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Sealed Air Reports 7% Sales Increase in Third Quarter 2007

Achieves 4% Volume Growth

Third Quarter 2007 Supplemental Financial

ELMWOOD PARK, N.J.--(BUSINESS WIRE)--Oct. 24, 2007--Sealed Air Corporation (NYSE:SEE) reported diluted earnings per common share of $0.39 for the third quarter of 2007, which includes a charge of $0.01 per common share related to the implementation of the Company's global manufacturing strategy. Excluding this charge, diluted earnings per common share would have been $0.40 per share. This compares with diluted earnings per common share of $0.41 for the third quarter of 2006, after adjusting for the two-for-one stock split effective March 2, 2007. Sealed Air's net sales for the quarter increased 7% to $1.16 billion, compared with $1.08 billion in 2006.

Commenting on the Company's operating performance, William V. Hickey, President and Chief Executive Officer, stated:

"Our business continued to demonstrate steady progress while navigating through more challenging economic conditions in North America and Western Europe. Unit volume growth was 4% for the quarter, which was the result of our geographic and product diversification, our continued expansion into emerging markets, and fast growing packaging applications. Our combined strengths enabled us to partially offset regional weaknesses and grow our sales at a higher rate, both year-over-year and sequentially.

Operating profit, however, was negatively affected by rising input costs and unfavorable price/mix. In addition, our recent sustainable packaging and vacuum insulation investments were slightly dilutive to earnings compared with last year. We continue to believe that these late-stage development investments will make positive contributions in the future. During the quarter, we also incurred additional expenses related to new packaging equipment growth programs, which we anticipate introducing next year. Notwithstanding these additional expenses, we continued to use available cash for capital expenditures, acquisitions and the payment of dividends in the quarter."

Commenting on the Company's outlook, Mr. Hickey stated:

"Our outlook for the remainder of 2007 continues to be positive, as our organization is positioned to weather the challenges of slowing economic growth rates and rising raw material costs. Looking ahead, our strategy for long term growth remains focused on innovation, growth in emerging markets and new applications. We continued to invest in our Medical Applications business by acquiring Alga Plastics and are executing on-plan with the start-up of new operations in China, with expanding capacity in Latin America, and by introducing a number of new food packaging systems."

    Financial Highlights for the Third Quarter

    --  Net sales increased 7% to $1.16 billion compared with $1.08
        billion for the third quarter of 2006. The increase in net
        sales resulted from a $43 million favorable effect of foreign
        currency translation, $40 million from unit volume growth,
        combined with a net unfavorable effect of $1 million from
        acquisitions and divestitures. Excluding the favorable effect
        of $43 million in foreign currency translation, net sales
        would have increased 4%.

    --  Gross profit increased to $320 million, or 27.6% of net sales,
        compared with $310 million, or 28.6% of net sales, for the
        third quarter of 2006. The decrease in gross profit as a
        percentage of net sales was primarily due to the impact of
        higher petrochemical-based raw material and energy costs and
        to a lesser extent, additional expenses associated with the
        implementation of the Company's multi-year global
        manufacturing strategy and unfavorable price/mix.

    --  Marketing, administrative and development expenses increased
        to $186 million, or 16.0% of net sales, compared with $170
        million, or 15.7% of net sales, for the third quarter of 2006.
        The increase in these expenses was primarily due to the
        unfavorable effects of foreign currency translation, spending
        related to innovation and new product introductions, and
        spending related to opening a state-of-the-art customer
        service center in North America.

    --  Operating profit decreased to $134 million, or 11.6% of net
        sales, compared with $140 million, or 12.9% of net sales, in
        the third quarter of 2006. Operating profit in the third
        quarter of 2007 included charges of $3 million related to the
        implementation of the Company's multi-year global
        manufacturing strategy and restructuring charges related to
        the consolidation of the Company's customer service activities
        in North America.

    --  The Company's effective income tax rate was 31.3% for the
        third quarter of 2007, compared with 30.6% in the third
        quarter of 2006. The increase in the quarterly income tax rate
        was primarily due to a larger mix of domestic pre-tax
        earnings. The Company's expected full year effective income
        tax rate is 25.2%.

    Business Segment Review

As previously announced, Sealed Air has expanded and realigned its segment reporting to reflect the Company's growth strategies both in core markets and in new business opportunities. This new structure reflects the way management now makes operating decisions, allocates resources and manages the growth and profitability of the Company's segments.

Food Packaging Segment

The new Food Packaging segment focuses on industrial food packaging and is driven by developments in technologies that enable food processors to effectively package and ship fresh and processed meats and cheeses through their supply chain.

The Company's Food Packaging segment net sales for the third quarter increased 8% to $466 million compared with $431 million last year. The positive impact of strong unit volume growth in Latin America and North America contributed to sales growth in the quarter. Excluding a $17 million favorable effect of foreign currency translation, segment net sales would have increased 4%. Operating profit for the third quarter was $51 million, or 10.8% of Food Packaging net sales, compared with $56 million, or 13.0% of net sales, in 2006. The decrease in operating profit as a percentage of net sales was primarily due to expenses related to the global manufacturing strategy and higher raw material costs.

Food Solutions Segment

The new Food Solutions segment targets advancements in food packaging technologies that provide consumers with fresh, consistently prepared, high-quality meals either from food service outlets or from expanding retail cases at grocery stores.

The Company's Food Solutions segment net sales for the third quarter increased 11% to $242 million compared with $218 million last year. The positive impact of continued strong unit volume growth in North America, Europe and Latin America, as well as favorable price/mix in North America, contributed to growth in the quarter. Excluding an $11 million favorable effect of foreign currency translation, segment net sales would have increased 6%. Operating profit for the third quarter was $24 million, or 10.1% of net sales, compared with $24 million, or 10.9% of Food Solutions net sales, in 2006. The decrease in operating profit as a percentage of net sales was primarily due to the impact of higher marketing, administrative and development expenses mentioned above and higher raw material costs.

Protective Packaging Segment

The new Protective Packaging segment includes core protective packaging technologies and solutions aimed at traditional industrial applications while increasing emphasis on consumer-oriented packaging solutions.

The Company's Protective Packaging segment net sales for the third quarter increased 1% to $371 million compared with $366 million last year. Excluding an $11 million favorable effect of foreign currency translation and the $5 million revenue impact of the sale of a small product line, segment net sales would have been essentially flat. Operating profit for the third quarter was $52 million, or 14.1% of Protective Packaging net sales, compared with $53 million, or 14.5% of net sales, in 2006. The decrease in operating profit as a percentage of net sales was primarily due to higher marketing, administrative and development expenses mentioned above, unfavorable price/mix and higher raw material costs.

Other Category

The Other category, introduced in the second quarter, focuses on growth in newer markets. These markets include specialty materials for non-packaging applications, products for value-added medical applications, and products sourced from renewable materials.

The Other category net sales for the third quarter increased 23% to $82 million compared with $66 million last year. The positive impact of strong unit volume growth in the Medical Applications business in Asia-Pacific and Europe, as well as the acquisition of Alga Plastics on August 8, 2007, contributed to the growth in the quarter. Operating profit for the third quarter was $7 million, or 8.8% of Other net sales, compared with $7 million, or 10.1% of net sales in 2006. The decrease in operating profit as a percentage of net sales was primarily due to the impact of higher marketing, administrative and development expenses including expenses associated with the Company's majority ownership in Biosphere Industries LLC.

Global Manufacturing Strategy

The Company incurred $3 million in expenses during the third quarter related to the implementation of its multi-year global manufacturing strategy that were primarily recorded as cost of sales. The Company has incurred $9 million through the first nine months of 2007 and expects to incur approximately $15 million in total expenses related to this strategy in 2007. The actual timing of these additional expenses is subject to change due to a variety of factors that may cause a portion of the charges to occur in future periods.

Capital Expenditures

Taking into account the implementation of the first phase of the Company's global manufacturing strategy, the Company now expects that total capital expenditures in 2007 will be approximately $200 million, which is at the upper end of its previously announced range of $175 to $200 million.

Earnings Guidance

Sealed Air expects its full year 2007 diluted earnings per common share to be at the lower end of its previously announced guidance range of $1.88 to $1.98. This guidance includes two previously-disclosed items that were recorded in the first quarter, those being the gain of $0.11 per common share related to the sale of the Company's investment in the PolyMask joint venture and the $0.18 per common share favorable impact from the reversal of tax accruals and related interest. Additionally, the Company expects to incur total charges of $15 million, or approximately $0.06 per common share in 2007, relating to its global manufacturing strategy, which is included in this guidance.

Excluding these items, the Company is now expecting its full year 2007 diluted earnings per common share guidance to be at the lower end of its previously announced range of $1.65 to $1.75, after adjusting for the two-for-one stock split effective March 2, 2007. This guidance also assumes a full year effective tax rate of 25.2%, continued growth in the global economy and a moderate increase in full year average raw material prices compared with 2006. Results for the year could be further impacted if recently announced raw material price increases are realized in the fourth quarter. As it has done historically, the Company is prepared to take pricing actions as appropriate to lessen the impact of any raw material price increases. However, any actions taken by the Company in the fourth quarter would likely not have an impact until 2008.

Web Site and Conference Call Information

Mr. Hickey and David H. Kelsey, the Company's Chief Financial Officer, will conduct an investor conference call today at 11:00 a.m. (ET). The conference call will be webcast live on Sealed Air's web site at www.sealedair.com in the Investor Information section under the Presentations & Events tab. Listeners should go to the web site prior to the call to register and to download and install any necessary audio software. Prior to the call, the Company will also post supplemental financial and statistical information on its web site in the Investor Information section under the Reports & Filings tab. A replay of the webcast will also be available on the Company's web site.

Investors who cannot access the webcast may listen to the live conference call via telephone by dialing (888) 271-8603 (domestic) or (913) 312-6699 (international). Telephonic replay will be available beginning today at 2:00 p.m. (ET) and ending on Sunday, October 28, 2007 at 12:00 midnight (ET). To listen to the replay, please dial (888) 203-1112 (domestic) or (719) 457-0820 (international) and use the confirmation code 4014980.

Business

Sealed Air is a leading global innovator and manufacturer of a wide range of packaging and performance-based materials and equipment systems that serve an array of food, industrial, medical, and consumer applications. Operating in 51 countries, Sealed Air's international reach generated revenue of $4.3 billion in 2006. With widely recognized brands such as Bubble Wrap(R) cushioning, Jiffy(R) protective mailers, Instapak(R) foam-in-place systems and Cryovac(R) packaging technology, Sealed Air continues to identify new trends, foster new markets, and deliver innovative solutions to its customers. For more information about Sealed Air, please visit the Company's web site at www.sealedair.com.

Non-GAAP Information

The Company's management from time to time presents information that does not conform to U.S. Generally Accepted Accounting Principles or GAAP. In this press release, the Company has presented diluted earnings per common share, and the effective income tax rate excluding items that are included in GAAP calculations of such measures. Sealed Air has also presented changes in net sales and segment net sales, excluding the effects of foreign currency translation and the impact of the sale of a small product line. Presenting diluted earnings per common share and the effective income tax rate excluding the items indicated in this press release aids in the comparisons with other periods or prior guidance. Diluted earnings per common share and growth in net sales are among the criteria upon which performance-based compensation may be determined. The Company's management generally uses changes in net sales excluding the effects of foreign currency translation, and in this instance excluding the impact of the sale of the product line, to measure the performance of the Company's operations. Thus, management believes that this information may be useful to investors.

Forward-Looking Statements

Some of the statements made by the Company in this press release are forward-looking. These statements include comments as to future events and trends affecting the Company's business, which are based upon management's current expectations and are necessarily subject to risks and uncertainties, many of which are outside the control of the Company. Forward-looking statements can be identified by such words as "anticipates," "estimates," "expects," "intends," "plans," "will" and similar expressions. The following are important factors that the Company believes could cause actual results to differ materially from those in the Company's forward-looking statements: the success of the Company's growth, profitability and global manufacturing strategies; changes in raw material and energy costs; the effects of animal and food-related health issues; market conditions; tax, interest and exchange rates; and legal proceedings. A more extensive list and description of these and other such factors can be found under the headings "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Statements," which appear in the Company's most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission.

               SEALED AIR CORPORATION AND SUBSIDIARIES
              Results for the periods ended September 30
                             (Unaudited)
                 (In millions, except per share data)
           CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS


                                           Quarter Ended September 30,
                                           ---------------------------
                                                            % Increase
                                            2007     2006   (Decrease)
                                           -------  ------- ----------

Net sales:(1)
  Food Packaging                          $  465.7 $  431.1     8
  Food Solutions                             242.4    217.8     11
  Protective Packaging                       371.2    366.4     1
  Other                                       81.6     66.1     23
                                           -------  -------
    Total net sales                        1,160.9  1,081.4     7

Cost of sales                                840.8    771.6     9
                                           -------  -------

Gross profit                                 320.1    309.8     3
  As a % of total net sales                  27.6%    28.6%

Marketing, administrative and development
 expenses                                    185.8    170.1     9
  As a % of total net sales                  16.0%    15.7%

Restructuring charges (credits) (2)            0.2    (0.1)    N/A
                                           -------  -------

Operating profit                             134.1    139.8    (4)
  As a % of total net sales                  11.6%    12.9%

Interest expense                            (35.2)   (35.5)    (1)

Gain on the sale of equity method
 investment                                      -        -    N/A

Other income, net                              6.5      7.0    (7)
                                           -------  -------

Earnings before income tax expense           105.4    111.3    (5)

Income tax expense                            33.0     34.1    (3)
                                           -------  -------

Net earnings                              $   72.4 $   77.2    (6)
                                           =======  =======
  As a % of total net sales                   6.2%     7.1%

Basic and diluted net earnings per common
 share (3)
    Basic                                 $   0.45 $   0.48
                                           =======  =======

    Diluted                               $   0.39 $   0.41
                                           =======  =======

Weighted average number of common shares
outstanding (3):
    Basic                                    159.9    160.4
                                           =======  =======

    Diluted                                  191.3    191.6
                                           =======  =======


                                       Nine Months Ended September 30,
                                       -------------------------------
                                                            % Increase
                                          2007       2006   (Decrease)
                                       -----------  ------- ----------

Net sales:(1)
  Food Packaging                      $    1,365.6 $1,270.4     7
  Food Solutions                             694.7    626.8     11
  Protective Packaging                     1,112.1  1,088.7     2
  Other                                      228.6    196.5     16
                                       -----------  -------
    Total net sales                        3,401.0  3,182.4     7

Cost of sales                              2,443.4  2,281.7     7
                                       -----------  -------

Gross profit                                 957.6    900.7     6
  As a % of total net sales                  28.2%    28.3%

Marketing, administrative and
 development expenses                        552.7    513.9     8
  As a % of total net sales                  16.3%    16.1%

Restructuring charges (credits) (2)            0.8     12.1    (93)
                                       -----------  -------

Operating profit                             404.1    374.7     8
  As a % of total net sales                  11.9%    11.8%

Interest expense                           (106.0)  (112.9)    (6)

Gain on the sale of equity method
 investment                                   35.3        -    N/A

Other income, net                             19.6     16.5     19
                                       -----------  -------

Earnings before income tax expense           353.0    278.3     27

Income tax expense                            79.7     87.5    (9)
                                       -----------  -------

Net earnings                          $      273.3 $  190.8     43
                                       ===========  =======
  As a % of total net sales                   8.0%     6.0%

Basic and diluted net earnings per
 common share (3)
    Basic                             $       1.71 $   1.18
                                       ===========  =======

    Diluted                           $       1.46 $   1.02
                                       ===========  =======

Weighted average number of common
 shares
outstanding (3):
    Basic                                    160.0    161.1
                                       ===========  =======

    Diluted                                  191.3    192.3
                                       ===========  =======


(1) As previously reported in the Company's Current Report on Form 8-K
 filed July 12, 2007, the Company has expanded and realigned its
 segment reporting to reflect the Company's growth strategies both in
 core markets and in new business opportunities. This new structure
 reflects the way management now makes operating decisions and manages
 the growth and profitability of the business. It also corresponds
 with management's current approach to allocating resources and
 assessing the performance of the Company's segments. The Company's
 business segment information is reported in accordance with the
 provisions of Financial Accounting Standards Board Statement No.131,
 "Disclosures about Segments of an Enterprise and Related
 Information," or SFAS No. 131. In accordance with SFAS No. 131, the
 2006 segment information has been recast from amounts previously
 reported to reflect the Company's new reportable business segments.
 Accordingly, there has been no change in the Company's condensed
 consolidated statements of operations and consolidated balance sheets
 previously reported in total for the Company.

(2) The 2007 restructuring charges relate to the consolidation of the
 Company's customer service activities in North America. For the nine
 months ended September 30, 2006, the Company recorded $12.1 million
 of restructuring charges, of which, $11.8 million was primarily for
 severance costs related to the first phase of its multi-year global
 manufacturing strategy.

(3) See the Supplementary Information included in this release for the
 calculation of basic and diluted earnings per common share.
               SEALED AIR CORPORATION AND SUBSIDIARIES
                      Supplementary Information
              Results for the periods ended September 30
                             (Unaudited)
                 (In millions, except per share data)
             CALCULATION OF NET EARNINGS PER COMMON SHARE

                         Quarter Ended           Nine Months Ended
                         September 30,             September 30,
                    ------------------------  ------------------------
                       2007      2006(1),(2)     2007      2006(1),(2)
                    -----------  -----------  -----------  -----------
Basic Net Earnings
 Per Common Share:
Numerator

Net earnings
 ascribed to
 common
 shareholders -
 basic             $       72.4 $       77.2 $      273.3 $      190.8
                    ===========  ===========  ===========  ===========

Denominator

Weighted average
 number of common
 shares
 outstanding -
 basic                    159.9        160.4        160.0        161.1
                    ===========  ===========  ===========  ===========

Basic net earnings
 per common share  $       0.45 $       0.48 $       1.71 $       1.18
                    ===========  ===========  ===========  ===========


Diluted Net
 Earnings Per
 Common Share:
Numerator
Net earnings
 ascribed to
 common
 shareholders -
 basic             $       72.4 $       77.2 $      273.3 $      190.8

Add: Interest on
 3% convertible
 senior notes, net
 of income taxes            1.9          2.0          5.9          5.9
                    -----------  -----------  -----------  -----------

Net earnings
 ascribed to
 common
 shareholders -
 diluted           $       74.3 $       79.2 $      279.2 $      196.7
                    ===========  ===========  ===========  ===========

Denominator

Weighted average
 number of common
 shares
 outstanding -
 basic                    159.9        160.4        160.0        161.1

Effect of
 conversion of 3%
 convertible
 senior notes              12.6         12.4         12.5         12.4

Effect of assumed
 issuance of
 asbestos
 settlement shares         18.0         18.0         18.0         18.0

Effect of non-
 vested restricted
 stock and non-
 vested restricted
 stock units(2)             0.8          0.8          0.8          0.8

                    -----------  -----------  -----------  -----------
Weighted average
 number of common
 shares
 outstanding -
 diluted (3)              191.3        191.6        191.3        192.3
                    ===========  ===========  ===========  ===========

Diluted net
 earnings per
 common share      $       0.39 $       0.41 $       1.46 $       1.02
                    ===========  ===========  ===========  ===========

(1) On February 16, 2007, the Company's Board of Directors declared a
 two-for-one stock split of the Company's common stock that was
 effected in the form of a stock dividend. The stock dividend was paid
 on March 16, 2007 at the rate of one additional share of the
 Company's common stock for each share of the Company's common stock
 issued and outstanding to stockholders of record at the close of
 business on March 2, 2007. The par value of the Company's common
 stock remains at $0.10 per common share. All share and per share
 amounts have been restated to reflect the two-for-one stock split.

(2) Net earnings per common share for 2006 has been revised. The
 Company had previously included non-vested restricted stock in the
 weighted average number of common shares outstanding in both its
 basic and diluted net earnings per common share calculations. Also,
 the Company had previously excluded non-vested restricted stock units
 from the weighted average number of common shares outstanding in its
 basic net earnings per common share calculations, and from the
 weighted average number of common shares outstanding of its diluted
 net earnings per common share calculations when inclusion of such
 units was dilutive. The calculations have been revised in accordance
 with SFAS No. 128, "Earnings per Common Share," to include non-vested
 restricted stock and non-vested restricted stock units only in the
 weighted average number of common shares outstanding of the diluted
 net earnings per common share calculation, using the treasury stock
 method, if the effect is dilutive. Such revisions were immaterial.

(3) In calculating diluted net earnings per common share, the
 Company's calculation of the diluted weighted average number of
 common shares for 2007 and 2006 provides for (1) the effect of
 conversion of the Company's 3% convertible senior notes due June 2033
 due to the application of Emerging Issues Task Force, or EITF, Issue
 No. 04-08, "The Effect of Contingently Convertible Debt on Diluted
 Earnings per Share," (2) the effect of assumed issuance of 18 million
 shares of common stock reserved for the Company's previously
 announced asbestos settlement, which has been discussed in the
 Company's Quarterly Report on Form 10-Q for the period ended June 30,
 2007, (3) the exercise of dilutive stock options, net of assumed
 treasury stock repurchases and (4) the effect of non-vested
 restricted stock and non-vested restricted stock units using the
 treasury stock method, if the effect is dilutive.
               SEALED AIR CORPORATION AND SUBSIDIARIES
                      Supplementary Information
              Results for the periods ended September 30
                             (Unaudited)
      RECONCILIATION OF DILUTED NET EARNINGS PER COMMON SHARE(1)

                            Quarter Ended         Nine Months Ended
                            September 30,           September 30,
                        ----------------------  ----------------------
                           2007        2006        2007        2006
                        ----------  ----------  ----------  ----------

Reported U.S. GAAP
 diluted net earnings
 per common share      $      0.39 $      0.41 $      1.46 $      1.02

Net earnings effect
 resulting from the
 following:

Gain on the sale of
 equity method
 investment, net of
 income tax expense              -           -      (0.11)           -

Reversal of tax
 accruals and related
 interest                        -           -      (0.18)           -

Global manufacturing
 strategy charges and
 related restructuring
 charges in 2006, net
 of income tax expense        0.01           -        0.03        0.04

                        ----------  ----------  ----------  ----------
Diluted net earnings
 per common share
 excluding the gain on
 the sale of equity
 method investment,
 net of income tax
 expense, the reversal
 of tax accruals and
 related interest and
 global manufacturing
 strategy charges and
 related restructuring
 charges in 2006, net
 of income tax expense $      0.40 $      0.41 $      1.20 $      1.06
                        ==========  ==========  ==========  ==========


----------------------------------------------------------------------


  RECONCILIATION OF THE EXPECTED ANNUAL EFFECTIVE INCOME TAX RATE(1)

                                                    As of
                                                September 30,
                                                    2007
                                                -------------

Expected U.S. GAAP effective income tax rate
 for the full year 2007                                  25.2%

Effective income tax rate effect resulting
 from the following:

Reversal of tax accruals and related interest             7.0

Gain on the sale of equity method investment            (0.6)

                                                -------------
Expected effective income tax rate for the
 full year 2007 excluding the reversal of tax
 accruals and related interest and the gain on
 the sale of equity method investment                    31.6%
                                                =============


(1) Presenting diluted net earnings per common share and the effective
 income tax rate excluding the items noted above aids in the
 comparisons with other periods or prior guidance and thus management
 believes that this information may be useful to investors. Diluted
 net earnings per common share excluding these items is among the
 criteria upon which performance-based compensation may be determined.
               SEALED AIR CORPORATION AND SUBSIDIARIES
                      Supplementary Information
              Results for the periods ended September 30
                             (Unaudited)
                            (In millions)
      BUSINESS SEGMENT INFORMATION AND CAPITAL EXPENDITURES (1)


BUSINESS SEGMENT INFORMATION: (2)
---------------------------------
                                    Quarter Ended    Nine Months Ended
                                    September 30,      September 30,
                                  -----------------  -----------------
                                      2007     2006      2007     2006
                                  -------- --------  -------- --------

Operating profit
  Food Packaging                  $   50.5 $   56.2  $  159.8 $  148.5

    As a % of Food Packaging net
     sales                           10.8%    13.0%     11.7%    11.7%

  Food Solutions                      24.4     23.8      65.6     67.1

    As a % of Food Solutions net
     sales                           10.1%    10.9%      9.4%    10.7%

  Protective Packaging                52.2     53.0     155.8    147.2

    As a % of Protective
     Packaging net sales             14.1%    14.5%     14.0%    13.5%

  Other                                7.2      6.7      23.7     24.0

    As a % of Other net sales         8.8%    10.1%     10.4%    12.2%

                                  -------- --------  -------- --------
  Total segments and other           134.3    139.7     404.9    386.8

  Restructuring charges (credits)
   (3)                                 0.2    (0.1)       0.8     12.1

                                  -------- --------  -------- --------
  Total                           $  134.1 $  139.8  $  404.1 $  374.7
                                  ======== ========  ======== ========

    As a % of total net sales        11.6%    12.9%     11.9%    11.8%

Depreciation and amortization
  Food Packaging                  $   19.1 $   18.7  $   57.5 $   57.0
  Food Solutions                       8.6      8.1      24.0     24.6
  Protective Packaging                11.0     11.9      33.1     36.4
  Other                                2.8      2.5       8.8      7.5
                                  -------- -------- --------- --------
  Total                           $   41.5 $   41.2  $  123.4 $  125.5
                                  ======== ======== ========= ========

The restructuring charges
 (credits) by business segment
 were as follows:(3)
                                    Quarter Ended    Nine Months Ended
                                    September 30,      September 30,
                                  -----------------  -----------------
                                      2007     2006      2007     2006
                                  -------- --------  -------- --------
  Food Packaging                  $      - $  (0.1)  $    0.1 $   12.2
  Food Solutions                         -        -       0.1        -
  Protective Packaging                 0.2        -       0.6    (0.1)
                                  -------- -------- --------- --------
  Total                           $    0.2 $  (0.1)  $    0.8 $   12.1
                                  ======== ======== ========= ========

----------------------------------------------------------------------

                                    Quarter Ended    Nine Months Ended
                                     September 30,     September 30,
                                  ------------------ -----------------
                                      2007     2006      2007     2006
                                  -------- --------  -------- --------

                                  -------- --------  -------- --------
CAPITAL EXPENDITURES              $   47.3 $   42.3  $  157.8 $  110.5
                                  ======== ========  ======== ========

----------------------------------------------------------------------

(1) The 2007 amounts shown are subject to change prior to the filing
 of the Company's upcoming quarterly report on Form 10-Q.

(2) See Note 1 of the Condensed Consolidated Statements of Operations
 included in this release for a discussion of the Company's new
 segment reporting structure.

(3) See Note 2 of the Condensed Consolidated Statements of Operations
 included in this release for a discussion of the Company's
 restructuring charges.
               SEALED AIR CORPORATION AND SUBSIDIARIES
                      Supplementary Information
               September 30, 2007 and December 31, 2006
                             (Unaudited)
                            (In millions)
                CONDENSED CONSOLIDATED BALANCE SHEETS

                                            September 30, December 31,
                                               2007(1)        2006
                                            ------------- ------------

Assets

Current assets:

   Cash and cash equivalents                $       374.5 $      373.1

   Short-term investments - available-for-
    sale securities                                  44.7         33.9

   Receivables, net of allowances for
    doubtful accounts                               792.0        721.3

   Inventories                                      604.2        509.4

   Other current assets                             123.9        119.0
                                            ------------- ------------

Total current assets                              1,939.3      1,756.7

Property and equipment:
   Land and improvements                             49.2         35.7
   Buildings                                        544.6        516.2
   Machinery and equipment                        2,125.8      2,054.2
   Other property and equipment                     137.8        135.9
   Construction-in-progress                         194.8        139.6
                                            ------------- ------------
                                                  3,052.2      2,881.6
   Accumulated depreciation and
    amortization                                (1,993.8)    (1,911.5)
                                            ------------- ------------
Property and equipment, net                       1,058.4        970.1

Goodwill                                          1,987.3      1,957.1

Other assets                                        365.3        337.0

                                            ------------- ------------
Total assets                                $     5,350.3 $    5,020.9
                                            ============= ============

(1) The amounts presented are subject to change prior to the filing of
 the Company's upcoming quarterly report on Form 10-Q.

               SEALED AIR CORPORATION AND SUBSIDIARIES
                      Supplementary Information
               September 30, 2007 and December 31, 2006
                             (Unaudited)
                            (In millions)
                CONDENSED CONSOLIDATED BALANCE SHEETS

                                            September 30, December 31,
                                               2007(1)        2006
                                            ------------- ------------

Liabilities and shareholders' equity

Current liabilities:

   Short-term borrowings                    $        33.8 $       20.2

   Current portion of long-term debt                302.5          5.5

   Accounts payable                                 312.2        283.9

   Asbestos settlement liability                    512.5        512.5

   Other current liabilities                        534.5        497.8

   Income taxes payable                                 -         86.2
                                            ------------- ------------

Total current liabilities                         1,695.5      1,406.1

Long-term debt, less current portion              1,532.8      1,826.6

Other liabilities                                   154.6        133.4

                                            ------------- ------------
Total liabilities                                 3,382.9      3,366.1
                                            ------------- ------------

Total shareholders' equity                        1,967.4      1,654.8

                                            ------------- ------------
Total liabilities and shareholders' equity  $     5,350.3 $    5,020.9
                                            ============= ============


(1) The amounts presented are subject to change prior to the filing of
 the Company's upcoming quarterly report on Form 10-Q.

    CONTACT: Sealed Air Corporation
             Amanda Butler, 201-791-7600

    SOURCE: Sealed Air Corporation