Bemis to Acquire Duralam, Inc.

Bemis Company, Inc. (NYSE:BMS - news) today announced that it has entered into a letter of intent to acquire Duralam Inc., of Appleton, Wisconsin. Duralam makes films for packaging meat, cheese, candy and other food products and has annual sales of approximately $55 million. The transaction is subject to approval by the two boards of directors, due diligence and necessary regulatory approval. Terms of the agreement were not disclosed.

Commenting on the acquisition, Jeffrey Curler, President and CEO of Bemis said, ``Duralam is an excellent extension of our current high barrier film product line and broadens our capabilities in several key markets. It is expected to be modestly accretive to Bemis' EPS in 2001.''

Statements in this release that are not historical are considered ``forward-looking'' and are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors which are detailed in the Company's regular SEC filings including the most recently filed Form 10-K for the year ended December 31, 2000.

Bemis Company is a major supplier of flexible packaging and pressure sensitive materials used by leading food, consumer products, manufacturing, and other companies worldwide.