Edward A. Lapekas Named Chairman and Chief Executive Officer of NEXPAK, Inc.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 5, 2002

Palladium Equity Partners, LLC, a leading private equity firm, announced today that Edward A. Lapekas has been named Chairman and Chief Executive Officer of NEXPAK, Inc., the market leader in the manufacturing and supply of standard and custom packaging for DVD, CD, video, audio, and professional media formats. Mr. Lapekas will begin his duties at NEXPAK on November 11, 2002.

"We are very pleased that Ed Lapekas will be joining NEXPAK as Chairman and Chief Executive Officer," said Christy S. Sadler, a Member of Palladium Equity Partners. "Ed brings over three decades of leadership experience in the packaging industry to his role as chief executive, having led packaging operations for Continental Can, Continental Can (Europe), and American National Can Company. His assignments have included positions in sales, marketing, strategic planning and business development, as well as longstanding service as a senior manager. Ed has wide experience with the manufacture of a variety of packaging products, including beverage can, food packaging and packaging for the chemical and household consumer goods markets. His expertise and perspective will be of great benefit to NEXPAK, and we look forward to his leadership," said Mr. Sadler.

"I also would like to thank Jim Sankey for his service as our interim Chief Executive Officer," Mr. Sadler continued. "Jim did much during a short time to successfully manage a number of business challenges. He leaves the role of CEO having substantially reinforced NEXPAK's market leadership. Jim has the well-earned thanks of our entire board, and we are pleased that he will continue his long-standing role as a board member."

Mr. Lapekas, 59, joins NEXPAK after a career spanning over 30 years in the packaging industry, having managed metal can, PET, closures and diversified plastics operations. From 2000 to 2001, Mr. Lapekas served as Chairman and CEO of Packtion, an online solution provider for the global packaging industry. Prior to that, he served as Chairman and CEO of the American National Can Group in Chicago. He joined American National Can in 1996 as Senior Executive Vice President and Chief Operating Officer, Beverage Worldwide, a $2.5 billion business with 45 plants. As Chief Operating Officer, he successfully led a turnaround by establishing a new global manufacturing culture through a disciplined benchmarking and technical limits approach.

From 1991 to 1996, Mr. Lapekas served as Vice Chairman of Schmalbach-Lubeca A.G. (Continental Can Europe, a division of VIAG AG) in Braunschweig, Germany. As Vice Chairman, Mr. Lapekas was responsible for the firm's beverage can, PET packaging and diversified plastics packaging units, leading the growth of each unit. He began his career in 1968 at Continental Can Company, Inc. in Chicago, serving in various sales, marketing, and strategic planning posts before being named General Manager of International Operations for White Cap Closures in 1983. In 1986, Mr. Lapekas was named Vice President and Managing Director of Continental Can, London. From 1998 through 1991, he served as President, European Operations, for Continental Can Europe with responsibility for beverage can, PET plastic bottles, diversified plastics and metal closures.

Headquartered in Canton, Ohio, NEXPAK is the market leader in the manufacture of standard and custom media packaging for DVD, CD, video, audio, and professional formats with revenues of over $250 million. As a full-service solutions provider, NEXPAK offers comprehensive product development including 3D modeling, prototyping, and state-of-the-art production capabilities. Utilizing highly automated and streamlined manufacturing processes, NEXPAK provides just-in-time delivery for optimal inventory planning and control. NEXPAK is the premier supplier to entertainment studios, replicators, retailers, video rental outlets, OEMs and content providers. The company employs over 1,200 people and six manufacturing plants in the United States and Europe.

NEXPAK was created in 1999 by Palladium Equity Partners, L.L.C. Palladium, based in New York, is a private investment firm founded on the premise that superior financial returns require the combination of skilled operating and financial executives. Palladium focuses on companies in basic industries that can benefit from its capital and operating experience. Formed in 1997, Palladium brings together seasoned professionals who collectively have invested nearly $800 million of equity capital in 25 companies and operating executives with significant experience managing Fortune 500 companies.

--30--JP/ny csm

    CONTACT: Kekst and Company for Palladium
             David Lilly, 212/521-4800

    KEYWORD: NEW YORK
    INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS MANAGEMENT
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    SOURCE: Palladium Equity Partners, LLC