Owens-Illinois Completes Key Step in the Acquisition of BSN Glasspack

Owens-Illinois, Inc. announced that it has entered into a definitive agreement to acquire BSN Glasspack, S.

A., the second largest glass container manufacturer in Europe.Closing of the transaction is subject to the parties securing all necessary regulatory approvals and is expected to occur in the second quarter of 2004.The proposed acquisition was originally announced on Feb. 18 with total consideration of approximately 1,160 million euros (US$1,460 million)(a) in cash, including the assumption of debt.BSN is owned by Glasspack Participations, a company controlled by investment funds advised by CVC Capital Partners.

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