1012100--3/1/2010--SEALED_AIR

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{operation, international, foreign}

{tax, income, asset}

{cost, regulation, environmental}

{debt, indebtedness, cash}

{capital, credit, financial}

{financial, litigation, operation}

{condition, economic, financial}

{operation, natural, condition}

{interest, director, officer}

{regulation, change, law}

{stock, price, operating}

{gas, price, oil}

{system, service, information}

{competitive, industry, competition}

{product, liability, claim}

Weakened global economic conditions have had and could continue to have an adverse effect on our consolidated financial position and results of operations. The global nature of our operations in the United States and in 50 foreign countries exposes us to numerous risks that could materially adversely affect our consolidated financial position and results of operations. If the settlement of the asbestos-related claims that we have agreed to (the "Settlement agreement") is not implemented, we will not be released from the various asbestos-related, fraudulent transfer, successor liability, and indemnification claims made against us arising from a 1998 transaction with W. R. Grace Co. We are also a defendant in a number of asbestos-related actions in Canada arising from W. R. Grace Co.'s activities in Canada prior to the 1998 transaction. A downgrade of our credit ratings could have a negative impact on our costs and ability to access credit markets. Raw material pricing, availability and allocation by suppliers as well as energy-related costs may negatively impact our results of operations, including our profit margins. The effects of animal and food-related health issues such as bovine spongiform encephalopathy, also known as "mad cow" disease, foot-and-mouth disease and avian influenza or "bird-flu," as well as other health issues affecting the food industry, may lead to decreased revenues. Concerns about greenhouse gas (GHG) emissions and climate change and the resulting governmental and market responses to these issues could increase costs that we incur and could otherwise affect our consolidated financial position and results of operations. Disruption and volatility of the financial and credit markets could affect our external liquidity sources. Covenant restrictions under our credit arrangements may pose a risk. Strengthening of the U.S. dollar and other foreign currency exchange rate fluctuations could materially impact our consolidated financial position and results of operations. The full realization of our deferred tax assets, including primarily those related to the Settlement agreement and the other than temporary impairment of our investments in auction rate securities, may be affected by a number of factors. Our annual effective tax rate can materially change as a result of changes in our U.S. and foreign mix of earnings and other factors including changes in tax laws and changes by regulatory authorities. We experience competition in our operating segments and in the geographic areas in which we operate. A slowing pipeline of new technologies and solutions at favorable margins could adversely affect our performance and prospects for future growth. A major loss of or disruption in our manufacturing and distribution operations or our information systems and telecommunication resources could adversely affect our business. The price of our common stock has on occasion experienced significant price and volume fluctuations. The sale of substantial amounts of our common stock could adversely affect the price of the common stock. One stockholder has beneficial ownership of approximately 37% of our common shares. Weakness in the financial and credit markets and other factors could potentially lead to the impairment of the carrying amount of our goodwill and other long-lived assets and our investments in auction rate securities. Product liability claims or regulatory actions could adversely affect our financial results or harm our reputation or the value of our brands. Our subsidiaries hold substantially all of our assets and conduct substantially all of our operations, and as a result we rely on distributions or advances from our subsidiaries. Cautionary Notice Regarding Forward-Looking Statements

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1012100--3/1/2010--SEALED_AIR_CORP/DE