INTELLECTUAL PROPERTY SECURITY AGREEMENT

                                                                  EXECUTION COPY

                    INTELLECTUAL PROPERTY SECURITY AGREEMENT

          This INTELLECTUAL PROPERTY SECURITY AGREEMENT, dated as of December

15, 2005 (as amended, supplemented or otherwise modified from time to time, the

"Intellectual Property Security Agreement"), is made by each of the signatories

hereto (collectively, the "Grantors") in favor of Bear Stearns Corporate Lending

Inc., as administrative agent (in such capacity, the "Administrative Agent") for

the Secured Parties (as defined in the Credit Agreement referred to below).

          WHEREAS, Clarke American Corp., a Delaware corporation and CA

Acquisition Holdings, Inc., a Delaware corporation, have entered into a Credit

Agreement, dated as of December 15, 2005 (as amended, supplemented, replaced or

otherwise modified from time to time, the "Credit Agreement"), with the banks

and other financial institutions and entities from time to time party thereto,

JPMorgan Chase Bank, N.A., as syndication agent, the Administrative Agent, and

Amegy Bank N.A. and Natexis Banques Populaires, as co-documentation agents.

Capitalized terms used and not defined herein have the meanings given such terms

in the Credit Agreement.

          WHEREAS, it is a condition precedent to the obligation of the Lenders

to make their respective extensions of credit to the Borrower under the Credit

Agreement that the Grantors shall have executed and delivered that certain

Guarantee and Collateral Agreement, dated as of December 15, 2005, in favor of

the Administrative Agent (as amended, supplemented, replaced or otherwise

modified from time to time, the "Guarantee and Collateral Agreement").

          WHEREAS, under the terms of the Guarantee and Collateral Agreement,

the Grantors have granted a security interest in certain Property, including,

without limitation, certain Intellectual Property of the Grantors to the

Administrative Agent for the ratable benefit of the Secured Parties, and have

agreed as a condition thereof to execute this Intellectual Property Security

Agreement for recording with the United States Patent and Trademark Office, the

United States Copyright Office, and other applicable Governmental Authorities.

          NOW, THEREFORE, for good and valuable consideration, the receipt and

sufficiency of which are hereby acknowledged, the Grantors agree as follows:

          SECTION 1. Grant of Security. Each Grantor hereby grants to the

Administrative Agent for the ratable benefit of the Secured Parties a security

interest in and to all of such Grantor's right, title and interest in and to the

following (the "Intellectual Property Collateral"), as collateral security for

the prompt and complete payment and performance when due (whether at the stated

maturity, by acceleration or otherwise) of such Grantor's Obligations:

     (a) (i) all trademarks, trade names, company names, business names,

fictitious business names, trade styles, service marks, logos and other source

or business identifiers, and all goodwill associated therewith, now existing or

hereafter adopted or acquired, all registrations and recordings thereof, and all

applications in connection therewith, whether in the United States

Patent and Trademark Office or in any similar office or agency of the United

States, any State thereof or any other country or any political subdivision

thereof, or otherwise, and all common-law rights related thereto, including,

without limitation, any of the foregoing referred to in Schedule 1, and (ii) the

right to obtain all renewals thereof, (ii) the right to sue or otherwise recover

for any and all past, present and future infringements and misappropriations

thereof, (iii) all income, royalties, damages and other payments now and

hereafter due and/or payable with respect thereto (including, without

limitation, payments under all licenses entered into in connection therewith,

and damages and payments for past, present or future infringements thereof), and

(iv) all other rights of any kind whatsoever of such Grantor accruing thereunder

or pertaining thereto, together in each case with the goodwill of the business

connected with the use of, and symbolized by, each of the above (collectively,

the "Trademarks");

     (b) (i) all letters patent of the United States, any other country or any

political subdivision thereof and all reissues and extensions thereof,

including, without limitation, any of the foregoing referred to in Schedule 1,

(ii) all applications for letters patent of the United States or any other

country and all divisions, continuations and continuations-in-part thereof,

including, without limitation, any of the foregoing referred to in Schedule 1,

(iii) the right to sue or otherwise recover for any and all past, present and

future infringements and misappropriations thereof and (iv) all income,

royalties, damages and other payments now and hereafter due and/or payable with

respect thereto (including, without limitation, payments under all licenses

entered into in connection therewith, and damages and payments for past, present

or future infringements thereof) (collectively, the "Patents");

     (c) (i) all copyrights arising under the laws of the United States, any

other country or any political subdivision thereof, whether registered or

unregistered and whether published or unpublished (including, without

limitation, those listed in Schedule 1), all registrations and recordings

thereof, and all applications in connection therewith, including, without

limitation, all registrations, recordings and applications in the United States

Copyright Office, (ii) the right to obtain all renewals thereof, (iii) the

rights to print, publish and distribute any of the foregoing, (iv) the right to

sue or otherwise recover for any and all past, present and future infringements

and misappropriations thereof, (v) all income, royalties, damages and other

payments now and hereafter due and/or payable with respect thereto (including,

without limitation, payments under all licenses entered into in connection

therewith, and damages and payments for past, present or future infringements

thereof) and (vi) all other rights of any kind whatsoever of such Grantor

accruing thereunder or pertaining thereto ("Copyrights");

     (d) (i) all trade secrets and all confidential and proprietary information,

including know-how, manufacturing and production processes and techniques,

inventions, research and development information, technical data, financial,

marketing and business data, pricing and cost information, business and

marketing plans, and customer and supplier lists and information, including,

without limitation, any of the foregoing identified in Schedule 1, (ii) the

right to sue or otherw