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Pregis Announces Fourth Quarter and Full Year 2008 Financial Results
Date:3/26/2009

(3,736) - Nonrecurring charges related to acquisitions and dispositions - 5,582 Other unusual and nonrecurring gains or losses 1,283 - Other adjustments: Amounts paid pursuant to management agreement with Sponsor 1,724 1,894 Pro forma earnings and costs savings - 3,547 --- ----- Adjusted EBITDA ("Consolidated Cash Flow") $98,100 $117,750 ------- -------- Note to above: -------------- EBITDA is defined as net income before interest expense, interest income, income tax expense, depreciation and amortization. Adjusted EBITDA, referred to as Consolidated Cash Flow within the context of the Company's indentures, is presented herein because it is a material element of the fixed charge coverage ratio and secured indebtedness leverage ratio included in the Company's indentures. Pregis Holding II Corporation Fourth Quarter and Full Year 2008 Supplemental Information (Unaudited) (Amounts and percentage changes are approximations due to rounding.) Gross Margin Calculations ------------------------- Three Months Ended Year Ended December 31, December 31, ------------ ------------ (dollars in millions) 2008 2007 Change 2008 2007 Change ---- ---- ------ ---- ---- ------ Net sales $219,63
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