Cincinnati, OH (May 31, 2005) —Ampac Packaging, LLC (Ampac) completes its acquisition of Kapak Company LLC, Minneapolis, MN.

Ampac Packaging LLC, the diversified flexible packaging company headquartered in Cincinnati, OH announced today it has completed the acquisition of the balance of Kapak Company LLC, a leading manufacturer and innovator in stand-up pouches for the food, medical, ag-chem, and health and beauty aid markets.

Gary Bell, Kapak’s former president, is leaving Kapak to focus independently on flexible packaging product development. Ampac’s new management team is headed by George Thomas, who has been the acting chief operating officer for Kapak since November and is vice president of business development for Ampac.

“It has been a great experience working alongside with Gary Bell and we have enormous respect for the numerous contributions he made to Kapak and the industry. He will be missed,” says Ampac Chief Executive Officer John Baumann.

“With the addition of Kapak and Flexicon, Ampac has an excellent foundation from which to become the leader in flexible packaging. I wish them continued success,” Gary Bell says.

“The culmination of bringing the Kapak operating unit totally into our fold along with Flexicon Inc., which we acquired in January, will allow us to more effectively manage Ampac’s flexible business. These are both great companies in their own right. We now have a viable platform on which we can continue our strong growth into the future. In the months to come, we will pursue other strategic opportunities for the consumer packaging market segments we serve that will enhance our ability to deliver even more value to our customers,” Thomas points out. “This is a great industry segment and we are in a great spot.”

Complementing Ampac’s flexible packaging business is a line of custom blended, three-to-nine layer, high-performance film structures that includes the only North American, blown, wide-web Saran® polyvinylidene chloride capability. In addition, Ampac has graphic art production and plate making, customized ink blending, up to 10-color flexographic and rotogravure printing, and the capability of adding a wide variety of unique features to its finished products that differentiate the customers’ packaging in the market place.

Ampac Packaging LLC is privately held, and is owned by management together with equity backing by Key Principal Partners and Pouschine Cook Capital Management. It is a diversified flexible packaging company with nine operating sites in North America and Asia employing approximately 850 people with revenues in excess of $200 million annually. In addition to the consumer packaging business, Ampac is the preeminent supplier of retail specialty plastic and paper shopping bags, and disposable, tamper evident, security bags.
For more information, visit Ampac’s website at: www.ampaconline.com. For more information on Kapak visit its web site at www.kapak.com and Flexicon at www.flexiconinc.net .