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Pregis Announces Third Quarter 2008 Financial Results

ntial," "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 filings with the Securities & Exchange Commission, including the Company's annual report on Form 10-K and quarterly reports on Form 10-Q. 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, except shares and per share data)

September 30, 2008 December 31, 2007

Assets (Unaudited)

Current assets

Cash and cash equivalents $30,038 $34,989

Accounts receivable

Trade, net of allowances of

$5,366 and $5,313, respectively 157,467 148,045

Other 12,756 18,532

Inventories, net 114,546 108,914

Deferred income taxes 2,971 2,991

Due from Pactiv 607 7,072

Prepayments and other current


SOURCE Pregis Corporation
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