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Pregis Announces Fouth Quarter and Full Year 2007 Financial Results

such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," "should," or "will," or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. For a discussion of key risk factors, please see the risk factors disclosed in the Company's annual report, which is available on its website, These risks may cause actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Given these risk and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no duty to update its forward-looking statements.

Pregis Holding II Corporation

Consolidated Balance Sheets


(dollars in thousands)

December 31,

2007 2006 Assets Current assets

Cash and cash

equivalents $34,989 $45,667

Accounts receivable

Trade, net of

allowances of $5,313

and $4,055,

respectively 148,045 142,472

Other 18,532 2,535

Inventories, net 108,914 92,196

Deferred income taxes 2,991 3,951

Due from Pactiv 7,072

SOURCE Pregis Corporation
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