BPI Packaging Technologies Inc. announces reduction in exercise price for Class B Redeemable Common Stock Purchase Warrants.

N. DIGHTON, Mass.--(BUSINESS WIRE)--Sept. 30, 1996--BPI Packaging Technologies Inc. ("BPI") (NASDAQ NMS: "BPIE" (Common Stock), BPIEZ (B-Warrants)), today announced that the exercise price for the company's publicly traded Class B Common Stock Purchase Warrants ("Class B Warrants") has been reduced from $8.04 per Class B Warrant to $2.80 per Class B Warrant commencing on Sept. 30, 1996 through 5:00 p.m. (EST) on Oct. 7, 1996, which is the expiration date of the Class B Warrants. Each Class B Warrant entitles the holder thereof to purchase 1.12 shares of Common Stock. (The purchase price per share of Common Stock, upon the exercise of each Class B Warrant, is $2.50 calculated as follows: Exercise price of each Class B Warrant $2.80 divided by 1.12 shares of Common Stock per Class B Warrant equals $2.50). As of Sept. 19, 1996, the number of outstanding Class B Warrants was 1,526,000.

BPI Packaging Technologies Inc., is a leading manufacturer of traditional plastic grocery carryout bags, referred to as t-shirt sacks, proprietary t-shirt bags and plastic film products, and proprietary in-store advertising and promotion products.

CONTACT: BPI Packaging Technologies Inc., N. Dighton

Dennis N. Caulfield, 508/824-8636

or

Tower Research Associates, Cleveland

Arthur Stupay, 216/861-4816