Rock-Tenn to Aquire Southern Container and Further Interst in Solvay Paperboard

Hauppauge, New York, USA, 10 January 2008 -- Southern Container Corp., one of the largest independent U.S. manufacturers of corrugated boxes, graphics packaging, and containerboard, today announced that it has reached agreement to sell its stock to Rock-Tenn Company, Norcross, Georgia.

Steven Grossman, chief executive officer, said, “Southern Container is a vibrant company that has enjoyed extraordinary growth and provided industry-leading returns over its 60-year history. Our goal is to enhance the strong business we have built over many years, and we have determined that the best option for the succession of Southern Container is to execute a growth-oriented transaction with a leader in related paper and packaging markets, rather than taking the company public or negotiating a sale to another firm in our industry.”

James Porter, president and chief operating officer, said, “We believe that partnering with a strong paper and packaging company which shares our values and approach to the business will position Southern Container for continued success and future growth under our current management team. We are very pleased with the commitment Rock-Tenn is making to our independent operation going forward and to our strategic plan and vision for the company. Our company’s low cost, high quality assets, combined with Rock-Tenn’s complementary business segments, create a powerful platform for growth.”

The transaction is expected to close in March 2008.

UBS Investment Bank is acting as financial advisor to Southern Container. Latham Watkins and Jaspan Schlesinger Hoffman are acting as its legal advisors during this transaction.

In a separate transaction, Southern Container has reached agreement to acquire the Solvay Paperboard remaining outstanding member interest of Jamestown Container Companies, headquartered in Falconer, New York, and TenCorr Packaging, Inc. of Toronto, Ontario, Canada, effective 01 January 2008. The decision was made simultaneously with the negotiation of a strategic alliance agreement going forward between Solvay Paperboard, Jamestown Container, and TenCorr Packaging.

Southern Container Corp. is one of the largest independent U.S. manufacturers of corrugated boxes, graphics packaging, and containerboard. SCC’s assets include Solvay Paperboard, the largest independent containerboard producer in North America; eight large-scale corrugated box plants, two sheet plants and a new state-of-the-art Conprinta pre-print facility, Pre-Flex. The company also has four graphics joint ventures that complement its core business: SCI-Canada, the largest preprint graphics facility in North America, another pre-print facility, SCI-California; GraphCorr, a manufacturer of micro-flute and litho-laminate packaging; and Pohlig Brothers, a folding carton and rigid box manufacturer.

For further information, visit http://www.southern-container.com.