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Pregis Announces Third Quarter 2008 Financial Results
Date:11/13/2008

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Additional paid-in capital 150,337 149,659

Accumulated deficit (37,391) (16,588)

Accumulated other comprehensive

income 18,644 20,586

Total stockholder's equity 131,590 153,657

Total liabilities and stockholder's

equity $824,363 $855,319

Pregis Holding II Corporation

Consolidated Statements of Operations

Unaudited

(dollars in thousands)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Net sales $265,188 $245,163 $799,726 $725,710

Operating costs and expenses:

Cost of sales, excluding

depreciation and

amortization 205,673 188,426 624,443 547,258

Selling, general and

administrative 31,232 32,793 100,407 97,489

Depreciation and amortization 13,584 14,242 40,734 40,736

Other operating expense

(income), net 4,601 (656) 8,500 (840)

Total operating costs and

expenses 255,090 234,805 774,084 684,643

Operating income 10,098 10,358 25,642 41,067

Interest expense 13,392 11,656 37,293 34,777

Interest income (92) (465) (518) (897)

Foreign exchange loss (gain),

net 9,562 (1,805) 6,641 (3,527)

Income (loss) before income

taxes
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SOURCE Pregis Corporation
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