Chicago, Ill., January 9, 2003 - Bell & Howell Company, a leading provider of mail and messaging solutions and services, and Böwe Systec AG, a leading provider of paper management systems, announced today that they have completed a transaction that combines Böwe's North American operations with Bell & Howell Company.  The current owners of Bell & Howell Company led by Glencoe Capital Partners III, L.P., a Chicago- based private equity fund, and Böwe Systec AG will each own 50% of the combined company.  The combined company will operate under the name Böwe Bell & Howell. The transaction will combine the individual strengths of both organizations, resulting in the most comprehensive product and service offering to North American customers.