Stock Symbol: TSX - CCL.A and CCL.NV.B TORONTO, March 7 /CNW/ - CCL Industries Inc., a world leader in specialty packaging solutions for the consumer products and healthcare industries, announced today that it has completed a private placement financing of Senior Unsecured Notes with U.S. institutional investors. The amount of the borrowing totals US$ 170 million with US$ 60 million to be repaid in five years and US$ 110 million to be repaid in 10 years. Interest rates for the five-year and ten-year financing are 5.29% and 5.57%, respectively. Donald Lang, Vice Chairman and CEO of CCL Industries said, "There was significant demand for our private placement offering with a number of our current lenders and a few new lenders. We believe that this level of interest is an example of the market's confidence in CCL and our strategy." Mr. Lang added, "This financing establishes a solid financial foundation for CCL for the foreseeable future." Proceeds from the transaction will be used to repay CCL's US$ 120 million Senior Unsecured Notes at 6.66%, which are due March 15, 2006, with the balance to be used for general corporate purposes. CCL Industries Inc. manufactures pressure-sensitive labels, aluminum containers and plastic tubes, providing state-of-the-art specialty packaging solutions to global producers of consumer brands in the home and personal care, healthcare and specialty food and beverage sectors. With headquarters in Toronto, Canada, CCL Industries employs approximately 4,600 people and operates 46 production facilities in North America, Europe, Latin America and Asia. CCL's 40% joint venture, ColepCCL, operates 5 plants in Europe and employs 1,800 people. Statements contained in this Press Release, other than statements of historical facts, are forward-looking statements subject to a number of uncertainties that could cause actual events or results to differ materially from some statements made.