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Berry Plastics Receives Consents From Holders of a Majority of the Aggregate Outstanding 12 1/2% Senior Secured Notes Due 2006, 12 1/4% Senior Subordinated Notes Due 2004, 12 1/4% Series B Senior Subordinated Notes Due 2004, and 11% Senior Subordinated No.


Business Editors

And Extends the Expiration Time Expiration time

The time of day by which all exercise notices must be received on the expiration date. Technically, the expiration time is currently 11:59AM on the expiration date, but public holders of option contracts must indicate their desire to exercise no later than 5:30PM on
 for the Offers and Solicitations With

Respect to the 12 1/2% Senior Secured Notes Due 2006, 12 1/4% Senior

Subordinated Notes Due 2004, 12 1/4% Series B Senior Subordinated

Notes Due 2004, and 11% Senior Subordinated Notes Due 2007

And Announces Total Consideration With Respect to 11% Senior

Subordinated Notes Due 2007

Berry Plastics Berry Plastics a leading maker of injection-molded and thermoformed plastic products for hundreds of products in the following major product areas: open-top containers, closures, drink cups, bottles, tubes, prescription vials, overcaps, and consumer products.  Corporation ("BPC BPC British Potato Council
BPC Brewton-Parker College (Mt Vernon, GA)
BPC Bible Presbyterian Church
BPC Bangladesh Petroleum Corporation (Chittagong, Bangladesh)
BPC British Pharmaceutical Codex
") and its parent company, BPC Holding Corporation ("Holding," and together with BPC, "Berry Plastics"), announced today that they have received valid and unrevoked tenders from registered holders representing at least a majority of the aggregate principal amount of each of the outstanding 12 1/2% Senior Secured Notes issued by Holding and due 2006, CUSIP CUSIP

See: Committee on Uniform Securities Identification Procedures


CUSIP

See Committee on Uniform Securities Identification Procedures.
 No. 055930AB7 (the "12 1/2% Notes"), the outstanding 12 1/4% Senior Subordinated Notes issued by BPC and due 2004, CUSIP No. 085790AA1 (the "12 1/4% Notes"), the outstanding 12 1/4% Series B Senior Subordinated Notes issued by BPC and due 2004, CUSIP No. 085790AF0 (the "12 1/4% Series B Notes"), and the outstanding 11% Senior Subordinated Notes issued by BPC and due 2007, CUSIP No. 085790AE3 (the "11% Notes," and together with the 12 1/2% Notes, the 12 1/4% Notes and the 12 1/4% Series B Notes, the "Notes").

Berry Plastics also announced today that they have received valid and unrevoked consents to certain proposed amendments to the indentures governing the Notes (the "Indentures") as described in the Statements (as defined below) from registered holders representing at least a majority of the aggregate principal amount of the outstanding Notes with respect to each series of Notes. The consents and tenders are being solicited pursuant to concurrent cash tender offers and consent solicitations (the "Offers") which commenced on June 11, 2002 and were made pursuant to four Purchase Offer and Consent Solicitation Statements (collectively, the "Statements") and their related Letters of Transmittal and Consent, each dated June 11, 2002.

Holders of over a majority of the aggregate principal amounts of the outstanding Notes with respect to each series of Notes having delivered valid consents and tendered their Notes, the Consent Condition (as defined in the Statements) has been satisfied. Therefore, the "Consent Payment Deadline" for each of the Offers will occur at 5:00 PM, New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
 time, on Tuesday, June 25, 2002. The Consent Payment Deadline will not be extended. Promptly after the Consent Payment Deadline, Berry Plastics intends to cause the execution of supplemental indentures relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 each series of Notes and reflecting the proposed amendments to the Indentures described in the Statements.

In addition, Berry Plastics announced today that the Expiration Time (as defined in the Statements) for each of the Offers has been extended to 5:00 PM, New York City time, on Wednesday, July 17, 2002. The Offers will expire at the new Expiration Time unless extended to a later date or time or earlier terminated. Holders may tender their Notes and provide consents until the Expiration Time. However, as previously announced, Holders must validly tender their Notes and provide consents (and not withdraw such Notes and consents) prior to the Consent Payment Deadline in order to receive the Consent Payment described in the Statements.

Berry Plastics also announced today the amount of Total Consideration for the 11% Notes (as defined in the relevant Statement). The Total Consideration for the 11% Notes (assuming settlement on July 22, 2002) will equal $1,131.47 per $1,000 principal amount of 11% Notes validly tendered and not revoked (and for which consents to the proposed amendments are given and not revoked) prior to the Consent Payment Deadline and purchased pursuant to the applicable Offer. The Reference Security Yield (as defined in the relevant Statement) in connection with the Total Consideration is equal to 2.125%. The formula for determining the Total Consideration is described in detail in the relevant Statement.

As of 5:00 p.m. on June 24, 2002, the approximate principal amounts of Notes tendered were as follows:

(1) 11% Notes: $74,000,000 (98.67%);

(2) 12 1/4% Notes: $89,133,000 (89.13%);

(3) 12 1/4% Series B Notes: $24,000,000 (96.00%); and

(4) 12 1/2% Notes: $124,310,024 (91.60%).

J.P. Morgan Securities Inc. is the Dealer Manager and Solicitation Agent and MacKenzie Partners, Inc. is the Information Agent in connection with the Offers. Information concerning the Offers (including the consent solicitations) can be obtained from J.P. Morgan Securities Inc. at (800) 245-8812 (toll free) or (212) 270-1100 (call collect) or MacKenzie Partners, Inc. at (800) 322-2885 (toll free) or (212) 929-5500 (call collect).

This announcement is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consents with respect to the Notes. The Offers (including the consent solicitations) are being made solely by the Statements and their related Letters of Transmittal and Consent.

Berry Plastics Corporation is a leading manufacturer and marketer of injection-molded and thermoformed plastic open-top containers, aerosol overcaps, closures, drink cups, and housewares house·wares  
pl.n.
Cooking utensils, dishes, and other small articles used in a household, especially in the kitchen.
. The company is headquartered in Evansville, Indiana
For other places named Evansville see Evansville (disambiguation).


Evansville (IPA: [ˈɛ.vənzˌvɪl]) is the third-largest city in the state of Indiana.
, and, together with its subsidiaries, has plants in Henderson, Nevada Henderson is a city in Clark County, Nevada, United States, seven miles southeast of Las Vegas. As of the 2000 census, the city had a total population of 175,381, with a 2006 Census estimate placing the population at 240,614. ; Iowa Falls, Iowa Iowa Falls is a city in Hardin County, Iowa, United States. Iowa Falls is the home of Ellsworth Community College. It is also a regional transportation center, located along U.S. Highways 20 and 65 and the Canadian National and Union Pacific Railroads. ; Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation).
Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States.
; Lawrence, Kansas Lawrence, Kansas

Union stronghold where Quantrill’s Confederate band killed more than 150 people (1863). [Am. Hist.: EB, VIII: 338]

See : Massacre
; Suffolk, Virginia Suffolk is an independent city located in the South Hampton Roads area of eastern Virginia. Geographically, it is the largest of the Seven Cities of Hampton Roads, and the largest independent city in land-area in the entire Commonwealth. ; Monroeville, Ohio Monroeville is a village in Huron County, Ohio, United States. The population was 1,433 at the 2000 census.

Monroeville High School sports teams are known as the "Eagles". Geography
Monroeville is located at  (41.
; Woodstock, Illinois; Streetsboro, Ohio; Baltimore, Maryland; Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. ; Norwich, England; Milan, Italy and a sales office in Mexico City, Mexico.

Certain statements and information included in this release constitute "forward looking statements" within the meaning of the Federal Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Berry Plastics to be materially different from any future results, performance, or achievements expressed or implied in such forward looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in the companies' SEC filings. The companies do not undertake any obligation to update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jun 24, 2002
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