[OBJECT OMITTED]     Alltrista Corporation News

5875 CASTLE CREEK PARKWAY, NORTH DRIVE, SUITE 440, INDIANAPOLIS, IN  46250-4330

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        Marlin Partners II, LP Withdraws Offer for Alltrista Corporation;
                   Representatives to Join Board of Directors

     Alltrista Corporation Provides Further Guidance on Fiscal 2001 Earnings


INDIANAPOLIS,  Ind.,  June 25,  2001--Alltrista  Corporation  (NYSE:  ALC) today
announced  that Marlin  Partners II, LP has  withdrawn  its offer to acquire the
Company  for $18 in cash per  share as set forth in the  letter  of intent  with
Alltrista  dated  May 7,  2001.  Alltrista  also  updated  guidance  on its 2001
operating  earnings  before  interest,   taxes,  depreciation  and  amortization
(EBITDA),  which is  expected  to be 15 percent to 20 percent  below the earlier
guidance of approximately $55 million for the year.

     Regarding the Marlin  Partners'  acquisition  offer, the Company and Marlin
have  been  in  active  discussions   regarding  alternative   proposals,   each
conditional  upon a  number  of  factors,  including  the  possible  sale of the
Company's  thermoforming  operations  at a minimum  price,  coincident  with the
closing  of  Marlin's  proposed   acquisition  of  Alltrista.   Due  to  certain
contingencies in these revised offers, including conditions related to structure
and consideration,  the Board was unable to accept either of these alternatives.
However,  the Board is committed to continuing to explore strategic options that
would maximize  shareholder value,  including working with Marlin or others on a
fully financed, unconditional offer.

     Alltrista Chairman, President and Chief Executive Officer, Thomas B. Clark,
stated,  "The Company,  Marlin Partners and their respective  advisers committed
themselves to a diligent,  mutually cooperative effort for the past seven weeks.
Although we are disappointed  that we were unable to complete a transaction with
Marlin  for  an  acquisition  of  the  entire  Company,   we  will  continue  to
aggressively  explore  strategic  alternatives  while  maintaining  focus on our
day-to-day business. "

     He added, " The Board has determined that it is in the best interest of the
Company to invite two representatives of Marlin Partners, Martin E. Franklin and
Ian G.H.  Ashken,  to join the Company's Board of Directors.  The knowledge that
Marlin Partners has gained during the due diligence process should be of benefit
to the Company and its shareholders."

                                     -more-



     Martin E. Franklin,  General Partner of Marlin Partners, stated, " While we
are disappointed that we were unable to complete a transaction with Alltrista at
this  time,  we  welcome  the  Company's  invitation  to join the Board and look
forward to serving the best interests of its  shareholders,  while continuing to
be supportive of management."

     Commenting  on  Alltrista's  2001  earnings  outlook,  Mr.  Clark said that
although  restructuring  of the plastics  operations in late 2000 and early 2001
produced savings from reduced employment, demand in several key markets, such as
automotive,  heavy truck and  manufactured  housing,  remains  depressed and the
outlook uncertain.  Earlier estimates were based, in part, on customer forecasts
that have since been revised downward. In addition,  operational  inefficiencies
related to lower  volumes and order size  continue  to impact the  thermoforming
operations.  Management  continues  to  assess  operations  in  light  of  these
conditions.  In injection molding,  the start-up of a new healthcare program has
been delayed,  and some softness is being experienced across all markets. In the
metals segment, the coinage business,  which largely supports the U.S. Mint, has
seen  somewhat  reduced  demand as a result of the nation's  economic  slowdown.
Demand for home food preservation  products appears typical at this stage in the
home canning season.

     Alltrista  is a  materials-based  company.  Its plastics  operations  serve
numerous fields, including healthcare,  consumer,  appliance,  motor vehicle and
industrial markets.  Through its metals group, Alltrista is the leading supplier
of home food preservation products,  under the Ball(R), Kerr(R) and Bernardin(R)
brands  and is the  country's  largest  producer  of zinc  strip and  fabricated
products, including coin blanks for the U.S. and foreign mints.

NOTE:
THIS NEWS RELEASE CONTAINS  FORWARD-LOOKING  STATEMENTS  INTENDED TO QUALIFY FOR
THE SAFE HARBOR FROM LIABILITY  ESTABLISHED BY THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995,  INCLUDING  STATEMENTS REGARDING THE OUTLOOK FOR ALLTRISTA'S
MARKETS AND THE DEMAND FOR ITS PRODUCTS.  THESE  PROJECTIONS  AND STATEMENTS ARE
BASED ON MANAGEMENT'S  ESTIMATES AND  ASSUMPTIONS  WITH RESPECT TO FUTURE EVENTS
AND  FINANCIAL  PERFORMANCE  AND  ARE  BELIEVED  TO BE  REASONABLE,  THOUGH  ARE
INHERENTLY  UNCERTAIN  AND  DIFFICULT TO PREDICT.  ACTUAL  RESULTS  COULD DIFFER
MATERIALLY FROM THOSE PROJECTED AS A RESULT OF CERTAIN FACTORS.  A DISCUSSION OF
FACTORS THAT COULD CAUSE RESULTS TO VARY ARE INCLUDED IN THE COMPANY'S  PERIODIC
REPORTS FILED WITH THE  SECURITIES AND EXCHANGE  COMMISSION,  INCLUDING ITS FORM
10-K FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000.

                                      -end-

Contact:  Media Contact: Kristin Clauss 317.577.5015 or 317.501.3076
          Investor Contact: Kevin Bower 317.577.5040 or
          investorrelations@alltrista.com