Smurfit-Stone Chairman and CEO Patrick J. Moore Rings Nasdaq Opening Bell in Recognition of Smurfit-Stone's Midway Point in Tran

- On track with the largest capital investment program in company history to drive productivity and customer service improvements



NEW YORK, Oct. 11  /PRNewswire-FirstCall/ -- Smurfit-Stone Container Corporation Chairman and Chief Executive Officer Patrick J. Moore rang the NASDAQ opening bell this morning to recognize the company's successful track record in executing its aggressive transformation strategy.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20070129/SMURFIT-STONELOGO)

"Our 22,000 employees are driving the successful execution of our company's transformation strategy and solidly positioning Smurfit-Stone for a prosperous future," Moore said.  "At the midway point of our transformation program, we are improving the financial performance and cost profile of our operations to drive profitable growth, and are focusing on financial flexibility to reduce debt and reinvest in the company. I am proud of the entire Smurfit-Stone team for achieving these results."

Smurfit-Stone has reduced its debt by $1.3 billion over the past 18 months, divesting non-core assets to allow the company to focus on its corrugated container, containerboard, and recycling markets.

The company's efforts in scaling its operations has led to an 11 percent productivity improvement in its corrugated container operations, and its new, centralized sales and marketing team has helped improve sales and customer service.  Smurfit-Stone's containerboard operations have maintained previous years' production levels despite closing four mills in the past two years. Smurfit-Stone is one of the world's largest paper recyclers, and the company's recycling division provides an excellent growth platform given trends toward environmental sustainability.

"As part of our three-year strategy, we are investing $400 million in incremental capital, the largest such program in company history, to better serve our customers," Moore said. "In total, there will be more than 1,000 unique capital investment events involved in this plan."

Part of the capital investment program includes new corrugated container facilities in Chicago and Los Angeles which will include the industry's highest volume corrugators.  Smurfit-Stone already has similar facilities in key markets such as Atlanta, Dallas, and Toronto.

"The corrugators and converting equipment at Chicago and Los Angeles facilities will each generate greater product throughput than any single corrugated container plant in our system," Moore said. "Our employees, the equipment we are installing, and the systems and operational best practices we will have in place will make these world class operations."

At the midway point of its three-year transformation plan, Smurfit-Stone is ahead of schedule on its $525 million cost reduction target, having already achieved $400 million in annualized cost savings.

The company has made these accomplishments while maintaining its focus on safety.  Smurfit-Stone has led the industry in safety performance every year since 2001.

"I am pleased with our performance as we move into the second half of our transformation strategy," Moore said.  "We have a great future ahead of us as we strive to become the safest and most profitable company in the industry."

Smurfit-Stone Container Corporation is reshaping the world of packaging to drive profitable growth for our business and our customers' businesses by delivering the strongest price-value equation in the marketplace. Smurfit-Stone is the industry's leading integrated manufacturer of paperboard and paper-based packaging products and service and is one of the world's largest paper recyclers. The company is the only one in the industry to manufacture more than 70 custom, proprietary and standard machines, offering customers turn-key installation, automation, line integration and packaging solutions. Smurfit-Stone is a member of the World Business Council for Sustainable Development and the Chicago Climate Exchange.  The company generated revenue of $7.2 billion in 2006, has led the industry in safety every year since 2001, and conducts its business in compliance with the environmental, health, and safety principles of the American Forest & Paper Association. 

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DATASOURCE: Smurfit-Stone Container Corporation



CONTACT:  media, Tom Lange, [phone], or investors, John Haudrich,

[phone], or Brian Peura, [phone], all of Smurfit-Stone



Web site:  http://www.smurfit-stone.com/ 

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