Statement re S&P Upgrade

Smurfit Kappa Group
[phone]
or
K Capital Source
Jonathan Neilan,
[phone]
[e-mail]
                  

                        S&P Upgrades Smurfit Kappa Group

Smurfit Kappa Group plc (LSE:SKG) (ISE:SK3), one of the world's largest
integrated manufacturers of paper-based packaging products with operations in
Europe and Latin America, notes today's press release by Standard & Poor's (S&P)
and welcomes the upgrade of its debt rating to 'BB' from 'BB-' with a stable
outlook.

Ian Curley, Group Chief Financial Officer commented, 'We welcome today's upgrade
by S&P which reflects the Group's progress against all financial measures.'

Standard & Poor's upgrade of the Group's debt rating follows the upgrade of
SKG's debt by Fitch Ratings on 15 April, 2008.

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 22 countries in Europe and is the European
leader in containerboard, solid board, corrugated and solid board packaging and
has a key position in several other packaging and paper market segments,
including graphic board, sack paper and paper sacks. Smurfit Kappa Group also
has a growing presence in Eastern Europe. Smurfit Kappa Group operates in 9
countries in Latin America and is the only pan-regional operator.