Chesapeake Completes Acquisition of Green Printing Company.

Business Editors

RICHMOND, Va.--(BUSINESS WIRE)--March 14, 2000

Chesapeake Corporation (NYSE: CSK) today announced the acquisition of Green Printing Company, Inc., a specialty packaging producer and printer in Lexington, North Carolina.

Green Printing offers high-end, lithographic printed folding cartons, specialty packaging, sales and promotional materials, and technical publications to many Fortune 500 companies in the computer, financial and textile market sectors. It also provides its customers with state-of-the-art, pre-press and design operations, leaflet and bindery capabilities as well as fulfillment and assembly services.

The addition of Green Printing begins to establish Chesapeake's North American platform for a carton-based specialty packaging business, similar to its European operations. Green Printing also complements Chesapeake's display subsidiary, Chesapeake Display & Packaging (CD&P), which provides an array of merchandising services including fulfillment and assembly.

Chesapeake President and Chief Executive Officer, Thomas H. Johnson, said, "We are pleased that we have been able to quickly complete the acquisition of Green Printing. It is an excellent fit with Chesapeake. Green's reputation for quality, a strong management team, and a complementary customer base make it an attractive addition to Chesapeake's portfolio. We are very pleased that Leonard Beck, President, and his management team will continue to lead the business."

Zeb Green, Chairman of the Board and Chief Executive Officer for Green Printing, said, "We have done business with Chesapeake for many years and I am delighted that Green Printing will be part of the Chesapeake organization. I believe, under the Chesapeake leadership, our employees, customers and community will benefit."

Chesapeake Corporation, headquartered in Richmond, Va., is a global leader in specialty packaging and merchandising services. Chesapeake is the largest North American producer of temporary and permanent point-of-purchase displays, the leading European folding carton, leaflet and label supplier, and a local leader in specific U.S. markets for customized, corrugated packaging. Chesapeake has over 70 locations in North America, Europe, Africa and Asia. Chesapeake's net sales in 1999 were $1.2 billion. Chesapeake's website is http://www.cskcorp.com .

This news release, including comments by Thomas H. Johnson, contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The accuracy of such statements is subject to a number of risks, uncertainties, and assumptions that may cause Chesapeake's actual results to differ materially from those expressed in the forward-looking statements including, but not limited to: competitive products and pricing; production costs, particularly for raw materials such as waste paper and corrugated box and display materials; fluctuations in demand; government policies and regulations affecting the environment; interest rates; currency translation movements; and other risks that are detailed from time to time in reports filed by the Company with the Securities and Exchange Commission.