Business News

Owens-Brockway Glass Container Inc. Announces Commencement of Exchange Offer

Tuesday 04. August 2009 - Owens-Illinois, Inc. (NYSE:OI) today announced that Owens-Brockway Glass Container Inc., an indirect wholly owned subsidiary of Owens-Illinois, Inc., has commenced a registered exchange offer to exchange $600 million aggregate principal amount of its 7-3/8% Senior Notes due 2016 which have been registered under the Securities Act of 1933, as amended (the "Exchange Notes") for any and all of the outstanding $600 million aggregate principal amount of its 7-3/8% Senior Notes due 2016 which have not been registered under the Securities Act (the "Private Notes").

The sole purpose of the exchange offer is to fulfill the obligations of Owens-Brockway Glass Container Inc. with respect to the registration of the Private Notes. Pursuant to a registration rights agreement entered into by Owens-Brockway Glass Container Inc. in connection with the sale of the Private Notes, Owens-Brockway Glass Container Inc. agreed to file with the Securities and Exchange Commission a registration statement relating to the exchange offer pursuant to which the Exchange Notes, containing substantially identical terms to the Private Notes, would be offered in exchange for Private Notes that are tendered by the holders of those notes.

Any Private Notes not tendered for exchange in the exchange offer will remain outstanding and continue to accrue interest, but will not retain any rights under the registration rights agreement except in limited circumstances.

The terms of the exchange offer are contained in the exchange offer prospectus.

The exchange offer will expire at 5:00 p.m., New York City time, on August 31, 2009, unless extended. Private Notes tendered pursuant to the exchange offer may be withdrawn at any time prior to the expiration date by following the procedures set forth in the exchange offer prospectus.

Requests for assistance or for copies of the exchange offer prospectus should be directed to US Bank National Association, the exchange agent, addressed as follows:

U.S. Bank National Association
60 Livingston Avenue
St. Paul, Minnesota 55107
Attention: Corporate Trust Department

This announcement is not an offer to sell any securities or a solicitation of any offer to buy any securities. The exchange offer will be made only by means of a written prospectus.