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2007-07-06 News Release

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Ad Hoc: Constantia Packaging biz acquisitions update

Constantia Packaging AG increases its share and signs purchase agreement to acquire a majority interest in Austria Metall AG.

Since May 2004, Constantia Packaging AG, Vienna, has owned a 25% + 1 share equity interest in Austria Metall AG, Ranshofen (AMAG). In August 2006, Constantia Packaging AG began negotiations with Klaus Hammerer GmbH to acquire its 40% stake in AMAG, and thereby gain a majority interest.

Implementing a framework agreement signed March 23, 2007, Constantia Packaging AG today signed a share purchase agreement to acquire all AMAG shares held by Klaus Hammerer GmbH and a concurrent agreement to transfer AMAG's extrusion business to the Hammerer family by a de-merger of AMAG.

Also today, Constantia Packaging AG signed a share purchase agreement with the AMAG employee trust (AMAG Arbeitnehmer Privatstiftung) to acquire an additional 12.06% stake in AMAG. These agreements result in the following new ownership structure for AMAG: Constantia Packaging AG 73.45%; Constantia Packaging B.V., Netherlands, 16.55%; AMAG Arbeitnehmer Privatstiftung 10%.

The closing date of the transactions and in particular the approval of the antitrust authorities are expected in the second half of 2007.

Constantia Packaging AG will indirectly acquire a 12.83% stake (2,156,000 shares) in treasury shares currently held by AMAG. For now, no decision has been made on the use of these shares.

AMAG is Austria's leading manufacturer of cast and semi-finished aluminum products for the processing industry. In 2006, the company (excluding the extrusion business) had sales of approximately €830 million and some 1,300 employees.

Constantia Packaging Group now has activities in the Aluminum, Flexible Packaging and Corrugated Board segments. With approximately 8,500 employees (including AMAG) in 19 countries in Europe, Asia and North America, the Group manufactures aluminum, plastic and corrugated board packaging for the food, beverage, pharmaceutical and automotive industries, among others. Projected sales in 2008 (including AMAG) will exceed €2 billion.

Read a recent press release about - Supplier Quality Management committee of Hormel Foods recognizes consistent metal packaging services and much more from CROWN Closures Americas.

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