DEAR STOCKHOLDERS:

Over the course of Sealed Air’s fifty-year history, our Board members have developed and maintained a tradition of sound governance and management of the business with the highest standards of business ethics as outlined in Sealed Air’s Code of Conduct. This commitment has led to solid business performance, even in challenging economic times.

2011 marked a year of transformation for Sealed Air through our investment in Diversey—a transaction that we believe provides considerable long-term growth opportunities for the organization and solid value creation for our investors.

Having expanded Sealed Air’s scope and size of operations following the acquisition, the Board enhanced governance practices to improve the facilitation of the Company’s affairs by creating a Lead Director position and announced my appointment to this position. We believe that this change will continue to enhance the Company’s corporate governance practices and more fully align the Company with stockholder interests, particularly as they relate to achieving the benefits of the recent acquisition.

The Board takes pride in the solid foundation the Company’s leaders have achieved, the reputation of leading governance practices, and the balanced approach we have tried to consistently apply to align and meet the interests of our stockholders, customers and employees. We encourage our investors to read our annual report and proxy to become better acquainted with Sealed Air, to understand our commitment to the business and how we work hard to meet the interests of all of our stakeholders.

Sincerely,

William J. Marino

Lead Director