Statement re 5 year Trade Receivables Securitis...

Statement re 5 year Trade Receivables Securitisation Programme

Smurfit Kappa Group PLC

Smurfit Kappa successfully completes 5 year Trade Receivables Securitisation Programme

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Smurfit Kappa Group plc (‘SKG’ or the ‘Group’) today announces that it has successfully completed a €250 million five year trade receivables securitisation programme. Proceeds will be used to refinance the Group’s existing €210 million securitisation programme which has a September 2011 maturity and to repay a portion of its bank debt when fully drawn.

Following significant net debt reduction of €168 million in the third quarter of 2010, and a reduction of its net debt to EBITDA ratio to 3.7x at the end of September, the Group’s new securitisation programme extends its debt maturity profile to 5.4 years at a very competitive cost, thereby further strengthening its debt capital structure. SKG has no material debt maturity before December 2013, over three years away.

Ian Curley, Smurfit Kappa Group CFO, commented: “We are pleased to have successfully completed this 5 year securitisation programme, which highlights our proactive debt capital structure management. This transaction extends our long-term debt maturity profile and contributes to the diversity of our funding sources, thereby further enhancing our overall financial flexibility. The Group’s financial priority continues to be debt reduction and de-leveraging.”

About Smurfit Kappa Group

Smurfit Kappa Group is a world leader in paper-based packaging with operations in Europe and Latin America. Smurfit Kappa Group operates in 21 countries in Europe and is the European leader in containerboard, solidboard, corrugated and solidboard packaging and has a key position in several other packaging and paper market segments, including graphicboard and sack paper. Smurfit Kappa Group also has a good base in Eastern Europe and operates in 9 countries in Latin America where it is the only pan-regional operator.

Contacts	Â	Â	Â
Bertrand Paulet Smurfit Kappa Group   Tel: [phone] E-mail: [e-mail]				FD K Capital Source     Tel: [phone] E-mail: [e-mail]