First Atlantic Capital Acquires Majority Interest in Captive Plastics; Acquisition Adds Leading Plastics Manufacturer to Robust Portfolio of Companies.

NEW YORK -- First Atlantic Capital, Ltd., a private investment firm specializing in acquiring and growing mid-size companies, today announced that it has acquired Captive Plastics, Inc. ("Captive"), a leading manufacturer of blow-molded plastic bottles and closures. The purchase price was not disclosed.

Captive's experienced senior management team will continue to lead the Company. In connection with the acquisition, John Dezio, Captive's President & Chief Operating Officer, has been named Chief Executive Officer. The Company's current Chairman & Chief Executive Officer, John Raymonds, will maintain a substantial ownership position and serve on the Company's Board of Directors. Members of Captive's senior management team will also hold an equity interest in the Company.

First Atlantic acquired the majority interest in Captive through its most recent private equity fund, Atlantic Equity Partners III, L.P. ("AEP III"). The acquisition represents the seventh investment by AEP III.

Founded in 1969 and headquartered in Piscataway, New Jersey, Captive offers its customers a wide range of fully integrated, rigid plastic packaging products and solutions from engineering, design and mold construction to nationwide production, decorating, assembly and filling. Captive's products are mainly marketed to four business segments: Personal Care, Food, Spirits and Health Care. The Company operates seven manufacturing plants throughout the country.

"We are delighted to be making a controlling investment with an experienced management team in a company with such a premier market position in plastic packaging," said Roberto Buaron, Chairman and Chief Executive Officer of First Atlantic Capital. "We plan to add to the value of Captive through continued investment in the business and strategic acquisitions. Captive Plastics fits perfectly with our approach, and, just as we successfully accomplished with Berry Plastics, we intend to capitalize on Captive's many assets as we expand the business both domestically and internationally."

"First Atlantic has a strong history of operating and growing companies in the plastics and packaging industries," said John Dezio. "We are excited to have them as a partner, and are confident they can provide the experience and capital necessary for Captive to achieve its expansion goals in the coming years."

Ernst & Young Corporate Finance, LLC served as exclusive financial advisor to Captive. Graham, Curtin & Sheridan, P.A. served as legal advisor to Captive.

Kirkland & Ellis LLP served as legal advisor to First Atlantic.

Captive Plastics, Inc., is a leading manufacturer of plastic packaging for the Personal Care, Health Care, Food and Spirits markets. Captive Plastics provides customers with "one stop shopping" through its capability to produce plastic bottles as well as closures nationwide. In addition to blow molding and injection molding, Captive Plastics offers in-house services such as design, engineering, tooling, decorating and assembly of products. Headquartered in Piscataway, NJ, the company has manufacturing plants in Phillipsburg, NJ, Peosta, IA, Louisville, KY, Edinburgh, IN, Phoenix, AZ and Redlands, CA in addition to the Piscataway production facility. For additional information, please visit www.captiveplastics.com.

First Atlantic Capital, Ltd. is a New York City-based private equity investment firm specializing in acquiring and growing both private and publicly owned middle-market companies, as well as subsidiaries and divisions of large corporations. Since inception in 1989, First Atlantic has consistently generated superior long-term investment returns for its investors and management partners. First Atlantic has major investments in the packaging, food and beverage, retail, and specialty vehicle parts industries. For additional information, please visit www.firstatlanticcapital.com.