Silgan Merger Agreement with Graham Packaging Has Been Terminated

Silgan Holdings Inc. (Nasdaq: SLGN) announced today that its period to negotiate with Graham Packaging Company Inc. (NYSE: GRM) to make adjustments to its merger agreement has expired and the parties did not reach agreement.

Graham Packaging Company Inc. has notified Silgan that its board of directors has withdrawn its recommendation for the Silgan merger agreement and the Silgan merger agreement has been terminated. Accordingly, Silgan is entitled to a termination fee of $39.5 million pursuant to the merger agreement.