SECURITIES FRAUD
 

Shapiro Haber & Urmy LLP Announces Class Action Lawsuit Against Presstek, Inc.

BOSTON, MA -- October 20, 2006 -- Shapiro Haber & Urmy LLP announces a class action alleging securities fraud is pending in the United States District Court for the District of New Hampshire against Presstek, Inc. (“Presstek” or the “Company”)(NASDAQ: PRST), and certain of its officers. The case was filed on behalf of all purchasers of the common stock of Presstek during the period from July 27, 2006 through September 29, 2006 (the “Class Period”). United States District Judge James Muirhead is presiding over the case, entitled Sloman v. Presstek, Inc., et al., No. 06-cv-377-JM.

If you purchased Presstek common stock during the Class Period, and you suffered  damages, no later than December 19, 2006, you may move the court to appoint you as lead plaintiff.

The Complaint alleges that the defendants violated Section 10(b) of the Securities Exchange  Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing false and misleading public statements regarding Presstek’s expected revenue growth in 2006. On July 27, 2006, Defendants issued a press release announcing the Company’s financial results for the second quarter of 2006, and stating that the defendants expected that Presstek would reach its 10% annual revenue growth target for 2006. On September 28, 2006, Presstek’s representatives stated they expected the Company to have 10% revenue growth in 2006 and 10-15% in 2007.  

At 12:05 a.m. on September 29, 2006, Defendants issued a press release reporting Presstek’s preliminary financial results for the quarter ended September 30, 2006, which disclosed that Presstek did not expect to reach its previously projected 10% annual revenue growth target for 2006. As a result, the price of Presstek stock dropped sharply, opening at $4.95 a share at the start of trading on September 29, down $1.28 or 20% from the previous day’s closing price of $6.23 a share. The Complaint alleges that Plaintiff and other Class members were damaged because they purchased stock at artificially inflated prices during the Class Period as a result of Defendants’ fraudulent conduct.

The factual and legal bases for the Plaintiff’s claims are set forth in greater detail in the Complaint. A copy of the Complaint can be obtained from the office of the Clerk of the United States District Court for the District of New Hampshire, 110 Warren B. Rudman United States Courthouse, 55 Pleasant Street, Concord, NH 03301, (603) 225-1423. A copy of the Complaint can also be obtained, without any obligation, from counsel for the plaintiff, Thomas G. Shapiro, Shapiro Haber & Urmy LLP, 53 State Street, Boston, MA 02109, (800) 287-8119 or (617) 439-3939, cases@shulaw.com.  More information about the law firm of Shapiro Haber & Urmy LLP and its qualifications is available on the firm’s website at www.shulaw.com.