Bemis Raises 2Q09 Guidance; Increases Total Year Guidance

NEENAH, Wis.—Bemis Company, Inc. announced that management expects its diluted earnings per share for the second quarter to be approximately $0.47. These results include a $.03 per share charge related to the impact of expensing acquisition related costs in accordance with FAS 141(R). Management’s original guidance for the second quarter was $0.35 to $0.43 per share, and this guidance did not include any FAS 141(R) charges. Results for the second quarter of 2009 benefited from lower raw material costs related to second quarter shipments, as well as the positive impact of cost management initiatives implemented during the fourth quarter of 2008 and the first quarter of 2009.

Updated 2009 Earnings Outlook
Consistent with management’s practice, guidance does not reflect the impact of charges incurred and yet to be incurred in 2009 related to severance, acquisition related costs, and interest expense or shares issued in connection with the proposed acquisition of the Alcan Packaging Food Americas business. Management’s guidance also excludes any operating results of the proposed acquisition. Based upon the strong results for the first half of 2009 and management’s consistent expectations for the remainder of the year, management has revised its guidance upward for the full year 2009 to a range of $1.68 to $1.75 per share. This increases and narrows the range of guidance from management’s previous guidance for 2009 of $1.50 to $1.70 per share.