Pregis Announces Redemption of Euro 200 Million of Senior Secured Floating Rate Notes Due 2013

DEERFIELD, Ill., Feb. 24, 2012 /PRNewswire/ -- Pregis Corporation (the "Company"), a leading international manufacturer, marketer and supplier of protective packaging solutions, announced today that it has completed the redemption of euro 200 million out of euro 225 million of the Company's outstanding Senior Secured Floating Rate Notes due 2013.  In particular, the Company redeemed euro 88,889,000 of the Senior Secured Floating Rate Notes due 2013 issued in 2005 (ISIN XS0304937534) and euro 111,111,000 of the Company's Senior Secured Floating Rate Notes due 2013 issued in October 2009 (ISIN XS0466650669), in each case plus accrued interest through the date of redemption.

About Pregis:
Pregis Corporation is a leading global provider of innovative protective packaging materials and systems. The Company offers solutions for a wide variety of retail and industrial market segments including agricultural, e-commerce, automotive, furniture, electronics, construction, and military/aerospace. Pregis currently operates 25 facilities in 10 countries in North America and Europe. 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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