Crown Holdings Announces Repurchase Agreement

Crown Holdings, Inc. CCK 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, Crown purchased 4,354,838 shares, currently estimated to be approximately 90 percent of the shares to be repurchased, immediately from Citigroup for $150 million. The final number of shares to be repurchased and the aggregate cost to Crown will be based on Crown's volume-weighted average stock price during the term of the transaction, which is expected to be completed in April of 2011. In a previous separate agreement finalized November 8, 2010, Crown purchased a total of 3,432,251 shares for an aggregate purchase price of $100 million.