Crown Cork & Seal Extends Term Loan

Wednesday, January 30, 2002

PHILADELPHIA, Jan. 30 /PRNewswire-FirstCall/ -- Crown Cork & Seal Company, Inc. (NYSE: CCK) announced that it has secured an agreement from its lenders to extend $225 million of its $400 million term loan, originally due February 4, 2002 to August 4, 2002.

Alan W. Rutherford, Vice Chairman and Chief Financial Officer commented, "The Company is expecting improving fundamentals in the packaging sector in 2002 and the extension of a portion of the term loan will provide additional flexibility to finance the working capital requirements during the season."

Crown Cork & Seal is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.

SOURCE Crown Cork & Seal Company, Inc.
Web site:
CONTACT: Timothy J. Donahue, Senior Vice President - Finance of Crown Cork & Seal, +1-215-698-5100, or Ed Bisno of Edelman Financial, +1-212-704-8212, for Crown Cork & Seal