Pactiv Corporation

LAKE FOREST, Ill. – April 29, 2002 – Pactiv Corporation (NYSE: PTV) today announced that Richard Wambold, chairman and chief executive officer, and Andy Campbell, senior vice president and chief financial officer, will speak to the investment community at Salomon Smith Barney’s Ninth Annual Packaging Wrap-Up Conference in New York on April 30 at 1:30 p.m. Eastern time.

Interested investors can access a live audio webcast of the presentation and slide materials at www.pactiv.com under the Investor Relations section. A replay of the presentation will be available starting approximately 5 p.m. Eastern time on April 30 through May 30.

Pactiv, a $2.8 billion company, is a leading provider of advanced packaging solutions for the consumer, foodservice/food packaging and protective/flexible packaging markets. The specialty packaging leader currently operates 70 facilities in 13 countries around the world. For more information about Pactiv, visit the company’s web site at www.pactiv.com.