Ampac Packaging announces Tillis departure from retail bag division

Cincinnati, OH (October 17, 2006) — Ampac Packaging LLC announces that Bob Tillis, executive vice president, retail division, is leaving effective January 1, 2007, to devote more time to his other business pursuits. Tillis will, however, remain a shareholder of the privately held company and will continue to assist with key customer relationships.

Tillis joined Ampac in June 2000 when his company, Interstate Packaging Company, was acquired. Under Tillis’ leadership, Interstate had become a major manufacturer of paper shopping bags. Ampac acquired the company to enhance its product offering and solidify its position as the preeminent U.S. supplier of paper and plastic shoppers.

“I have greatly enjoyed working and partnering with Bob during his six-plus years with Ampac. His knowledge of the paper shopper business is exceptional and we are fortunate to have benefited from Bob’s business and industry experience. He will continue to stay connected to Ampac as a shareholder. We wish him well as he pursues his new business developments,” says John Baumann, president and chief executive officer, Ampac.

“I have enjoyed tackling the challenges involved in helping to take Ampac’s retail shopping bag business to the next level. I am confident that the foundation we have established will continue to springboard Ampac into an even greater level of success,” Tillis says.

Ampac Packaging LLC is privately held, and is owned by senior executives together with equity backing by Prudential Capital Group and Falcon Investment Advisors. It is a diversified, international, flexible packaging company with eleven manufacturing centers in North America and Asia employing approximately 900 people with revenues in excess of $225 million annually. In addition to products offered by Ampac’s retail products, the company is the preeminent supplier of security products and flexible packaging solutions.