AptarGroup Announces Lower Fourth Quarter Guidance.

Business Editors

CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--Jan. 8, 2002

AptarGroup, Inc. (NYSE:ATR) today announced that earnings for the fourth quarter of 2001 are expected to be below initial guidance given in the Company's October 18, 2001, press release. Earnings for the fourth quarter are expected to be in the range of $.26 to $.28 per share, excluding charges related to the previously announced Strategic Initiative. The reduction in forecasted earnings is primarily due to softer than anticipated sales of products sold to the fragrance/cosmetic and personal care markets.

In the October release, the Company indicated that due to volatility in customer order patterns it was difficult to forecast sales for the fourth quarter and that Core Sales (excluding changes in foreign currency exchange rates) could range from the same as the prior year's level to down five percent. The Company also indicated that if Core Sales were flat to down five percent, earnings were expected to be in the range of $.32 to $.38 per diluted share, excluding charges related to the Strategic Initiative. This compares to $.38 per diluted share in the fourth quarter of 2000 after excluding a $.02 per share favorable impact recorded in the fourth quarter of last year relating to the effect of lower tax rates on deferred tax liabilities.

Carl A. Siebel, President and Chief Executive Officer, commented, "We are disappointed in the lowered expected results for the fourth quarter. Core Sales are expected to decline by approximately six percent from the prior year. Our bottom line was negatively affected by a greater than expected drop in sales of products to the fragrance/cosmetic and personal care markets, particularly in the last two months of the quarter. The benefits of our cost saving efforts were not sufficient to prevent the adverse impact on earnings resulting from the decline in sales to these two markets. Looking ahead, we believe in the long-term fundamental strength of our products and the markets we serve. Although we expect softness in demand to continue going into 2002, we expect double digit earnings growth for the full year of 2002 on a comparable basis over 2001."

The Company will hold a conference call on Wednesday, January 9, 2002 at 8:00 a.m. CST to discuss the revised guidance for the quarter. The call will be conducted by Carl A. Siebel and Stephen J. Hagge, Executive Vice President and Chief Financial Officer. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page of the AptarGroup web site at www.aptargroup.com. Replay of the conference call can also be accessed on the Investor Relations page of the web site.

AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the personal care, fragrance/cosmetic, pharmaceutical, household and food/beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America. For more information, visit the AptarGroup web site at www.aptargroup.com.

This press release contains forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on management's beliefs as well as assumptions made by and information currently available to management. Accordingly, the Company's actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist including, but not limited to, those related to overall business conditions in the various markets in which the Company operates, fiscal and monetary policy, the ability to successfully execute the Company's Strategic Initiative, changes in foreign exchange rates, direct or indirect consequences of acts of war or terrorism and other risks and uncertainties discussed from time to time in the Company's filings with the Securities and Exchange Commission, including its Form 10-K's and 10-Q's. Readers are cautioned not to place undue reliance on forward-looking statements.