U.S. Can Acquires European Packaging Company

Oak Brook, Ill. (PROTEXT) - U.S. Can Corporation (NYSE: USC)announced today the signing of a definitive agreement to purchaseMay Verpackungen, a subsidiary of May Holding Group. May,headquartered in Erftstadt, Germany, is a leading manufacturer ofpet food and specialty food packaging as well as aerosol cans,primarily dedicated to whipping cream. May's sales for the 12 months ended September 30, 1999 wereover DM 300 million or approximately $160 million. Details of theacquisition were not disclosed. "We are extremely pleased to add this highly successfulbusiness to the U.S. Can family," said Chairman and CEO Paul W.Jones. "The addition of May allows us to more than double ourpresence in the European market where we already have a strong,growing business. Its aerosol operations in Germany will becomplementary to our already strong aerosol production in therest of Europe, and its strength in the pet food business, withits easy-open can, will allow us to expand our product offering." The May acquisition supports U.S. Can's stated acquisitionstrategy of seeking rigid packaging companies that willcomplement and grow the company's existing product base, beaccretive in the first year with positive cash flowcharacteristics and create value for shareholders. May Verpackungen has manufacturing facilities in Germany andDenmark, as well as a 50% share of a Spanish packaging company. "In addition to its strength in the important Germanmarketplace, May also brings us outstanding manufacturingfacilities with state-of-the-art, high speed equipment and highlytrained employees," Jones added. "With its reputation foroutstanding quality and its strong customer relationships, I amconfident that May and U.S. Can will forge a strong partnershipgoing forward." May will be operationally combined with U.S. Can's USC-Europeoperations led by David Ford, president of USC Europe. Prior tojoining U.S. Can in 1997, Ford managed a European food canbusiness with over $600 million in sales. Jurgen May, currentlyCEO of May, will continue to be actively involved in theoperation of May Verpackungen and will also expand into otherroles with USC-Europe. U.S. Can Corporation is a leading manufacturer of steelcontainers for personal care, household, automotive, paint andindustrial products in the United States and Europe, as well asplastic containers in the United States. ots Original TextService: U.S. Can Corporation Internet: http://www.newsaktuell.deContact: John L. Workman, Chief Financial Officer of U.S. CanCorporation (USA) 630-571-2530 Web site: http://www.uscanco.com

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