Printronix Stockholders Approve Merger Agreement

  
    
  
  
    
      Printronix, Inc. (Nasdaq: PTNX), a leading manufacturer of integrated 
      enterprise printing solutions for the supply chain, today announced 
      that, at a special meeting of stockholders held today, Printronix 
      stockholders adopted the Agreement and Plan of Merger, dated as of 
      October 1, 2007, by and among Printronix, Pioneer Holding Corp., and 
      Pioneer Sub Corp. Pioneer Holding Corp. is controlled by Vector Capital, 
      a San Francisco-based private equity firm.
    
    
      Mr. Kleist, the Chief Executive Officer of Printronix, and other members 
      of Printronix senior management are expected to own approximately 9.9% 
      of Printronix after consummation of the transaction.
    
    
      The merger agreement was adopted by the holders of a majority of 
      Printronix’s outstanding common stock, as 
      required by Delaware law.
    
    
      Printronix expects that the transactions contemplated by the merger 
      agreement will be consummated in early January of 2008, subject to 
      satisfaction of the conditions to closing under the merger agreement. 
      Under the terms of the merger agreement, each outstanding share of 
      Printronix’s common stock (other than shares 
      held by stockholders who perfect appraisal rights in accordance with 
      Delaware law) will be converted into the right to receive $16.00 in cash.
    
    
      About Printronix
    
    
      Since 1974, Printronix, Inc. has created innovative printing solutions 
      for the industrial marketplace and supply chain. The Company is the 
      worldwide market leader in enterprise solutions for line matrix printing 
      and has earned an outstanding reputation for its high-performance 
      thermal bar code and fanfold laser printing solutions. Printronix also 
      has become an established leader in pioneering technologies, including 
      radio frequency identification (RFID) printing, bar code compliance and 
      networked printer management. Printronix is headquartered in Irvine, 
      California. For Company information, see www.Printronix.com.
    
    
      About Vector Capital
    
    
      Vector Capital is a leading private equity firm specializing in buyouts, 
      spinouts and recapitalizations of established technology businesses. 
      Vector identifies and pursues these complex investments in both the 
      private and public markets. Vector actively partners with management 
      teams to devise and execute new financial and business strategies that 
      materially improve the competitive standing of these businesses and 
      enhance their value for employees, customers and shareholders. Among 
      Vector’s notable investments are Savi 
      Technology, LANDesk Software, Corel Corporation (Nasdaq: CREL), 
      Register.com, and Watchguard Technologies. For more information, visit www.vectorcapital.com
    
    
      Forward-Looking Statements
    
    
      Certain statements in this press release, including statements about the 
      potential benefits of the proposed acquisition to Printronix 
      stockholders, customers, partners and employees and about the expected 
      closing of the proposed acquisition and other statements about our 
      plans, objectives, intentions, and expectations are “forward-looking 
      statements” within the meaning of the 
      Securities Exchange Act of 1934, as amended. These forward-looking 
      statements include statements regarding benefits of the proposed 
      transaction, future performance, financing for the transaction and the 
      completion of the transaction. These statements are based on the current 
      expectations of management of Printronix. There are a number of risks 
      and uncertainties that could cause actual results to differ materially 
      from the forward-looking statements included in this document. For 
      example, among other things, (1) conditions to the closing of the 
      transaction may not be satisfied; (2) the transaction may involve 
      unexpected costs, unexpected liabilities or unexpected delays; (3) the 
      businesses of Printronix may suffer as a result of uncertainty 
      surrounding the transaction; and (4) Printronix may be adversely 
      affected by other economic, business, and/or competitive factors. 
      Additional factors that may affect the future results of Printronix are 
      set forth in its filings with the Securities and Exchange Commission, 
      which are available at www.sec.gov. 
      Unless required by law, Printronix undertakes no obligation to publicly 
      update or revise any forward-looking statements, whether as a result of 
      new information, future events or otherwise.