LAKE FOREST, Ill - January 2, 2003 - Pactiv Corporation (NYSE: PTV) will hold a conference call on January 23, 2003, at 8:30 a.m. Eastern time to discuss fourth quarter and full year 2002 financial results. An earnings release will be issued January 22 after the NYSE close.

For listen-only access to the conference call, please dial 612-288-0337 approximately 5 to 10 minutes before the start time on January 23. The passcode is Packaging.

A replay of the call will be available from approximately 1:45 p.m. Eastern time January 23 to 1 a.m. Eastern time February 21. To access the replay, please dial 800-475-6701 (U.S. and Canada) or 320-365-3844 (international). The access code for both numbers is 668192.

In addition, the conference call will be broadcast on Pactiv's website, www.pactiv.com. To listen to the call, select "investor relations" and then press the "live web cast" link. Listeners should go to the website at least 15 minutes prior to the start of the call to register, download, and install any necessary audio software.

The opportunity to listen to the conference call over the Internet also will be available through Viavid's website, located at http://www.viavid.com. To listen to the conference call, follow the instructions contained in the previous paragraph.

A replay of the call will be available on both websites through February 21.

Pactiv, a $2.8 billion corporation, is a leading provider of advanced packaging solutions for the consumer, foodservice/food packaging, and protective/flexible packaging markets. The company operates 72 facilities in 13 countries around the world. For more information about Pactiv, log on to the company's website at www.pactiv.com.