Chesapeake Receives Notification Regarding NYSE Listing Criteria

RICHMOND, Va., Aug. 6  /PRNewswire-FirstCall/ -- Chesapeake Corporation (NYSE:CSK) today announced that it has been notified by NYSE Regulation, Inc. that it is not in compliance with The New York Stock Exchange, Inc.'s ("NYSE") continued listing standards.

Chesapeake is considered below criteria for the continued listing standards because over a 30 trading-day period its total market capitalization was less than $75 million and its most recently reported stockholders' equity was less than $75 million.  In accordance with the NYSE's continued listing criteria, Chesapeake intends to present a plan to the NYSE within the required 45-day period demonstrating how it plans to comply with the NYSE's continued listing standards.

Chesapeake Corporation protects and promotes the world's great brands as a leading international supplier of value-added specialty paperboard and plastic packaging. Headquartered in Richmond, Va., the company is one of Europe's premier suppliers of folding cartons, leaflets and labels, as well as plastic packaging for niche markets.  Chesapeake has 45 locations in Europe, North America, Africa and Asia and employs approximately 5,400 people worldwide.

This news release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  The accuracy of such statements is subject to a number of risks, uncertainties and assumptions that may cause Chesapeake's actual results to differ materially from those expressed in the forward-looking statements including, but not limited to: the company's inability to realize the full extent of the expected savings or benefits from restructuring or cost savings initiatives, and to complete such activities in accordance with their planned timetables and within their expected cost ranges; the effects of competitive products and pricing; changes in production costs, particularly for raw materials such as folding carton and plastics materials, and the ability to pass through increases in raw material costs to customers; fluctuations in demand; possible recessionary trends in U.S. and global economies; changes in governmental policies and regulations; changes in interest rates and credit availability; changes in actuarial assumptions related to pension and postretirement benefits plans; changes in liabilities and cash funding obligations associated with the company's defined benefit pension plans; the ability to remain in compliance with current debt covenants and to refinance the senior revolving credit facility; fluctuations in foreign currency exchange rates; and other risks that are detailed from time to time in reports filed by Chesapeake with the Securities and Exchange Commission. 

DATASOURCE: Chesapeake Corporation



CONTACT:  Media Relations: Joseph C. Vagi, Manager - Corporate

Communications, [phone], ; or Investor

Relations: Joel K. Mostrom, Executive Vice President & Chief Financial

Officer, [phone], , both of Chesapeake

Corporation



Web site:  http://www.chesapeakecorp.com/ 

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