Sealed Air Corporation (NYSE:SEE) reported today that the U.S. District Court of Delaware in the W. R. Grace bankruptcy denied all objections and confirmed Grace's plan of reorganization in its entirety. The District Court rulings remain subject to further appeals before W. R. Grace's plan of reorganization can become effective. We stand ready to contribute our payment directly to the two trusts to be established under Section 524(g) of the Bankruptcy Code once the provisions of the settlement agreement are fully met. Our payment includes cash and 18 million shares of common stock. As of September 30, 2011, the total cash payment would have been approximately $820 million, which reflects the principal settlement amount of $512.5 million and approximately $308 million of accrued interest, which accrues at 5.5% per annum and is compounded annually. We intend to fund a substantial portion of the payment using available cash with the remainder from our committed credit facilities. The shares are currently recognized in our diluted weighted average number of shares outstanding for our net earnings per common share calculations. Our payment would resolve all current and future asbestos-related, fraudulent transfer and successor claims against us as a result of the Cryovac transaction with W. R. Grace in 1998. The order and findings are an encouraging step in the W. R. Grace bankruptcy process. We will continue to review plan details, monitor the bankruptcy process and provide updates as necessary. Forward-Looking Statements Company statements in this press release may be forward-looking. These statements include comments as to future events that may affect the Company, which are based upon management's current expectations and are subject to uncertainties, many of which are outside the Company's control. Forward-looking statements can be identified by such words as "anticipates," "expects," "will" and similar expressions. A variety of factors may cause actual results to differ materially from these expectations, including: economic conditions affecting packaging utilization; changes in raw material costs; currency translation effects; and legal proceedings. For more extensive information, see "Risk Factors" and "Cautionary Notice Regarding Forward-Looking Statements," which appear in our most recent annual report on Form 10-K, as filed with the Securities and Exchange Commission, and as may be revised and updated by our quarterly reports on Form 10-Q and current reports on Form 8-K.