U.S. Office Products releases May results; Same store sales up 35%.

WASHINGTON--(BUSINESS WIRE)--July 16, 1996--U.S. Office Products Company (NASDAQ:OFIS) announced today that it had record sales and profits for the one-month fiscal period ending June 1, 1996.

The company announced that revenues for the month were approximately $108,023,000 and net income

"We are delighted that same store sales for the year-over-year period were up 35% in May," said USOP Chairman and Chief Executive Officer Jonathan J. Ledecky.

Same store sales for the period include the seven companies owned by USOP for at least one year.

"Our focus on our mid-size office supply customer of 50 to 500 employees is paying off as we continue to penetrate this vibrant sector of the economy with additional products and services from our expanding one-stop menu approach," said USOP President and Chief Operating Officer Tim Flynn.

USOP also announced that it is comfortable with analyst estimates for the first quarter and the entire fiscal year ending April 30, 1997.

The company also indicated that it is on track with its aggressive international acquisition program. The company also commented that it has been largely insulated from paper pricing issues impacting its industry competitors due to USOP's highly diversified approach to the office products industry.

The company's involvement in additional sectors such as new and remanufactured furniture, school supplies and office break-room products (coffee, beverages, etc.) means that its percentage of paper sales is significantly less than that of its major competitors.

U.S. Office Products Company, one of the fastest growing contract stationers in the country, was founded in October 1994 to create a nationwide office products supplier, primarily to corporate, commercial, and industrial customers.

The company sells a full-range of over 28,000 office and educational products to customers in 34 states. Since its inception, the company has completed 65 acquisitions, and it has annualized sales of approximately $1.3 billion.

CONTACT: U.S. Office Products

Donald H. Platt, 202/628-9500 or 800/330-6347

or Edelman Financial

Ophelia Bumgardner (Analysts), 212/704-4517

or Kerry O'Brien (Media), 212/704-8291