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 ANNOUNCES COMPLETION OF
                          REFINANCING AND 2003 IMPACT;
             EXPECTS SUBSTANTIAL REDUCTION IN 2004 INTEREST EXPENSE


STAMFORD,  CT,  November 14, 2003 -- Silgan  Holdings Inc.  (Nasdaq:SLGN)  today
announced  that it has completed its private  placement of $200 million of 6.75%
senior  subordinated  notes due 2013 and separately  received  commitments for a
$200 million  additional term loan borrowing under its existing credit facility.
The proceeds of these transactions,  along with other funds, will be utilized to
redeem all of the Company's outstanding 9% senior subordinated  debentures.  The
Company  issued a notice today to redeem the  remaining  $475 million  principal
amount of the 9%  debentures  in  December  2003 at a price of 103.375% of their
original principal amount.

As a result of the redemption  premium and the write-off of unamortized  premium
and debt issue costs associated with the 9% debentures,  the Company will record
a loss  on  early  extinguishment  of  debt  in the  fourth  quarter  of 2003 of
approximately $18.2 million, or $.60 per diluted share. Accordingly, the Company
has adjusted its earnings estimates for the full year and fourth quarter of 2003
by this $.60 per diluted  share  loss,  to a range of $2.12 to $2.32 per diluted
share and a loss of between $.10 and $.30 per diluted share,  respectively.  The
full  year  2003  estimated  range  also  includes  $.25  per  diluted  share of
rationalization  charges  recorded  through  the  first  nine  months  of  2003.
Including the $18.2 million loss


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SILGAN HOLDINGS
November 14, 2003
Page 2

on early  extinguishment  of debt, the Company estimates that its full year 2003
interest  expense will be  approximately  $98 million.  Based upon the Company's
current outlook for interest rates and contemplated swap agreements, the Company
expects full year 2004 interest  expense to be in a range of $62 to $66 million.
The Company also  reiterated  that it remains  focused on debt  reduction in the
absence of  compelling  acquisitions,  and continues to expect to reduce debt by
$200 million to $300 million over the next three years.

"We are pleased with the continued  strong  support from the debt markets," said
Anthony J. Allott,  the Company's Chief Financial  Officer.  "As a result of the
consistent cash generation throughout the Company's history, our debt has always
traded very well. The pricing level on the senior  subordinated  notes and ample
demand  for  both  borrowings  reflects  this  continued  support  from the debt
markets.  While calling the debentures now will result in additional  cash costs
and charges in 2003, the cash payback is less than one year and future  interest
expense will be  substantially  lower. We believe the attractive rates and terms
of these new borrowings more accurately  reflect the markets'  confidence in our
franchise positions and future financial performance," concluded Allott.

                                      * * *

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 66 manufacturing  facilities in the U.S.,  Canada and Mexico. In
North America,  the Company 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.

Statements  included in this press  release which are not  historical  facts are
forward looking  statements  made pursuant to the safe harbor  provisions of the
Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act
of 1934.  Such  forward  looking  statements  are made based  upon  management's
expectations  and beliefs  concerning  future  events  impacting the Company and
therefore  involve a number  of  uncertainties  and  risks,  including,  but not
limited to, those described in the Company's Annual Report on Form 10-K for 2002
and other filings with the Securities and Exchange  Commission.  Therefore,  the
actual results of operations or financial  condition of the Company could differ
materially from those expressed or implied in such forward looking statements.

                                      * * *