January 20, 2003 - Lake Forest, CA - (BUSINESS WIRE) – Quality Imaging Products, www.qip.net, a worldwide leader in toner and inkjet cartridge manufacturing, is pleased to announce that Mr. Paul McDonnel has joined the company as the Chief Executive Officer.

"Quality Imaging Products has experienced impressive growth in each of the past 12 years and has been named to the Inc. 500 list of fastest growing companies for four consecutive years.  Our success has resulted from providing value to the customer through the highest quality products, excellent customer service, and leading product innovation.  Mr. McDonnel’s experience and expertise in industrial manufacturing environments will ensure that QIP customers continue to enjoy the finest quality levels in the remanufactured cartridge industry and that QIP remains an industry leader in new product introductions and customer service," comments Martin Stein, President of Quality Imaging Products.

“I have followed the performance of Quality Imaging Products for the last two years and have been impressed with the progress the company has made over that time.  I am excited to join the QIP team and look forward to continuing our tradition of operational excellence,” states Paul McDonnel, CEO of QIP. 

Prior to joining QIP, Mr. McDonnel was the Chief Financial Officer of Instashred Security Services, a nationwide leader in secure destruction services.  Prior to Instashred, Mr. McDonnel served for 10 years in a variety of senior management positions with Reid Plastics, Inc. a worldwide leader in blow molding plastic containers.  As CFO, VP, Operations and eventually COO of Reid Plastics, Inc., he was responsible for the domestic and international operations of 34 plants and 1300 employees.  While at Reid Plastics, Mr. McDonnel coordinated the design, planning, construction and start-up of several new blow-molding plants and oversaw all manufacturing related activities including quality, service, and new product development until its sale in 1998.  Previously, Mr. McDonnel also served as the VP, Finance and Administration of Trojan Enterprises a commercial real estate and development company.  Mr. McDonnel began his career in the Los Angeles office of Arthur Andersen & Co.

Mr. McDonnel received his MA degree in Management Accounting and his BS in accounting from Brigham Young University.

About Quality Imaging Products

Quality Imaging Products is a leader in the remanufacture of compatible toner and inkjet cartridges. Customers look to QIP to provide them with high quality, superior value and environmentally friendly, solutions to their imaging needs. QIP's largest market is North America where it sells primarily through wholesalers, office products dealers, OEMs, computer products dealers, and printer service technicians.

QIP manufactures over 480,000 cartridges per year and employs 160 associates at its 30,000 square foot state-of-the-art facility in Lake Forest, California. QIP currently offers over 160 different product lines. For more information on Quality Imaging Products, call (800) 423-8600 or visit http://www.qip.net/index.asp.