MacAndrews & Forbes Holdings Proposes Merger Transaction in Order to Acquire all M & F Worldwide Shares for $24

MacAndrews & Forbes Holdings Inc. today announced that it has proposed a transaction pursuant to which M & F Worldwide Corp.

would be merged with a subsidiary of M&F and all outstanding shares of common stock of MFW not owned by M&F would be converted into the right to receive $24.00 in cash per share. The proposed cash consideration represents a greater than 41% premium to the Company's closing share price on June 10, 2011.