Pasadena, Calif. - Avery Dennison Corporation today announced that it will purchase the outstanding $109,351,000 aggregate principal amount of its 5.350% Senior Notes due 2020 in the remarketing of those notes in accordance with the terms of the Corporate HiMEDS Units (the "Units") the Company originally issued in 2007. Pursuant to the purchase contract component of the Units, the net proceeds from the remarketing will be used by the holders of Units to settle their obligations to purchase shares of Avery Dennison common stock from the Company. The transaction is expected to close on November 15, 2010, after which the Company intends to cancel the senior notes.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Avery Dennison has filed a registration statement with the Securities and Exchange Commission relating to the remarketing. The remarketing of senior notes may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained when available from J.P. Morgan Securities LLC, 383 Madison Avenue, Floor 8, New York, New York 10017, 212-834-4533.