Checkpoint Systems Announces Registration Of 5-1/4% Convertible Subordinated Debentures Due 2005.

Business Editors

THOROFARE, N.J.--(BUSINESS WIRE)--Sept. 18, 2001

Checkpoint Systems, Inc. (NYSE: CKP) announced today that on August 27, 2001 it registered its $120,000,000 5-1/4% convertible subordinated debentures due 2005 with the United States Securities and Exchange Commission on Form 8-A.

The Company is in the process of filing its listing application for the debentures on the New York Stock Exchange.

On October 24, 1995, Checkpoint Systems, Inc. issued $120,000,000 in face amount of 5-1/4% convertible subordinated securities pursuant to an Indenture ("Original Indenture") between the Company and The Chase Manhattan Bank, as trustee. The securities were issued in two separate components as follows: (i) $47,160,000 in face amount pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the "Act") and $90,000 in face amount pursuant to Regulation D under the Act (collectively, the "Rule 144A Securities"), and (ii) $72,750,000 in face amount pursuant to Regulation S under the Act (the "Regulation S Securities"). The Original Indenture was amended by a First Supplemental Indenture between the Company and the Trustee dated February 27, 1998 for the purposes of reducing the applicable holding period to two (2) years from three (3) years. Since the applicable holding period for the Rule 144A Securities has run, the Rule 144A Securities are freely tradeable without restriction and, upon acceptance of the Company's listing application referenced above, will be listed on the New York Stock Exchange.

A Second Supplemental Indenture between the Company and The Chase Manhattan Bank, as trustee, dated July 31, 2001 has been entered into to permit holders of Regulation S Securities in registered form only to exchange such securities for Rule 144A Securities bearing CUSIP number 162825 AB 9. This exchange is designed to remove any potential reduction of marketability for the Regulation S Securities due to the fact that such securities were issued under Regulation S.

In order to effect the foregoing exchange, holders of beneficial interests in the Regulation S Securities are required to follow the applicable procedures of The Depository Trust Company ("DTC") with regard to such sale or transfer. Upon consummation of such exchange, the holders of Regulation S Securities will receive a copy of the Prospectus covering such Rule 144A Securities or positions.

Holders of beneficial interests in Regulation S Securities in bearer form may exchange such bearer debentures for an equal principal amount of registered debentures in accordance with the Indenture, as amended, and, thereafter, exchange such registered Regulation S Securities for Rule 144A Securities in accordance herewith.

For further information, contact Neil D. Austin, Vice President, General Counsel and Secretary, at telephone number [phone] or you may contact the Trustee, The Chase Manhattan Bank, at telephone number [phone].

Checkpoint Systems, Inc. is a multinational company that manufactures and markets labeling systems designed to improve efficiency, reduce costs and provide value-added label solutions for customers across many markets and industries. Checkpoint is a leading provider of EAS and RFID systems, source tagging, barcode labeling systems, hand-held labeling systems, and retail merchandising systems. Applications include automatic identification, retail security and pricing and promotional labels. Operating directly in 30 countries, Checkpoint has a global network of subsidiaries and provides professional customer service and technical support around the world. Checkpoint Systems, Inc.'s web site is located at www.checkpointsystems.com.

Safe Harbor Statement

This presentation may include information that could constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements may involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include those matters disclosed in the Company's Security and Exchange Commission filings.