Owens-Brockway Glass Container Inc. Announces Results to Date 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. , today announced that, as of 5:00 p.m., New York City time, on Friday, June 23, 2006 (the "Early Tender Date"), a total of approximately $826.9 million in aggregate principal amount of its 8-7/8% Senior Secured Notes due 2009 (the "Notes") have been tendered pursuant to its tender offer for up to $100 million principal amount of Notes.Based on the results to date, the amount of Notes that will be purchased will be prorated based on the aggregate principal amount of Notes validly tendered in the tender offer.Holders who validly tendered their Notes prior to 5:00 p.m., New York City time, on Friday, June 23, 2006, unless extended or earlier terminated, will be entitled to receive $1,040, payable in cash, for each $1,000 principal amount of Notes accepted for payment, which amount includes an early tender payment of $30 per $1,000 of Notes accepted for payment.

Holders who validly tender their Notes after such time but prior to the Expiration Date (defined below) will receive $1,010 per $1,000 principal amount of Notes accepted for purchase. Accrued and unpaid interest up to, but not including, the settlement date will be paid in cash on all validly tendered and accepted Notes. The settlement date will be promptly after the Expiration Date and is expected to be on or about July 12, 2006.

The tender offer will expire at 5:00 p.m., New York City time, on Tuesday, July 11, 2006, unless extended or earlier terminated by Owens-Brockway Glass Container Inc. (the "Expiration Date"). Withdrawal rights with respect to tendered Notes have expired. Accordingly, holders may not withdraw any Notes previously or hereafter tendered, except as contemplated in the offer.

Notwithstanding any other provision of the offer, Owens-Brockway Glass Container Inc.'s obligation to accept for purchase, and to pay for, securities validly tendered pursuant to the offer is conditioned upon satisfaction or waiver of the conditions set forth in the offer, including the availability of sufficient funds under the new credit facility to pay the consideration described above. Owens-Brockway Glass Container Inc., in its sole discretion, may waive any of the conditions of the offer in whole or in part, at any time or from time to time.

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600450 Owens-Brockway Glass Container Inc. Announces Results to Date of its Partial Tender Offer for its 8-7/8% Senior Secured Notes Due 2009 glassonweb.com
Date: 27 June 2006
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