Ball Corporation Announces Extension of Consent Solicitation and Increase in Consent Payment

BROOMFIELD, Colo., Sept. 24 /PRNewswire-FirstCall/ -- Ball Corporation (NYSE: BLL) today announced that it has extended its previously announced solicitation of consents, commenced Sept. 3, 2008, from the holders of its 6 7/8 percent senior notes due 2012 to amend certain provisions of the indenture that governs the notes. The consent solicitation will now expire at 5 p.m. Eastern time on Sept. 30, 2008, unless further extended.

The company also announced that it has increased the cash payment to be made to holders of the notes who properly consent to the proposed amendments before the consent solicitation expires and do not validly revoke such consent to $10.00 for each $1,000 principal amount of notes for which they give consents.

Noteholders with questions regarding the consent solicitation should contact the solicitation agent at 800-438-3242 or 212-528-7581. Copies of the consent solicitation statement and related documents can be obtained from D.F. King & Co., Inc., the information and tabulation agent, at 800-431-9643 or 212-269-5550.

Ball Corporation is a supplier of high-quality metal and plastic packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government. Ball Corporation and its subsidiaries employ more than 15,500 people worldwide and reported 2007 sales of approximately $7.4 billion. For the latest Ball news and for other company information, please visit http://www.ball.com.

Forward-Looking Statements

This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements. Such statements are subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied. The company undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise. Key risks and uncertainties are summarized in filings with the Securities and Exchange Commission, including Exhibit 99.2 in our Form 10-K, which are available at our Web site and at http://www.sec.gov. Factors that might affect our packaging segments include fluctuation in product demand and preferences; availability and cost of raw materials, including recent significant increases in resin, steel, aluminum and energy costs, and the ability to pass such increases on to customers; competitive packaging availability, pricing and substitution; changes in climate and weather; crop yields; competitive activity; failure to achieve anticipated productivity improvements or production cost reductions, including our beverage can end project; mandatory deposit or other restrictive packaging laws; changes in major customer or supplier contracts or loss of a major customer or supplier; and changes in foreign exchange rates, tax rates and activities of foreign subsidiaries. Factors that might affect our aerospace segment include: funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts. Factors that might affect the company as a whole include those listed plus: accounting changes; changes in senior management; the current global credit squeeze; successful or unsuccessful acquisitions, joint ventures or divestitures; integration of recently acquired businesses; regulatory action or laws including tax, environmental, health and workplace safety, including in respect of chemicals or substances used in raw materials or in the manufacturing process; governmental investigations; technological developments and innovations; goodwill impairment; antitrust, patent and other litigation; strikes; labor cost changes; rates of return projected and earned on assets of the company's defined benefit retirement plans; pension changes; reduced cash flow; interest rates affecting our debt; and changes to unaudited results due to statutory audits or other effects.

SOURCE Ball Corporation

Released September 24, 2008