SADDLE BROOK, N.J., Oct. 31, 2001 (PRIMEZONE) -- Sealed Air Corporation (NYSE:SEE) announced today that its Board of Directors has declared the regular quarterly cash dividend of 50 cents per share payable on January 2, 2002 on the outstanding shares of the Company's Series A Convertible Preferred Stock (NYSE:SEE Pr A) to stockholders of record at the close of business on December 12, 2001. The annual rate of dividends payable on this Preferred Stock is $2.00 per share.
Sealed Air is a leading global manufacturer of a wide range of food, protective and specialty packaging materials and systems including such widely recognized brands as Bubble Wrap(r) air cellular cushioning, Jiffy(r) protective mailers and Cryovac(r) food packaging products. For more information about Sealed Air Corporation, please visit the Company's Website at www.sealedair.com.