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."