Lake Forest, Illinois, USA, 15 November 2010 – Pactiv Corporation (NYSE: PTV), a leader in the consumer and foodservice packaging markets, announced that Pactiv stockholders, at a special meeting of stockholders held today, voted to approve the merger agreement providing for the acquisition of Pactiv by Reynolds Group Holdings Limited. Pursuant to the merger agreement, a subsidiary of Reynolds will merge with and into Pactiv and Pactiv will become an indirect wholly owned subsidiary of Reynolds. Subject to the satisfaction or waiver of the remaining closing conditions, Pactiv expects the transaction to close on or about 16 November 2010.

About Pactiv

Pactiv Corporation (NYSE: PTV) is a leader in the consumer and foodservice/food packaging markets it serves. With 2009 sales of USD 3.4 billion, Pactiv derives more than 80% of its sales from market sectors in which it holds the No. 1 or No. 2 market-share position. Pactiv’s brand products include waste bags, slider storage bags, disposable tableware, and disposable cookware. Pactiv’s foodservice/food packaging offering is one of the broadest in the industry, including custom and stock products in a variety of materials. For more information, visit www.pactiv.com.