Shearman & Sterling represented Credit Suisse Securities (Europe) Limited, Barclays Bank PLC and Goldman Sachs International in connection with a private placement of €125 million aggregate principal amount of Second Priority Senior Secured Floating Rate Notes due 2013 of Pregis Corporation pursuant to Rule 144A and Regulation S. The notes are mirror notes to those offered in October 2005. Pregis Corporation is a leading international manufacturer, marketer and supplier of protective packaging products and specialty packaging solutions.

The following Shearman & Sterling attorneys advised the initial purchasers in this transaction: partners David Beveridge (New York-Capital Markets) and Bernie Pistillo (New York-Tax); counsel Jason Pratt (New York-Property/Environmental); associates Damien Grierson (New York-Capital Markets), Felipe Camara (New York-Capital Markets), Joe M. Sasanuma (New York-Capital Markets), Derek Kershaw (New York-Tax) and Seth Kerschner (New York-Property/Environmental); and legal assistant Kristi Anne Nadvornik (New York-Capital Markets).