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There are myriad reasons to issue a press release. Besides the obvious ones such as introducing a new product, service, or company, you can announce a new ad campaign, personnel changes, and sponsorship of a contest or a charitable affiliation, to name a few. If your company is laying people off or has been named in a lawsuit, you may want to issue a press release for "damage control." A good rule of thumb is this: If it affects people within a community, it is worthy of a press release.