Crown Holdings, Inc. Enters Into Share Repurchase Agreement

PHILADELPHIA, Aug. 5 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (the "Company") today announced that it has entered into a definitive agreement with Citigroup Global Markets, Inc. to purchase shares of its common stock under an accelerated share repurchase program. Pursuant to the agreement, the Company purchased 3,182,461 shares, currently estimated to be approximately 90 percent of the shares to be repurchased, immediately from Citigroup for $100 million. The final number of shares to be repurchased and the aggregate cost to the Company will be based on the Company's volume-weighted average stock price during the term of the transaction, which the Company expects to be completed during the fourth quarter of 2010.

"The Company's significant free cash flow gives us the opportunity to return value to our shareholders as well as provide the resources for our emerging market growth initiatives and debt reduction strategy," said John W. Conway, Chairman and Chief Executive Officer of the Company. "This accelerated share repurchase program is an economically attractive way for us to immediately deploy available capital."

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including the volume-weighted average share price through expected completion of the repurchase agreement, the actual completion date of the repurchase agreement, the final number of shares repurchased, the aggregate cost to the Company, whether the Company elects to satisfy any settlement payment in cash or in stock, and the Company's ability to generate free cash flow, grow in emerging markets and reduce debt, that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2009 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.

Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, Pennsylvania.

For more information, contact: Thomas A. Kelly, Senior Vice President - Finance, [phone], or Ed Bisno, Bisno Communications, [phone].

Crown Holdings, Inc.

CONTACT: Thomas A. Kelly, Senior Vice President - Finance,
[phone]; or Ed Bisno, Bisno Communications, [phone]

Web Site: http://www.crowncork.com/