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Avery Dennison Obtains Clearance for Jackstadt Acquisition

Press release from the issuing company

Company Expects to Finalize Transaction During Current Quarter PASADENA, Calif.--May 2, 2002--Avery Dennison Corporation today announced that the German Federal Cartel Office has issued a ruling clearing Avery Dennison's previously announced acquisition of Jackstadt GmbH. Avery Dennison is proceeding to complete the transaction, which remains subject to satisfaction of other closing conditions. The Company stated that it expects to finalize the acquisition of Jackstadt during the current quarter. Avery Dennison announced a definitive agreement to acquire Jackstadt's pressure-sensitive adhesive materials business on September 7, 2001. Jackstadt, based in Wuppertal, Germany, is the world's largest privately-held manufacturer of self-adhesive materials. The company operates 10 manufacturing facilities worldwide, serving customers through subsidiaries in 20 countries.