EXHIBIT 99.1



           SAFE HARBOR PROVISION OF THE PRIVATE SECURITIES LITIGATION
                               REFORM ACT OF 1995


Libbey desires to take advantage of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995.

Libbey wishes to caution readers that the following important factors, among
others, could affect Libbey's actual results and could cause Libbey's actual
consolidated results to differ materially from those expressed in any
forward-looking statements made by, or on behalf of, Libbey.

The company is exposed to market risks due to changes in currency values,
although the majority of the company's revenues and expenses are denominated in
the U.S. dollar. The currency market risks include devaluations and other major
currency fluctuations relative to the U.S. dollar, euro or Mexican peso that
could reduce the cost competitiveness of the company's products or that of
Vitrocrisa's compared to foreign competition; the effect of high inflation in
Mexico and exchange rate changes to the value of the Mexican peso and impact of
those changes on the earnings and cash flow of Vitrocrisa, expressed under
accounting principles generally accepted in the United States.

The company is exposed to market risk associated with changes in interest rates
in the U.S. and has entered into Interest Rate Protection Agreements (Rate
Agreements) with respect to $100 million of debt as a means to manage its
exposure to fluctuating interest rates. The Rate Agreements effectively convert
this portion of the company's borrowings from variable rate debt to a fixed-rate
basis, thus reducing the impact of interest rate changes on future income. The
average fixed rate of interest for the company's borrowings related to the Rate
Agreements at December 31, 2002, is 5.8% and the total interest rate, including
applicable fees, is 6.8%. The average maturity of these Rate Agreements is 2.3
years at December 31, 2002. Total remaining debt not covered by the Rate
Agreements has fluctuating interest rates with a weighted average rate of 2.4%
at December 31, 2002. The company had $88.7 million of debt subject to
fluctuating interest rates at December 31, 2002. A change of one percentage
point in such rates would result in a change in interest expense of
approximately $0.9 million on an annual basis. If the counterparts to these Rate
Agreements fail to perform, the company would no longer be protected from
interest rate fluctuations by these Rate Agreements. However, the company does
not anticipate nonperformance by the counterparts.




The fair value of the company's Rate Agreements is determined using the market
standard methodology of netting the discounted expected future variable cash
receipts and the discounted future fixed cash payments. The variable cash
receipts are based on an expectation of future interest rates derived from
observed market interest rate forward curves. The company does not expect to
cancel these agreements and expects them to expire as originally contracted. The
fair market value for the company's Rate Agreements at December 31, 2002, was
$(8.8) million.

In addition to the Rate Agreements, the company has other derivatives as
discussed below and in Note 2 to the consolidated financial statements. The
company has designated these derivative instruments as cash flow hedges. As
such, the changes in fair value of these derivative instruments are recorded in
accumulated other comprehensive income (loss) and reclassified into earnings as
the underlying hedged transaction or item affects earnings. At December 31,
2002, approximately $5.2 million of unrealized net loss was recorded in
accumulated other comprehensive income (loss).

The company holds derivative financial instruments to hedge certain of its
interest rate risks associated with long-term debt, commodity price risks
associated with forecasted future natural gas requirements and foreign exchange
rate risks associated with occasional transactions denominated in a currency
other than the U.S. dollar. These derivatives have been designated as cash flow
hedges and qualify for hedge accounting as discussed in detail in Notes 2 and 9
to the consolidated financial statements. As such, the fair value of these cash
flow hedges are recorded on the balance sheet at fair value with a corresponding
change in accumulated other comprehensive income (loss), net of related tax
effects. The company does not participate in speculative derivatives trading.
While the company intends to continue to meet the conditions for hedge
accounting, if hedges do not qualify as highly effective or if the company does
not believe that forecasted transactions would occur, the changes in the fair
value of the derivatives used as hedges would be reflected in earnings.
Information about fair values, notional amounts and contractual terms of these
instruments can be found in Notes 2 and 9 to the company's consolidated
financial statements and the section titled "Qualitative and Quantitative
Disclosures About Market Risk."

The company does not believe it is exposed to more than a nominal amount of
credit risk in its interest rate, natural gas and foreign currency hedges as the
counterparts are established financial institutions.

Other important factors potentially affecting performance include major
slowdowns in the retail, travel, restaurant and bar or entertainment industries,
including the impact of the armed hostilities or any other international or
national calamity, including any act of terrorism on the retail, travel,
restaurant and bar or entertainment industries; significant increases in
interest rates that increase the company's borrowing costs; significant
increases in per-unit costs for natural gas, electricity, corrugated packaging
and other purchased materials;



increases in expenses associated with higher medical costs, reduced pension
income associated with lower returns on pension investments and increased
pension obligations; devaluations and other major currency fluctuations relative
to the U.S. dollar, euro or Mexican peso that could reduce the cost
competitiveness of the company's or Vitrocrisa's products compared to foreign
competition; the effect of high inflation in Mexico and exchange rate changes to
the value of the Mexican peso and the earnings expressed under accounting
principles generally accepted in the United States and cash flow of Vitrocrisa;
the inability to achieve savings and profit improvements at targeted levels at
the company and Vitrocrisa from capacity realignment, re-engineering and
operational restructuring programs or within the intended time periods;
protracted work stoppages related to collective bargaining agreements; increased
competition from foreign suppliers endeavoring to sell glass tableware in the
United States and Mexico, including the impact of lower duties for imported
products; whether the company completes any significant acquisitions and whether
such acquisitions can operate profitably.