EX-99.1 3 prjennings.txt PRESS RELEASE - JENNINGS - 8-4-03 EXHIBIT 99.1 News For Immediate Release SILGAN HOLDINGS INC. 4 Landmark Square Suite 400 Stamford, CT 06901 Telephone: (203) 975-7110 Fax: (203) 975-7902 Contact: Anthony J. Allott (203) 406-3160 SILGAN HOLDINGS ELECTS WILLIAM C. JENNINGS A MEMBER OF ITS BOARD OF DIRECTORS AND CHAIRMAN OF THE AUDIT COMMITTEE STAMFORD, CT, August 4, 2003 -- Silgan Holdings Inc. (Nasdaq:SLGN) today announced that William C. Jennings has been elected as a member of the Board of Directors of the Company and as the Chairman of the Audit Committee, replacing Leigh Abramson. Mr. Jennings will serve as a Class I Director of the Company, completing Mr. Abramson's term. Mr. Abramson, a Managing Director of Morgan Stanley & Co. Incorporated, resigned from the Company's Board of Directors, after having served on the Board for the past seven years and making many valuable contributions to the Company. Mr. Jennings, 64, brings more than 40 years of business experience to the Company. He was formerly a Partner of PriceWaterhouseCoopers, most recently leading the firm's Risk Management and Internal Controls Consulting Practice. Previously, he served as Chief Financial Officer of Bankers Trust and as a Senior Executive Vice President at Shearson Lehman Brothers. (more) SILGAN HOLDINGS August 4, 2003 Page 2 Mr. Jennings also serves on the Boards of Axcelis Technologies, Inc. (Nasdaq:ACLS) and NYFIX, Inc. (Nasdaq:NYFX) and has served on the Boards of several companies, including Intellisource, Inc., U.S. Interactive, Inc. and the Merger Fund, a publicly traded mutual fund. Mr. Jennings has recently been a speaker on corporate governance and The Sarbanes-Oxley Act and has frequently appeared in business print and broadcast as an expert on risk management and internal controls. * * * Silgan Holdings is a leading North American manufacturer of consumer goods packaging products with annual sales of approximately $2.0 billion in 2002. Silgan operates 68 manufacturing facilities in the U.S., Canada and Mexico. In North America, Silgan is the largest supplier of metal containers for food products and a leading supplier of plastic containers for personal care products and of metal and plastic closures for food and beverage products. * * *