Hartsville, South Carolina, USA, 08 November 2010 – Sonoco (NYSE: SON) announced today the expiration and final results of its offer to purchase any and all of its 6.50% notes due 2013. Sonoco refers to its offer to purchase the 6.50% notes as the “any and all tender offer.”

As of 5:00 p.m., Eastern Time, on 05 November 2010, the expiration date for the any and all tender offer, the aggregate principal amount of 6.50% notes tendered in the any and all tender offer was USD 132,330,000, representing 52.93% of the USD 250,000,000 aggregate principal amount outstanding of 6.50% notes. All of the 6.50% notes that were tendered have been accepted for payment by Sonoco, with settlement expected to occur today. The holders of the 6.50% notes that were accepted for purchase will be entitled to receive the total consideration of USD 1,158.96 per USD 1000 principal amount of 6.50% notes, plus accrued and unpaid interest from and including the last interest payment date to, but not including, the settlement date.

The any and all tender offer was made pursuant to an offer to purchase dated 25 October 2010 and related letter of transmittal dated 25 October 2010, which set forth a complete description of the terms of the any and all tender offer.

Also described in the offer to purchase, the letter of transmittal and any amendments or supplements to the foregoing, Sonoco offered to purchase for cash up to the maximum aggregate principal amount of its 5.625% notes due 2016 and 9.20% debentures due 2021 (together with the 5.625% notes, the “maximum tender securities”) that it can purchase for USD 300,000,000 (exclusive of accrued interest and subject to increase), less any amount it paid to repurchase its 6.50% notes (the “maximum payment amount”). Sonoco refers to its offer to purchase the maximum tender securities as the “maximum tender offer.” As a result of the amount of 6.50% notes tendered and accepted for payment in the any and all tender offer, the maximum payment amount is USD 146,634,823. Sonoco refers to the any and all tender offer and the maximum tender offer, collectively, as the “tender offers.” The 6.50% notes, the 5.625% notes, and the 9.20% debentures are referred to, collectively, as the “securities.” 

As of 5:00 p.m., Eastern Time, on 05 November 2010, the expiration of the early tender period for the maximum tender offer, the aggregate principal amount of 5.625% notes tendered was USD 74,750,000, representing approximately 49.83% of the USD 150,000,000 aggregate principal amount outstanding of 5.625% notes, and the aggregate principal amount of 9.20% debentures tendered was USD 36,984,000 representing approximately 89.54% of the USD 41,305,000 aggregate principal amount outstanding of 9.20% debentures. 

Sonoco will pay holders who validly tendered and did not validly withdraw their maximum tender securities before 5:00 p.m., Eastern Time, on 05 November 2010, pursuant to the maximum tender offer, the consideration of USD 1,170.06 for each USD 1000 principal amount of 5.625% notes accepted for purchase and the consideration of USD 1,418.18 for each USD 1000 principal amount of 9.20% debentures accepted for purchase, plus, in each case, accrued and unpaid interest up to, but not including, the settlement date. The total consideration in each case includes USD 30.00 for each USD 1000 principal amount of maximum tender securities accepted for purchase.

Holders of maximum tender securities who have not already tendered maximum tender securities may continue to do so at any time at or before 5:00 p.m., Eastern Time, on 22 November 2010. Holders of maximum tender securities that are validly tendered after 5:00 p.m., Eastern Time, on 05 November 2010, and at or before 5:00 p.m., Eastern Time, on 22 November 2010, and accepted for purchase will receive the applicable total consideration minus the applicable early tender premium. Withdrawal rights for the maximum tender offer have expired. 

The maximum tender offer is conditioned on satisfaction of certain conditions set forth in the offer to purchase. The complete terms and conditions of each tender offer are set forth in the offer to purchase and the letter of transmittal, which holders are urged to read carefully. Persons with questions regarding the tender offers should contact BofA Merrill Lynch at (toll-free) (888) 292-0070 or (collect) (980) 388-9217 or J.P. Morgan at (toll-free) (866) 834-4666 or (collect) (212) 834-3424. Requests for copies of the offer to purchase, the letter of transmittal and other related materials should be directed to Global Bondholder Services Corporation at (212) 430-3774 or (toll-free) (866) 470-3900.

About Sonoco

Founded in 1899, Sonoco is a USD 3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the company, visit http://www.sonoco.com.