Packaging

Crown Holdings to Reaffirm Full-Year 2008 Guidance at Wachovia Securities and Key Banc Conferences

Tuesday 09. September 2008 - Crown Holdings, Inc. (NYSE:CCK), announced today that at the Wachovia Securities and Key Banc Conferences in New York and Boston as described below, Company executives expect to express confidence in the Company's outlook and reaffirm its 2008 full year guidance

Crown Holdings, Inc. (NYSE:CCK), announced today that at the Wachovia Securities and Key Banc Conferences in New York and Boston as described below, Company executives expect to express confidence in the Company’s outlook and reaffirm its 2008 full year guidance as follows:

Based upon current expectations and current exchange rates segment income is projected to grow by 24% to 28% in 2008 over 2007, to approximately $800 million to $820 million for the full year. Free cash flow is expected to be in the range of $350 million to $390 million after expected capital expenditures of $185 million.

The Company noted that it uses daily average foreign currency exchange rates for the translation of its income statement. The average rate of the U.S. dollar to the Euro from January 1, 2008 through August 31, 2008 was $1.53 to euro 1.00. If the rate were to remain at a level of $1.40 to euro 1.00 for the balance of the year the Company expects the full year average exchange rate would be approximately $1.50 to euro 1.00 (2% lower than the eight month average through August 31, 2008). The average U.S. dollar/Euro rate was $1.37 to euro 1.00 for the full year 2007.

Additionally, through the six months ended June 30, 2008, the average Euro rate was $1.53 to euro 1.00 compared to the six months ended June 30, 2007 average rate of $1.33 to euro 1.00. This approximate 15% improvement in the value of the Euro versus the U.S. dollar resulted in a $6 million or $0.04 per diluted share currency gain for the six months ended June 30, 2008 compared to the same 2007 period.

Further, applying the same $1.40 to euro 1.00 U.S. dollar/Euro exchange rate to the Company’s June 30, 2008 total debt balance would reduce total debt by approximately $145 million from that reported at June 30, 2008.