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EUGENE C. SIT ELECTED A DIRECTOR
 

CLAYTON, MO, July 23, 2004 — Smurfit-Stone Container Corporation  (Nasdaq: SSCC) announced today that Eugene C. Sit, chairman, chief executive officer and chief investment officer of Sit Investment Associates, has been elected to its board of directors.  Sit’s election expands Smurfit-Stone’s board to nine members.   

Sit founded Minneapolis-based Sit Investment Associates in 1981.  Prior to forming his own company he was chairman, chief executive officer and chief investment officer of IDS Advisory/American Express.

Sit was born in Canton, China.  He earned a BSC degree at DePaul University in 1960 and is a CPA and CFA.  Sit currently serves as a director of Corning Incorporated and is a trustee of Carleton College, the University of Minnesota Carlson School's International Programs and the Dean's Board of Visitors of the University of Minnesota Medical School.

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