Graphic Packaging and Altivity Merge

Daniel J. Blount, senior vice president and chief financial officer of Graphic Packaging, said, “We expect the combined companies to generate substantial cash flow to accelerate debt reduction, improve leverage ratios, finance ongoing investment and fund growth initiatives. The transaction is anticipated to be accretive to earnings per share and free cash flow by 2008. Both companies have proven track records in merger integration, cost reduction and synergy attainment, and demonstrated ongoing productivity and quality programs. This transaction presents an attractive opportunity on all fronts.”