ELLISON APPOINTS REED FEIST CFO

LAKE FOREST, Calif. (February 11, 2005) - Ellison, the leading manufacturer of hand-operated die-cutting equipment, is proud to announce the promotion of Reed Feist to the position of Chief Financial Officer. In his new role, Feist is responsible for worldwide finance and accounting with direct oversight of the financial functions in China, Ireland and Mexico in addition to ongoing domestic responsibilities.

Along with his financial and accounting roles, Feist is also responsible for global tax, treasury, import/export, logistics and central planning. He will operate from the company’s Lake Forest, California headquarters and report directly to Lisa Corcoran, CEO of Ellison.

“Reed’s wealth of experience in finance is key, as our Ellison family continues to grow throughout the world,” said Corcoran.

Feist joined Ellison in 2003 as Director of Finance. He has 17 years of experience in a broad range of accounting and finance. Previously, he was the Director of Finance for Insulectro, the largest distributor of printed circuit board materials, supplies and process solutions. While at Insulectro, Feist expanded his experience in mergers and acquisitions with the acquisition of a manufacturing supplier, a regional distributor and the divestiture of an electronic components division. Prior to that, Feist was Finance Manager for AST Research, Inc., a $2.5 billion manufacturer and distributor of personal computers. While at AST, he was responsible for SEC reporting, management reporting and consolidations of domestic operations and international subsidiaries.

Feist also served as Vice President of Finance for IP Mobile Net, a high-tech start-up company in the wireless communication industry, where he was successful in obtaining additional rounds of financing from investors. He helped steer the company from the research and development phase to the revenue phase of product sales.

Before joining the ranks of financial professionals in the private sector, Feist earned his Certified Public Accountant (C.P.A.) license from the state of California. He began his career in public accounting with KPMG in Orange County in the audit field where he served clients in manufacturing, distribution and service.

Feist holds a Masters in Accounting from Brigham Young University, where he also did his undergraduate work, earning a Bachelor of Arts in Japanese and a Bachelor of Science in Accounting.

About Ellison Corporate
Since 1977, Ellison has been the leader in die-cutting innovation and product development. Ellison manufacturers and distributes the Prestige™ line of professional die-cutting machines and over 8,000 dies. Ellison is also the manufacturer, distributor and retailer of Sizzix® consumer die-cutting equipment and ancillary products. Ellison empowers people to express their personal and professional creativity using its innovative products and is committed to continuing this tradition for generations to come. More information can be found at corp.ellison.com.