On September 7, 2001, the Company purchased all of the outstanding stock of Duralam, Inc., which had annual sales of approximately $55.0 million, for a cash purchase price of $68.4 million. Duralam manufactures films for packaging meat, cheese, candy, and other food products at facilities in Appleton and Neenah, Wisconsin. The total cash purchase price has been accounted for under the purchase method of accounting reflecting the provision of SFAS No. 141 and SFAS No. 142 regarding such acquisitions initiated after June 30, 2001. In a preliminary allocation of the purchase price, $20.0 million was allocated to tangible assets and $48.4 million to goodwill, of which approximately $15.8 million is tax deductible goodwill. This preliminary purchase price allocation will be finalized in early 2002 when the valuation of assets acquired is completed. Results of operations subsequent to September 7, 2001, are included in these financial statements.

On September 8, 2000, the Company purchased the pressure sensitive materials product line of Kanzaki Specialty Papers, Inc. which had approximately $78.0 million in sales in 1999. This business supplies direct thermal pressure sensitive products to printers for labels used for bar coding, shipping and inventory labeling, and a variety of other end uses. Assets acquired with this business include a long-term supply agreement to purchase Kanzaki’s high quality face paper to which adhesive will be applied using already available state-of-the-art equipment. No equipment or facilities were acquired with this business. The total cash purchase price of $45.2 million has been accounted for under the purchase method of accounting, and results of operations subsequent to September 7, 2000, are included in these financial statements.

On August 31, 2000, the Company purchased the specialty plastic films business of Viskase Companies, Inc., which supplies a variety of shrinkable barrier bags, films, and cook-in bags to beef, pork, poultry, and cheese processors. It had net sales of approximately $150.0 million in 1999. This acquisition has strong and complex technologies that both complement and extend the technologies employed in the Company’s very successful flexible packaging business. In addition, this acquisition brings to the Company immediate access to important fresh meat markets and is a natural extension of the strong position and relationships already established in the processed meat, cheese, and poultry markets. Included in the acquisition are manufacturing facilities in Centerville, Iowa; Pauls Valley, Oklahoma; Swansea, Wales; and São Paulo, Brazil. The total cash purchase price of $226.2 million has been accounted for under the purchase method of accounting, and results of operations subsequent to August 30, 2000, are included in these financial statements.

Effective August 1, 2000, the Company purchased the assets of the flexible packaging business of Arrow Industries, which had net sales of approximately $33.0 million during the preceding twelve months. Equipment acquired with this business has been strategically deployed into existing facilities to provide additional capacity. The total cash purchase price of $18.8 million has been accounted for under the purchase method of accounting, and results of operations subsequent to July 31, 2000, are included in these financial statements.

On January 6, 2000, the Company purchased the remaining 13 percent minority interest in Morgan Adhesives Company (MACtac). The Company issued 1,730,952 shares of its common stock, valued at $54.8 million, and paid $3.4 million in cash. Upon the acquisition of these minority shares, MACtac became a wholly owned subsidiary of Bemis Company, Inc.

On January 13, 1999, the Company purchased the remaining minority interest in voting preference shares of Perfecseal Limited in accordance with an agreement dated April 29, 1996, relating to the acquisition of Perfecseal Healthcare Packaging Division (Perfecseal) of Paper Manufacturers Company, Inc. A cash payment of $1.4 million was made to acquire the remaining outstanding minority interest.

Supplemental pro forma results of operations giving effect to the acquisitions are not presented because they are not material.

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