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Pregis Announces Extension of Exchange Offer

Thursday, March 4, 2010 Corporate News J E 4
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DEERFIELD, Ill., March 3 Pregis Corporation, a leading international manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, today announced the extension of its offer to exchange up to euro 125 million of its Second Priority Senior Secured Floating Rate Notes due 2013 issued in a private placement on October 5, 2009 for an equal principal amount of Second Priority Senior Secured Floating Rate Notes due 2013 that have been registered under the Securities Act of 1933, as amended. The exchange offer is now scheduled to expire at 12:00 a.m. (midnight), Eastern Time, on March 4, 2010, unless further extended by Pregis. As of 5:00 p.m., Eastern Time, on March 2, 2010, approximately euro 119.8 million of the outstanding Second Priority Senior Secured Floating Rate Notes had been tendered in the exchange offer.

Requests for a prospectus and a letter of transmittal in connection with the exchange offer should be directed to the exchange agent, The Bank of New York Mellon Trust Company, N.A., at +44 207 964 4958. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes, nor shall there be any offer or sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Pregis:

Pregis Corporation is a leading global provider of innovative protective, flexible, and foodservice packaging and hospital supply products. The specialty-packaging leader currently operates 46 facilities in 18 countries around the world. Pregis Corporation is a wholly owned subsidiary of Pregis Holding II Corporation. For more information about Pregis, visit the Company's web site at www.pregis.com.

Safe Harbor Statement:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. You can generally identify forward-looking statements by the Company's use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. For a discussion of key risk factors, please see the risk factors disclosed in the Company's annual report, which is available on its website, www.pregis.com. These risks may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risk and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no duty to update its forward-looking statements.

SOURCE Pregis Corporation
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