Crown Holdings Announces the Price Determination Date for the Pricing of its Pending Tender Offer for Second and Third Priority Senior Secured Notes Due 2011 and 2013

PHILADELPHIA, Nov. 7 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (NYSE: CCK) announced that today, Monday, November 7, 2005, would be the Price Determination Date (as defined in the Company's Offer to Purchase and Consent Solicitation Statement dated October 18, 2005 (the "Statement")) for the pricing of the previously announced tender offers and consent solicitations for the $1,085,000,000 9.5% Second Priority Senior Secured Notes due March 1, 2011 (CUSIP Nos. 228344AA5, 228344AC1, F2398RAA8) (the "2011 Dollar Denominated Notes"), the euro 285,000,000 10.25% Second Priority Senior Secured Notes due March 1, 2011 (ISIN Nos. XS0163227258, XS0176411584) (the "2011 Euro Denominated Notes") and the $725,000,000 10.875% Third Priority Senior Secured Notes due March 1, 2013 (CUSIP No. 228344AD9) (the "2013 Notes") of Crown European Holdings SA, a subsidiary of the Company (collectively, the "Notes"). Accordingly, the Reference Yield (as defined in the Statement) will be calculated in accordance with standard market practice as of 2:00 p.m. New York City time on that date as displayed on the applicable page of the Bloomberg Government Pricing Monitor or any recognized quotation source.

The tender offers and consent solicitations are subject to the satisfaction or waiver of various conditions, including the receipt of consents from holders of at least 66-2/3% of the aggregate principal amount of the applicable Notes, the execution of a supplemental indenture amending the applicable indenture, the entry into new senior credit facilities and the issuance of new senior unsecured notes on terms satisfactory to the Company as part of the Company's refinancing plan, the consummation of the other tender offers and other customary conditions.

This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offers and consent solicitations are made only pursuant to the Statement and related materials. Requests for information and questions regarding the tender offers and consent solicitations should be directed to Citigroup Corporate and Investment Banking or Lehman Brothers, the dealer managers and solicitation agents, at (800) 558-3745 or (212) 723-6106 or (800) 438-3242, or (212) 528-7581, or D.F. King & Co., Inc., the information agent, at (800) 628-8536.

None of the Company, the dealer managers or the information agent makes any recommendations as to whether or not holders should tender their Notes pursuant to the tender offers and consent solicitations to the proposed amendments to the Notes and the related indentures, and no one has been authorized by any of them to make such recommendations. Holders must make their own decisions as to whether to consent to the proposed amendments to the Notes and the related indentures and to tender Notes, and, if so, the principal amount of Notes to tender.

Cautionary Note Regarding Forward Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release to differ include that the tender offers and consent solicitations and the refinancing plan are subject to a number of conditions and the final terms may vary as a result of market and other conditions. There can be no assurance that the tender offers and consent solicitations or refinancing plan will be completed on the terms described herein or at all. Other important factors are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2004 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc., through its affiliated companies, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.

For more information, contact: Timothy J. Donahue, Senior Vice President - Finance, (215) 698-5088.

SOURCE  Crown Holdings, Inc.
    -0-                             11/07/2005
    /CONTACT:  Timothy J. Donahue, Senior Vice President - Finance of Crown
Holdings, +1-215-698-5088/
    /Web site:  http://www.crowncork.com /
    (CCK)

CO:  Crown Holdings, Inc.
ST:  Pennsylvania
IN:  ENV FOD
SU:  TNM

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