Business News

SCHAWK TO BUYBACK SHARES UNDER PREVIOUSLY ANNOUNCED STOCK REPURCHASE PROGRAM

Thursday 21. August 2008 - Schawk, Inc. (NYSE: SGK), a leading provider of brand point management services, enabling companies of all sizes to connect their brands with consumers to create deeper brand affinity, announced that, as part of its currently authorized share repurchase program, it intends to commence open-market share repurchases under its share repurchase plan on or after August 21.

The share repurchase will be funded using Schawk’s existing cash balance and its revolving credit facility, which had $78.6 million of additional availability as of June 30, 2008.
In February, Schawk’s board of directors authorized the repurchase of up to two million shares of the Company’s common stock. Due to delays earlier this year in filing public financial reports, the Company has withheld from repurchasing shares since the initial authorization. As of June 30, 2008, Schawk had 27.2 million shares outstanding.

The share repurchases may occur from time-to-time through open market purchases, privately negotiated transactions and/or transactions structured through investment banking institutions as permitted by securities laws and other legal requirements. The program allows the Company to repurchase its shares at its discretion. Market conditions will influence the timing of the buyback and the number of shares repurchased. The program does not obligate the Company to repurchase any specific number of shares and may be suspended or terminated at any time without prior notice. Shares repurchased will be held as treasury shares.