Sealed Air Corporation Announces Cash Offer for Dolphin Packaging Plc is Now Unconditional

Saddlebrook, New Jersey, UNITED STATES


SADDLE BROOK, N.J., July 19, 2000 (PRIMEZONE) -- Sealed Air Corporation (NYSE:SEE) announced today that it had received valid acceptances of its offer for Dolphin Packaging PLC representing over 96% of the outstanding shares. The Company has accepted all shares tendered, has declared the offer unconditional and expects to complete the transaction in August.

Dolphin is one of the leading U.K. producers of specialty plastic packaging products for modified atmosphere applications, home meal replacement and other centrally prepared fresh foods, and has been Sealed Air's strategic partner in the U.K. for over two years as a supplier of barrier foam trays for the Company's growing case-ready business. The transaction is expected to enhance Sealed Air's opportunity for growth in the rapidly expanding European convenience food, food service and home meal replacement businesses and to strengthen the Company's European case-ready offering.

Sealed Air is a leading global manufacturer of a wide range of food, protective and specialty packaging materials and systems. To view the Company's latest financial news online via the World Wide Web, visit http://www.cfonews.com/see.



        

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