EXHIBIT 99.2

MAY 11, 2005

FOR IMMEDIATE RELEASE

PLIANT CORPORATION REPORTS FIRST QUARTER 2005 RESULTS

Pliant Corporation today reported record 1st quarter sales of $263 million. This
represents  an 11%  increase  over the 1st quarter of 2004 on 3.3% less  volume,
measured in pounds. Average selling prices increased 14.7% in the 1st quarter of
2005 as compared to the 1st quarter of 2004 and accounted for  approximately $35
million in additional  sales. On a sequential  basis,  sales increased 3.7% over
the 4th quarter of 2004 on 2.3% less volume, measured in pounds.

Total  segment  profit was $21.8 million for the 1st quarter of 2005 compared to
$27.5 million for the 1st quarter of 2004. The company  successfully  offset the
majority of the  negative  impacts of higher resin costs but was impacted by the
effects of weak  volumes/mix,  higher freight costs and higher costs  associated
with the company's growth initiatives. However, the 1st quarter was in line with
the company's  internal profit plan which builds up to $110 million for the full
year. On a sequential  basis,  segment profit increased 33% over the 4th quarter
of 2004. However, the company made a $4.5 million non-cash prior period vacation
accrual charge in the 4th quarter of 2004. Adding back that $4.5 million charge,
segment profit increased 5% over the 4th quarter of 2004, on a comparable basis.

Harold Bevis, President and CEO of Pliant Corporation said, "Pliant continues to
make solid operational progress.

     o    The company  continues to consistently  eliminate waste in its plants.
          Pliant  lowered its annual net waste per pound  produced  from 8.1% in
          2003 to 6.8% in 2004 and ran  under 6% per pound  produced  in the 1st
          quarter of 2005.

     o    The  company  continues  to  consistently  improve  its  manufacturing
          quality. Pliant has lowered its manufacturing quality credit rate from
          0.53% in 2003 to 0.39% in 2004 and ran under  0.35% in the 1st quarter
          of 2005."

LIQUIDITY

Borrowings under the revolving credit facility averaged $32.6 million during the
1st  quarter of 2005.  This amount was  slightly  higher than the 4th quarter of
2004 and reflects higher resin costs in the company's  working capital  accounts
as well as the outlays  required for the company's  2005 capital  spending plan.
However,  resin  prices  decreased  in April,  decreased  in May and  widespread
softness  suggests a favorable resin price outlook in the next several months as
well.



IMPROVED FUTURE LIQUIDITY

The company took advantage of favorable  capital  markets and modified the terms
of its 1st lien bonds in May 2005 to improve its  liquidity and  flexibility  in
the years 2007, 2008 and 2009.  These amended notes no longer require payment of
cash  interest  beginning in 2007.  Instead,  they  require  payment of non-cash
interest in the form of additional  notes  through  maturity,  thus  effectively
capping  cash  interest  payments on Pliant's  bonds at current  levels  through
maturity.  This will enable us to re-invest in our business more aggressively as
new growth opportunities emerge and provide protection against unfavorable resin
price movements in the future, if they occur.

SALE OF ALLIANT BUSINESS

Pliant sold its Alliant reclosables business to ITW in April 2005 for a purchase
price of $6.3  million.  This  business  contributed  $0.6  million in sales and
incurred a $0.3 million loss in segment profit in the 1st quarter of 2005.

2005 GUIDANCE UPDATE

The company had properly  planned for the results achieved in the 1st quarter of
2005.  We are therefore  reconfirming  our guidance of $110 million for the full
year of 2005.

CONCLUSION

Bevis said,  "Our results were in line with our internal  expectations in a very
difficult operating environment in the 1st quarter of 2005. We are modifying our
production  and  inventory  plans  in  response  to  the  continued  soft  sales
environment but remain firmly committed to our strategically sound business plan
built on innovation,  customer  service,  accretive sales growth and operational
excellence."