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Avery Dennison Comments on UPM/Bemis Merger Ruling

Monday, July 28, 2003

Press release from the issuing company

PASADENA, Calif.--July 25, 2003-- Avery Dennison Corporation today issued the following statement regarding the decision by Judge James Zagel of the U.S. District Court for the Northern District of Illinois to block the proposed merger of UPM-Kymmene and the MACtac division of Bemis Co., Inc.: Avery Dennison was not a party to that proceeding and consistently has taken no position regarding the proposed merger. We note in the court's decision that the Department of Justice has stipulated that the "paper label industry is highly competitive." This is consistent with our view. For more information, the complete ruling by the court can be obtained at http://www.ilnd.uscourts.gov/RACER2/recent_opinions.cfm?judge=Zagel




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