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BALL CORPORATION SPIN-OFF RECEIVES IRS TAX-FREE STATUS APPROVAL

 MUNCIE, Ind., Feb. 8 /PRNewswire/ -- Ball Corporation (NYSE: BLL) today said the Internal Revenue Service has issued a ruling that Ball's planned spin-off of Alltrista Corporation will be a tax-free transaction for Ball and its shareholders.
 D.A. Davis, Ball's president and chief executive officer, said notification came late Thursday. "We've thus moved a step closer to creation of Alltrista as an independent publicly traded company," Davis said. "We expect the spin-off to occur shortly after completion of the acquisition of Heekin Can, Inc., and completion of certain agreements, financing arrangements and other matters necessary to effect the spin- off, including final approval of the transaction by the Ball Corporation board."
 Ball Corporation manufactures metal and glass containers for the beverage and food industries and provides aerospace systems and professional services to government and commercial customers. The businesses to be spun off include the company's consumer products division, three plastics operations, its zinc products, industrial systems and metal decorating and service divisions. These businesses are located in Birmingham, Ala.; Fort Smith, Ark.; Chicago; Muncie, Ind.; Baltimore, Md.; Akron, Ohio; Milroy, Pa.; Greenville, S.C.; Greeneville, Tenn.; and Arecibo, P.R.
 -0- 2/8/93
 /CONTACT: Larry Miller, 317-747-6170 or 317-286-5856 after hours; or Brad Wilks, 317-747-6165 or 317-282-6198 after hours; both of Ball Corporation/
 (BLL)


CO: Ball Corporation ST: Indiana IN: PAP ARO SU:

KK -- CL004 -- 3985 02/08/93 10:17 EST
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Date:Feb 8, 1993
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