Crown Holdings, Inc. Announces Final Results of Concurrent Tender Offers for Any and All Outstanding Notes of Certain Series of Notes Maturing Prior to 2006

Wednesday, March 5, 2003
Investors

PHILADELPHIA, March 5 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (NYSE: CCK), announced today that its wholly owned subsidiary, Crown Cork & Seal Company, Inc., has accepted for purchase and payment, pursuant to its offer to purchase, all of the notes which were validly tendered and not validly withdrawn as of the expiration of the offers at 12:01 a.m., New York City time, on Wednesday, March 5, 2003. A preliminary count by the depositary shows that the following notes were validly tendered and not validly withdrawn as of the expiration of the offers:

    ISSUER  PRINCIPAL TENDERED AND     CUSIP NO.       TENDER     PRINCIPAL
             PURCHASED/NOTE SERIES                      PRICE     REMAINING
    Crown Cork & Seal
     Company,
     Inc.      $144,636,000 6.750%   22825M-AC-9     100.500%   $49,864,000
                         Notes due
                    April 15, 2003

    Crown Cork & Seal
     Finance
     PLC        $81,000,000 6.750%   22825L-AA-8     100.000%  $112,500,000
                         Notes due
                 December 15, 2003

    Crown Cork & Seal
     Finance
     S.A.       $67,829,000 6.750%   22825M-AA-6     100.000%  $116,421,000
                         Notes due
                 December 15, 2003

    Crown Cork & Seal
     Company,
     Inc.       $70,550,000 8.375%   228255-AF-2     100.000%  $121,700,000
                         Notes due
                  January 15, 2005

Salomon Smith Barney Inc. acted as sole Dealer Manager for the tender offers. The Information Agent and Depositary is Mellon Investor Services LLC.

The Company also repurchased euro 145,215,000 of the outstanding 6.000% notes due December 6, 2004 of Crown Cork & Seal Finance S.A. in a privately negotiated transaction.

This press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The tender offers were made only by reference to the Offer to Purchase dated February 4, 2003. Requests for information should be directed to Mellon Investor Services at (800) 903-7594. Questions regarding the tender offers should be directed to Salomon Smith Barney Inc. at (800) 558-3745 or collect at (212) 723-6106.

Cautionary Note

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 are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2001 and in subsequent filings by the Company. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc. 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.

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