidiary or Operating Subsidiary after the consummation of the
transactions contemplated in this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Sellers shall use their commercially reasonable efforts to obtain, at their expense,
all waivers, consents or approvals listed in <U>Schedule&nbsp;5.2(a)</U>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <U>Operation of Business</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as (i)&nbsp;expressly required, permitted or contemplated by this Agreement, (ii)&nbsp;set
forth in Section&nbsp;4.3 of the Disclosure Schedule, or (iii)&nbsp;as otherwise consented to by the Buyer in
writing (which consent shall not be unreasonably withheld or delayed), during the period from the
date of this Agreement to the Closing, each Seller shall (and the Sellers shall cause each Business
Subsidiary and Operating Subsidiary to) conduct operations of the Business in the Ordinary Course
of Business and in compliance with all applicable laws and regulations and, to the extent
consistent therewith, use its commercially reasonable efforts to preserve intact the current
business organization of the Business, keep the physical assets of the Business in operating
condition, keep available the services of the its workforce and Senior Executives and preserve the
relationships with customers and suppliers of the Business and others having business dealings with
the Business. Without limiting the generality of the foregoing, prior to the Closing, except as
expressly required, permitted or contemplated by this Agreement and except as set forth in Section
4.3 of the Disclosure Schedule, the Sellers shall cause the Business Subsidiaries and the Operating
Subsidiaries to pay all accounts payable in the Ordinary Course of Business, to collect and
otherwise handle all accounts receivable in the Ordinary Course of Business and not to, without the
written consent of the Buyer (which consent shall not be unreasonably withheld or delayed):



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;issue or sell any stock or other securities or any options, warrants or other rights to
acquire any such stock or other securities other than the issuance of equity securities by a
Business Subsidiary or an Operating Subsidiary to a Seller in connection with capital contributions
to be made by the Parent or any of its Affiliates;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;declare, set aside or pay any dividend or other distribution (whether in cash, stock or
property or any combination thereof) in respect of its capital stock;


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;create, incur or assume any Indebtedness (including obligations in respect of capital
leases); assume, guarantee, endorse or otherwise become liable or responsible (whether directly,
contingently or otherwise) for the Indebtedness of any other person or entity; or make any loans,
advances or capital contributions to, or investments in, any other person or entity other than
travel loans and advances to Business Employees in the Ordinary Course of Business;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;enter into, adopt or amend any Employee Benefit Plan or any employment or severance
agreement or arrangement or increase in any manner the compensation or fringe benefits of, or
materially modify the employment terms of, its Business Employees other than employment and
severance agreements and arrangements and normal annual salary increases granted to Business
Employees below the level of Senior Executive in the Ordinary Course of Business, generally or
individually, or pay any bonus or other benefit to its Business Employees (except for existing
payment obligations pursuant to a Business Benefit Plan), hire any new Business Employees at or
above the level of Senior Executive or (except in the Ordinary Course of Business) any new
employees or terminate the employment or engagement of any officers or Business Employees;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;acquire, sell, lease, license or dispose of any material assets or property (including any
shares or other equity interests in or securities of any Business Subsidiary), other than purchases
and sales of assets and licenses in the Ordinary Course of Business;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;mortgage or pledge any of its property or assets or subject any such property or assets
to any Security Interest other than Permitted Security Interests;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)&nbsp;discharge or satisfy any Security Interest or pay any obligation or liability other than
in the Ordinary Course of Business or other than as required by the terms of any Contract in effect
as of the date hereof;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)&nbsp;amend its charter, by-laws or other organizational documents in a manner that could
have an adverse effect on the transactions contemplated by this Agreement;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)&nbsp;change its accounting methods, principles or practices, except insofar as may be required
by GAAP, the generally accepted accounting principles in effect in any jurisdiction in which any
Business Subsidiary or Operating Subsidiary is organized, or applicable law, or make any new
elections, or changes to any current elections, with respect to Taxes that affect the Business;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)&nbsp;make or commit to make any capital expenditure in excess of $250,000 per item or
$1,000,000 in the aggregate other than as contemplated by the capital expenditures budget for the
Business as in effect on the date hereof, a copy of which is included in Section&nbsp;4.3(a)(x) of the
Disclosure Schedule;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)&nbsp;institute or settle any Legal Proceeding with any customer of the Business that accounted
for more than $1,000,000 of gross sales of the Business for the year


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">ended December&nbsp;31, 2004 or institute or settle any other Legal Proceeding in excess of
$200,000 other than in the Ordinary Course of Business; or



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)&nbsp;agree in writing or otherwise to take any of the foregoing actions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding anything contained in this Agreement to the contrary, (x)&nbsp;Parent shall be
permitted to maintain Parent&#146;s cash management and intercompany debt and equity funding system and
procedures as currently conducted by Parent, BGS, the Business Subsidiaries and the Operating
Subsidiaries through the Closing Date and (y)&nbsp;the Company shall be permitted to issue BGS Shares to
Parent prior to the Closing in respect of debt and intercompany borrowings, past and current, as
well as in respect of debt and intercompany borrowings that may be incurred through the Closing
Date. BGS, the Business Subsidiaries and the Operating Subsidiaries shall be permitted to borrow
funds from Parent and Bowne New York as is necessary to operate the Business in the Ordinary Course
of Business and repay such borrowings in the Ordinary Course of Business. Parent shall be
permitted to withdraw cash and cash equivalents of BGS, the Business Subsidiaries and Operating
Subsidiaries through the Closing Date; provided, however, that on the Closing Date BGS, the
Business Subsidiaries and Operating Subsidiaries, taken as a whole, shall have cash on hand of not
less than $11,500,000. Nothing contained in this Agreement shall give the Buyer, directly or
indirectly, rights to control or direct the operation of the Business prior to the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Prior to the Closing, the Parent shall cause Bowne Global Solutions, Inc. to sell, convey,
assign, transfer and deliver to a subsidiary of BGS good title, free and clear of all Security
Interests other than Permitted Security Interests, to those assets listed on <U>Schedule
4.3(c)</U> by the execution and delivery of a bill of sale in the form attached hereto as
<U>Exhibit&nbsp;D</U>.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Notwithstanding anything contained in this Agreement to the contrary, each Seller,
Business Subsidiary and Operating Subsidiary shall be permitted to file the entity classification
elections pursuant to Treasury Regulation&nbsp;Section&nbsp;301.7701-3 with current or retroactive effect
(including any relief provided for under Treasury Regulations Section&nbsp;301.9100) that are set forth
in Section&nbsp;2.9(o) of the Disclosure Schedule (the &#147;Entity Classification Elections&#148;) at any time
prior to Closing. The Seller agrees to provide the Buyer with copies of all Entity Classification
Elections and all correspondence from the Internal Revenue Service with respect thereto.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <U>Access to Information</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Sellers shall cause each Business Subsidiary and Operating Subsidiary to permit
representatives of the Buyer to have reasonable access (at all reasonable times, and in a manner so
as not to interfere with the normal business operations of the Business) to all premises,
properties, financial, Tax and accounting records, Contracts, other records and documents, and
personnel, of or pertaining to the Business (but excluding any competitively sensitive information)
for the purpose of performing such inspections and tests as the Buyer deems necessary or
appropriate.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Within twenty (20)&nbsp;Business Days after the end of each month ending prior to the Closing,
beginning with the date of this Agreement, the Parent shall furnish to the



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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">Buyer an unaudited pro forma balance sheet of the Business and related pro forma statement of
results of operations for such month, prepared on a basis consistent with the Interim Financial
Statements.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Any information obtained by the Buyer with respect to the Sellers, BGS, the Business
Subsidiaries and the Operating Subsidiaries or the Business (whether or not pursuant to paragraphs
(a)&nbsp;and (b)&nbsp;above) shall be subject to the terms and conditions set forth in that certain
Confidentiality Agreement, dated November&nbsp;15, 2004, between Parent and the Buyer, the terms of
which are incorporated herein by reference (the &#147;Confidentiality Agreement&#148;). Effective upon, and
only upon, the Closing, the Buyer&#146;s obligations under the Confidentiality Agreement shall terminate
with respect to information relating to BGS, the Business Subsidiaries and Operating Subsidiaries
or the Business; provided, that (i)&nbsp;the Buyer acknowledges that any and all other information
provided to it by the Sellers or their Representatives concerning the Sellers shall remain subject
to the terms and conditions of the Confidentiality Agreement after the Closing Date and (ii)&nbsp;the
Sellers acknowledge that any and all other information provided to them by the Buyer or its
Representatives concerning the Buyer shall remain subject to the terms and conditions of the
Confidentiality Agreement after the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Prior to the Closing Date, the Buyer shall be permitted to contact customers of the
Business at such times and in such a manner as shall be reasonably approved by the Sellers, taking
into consideration any limitations on such contact arising under applicable law. Any such contact
shall be in the presence of a representative of the Parent.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;It is expressly understood and agreed that, without the prior written consent of the
Sellers, which may be granted or withheld in the Sellers&#146; sole discretion, nothing in this
Agreement shall be construed to grant the Buyer or its Representatives the right to perform any
Phase I, Phase II or other environmental testing on any of the properties of BGS, the Business
Subsidiaries or the Operating Subsidiaries.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <U>Notice of Breaches</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;From the date of this Agreement until the Closing, the Parent shall promptly deliver to
the Buyer supplemental information concerning events or circumstances occurring subsequent to the
date hereof which would render any representation or warranty of the Sellers in Article&nbsp;II
inaccurate or incomplete in any material respect at any time after the date of this Agreement until
the Closing. No such supplemental information shall be deemed to avoid or cure any
misrepresentation or breach of warranty or constitute an amendment of any representation, warranty
or statement in this Agreement or the Disclosure Schedule; provided that if and to the extent (i)
such supplemental information relates to an event or circumstance occurring subsequent to the date
hereof (without breach of Section&nbsp;4.3, Section&nbsp;4.7 or any other obligation of the Sellers
hereunder), (ii)&nbsp;such supplemental information is accompanied by a written statement from the
Sellers, informing the Buyer of the Sellers&#146; belief that the Buyer is entitled to terminate this
Agreement in accordance with the provisions of Section&nbsp;9.1(b) as a result of such supplemental
information (which statement shall be binding on the Sellers) and (iii)&nbsp;the Buyer would, in fact,
have the right to terminate this Agreement pursuant to Section



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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">9.1(b) as a result of the information so disclosed, then if the Buyer does not elect to so
terminate this Agreement within five (5)&nbsp;Business Days after such disclosure, such supplemental
information shall constitute an amendment of the representation, warranty or statement to which it
relates for purposes of Article&nbsp;V, Article&nbsp;VII and Article&nbsp;IX of this Agreement such that the Buyer
shall not be entitled to (x)&nbsp;refuse to close the transactions contemplated by this Agreement
(assuming the fulfillment or waiver of all of the other conditions to Closing set forth in Sections
5.1 and 5.2), (y)&nbsp;indemnification with respect to such matter to the extent of the information so
disclosed or (z)&nbsp;terminate this Agreement with respect to such matter to the extent of the
information so disclosed; provided, further, that if such supplemental information is provided to
the Buyer less than two (2)&nbsp;full Business Days prior to the scheduled Closing Date, then the
Closing Date shall be deferred by two (2)&nbsp;Business Days to provide the Buyer with sufficient time
to evaluate such information.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;From the date of this Agreement until the Closing, the Buyer shall promptly deliver to the
Parent supplemental information concerning events or circumstances occurring subsequent to the date
hereof which would render any representation or warranty of the Buyer in Article&nbsp;III inaccurate or
incomplete in any material respect at any time after the date of this Agreement until the Closing.
No such supplemental information shall be deemed to avoid or cure any misrepresentation or breach
of warranty or constitute an amendment of any representation or warranty in this Agreement;
provided that if and to the extent (i)&nbsp;such supplemental information relates to an event or
circumstance occurring subsequent to the date hereof (without breach of any obligation of the Buyer
hereunder), (ii)&nbsp;such supplemental information is accompanied by a written statement from the
Buyer, informing the Sellers of the Buyer&#146;s belief that the Parent is entitled to terminate this
Agreement in accordance with the provisions of Section&nbsp;9.1(c) as a result of such supplemental
information (which statement shall be binding on the Buyer) and (iii)&nbsp;the Parent would, in fact,
have the right to terminate this Agreement pursuant to Section&nbsp;9.1(c) as a result of the
information so disclosed, then if the Parent does not elect to so terminate this Agreement within
five (5)&nbsp;Business Days after such disclosure, such supplemental information shall constitute an
amendment of the representation or warranty to which it relates for purposes of Article&nbsp;V, Article
VII and Article&nbsp;IX of this Agreement such that the Sellers shall not be entitled to (x)&nbsp;refuse to
close the transactions contemplated by this Agreement (assuming the fulfillment or waiver of all of
the other conditions to Closing set forth in Sections&nbsp;5.1 and 5.3), (y)&nbsp;indemnification with
respect to such matter to the extent of the information so disclosed or (z)&nbsp;terminate this
Agreement with respect to such matter to the extent of the information so disclosed; provided,
further, that if such supplemental information is provided to the Sellers less than two (2)&nbsp;full
Business Days prior to the scheduled Closing Date, then the Closing Date shall be deferred by two
(2)&nbsp;Business Days to provide the Sellers with sufficient time to evaluate such information.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 <U>Buyer&#146;s Board of Directors</U>. Prior to Closing, Buyer shall take all necessary
action to cause one of the individuals listed on <U>Schedule&nbsp;4.6</U> ( a &#147;Parent Nominee&#148;) to be
appointed to the Buyer&#146;s board of directors effective as of Closing, as a member of the class of
directors whose term will expire at the annual meeting of stockholders to be held in 2008.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 <U>No Solicitation</U>.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Except as set forth in this Section&nbsp;4.7, Parent shall not, nor shall Parent authorize or
permit any of its or its Subsidiaries&#146; respective Subsidiaries or any of its or its Subsidiaries&#146;
respective directors, officers, employees, investment bankers, attorneys, accountants or other
advisors or representatives (such directors, officers, employees, investment bankers, attorneys,
accountants, other advisors and representatives, collectively, &#147;Representatives&#148;) to directly or
indirectly:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;solicit, initiate, encourage or take any other action to facilitate any inquiries or the
making of any proposal or offer that constitutes, or could reasonably be expected to lead to, any
Acquisition Proposal; or


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;except with respect to those persons set forth on <U>Schedule&nbsp;4.7</U> attached hereto,
enter into, continue or otherwise participate in any discussions or negotiations regarding, furnish
to any person any information with respect to, assist or participate in any effort or attempt by
any person with respect to, or otherwise cooperate in any way with, any Acquisition Proposal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Other than during the Exclusivity Period, the Parent may, to the extent required by its
fiduciary obligations, as determined in good faith by the Parent&#146;s board of directors after
consultation with outside counsel and its other advisors, in response to a Superior Proposal made
other than during the Exclusivity Period that did not result from a breach by Parent of this
Section&nbsp;4.7, and subject to compliance with Section&nbsp;4.7(c), (i)&nbsp;furnish information with respect to
the Business to the person making such Superior Proposal and its Representatives pursuant to a
customary confidentiality agreement not less restrictive of the other party than the
Confidentiality Agreement and (ii)&nbsp;participate in discussions or negotiations with such person and
its Representatives regarding any Superior Proposal. Without limiting the foregoing, it is agreed
that any violation of the restrictions set forth in Section&nbsp;4.7(a) by any Representative of the
Parent, or any of its Affiliates, whether or not such person is purporting to act on behalf of
Parent, or otherwise, shall be deemed to be a breach of Section&nbsp;4.7(a) by Parent.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;If BGS, the Sellers or any Affiliate thereof receives any Acquisition Proposal or any
request for nonpublic information in connection with any Acquisition Proposal, or any inquiry with
respect to, or that could reasonably be expected to lead to, any Acquisition Proposal, the Parent
shall notify the Buyer orally, with written confirmation to follow promptly (and in any event
within twenty-four (24)&nbsp;hours), of such Acquisition Proposal, request or inquiry, including the
material terms and conditions thereof (which, for avoidance of doubt, shall not include the
identity of the person making such proposal). Parent shall not provide any information to or
participate in discussions or negotiations with the person or entity making any Superior Proposal
until five (5)&nbsp;Business Days after Parent has first notified the Buyer of such Acquisition Proposal
as required by the preceding sentence.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Parent shall (i)&nbsp;keep the Buyer informed, on a current basis, of the status and
details (including any change to the material terms and conditions, which, for avoidance of doubt,
shall not include the identity of the person making such proposal) of any such Acquisition Proposal
or inquiry, (ii)&nbsp;provide to the Buyer as soon as reasonably practicable after receipt or delivery
thereof copies of all correspondence and other written material sent or



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<P align="left" style="font-size: 10pt">provided to the Parent from any third party in connection with any Acquisition Proposal or
sent or provided by the Parent to any third party in connection with any Superior Proposal (which,
for avoidance of doubt, shall not include the identity of the person making such proposal), and
(iii)&nbsp;if the Buyer shall make a counterproposal, consider and cause its financial and legal
advisors to negotiate on its behalf in good faith with respect to the terms of such
counterproposal. Contemporaneously with providing any information to a third party in connection
with any such Superior Proposal or inquiry, the Parent shall furnish a copy of such information to
the Buyer.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;On the first day of the Exclusivity Period, the Parent shall cause its subsidiaries and
its and their Representatives to cease immediately all discussions and negotiations regarding any
proposal that constitutes, or could reasonably be expected to lead to, an Acquisition Proposal.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 <U>Delivery of S-X Financial Statements</U>. The Parent shall deliver to the Buyer, not
later than August&nbsp;15, 2005, the S-X Financial Statements. The Parent shall also use commercially
reasonable efforts to deliver to the Buyer no later than August&nbsp;15, 2005 (a)&nbsp;a consent of the
Parent&#146;s auditor to the inclusion of its reports regarding the S-X Financial Statements in any
Registration Statement or other filing to be made by the Buyer under United States securities laws
and (b)&nbsp;to the extent permitted by the Parent&#146;s auditors, access to or copies of all work papers
related to the S-X Financial Statements.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.9 <U>No Purchases of Stock During Trading Period</U>. During the Trading Period (a)
neither the Parent nor any Affiliate of the Parent shall purchase any Buyer Common Stock other than
in any underwritten public offering in connection with the transactions contemplated by this
Agreement and (b)&nbsp;neither the Buyer nor any Affiliate of the Buyer shall purchase any shares of the
common stock, $.01 par value per share, of the Parent.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.10 <U>Termination of Affiliate Transactions</U>. Prior to the Closing, except as set forth
on <U>Schedule&nbsp;4.10</U>, the Parent shall cause all transactions and relationships between the
Sellers and any of their Affiliates (other than the Business Subsidiaries and the Operating
Subsidiaries) on the one hand, and the Business Subsidiaries and the Operating Subsidiaries, on the
other hand, including those transactions and relationships set forth in Section&nbsp;2.21 of the
Disclosure Schedule, to be terminated effective as of the Closing Date. The foregoing covenant
shall include the repayment, cancellation or capitalization through the issuance of additional BGS
Shares of all Indebtedness owed by the Business Subsidiaries and the Operating Subsidiaries to the
Sellers and any of their Affiliates (other than the Business Subsidiaries and the Operating
Subsidiaries).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.11 <U>Other Matters</U>. During the period from the date of this Agreement through the
Closing, the Buyer shall not, directly or indirectly, take or permit any Buyer Subsidiary to take,
any action that would reasonably be expected to result in a breach of its representations set forth
in Section&nbsp;3.13.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.12 <U>Stockholder Approval</U>.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Immediately after the execution and delivery of this Agreement BGS shall obtain the
Requisite Stockholder Approval pursuant to a written stockholder consent in accordance with the
requirements of the Delaware General Corporation Law.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;BGS New York agrees to vote all BGS Shares that are beneficially owned by it in favor of
the adoption of this Agreement and the approval of the Merger.



<P align="center" style="font-size: 10pt"><B>ARTICLE V</B>



<P align="center" style="font-size: 10pt"><B>CONDITIONS TO CLOSING</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <U>Conditions to Obligations of each Party</U>. The respective obligations of each Party
to consummate the transactions contemplated by this Agreement to be consummated at the Closing are
subject to the satisfaction of the condition that all applicable waiting periods (and any
extensions thereof) under the Hart-Scott-Rodino Act and under any applicable foreign Antitrust Laws
shall have expired or otherwise been terminated.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <U>Conditions to Obligations of the Buyer</U>. The obligation of the Buyer to consummate
the transactions contemplated by this Agreement to be consummated at the Closing is subject to the
satisfaction or waiver of the following additional conditions:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Sellers shall have obtained at their own expense (and shall have provided copies
thereof to the Buyer) all of the consents, approvals or other authorizations, and effected all of
the registrations, filings and notices, listed in <U>Schedule&nbsp;5.2(a)</U> of this Agreement;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the representations and warranties of BGS and the Sellers in Article&nbsp;II shall be true and
correct in all respects (without regard to any Business Material Adverse Effect or materiality
qualification) on and as of the Closing Date with the same effect as though such representations
and warranties were made as of the Closing Date, except to the extent that such representations and
warranties expressly relate to an earlier date (in which case such representations and warranties
shall be true and correct on and as of such earlier date); provided, that the condition set forth
in this Section&nbsp;5.2(b) shall only be deemed to not have been satisfied if the failure of any such
representation(s) and warranty(ies) to be true and correct has a Business Material Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;each Seller shall have performed or complied in all material respects with its agreements
and covenants required to be performed or complied with under this Agreement as of or prior to the
Closing, it being agreed that the Sellers shall be deemed to have complied in all material respects
with their agreement and covenant under Section&nbsp;4.3 to use commercially reasonable efforts to
preserve relationships with customers of the Business unless there is a loss of such customers that
has a Business Material Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;no Legal Proceeding shall be pending wherein an unfavorable judgment, order, decree,
stipulation or injunction would (i)&nbsp;prevent consummation of the transactions contemplated by this
Agreement or (ii)&nbsp;reasonably be expected to have a material adverse effect on the right of the
Buyer to own, operate or control the Business, or to conduct the Business as



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<P align="left" style="font-size: 10pt">currently conducted, following the Closing, and no such judgment, order, decree, stipulation
or injunction shall be in effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;the Parent shall have delivered to the Buyer the Parent Certificate;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;the Sellers shall have delivered to the Buyer documents evidencing the release or
termination of all Security Interests (other than Permitted Security Interests) on the assets of
each Business Subsidiary and Operating Subsidiary held by any Affiliate of the Parent and copies of
executed UCC termination statements with respect to all UCC financing statements evidencing
Security Interests;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;the Buyer shall have received the resignations, effective as of the Closing, of each
director and officer of each Business Subsidiary and Operating Subsidiary specified by the Buyer in
writing at least five (5)&nbsp;Business Days prior to the Closing;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;the Sellers shall have delivered to the Buyer all source code for all owned Business
Intellectual Property;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;this Agreement and the Merger shall have received the Requisite Stockholder Approval and
the number of Dissenting Shares shall not exceed three percent (3%) of the number of outstanding
BGS Shares as of the Effective Time;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;the Buyer shall have received a certificate of good standing of the Sellers and, where
applicable, those Business Subsidiaries and the Operating Subsidiaries listed on <U>Schedule
5.2(j)</U> from the Secretary of State or other appropriate official of their respective states of
incorporation;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;there shall not have occurred any material adverse changes in the financial or capital
markets arising as a result of any acts of terrorism which shall render the Buyer unable to obtain
the financing to be provided under the Financing Commitment; and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;the Buyer shall have received a certification from the Parent that no Seller is a foreign
person in accordance with the Treasury Regulations under Section&nbsp;1445 of the Code. If the Parent
has not provided the certification described above to the Buyer on or before the Closing Date, the
Buyer shall be permitted to withhold from the Merger Consideration any required withholding Tax
under Section&nbsp;1445 of the Code.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <U>Conditions to Obligations of the Seller</U>. The obligation of the Sellers to
consummate the transactions contemplated by this Agreement to be consummated at the Closing is
subject to the satisfaction or waiver of the following additional conditions:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the representations and warranties of the Buyer and the Transitory Subsidiary in Article
III shall be true and correct in all respects (without regard to any Buyer Material Adverse Effect
or materiality qualification) on and as of the Closing Date with the same effect as though such
representations and warranties were made as of the Closing Date, except to the extent that such
representations and warranties expressly relate to an earlier date (in which case such
representations and warranties shall be true and correct on and as of such earlier date);



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<P align="left" style="font-size: 10pt">provided, that the condition set forth in this Section&nbsp;5.3(a) shall only be deemed to not have
been satisfied if the failure of any such representation(s) and warranty(ies) to be true and
correct has a Buyer Material Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the Buyer shall have performed or complied in all material respects with its agreements
and covenants required to be performed or complied with under this Agreement as of or prior to the
Closing;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;no Legal Proceeding shall be pending wherein an unfavorable judgment, order, decree,
stipulation or injunction would prevent consummation of the transactions contemplated by this
Agreement, and no such judgment, order, decree, stipulation or injunction shall be in effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;the Buyer shall have delivered to the Parent the Buyer Certificate;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;the Buyer Shares issuable by the Buyer pursuant to this Agreement shall have been
authorized for quotation on the Nasdaq National Market;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;a Parent Nominee shall have been appointed to the Buyer&#146;s board of directors effective as
at Closing, as a member of the class of directors whose term will expire at the annual meeting of
stockholders to be held in 2008;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;the Buyer shall have executed and delivered to the Parent the Shareholder Agreement in the
form attached hereto as <U>Exhibit&nbsp;C</U>;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;the Buyer shall have delivered to the Parent a Voting Agreement executed by Rory J. Cowan
in the form attached hereto as <U>Exhibit&nbsp;E</U>; and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the Parent shall have received a certificate of good standing of the Buyer from the
Secretary of State of its State of incorporation.



<P align="center" style="font-size: 10pt"><B>ARTICLE VI</B>



<P align="center" style="font-size: 10pt"><B>POST-CLOSING COVENANTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.1 <U>Proprietary Information</U>. From and after the Closing, no Seller shall disclose or
make use of (except to pursue its rights under this Agreement or the Shareholder Agreement), and
each Seller shall use its commercially reasonable efforts to cause all of its Affiliates not to
disclose or make use of any knowledge, information or documents of a confidential nature or not
generally known to the public with respect to any Business Subsidiary, Operating Subsidiary, the
Business or the Buyer or its business (including the financial information, technical information
or data relating to the services and names of customers of the Business), as well as filings and
testimony (if any) presented in the course of any arbitration of a Dispute pursuant to Section&nbsp;7.3
and the arbitral award and the Arbitrator&#146;s reasons therefor relating to the same), except to the
extent that such knowledge, information or documents shall have become public knowledge other than
through improper disclosure by any Seller or any Affiliate. Notwithstanding the foregoing, if
Parent or Sellers or any of their Representatives are legally required to disclose any


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<P align="left" style="font-size: 10pt">such confidential information (whether by deposition, interrogatory, request for documents,
subpoena, civil investigative demand or similar process, applicable securities laws or pursuant to
the rules governing the stock exchange on which the Parent&#146;s securities are traded), Parent agrees
that Parent shall, or shall cause such Seller or Representative, to provide the Buyer with prompt
written notice of such request so that the Buyer may seek an appropriate protective order or other
appropriate remedy. If such protective order or remedy is not obtained, Parent or such Seller or
Representative, may disclose only that portion of the confidential information which such person is
legally required to disclose, and Parent shall exercise its commercially reasonable efforts to
obtain assurance that confidential treatment will be accorded to such material so disclosed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.2 <U>Solicitation and Hiring</U>. For a period of three (3)&nbsp;years after the Closing Date,
no Seller shall, either directly or indirectly (including through an Affiliate), (a)&nbsp;solicit or
attempt to induce any Restricted Employee to terminate his or her employment with the Buyer or any
Subsidiary of the Buyer or (b)&nbsp;hire or attempt to hire any Restricted Employee. Notwithstanding
the foregoing, clause (a)&nbsp;of the preceding sentence shall not prohibit a general solicitation
through a public medium or general or mass mailing by a Seller or its Affiliate or on their behalf
and not directly or indirectly targeted at the Restricted Employees, and clause (b)&nbsp;of the
preceding sentence shall not apply to any individual whose employment with the Buyer or a
subsidiary of the Buyer has been terminated for a period of six (6)&nbsp;months or longer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.3 <U>Non-Competition</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;For a period of three (3)&nbsp;years after the Closing Date, no Seller shall, either directly
or indirectly as a stockholder, investor, partner, consultant or otherwise, (i)&nbsp;design, develop,
market, sell or provide any service anywhere in the world which is competitive with any service
provided by the Business as of the Closing Date or within the three (3)&nbsp;year period prior to the
Closing Date or (ii)&nbsp;engage anywhere in the world in any business competitive with the Business as
conducted as of the Closing Date or during the three (3)&nbsp;year period prior to the Closing Date.
Notwithstanding the foregoing, Parent shall be permitted to continue operating its BTS Business and
Financial Print Business as they are currently conducted (and the Buyer acknowledges that such
businesses compete with the Business). Additionally, nothing in this Section&nbsp;6.3(a) shall prohibit
Parent from directly or indirectly acquiring any person or business that owns a Subsidiary,
division or holds an equity or other interest in, any business that directly or indirectly competes
with the Business so long as in its last full fiscal year prior to such acquisition, the
consolidated revenues of such acquired person or business that directly or indirectly compete with
the Business constituted less than 25% of the total revenues of such entity, the primary purpose of
such acquisition is not to compete with the Business and Parent divests such competing person or
business within twenty-four (24)&nbsp;months from the acquisition of such person or business. Moreover,
it shall not be a violation of this Section&nbsp;6.3(a) if any person or business that competes with the
Business directly or indirectly acquires the Sellers or any of their Subsidiaries (whether by
merger, stock purchase, asset purchase, recapitalization or otherwise).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each Seller agrees that the duration and geographic scope of the non-competition provision
set forth in this Section&nbsp;6.3 are reasonable. In the event that any court determines that the
duration or the geographic scope, or both, are unreasonable and that such



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<P align="left" style="font-size: 10pt">provision is to that extent unenforceable, the Parties agree that the provision shall remain
in full force and effect for the greatest time period and in the greatest area that would not
render it unenforceable. The Parties intend that the foregoing non-competition provision shall be
deemed to be a series of separate covenants, one for each and every county of each and every state
of the United States of America and each and every political subdivision of each and every country
outside the United States of America where this provision is intended to be effective.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.4 <U>Sharing of Data</U>. The Parent shall have the right for a period of seven (7)&nbsp;years
following the Closing Date to have reasonable access to such books, records and accounts, including
financial and tax information, correspondence, production records, and other records that are
transferred to the Buyer pursuant to the terms of this Agreement for the limited purposes of
concluding its involvement in the Business conducted by the Sellers prior to the Closing Date, for
preparing the schedule and analysis of &#147;net operating losses&#148; under Section&nbsp;8.2(a) and for
complying with its obligations under applicable securities, Tax, environmental, employment or other
laws and regulations. The Buyer shall have the right for a period of seven (7)&nbsp;years following the
Closing Date to have reasonable access to those books, records and accounts, including financial
and accounting records, Tax records, correspondence, production records, and other records to the
extent relating solely to the Business that are retained by the Sellers pursuant to the terms of
this Agreement to the extent that any of the foregoing is needed by the Buyer for the purpose of
conducting the Business after the Closing and complying with its obligations under applicable
securities, Tax, environmental, employment or other laws and regulations. Neither the Buyer nor
any Seller shall destroy any such books, records or accounts retained by it without first providing
the other Parties with the opportunity to obtain or copy such books, records, or accounts at such
other Party&#146;s expense. The Sellers shall be entitled to retain copies of all Tax records
reasonably required to enable the Sellers to make the determination in Section&nbsp;8.2(a) regarding the
availability of &#147;net operating losses.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.5 <U>Use of Name</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Promptly following the Closing, except as otherwise expressly provided in this Section
6.5, the Buyer will not represent or hold itself out as having any affiliations with any Seller and
shall completely and permanently obliterate, mask, delete or remove all Retained Marks from all
assets, products and materials used in the Business or in the continuing operations of BGS, its
Affiliates and Subsidiaries. Notwithstanding the foregoing:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;for a period of not more than three (3)&nbsp;months following the Closing Date, solely in its
operation of the Business, the Buyer may utilize existing sales promotional aids, existing
literature and other existing printed material of the Business bearing the Retained Marks;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;for a period of not more than six (6)&nbsp;months following the Closing Date, solely in its
operation of the Business, the Buyer may continue to use the Retained Marks as such Retained Marks
were used in the Business immediately prior to Closing where the obliteration, masking, deletion or
removal of such Retained Marks is impractical; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;for a period of not more than twelve (12)&nbsp;months following the Closing Date, solely in
its operation of the Business, the Buyer may disclose to its customers and


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<P align="left" style="font-size: 10pt">potential customers that it is conducting the Business as a successor to the Sellers from and
after the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The license to use the Retained Marks is non-exclusive and all rights therein not
expressly granted pursuant to this Section&nbsp;6.5 are reserved to Sellers. Nothing in this Agreement
conveys any ownership interest in the Retained Marks to the Buyer. The Buyer agrees that its use
of the Retained Marks in the operation of the Business shall be consistent with the past practices
of the Sellers in connection with the Business and, with respect to such use, the Buyer shall
adhere to substantially similar quality standards to which the Sellers adhered immediately prior to
the Closing. All uses of the Retained Marks shall inure to the benefit of Sellers. Buyer shall
not take any actions which disparage the Sellers or degrade the value of the Retained Marks.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.6 <U>Cooperation in Litigation</U>. From and after the Closing Date, each Party shall
fully cooperate with each other Party in the defense or prosecution of any litigation or proceeding
already instituted or which may be instituted hereafter against or by such other Party relating to
or arising out of the conduct of the Business prior to or after the Closing Date (other than
litigation among the Parties and/or their Affiliates arising out the transactions contemplated by
this Agreement or the Shareholder Agreement). The Party requesting such cooperation shall pay the
reasonable out-of-pocket expenses incurred in providing such cooperation (including reasonable
legal fees and disbursements) by the Party or Parties providing such cooperation and by each such
Party&#146;s officers, directors, employees and agents, but shall not be responsible for reimbursing any
such Party or its officers, directors, employees and agents, for their time spent in such
cooperation.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.7 <U>Certain Expenses</U>. Subject to the Buyer complying with the other terms and
conditions of this Agreement, Buyer and Parent shall each pay one half (1/2) of any fees and
expenses incurred by Buyer in connection with the receipt of the Financing Commitment; provided,
however, that in no event shall Parent&#146;s share of such fees and expenses exceed an aggregate of
$1,500,000. Parent shall pay its share of any such fees and expenses upon the earliest to occur of
(a)&nbsp;the Closing, (b)&nbsp;the termination of this Agreement by the Buyer under Section&nbsp;9.1(b) or (i), or
(c)&nbsp;the termination of this Agreement by Parent under Section&nbsp;9.1(f); provided, however, that in
the case of clauses (b)&nbsp;and (c), the Parent shall only be liable for its share of such fees and
expenses if such fees and expenses are actually payable by the Buyer to the lender under the
Financing Commitment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.8 <U>Indemnification of Directors and Officers</U>. The certificate of incorporation and
by-laws of the Surviving Corporation and each of its Subsidiaries shall contain provisions no less
favorable with respect to indemnification than are set forth in the certificate of incorporation
and by-laws of BGS and its Subsidiaries, respectively, immediately prior to the Closing, which
provisions shall not be amended, repealed or otherwise modified unless required by applicable law
for a period of six (6)&nbsp;years after the Closing in any manner that would adversely affect the
rights thereunder of individuals who at or prior to the Closing were present or former directors,
officers, employees or agents of BGS or any of its Subsidiaries at the Closing (each, together with
such person&#146;s heirs, executors or administrators, a &#147;<U>BGS Covered Person</U>&#148;) relating to
service prior to Closing. The provisions of this Section&nbsp;6.8 shall survive the consummation of


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<P align="left" style="font-size: 10pt">the transaction contemplated hereby and expressly are intended to benefit each BGS Covered
Person.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.9 <U>Replacement of Parent Guarantees</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;As soon as practicable after the Closing, the Buyer will use its commercially reasonable
efforts to replace each of the Parent guarantees set forth in Section&nbsp;6.9 of the Disclosure
Schedule (the &#147;<U>Parent Guarantees</U>&#148;) with a like guarantee from the Buyer.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the event the Buyer is unable to replace any such Parent Guaranty, the Buyer shall
indemnify and hold harmless Parent and its Affiliates for any and all Damages incurred by them in
respect of any claim on such Parent Guarantee maintained in place after the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.10 <U>Union Employees</U>. Buyer agrees to (a)&nbsp;comply with all legal requirements that may
be applicable as a result of any Business Employees who are covered by any collective bargaining
agreement or similar agreement with any trade union, works council or other group of employee
representatives (&#147;Collective Bargaining Agreements&#148;), (b)&nbsp;where applicable, recognize such trade
union, works council or other group of employee representatives as the exclusive bargaining units
for such employees and (c)&nbsp;assume all rights and obligations of Parent and its Affiliates under the
Collective Bargaining Agreements with respect to such employees.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.11 <U>Transition Services</U>. For a period of up to forty five (45)&nbsp;days after the
Closing Date, the Sellers shall cooperate with the Buyer in the provision of payroll services and
in the relocation of data and personnel from premises or servers controlled by the Sellers to
premises or servers controlled by the Buyer. The Buyer shall pay the reasonable costs incurred by
the Sellers in providing such transition services.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.12 <U>Change in Control and Retention Payments</U>. Within ten (10)&nbsp;days after the receipt
of any invoice from the Buyer, the Sellers shall pay to the Buyer (a)&nbsp;all retention and stock
option equalization payments (including all employer Taxes associated therewith) paid to any
Business Employee pursuant to the Contracts set forth on <U>Schedule&nbsp;6.12</U>, (b)&nbsp;all severance
and change of control payments (including all employer Taxes associated therewith) paid to any
Business Employee within 180&nbsp;days after the Closing Date pursuant to the Contracts set forth on
<U>Schedule&nbsp;6.12</U> and (c)&nbsp;one half (1/2) of all severance and change of control payments
(including all employer Taxes associated therewith) paid to any such Business Employee more than
180&nbsp;days after the Closing Date pursuant to the Contracts set forth on <U>Schedule&nbsp;6.12</U>. The
Buyer shall pay all other bonus payments to be made to any Business Employee<U> provided</U>,
<U>however</U>, that the Sellers, and not the Buyer, shall pay all retention, stock option
equalization, severance and change of control payments, bonus payments and other amounts payable to
the Business Employee labeled &#147;Excluded Business Employee&#148; on <U>Schedule&nbsp;6.12</U>.


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<P align="center" style="font-size: 10pt"><B>ARTICLE VII</B>



<P align="center" style="font-size: 10pt"><B>INDEMNIFICATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.1 <U>Indemnification by the Parent</U>. The Parent shall indemnify the Buyer in respect
of, and hold the Buyer harmless against, Damages incurred or suffered by the Buyer or any Affiliate
thereof (including the Surviving Corporation) resulting from, relating to or constituting:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the failure of any representation or warranty made by BGS and the Sellers in Article&nbsp;II to
be true and correct on the Closing Date with the same effect as though such representations and
warranties had been made on and as of such date, except (i)&nbsp;to the extent such representations and
warranties expressly relate to a date prior to the Closing Date (in which case such representations
shall be true and correct on and as of such earlier date) and (ii)&nbsp;in the case of the
representation and warranty made by BGS and the Sellers in the second sentence of Section&nbsp;2.26, the
Parent shall have no obligation to indemnify the Buyer against any breach of such representation
arising from events or circumstances occurring after the date of this Agreement;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;any failure to perform any covenant or agreement of the Sellers contained in this
Agreement, the Shareholder Agreement or any agreement or instrument furnished by any Seller to the
Buyer pursuant to this Agreement; provided, that the Sellers shall be deemed to have complied with
their agreement and covenant under Section&nbsp;4.3 to use commercially reasonable efforts to preserve
relationships with customers of the Business unless there is a loss of such customers that has a
Business Material Adverse Effect;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;any failure to perform any covenant or agreement of BGS or the Parent under Section&nbsp;1.5 of
this Agreement; and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;the matters set forth in item (i)&nbsp;of Section&nbsp;2.13(b) of the Disclosure Schdule.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2 <U>Indemnification by the Buyer</U>. The Buyer shall indemnify the Sellers in respect
of, and hold the Sellers harmless against, any and all Damages incurred or suffered by the Sellers
resulting from, relating to or constituting:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the failure of any representation or warranty made by the Buyer and the Transitory
Subsidiary in Article&nbsp;III to be true and correct on the Closing Date with the same effect as though
such representations and warranties had been made on and as of such date, except to the extent such
representations and warranties expressly relate to a date prior to the Closing Date (in which case
such representations shall be true and correct on and as of such earlier date); and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;any failure to perform any covenant or agreement of the Buyer contained in this Agreement,
the Shareholder Agreement or any other agreement or instrument furnished by the Buyer to the
Sellers pursuant to this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.3 <U>Indemnification Claims</U>.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;An Indemnified Party shall give written notification to the Indemnifying Party of the
commencement of any Third Party Action. Such notification shall be given within twenty (20)&nbsp;days
after receipt by the Indemnified Party of notice of such Third Party Action, and shall describe in
reasonable detail (to the extent known by the Indemnified Party) the facts constituting the basis
for such Third Party Action and the amount of the claimed damages; provided, however, that no delay
or failure on the part of the Indemnified Party in so notifying the Indemnifying Party shall
relieve the Indemnifying Party of any liability or obligation hereunder except to the extent of any
damage or liability caused by or arising out of such failure. The Indemnified Party shall provide
the Indemnifying Party with a copy of the complaint or other written notice of the claim from the
third party claimant to the Indemnified Party, along with reasonable access to such additional
information that is in the control or possession of the Indemnified Party relating to the Third
Party Action as the Indemnifying Party may reasonably request for the purpose of assisting the
Indemnifying Party in determining whether to assume control of the defense of such Third Party
Action. Within sixty (60)&nbsp;days after delivery of notification of the commencement of such Third
Party Action, the Indemnifying Party may, upon written notice thereof to the Indemnified Party,
assume control of the defense of such Third Party Action with counsel of its choosing; provided
that (i)&nbsp;the Indemnifying Party may only assume control of such defense if (A)&nbsp;it acknowledges in
writing to the Indemnified Party that any damages, fines, costs or other liabilities that may be
assessed against the Indemnified Party in connection with such Third Party Action constitute
Damages for which the Indemnified Party shall be indemnified pursuant to this Article&nbsp;VII and (B)
the <I>ad damnum </I>is less than or equal to 150% of the amount of Damages for which the Indemnifying
Party is liable under this Article&nbsp;VII and (ii)&nbsp;the Indemnifying Party may not assume control of
the defense of any Third Party Action involving criminal liability or in which equitable relief is
sought against the Indemnified Party. If the Indemnifying Party does not, or is not permitted
under the terms hereof to, so assume control of the defense of a Third Party Action, the
Indemnified Party shall control such defense. The Non-controlling Party may participate in such
defense at its own expense. The Controlling Party shall keep the Non-controlling Party advised of
the status of such Third Party Action and the defense thereof and shall consider in good faith
recommendations made by the Non-controlling Party with respect thereto. The Non-controlling Party
shall furnish the Controlling Party with such information as it may have with respect to such Third
Party Action (including copies of any summons, complaint or other pleading which may have been
served on such party and any written claim, demand, invoice, billing or other document evidencing
or asserting the same) and shall otherwise cooperate with and assist the Controlling Party in the
defense of such Third Party Action. The fees and expenses of counsel to the Indemnified Party with
respect to a Third Party Action shall be considered Damages for purposes of this Agreement if (i)
the Indemnified Party controls the defense of such Third Party Action pursuant to the terms of this
Section&nbsp;7.3(a) or (ii)&nbsp;the Indemnifying Party assumes control of such defense and the Indemnified
Party reasonably concludes (based on the advice of counsel) that the Indemnifying Party and the
Indemnified Party have conflicting interests or different defenses available with respect to such
Third Party Action. The Indemnifying Party shall not agree to any settlement of, or the entry of
any judgment ari
sing from, any Third Party Action without the prior written consent of the
Indemnified Party, which shall not be unreasonably withheld, conditioned or delayed unless such
settlement is solely for money Damages (and not injunctive or other relief) that is paid entirely
by the Indemnifying Party. The Indemnified Party shall not agree to any settlement of, or the
entry of any judgment arising from, any such Third Party Action without the



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<P align="left" style="font-size: 10pt">prior written consent of the Indemnifying Party, which shall not be unreasonably withheld or
delayed.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In order to seek indemnification under this Article&nbsp;VII, an Indemnified Party shall
deliver a Claim Notice to the Indemnifying Party.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Within twenty (20)&nbsp;days after delivery of a Claim Notice, the Indemnifying Party shall
deliver to the Indemnified Party a Response, in which the Indemnifying Party shall: (i)&nbsp;agree that
the Indemnified Party is entitled to receive all of the Claimed Amount (in which case the Response
shall be accompanied by a payment by the Indemnifying Party to the Indemnified Party of the Claimed
Amount, by check or by wire transfer), (ii)&nbsp;agree that the Indemnified Party is entitled to receive
the Agreed Amount (in which case the Response shall be accompanied by a payment by the Indemnifying
Party to the Indemnified Party of the Agreed Amount, by check or by wire transfer) or (iii)&nbsp;dispute
that the Indemnified Party is entitled to receive any of the Claimed Amount.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;During the thirty (30)&nbsp;day period following the delivery of a Response that reflects a
Dispute, the Indemnifying Party and the Indemnified Party shall use good faith efforts to resolve
the Dispute. If the Dispute is not resolved within such thirty (30)&nbsp;day period, the Indemnifying
Party and the Indemnified Party shall discuss the submission of the Dispute to binding arbitration,
and if the Indemnifying Party and the Indemnified Party agree in writing to submit the Dispute to
such arbitration, then the provisions of Section&nbsp;7.3(e) shall become effective with respect to such
Dispute. The provisions of this Section&nbsp;7.3(d) shall not obligate the Indemnifying Party and the
Indemnified Party to submit to arbitration or any other alternative dispute resolution procedure
with respect to any Dispute.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;If, as set forth in Section&nbsp;7.3(d), the Indemnified Party and the Indemnifying Party agree
to submit any Dispute to binding arbitration, the arbitration shall be conducted by the Arbitrator
in accordance with the Commercial Rules in effect from time to time and the following provisions.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;In the event of any conflict between the Commercial Rules in effect from time to time and
the provisions of this Agreement, the provisions of this Agreement shall prevail and be
controlling.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;The parties shall commence the arbitration by jointly filing a written submission with
the New York City, New York office of the AAA in accordance with Commercial Rule&nbsp;5 (or any
successor provision).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;No depositions or other discovery shall be conducted in connection with the arbitration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;Not later than thirty (30)&nbsp;days after the conclusion of the arbitration hearing, the
Arbitrator shall prepare and distribute to the parties a writing setting forth the arbitral award
and the Arbitrator&#146;s reasons therefor. Any award rendered by the Arbitrator shall be final,
conclusive and binding upon the parties, and judgment thereon may be entered and


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<P align="left" style="font-size: 10pt">enforced in any court of competent jurisdiction, provided that the Arbitrator shall have no
power or authority to grant injunctive relief, specific performance or other equitable relief.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;The Arbitrator shall have no power or authority, under the Commercial Rules or otherwise,
to (x)&nbsp;modify or disregard any provision of this Agreement, including the provisions of this
Section&nbsp;7.3(e), or (y)&nbsp;address or resolve any issue not submitted by the Parties.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;In connection with any arbitration proceeding pursuant to this Agreement, each Party
shall bear its own costs and expenses, except that the fees and costs of the AAA and the
Arbitrator, the costs and expenses of obtaining the facility where the arbitration hearing is held,
and such other costs and expenses as the Arbitrator may determine to be directly related to the
conduct of the arbitration and appropriately borne jointly by the Parties (which shall not include
any Party&#146;s attorneys&#146; fees or costs, witness fees (if any), costs of investigation and similar
expenses) shall be shared equally by the Indemnified Party and the Indemnifying Party.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;Notwithstanding the other provisions of this Section&nbsp;7.3, if a third party asserts (other
than by means of a lawsuit) that an Indemnified Party is liable to such third party for a monetary
or other obligation which may constitute or result in Damages for which such Indemnified Party may
be entitled to indemnification pursuant to this Article&nbsp;VII, and such Indemnified Party reasonably
determines that it has a valid business reason to fulfill such obligation, then, provided (i)&nbsp;the
amount paid by the Buyer and its Affiliates to satisfy any such third party claim does not exceed
$200,000 and (ii)&nbsp;the aggregate amount paid by the Buyer and its Affiliates to satisfy all such
third party claims does not exceed $400,000, then (A)&nbsp;such Indemnified Party shall be entitled to
satisfy such obligation, without prior notice to or consent from the Indemnifying Party, (B)&nbsp;such
Indemnified Party may subsequently make a claim for indemnification in accordance with the
provisions of this Article&nbsp;VII, and (C)&nbsp;such Indemnified Party shall be reimbursed, in accordance
with the provisions of this Article&nbsp;VII, for any such Damages for which it is entitled to
indemnification pursuant to this Article&nbsp;VII (subject to the right of the Indemnifying Party to
dispute the Indemnified Party&#146;s entitlement to indemnification, or the amount for which it is
entitled to indemnification, under the terms of this Article&nbsp;VII).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.4 <U>Survival of Representations and Warranties</U>. All representations and warranties
that are covered by the indemnification agreements in Section&nbsp;7.1(a) and Section&nbsp;7.2(a) shall (a)
survive the Closing and (b)&nbsp;shall expire on the date 15&nbsp;months following the Closing Date, except
that (i)&nbsp;the representations and warranties set forth in Sections&nbsp;2.1, 2.2, 2.3, 2.5, 3.1 and 3.2
shall survive the Closing without limitation, (ii)&nbsp;the representations and warranties set forth in
Sections&nbsp;2.9 and 2.18 shall survive until thirty (30)&nbsp;days following expiration of all statutes of
limitation applicable to the matters referred to therein and (iii)&nbsp;the representations and
warranties set forth in Section&nbsp;2.17 shall survive until the earlier to occur of (A)&nbsp;thirty (30)
days following expiration of all statutes of limitation applicable to the matters referred to
therein and (B)&nbsp;five (5)&nbsp;years after the Closing Date. If an Indemnified Party delivers to an
Indemnifying Party, before expiration of a representation or warranty, either a Claim Notice based
upon a breach of such representation or warranty, or an Expected Claim Notice based upon a breach
of such representation or warranty, then the applicable representation or warranty shall survive
until, but


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<P align="left" style="font-size: 10pt">only for purposes of, the resolution of the matter covered by such notice. If the legal
proceeding or written claim with respect to which an Expected Claim Notice has been given is
definitively withdrawn or resolved in favor of the Indemnified Party, the Indemnified Party shall
promptly so notify the Indemnifying Party. Except for the disclosures contained in the Disclosure
Schedule, the rights to indemnification set forth in this Article&nbsp;VII shall not be affected by (i)
any investigation conducted by or on behalf of an Indemnified Party or any knowledge acquired (or
capable of being acquired) by an Indemnified Party, whether before or after the date of this
Agreement or the Closing Date (including through supplements to the Disclosure Schedule permitted
by Section&nbsp;4.5 other than as expressly set forth in Section&nbsp;4.5), with respect to the inaccuracy or
noncompliance with any representation, warranty, covenant or obligation which is the subject of
indemnification hereunder or (ii)&nbsp;any waiver by an Indemnified Party of any closing condition
relating to the accuracy of any representations and warranties or the performance of or compliance
with agreements and covenants other than as expressly set forth in Section&nbsp;4.5.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.5 <U>Limitations</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Notwithstanding anything to the contrary herein, the Parent shall not have any
indemnification obligations for Damages under Section&nbsp;7.1(a) unless (i)&nbsp;the Damages with respect to
any individual item is equal to or greater than $50,000 (an &#147;Allowed Claim&#148;), and (ii)&nbsp;the
aggregate amount of all Damages (including, for this purpose, Damages for any claim that is not an
Allowed Claim) exceeds $1,200,000 (the &#147;Deductible&#148;), in which event Parent shall be required to
pay the amount of Damages in respect of Allowed Claims which exceed the Deductible, but only up to
a maximum amount of $50,000,000 (the &#147;Indemnification Cap&#148;); provided that the limitation set forth
in this sentence shall not apply to a claim pursuant to Section&nbsp;7.1(a) relating to a breach of the
representations and warranties set forth in Sections&nbsp;2.1, 2.2, 2.3, 2.5, 2.9 or 2.17. The Parent&#146;s
liability for Damages under Section&nbsp;7.1(d) shall not exceed $1,000,000. For purposes solely of
this Article&nbsp;VII and Article&nbsp;VIII, all representations and warranties of BGS and the Sellers in
Article&nbsp;II (other than with respect to lists called for by Sections&nbsp;2.11, 2.13(c), 2.13(d),
2.13(e), 2.20, 2.21, and 2.24 and Sections&nbsp;2.6 and 2.7) shall be construed as if the term
&#147;material&#148; and any reference to &#147;Business Material Adverse Effect&#148; (and variations thereof) were
omitted from such representations and warranties.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding anything to the contrary herein, the Buyer shall not have any
indemnification obligations for Damages under Section&nbsp;7.2(a) unless (i)&nbsp;such claim is an Allowed
Claim, and (ii)&nbsp;the aggregate amount of all Damages (including, for this purpose, Damages for any
claim that is not an Allowed Claim) exceeds the Deductible, in which event the Buyer shall be
required to pay the amount of Damages in respect of Allowed Claims which exceed the Deductible, but
only up to a maximum amount of the Indemnification Cap; provided that the limitation set forth in
this sentence shall not apply to a claim pursuant to Section&nbsp;7.2(a) relating to a breach of the
representations and warranties set forth in Sections&nbsp;3.1 or 3.2. For purposes solely of this
Article&nbsp;VII, all representations and warranties of the Buyer and the Transitory Subsidiary in
Article&nbsp;III (other than Sections&nbsp;3.5 and 3.6) shall be construed as if the term &#147;material&#148; and any
reference to &#147;Buyer Material Adverse Effect&#148; (and variations thereof) were omitted from such
representations and warranties.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Except with respect to claims based on fraud, after the Closing, the rights of the
Indemnified Parties under Article&nbsp;VII or Article&nbsp;VIII shall be the exclusive remedy of the
Indemnified Parties with respect to claims resulting from or relating to any misrepresentation,
breach of warranty or failure to perform any covenant or agreement contained in this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Notwithstanding anything in this Article&nbsp;VII or Article&nbsp;VIII to the contrary, Parent may,
at its sole election, be entitled to settle any indemnification obligation owing to the Buyer under
this Article&nbsp;VII or Article&nbsp;VIII by forfeiting within five (5)&nbsp;days after the determination of the
Average Settlement Price a number of shares of Buyer Common Stock determined by dividing the money
Damages payable to the Buyer in respect of any such indemnification claim by the Average Settlement
Price.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.6 <U>Treatment of Indemnity Payments</U>. Any payments made to an Indemnified Party
pursuant to this Article&nbsp;VII or pursuant to Article&nbsp;VIII shall be treated as an adjustment to the
Merger Consideration for Tax purposes.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.7 <U>Damages Net of Insurance, Etc</U>. The amount of any Damages for which
indemnification is provided under this Article&nbsp;VII or Article&nbsp;VIII shall be net of (a)&nbsp;any amounts
actually recovered by the Indemnified Party pursuant to any indemnification by or indemnification
agreement with any third party (less any costs of recovery) and (b)&nbsp;any insurance proceeds or other
cash receipts or sources of reimbursement actually received as an offset against such Damages (less
any costs of recovery) (each person named in clauses (a)&nbsp;and (b), a &#147;Collateral Source&#148;). The
Indemnified Party shall use commercially reasonable efforts to seek recovery from all Collateral
Sources other than any material customer of the Business; provided, however, that in no event shall
an Indemnified Party be required to commence any litigation against any such Collateral Source or
otherwise exhaust its remedies against any such Collateral Source as a condition precedent to the
recovery of Damages under this Agreement. If the amount to be netted hereunder in connection with
a Collateral Source from any payment required under this Article&nbsp;VII and Article&nbsp;VIII is determined
after payment by the Indemnifying Party of any amount otherwise required to be paid to an
Indemnified Party to this Article&nbsp;VII and Article&nbsp;VIII, the Indemnified Party shall repay to the
Indemnifying Party, promptly after such determination, any amount that the Indemnifying Party would
not have had to pay pursuant to this Article&nbsp;VII and Article&nbsp;VIII had such determination been made
at the time of such payment, and any excess recovery from a Collateral Source shall be applied to
reduce any future payments to be made by an Indemnified Party pursuant to this Article&nbsp;VII and
Article&nbsp;VIII.


<P align="center" style="font-size: 10pt"><B>ARTICLE VIII</B>



<P align="center" style="font-size: 10pt"><B>TAX MATTERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.1 <U>Preparation and Filing of Tax Returns; Payment of Taxes</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Sellers shall prepare and timely file or shall cause to be prepared and timely filed
(i)&nbsp;all Tax Returns for the Sellers for all periods, (ii)&nbsp;all Tax Returns for any Income Taxes of
any Business Subsidiary and any Operating Subsidiary for all Pre-Closing Tax Periods, and (iii)&nbsp;all
other Tax Returns of any Business Subsidiary and any Operating Subsidiary required to be filed
(taking into account extensions) prior to the Closing Date. The Sellers shall make or



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<P align="left" style="font-size: 10pt">cause to be made all payments required with respect to any such Tax Returns pursuant to this
Agreement. The Buyer shall promptly reimburse the Sellers for the amount of any such Taxes paid by
the Sellers to the extent such Taxes are not Pre-Closing Taxes to the extent that Buyer is so
required pursuant to this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Buyer shall prepare and timely file or shall cause to be prepared and timely filed all
other Tax Returns for the Business. The Buyer shall make all payments required with respect to any
such Tax Returns; <U>provided</U>, <U>however</U>, that subject to Section&nbsp;8.1(c), the Sellers
shall promptly reimburse the Buyer to the extent any payment the Buyer is required to make is a
Pre-Closing Tax.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Buyer shall provide the Sellers with the Buyer&#146;s calculations regarding the amount of
any Taxes which the Buyer determines has given rise to a right of indemnification pursuant to
Section&nbsp;8.2 hereof in sufficient detail and particularity to enable the Sellers to verify the
amount of the required indemnification. The Buyer shall also provide the Sellers with a copy of
each proposed Tax Return (and such additional information regarding such Tax Return as may
reasonably be requested by the Sellers) at least thirty (30)&nbsp;days prior to the due date for such
Tax Return to the extent possible in light of the number of days between the end of the applicable
Tax period and the due date for the Tax Return. No later than fifteen (15)&nbsp;days prior to the due
date for filing of such Tax Return (or as soon as practicable following Buyer&#146;s provision of the
Tax Return to Sellers where Buyer has provided the Tax Return less than thirty (30)&nbsp;days before the
due date for the Tax Return), the Sellers shall notify the Buyer of any reasonable objections the
Sellers may have to the Buyer&#146;s calculations regarding the amount of such Taxes which the Buyer
determined has given rise to a right of indemnification pursuant to Section&nbsp;8.2 hereof and to any
items set forth in such draft Tax Returns. The Buyer and the Sellers agree that any such
objections shall be resolved in a manner consistent with the past practices with respect to such
items unless (i)&nbsp;required by law or (ii)&nbsp;pursuant to the advice of Buyer&#146;s tax counsel, provided,
however, that if the Sellers object to the advice of Buyer&#146;s tax counsel, the parties agree to
consult and resolve in good faith any such objection and the parties further agree that if they are
unable to resolve such objection, they will submit the dispute to binding arbitration in accordance
with the provisions of Section&nbsp;7.3(e) of this Agreement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Any transfer, sales, use, stamp, conveyance, value added, recording, registration,
documentary, filing and other non-Income Taxes and administrative fees (including, without
limitation, notary fees) arising in connection with the consummation of the transactions
contemplated by this Agreement (&#147;Transfer Taxes&#148;) shall be paid as follows: (i)&nbsp;the first $150,000
of Transfer Taxes shall be paid by the Buyer and (ii)&nbsp;the amount of any Transfer Taxes in excess of
$150,000 shall be paid equally by the Buyer and the Sellers.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.2 <U>Tax Indemnification</U>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Sellers shall indemnify and hold harmless the Buyer, each Business Subsidiary, each
Operating Subsidiary, and any successors thereto or Affiliates thereof in respect of and against
(x)&nbsp;Damages resulting from, relating to, or constituting a breach of any representation contained
in Section&nbsp;2.9 hereof, (y)&nbsp;the failure to perform any covenant or agreement set forth in this
Article&nbsp;VIII, and (z)&nbsp;without duplication, the following Taxes:



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;any Pre-Closing Taxes;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;any Taxes for any taxable period ending on or before the Closing Date for which any
Business Subsidiary or any Operating Subsidiary has any liability under Treasury Regulations
Section&nbsp;1.1502-6 or under any comparable or similar provision of state, local or foreign laws, as a
transferee or successor, or pursuant to any contractual obligation; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;any Taxes arising under or in connection with any Business Benefit Plan or any rights
thereunder granted prior to Closing (whether or not such rights are exercised or become vested on,
at or after Closing);

<P align="left" style="font-size: 10pt">provided, however, that the Sellers shall not be liable for and shall not indemnify the Buyer, any
Business Subsidiary, any Operating Subsidiary or any successors thereto or Affiliates thereof for
any liability for Taxes (A)&nbsp;resulting from transactions or actions taken by the Buyer, any Business
Subsidiary or any Operating Subsidiary on the Closing Date that are taken after the Closing, except
for transactions or actions undertaken in the Ordinary Course of Business and (B)&nbsp;in respect of
income or gain for which any Business Subsidiary or any Operating Subsidiary has &#147;net operating
losses,&#148; as defined in Section 172(c) of the Code (or any corresponding provision of state, local
or non-U.S. Tax law) from any taxable period ending on or prior to the Closing Date, and, with
respect to any taxable period beginning on or before and ending after the Closing Date, the portion
of such taxable period ending on and including the Closing Date, available to offset such income or
gain after taking into account any limitation on net operating loss carryforwards under Section&nbsp;382
of the Code (or any corresponding provision of state, local or non-U.S. Tax law). Notwithstanding
the foregoing clause (B), the Buyer shall have no obligation to offset any such income by any such
&#147;net operating losses&#148; to reduce the Taxes for which the Sellers are liable under this Section
8.2(a) unless the Sellers timely provide to the Buyer upon the Buyer&#146;s request therefor a schedule
setting forth the amount of available &#147;net operating losses&#148; and the year(s) such losses were
incurred, and an analysis prepared by a nationally recognized law or accounting firm satisfactory
to the Buyer setting forth the amount of any limitation under Section&nbsp;382 of the Code (and any
corresponding provision of state, local or non-U.S. Tax law).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Buyer shall indemnify and hold harmless the Sellers in respect of and against (x)&nbsp;the
failure to perform any covenant or agreement set forth in this Article&nbsp;VIII, and (y)&nbsp;without
duplication, any and all Taxes due and payable by any Business Subsidiary or any Operating
Subsidiary arising in the ordinary course of business for any taxable period beginning before and
ending on or after the Closing Date. For the avoidance of doubt, the Buyer shall not be
responsible for any Pre-Closing Taxes.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.3 <U>Allocation of Certain Taxes</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Buyer and the Sellers agree that if any Business Subsidiary, any Operating Subsidiary
or any Seller is permitted but not required under applicable foreign, state or local Tax laws to
treat the Closing Date as the last day of a taxable period, the Buyer and the Sellers shall treat
such day as the last day of a taxable period. The Buyer and the Sellers agree that they will treat
any Business Subsidiary and any Operating Subsidiary as if they ceased to be part of the affiliated
group of corporations of which the Parent is a member within the meaning



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<P align="left" style="font-size: 10pt">of Section&nbsp;1504 of the Code, and any comparable or similar provision of state, local or
foreign laws or regulations, as of the close of business on the Closing Date.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) (i)&nbsp;If any Business Subsidiary or Operating Subsidiary is entitled to a refund or credit
of Income Taxes for any Pre-Closing Tax Period that is attributable to the carryback of losses,
credits or similar items of any Business Subsidiary or Operating Subsidiary from any period
beginning after the Pre-Closing Tax Period and if the refund or credit is paid to the Sellers, the
Sellers shall pay to the Buyer the amount of such refund or credit promptly after receipt, together
with any interest or other amount received in connection therewith. (ii)&nbsp;Any Tax refund received
by the Buyer, any Business Subsidiary or any Operating Subsidiary, and any amounts of overpayments
of Tax credited against Tax which the Buyer, any Business Subsidiary or any Operating Subsidiary
otherwise would be or would have been required to pay that relate to any Pre-Closing Tax Period, or
portion thereof, shall be for the account of the Sellers, and the Buyer shall pay over to the
Sellers any such refund or the amount of any such credit within fifteen (15)&nbsp;days after receipt or
entitlement thereto together with any interest or other amount received in connection therewith.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.4 <U>Cooperation on Tax Matters; Tax Audits</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Buyer and the Sellers and their respective Affiliates shall cooperate in the
preparation of all Tax Returns and the conduct of any Tax audits or other administrative or
judicial proceedings relating to the determination of any Tax for any Tax periods for which one
Party could reasonably require the assistance of the other Party in obtaining any necessary
information. Such cooperation shall include, but not be limited to, furnishing prior years&#146; Tax
Returns or return preparation packages to the extent reasonably related to the Business
illustrating previous reporting practices or containing historical information relevant to the
preparation of such Tax Returns, and furnishing such other information within such Party&#146;s
possession requested by the Party filing such Tax Returns as is reasonably relevant to their
preparation. Such cooperation and information also shall include without limitation provision of
powers of attorney for the purpose of signing Tax Returns and defending audits and promptly
forwarding copies of appropriate notices and forms or other communications received from or sent to
any Taxing Authority which relate to the Business, and providing copies of all relevant Tax Returns
of the Business Subsidiaries or the Operating Subsidiaries to the extent related to the Business,
together with accompanying schedules and related workpapers, documents relating to rulings or other
determinations by any Taxing Authority and records concerning the ownership and Tax basis of
property, which the requested Party may possess. The Buyer and the Sellers and their respective
Affiliates shall make their respective employees and facilities available on a mutually convenient
basis to explain any documents or information provided hereunder.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The Sellers shall have the right, at their own expense, to control any Tax Audit, initiate
any claim for refund, contest, resolve and defend against any assessment, notice of deficiency, or
other adjustment or proposed adjustment relating to any and all Taxes for any Pre-Closing Tax
Period. The Buyer shall have the right, at its own expense, to control any other Tax Audit,
initiate any other claim for refund, and contest, resolve and defend against any other assessment,
notice of deficiency, or other adjustment or proposed adjustment relating to Taxes



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<P align="left" style="font-size: 10pt">with respect to the Business; provided that, with respect to any item the adjustment of which
may cause any Seller to become obligated to make any payment pursuant to Section&nbsp;8.2(a) hereof, the
Buyer shall consult with the Sellers with respect to the resolution of any issue that would affect
any Seller, and not settle any such issue, or file any amended Tax Return relating to such issue,
without the consent of the Sellers. Where consent to a settlement is withheld by any Seller
pursuant to this Section&nbsp;8.4(b), such Seller may continue or initiate any further proceedings at
its own expense, provided that any liability of the Buyer, after giving effect to this Agreement,
shall not exceed the liability that would have resulted had such Seller not continued or initiated
further proceedings.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Without the prior written consent of the Sellers, none of the Buyer, any Business
Subsidiary or any Operating Subsidiary shall carry back or elect to carry back any net operating
loss or other item or attribute available in the U.S. or a U.S. state or local jurisdiction to a
Pre-Closing Tax Period unless the Buyer, any Business Subsidiary or any Operating Subsidiary is
required by law to do so. The Buyer, the Business Subsidiaries and the Operating Subsidiaries
agree to reimburse the Sellers for any reasonable out-of-pocket costs incurred by the Sellers
connected therewith, including, but not limited to, reasonable out-of-pocket costs of time spent by
independent accountants preparing such carryback Tax Returns and any adjustment to Taxes for which
Sellers are liable hereunder.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.5 <U>Termination of Tax Sharing Agreements</U>. All Tax sharing agreements or similar
arrangements with respect to or involving the Business shall be terminated or amended to eliminate
the Business Subsidiaries and the Operating Subsidiaries as parties to such agreements prior to the
Closing Date and, after the Closing Date, none of the Buyer, the Business Subsidiaries, the
Operating Subsidiaries or their Affiliates shall be bound thereby or have any liability thereunder
for amounts due in respect of periods beginning after the Pre-Closing Tax Period.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 <U>338(h)(10) Election</U>. The Parent will join with the Buyer in making a Section
338(h)(10) Election with respect to the acquisition of the BGS Shares contemplated by this
Agreement. The Buyer and the Parent shall cooperate fully in the making of such Section&nbsp;338(h)(10)
Election. In particular, and not by way of limitation, in order to effect such Section&nbsp;338(h)(10)
Election the Buyer and the Parent shall jointly execute on or prior to the Closing Date, Internal
Revenue Service Form&nbsp;8023 and all attachments required to be filed therewith pursuant to the
applicable Treasury Regulations (it being agreed that the Allocation Schedule will be prepared in
accordance with Section&nbsp;1.10 of this Agreement). Such Form&nbsp;8023 and attachments shall be held by
Buyer and shall be filed by the Buyer on behalf of itself and the Parent in accordance with, and
within the time prescribed by, Section&nbsp;338 of the Code and the regulations thereunder. The Buyer
and the Parent agree to report the transaction for tax purposes in a manner consistent with the
making of such Section&nbsp;338(h)(10) Election. The Parent and the Buyer agree that all additional
Taxes that are payable as a result of the treatment for state tax purposes of the Merger as a sale
of assets instead of a sale of stock associated with making any such Section&nbsp;338(h)(10) Election
shall be borne by the Buyer, and the Buyer shall indemnify the Parent for all such Taxes; provided,
however, that Buyer shall not be obligated to pay more than $300,000 in connection therewith.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.7 <U>Section&nbsp;338(g) Election</U>. In its sole discretion, the Buyer may make an election
under Section 338(g) of the Code with respect to the purchase of the stock of the Subsidiaries of
BGS that are not &#147;United States persons&#148; as defined in Section&nbsp;7701(a)(30) of the Code; provided,
however, that if the Buyer makes a Section 338(g) election with respect to one such Subsidiary, it
will make such an election with respect to all such Subsidiaries.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.8 <U>Scope of Article&nbsp;VIII</U>. Any claim by any Party relating to a breach by another
Party of its obligations under this Article&nbsp;VIII shall be pursued in accordance with the procedures
for indemnification claims, and shall otherwise be subject to the terms and conditions, set forth
in Article&nbsp;VII. Notwithstanding the foregoing or any other term or condition of Article&nbsp;VII, (i)
claims for a breach of an obligation under this Article&nbsp;VIII may be made by a Party at any time
prior to the 60th day after the expiration of the statute of limitations applicable to the Tax
matter to which the claim relates and (ii)&nbsp;to the extent there is any inconsistency between the
terms of Article&nbsp;VII and this Article&nbsp;VIII with respect to the allocation of responsibility between
the Sellers and the Buyer for Taxes relating to the Business, the provisions of this Article&nbsp;VIII
shall govern.


<P align="center" style="font-size: 10pt"><B>ARTICLE IX</B>



<P align="center" style="font-size: 10pt"><B>TERMINATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.1 <U>Termination of Agreement</U>. The Parties may terminate this Agreement prior to the
Closing, as provided below:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;the Parties may terminate this Agreement by mutual written consent;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;the Buyer may terminate this Agreement (provided that the Buyer is not in material breach
of this Agreement) by giving written notice to the Parent in the event the Sellers are in breach of
any representation, warranty or covenant contained in this Agreement, and such breach, individually
or in combination with any other such breach, (i)&nbsp;would cause the conditions set forth in clauses
(b)&nbsp;or (c)&nbsp;of Section&nbsp;5.2 not to be satisfied and (ii)&nbsp;is not cured within twenty (20)&nbsp;days
following delivery by the Buyer to the Parent of written notice of such breach;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;the Parent may terminate this Agreement (provided that no Seller is in material breach of
this Agreement) by giving written notice to the Buyer in the event the Buyer is in breach of any
representation, warranty or covenant contained in this Agreement, and such breach, individually or
in combination with any other such breach, (i)&nbsp;would cause the conditions set forth in clauses (a)
or (b)&nbsp;of Section&nbsp;5.3 not to be satisfied and (ii)&nbsp;is not cured within twenty (20)&nbsp;days following
delivery by the Parent to the Buyer of written notice of such breach;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;the Buyer may terminate this Agreement by giving written notice to the Parent if the
Closing shall not have occurred on or before February&nbsp;15, 2006 by reason of the failure of any
condition precedent under Section&nbsp;5.1 or 5.2 (unless the failure results primarily from a breach by
the Buyer of any representation, warranty or covenant contained in this Agreement);



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;the Parent may terminate this Agreement by giving written notice to the Buyer if the
Closing shall not have occurred on or before February&nbsp;15, 2006 by reason of the failure of any
condition precedent under Section&nbsp;5.1 or 5.3 (unless the failure results primarily from a breach by
the Sellers of any representation, warranty or covenant contained in this Agreement);



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;the Parent may terminate this Agreement prior to the commencement of or after the
expiration of the Exclusivity Period by giving written notice to the Buyer if the Parent&#146;s board of
directors, after compliance with the Parent&#146;s obligations set forth in Section&nbsp;4.7, determines in
good faith (after consultation with outside counsel) that its fiduciary obligations require it to
do so;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;the Parent or the Buyer may terminate this Agreement if there shall be any (i)&nbsp;law of any
Governmental Entity having jurisdiction over BGS, its Subsidiaries, the parties hereto or the
transactions contemplated by this Agreement that makes consummation of the transactions
contemplated hereby illegal or otherwise prohibited, or (ii)&nbsp;order of a Governmental Entity of
competent jurisdiction that permanently restrains, permanently enjoins, or permanently otherwise
prohibits the consummation of the transactions contemplated hereby and such order shall become
final and non-appealable;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;the Parent may terminate this Agreement if on the Closing Date (i)&nbsp;the Financing
Commitment is not in full force and effect or a replacement of the Financing Commitment sufficient
to enable the Buyer to consummate the transactions contemplated by this Agreement has not been
obtained by the Buyer or (ii)&nbsp;the difference between (A)&nbsp;the Cash Consideration and (B)&nbsp;the sum of
the amount of cash available to the Buyer and the amount of any such financing commitment exceeds
(C) $20,000,000; or



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;the Buyer may terminate this Agreement within three (3)&nbsp;Business Days after the Parent&#146;s
delivery of the S-X Financial Statements to the Buyer if the S-X Financial Statements shall
indicate that (i)&nbsp;the revenue from external customers of the Business is more than five percent
(5%) less than the amount set forth in the line item entitled &#147;Revenue from external customers:
Globalization&#148; in the Notes to Consolidated Financial Statements set forth in Parent&#146;s Form 10-K
for the fiscal year ended December&nbsp;31, 2004 or (ii)&nbsp;the segment profit of the Business is more than
fifteen percent (15%) less than the amount set forth in the line item entitled &#147;Segment profit
(loss): Globalization&#148; in the Notes to Consolidated Financial Statements set forth in Parent&#146;s Form
10-K for the fiscal year ended December&nbsp;31, 2004.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.2 <U>Effect of Termination</U>. If either the Parent or the Buyer terminates this
Agreement pursuant to Section&nbsp;9.1, all obligations of the Parties hereunder shall terminate without
any liability of any Party to the other Parties (except for any liability of a Party for breaches
of this Agreement), and the provisions set forth in Sections&nbsp;6.7, 11.1, 11.7, 11.8, 11.11, 11.13
and 11.14 shall survive any such termination; provided, however, that in the event the Parent
terminates this Agreement pursuant to Section&nbsp;9.1(h)(i) above, the Buyer shall not be relieved of
liability under this Agreement or under applicable law. Notwithstanding the foregoing, Parent
shall pay Buyer a termination fee of $3,000,000 in the event of (a)&nbsp;the termination of this
Agreement pursuant to Section&nbsp;9.1(f), and (b)&nbsp;the consummation of the sale, in any manner, directly
or


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<P align="left" style="font-size: 10pt">indirectly, of any of BGS and its Subsidiaries or any material portion of the consolidated
total assets of the Business within nine (9)&nbsp;months of termination of this Agreement. Such
termination fee shall be paid by wire transfer of same-day funds within one (1)&nbsp;Business Day after
the consummation of such transaction.


<P align="center" style="font-size: 10pt"><B>ARTICLE X</B>



<P align="center" style="font-size: 10pt"><B>DEFINITIONS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1 <U>Definitions</U>. For purposes of this Agreement, each of the following terms shall
have the meaning set forth below.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>AAA</U>&#148; shall mean the American Arbitration Association.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Acquisition Proposal</U>&#148; shall mean (a)&nbsp;any inquiry, proposal or offer for a merger,
consolidation, dissolution, sale of substantial assets, tender offer, recapitalization, share
exchange or other business combination involving any Business Subsidiary or Operating Subsidiary or
(b)&nbsp;any proposal or offer to acquire in any manner, directly or indirectly, any of the equity
securities or any material portion of the consolidated total assets of the Business, in each case
other than the transactions contemplated by this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Affiliate</U>&#148; shall mean any affiliate, as defined in Rule&nbsp;12b-2 under the Securities
Exchange Act of 1934.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Affiliated Group</U>&#148; shall mean a group of corporations with which any Seller, Business
Subsidiary or Operating Subsidiary has filed (or was required to file) consolidated, combined,
unitary or similar Tax Returns.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Affiliated Period</U>&#148; shall mean any period in which any Seller, Business Subsidiary or
Operating Subsidiary was a member of an Affiliated Group.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Aggregate Option Consideration</U>&#148; shall mean the aggregate amount of Option
Consideration payable to all Option holders.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Agreed Amount</U>&#148; shall mean part, but not all, of the Claimed Amount.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Allocation Schedule</U>&#148; has the meaning set forth in Section&nbsp;1.10.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Allowed Claim</U>&#148; has the meaning set forth in Section&nbsp;7.5(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Antitrust Authority</U>&#148; shall mean the Federal Trade Commission, the Antitrust Division
of the United States Department of Justice, the attorneys general of the several states of the
United States and any other Governmental Entity having jurisdiction with respect to the
transactions contemplated hereby pursuant to applicable Antitrust Laws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Antitrust Laws</U>&#148; shall mean the Sherman Act, the Clayton Act, the Hart-Scott-Rodino
Act, the Federal Trade Commission Act, in each case as amended, and all other federal, state and


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<P align="left" style="font-size: 10pt">foreign statutes, rules, regulations, orders, decrees, administrative and judicial doctrines,
and other laws that are designed or intended to prohibit, restrict or regulate actions having the
purpose or effect of monopolization or restraint of trade.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Arbitrator</U>&#148; shall mean the single arbitrator to which a Dispute is submitted pursuant
to Section&nbsp;7.3(e).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Average Closing Price</U>&#148; shall mean the volume weighted average price of Buyer Common
Stock during the Trading Period, as reported by the principal exchange or market on which Buyer
Common Stock is traded.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Average Settlement Price</U>&#148; shall mean the volume weighted average price of Buyer
Common Stock during the thirty (30)&nbsp;trading day period ending on the trading day immediately
preceding the day a final judgment is entered with respect to, or the Buyer and Parent agree in
writing to settle, any indemnification claim owing to the Buyer under Article&nbsp;VII or Article&nbsp;VIII,
as reported by the principal exchange or market on which Buyer Common Stock is traded. The
calculation of the Average Settlement Price shall take into consideration any stock split, stock
dividend, reverse stock split or similar event affecting the Buyer Common Stock during such trading
period.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Balance Sheet</U>&#148; shall have the meaning set forth in Section&nbsp;2.6(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Balance Sheet Date</U>&#148; shall have the meaning set forth in Section&nbsp;2.6(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BGS</U>&#148; shall have the meaning set forth in the first paragraph of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BGS Covered Person</U>&#148; shall have the meaning set forth in Section&nbsp;6.8.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BGS Shares</U>&#148; shall mean the shares of common stock, $.01 par value per share, of BGS.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BGS Stock Plan</U>&#148; shall mean any stock option plan or other stock or equity-related
plan of BGS.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BGS Stockholders</U>&#148; shall mean the stockholders of record of BGS immediately prior to
the Effective Time.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Bowne New York</U>&#148; shall have the meaning set forth in the first paragraph of this
Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>BTS Business</U>&#148; shall mean the translation business conducted by Bowne Translation
Services and Bowne Financial Print.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business</U>&#148; shall mean the business of providing globalization, localization,
interpretation and technical writing services.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&#147;Business Benefit Plan</U>&#148; shall mean any Employee Benefit Plan maintained, or
contributed to, by any Seller, Business Subsidiary, Operating Subsidiary or any ERISA Affiliate for
the benefit of one or more Business Employees or former Business Employees.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Day</U>&#148; shall mean any day other than (a)&nbsp;a Saturday or Sunday or (b)&nbsp;a day on
which banking institutions in Boston, Massachusetts or New York, New York are permitted or required
by law, executive order or governmental decree to remain closed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Employees</U>&#148; shall mean all employees of any Seller, Business Subsidiary or
Operating Subsidiary who have performed or are performing services related to the Business.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Intellectual Property</U>&#148; shall mean the Intellectual Property owned by or
licensed to any Business Subsidiary or Operating Subsidiary and covering, incorporated in,
underlying or used in connection with the Customer Deliverables or the Internal Systems.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Material Adverse Effect</U>&#148; shall mean any material adverse change, event,
circumstance or development with respect to, or material adverse effect on, the financial condition
or results of operations of BGS and its Subsidiaries, taken as a whole, other than any adverse
change or effect arising out of (a)&nbsp;changes in general economic or political conditions or the
financing or capital markets in general or changes in currency exchange rates, (b)&nbsp;changes in laws
or interpretations thereof by any Governmental Entity or changes in accounting requirements or
principles, (c)&nbsp;changes affecting generally the industries or markets in which BGS and its
Subsidiaries conduct business which do not have a disproportionate impact on BGS and its
Subsidiaries, taken as a whole, (d)&nbsp;the consummation of the transactions contemplated hereby or any
actions by the Sellers taken pursuant to this Agreement or in connection with the transactions
contemplated hereby, (e)&nbsp;any natural disaster, sabotage, military action or war (whether or not
declared) or any escalation or worsening thereof, (f)&nbsp;any action required to be taken under any law
or order or any existing Contract by which BGS or any of its Subsidiaries (or any of their
respective properties) is bound, (g)&nbsp;any failure by BGS, in and of itself, to meet any internal
projections or forecasts or (h)&nbsp;a loss of customers other than a loss of any customers of the
Business that results in a decrease in revenues of the Business after the date hereof such that the
trailing twelve (12)&nbsp;month revenue of the Business as of the earlier to occur of (i)&nbsp;the Closing
Date and (ii)&nbsp;the date four (4)&nbsp;months after the date of this Agreement, is less than ninety
percent (90%) of the trailing twelve (12)&nbsp;month revenue of the Business as of May&nbsp;31, 2005. The
terms &#147;material&#148;, &#147;materially&#148; or &#147;materiality&#148; as used in this Agreement with an initial lower
case &#147;m&#148; shall have their respective customary and ordinary meanings, without regard to the meaning
ascribed to Business Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Business Subsidiaries</U>&#148; shall mean BGS, Bowne Global Solutions II Inc., a Delaware
corporation, and Bowne of Europe B.V., a Netherlands corporation.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer</U>&#148; shall have the meaning set forth in the first paragraph of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Certificate</U>&#148; shall mean a certificate of the Chief Executive Officer or Chief
Financial Officer of the Buyer to the effect that each of the conditions specified in clauses (a)
through (c) (insofar as clause (c)&nbsp;relates to Legal Proceedings involving the Buyer) of Section&nbsp;5.3
is satisfied in all material respects, which shall also include the incumbency of all officers
executing any agreement or document on behalf of the Buyer pursuant to this Agreement and shall
have attached a true and correct copy of the resolutions of the board of directors of the Buyer
authorizing the transactions contemplated hereby.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Common Stock</U>&#148; shall mean the shares of common stock, $.01 par value per share,
of the Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Customer Deliverables</U>&#148; shall mean the services that the Buyer and the Buyer
Subsidiaries (a)&nbsp;currently provide, or (b)&nbsp;have provided within the previous three (3)&nbsp;years, or
(c)&nbsp;currently plan to provide in the future.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Internal Systems</U>&#148; shall mean the internal systems of the Buyer and the Buyer
Subsidiaries, including computer hardware systems, software applications and embedded systems.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Intellectual Property</U>&#148; shall mean the Intellectual Property owned by or
licensed to the Buyer or any Business Subsidiary and covering, incorporated in, underlying or used
in connection with the Buyer Customer Deliverables or the Buyer Internal Systems.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Material Adverse Effect</U>&#148; shall mean any material adverse change, event,
circumstance or development with respect to, or material adverse effect on, the financial condition
or results of operations of the Buyer and its Subsidiaries, taken as a whole, other than any
adverse change or effect arising out of (a)&nbsp;changes in general economic or political conditions or
the financing or capital markets in general or changes in currency exchange rates, (b)&nbsp;changes in
laws or interpretations thereof by any Governmental Entity or changes in accounting requirements or
principles, (c)&nbsp;changes affecting generally the industries or markets in which the Buyer and its
Subsidiaries conduct business which do not have a disproportionate impact on Buyer and its
Subsidiaries, taken as a whole, (d)&nbsp;the consummation of the transactions contemplated hereby or any
actions by the Buyer taken pursuant to this Agreement or in connection with the transactions
contemplated hereby, (e)&nbsp;any natural disaster or any acts of terrorism, sabotage, military action
or war (whether or not declared) or any escalation or worsening thereof, (f)&nbsp;any action required to
be taken under any law or order or any existing Contract by which Buyer or any of its Subsidiaries
(or any of their respective properties) is bound or (g)&nbsp;any failure by Buyer, in and of itself, to
meet any internal projections or forecasts. A decline in the trading price of the Buyer Common
Stock, in and of itself, shall not constitute a Buyer Material Adverse Effect.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer SEC Reports</U>&#148; shall mean all registration statements, forms, reports and other
documents (including those that the Buyer may file after the date hereof until the Closing) filed
by the Buyer with the SEC since January&nbsp;1, 2003.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Shares</U>&#148; shall mean the shares of Buyer Common Stock to be delivered to the
Parent pursuant to Section&nbsp;1.3(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Buyer Subsidiary</U>&#148; shall mean any Subsidiary of the Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Cash Consideration</U>&#148; shall mean an amount equal to (a) $180,000,000 minus (b)&nbsp;the
value of the Stock Consideration calculated at the Average Closing Price; provided, however, that
in no event shall the cash delivered at the Closing be less than $130,000,000 and in no event shall
the aggregate amount of the Seller Notes exceed $20,000,000.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>CERCLA</U>&#148; shall mean the federal Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Certificate of Merger</U>&#148; shall mean the certificate of merger or other appropriate
documents prepared and executed in accordance with Section 251(c) of the Delaware General
Corporation Law.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Claimed Amount</U>&#148; shall mean the amount of any Damages incurred or reasonably expected
to be incurred by the Indemnified Party.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Claim Notice</U>&#148; shall mean written notification which contains (a)&nbsp;a description of the
Damages incurred or reasonably expected to be incurred by the Indemnified Party and the Claimed
Amount of such Damages, to the extent then known, (b)&nbsp;a statement that the Indemnified Party is
entitled to indemnification under Article&nbsp;VII for such Damages and a reasonable explanation of the
basis therefor, and (c)&nbsp;a demand for payment in the amount of such Damages.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing</U>&#148; shall mean the closing of the transactions contemplated by this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Closing Date</U>&#148; shall mean, unless otherwise agreed by the Parties, the later to occur
of (a)&nbsp;September&nbsp;1, 2005 and (b)&nbsp;the first Business Day of the next calendar month after the
satisfaction or waiver of all of the conditions to the obligations of the Parties to consummate the
transactions contemplated hereby (excluding the delivery at the Closing of any of the documents set
forth in Article&nbsp;V), or such other date as may be mutually agreeable to the Parties.
Notwithstanding the foregoing, for purposes of determining the Closing Date under clause (b)&nbsp;of the
prior sentence, if the Closing Date is scheduled to occur prior to the expiration of the
Exclusivity Period, then (i)&nbsp;if the Exclusivity Period expires prior to the last five (5)&nbsp;days of
the month, the Closing Date shall occur on the first Business Day of the next calendar month after
the expiration of the Exclusivity Period and (ii)&nbsp;if the Exclusivity Period expires within the last
five (5)&nbsp;days of the month, the Closing Date shall occur on a date selected by the Parent and the
Buyer that is no earlier than the first Business Day of the next calendar month after the
expiration of the Exclusivity Period and no later than the first Business Day of the second next
proceeding calendar month after the expiration of the Exclusivity Period.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Code</U>&#148; shall mean the Internal Revenue Code of 1986, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collateral Source</U>&#148; shall have the meaning set forth in Section&nbsp;7.7.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Collective Bargaining Agreements</U>&#148; shall have the meaning set forth in Section&nbsp;6.10.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Commercial Rules</U>&#148; shall mean the Commercial Arbitration Rules of the AAA.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Confidentiality Agreement</U>&#148; shall have the meaning set forth in Section&nbsp;4.4(c).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Contract</U>&#148; shall mean any note, bond, mortgage, indenture, license, agreement,
contract or lease, including all amendments thereto.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Controlling Party</U>&#148; shall mean the party controlling the defense of any Third Party
Action.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Customer Deliverables</U>&#148; shall mean the services that the Business (a)&nbsp;currently
provides, or (b)&nbsp;has provided within the previous three (3)&nbsp;years, or (c)&nbsp;currently plans to
provide in the future.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Damages</U>&#148; shall mean any and all debts, obligations and other liabilities (whether
absolute, accrued, contingent, fixed or otherwise, or whether known or unknown, or due or to become
due or otherwise), monetary damages, fines, fees, penalties, interest obligations, deficiencies,
losses and expenses (including amounts paid in settlement, interest, court costs, costs of
investigators, reasonable fees and expenses of attorneys, accountants, financial advisors and other
experts, and other expenses of litigation), other than those costs and expenses of arbitration of a
Dispute which are to be shared equally by the Indemnified Party and the Indemnifying Party as set
forth in Section&nbsp;7.3(e)(vi). Damages shall not include (and no party shall have any
indemnification rights with respect to) lost profits, lost revenues, lost opportunities,
consequential damages, punitive damages and other special damages regardless of the legal theory;
<U>provided</U>, <U>however</U>, that any of the foregoing amounts payable in connection with the
settlement or satisfaction of a judgment with respect to any Third Party Action shall constitute
actual Damages.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Deductible</U>&#148; shall have the meaning set forth in Section&nbsp;7.5(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Disclosure Schedule</U>&#148; shall mean the disclosure schedule provided by the Sellers to
the Buyer on the date hereof, as the same may be supplemented pursuant to Section&nbsp;4.5(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Dispute</U>&#148; shall mean the dispute resulting if the Indemnifying Party in a Response
disputes its liability for all or part of the Claimed Amount.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Dissenting Shares</U>&#148; shall mean BGS Shares held as of the Effective Time by a BGS
Stockholder who has not voted such BGS Shares in favor of the adoption of this Agreement and with
respect to which appraisal shall have been duly demanded and perfected in accordance with Section
262 of the Delaware General Corporation Law and not effectively withdrawn or forfeited prior to the
Effective Time.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Effective Time</U>&#148; shall mean the time at which the Surviving Corporation files the
Certificate of Merger with the Secretary of State of the State of Delaware.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Employee Benefit Plan</U>&#148; shall mean any &#147;employee pension benefit plan&#148; (as defined in
Section&nbsp;3(2) of ERISA), any &#147;employee welfare benefit plan&#148; (as defined in Section&nbsp;3(1) of ERISA),
and any other written or oral plan, agreement or arrangement (whether or not subject to ERISA)
involving direct or indirect compensation, including pension, lump sum, gratuity, insurance
coverage, life assurance, fringe benefits, severance benefits, disability benefits (including life
assurance, private medical or dental coverage and long term disability benefits), deferred
compensation, bonuses, commissions, stock options, stock purchase, phantom stock, stock
appreciation or other forms of incentive compensation or post-retirement compensation.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Entity Classification Elections</U>&#148; shall have the meaning set forth in Section&nbsp;4.3(d).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Environmental Law</U>&#148; shall mean any federal, state or local law, statute, rule, order,
directive, judgment, Permit or regulation or the common law relating to the environment,
occupational health and safety, or exposure of persons or property to Materials of Environmental
Concern, including any statute, regulation, administrative decision or order pertaining to: (a)
the presence of or the treatment, storage, disposal, generation, transportation, handling,
distribution, manufacture, processing, use, import, export, labeling, recycling, registration,
investigation or remediation of Materials of Environmental Concern or documentation related to the
foregoing; (b)&nbsp;air, water and noise pollution; (c)&nbsp;groundwater and soil contamination; (d)&nbsp;the
release, threatened release, or accidental release into the environment, the workplace or other
areas of Materials of Environmental Concern, including emissions, discharges, injections, spills,
escapes or dumping of Materials of Environmental Concern; (e)&nbsp;transfer of interests in or control
of real property which may be contaminated; (f)&nbsp;community or worker right-to-know disclosures with
respect to Materials of Environmental Concern; (g)&nbsp;the protection of wild life, marine life and
wetlands, and endangered and threatened species; (h)&nbsp;storage tanks, vessels, containers, abandoned
or discarded barrels and other closed receptacles; and (i)&nbsp;health and safety of employees and other
persons. As used above, the term &#147;release&#148; shall have the meaning set forth in CERCLA.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>ERISA</U>&#148; shall mean the Employee Retirement Income Security Act of 1974, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>ERISA Affiliate</U>&#148; shall mean each person (as defined in Section&nbsp;3(9) of ERISA), which
together with any Seller, Business Subsidiary or Operating Subsidiary would be deemed for any
purpose under ERISA or the Code to be a &#147;single employer&#148; within the meaning of Section 414(b) or
(c)&nbsp;of the Code, or for the purpose of Section&nbsp;302 of ERISA and/or Sections&nbsp;412, 4971, 4977, 4980,
4980E and/or each &#147;applicable section&#148; under Section&nbsp;414(t)(2) of the Code, would be deemed to be a
&#147;single employer&#148; within the meaning of Section&nbsp;414(b), (c), (m)&nbsp;or (o)&nbsp;of the Code.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Exclusivity Period</U>&#148; shall mean a period of thirty (30)&nbsp;days commencing on the latest
to occur of the date (a)&nbsp;of the delivery to Buyer of the financial statements of the Business
referred to in Section&nbsp;4.8 and (b)&nbsp;all applicable waiting periods (and any extensions thereof)
under the Hart-Scott-Rodino Act and under any applicable foreign antitrust or trade regulation law
shall have expired or otherwise been terminated.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Exchange Act</U>&#148; shall mean the Securities Exchange Act of 1934, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Expected Claim Notice</U>&#148; shall mean a notice that, as a result of a legal proceeding
instituted by or written claim made by a third party, an Indemnified Party reasonably expects to
incur Damages for which it is entitled to indemnification under Article&nbsp;VII.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Financial Print Business</U>&#148; shall mean the financial print business conducted by the
Parent and its Affiliates.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Financial Statements</U>&#148; shall have the meaning set forth in Section&nbsp;2.6(a).


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Financing Commitment</U>&#148; shall mean that certain commitment letter dated June&nbsp;28, 2005
from Wachovia Bank, National Association and Wachovia Capital Markets, LLC.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>GAAP</U>&#148; shall mean United States generally accepted accounting principles.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Governmental Entity</U>&#148; shall mean any government or political subdivision or regulatory
authority, whether foreign or domestic, federal, state, provincial, territorial, local or
municipal, or any agency or instrumentality of any such government or political subdivision or
regulatory authority, or any foreign or domestic, federal, state, provincial, territorial, local or
municipal court or similar tribunal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Government Contract</U>&#148; shall mean any agreement with any Governmental Entity for the
provision of goods or services to or for the use by such Governmental Entity, or providing for the
transfer of funds or in-kind support by such Governmental Entity in furtherance of a public
purpose, or any subcontract at any tier entered into in furtherance of such an agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Hart-Scott-Rodino Act</U>&#148; shall mean the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Income Taxes</U>&#148; shall mean any Taxes imposed upon or measured by net income.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indebtedness</U>&#148; of any person shall mean indebtedness of such Person for borrowed
money. For the avoidance of doubt, Indebtedness shall include any capitalized lease obligations
but shall not include the endorsement of negotiable instruments for collection in the ordinary
course of business.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnification Cap</U>&#148; shall have the meaning set forth in Section&nbsp;7.5(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnified Party</U>&#148; shall mean a party entitled, or seeking to assert rights, to
indemnification under Article&nbsp;VII of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Indemnifying Party</U>&#148; shall mean the party from whom indemnification is sought by the
Indemnified Party.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Intellectual Property</U>&#148; shall mean all:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;patents, patent applications, patent disclosures and all related continuation,
continuation-in-part, divisional, reissue, reexamination, utility model, certificate of invention
and design patents, patent applications, registrations and applications for registrations;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;trademarks, service marks, trade dress, Internet domain names, logos, trade names and
corporate names and registrations and applications for registration thereof;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;copyrights and registrations and applications for registration thereof;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;computer software, data and documentation;



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;inventions, trade secrets and confidential business information, whether patentable or
nonpatentable and whether or not reduced to practice, know-how, manufacturing and product processes
and techniques, research and development information, copyrightable works, financial, marketing and
business data, pricing and cost information, business and marketing plans and customer and supplier
lists and information;



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;other proprietary rights relating to any of the foregoing (including remedies against
infringements thereof and rights of protection of interest therein under the laws of all
jurisdictions); and



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;copies and tangible embodiments thereof.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Interim Balance Sheet</U>&#148; shall have the meaning set forth in Section&nbsp;2.6(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Internal Systems</U>&#148; shall mean the internal systems of each Business Subsidiary and
Operating Subsidiary that are used in the Business, including computer hardware systems, software
applications and embedded systems.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Lease</U>&#148; shall mean any lease or sublease pursuant to which any Business Subsidiary or
Operating Subsidiary leases or subleases from another party any real property that is used in the
Business.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Legal Proceeding</U>&#148; shall mean any action, suit, proceeding, claim, arbitration or
investigation before any Governmental Entity or before any arbitrator, mediator or ombudsman.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Material Contract</U>&#148; shall have the meaning set forth in Section&nbsp;2.14(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Materials of Environmental Concern</U>&#148; shall mean any pollutants, contaminants or
hazardous substances (as such terms are defined under CERCLA), pesticides (as such term is defined
under the Federal Insecticide, Fungicide and Rodenticide Act), solid wastes and hazardous wastes
(as such terms are defined under the Resource Conservation and Recovery Act), chemicals, other
hazardous, radioactive or toxic materials, oil, petroleum and petroleum products (and fractions
thereof), or any other material (or article containing such material) listed or subject to
regulation under any law, statute, rule, regulation, order, Permit, or directive due to its
potential, directly or indirectly, to harm the environment or the health of humans or other living
beings.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Merger</U>&#148; shall mean the merger of the Transitory Subsidiary with and into BGS in
accordance with the terms of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Merger Consideration</U>&#148; shall mean (a)&nbsp;a number of shares of Buyer Common Stock in an
amount equal to the result obtained by dividing (i)&nbsp;the Stock Consideration by (ii)&nbsp;the number of
outstanding BGS Shares immediately prior to the Effective Time and (b)&nbsp;cash in an amount equal to
the result obtained by dividing (i)&nbsp;the Cash Consideration by (ii)&nbsp;the number of outstanding BGS
Shares immediately prior to the Effective Time.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Non-controlling Party</U>&#148; shall mean the party not controlling the defense of any Third
Party Action.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Operating Subsidiary</U>&#148; shall mean any entity 50% or more of the stock or other
ownership interests of which, by vote or by value, is owned directly or indirectly by any Business
Subsidiary.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Option</U>&#148; shall mean each option to purchase or acquire BGS Shares, whether issued by
BGS pursuant to a BGS Stock Plan or otherwise.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Ordinary Course of Business</U>&#148; shall mean the ordinary course of business consistent
with past custom and practice (including with respect to frequency and amount).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Owned Real Property</U>&#148; shall mean each item of real property owned by any Business
Subsidiary or Operating Subsidiary.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent</U>&#148; shall have the meaning set forth in the first paragraph of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent Certificate</U>&#148; shall mean a certificate of the Chief Executive Officer, Chief
Financial Officer or other Senior Vice President of Parent to the effect that (a)&nbsp;each of the
conditions specified in clauses (a)&nbsp;through (d) (insofar as clause (d)&nbsp;relates to Legal Proceedings
involving any Seller, Business Subsidiary or Operating Subsidiary) of Section&nbsp;5.2 is satisfied in
all material respects and (b)&nbsp;as of the Closing Date, the Business Subsidiaries and Operating
Subsidiaries, taken as a whole, have cash on hand of not less than $11,500,000, which certificate
shall also include the incumbency of all officers executing any agreement or document on behalf of
the Sellers pursuant to this Agreement and shall have attached a true and correct copy of the
resolutions of the boards of directors of the Sellers authorizing the transactions contemplated
hereby.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent Guarantees</U>&#148; shall have the meaning set forth in Section&nbsp;6.9.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent Nominee</U>&#148; shall have the meaning set forth in Section&nbsp;4.6.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parent SEC Reports</U><B>&#148; </B>shall mean all registration statements, forms, reports and other
documents (including those that the Buyer may file after the date hereof until the Closing) filed
by the Parent with the SEC since January&nbsp;1, 2003.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Parties</U>&#148; shall mean BGS, the Buyer, the Transitory Subsidiary and each Seller.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Permits</U>&#148; shall mean all permits, licenses, registrations, certificates, orders,
approvals, franchises, variances and similar rights issued by or obtained from any Governmental
Entity (including those issued or required under Environmental Laws and those relating to the
occupancy or use of owned or leased real property).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Permitted Security Interests</U>&#148; shall mean (a)&nbsp;Security Interests reflected on the
Balance Sheet or on Section&nbsp;10.1 of the Disclosure Schedule, (b)&nbsp;Security Interests consisting of
statutes, laws, codes, regulations, governmental rules, zoning or planning restrictions or other
regulations,


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<DIV align="left" style="font-size: 10pt">(c)&nbsp;any other easements, Permits, restrictive covenants, encroachments and other restrictions
or limitations on the use of real property or irregularities in, or exceptions to, title thereto
which would not reasonably be expected to have a Business Material Adverse Effect, (d)&nbsp;Security
Interests for current taxes, assessments or governmental charges or levies not yet due and payable
or being contested in good faith, (e)&nbsp;Security Interests of landlords, carriers, warehousemen,
mechanics, suppliers, material men or repairmen arising from the ordinary course of business and
(f)&nbsp;Security Interests that are considered immaterial, financially or otherwise.</DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Pre-Closing Taxes</U>&#148; shall mean (A)&nbsp;all Taxes for any taxable period ending on or
before the first day of any taxable period that includes the Closing Date other than any such Taxes
that arise in the Ordinary Course of Business and are not yet due and payable as of the Closing
Date and (B)&nbsp;all Taxes for any taxable period beginning before and ending on or after the Closing
Date that arise outside the Ordinary Course of Business and are attributable to the period or
portion of the period prior to the Closing Date, in each case due and payable by (x)&nbsp;the Sellers in
respect of the Business, (y)&nbsp;any Business Subsidiary, and (z)&nbsp;any Operating Subsidiary. For the
avoidance of doubt, except for an amount up to $300,000 in Taxes to be paid by the Buyer in
accordance with Section&nbsp;8.6 of this Agreement, any Taxes of the Sellers, any Business Subsidiary or
any Operating Subsidiary required to be paid by reason of the Section&nbsp;338(h)(10) Election in
respect of the acquisition of the BGS Shares contemplated by this Agreement shall be deemed to be
Pre-Closing Taxes.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Pre-Closing Tax Period</U>&#148; shall mean any Tax period ending on or before the taxable
period that includes the Closing Date.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Registration Statement</U>&#148; shall mean a registration statement, post-effective amendment
and/or prospectus supplement to be filed by the Buyer with the SEC in connection with the public
offering of securities of the Buyer in order to raise funds to pay all or part of the Cash
Consideration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Representatives</U>&#148; shall have the meaning set forth in Section&nbsp;4.7(a) of this
Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Requisite Stockholder Approval</U>&#148; shall mean the adoption of this Agreement and the
approval of the Merger by a majority of the votes represented by the outstanding BGS Shares
entitled to vote on this Agreement and the Merger.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Response</U>&#148; shall mean a written response containing the information provided for in
Section&nbsp;7.3(c).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Restricted Employee</U>&#148; shall mean any person who either (a)&nbsp;was an employee of the
Buyer or any Buyer Subsidiary on either the date of this Agreement or the Closing Date or (b)&nbsp;was a
Business Employee on either the date of this Agreement or the Closing Date and was employed by any
Business Subsidiary or any Operating Subsidiary.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Retained Marks</U>&#148; shall mean the trademarks, tradenames, logos or any contraction,
abbreviation or simulation of the Seller containing &#147;Bowne&#148;, &#147;Bowne Global Solutions&#148;, &#147;BGS&#148;


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<P align="left" style="font-size: 10pt">or any variation thereof or term confusingly similar thereto and the domain name
&#147;Bowneglobal.com&#148; or other domain name containing &#147;Bowne.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>SEC</U>&#148; shall mean the Securities and Exchange Commission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Section&nbsp;338(h)(10) Election</U>&#148; shall mean an election under &#167;338(h)(10) of the Code
(and any corresponding elections under state, local or foreign tax law).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Securities Act</U>&#148; shall mean the Securities Act of 1933, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Security Interest</U>&#148; shall mean any mortgage, pledge, security interest, encumbrance,
charge or other lien (whether arising by contract or by operation of law).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller(s)</U>&#148; shall have the meaning set forth in the first paragraph of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Seller Note</U>&#148; shall have the meaning set forth in Section&nbsp;1.3(b).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Senior Executives</U>&#148; shall have the meaning set forth in Section&nbsp;2.16(a).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Shareholder Agreement</U>&#148; shall have the meaning set forth in Section&nbsp;1.9(b)(vii).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Solvent</U>&#148; shall mean, with respect to any person, that (a)&nbsp;the property of such
person, at a present fair saleable valuation, exceeds the sum of its debts (including contingent
and unliquidated debts); (b)&nbsp;the present fair saleable value of the property of such person exceeds
the amount that will be required to pay such person&#146;s probable liability on its existing debts as
they become absolute and matured; (c)&nbsp;such person has adequate capital to carry on its business;
and (d)&nbsp;such person does not intend or believe it will incur debts beyond its ability to pay as
such debts mature. In computing the amount of contingent or unliquidated liabilities at any time,
such liabilities will be computed at the amount which, in light of all the facts and circumstances
existing at such time, represents the amount that can reasonably be expected to become actual or
matured liabilities.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Stock Consideration</U>&#148; shall mean (a)&nbsp;9,400,000 shares of Buyer Common Stock if the
Average Closing Price of the Buyer Common Stock is less than $7.24 (in each case subject to
adjustment in the event of any stock split, stock dividend, reverse stock split or similar event
affecting the Buyer Common Stock from the date of this Agreement through the Closing) and (b)&nbsp;if
the Average Closing Price of the Buyer Common Stock is $7.24 or more, such number of shares of
Buyer Common Stock as shall have a value of $68,056,000 calculated at the Average Closing Price (in
each case subject to adjustment in the event of any stock split, stock dividend, reverse stock
split or similar event affecting the Buyer Common Stock from the date of this Agreement through the
Closing). No fraction of a share of Buyer Common Stock shall be issued, and any fractional share
thereof shall be rounded down to the nearest whole number and the BGS Stockholders shall receive
cash in lieu of such fractional share.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Subsidiary</U>&#148; shall mean, with respect to any person, (a)&nbsp;any corporation more than 50%
of whose stock of any class or classes having by the terms thereof ordinary voting power to elect a
majority of the directors of such corporation (irrespective of whether or not at the time stock of


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<P align="left" style="font-size: 10pt">any class or classes of such corporation shall have or might have voting power by reason of
the happening of any contingency) is owned by such person directly or indirectly through one or
more Subsidiaries of such person and (b)&nbsp;any partnership, association, joint venture or other
entity in which such person directly or indirectly through one or more Subsidiaries of such person
has more than a 50% equity interest.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Superior Proposal</U>&#148; shall mean any bona fide written Acquisition Proposal (a)&nbsp;on terms
which the Parent&#146;s Board of Directors determines in its good faith judgment to be more favorable to
the Parent than the transactions contemplated by this Agreement (after taking into consideration
the advice with respect thereto of a nationally recognized independent financial advisor), taking
into account all the terms and conditions of such proposal and this Agreement (including any
proposal by either party to amend the terms of this Agreement) and (b)&nbsp;that is reasonably capable
of being completed on the terms proposed, taking into account all financial, regulatory, legal and
other aspects of such proposal.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Surviving Corporation</U>&#148; shall mean BGS, as the surviving corporation in the Merger.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>S-X Financial Statements</U>&#148; shall mean financial statements for the Business which have
been prepared in accordance with Regulation&nbsp;S-X of the SEC and satisfy the Buyer&#146;s obligation to
include financial statements of the Business in any Registration Statement or other filing to be
made by the Buyer under United States securities laws, including without limitation audited
consolidated balance sheets and statements of income, changes in shareholders&#146; equity and cash
flows of the Business as of and for the fiscal years ended December&nbsp;31, 2002, December&nbsp;31, 2003 and
December&nbsp;31, 2004 and for the six months ended June&nbsp;30, 2005, as certified without qualification by
the Parent&#146;s auditor.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tax Audit</U>&#148; shall mean any audit or examination by any Taxing Authority.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Tax Returns</U>&#148; shall mean any and all reports, returns, computations, declarations, or
statements relating to Taxes, including any schedule or attachment thereto and any related or
supporting workpapers or information with respect to any of the foregoing, including any amendment
thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Taxes</U>&#148; shall mean any and all taxes, charges, fees, duties, contributions, levies or
other similar assessments or liabilities in the nature of a tax, including, without limitation,
income, gross receipts, ad valorem, premium, value-added, net worth, capital stock, capital gains,
documentary, recapture, alternative or add-on minimum, disability, estimated, registration,
recording, excise, real property, personal property, sales, use, license, lease, service, service
use, transfer, withholding, employment, unemployment, insurance, national insurance, social
security, business license, business organization, environmental, workers compensation, payroll,
profits, severance, stamp, occupation, windfall profits, customs, duties, franchise and other taxes
of any kind whatsoever imposed by the United States of America or any state, local or foreign
government, or any agency or political subdivision thereof, and any interest, fines, penalties,
assessments or additions to tax imposed with respect to such items or any contest or dispute
thereof.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Taxing Authority</U>&#148; shall mean a Governmental Entity responsible for the imposition or
collection of Taxes.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Third Party Action</U>&#148; shall mean any suit or proceeding by a person or entity other
than a Party for which indemnification may be sought by a Party under Article&nbsp;VII. Without
limitation of the foregoing, a Third Party Action shall include any claim or proceeding, whether or
not a suit is commenced, by any Governmental Entity.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Trading Period</U>&#148; shall mean the thirty (30)&nbsp;trading day period ending on the trading
day immediately preceding the day of the Closing.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Transfer Taxes</U>&#148; has the meaning set forth in Section&nbsp;8.1(d).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<U>Transitory Subsidiary</U>&#148; shall have the meaning set forth in the first paragraph of
this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2 <U>Knowledge</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Where any representation or warranty contained in this Agreement is expressly qualified by
reference to the knowledge of the Sellers, such knowledge shall mean the actual knowledge of the
individuals listed in <U>Schedule&nbsp;10.2(a)</U>, without inquiry.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Where any representation or warranty contained in this Agreement is expressly qualified by
reference to the knowledge of the Buyer, such knowledge shall mean the actual knowledge of the
individuals listed in <U>Schedule&nbsp;10.2(b)</U>, without inquiry.



<P align="center" style="font-size: 10pt"><B>ARTICLE XI</B>



<P align="center" style="font-size: 10pt"><B>MISCELLANEOUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.1 <U>Press Releases and Announcements</U>. No Party shall issue (and each Party shall
cause its Affiliates not to issue) any press release or public announcement relating to the subject
matter of this Agreement without the prior written approval of the other Party or Parties;
<U>provided</U>, <U>however</U>, that any Party may make any public disclosure it believes in
good faith is required by applicable law, regulation or stock market rule (in which case the
disclosing Party shall use reasonable efforts to advise the other Party or Parties and provide such
other Party or Parties with a copy of the proposed disclosure prior to making the disclosure).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.2 <U>No Third Party Beneficiaries</U>. Other than as set forth in Section&nbsp;6.8, this
Agreement shall not confer any rights or remedies upon any person other than the Parties and their
respective successors and permitted assigns.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.3 <U>Entire Agreement</U>. This Agreement (including the documents referred to herein)
constitutes the entire agreement among the Parties and supersedes any prior understandings,


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<P align="left" style="font-size: 10pt">agreements, or representations by or among the Parties, written or oral, with respect to the
subject matter hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.4 <U>Succession and Assignment</U>. This Agreement shall be binding upon and inure to the
benefit of the Parties named herein and their respective successors and permitted assigns. No Party
may assign either this Agreement or any of its rights, interests, or obligations hereunder without
the prior written approval of the other Parties; provided, that the Buyer may assign some or all of
its rights, interests and/or obligations hereunder to one or more wholly-owned Subsidiaries of the
Buyer; <U>provided</U>, <U>further</U>, that the Buyer shall remain liable under this Agreement
if it makes such an assignment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.5 <U>Counterparts and Facsimile Signature</U>. This Agreement may be executed in two or
more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument. This Agreement may be executed by facsimile signature.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.6 <U>Headings</U>. The section headings contained in this Agreement are inserted for
convenience only and shall not affect in any way the meaning or interpretation of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.7 <U>Notices</U>. All notices, requests, demands, claims, and other communications
hereunder shall be in writing. Any notice, request, demand, claim, or other communication
hereunder shall be deemed duly delivered four (4)&nbsp;Business Days after it is sent by registered or
certified mail, return receipt requested, postage prepaid, or one (1)&nbsp;Business Day after it is sent
for next Business Day delivery via a reputable nationwide overnight courier service, in each case
to the intended recipient as set forth below:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Copy (which shall not</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">If to any Seller:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">constitute notice) to:</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bowne &#038; Co., Inc.<BR>
345 Hudson Street<BR>
New York, NY 10014<BR>
Attention: General Counsel<BR>
Telecopy: (212)&nbsp;931-1899
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">White &#038; Case LLP<BR>
1155 Avenue of the Americas<BR>
New York, New York 10036<BR>
Attention: Mark L. Mandel, Esq.<BR>
Telecopy: (212)&nbsp;354-8113</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Copy (which shall not</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">If to the Buyer:</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">constitute notice) to:</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lionbridge Technologies, Inc.<BR>
1050 Winter Street<BR>
Suite&nbsp;2300<BR>
Waltham, MA 02451<BR>
Attention: General Counsel<BR>
Telecopy: (781)&nbsp;434-6057
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Wilmer Cutler Pickering Hale
and Dorr LLP<BR>
60 State Street<BR>
Boston, Massachusetts 02109<BR>
Attention: Mark G. Borden,<BR>
Esq. and Jeffrey A. Hermanson, Esq.<BR>
Telecopy: (617)&nbsp;526-5000</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any Party may give any notice, request, demand, claim, or other communication hereunder using
any other means (including personal delivery, expedited courier, messenger service, telecopy,
telex, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other
communication shall be deemed to have been duly given unless and until it actually is received by
the party for whom it is intended. Any Party may change the address to which notices, requests,
demands, claims, and other communications hereunder are to be delivered by giving the other Party
or Parties notice in the manner herein set forth.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.8 <U>Governing Law</U>. This Agreement (including the validity and applicability of the
arbitration provisions of this Agreement, the conduct of any arbitration of a Dispute, the
enforcement of any arbitral award made hereunder and any other questions of arbitration law or
procedure arising hereunder) shall be governed by and construed in accordance with the internal
laws of the State of Delaware, without giving effect to any choice or conflict of law provision or
rule (whether of the State of Delaware or any other jurisdiction) that would cause the application
of laws of any jurisdictions other than those of the State of Delaware.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.9 <U>Amendments and Waivers</U>. The Parties may mutually amend any provision of this
Agreement at any time prior to the Closing. No amendment of any provision of this Agreement shall
be valid unless the same shall be in writing and signed by each of the Parties. No waiver by any
Party of any right or remedy hereunder shall be valid unless the same shall be in writing and
signed by the Party giving such waiver. No waiver by any Party with respect to any default,
misrepresentation, or breach of warranty or covenant hereunder shall be deemed to extend to any
prior or subsequent default, misrepresentation, or breach of warranty or covenant hereunder or
affect in any way any rights arising by virtue of any prior or subsequent such occurrence.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.10 <U>Severability</U>. Any term or provision of this Agreement that is invalid or
unenforceable in any situation in any jurisdiction shall not affect the validity or enforceability
of the remaining terms and provisions hereof or the validity or enforceability of the offending
term or provision in any other situation or in any other jurisdiction. If the final judgment of a
court of competent jurisdiction declares that any term or provision hereof is invalid or
unenforceable, the Parties agree that the court making the determination of invalidity or
unenforceability shall have the power to limit the term or provision, to delete specific words or
phrases, or to replace any invalid or unenforceable term or provision with a term or provision that
is valid and enforceable and that comes closest to expressing the intention of the invalid or
unenforceable term or provision, and this Agreement shall be enforceable as so modified.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.11 <U>Expenses</U>. Except as set forth in Article&nbsp;VII, each Party shall bear its own
costs and expenses (including legal fees and expenses) incurred in connection with this Agreement
and the transactions contemplated hereby. The Parent agrees that none of the costs and expenses


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">(including legal fees and expenses) incurred by it in connection with this Agreement or the
transactions contemplated hereby will be borne by any Business Subsidiary or Operating Subsidiary.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.12 <U>Specific Performance</U>. Each Party acknowledges and agrees that the other Party
or Parties would be damaged irreparably in the event any of the provisions of this Agreement
(including Sections&nbsp;6.1, 6.2, 6.3, 6.8 and 6.9) are not performed in accordance with their specific
terms or otherwise are breached. Accordingly, each Party agrees that the other Party or Parties
shall be entitled to an injunction or other equitable relief to prevent breaches of the provisions
of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in
any action instituted in any court of the United States or any state thereof having jurisdiction
over the Parties and the matter, in addition to any other remedy to which it may be entitled, at
law or in equity. Notwithstanding the foregoing, the Parties agree that if a Dispute is submitted
to arbitration in accordance with Section&nbsp;7.3(d) and Section&nbsp;7.3(e), then the foregoing provisions
of this Section&nbsp;11.12 shall not apply to such Dispute, and the provisions of Section&nbsp;7.3(d) and
Section&nbsp;7.3(e) shall govern availability of injunctive relief, specific performance or other
equitable relief with respect to such Dispute.


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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13 <U>Jurisdiction; Agents for Service of Process</U>. Any judicial proceeding brought
against any of the parties to this Agreement on any dispute arising out of this Agreement or any
matter related hereto may be brought exclusively in the courts of the State of New York located in
New York City or in the United States District Court for the Southern District of New York, and, by
execution and delivery of this Agreement, each of the parties to this Agreement accepts the
exclusive jurisdiction of such courts, and irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Agreement The foregoing consent to jurisdiction shall not
constitute general consent to service of process in the State of New York for any purpose except as
provided above and shall not be deemed to confer rights on any Person other than the respective
parties to this Agreement. Each of the Sellers and the Buyer agree that service of any process,
summons, notice or document by United States registered mail to such party&#146;s address set forth
above shall be effective service of process for any action, suit or proceeding in New York with
respect to any matters for which it has submitted to jurisdiction pursuant to this Section&nbsp;11.13.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14 <U>Waiver of Jury Trial</U>. Each of the Buyer and the Sellers hereby waives, to the
fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of
any litigation as between the parties directly or indirectly arising out of, under or in connection
with this Agreement or the transactions contemplated hereby or disputes relating hereto. Each of
the Buyer and the Sellers (i)&nbsp;certifies that no representative, agent or attorney of the other
party has represented, expressly or otherwise that such other party would not, in the event of
litigation, seek to enforce the foregoing waiver and (ii)&nbsp;acknowledges that it and the other party
have been induced to enter into this Agreement by, among other things, the mutual waivers and
certifications in this Section&nbsp;11.14.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.15 <U>Construction</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The language used in this Agreement shall be deemed to be the language chosen by the
Parties to express their mutual intent, and no rule of strict construction shall be applied against
any Party.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Any reference to any federal, state, local, or foreign statute or law shall be deemed also
to refer to all rules and regulations promulgated thereunder, unless the context requires
otherwise.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Any reference herein to &#147;including&#148; shall be interpreted as &#147;including without
limitation&#148;.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Any reference to any Article, Section or paragraph shall be deemed to refer to an Article,
Section or paragraph of this Agreement, unless the context clearly indicates otherwise.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;All references to &#147;$&#148;, &#147;Dollars&#148; or &#147;US$&#148; refer to currency of the United States of
America.



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<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above
written.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">LIONBRIDGE TECHNOLOGIES, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:/s/ Rory J. Cowan</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chief Executive Officer and President</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GGS ACQUISITION CORP.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:/s/ Rory J. Cowan</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: President</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BGS COMPANIES, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: /s/ Scott L. Spitzer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Vice President</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BOWNE &#038; CO., INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: Philip Kucera</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chairman and Chief Executive Officer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">BOWNE OF NEW YORK CITY, LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By: /s/ Scott L. Spitzer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Vice President</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">The undersigned, being the duly elected Secretary of the Transitory Subsidiary, hereby certifies
that this Agreement has been adopted by the holders of shares representing a majority of the votes
represented by the outstanding shares of capital stock of the Transitory Subsidiary entitled to
vote on this Agreement.



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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Margaret A. Shukur</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">The undersigned, being the duly elected Secretary of BGS, hereby certifies that this Agreement has
been adopted by the holders of shares representing a majority of the votes represented by the
outstanding BGS Shares entitled to vote on this Agreement.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Scott L. Spitzer</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Secretary or Assistant Secretary</TD>
</TR>
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</TABLE>
</DIV>



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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.2
<SEQUENCE>3
<FILENAME>y10408exv2w2.htm
<DESCRIPTION>EX-2.2: SHAREHOLDER AGREEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-2.2:</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt">Exhibit&nbsp;2.2



<P align="center" style="font-size: 10pt"><B>SHAREHOLDER AGREEMENT</B>



<P align="center" style="font-size: 10pt">dated as of



<P align="center" style="font-size: 10pt">__________, 2005



<P align="center" style="font-size: 10pt">among



<P align="center" style="font-size: 10pt"><B>BOWNE &#038; CO., INC.,</B>



<P align="center" style="font-size: 10pt"><B>BOWNE OF NEW YORK, LLC</B>



<P align="center" style="font-size: 10pt">and



<P align="center" style="font-size: 10pt"><B>LIONBRIDGE TECHNOLOGIES, INC.</B>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="3" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="90%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Definitions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 1.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Definitions</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">1</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Board of Directors</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 2.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Composition of the Board</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">3</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 2.02.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Replacement of the Buyer Designee</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">3</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 3 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Registration Rights</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Demand Registration</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">4</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.02.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Piggyback Registration</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">5</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.03.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Reduction of Offering</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">5</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.04.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Filings; Information</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">5</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.05.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Registration Expenses</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">8</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.06.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Indemnification by the Buyer</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">8</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.07.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Indemnification by the Parent</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">9</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.08.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Conduct of Indemnification Proceedings</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">10</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.09.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Contribution</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">10</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 3.10.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Termination</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">11</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain Covenants And Agreements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 4.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Rule&nbsp;144</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">11</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 5 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right Of First Offer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 5.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Restrictions on Transfer</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">11</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 5.02.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Offer of Sale; Notice of Proposed Sale</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">12</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 5.03.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Buyer&#146;s Option to Purchase</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">12</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 5.04.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Restriction on Transfer to Competitors of the Buyer</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">13</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Standstill</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 6.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Purchases of Shares of Buyer Common Stock</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">13</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ARTICLE 7 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.01.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Binding Effect; Assignability; Benefit</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">13</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.02.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Notices</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">14</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.03.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Waiver; Amendment</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">14</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="3" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="90%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.04.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Fees and Expenses</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">14</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.05.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Governing Law</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.06.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Waiver of Jury Trial</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.07.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Specific Enforcement</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.08.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Counterparts; Effectiveness</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.09.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Entire Agreement</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.10.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Captions</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.11.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Severability</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.12.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Jurisdiction; Agents for Service of Process</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">15</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px"><FONT style="font-variant: SMALL-CAPS">SECTION 7.13.</FONT> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant: SMALL-CAPS">Construction</FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><FONT style="font-variant: SMALL-CAPS">16</FONT></TD>
    <TD>&nbsp;</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt"><B>SHAREHOLDER AGREEMENT</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGREEMENT dated as of &#95;&#95;&#95;, 2005 by and among Bowne &#038; Co., Inc., a Delaware corporation
(the &#147;<B>Parent</B>&#148;), Bowne of New York LLC, a Delaware limited liability company (&#147;<B>Bowne New York</B>&#148;) and
Lionbridge Technologies, Inc., a Delaware corporation (the &#147;<B>Buyer</B>&#148;).


<P align="center" style="font-size: 10pt"><B>W I T N E S S E T H:</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Parent and the Buyer have entered into an Agreement and Plan of Merger (the
&#147;<B>Purchase Agreement</B>&#148;) dated as of June &#95;&#95;&#95;, 2005, pursuant to which, among other things, the Buyer
shall purchase the Stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, effective from the Closing Date, the Parent&#146;s initial designee, &#95;&#95;&#95;, has been
appointed to serve as Director on the Board of the Buyer; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, pursuant to provisions of the Purchase Agreement, the Buyer and the Parent have
agreed to execute and deliver this Agreement on the Closing Date;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the covenants and agreements contained herein and in the
Purchase Agreement, the parties hereto agree as follows:


<P align="center" style="font-size: 10pt">ARTICLE 1



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Definitions</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 1.01. <I>Definitions. </I>(a)&nbsp;The following terms, as used herein, have the following
meanings:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Adjustment Event</B>&#148; means any stock dividend, stock split, reverse split, recapitalization,
reclassification or other like change with respect to the Buyer Common Stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Affiliate</B>&#148; means any affiliate, as defined in Rule&nbsp;12b-2 under the Exchange Act.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Average Closing Price</B>&#148; shall have the meaning set forth in the Purchase Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Board</B>&#148; means the board of directors of the Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Business Day</B>&#148; means any day other than (a)&nbsp;a Saturday, Sunday or (b)&nbsp;a day on which banking
institutions in Boston, Massachusetts or New York, New York are permitted or required by law,
executive order or governmental decree to remain closed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Buyer Common Stock</B>&#148; means the shares of common stock, $0.01 par value per share, of the
Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Closing Date</B>&#148; shall have the meaning set forth in the Purchase Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Director</B>&#148; means a director of the Buyer.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Exchange Act</B>&#148; means the Securities Exchange Act of 1934, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>NASD</B>&#148; means the National Association of Securities Dealers, Inc.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>NASDAQ</B>&#148; means the National Association of Securities Dealers Automated Quotation System.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Person</B>&#148; means an individual, corporation, limited liability company, partnership,
association, trust or other entity or organization, including a government or political subdivision
or an agency or instrumentality thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Public Offering</B>&#148; means an underwritten public offering of Buyer Common Stock pursuant to an
effective registration statement under the Securities Act, other than pursuant to a registration
statement on Form S-4 or Form S-8 or any similar or successor form.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Reasonable Best Efforts</B>&#148; means best efforts, to the extent commercially reasonable.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Registrable Securities</B>&#148; means, at any time, the Shares held by the Sellers, including any
Shares of Buyer Common Stock and any securities of the Buyer issued or issuable in respect of such
Shares as the result of an Adjustment Event.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>SEC</B>&#148; means the Securities and Exchange Commission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Securities Act</B>&#148; means the Securities Act of 1933, as amended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Seller Note</B>&#148; shall have the meaning set forth in the Purchase Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Sellers</B>&#148; means the Parent and Bowne New York.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Shares</B>&#148; means shares of Buyer Common Stock received by the Sellers as Stock Consideration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Shelf Registration</B>&#148; means a Demand Registration for an offering to be made on a continuous
basis pursuant to Rule&nbsp;415 of the Securities Act registering the resale of Registrable Securities
held by Sellers.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Stock</B>&#148; means the shares of common stock, $.01 par value per share, of BGS Companies Inc., a
Delaware corporation.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Stock Consideration</B>&#148; shall have the meaning set forth in the Purchase Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Subsidiary</B>&#148; means with respect to any person, (a)&nbsp;any corporation more than 50% of whose
stock of any class or classes having by the terms thereof ordinary voting power to elect a majority
of the directors of such corporation (irrespective of whether or not at the time stock of any class
or classes of such corporation shall have or might have voting power by reason of the happening of
any contingency) is owned by such person directly or indirectly through one or more Subsidiaries of
such person and (b)&nbsp;any partnership, association, joint venture or other


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">entity in which such person directly or indirectly through one or more Subsidiaries of such
person has more than a 50% equity interest.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#147;<B>Underwritten Registration</B>&#148; means a Demand Registration for an underwritten public offering of
Registrable Securities.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Each of the following terms is defined in the Section set forth opposite such term:

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="85%"></TD>
    <TD width="5%"></TD>
    <TD width="10%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><U>Term</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><U>Section</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Bowne New York
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Recitals</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Buyer
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Preamble</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Damages
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.06</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Demand Registration
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.01(a)</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Indemnified Party
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.08</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Indemnifying Party
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.08</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Offered Shares
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>5.02</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Offeror
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>5.02</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Option Period
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>5.03</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Parent
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Preamble</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Piggyback Registration
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.02</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Purchase Agreement
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Recitals</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Registration Statement
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>3.01(a)</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Sale Notice
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>5.02</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Transfer
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><U>5.01</U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">ARTICLE 2



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Board of Directors</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.01. <I>Composition of the Board. </I>(a)&nbsp;At all times from and after the Closing Date, at
the termination of the term of &#95;&#95;&#95;, who was appointed as a Director effective from the
Closing Date, or at the termination of the term of any subsequent designee of the Parent appointed
in the manner set forth below, or upon the death, disability, incapacity, retirement, resignation,
disqualification, removal or otherwise of &#95;&#95;&#95;or any such subsequent designee of the
Parent, the Parent will have the right to designate one representative to serve as a Director who
is reasonably acceptable to the Buyer; <I>provided </I>the Parent will no longer have such right from and
after the first time that the number of shares beneficially owned by Sellers is less than 50% of
the number of Shares constituting the Stock Consideration (as adjusted for any Adjustment Event).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;At such time as Parent no longer has the right to designate a Director pursuant to Section
<U>2.01(a)</U>, the Parent shall promptly direct the Director then designated by the Parent to
resign from the Board.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 2.02. <I>Replacement of the Buyer Designee. </I>(a)&nbsp;If prior to the expiration of the term
of &#95;&#95;&#95;or any subsequent designee of the Parent, &#95;&#95;&#95;or


<P align="center" style="font-size: 10pt">3
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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">such subsequent designee of the Parent is no longer a Director as a result of death,
disability, incapacity, retirement, resignation, disqualification, removal or otherwise, then
subject to the limitations set forth in <U>Section&nbsp;2.01(a)</U>, to the extent permissible under
applicable law, Buyer agrees that it shall appoint a person designated by the Parent in accordance
with Section <U>2.01(a)</U> as Director in the same class of the Board as his or her predecessor
(or if it is not permissible under applicable law to appoint a Director to such class, then to
another class, or if more than one class is permissible, to the class of the Board with the longest
term outstanding), <I>provided </I>that if such appointment is not permissible under applicable law (i)
the Board shall recommend such designee for election to the Board and such recommendation shall be
included in any proxy statement, and (ii)&nbsp;the Buyer shall use Reasonable Best Efforts to solicit
from the stockholders of the Buyer eligible to vote for the election of Directors at the next
annual meeting of the Buyer&#146;s stockholders proxies in favor of such designee.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Upon the expiration of the term of &#95;&#95;&#95;or any subsequent designee of the
Parent (i)&nbsp;the Buyer shall nominate the person designated by the Parent in accordance with Section
<U>2.01(a)</U> for election to the Board, (ii)&nbsp;the Board shall recommend such designee for
election to the Board and such recommendation shall be included in any proxy statement, and (iii)
the Buyer shall use Reasonable Best Efforts to solicit from the stockholders of the Buyer eligible
to vote for the election of Directors proxies in favor of the representative designated by the
Parent.


<P align="center" style="font-size: 10pt">ARTICLE 3



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Registration Rights</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.01. <I>Demand Registration. </I>(a)&nbsp;The Buyer agrees that, upon the request of the Parent,
it will file a registration statement (a &#147;<B>Registration Statement</B>&#148;) under the Securities Act as to
the number of shares of Registrable Securities specified in such request (a &#147;<B>Demand Registration</B>&#148;);
<I>provided </I>that (i)&nbsp;the Company shall not be required to file a Registration Statement prior to such
time as all financial statements required under the Securities Act to be included therein are
available and all required accountants&#146; consents have been obtained; (ii)&nbsp;the Company shall not be
required to file a Registration Statement with respect to more than 80% of the Shares prior to the
first anniversary of the Closing Date; (iii)&nbsp;the Buyer shall not be required to file more than
three Registration Statements; (iv)&nbsp;the Parent shall not make more than one request for a Demand
Registration in any twelve month period, (v)&nbsp;the Company shall not be required to file a
Registration Statement with respect to less than the lesser of (A)&nbsp;20% of the Shares and (B)&nbsp;Shares
having a value based on the average closing price of Buyer Common Stock for the thirty (30)&nbsp;day
period prior to the date of such request for a Demand Registration of not less than $20,000,000,
(vi)&nbsp;any sales of Registrable Securities, other than pursuant to an Underwritten Registration,
shall be subject to the limitation set forth in Section <U>4.01(b)</U>, (vii)&nbsp;the Buyer shall not
be required to effect a Demand Registration if within 10&nbsp;days after receipt of a request therefor,
the Buyer provides written notice of its bona fide intention to file within 60&nbsp;days a registration
statement for an underwritten public offering of securities for its own account, and (viii)&nbsp;the
Buyer shall not be required to effect a Demand Registration during the period from the date of
filing of, and ending 90&nbsp;days after the effective date of, any registration statement for an
underwritten public offering of securities for the account of the Buyer. Buyer&#146;s right to block or
defer a Demand Registration pursuant to this Article <U>3</U> may be exercised only once in any
12-


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<P align="left" style="font-size: 10pt">month period. During any period that a Demand Registration is blocked or deferred pursuant to
this Section&nbsp;3.01, Buyer shall not file a Registration Statement under the Securities Act covering
the resale of securities of the Buyer for the account of any other stockholder of Buyer.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;In the case of an Underwritten Registration, the Parent shall select the lead underwriter,
any additional underwriters, and any additional investment bankers and managers to be used in
connection with the offering, subject to the Buyer&#146;s reasonable approval.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Without the consent of the Parent, no securities other than Registrable Securities shall
be included in a Demand Registration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.02. <I>Piggyback Registration. </I>If the Buyer proposes to register a Public Offering for
its own account at any time, the Buyer shall each such time give notice to the Parent at least 15
Business Days prior to the anticipated filing date of the registration statement relating to such
registration, which notice shall set forth the Parent&#146;s rights under this Section <U>3.02</U> and
shall offer the Parent and its Subsidiaries the opportunity to register such number of shares of
Registrable Securities as the Parent may request on the same terms and conditions as the Buyer (a
&#147;<B>Piggyback Registration</B>&#148;); <I>provided</I>, that the Parent shall not request the registration of a
greater number of shares of Buyer Common Stock than that for which it could then demand a
registration under Section <U>3.01(a)(ii)</U>. No registration effected under this Section
<U>3.02</U> shall relieve the Buyer of its obligations to effect a Demand Registration to the
extent required by Section <U>3.01</U>, <I>provided</I>, however, that any Shares sold pursuant to this
Section <U>3.02</U> shall be applied against the limitation set forth in Section
<U>3.01(a)(ii)</U>. Buyer may withdraw any Piggyback Registration at any time without liability
to Parent.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.03. <I>Reduction of Offering. </I>Notwithstanding anything contained herein, if the
managing underwriter of a Public Offering made pursuant to Section <U>3.02</U> advises the Buyer
in writing that, in such underwriter&#146;s opinion, the inclusion of Registrable Securities would
adversely affect the offering, then the amount of Registrable Securities to be offered for the
account of the Sellers shall be reduced to the extent necessary to reduce the total amount of
securities to be included in such offering to the amount recommended by such managing underwriter;
<I>provided </I>that if securities are being offered for the account of Persons other than the Buyer, then
the proportion by which the amount of such Registrable Securities intended to be offered for the
account of the Sellers is reduced shall not exceed the proportion by which the amount of such
securities intended to be offered for the account of such other Persons is reduced.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.04. <I>Filings; Information. </I>Whenever the Parent requests that any Registrable
Securities be registered pursuant to Section <U>3.01</U> hereof, the Parent shall indicate whether
the request is for a Shelf Registration or an Underwritten Registration. Buyer will thereupon use
Reasonable Best Efforts to effect the requested registration of such Registrable Securities as soon
as is practicable, and in connection with any such request:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The Buyer will use its Reasonable Best Efforts to prepare and file with the SEC as soon as
practicable a Registration Statement on any form for which the Buyer then qualifies and which
counsel for the Buyer shall deem appropriate and available for the sale of the Registrable
Securities to be registered thereunder in accordance with the intended method of distribution
thereof, and use Reasonable Best Efforts to cause such filed Registration Statement to become


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<P align="left" style="font-size: 10pt">and remain effective for up to 90&nbsp;days in the case of an Underwritten Registration and 12
months in the case of a Shelf Registration; <U>provided</U>, that, at least five (5)&nbsp;Business Days
prior to filing any registration statement or prospectus or any amendments or supplements thereto,
the Buyer will furnish to the Parent and its counsel copies of all such documents proposed to be
filed and any such holder shall have the opportunity to comment on any information pertaining to
the Parent and its plan of distribution that is contained therein and the Buyer shall make the
corrections reasonably requested by the Parent with respect to such information prior to filing any
such registration statement or amendment; and <I>provided further </I>that, the Buyer&#146;s obligations to use
Reasonable Best Efforts to file or maintain the effectiveness of the Registration Statement shall
be suspended for up to 90&nbsp;days if the Buyer shall furnish to the Parent a certificate signed by the
Buyer&#146;s Chief Executive Officer stating that in his reasonable good faith judgment the fulfillment
of the foregoing obligations would (i)&nbsp;require the Buyer to make a disclosure that would be
detrimental to the Buyer, or (ii)&nbsp;occur at a time when the price or exchange ratio at which the
Buyer is obligated to issue securities (other than Buyer employee or officer and director stock
options or restricted stock grants) is being determined, except that the foregoing obligations of
the Buyer shall be reinstated upon the making of such disclosure by the Buyer or expiration or
termination of the circumstances referred to in clause (ii)&nbsp;above (or, if earlier, when such
disclosure would no longer be necessary for the fulfillment of the foregoing obligations or no
longer be detrimental). Notwithstanding the foregoing, Buyer may suspend a Demand Registration
under this Section <U>3.04</U> for not more than a cumulative period of 105&nbsp;days in any 12-month
period. If, during the period a Demand Registration is permitted to be suspended under this
Section&nbsp;3.04(a), Buyer does not also suspend the filing or effectiveness, as applicable, of any
other Registration Statement covering the resale of securities of the Buyer for the account of any
other stockholder of the Buyer, then Buyer shall not suspend the Demand Registration unless, and to
the extent that, any such other Registration Statement is suspended.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Notwithstanding anything to the contrary in this Agreement, at the request of the Buyer,
the Sellers shall not, directly or indirectly, make sales of any Registrable Securities during the
period commencing upon the filing of any Registration Statement by the Buyer to register a Public
Offering for its own account and ending 30&nbsp;days following the closing of such Public Offering (such
period not to exceed 150&nbsp;days), <U>provided</U>, that the Parent is given the opportunity (whether
or not accepted by the Parent) to include at least 2,500,000 Shares (as adjusted for any Adjustment
Event) in such Public Offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The Buyer will, if requested, prior to filing such Registration Statement or any amendment
or supplement thereto, furnish to the Parent and each applicable managing underwriter, if any,
copies thereof, and thereafter furnish to the Parent and each such underwriter, if any, such number
of copies of such Registration Statement, amendment and supplement thereto (in each case including
all exhibits thereto and documents incorporated by reference therein) and the prospectus included
in such Registration Statement (including each preliminary prospectus) as the Parent or each such
underwriter may reasonably request in order to facilitate the sale of the Registrable Securities.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;After the filing of the Registration Statement, the Buyer will promptly notify the Parent
of any stop order issued or, to the Buyer&#146;s knowledge, threatened to be issued by the SEC and shall
use Reasonable Best Efforts to prevent the entry of such stop order or to remove it if entered.


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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;The Buyer will use Reasonable Best Efforts to qualify the Registrable Securities for offer
and sale under such other securities or blue sky laws of such jurisdiction in the United States as
the Parent reasonably requests; <I>provided </I>that the Buyer will not be required to (i)&nbsp;qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify
but for this Section <U>3.04(e)</U>, (ii)&nbsp;subject itself to taxation in any such jurisdiction or
(iii)&nbsp;consent to general service of process in any such jurisdiction.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;The Buyer will as promptly as is practicable notify the Parent, at any time when a
prospectus relating to the sale of the Registrable Securities is required by law to be delivered in
connection with sales by an underwriter or dealer, of the occurrence of any event requiring the
preparation of a supplement or amendment to such prospectus so that, as thereafter delivered to the
purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of
a material fact or omit to state any material fact required to be stated therein or necessary to
make the statements therein, in the light of the circumstances under which they were made, not
misleading and promptly make available to the Parent and to the underwriters any such supplement
amendment. The Parent agrees that, upon receipt of any notice from the Buyer of the occurrence of
any event of the kind described in the preceding sentence, the Parent will forthwith discontinue
the offer and sale of Registrable Securities pursuant to the Registration Statement covering such
Registrable Securities until receipt by the Parent and the underwriters of the copies of such
supplemented or amended prospectus and, if so directed by the Buyer, the Parent will deliver to the
Buyer all copies, other than permanent file copies then in the Parent&#146;s possession, of the most
recent prospectus covering such Registrable Securities at the time of receipt of such notice. In
the event the Buyer shall give such notice, the Buyer shall extend the period during which such
Registration Statement shall be maintained effective as provided in Section <U>3.04(a)</U> hereof
by the number of days during the period from and including the date of the giving of such notice to
the date when the Buyer shall make available to the Parent such supplemented or amended prospectus.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;In the case of an Underwritten Registration, the Buyer will enter into customary
agreements (including an underwriting agreement in customary form) and take such other actions as
are reasonably requested by Parent in order to expedite or facilitate the sale of such Registrable
Securities, including but not limited to attendance by the Buyer&#146;s Chief Executive Officer and any
other Buyer officers as may be reasonably requested by the Parent, at any investor presentation or
any &#147;road shows&#148; undertaken in connection with the marketing or selling of the Registrable
Securities <I>provided </I>that the Buyer&#146;s Chief Executive Officer and such Buyer officers (if any) shall
not be required to participate in any such presentations or &#147;road show&#148; for more than five Business
Days in connection with each Underwritten Registration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;In the case of an Underwritten Registration, the Buyer will use its Reasonable Best
Efforts to furnish to each underwriter (i)&nbsp;an opinion or opinions of counsel to the Buyer and (ii)
a comfort letter or comfort letters from the Buyer&#146;s independent public accountants, each in
customary form and covering such matters of the type customarily covered by opinions or comfort
letters, as the case may be, as the managing underwriter reasonably requests.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;As a condition to Buyer&#146;s obligation to register Registrable Securities under this
Agreement, Parent shall, promptly upon request, furnish in writing to the Buyer such information
regarding the Sellers, the plan of distribution of the Registrable Securities and such other


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<P align="left" style="font-size: 10pt">information as the Buyer may from time to time reasonably request in writing or as may be
legally required in connection with such registration. In addition, each Seller shall complete and
execute all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents reasonably required under the terms of any underwriting arrangements and the provisions
of this Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;In connection with the preparation and filing of each registration statement registering
Registrable Securities under the Securities Act, the Buyer shall give, upon reasonable notice and
during normal business hours, the Parent, its underwriters, if any, and their respective counsel
and accountants access to its books and records and an opportunity to discuss the business of the
Buyer with its officers and the independent public accountants who have certified its financial
statements as shall be necessary, in the opinion of Parent&#146;s or such underwriters&#146; counsel to
conduct a reasonable investigation within the meaning of Section <U>11(b)(3)</U> of the Securities
Act.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.05. <I>Registration Expenses. </I>In connection with any Demand Registration and in
connection with any Piggyback Registration, the Buyer shall pay the following expenses incurred in
connection with such registration: (i)&nbsp;registration and filing fees with the SEC, (ii)&nbsp;fees and
expenses of compliance with securities or blue sky laws (including reasonable fees and
disbursements of counsel in connection with blue sky qualifications of the Registrable Securities),
(iii)&nbsp;expenses in connection with the preparation, printing, mailing and delivery of any
registration statements, prospectuses and other documents in connection therewith and any
amendments or supplements thereto, (iv)&nbsp;fees and expenses incurred in connection with the listing
of the Registrable Securities, (v)&nbsp;fees and expenses of counsel and independent certified public
accountants for the Buyer, (vi)&nbsp;the reasonable fees and expenses of any additional experts retained
by the Buyer in connection with such registration, (vii)&nbsp;internal expenses of the Buyer, (viii)&nbsp;for
any Piggyback Registration, fees and expenses in connection with any review by the NASD of the
underwriting arrangements or other terms of the offering, (ix)&nbsp;costs of printing and producing any
agreements among underwriters, underwriting agreements, any &#147;blue sky&#148; or legal investment
memoranda and any selling agreements and other documents in connection with the offering, sale or
delivery of the Registrable Securities, and (x)&nbsp;transfer agents&#146; and registrars&#146; fees and expenses
and the fees and expenses of any other agent or trustee appointed in connection with such offering,
<I>provided, however</I>, that the Buyer shall not be required to pay, and the Parent shall reimburse the
Buyer for, any such expenses for any Demand Registration that is withdrawn at the request of the
Parent unless such withdrawn Registration Statement is counted toward the maximum number of Demand
Registrations to which the Parent is entitled under Section <U>3.01</U>. The Parent shall also
pay (i)&nbsp;any underwriting fees, discounts or commissions attributable to the sale of Registrable
Securities and any out-of-pocket expenses of the Parent, and (ii)&nbsp;any out-of-pocket &#147;road show&#148;
expenses incurred by Buyer in connection with any Demand Registration.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.06. <I>Indemnification by the Buyer. </I>The Buyer agrees to indemnify and hold harmless
the Parent, its officers, directors, employees and agents, and each Person, if any, who controls
the Parent within the meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act
from and against any and all losses, claims, damages, liabilities and expenses (including
reasonable expenses of investigation and reasonable attorneys&#146; fees and expenses) (&#147;<B>Damages</B>&#148;)
caused by or relating to any untrue statement or alleged untrue statement of a


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<P align="left" style="font-size: 10pt">material fact contained in any registration statement or prospectus relating to the
Registrable Securities (as amended or supplemented if the Buyer shall have furnished any amendments
or supplements thereto) or any preliminary prospectus (including documents incorporated by
reference therein), or caused by or relating to any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such Damages are caused by or related to any such untrue statement or
omission or alleged untrue statement or omission so made based upon information furnished in
writing to the Buyer by the Parent or on the Parent&#146;s behalf expressly for use therein, <I>provided</I>
that, with respect to any untrue statement or omission or alleged untrue statement or omission made
in any preliminary prospectus, or in any prospectus, as the case may be, the indemnity agreement
contained in this paragraph shall not apply to the extent that any Damages result from the fact
that a current copy of the prospectus (or such amended or supplemented prospectus, as the case may
be) was not sent or given to the Person asserting any such Damages at or prior to the written
confirmation of the sale of the Registrable Securities concerned to such Person if it is determined
that the Buyer has provided such prospectus to the Parent and it was the responsibility of the
Parent to provide such Person with a current copy of the prospectus (or such amended or
supplemented prospectus, as the case may be) and such current copy of the prospectus (or such
amended or supplemented prospectus, as the case may be) would have cured the defect giving rise to
such Damages. The Buyer also agrees to indemnify any underwriters of the Registrable Securities,
their officers and directors and each Person who controls such underwriters within the meaning of
Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act on substantially the same basis
as that of the indemnification of the Parent provided in this Section <U>3.06</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.07. <I>Indemnification by the Parent. </I>The Parent agrees to indemnify and hold harmless
the Buyer, its officers, directors and agents and each Person, if any, who controls the Buyer
within the meaning of either Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act to
the same extent as the foregoing indemnity from the Buyer to the Parent, but only (i)&nbsp;with respect
to information furnished in writing by the Parent or on the Parent&#146;s behalf expressly for use in
any registration statement or prospectus relating to the Registrable Securities, or any amendment
or supplement thereto, or any preliminary prospectus or (ii)&nbsp;to the extent that any Damages result
from the fact that a current copy of the prospectus (or such amended or supplemented prospectus, as
the case may be) was not sent or given to the Person asserting any such Damages at or prior to the
written confirmation of the sale of the Registrable Securities concerned to such Person if it is
determined that it was the responsibility of the Parent to provide such Person with a current copy
of the prospectus (or such amended or supplemented prospectus, as the case may be) and such current
copy of the prospectus (or such amended or supplemented prospectus, as the case may be) would have
cured the defect giving rise to such loss, claim, damage, liability or expense. The Parent also
agrees to indemnify and hold harmless underwriters of the Registrable Securities, their officers
and directors and each Person who controls such underwriters within the meaning of either Section
15 of the Securities Act or Section&nbsp;20 of the Exchange Act on substantially the same basis as that
of the indemnification of the Buyer provided in this Section <U>3.07</U>. As a condition to
including Registrable Securities in any registration statement filed in accordance with Article
<U>3</U>, the Buyer may require that it shall have received an undertaking reasonably satisfactory
to it from any underwriter to indemnify and hold it harmless to the extent customarily provided by
underwriters with respect to similar securities. The Parent shall not be liable under this Section
<U>3.07</U> for any Damages in excess of


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<P align="left" style="font-size: 10pt">the net proceeds realized by the Parent in the sale of Registrable Securities of the Parent to
which such Damages relate.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.08. <I>Conduct of Indemnification Proceedings. </I>If any proceeding (including any
governmental investigation) shall be instituted involving any Person in respect of which indemnity
may be sought pursuant to this Article <U>3</U>, such Person (an &#147;<B>Indemnified Party</B>&#148;) shall
promptly notify the Person against whom such indemnity may be sought (the &#147;<B>Indemnifying Party</B>&#148;) in
writing and the Indemnifying Party shall assume the defense thereof, including the employment of
counsel reasonably satisfactory to such Indemnified Party, and shall assume the payment of all fees
and expenses, <I>provided </I>that the failure of any Indemnified Party so to notify the Indemnifying
Party shall not relieve the Indemnifying Party of its obligations hereunder except to the extent
that the Indemnifying Party is materially prejudiced by such failure to notify. In any such
proceeding, any Indemnified Party shall have the right to retain its own counsel, but the fees and
expenses of such counsel shall be at the expense of such Indemnified Party unless (i)&nbsp;the
Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such
counsel or (ii)&nbsp;in the reasonable judgment of such Indemnified Party representation of both parties
by the same counsel would be inappropriate due to actual or potential differing interests between
them. It is understood that, in connection with any proceeding or related proceedings in the same
jurisdiction, the Indemnifying Party shall not be liable for the reasonable fees and expenses of
more than one separate firm of attorneys (in addition to any local counsel) at any time for all
such Indemnified Parties, and that all such fees and expenses shall be reimbursed as they are
incurred. In the case of any such separate firm for the Indemnified Parties, such firm shall be
designated in writing by the Indemnified Parties. The Indemnifying Party shall not be liable for
any settlement of any proceeding effected without its written consent, but if settled with such
consent, or if there be a final judgment for the plaintiff, the Indemnifying Party shall indemnify
and hold harmless such Indemnified Parties from and against any Damages (to the extent stated
above) by reason of such settlement or judgment. Without the prior written consent of the
Indemnified Party, no Indemnifying Party shall effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Party is or could have been a party and indemnity
could have been sought hereunder by such Indemnified Party, unless such settlement includes an
unconditional release of such Indemnified Party from all liability arising out of such proceeding.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.09. <I>Contribution. </I>If the indemnification provided for in this Article <U>3</U> is
unavailable to the Indemnified Parties in respect of any Damages, then each such Indemnifying
Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such Damages in such proportion as is appropriate
to reflect the relative fault of the Buyer, the Parent and the underwriters in connection with the
statements or omissions that resulted in such Damages, as well as any other relevant equitable
considerations. The relative fault of the Buyer, the Parent and the underwriters shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by such party and the parties&#146; relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Buyer and the Parent agree that it would not be just and equitable if contribution
pursuant to this Section <U>3.09</U> were determined by pro rata allocation (even if the
underwriters


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<P align="left" style="font-size: 10pt">were treated as one entity for such purpose) or by any other method of allocation that does
not take account of the equitable considerations referred to in the immediately preceding
paragraph. Notwithstanding the provisions of this Article <U>3</U>, no underwriter shall be
required to contribute any amount in excess of the amount by which the total price at which the
securities underwritten by it and distributed to the public were offered to the public exceeds the
amount of any Damages which such underwriter has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission, and the Parent shall not be
required to contribute any amount in excess of the amount by which the net proceeds of the offering
(before deducting expenses) received by the Parent exceeds the amount of any Damages which the
Parent has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 3.10. <I>Termination. </I>Parent&#146;s rights to require the registration of Registrable
Securities under this Article&nbsp;3 shall terminate upon the later of five (5)&nbsp;years after the Closing
Date and such time as Parent holds less than ten percent (10%) of the Registrable Securities (as
adjusted for any Adjustment Event).


<P align="center" style="font-size: 10pt">ARTICLE 4



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Certain Covenants And Agreements</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 4.01. <I>Rule&nbsp;144. </I>(a)&nbsp;The Buyer covenants that it will file any reports required to be
filed by it under the Securities Act and the Exchange Act and that it will take such further action
as the Parent may reasonably request to the extent required from time to time to enable the Parent
or its Subsidiaries to sell Registrable Securities without registration under the Securities Act
within the limitation of the exemptions provided by Rule&nbsp;144 under the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC.
Upon the request of the Parent, the Buyer will deliver to the Parent a written statement as to
whether it has complied with such reporting requirements.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Until the third anniversary of the Closing Date, any sale of Registrable Securities by
Sellers, other than pursuant to an Underwritten Registration or Piggyback Registration, shall be in
compliance with the volume limitations set forth in section (e)&nbsp;of Rule&nbsp;144 under the Securities
Act, regardless of whether such section then applies to Sellers, <U>provided</U>, that for
purposes of Rule 144(e) &#147;one percent&#148; shall be deemed to be &#147;two percent.&#148;


<P align="center" style="font-size: 10pt">ARTICLE 5



<P align="center" style="font-size: 10pt">R<FONT style="font-variant: SMALL-CAPS">ight Of First Offer</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.01. <I>Restrictions on Transfer</I>. Any voluntary sale, transfer or other disposition
(&#147;<B>Transfer</B>&#148;) of any of the Shares by a Seller or its Subsidiaries, other than according to the
terms of this Agreement, shall be void and transfer no right, title, or interest in or to any of
such Shares to the purported transferee (it being understood that a Transfer by operation of law


<P align="center" style="font-size: 10pt">11
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<P align="left" style="font-size: 10pt">shall not be restricted by this Article <U>5</U>). Each certificate representing the Shares
acquired by the Sellers at the Closing shall be stamped with the following legend in a prominent
manner:


<P align="left" style="margin-left:9%; margin-right:9%; font-size: 10pt">&#147;The sale or other disposition of any of the shares represented by
this certificate is restricted by a Shareholder Agreement, dated as
of &#95;&#95;&#95;, 2005, as amended from time to time, among Bowne &#038;
Co., Inc. and this corporation (the &#147;Agreement&#148;). A copy of the
Agreement is available for inspection during normal business hours
at the principal executive office of this corporation.&#148;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.02. <I>Offer of Sale; Notice of Proposed Sale</I>. If any Seller desires to Transfer any
of the Shares, or any interest in such Shares, in any transaction other than a sale in a Public
Offering, such Seller shall first deliver written notice of its desire to do so (a &#147;<B>Sale Notice</B>&#148;)
to the Buyer, in the manner prescribed in Section <U>7.02</U> of this Agreement. The Sale Notice
must specify: (a)&nbsp;the name and address of the party to which the Seller proposes to sell or
otherwise dispose of the Shares or an interest in the Shares, if known to the Seller (the
&#147;<B>Offeror</B>&#148;), (b)&nbsp;the number of Shares the Seller proposes to sell or otherwise dispose of (the
&#147;<B>Offered Shares</B>&#148;), (c)&nbsp;the price per share at which Seller proposes to sell the Offered Shares (the
&#147;<B>Offered Price</B>&#148;).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.03. <I>Buyer&#146;s Option to Purchase</I>. The Buyer shall have the option to purchase all of
the Offered Shares at the Offered Price. The Buyer must exercise such option, no later than three
(3)&nbsp;Business Days after such Sale Notice is deemed under Section <U>7.02</U> hereof to have been
delivered to it (the &#147;<B>Option Period</B>&#148;), by written notice to the Seller. In the event the Buyer
duly exercises its option to purchase all of the Offered Shares, the closing of such purchase shall
take place at the offices of the Buyer on the date five (5)&nbsp;Business Days after the exercise of
such option. If the Buyer does not exercise its option to purchase all of the Offered Shares
within the Option Period, then the option of the Buyer to purchase the Offered Shares, shall
terminate and the Seller shall be permitted to sell the Offered Shares to a purchaser that is not
affiliated with Parent at a price per share no lower than the Offered Price within 90&nbsp;days after
expiration of the Option Period. If no such sale occurs within such 90-day period, such Offered
Shares may not be Transferred by Seller without again complying with Section <U>5.02</U> and this
Section <U>5.03</U>. Notwithstanding the foregoing, the Buyer shall not have an option to
purchase Shares from the Seller if the number of Shares being sold does not (a)&nbsp;exceed 4.9% of the
outstanding Buyer Common Stock at the time of the sale (determined by reference to the most
recently filed report under the Securities Act containing such information) or (b)&nbsp;result in the
Person to whom the Shares are being Transferred acquiring more than 4.9% of the outstanding Buyer
Common Stock (determined by reference to the most recently filed report under the Securities Act
containing such information); <I>provided </I>that (i)&nbsp;sales of Shares pursuant to this sentence shall be
subject to the restriction on sales set forth in Section <U>5.04</U> and (ii)&nbsp;the Seller shall
provide prompt written notice of a sale of Shares pursuant to this sentence to the Buyer and the
Seller shall use Reasonable Best Efforts to include the identity of the purchasers to the extent
the Seller has knowledge of such purchasers&#146; identity.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 5.04. <I>Restriction on Transfer to Competitors of the Buyer</I>. Notwithstanding the
provisions of Sections <U>5.02</U> and <U>5.03</U>, in no event shall any Seller or its
Subsidiaries


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<P align="left" style="font-size: 10pt">knowingly Transfer any of the Shares to any Person that is engaged in a business competitive
with that of Buyer.


<P align="center" style="font-size: 10pt">ARTICLE 6



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Standstill</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 6.01. <I>Purchases of Shares of Buyer Common Stock</I>. From the Closing Date until the
third anniversary thereof, Parent shall not, and shall not permit its Subsidiaries to:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;directly or indirectly acquire, announce its intention to acquire, make any proposal to
acquire, agree or offer to acquire ownership of any shares of Buyer Common Stock, or any other
securities convertible into, or any options, warrants or rights to acquire any shares of Buyer
Common Stock or any assets of Buyer (other than property acquired in the ordinary course of
business) from the Buyer or any other Person;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&#147;solicit&#148; or propose to &#147;solicit&#148; or participate in any &#147;solicitation&#148; of any, &#147;proxy&#148; (as
such term is defined in Regulation&nbsp;14A under the Exchange Act) from any holder of shares of Buyer
Common Stock, become a &#147;participant&#148; in a &#147;solicitation&#148; in opposition to any matter that has been
recommended by a majority of the members of the Board of Directors of Buyer, propose or otherwise
solicit stockholders of Buyer for approval of any stockholder proposal or otherwise seek to
influence or control the management or policies of Buyer;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;take any action to form, join in or in any way participate in any partnership, limited
partnership or other Group (as such term is defined under the Exchange Act) with respect to shares
of Buyer Common Stock; or


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;assist or announce its intention to assist any other person in doing any of the foregoing.


<P align="center" style="font-size: 10pt">ARTICLE 7



<P align="center" style="font-size: 10pt"><FONT style="font-variant: SMALL-CAPS">Miscellaneous</FONT>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.01. <I>Binding Effect; Assignability; Benefit. </I>(a)&nbsp;This Agreement shall inure to the
benefit of and be binding upon the parties hereto and their permitted assigns, <I>provided </I>that no
party may (other than by operation of law and other than in the case of a Seller to an Affiliate of
Seller) assign, delegate or otherwise transfer any of its rights or obligations under this
Agreement without the prior consent of the other party hereto, <U>provided</U>, <U>however</U>,
that, (i)&nbsp;the Parent and its Subsidiaries shall not sell or otherwise transfer any of the Shares to
any Affiliate unless the transferee agrees in writing to be bound by the provisions of this
Agreement to the same extent as the Parent, and (ii)&nbsp;the provisions of Article <U>2</U> are not
assignable under any circumstances. It is expressly understood and agreed that the transfer
restrictions set forth in this Agreement shall terminate with respect to each share of Stock
Consideration after such share has been Transferred by a Seller (or an Affiliate thereof) to any
Person that is not an Affiliate of a Seller in compliance with the terms of this Agreement.


<P align="center" style="font-size: 10pt">13
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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Nothing in this Agreement, expressed or implied, is intended to confer on any Person other
than the parties hereto, and their respective heirs, successors, legal representatives and
permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this
Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.02. <I>Notices. </I>All notices, requests, demands, claims, and other communications
hereunder shall be in writing. Any notice, request, demand, claim, or other communication
hereunder shall be deemed duly delivered four (4)&nbsp;Business Days after it is sent by registered or
certified mail, return receipt requested, postage prepaid, or one (1)&nbsp;Business Day after it is sent
for next Business Day delivery via a reputable nationwide overnight courier service, in each case
to the intended recipient as set forth below:

<DIV align="center">
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<TR valign="bottom">
    <TD width="25%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>If to any Seller:</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>Copy (which shall not constitute notice) to:</U></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bowne &#038; Co., Inc.<BR>
345 Hudson Street<BR>
New York, New York 10014<BR>
Attention: General Counsel<BR>
Telecopy: (212)&nbsp;931-1899
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">White &#038; Case LLP<BR>
1155 Avenue of the Americas<BR>
New York, New York 10036<BR>
Attention: Mark L. Mandel, Esq.<BR>
Telecopy: (212)&nbsp;354-8113</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><U>If to the Buyer:</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>Copy (which shall not constitute notice) to:</U></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Lionbridge Technologies, Inc.<BR>
1050 Winter Street<BR>
Suite&nbsp;2300<BR>
Waltham, MA 02451<BR>
Attention: General Counsel<BR>
Telecopy: (781)&nbsp;434-6057
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wilmer Cutler Pickering Hale and Dorr LLP<BR>
60 State Street<BR>
Boston, Massachusetts 02109<BR>
Attention: Mark G. Borden, Esq.<BR>
Telecopy: (617)&nbsp;526-5000</TD>
</TR>
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</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any party may give any notice, request, demand, claim, or other communication hereunder using
any other means (including personal delivery, expedited courier, messenger service, telecopy,
telex, ordinary mail, or electronic mail), but no such notice, request, demand, claim, or other
communication shall be deemed to have been duly given unless and until it actually is received by
the party for whom it is intended. Any party may change the address to which notices, requests,
demands, claims, and other communications hereunder are to be delivered by giving the other party
or parties notice in the manner herein set forth.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.03. <I>Waiver; Amendment. </I>No provision of this Agreement may be waived except by an
instrument in writing executed and delivered by duly authorized officers of the respective parties.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.04. <I>Fees and Expenses. </I>Except as otherwise provided in the Purchase Agreement, each
party shall bear its own costs and expenses incurred in connection with the preparation of this
Agreement, or any amendment or waiver hereof.


<P align="center" style="font-size: 10pt">14
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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.05. <I>Governing Law. </I>This Agreement shall be governed by, and construed in accordance
with, the laws of the State of New York, without regard to the conflicts of laws rules of such
state.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.06. <I>Waiver of Jury Trial. </I>Each of the Buyer and the Sellers hereby waive, to the
fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of
any litigation as between the parties directly or indirectly arising out of, under or in connection
with this Agreement or the transactions contemplated hereby or disputes relating hereto. Each of
the Buyer and the Sellers (i)&nbsp;certifies that no representative, agent or attorney of the other
party has represented, expressly or otherwise that such other party would not, in the event of
litigation, seek to enforce the foregoing waiver and (ii)&nbsp;acknowledges that it and the other party
have been induced to enter into this Agreement by, among other things, the mutual waivers and
certifications in this Section <U>7.06</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.07. <I>Specific Enforcement. </I>Each party hereto acknowledges that the remedies at law
of the other party for a breach or threatened breach of this Agreement would be inadequate and, in
recognition of this fact, any party to this Agreement, without posting any bond, and in addition to
all other remedies that may be available, shall be entitled to obtain equitable relief in the form
of specific performance, a temporary restraining order, a temporary or permanent injunction or any
other equitable remedy that may then be available.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.08. <I>Counterparts; Effectiveness. </I>This Agreement may be executed in any number of
counterparts, each of which shall be deemed to be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. This Agreement shall become effective
when each party hereto shall have received counterparts hereof signed by the other party hereto.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.09. <I>Entire Agreement. </I>This Agreement and the Purchase Agreement constitute the
entire agreement among the parties hereto and supersede all prior and contemporaneous agreements
and understandings, both oral and written, among the parties hereto with respect to the subject
matter hereof and thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.10. <I>Captions. </I>The captions herein are included for convenience of reference only
and shall be ignored in the construction or interpretation hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.11. <I>Severability. </I>If any term, provision, covenant or restriction of this Agreement
is held by a court of competent jurisdiction or other authority to be invalid, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement
shall remain in full force and effect and shall in no way be affected, impaired or invalidated so
long as the economic or legal substance of the transactions contemplated hereby is not affected in
any manner materially adverse to any party. Upon such a determination, the parties shall negotiate
in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in an acceptable manner so that the transactions contemplated hereby be
consummated as originally contemplated to the fullest extent possible.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.12. <I>Jurisdiction; Agents for Service of Process. </I>Any judicial proceeding brought
against any of the parties to this Agreement on any dispute arising out of this Agreement


<P align="center" style="font-size: 10pt">15
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<P align="left" style="font-size: 10pt">or any matter related hereto may be brought exclusively in the courts of the State of New York
located in New York City or in the United States District Court for the Southern District of New
York, and, by execution and delivery of this Agreement, each of the parties to this Agreement
accepts the exclusive jurisdiction of such courts, and irrevocably agrees to be bound by any
judgment rendered thereby in connection with this Agreement. The foregoing consent to jurisdiction
shall not constitute general consent to service of process in the State of New York for any purpose
except as provided above and shall not be deemed to confer rights on any Person other than the
respective parties to this Agreement. Each of the Sellers and the Buyer agree that service of any
process, summons, notice or document by United States registered mail to such party&#146;s address set
forth above shall be effective service of process for any action, suit or proceeding in New York
with respect to any matters for which it has submitted to jurisdiction pursuant to this Section
<U>7.12</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SECTION 7.13. <I>Construction. </I>The language used in this Agreement shall be deemed to be the
language chosen by the parties to express their mutual intent, and no rule of strict construction
shall be applied against any party.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have caused this Shareholder Agreement to be duly
executed by their respective authorized officers as of the day and year first above written.

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    <TD width="2%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
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    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">BOWNE &#038; CO., INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR>
Title:</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">LIONBRIDGE TECHNOLOGIES, INC.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:<BR>
Title:</TD>
</TR>
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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>y10408exv99w1.htm
<DESCRIPTION>EX-99.1: PRESS RELEASE
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<P align="right" style="font-size: 10pt"><B>Exhibit&nbsp;99.1</B>


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><IMG src="y10408y1040800.gif" alt="(BOWNE LOGO)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Bowne &#038; Co., Inc.</B><BR>
345 Hudson Street<BR>
212/886-0614<BR>
Fax: 212/924-5500</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-size:12pt"><B>News Release</B></FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="32%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Investor Relations Contact:</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Media Contact:</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">William J. Coote
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Kate O&#146;Brien</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">VP &#038; Treasurer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Director, Corporate Communications</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">212-886-0614
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">212-229-7214</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">bill.coote@bowne.com
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">kate.obrien@bowne.com</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 12pt"><U>For Immediate Release</U>



<P align="center" style="font-size: 10pt"><B>Bowne Sells Globalization Business to Lionbridge</B>


<P align="left" style="font-size: 10pt">NEW YORK, June&nbsp;27, 2005 &#151; Bowne &#038; Co., Inc. (NYSE: BNE) announced today that it has entered into a
definitive agreement to sell Bowne Global Solutions to Lionbridge Technologies, Inc. (Nasdaq:
LIOX), a provider of globalization and testing services, for a total sale price with a value of at
least $180&nbsp;million.


<P align="left" style="font-size: 10pt">Bowne Global Solutions (BGS)&nbsp;provides language and cultural solutions that use translation,
localization, technical writing and interpretation services to help companies adapt their
communications or products for use in other cultures and countries around the world.


<P align="left" style="font-size: 10pt">&#147;This transaction is a significant step in Bowne&#146;s continuing efforts to sharpen our focus on the
core business upon which our company has been built,&#148; said Bowne Chairman and Chief Executive
Officer Philip Kucera. &#147;We believe this transaction provides significant benefits to Bowne
shareholders by unlocking the value of BGS. Bringing together BGS and Lionbridge will benefit both
companies&#146; clients, employees and shareholders.&#148;


<P align="left" style="font-size: 10pt">&#147;This combination is strategically compelling. We are leveraging the combined capabilities of two
successful organizations,&#148; said Rory Cowan, Chairman and Chief Executive Officer of Lionbridge
Technologies. &#147;Customers will benefit from a unified commitment to service excellence, the most
advanced technology-enabled services and the efficiencies that joining the two companies will
bring. Our employees will benefit from our shared traditions of growth, innovation and career
advancement. Shareholders will benefit from the combined efficiencies, broadening of revenues and
industry leadership.&#148;


<P align="left" style="font-size: 10pt">Under the terms of the agreement, the consideration consists of at least $130&nbsp;million in cash and
9.4&nbsp;million shares of Lionbridge common stock. If the shares issued to Bowne do not have a value of
$50&nbsp;million at the time of closing, Lionbridge will issue a subordinated note to Bowne of up to $20
million to bring the value of the shares, together with the note, to $50&nbsp;million. If the shares
have a value greater than $68&nbsp;million, the number of shares will be reduced so that the value is no
greater than $68&nbsp;million. Bowne will also receive one seat on the Lionbridge Board of Directors.



<P align="center" style="font-size: 10pt">-more-



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="left" style="font-size: 10pt">The Bowne Board of Directors is reviewing plans for the proceeds from the sale. Alternatives under
review include further investment in the core businesses (including strategic acquisitions), debt
retirement, share repurchases and/or cash dividends<I>. </I>Bowne currently has authorization for the
buyback of up to $35&nbsp;million of the company&#146;s common stock.


<P align="left" style="font-size: 10pt">The transaction is subject to customary closing conditions. Goldman, Sachs &#038; Co. served as the
financial advisor to Bowne.


<P align="left" style="font-size: 10pt">The Company stated that its full-year guidance, regarding BGS&#146; revenue of $225 to $265&nbsp;million and
segment profit of $19 to $24&nbsp;million, is unchanged from the outlook provided April&nbsp;28, 2005.



<P align="center" style="font-size: 10pt">********


<P align="left" style="font-size: 10pt">Bowne has scheduled a conference call to discuss this transaction with investors on Tuesday, June
28 at 10:00&nbsp;a.m. (Eastern Time). To join the webcast, log on to http://www.bowne.com. To access the
call via telephone, please dial:



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Domestic callers: (877)&nbsp;502-9272<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International callers: (913)&nbsp;981-5581

<P align="left" style="font-size: 10pt">A replay of the call will be available at http://www.bowne.com from 1 p.m., June&nbsp;28, through
midnight, July&nbsp;12, 2005. To access the rebroadcast via telephone, please dial: (888)&nbsp;203-1112
(domestic)&nbsp;or (719)&nbsp;457-0820 (international); use passcode 3605414.



<P align="center" style="font-size: 10pt">********



<P align="left" style="font-size: 10pt"><B>Forward-Looking Statement</B>


<P align="left" style="font-size: 10pt">The company noted that forward-looking statements of future performance contained in this release
are based upon current plans, expectations, events and financial and industry trends which may
cause the company&#146;s future operating results and financial position to differ materially from those
suggested here, including capital market conditions, demand for and acceptance of the company&#146;s
services, new technological developments, competition, failure to receive regulatory approval for
the sale, the opportunity to successfully reinvest the proceeds from the transaction, and general
economic conditions. Such statements involve risk and uncertainties, which cannot be predicted or
quantified. Historical results achieved are not necessarily indicative of future prospects of the
company.



<P align="center" style="font-size: 10pt">-more-



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<P align="left" style="font-size: 10pt"><B>About Bowne &#038; Co., Inc.</B>


<P align="left" style="font-size: 10pt"><I>Bowne &#038; Co., Inc., founded in 1775, is a global leader in providing high-value solutions that
empower our clients&#146; communications.</I>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Bowne Financial Print: </I></B><I>The world&#146;s largest financial printer and leading EDGAR filer,
specializing in the creation, management, translation and distribution of regulatory and
compliance documents.</I></TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Bowne Enterprise Solutions: </I></B><I>Digital composition, print, delivery and fulfillment of
customized and personalized communications designed to enable companies to more-effectively
target customers to increase market leadership.</I></TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Bowne Global Solutions: </I></B><I>A broad range of language and cultural solutions that use
translation, localization, technical writing and interpretation services to help companies
adapt their communications or products for use in other cultures and countries around the
world.</I></TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B><I>Bowne Litigation Solutions: </I></B><I>Consulting, electronic discovery and software solutions,
including DecisionQuest&#174;, one of the nation&#146;s largest trial research firms, bring our
clients fresh perspective resulting in better informed choices about strategies and tactics
at every step in the litigation process.</I></TD>
</TR>

</TABLE>

<P align="left" style="font-size: 10pt"><I>Bowne &#038; Co. combines these capabilities with superior customer service, new technologies,
confidentiality and integrity to manage, repurpose and distribute a client&#146;s information to any
audience, through any medium, in any language, anywhere in the world. For more information, visit
us at </I><U><I>www.bowne.com</I></U><I>.</I>



<P align="left" style="font-size: 10pt"><B>About Lionbridge</B>


<P align="left" style="font-size: 10pt"><I>Lionbridge Technologies, Inc. (NASDAQ: LIOX) is a leading provider of globalization and testing
services. Lionbridge combines global onshore, near shore and offshore resources with proven program
management methodologies to serve as an outsource partner throughout a client&#146;s product and content
lifecycle &#151; from development to globalization, testing and maintenance. Global organizations in
all industries rely on Lionbridge services to increase international market share, speed adoption
of global products and content, and enhance their return on enterprise applications and IT system
investments. Based in Waltham, Mass., Lionbridge maintains 21 solution centers in 9 countries and
provides services under the Lionbridge and VeriTest brands. To learn more, visit</I>
<U><I>http://www.lionbridge.com</I></U><I>.</I>



<P align="center" style="font-size: 10pt">###




<P align="center" style="font-size: 10pt">&nbsp;
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