Crown Holdings Announces Tender Offer for Certain Notes Maturing in 2006

PHILADELPHIA, Nov. 11 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (NYSE: CCK) announced today that its wholly-owned subsidiary, Crown Cork & Seal Company, Inc., will commence a cash tender offer for up to $110 million aggregate principal amount of outstanding 7.00% Notes due December 15, 2006 of Crown Cork & Seal Finance PLC, of which $268,604,000 aggregate principal amount is outstanding, at a purchase price of $1,050 per $1,000 principal amount. Holders whose notes are accepted for purchase will also receive accrued and unpaid interest thereon to, but not including, the date of purchase.

The tender offer will commence on Thursday, November 11, 2004 and will expire at 5 p.m., New York City time, on Monday, December 13, 2004 (the "Initial Expiration Date"), unless extended. Tendered notes may be withdrawn at any time prior to the Initial Expiration Date, but not thereafter. Consummation of the tender offer is subject to the satisfaction or waiver of various conditions.

The Depositary is Wells Fargo Bank, N.A. and the Information Agent is D.F. King & Co., Inc.

This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offer is made only by reference to the Offer to Purchase dated November 11, 2004. Requests for information and questions regarding the tender offer should be directed to D.F. King & Co., Inc. at (800) 735-3107.

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 offer is 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 offer 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, 2003 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.

SOURCE  Crown Holdings, Inc.
    -0-                             11/11/2004
    /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.; Crown Cork & Seal Company, Inc.; Crown Cork & Seal
     Finance PLC; Wells Fargo Bank, N.A.; D.F. King & Co., Inc.
ST:  Pennsylvania
IN:  ENV FOD FIN
SU:  TNM

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