Avery Dennison Obtains Clearance From Regulators in Germany for Jackstadt Acquisition; Company Expects to Finalize Transaction During Current Quarter.

Business Editors

PASADENA, Calif.--(BUSINESS WIRE)--May 2, 2002

Avery Dennison Corporation (NYSE:AVY) today announced that the German Federal Cartel Office has issued a ruling clearing Avery Dennison's previously announced acquisition of Jackstadt GmbH.

Avery Dennison is proceeding to complete the transaction, which remains subject to satisfaction of other closing conditions. The Company stated that it expects to finalize the acquisition of Jackstadt during the current quarter.

Avery Dennison announced a definitive agreement to acquire Jackstadt's pressure-sensitive adhesive materials business on September 7, 2001. Jackstadt, based in Wuppertal, Germany, is the world's largest privately-held manufacturer of self-adhesive materials. The company operates 10 manufacturing facilities worldwide, serving customers through subsidiaries in 20 countries.

Avery Dennison is a global leader in pressure-sensitive technology and innovative self-adhesive solutions for consumer products and label materials. Based in Pasadena, Calif., the Company had 2001 sales of $3.8 billion. Avery Dennison develops, manufactures and markets a wide range of products for consumer and industrial markets, including Avery-brand office products, Fasson-brand self-adhesive materials, peel-and-stick postage stamps, reflective highway safety products, automated retail tag and labeling systems, and specialty tapes and chemicals.

Forward-Looking Statements

Certain information presented in this news release may constitute "forward-looking" statements. These statements are subject to certain risks and uncertainties. Actual results and trends may differ materially from historical or expected results depending on a variety of factors, including but not limited to price and availability of raw materials, foreign exchange rates, worldwide and local economic conditions, financial condition and inventory strategies of customers, acceptance of new products, fluctuations in demand affecting sales to customers and other matters referred to in the Company's SEC filings.