(Source: PRNewswire)PHILADELPHIA, Sept. 3 /PRNewswire-FirstCall/ -- Crown Holdings, Inc. (the "Company") (NYSE: CCK) today announced that it has commenced a tender offer (the "Offer") for any and all of the outstanding 6.250% First Priority Senior Secured Notes due 2011 (the "Notes") of Crown European Holdings SA, a subsidiary of the Company, described in the table below. The principal purpose of the Offer is to acquire the Notes in order to continue to enhance the Company's balance sheet and funding flexibility by reducing debt and freeing up first lien coverage.

The securities subject to the Offer are:

Principal Outstanding/Securities Series: Common Number/ISIN:

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euro 460,000,000 Crown European Holdings SA 021317888; XS0213178881

6.250% First Priority Senior Secured 019874842; XS0198748427

Notes due September 1, 2011 019874915; XS0198749151

The Offer is being made pursuant to the terms and conditions set forth in the Company's Offer to Purchase, dated September 3, 2009, which more fully sets forth the terms and conditions thereof. The Offer for the Notes will expire at 5:00 p.m., Central European Time (CET) (11:00 a.m., Eastern Daylight Time (EDT)), on September 11, 2009, unless extended or earlier terminated. No tender will be valid if submitted after expiration of the Offer, and tenders may be withdrawn at any time prior to expiration, but not thereafter. The Company may amend, extend or terminate the Offer in its sole discretion.

The purchase price to be paid for each euro 1,000 principal amount of the Notes purchased in the Offer will be an amount in cash equal to euro 1,045. Holders whose Notes are accepted in the Offer will also receive accrued and unpaid interest from and including the last interest payment date up to, but excluding, the settlement date, payable on the settlement date. The settlement date is anticipated to be the third business day after the expiration date, subject to the terms and conditions of the Offer.

The Offer is subject to the satisfaction or waiver of various conditions described in the Offer to Purchase, including receipt of funds. The Company intends to use its cash on hand and/or proceeds from borrowings under its existing revolving credit facility and North American securitization facility to pay the total price for the Notes in the Offer. The Offer is not contingent upon the tender of any minimum principal amount of Notes. The Company reserves the right to waive any one or more of the conditions at any time.

This press release is neither an offer to purchase nor a solicitation of an offer to sell securities.