94610--3/2/2010--SMURFIT-STONE_CONTAINER_ENTERPRISES

related topics

{debt, indebtedness, cash}

{cost, regulation, environmental}

{condition, economic, financial}

{cost, contract, operation}

{provision, law, control}

{operation, international, foreign}

{cost, operation, labor}

{interest, director, officer}

{competitive, industry, competition}

We filed for protection under Chapter 11 of the Bankruptcy Code and our Canadian subsidiaries filed to reorganize under the CCAA on January 26, 2009. The market for the new common stock of the Reorganized Smurfit-Stone may not develop. The common stock might also have certain restrictions and could incur significant price fluctuations, depression, dilution or liquidity. Global economic conditions and credit tightening materially and adversely affect our business. Our industry is cyclical and highly competitive. Our capital structure in our Proposed Plan of Reorganization will include a significant amount of indebtedness. Our Exit Credit Facilities may limit our ability to plan for or respond to changes in our business. Factors beyond our control could hinder our ability to service our debt and meet our operating requirements. Our pension plans are underfunded and will require additional cash contributions. Price fluctuations in energy costs and raw materials could adversely affect our manufacturing costs. Work stoppage and other labor relations matters may have an adverse effect on our financial results. We are subject to environmental regulations and liabilities that could weaken our operating results and financial condition. Foreign currency risks and exchange rate fluctuations could hinder the results of our Canadian operations.

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94610--3/2/2010--SMURFIT-STONE_CONTAINER_ENTERPRISES_INC