Graham Packaging Co. L.P. and GPC Capital Corp. I announce extension of expiration time of tender offer for its senior subordinated notes due 2014, expiration of tender offers for senior notes

YORK, Pennsylvania , August 4, 2011 (press release) – Graham Packaging Company Inc. (NYSE: GRM) ("Graham") announced today that its wholly-owned subsidiaries Graham Packaging Company, L.P. and GPC Capital Corp. I (collectively, the "Issuers"), are extending the expiration time of the previously announced tender offer for any and all of their 9.875% Senior Subordinated Notes due 2014 (the "Subordinated Notes") set forth in the Offer to Purchase and Consent Solicitation Statement dated July 6, 2011, as supplemented by Supplement No. 1 dated July 18, 2011 (together, the "Statement"). The "Expiration Time" applicable to the tender offer related to the Subordinated Notes, previously scheduled for 8:00 a.m., New York City time, on August 4, 2011, has been extended to 5:00 p.m., New York City time, on August 19, 2011, unless further extended or earlier terminated.

Holders are urged to read the Statement carefully. Except as described in this press release, all terms and conditions of the tender offer and consent solicitation related to the Subordinated Notes as described in the Statement are unchanged.

Graham previously announced that the Issuers have received the Requisite Consents (as defined in the Statement) with respect to the Subordinated Notes to adopt the proposed amendments that were the subject of the consent solicitation for such notes. The Early Tender/Consent Deadline (as defined in the Statement) with respect to the Subordinated Notes expired at 5:00 p.m., New York City time, on July 19, 2011, and was not extended.

As of 8:00 a.m., New York City time, on August 4, 2011, $18,155,000 aggregate principal amount of Subordinated Notes were validly tendered (and not validly withdrawn) in the related tender offer.

The tender offers for the Issuers' 8.25% Senior Notes due 2017 and 8.25% Senior Notes due 2018 (collectively, the "Senior Notes" and, together with the Subordinated Notes, the "Notes") set forth in the Statement expired at 8:00 a.m., New York City time, on August 4, 2011. The Issuers did not receive the Requisite Consents (as defined in the Statement) with respect to the Senior Notes and will not purchase any Senior Notes in connection with the tender offers for such notes.

The Issuers have engaged Credit Suisse Securities (USA) LLC ("Credit Suisse") as Dealer Manager for the tender offers and as Solicitation Agent for the consent solicitations. Persons with questions regarding the tender offers and consent solicitations should contact Credit Suisse at (800) 820-1653 (toll free) or (212) 538-2147 (collect). Requests for copies of the Statement or other tender offer materials may be directed to D.F. King & Co., Inc., the Information Agent, at (800) 714-3312 (toll free), (212) 269-5550 (collect) or graham@dfking.com.

The tender offer and consent solicitation with respect to the Subordinated Notes is subject to certain conditions as described in the Statement. The Issuers have reserved the right to amend, further extend, terminate or waive any terms or conditions to such tender offer and consent solicitation to the fullest extent permitted by law.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell the Notes. The tender offers and consent solicitations are being made only pursuant to the Statement and related materials. Noteholders and investors should read carefully the Statement and related materials because they contain important information, including the various terms of and conditions to the tender offers and consent solicitations.

None of Graham, the Issuers, the Dealer Manager, the Solicitation Agent, or the Information Agent makes any recommendation as to whether holders should tender their Notes or deliver consents pursuant to the tender offers and consent solicitations.

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