EXHIBIT 99.1

             MULTI-COLOR CORPORATION PURCHASES PREMIERE LABELS, INC.

     Acquisition Augments Existing Growth in Pressure Sensitive Label Market

CINCINNATI, OHIO, October 29, 2001 - Multi-Color Corporation (NASDAQ: LABL)
announced that it has purchased Premiere Labels, Inc. of Troy, Ohio. Premiere
Labels is a leading manufacturer of award-winning, pressure sensitive labels
used by consumer product companies worldwide. Both Multi-Color and Premiere
recently received several printing awards for quality in the Tag and Label
Manufacturer's Institute 24/th/ Annual International award competition.

"We are extremely pleased to acquire such a well-known and respected
manufacturer of technically demanding pressure sensitive label applications,"
said Frank Gerace, Multi-Color President and Chief Executive Officer. "As last
week's quarterly earnings release indicated, we possess the financial strength
to seek and acquire the strategic resources necessary to position our Company
for continued growth and prosperity."

Premiere Labels will bring technology and product offerings that compliment
Multi-Color's Batavia, Ohio plant, which the Company acquired in the 4/th/
quarter of 1999 to expand into the larger pressure sensitive label market. As
the Batavia plant nears full production capacity, the acquisition of Premiere
also allows Multi-Color to continue to grow its pressure sensitive line of
business.

"As with all acquisitions we consider, we expect the addition of Premiere to be
accretive to earnings immediately. Our common values surrounding quality and
customer service will allow for a smooth integration as well," added Gerace.

Multi-Color plans to retain all employees and production facilities in Troy,
Ohio.

"I am extremely impressed with the skills exhibited by the employees of
Premiere," commented Gerace. `The quality products they produce for their
impressive list of customers is indicative of the craftsmanship and attention to
detail they possess."

Mike Magel, spokesperson for Premiere Labels said, "We are pleased to become a
part of the Multi-Color family. Multi-Color's strong sales and marketing coupled
with broad product offerings will leverage Premiere's award winning reputation
in the marketplace. This combination will prove to be extremely beneficial to
Premiere's customers and employees."

This acquisition comes on the heals of Multi-Color's recent authorization of a 3
for 2 stock split and a quarterly earnings announcement that highlighted the
Company's recent sales revenue increases due to growth in the pressure sensitive
area.

                                     -more-


About Multi-Color (www.multicolorcorp.com)
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Cincinnati, Ohio based Multi-Color Corporation is the premier supplier of
specialty decorative labels and related services for technically demanding
applications to consumer product companies and container manufacturers
worldwide. Multi-Color is the leading producer of in-mold labels (IML) and
specialty labels. Recent acquisitions have placed the Company into the high-end
pressure sensitive and heat shrink label markets and tamper-evident neckband
markets. The Company has four manufacturing operations in the United States. Its
products are shipped to more than 40 locations in the U.S., Canada, Mexico,
South America and Asia.

Safe Harbor Statement
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Forward looking statements in this release including, without limitations,
statements relating to the Company's plans, strategies, objectives,
expectations, intentions and adequacy of resources, are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks, uncertainties
and other factors that may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. These
factors include, among others, the following: general economic and business
conditions; the ability to integrate acquisitions; the success of its
significant customers; competition; acceptance of new product offerings; changes
in business strategy or plans; quality of management; availability, terms and
development of capital; availability of raw materials; business abilities and
judgement of personnel; changes in, or the failure to comply with, government
regulations, and other factors. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.


For more information, please contact:

Dawn H. Bertsche
Chief Financial Officer
Multi-Color Corporation
(513) 345-1108
dbertsche@mcclabel.com
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