Owens-Brockway Glass Container Inc. Announces Completion of Its Partial Tender Offer for Its 8-7/8 % Senior Secured Notes Due 2009

Owens-Brockway Glass Container Inc., an indirect wholly owned subsidiary of Owens-Illinois, Inc. (NYSE: OI - News), today announced that it has successfully completed its partial tender offer for its 8-7/8 % Senior Secured Notes due 2009 (the "Notes").

As of 5:00 p.m., New York City time, on July 11, 2006, holders of Notes had tendered $827,474,000 in aggregate principal amount of the Notes.Owens- Brockway Glass Container Inc. purchased $100,000,000 principal amount of the Notes, or 12.1% of the aggregate principal amount of Notes tendered, for a total price of $103,998,110, including $3,998,110 of premiums, subject to the terms and conditions of the tender offer. Owens-Brockway Glass Container Inc. has also paid accrued and unpaid interest on all Notes accepted for purchase up to, but not including, today, the settlement date.

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600450 Owens-Brockway Glass Container Inc. Announces Completion of Its Partial Tender Offer for Its 8-7/8 % Senior Secured Notes Due 2009 glassonweb.com

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