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Pregis Announces Second Quarter 2009 Financial Results
Date:8/13/2009

------- ------- Pregis Holding II Corporation Supplemental Information (Unaudited) Calculation of Adjusted EBITDA ("Consolidated Cash Flow") Three Months Ended June 30, (unaudited) --------------- (dollars in thousands) 2009 2008 ---- ---- Net income (loss) of Pregis Holding II Corporation $3,063 $(5,569) Interest expense, net of interest income 9,387 11,622 Income tax expense 2,167 1,121 Depreciation and amortization 11,305 13,610 ------ ------ EBITDA 25,922 20,784 Other non-cash charges (income): Unrealized foreign currency transaction losses (gains), net (8,159) (459) Non-cash stock based compensation expense 301 250 Non-cash asset impairment charge (253) - Other non-cash expenses, primarily fixed asset disposals and write-offs - 1,117 Net unusual or nonrecurring gains or losses: Restructuring, severance and related expenses 5,614 - Nonrecurring charges related to acquisitions and dispositions - 467 Other, principally executive management severance and recruiting expenses 164 2,821 Other adjustments: Amounts p
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