Sealed Air Completes Sale of Diversey Japan

Sealed Air Corporation

announced today that it has completed the previously announced sale of Diversey G.K. (“Diversey Japan”) (an indirect subsidiary of Diversey, Inc.) to an investment vehicle of The Carlyle Group (“Carlyle”) for gross proceeds of ¥30 billion (USD equivalent of approximately 373 million). Additionally, the Company intends to use the approximately $300 million in net after-tax cash proceeds generated from the sale to prepay a portion of its term loans currently outstanding under its senior secured credit facilities. As of September 30, 2012, Diversey Japan was classified as a discontinued operation. Additional detail about the accounting impact of the transaction is disclosed in the Company's Form 10-Q for the quarterly period ended September 30, 2012 and in