Pactiv and Reynolds Announce Expiration of HSR Waiting Period for Proposed Merger

Pactiv Corporation PTV, a leader in the consumer and foodservice packaging markets, and Reynolds Group Holdings Limited, a leading global manufacturer and supplier of consumer food and beverage packaging and storage products, today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, relating to Reynolds Group's proposed merger with Pactiv, has expired, thereby satisfying a condition to the closing of the transaction. Completion of the transaction remains subject to other customary closing conditions, including approval by Pactiv's stockholders and foreign regulatory approvals. The transaction is expected to close by the end of 2010.