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SATO Completes Purchase Of Checkpoint’s Barcode Systems (BCS) Businesses

Brussels, 15 February 2006 – SATO, a pioneer in the Automatic Identification and Data Collection (AIDC) industry and a leader in barcode printing, labelling, and EPC/RFID solutions, announced that it has successfully completed the acquisition, previously made public on December 22, 2005, of Checkpoint’s former BCS businesses as well as the Hand-held Labeling Systems (HLS) in the United States. All closing conditions including regulatory and other third-party approvals necessary for the transaction to be completed were, as expected, met in time to satisfy the targeted closing date of January 29.

The recently acquired physical assets and now SATO staff will operate under five new companies based in North America, Spain, Germany, Australia and New Zealand respectively.

“This deal offers SATO the immediate benefit of increasing our capacity in existing markets as well as expanding the company’s network into markets not fully explored yet. The size of our business outside of Japan has jumped from US$114 million to potentially more than US$220 million. It represents a significant step forward in our drive to meeting our 2015 target for overseas business of 75 billion yen (about US$637 million). This acquisition fits with our long-term vision of growth and profitability, especially in the consumables market segment outside of Japan.” said SATO President Masanori Otsuka.

”While it is still early days, we have already seen plenty of evidence of what the BCS businesses will bring to the fold: highly developed label converting facilities, full product offering of barcode and labelling solutions, longstanding sourcing and channel relationships and, unsurprisingly, knowledgeable, experienced and dedicated staff. There are always risks and uncertainties associated with any type of acquired businesses, but with all parties committed to making this a success, there is every reason to believe that the full benefits of the integration of the BCS businesses into the SATO Group will be realised.”

The 5 new SATO Group Member Companies (GMCs) are:

SATO Labeling Solutions America Inc.
1140 Windham Parkway, Romeoville, Illinois 60446, USA
Paid-in capital: US$16,475,000
Number of employees: 143
Key People: Joseph Podsedly, President. Shawn Baer and Richard Wescott, VPs.
Areas of business: Sales of barcode and laser printers, hand labellers, ticket dispensing systems and associated consumables. Sales of specialised printers for the horticulture industry as well as horticultural labels and tags.

SATO Labelling Solutions Europe GmbH
Ersheimer Straße 71, 69434 Hirschhorn, Germany
Paid-in capital: EUR9,628,000
Number of employees: 140
Key People: Kaz Matsuyama, MD. Marc Lehnhaeuser, GM of Operations. Edmund Trossen, GM of Sales
Areas of business: Sales of barcode printers. Production and sales of consumables related to the use of barcode printers.

SATO Iberia SA
Orio, 1, 08202 Sabadell, Barcelona, Spain
Paid-in capital: EUR2,750,000
Number of employees: 21
Key People: Kaz Matsuyama, MD. Ramon Salvia Gonzalez, GM.
Areas of business: Sales of barcode printers. Production and sales of consumables related to the use of barcode printers.

SATO Australia Pty Ltd
80 Lewis Road , Wantrina South VIC 3152
PO Box 1364 , Glen Waverley, VIC 3150
Melbourne , Australia
Paid-in capital: AUD4,884,000
Number of employees: 30
Key People: Badi Alai, MD. Michael Champness, GM of Sales. Christopher Powell, GM of Operations.
Areas of business: Sales of barcode printers. Production and sales of consumables related to the use of barcode printers.

SATO New Zealand Ltd
30 Apollo Drive , Mairangi Bay
PO Box 305-031, North Shore
Auckland , New Zealand
Paid-in capital: NZD3,796,000
Number of employees: 40
Key People: Badi Alai, MD.
Areas of business: Sales of barcode printers. Production and sales of consumables related to the use of barcode printers.

Notes
1. US dollar amounts have been translated, for convenience only, at the rate of 117.75 yen = US$1, the approximate exchange rate prevailing on January 30, 2006. Billion is used in the American sense of one thousand million.

About Checkpoint Systems

Checkpoint Systems, Inc. is a multinational manufacturer and marketer of integrated systems solutions for retail security, labelling, and merchandising. Checkpoint is a leading provider of EAS and RFID systems, source tagging, hand-held labelling systems, retail merchandising systems, and barcode labelling systems. Applications include automatic identification, retail security and pricing, and promotional labels. Operating directly in 30 countries, Checkpoint has a global network of subsidiaries and provides professional customer service and technical support around the world. Checkpoint Systems, Inc.'s website is located at www.checkpointsystems.com