Media: Tom Lange, 314-746-1236
Media: Georgina Giannelli, 312-580-4865

Smurfit-Stone Names Pete Dages Vice President and General Manager, Corrugated Container Division Effective April 1

CHICAGO, February 26, 1999 – Smurfit-Stone Container Corporation has named Peter F. Dages vice president and general manager of its corrugated container division, effective April 1. He will succeed Matt Kaplan, who earlier had announced his resignation effective March 31.

Dages, 48, has spent his entire career in the container business, holding a wide range of sales, manufacturing and general management positions. He entered the industry as a production employee in 1970 and worked in several sales and manufacturing jobs prior to joining Stone Container in 1980 as superintendent of one of the company’s Chicago plants. He was general manager of the Bedford Park, IL, sheet feeder plant from 1985-91. After that, he served as director of manufacturing for the corrugated container division. He was promoted to division vice president and regional manager in 1996.

He holds a bachelor’s degree from the University of Illinois and an MBA from the University of Chicago.

Dages has been the leader of the corrugated container transition team, responsible for overseeing the process of integrating the operations of the former Jefferson Smurfit Corporation and Stone Container corrugated container divisions.

In announcing the appointment, Ray Curran, president and chief executive designate, said, "Pete has made a vital contribution to the transition process. His skills and experience make him ideal for the job of managing this critically important division."

Smurfit-Stone is the industry’s largest corrugated container manufacturer, and the corrugated container division is the company’s largest operating unit.

Smurfit-Stone is the industry’s leading manufacturer of paperboard and paper-based packaging, including corrugated containers, folding cartons, and industrial bags. It is the largest producer of containerboard and kraft paper, and the largest collector, marketer, and exporter of recovered fiber. The company operates more than 300 facilities worldwide.

This document contains certain forward-looking statements within the meaning of Section 21 E of the Securities Exchange Act of 1934, as amended, about Smurfit-Stone Container Corporation. Although the company believes that, in making any such statements, its expectations are based on reasonable assumptions, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. When used in this document, the words "anticipates," "believes," "expects," "intends," and similar expressions as they relate to Smurfit-Stone Container Corporation or its management are intended to identify such forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties. Important factors that could cause actual results to differ materially from those in forward-looking statements, certain of which are beyond the control of Smurfit-Stone Container Corporation, include: the impact of general economic conditions in the U.S. and Canada and in other countries in which Smurfit-Stone Container Corporation and its subsidiaries currently do business (including Asia, Europe and Latin and South America); industry conditions, including competition and product and raw material prices; fluctuations in exchange rates and currency values; capital expenditure requirements; legislative or regulatory requirements, particularly concerning environmental matters; interest rates; access to capital markets; the timing of and value received in connection with asset divestitures; and obtaining required approvals, if any, of debt holders. The actual results, performance or achievement by Smurfit-Stone Container Corporation could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations and financial condition of Smurfit-Stone Container Corporation.

© 1999 Smurfit-Stone Container Corporation

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