Alltrista Corporation Comments on Marlin Partners II, L.P. Proposal

Apr 23, 2001, 01:00 ET from Alltrista Corporation

    INDIANAPOLIS, April 23 /PRNewswire Interactive News Release/ -- Alltrista
 Corporation (NYSE:   ALC) confirmed today that Marlin Partners II, L.P., one of
 the parties participating in the Company's strategic option review being
 conducted through Bear Stearns & Co., has made its conditional proposal public
 in a filing with the Securities and Exchange Commission.  Marlin Partners,
 owning a 9.8 percent interest in the Company, previously announced its intent
 to nominate two persons for election to the Company's Board of Directors at
 the Company's 2001 Annual Meeting of Shareholders.
     The Marlin proposal, dated April 16, 2001, contemplates the acquisition of
 all the Company's common stock that Marlin does not already own at $17 per
 share if negotiations were to proceed on a non-exclusive basis or $18 per
 share if the Company agrees to a 45-day exclusive negotiating period and
 related expense reimbursement if the Company terminates negotiations with
 Marlin Partners. The proposal is subject to a number of conditions, including
 obtaining financing, the completion of due diligence and the negotiation of a
 definitive agreement. No financing commitments were presented with the Marlin
 proposal.
     The Company is evaluating the Marlin proposal and those from other
 parties. There can be no assurance that any transaction involving the Company
 will occur.
     Alltrista is a materials-based company. Its plastics operations serve
 numerous fields, including healthcare, consumer, appliance, motor vehicle and
 industrial markets. Through its metals group, Alltrista is the leading
 supplier of home food preservation products, under the Ball(R), Kerr(R) and
 Bernardin(R) brands, and is the country's largest producer of zinc strip and
 fabricated products, including coin blanks for the U.S. and foreign mints.
 Please visit the company's Web site at www.alltrista.com for further
 information.
 
     Note:
     This news release contains forward-looking statements intended to qualify
 for the Safe Harbor from liability established by the Private Securities
 Litigation Reform Act of 1995, including statements regarding the outlook for
 Alltrista's markets and the demand for its products.  These projections and
 statements are based on management's estimates and assumptions with respect to
 future events and financial performance and are believed to be reasonable,
 though are inherently uncertain and difficult to predict.  Actual results
 could differ materially from those projected as a result of certain factors.
 A discussion of factors that could cause results to vary are included in the
 Company's periodic reports filed with the Securities and Exchange Commission,
 including its Form 10-K for the fiscal year ended December 31, 2000.
 
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SOURCE Alltrista Corporation
    INDIANAPOLIS, April 23 /PRNewswire Interactive News Release/ -- Alltrista
 Corporation (NYSE:   ALC) confirmed today that Marlin Partners II, L.P., one of
 the parties participating in the Company's strategic option review being
 conducted through Bear Stearns & Co., has made its conditional proposal public
 in a filing with the Securities and Exchange Commission.  Marlin Partners,
 owning a 9.8 percent interest in the Company, previously announced its intent
 to nominate two persons for election to the Company's Board of Directors at
 the Company's 2001 Annual Meeting of Shareholders.
     The Marlin proposal, dated April 16, 2001, contemplates the acquisition of
 all the Company's common stock that Marlin does not already own at $17 per
 share if negotiations were to proceed on a non-exclusive basis or $18 per
 share if the Company agrees to a 45-day exclusive negotiating period and
 related expense reimbursement if the Company terminates negotiations with
 Marlin Partners. The proposal is subject to a number of conditions, including
 obtaining financing, the completion of due diligence and the negotiation of a
 definitive agreement. No financing commitments were presented with the Marlin
 proposal.
     The Company is evaluating the Marlin proposal and those from other
 parties. There can be no assurance that any transaction involving the Company
 will occur.
     Alltrista is a materials-based company. Its plastics operations serve
 numerous fields, including healthcare, consumer, appliance, motor vehicle and
 industrial markets. Through its metals group, Alltrista is the leading
 supplier of home food preservation products, under the Ball(R), Kerr(R) and
 Bernardin(R) brands, and is the country's largest producer of zinc strip and
 fabricated products, including coin blanks for the U.S. and foreign mints.
 Please visit the company's Web site at www.alltrista.com for further
 information.
 
     Note:
     This news release contains forward-looking statements intended to qualify
 for the Safe Harbor from liability established by the Private Securities
 Litigation Reform Act of 1995, including statements regarding the outlook for
 Alltrista's markets and the demand for its products.  These projections and
 statements are based on management's estimates and assumptions with respect to
 future events and financial performance and are believed to be reasonable,
 though are inherently uncertain and difficult to predict.  Actual results
 could differ materially from those projected as a result of certain factors.
 A discussion of factors that could cause results to vary are included in the
 Company's periodic reports filed with the Securities and Exchange Commission,
 including its Form 10-K for the fiscal year ended December 31, 2000.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X93855218
 
 SOURCE  Alltrista Corporation