Exhibit 99.1

Libbey Inc.
300 Madison Ave
P.O. Box 10060
Toledo, OH 43699

NEWS RELEASE

AT THE COMPANY:
Kenneth Boerger	Greg Geswein
VP/Treasurer	VP/Chief Financial Officer
(419) 325-2279	(419) 325-2451
FOR IMMEDIATE RELEASE
FRIDAY, AUGUST 1, 2008

LIBBEY INC. ANNOUNCES SECOND QUARTER RESULTS

Record second-quarter sales of $224.8 million represent second highest quarterly sales performance in history. Achieved income from operations of $18.7 million and EBITDA of $30.5 million despite rapidly escalating natural gas and electricity costs.

• Sales Increase 8.5 Percent

• Income From Operations of $18.7 Million

• Income Before Income Taxes of $1.7 Million

• Second Quarter Net Loss of $2.1 Million Reflects Unusually High Effective Tax Rate of 225.9 Percent

• EBITDA of $30.5 Million for Quarter

• Guidance for Full-Year 2008 EBITDA in Range of $114 Million to $118 Million

TOLEDO, OHIO, AUGUST 1, 2008—Libbey Inc. (NYSE: LBY) today announced strong second-quarter sales results driven by improvements in international and certain North American markets.

Second Quarter Results

For the quarter-ended June 30, 2008, sales increased 8.5 percent to $224.8 million from $207.1 million in the year-ago quarter. North American Glass sales increased 5.5 percent to $155.0 million (see Table 3) from $147.0 million in the year-ago quarter. The increase in sales was attributable to a more than 10 percent increase in shipments to Crisa customers and a more than 4 percent increase in shipments to retail glassware customers. Sales to U. S. foodservice customers were approximately 2 percent lower than in the second quarter of 2007. North American Other sales decreased 1.2 percent, as shipments of Syracuse China products decreased approximately 14 percent and sales of World Tableware and Traex products were up approximately 7 percent and 5 percent, respectively. International sales increased 29.6 percent as the result of increased sales to

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customers of Libbey China, Royal Leerdam and Crisal. A majority of the increased sales is attributable to Libbey China and a favorable currency impact on European sales. Excluding the currency impact, international sales increased approximately 14.0 percent.

The Company reported income from operations of $18.7 million during the quarter, compared with income from operations of $20.5 million in the year-ago quarter. Factors contributing to the decrease in income from operations were lower production activity in Mexico as the result of a scheduled furnace rebuild, along with higher natural gas and electricity costs. Higher sales partially offset these increased costs.

Earnings before interest and taxes (EBIT) were $19.3 million, compared with $21.2 million in the year-ago quarter. EBIT was $14.9 million for North American Glass, compared with $16.5 million in the second quarter of 2007, as a result of the lower production activity in Mexico due to the furnace rebuild and higher natural gas expenses. North American Other reported EBIT of $3.6 million for the second quarter of 2008, compared with $4.3 million in the second quarter of 2007. The decrease was primarily a result of the lower sales at Syracuse China. The International segment reported EBIT of $0.7 million, which was a $0.4 million improvement compared with the year-ago quarter. This improvement was primarily related to Libbey China being in full operation, along with higher international sales, partially offset by higher natural gas costs in Europe.

Libbey reported that earnings before interest, taxes, depreciation and amortization (EBITDA) (see Table 1) were $30.5 million in the second quarter of 2008, compared with EBITDA of $31.9 million in the year-ago quarter.

As a result of Libbey’s higher debt, interest expense increased $1.2 million compared with the year-ago period.

The effective tax rate increased to 225.9 percent for the quarter, compared with 16.4 percent in the year-ago quarter. The Company’s effective tax rate increased from the year-ago quarter primarily due to the Company’s provision for income taxes being significantly impacted by the recognition of valuation allowances in certain countries, particularly the United States. Further, changes in the mix of earnings in countries with differing statutory tax rates, changes in accruals related to uncertain tax positions, tax planning structures and changes in tax laws have also impacted the effective tax rate. Libbey reported a net loss of $2.1 million, or a loss of $0.14 per diluted share, for the second quarter of 2008, compared with net income of $4.0 million, or $0.27 per diluted share, in the second quarter of 2007.

John F. Meier, chairman and chief executive officer, said, “To have achieved record second-quarter sales – and our second-highest quarterly sales performance ever – in the face of this difficult economic environment is a testimony to the soundness of the transformational strategy we put in place ten quarters ago. Clearly, our efforts to dramatically reshape our global ‘footprint’ by expanding our international manufacturing base is paying off handsomely, as we have seen strong sales of Crisa, our Mexican product line, and in our Libbey China glassware.”

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Meier continued, “Similarly, we are quite pleased with the relative strength of our total North American Glass business performance, which continues to aggressively combat unprecedented natural gas and electricity costs. We are seeing the benefits of our LEAN manufacturing efforts while continuing to provide the quality and service our customers have come to expect from Libbey.”

Six-Month Results

For the six months ended June 30, 2008, sales increased 6.6 percent to $412.1 million from $386.6 million in the year-ago period. North American Glass sales increased 4.0 percent to $282.5 million (see Table 3) from $271.7 million in the year-ago period. The increase in sales was attributable to an approximate 11 percent increase in both Crisa’s sales and in shipments to retail glassware customers in the U.S. and Canada. Partially offsetting this increase was a 6.4 percent decrease in U.S. foodservice glassware sales. As a result of lower Syracuse China sales, North American Other sales decreased 2.1 percent. International sales increased 26 percent as a result of significantly increased shipments to customers of Libbey China and favorable currency impact on European sales. Excluding the currency impact, international sales increased approximately 11.3 percent.

The Company reported income from operations of $28.2 million during the first six months of 2008, compared with income from operations of $30.9 million in the year-ago period. Factors contributing to the decrease in income from operations were lower foodservice sales, lower production activity in Mexico, as the result of a furnace rebuild, and higher natural gas costs. Higher total sales partially offset these increased costs.

EBIT was $29.5 million, compared with $33.4 million in the first six months of 2007. EBIT was $22.0 million, compared with $27.5 million in the first six months of 2007 for North American Glass, as a result of higher sales which were more than offset by an unfavorable mix of sales, decreased operating activity in Crisa’s operations and higher natural gas costs. North American Other reported EBIT for the first half of 2008 of $7.5 million, compared with $8.0 million in the year-ago period, primarily as a result of the lower sales at Syracuse China. The International segment reported EBIT of $0.1 million, compared with an EBIT loss of $2.1 million in the first six months of 2007. The improvement was primarily related to Libbey China’s increased sales and higher international sales, partially offset by higher natural gas costs in Europe.

Libbey reported that EBITDA, as detailed in Table 1, was $52.1 million in the first six months of 2008, compared with EBITDA of $53.3 million in the year-ago six-month period.

As a result of higher debt, interest expense increased $2.8 million compared with the first half of 2007.

The effective tax rate increased to a negative 6.9 percent for the first six months of 2008 compared with a negative 58.0 percent in the first half of 2007. Similar to the second

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quarter impact, the Company’s effective tax rate increased from the year-ago period primarily due to the Company’s provision for income taxes being significantly impacted by the recognition of valuation allowances in certain countries, particularly the United States. Further, changes in the mix of earnings in countries with differing statutory tax rates, changes in accruals related to uncertain tax positions, tax planning structures and changes in tax laws have also impacted the effective tax rate. Libbey reported a net loss of $5.6 million for the first six months of 2008, or a loss of $0.38 per diluted share, compared with net income of $2.2 million, or $0.15 per diluted share, in the first half of 2007.

Working Capital and Liquidity

As of June 30, 2008, working capital, defined as inventories and accounts receivable less accounts payable, increased to $244.1 million from $213.8 million at December 31, 2007, due to seasonal working capital needs and the full impact of expanded operations in China.

Free cash flow for the first six months of 2008, as detailed in the attached Table 2, was a use of $40.6 million compared with a use of $16.3 million in the first half of 2007. The primary contributors were a $19.6 million payment to Vitro S.A. made in the current year related to the purchase of Crisa in 2006 and increased working capital of $7.8 million at Libbey China, where production did not begin until late in the first quarter of 2007.

Libbey reported that it had available capacity of $71.1 million under its Asset Based Loan (ABL) credit facility as of June 30, 2008, compared with availability of $82.3 million at March 31, 2008.

Outlook for 2008

For the third quarter of 2008, the Company currently expects sales to continue to be solid, in the range of $220 million to $225 million, and EBITDA to be between $27 million and $29 million.

“As the result of our performance to date, including EBITDA within our previous guidance and expectations for ongoing energy cost pressure, we now anticipate full-year 2008 EBITDA to be in the range of $114 million to $118 million on expected sales of slightly more than $870 million,” Meier said.

Webcast Information

Libbey will hold a conference call for investors on Friday, August 1, 2008, at 11 a.m. Eastern Daylight Time. The conference call will be simulcast live on the Internet and is accessible from the Investor Relations section of www.libbey.com. To listen to the call, please go to the website at least 10 minutes early to register, download and install any

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necessary software. A replay will be available for 30 days after the conclusion of the call.

This press release includes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements only reflect the Company’s best assessment at this time and are indicated by words or phrases such as “goal,” “expects,” “ believes,” “will,” “estimates,” “anticipates,” or similar phrases. Investors are cautioned that forward-looking statements involve risks and uncertainty, that actual results may differ materially from such statements, and that investors should not place undue reliance on such statements. These forward-looking statements may be affected by the risks and uncertainties in the Company’s business. This information is qualified in its entirety by cautionary statements and risk factor disclosures contained in the Company’s Securities and Exchange Commission filings, including the Company’s report on Form 10-K filed with the Commission on March 17, 2008. Important factors potentially affecting performance include but are not limited to increased competition from foreign suppliers endeavoring to sell glass tableware in the United States and Mexico; the impact of lower duties for imported products; major slowdowns in the retail, travel or entertainment industries in the United States, Canada, Mexico, Western Europe and Asia, caused by terrorist attacks or otherwise; significant increases in per-unit costs for natural gas, electricity, corrugated packaging, and other purchased materials; higher indebtedness related to the Crisa acquisition; higher interest rates that increase the Company’s borrowing costs; protracted work stoppages related to collective bargaining agreements; increases in expense associated with higher medical costs, increased pension expense associated with lower returns on pension investments and increased pension obligations; devaluations and other major currency fluctuations relative to the U.S. dollar and the Euro that could reduce the cost competitiveness of the Company’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 and cash flow of Crisa, expressed under U.S. GAAP; the inability to achieve savings and profit improvements at targeted levels in the Company’s operations or within the intended time periods; and whether the Company completes any significant acquisition and whether such acquisitions can operate profitably. With respect to its expectations regarding the Crisa acquisition, these factors also include the ability of Vitro to supply necessary services to Crisa.

Libbey Inc.:

• is the largest manufacturer of glass tableware in the western hemisphere and one of the largest glass tableware manufacturers in the world;

• is expanding its international presence with facilities in China, Mexico, the Netherlands and Portugal;

• is the leading manufacturer of tabletop products for the U.S. foodservice industry; and

• supplies products to foodservice, retail, industrial and business-to-business customers in over 100 countries.

Based in Toledo, Ohio, for 120 years, Libbey operates glass tableware manufacturing plants in the United States in Louisiana and Ohio, as well as in Mexico, China, Portugal and the Netherlands. Its Crisa subsidiary, located in Monterrey, Mexico, is the leading producer of glass tableware in Mexico and Latin America. Its Royal Leerdam subsidiary, located in Leerdam, Netherlands, is among the world leaders in producing and selling glass stemware to retail, foodservice and industrial clients. Its Crisal subsidiary, located

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in Portugal, provides an expanded presence in Europe. Its Syracuse China subsidiary designs, manufactures and distributes an extensive line of high-quality ceramic dinnerware, principally for foodservice establishments in the United States. Its World Tableware subsidiary imports and sells a full-line of metal flatware and holloware and an assortment of ceramic dinnerware and other tabletop items principally for foodservice establishments in the United States. Its Traex subsidiary, located in Wisconsin, designs, manufactures and distributes an extensive line of plastic items for the foodservice industry. In 2007, Libbey Inc.’s net sales totaled $814.2 million.

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LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per-share amounts)
(unaudited)

	THREE MONTHS ENDED
	June 30, 2008			June 30, 2007
Net sales	$	224,828		$	207,123
Freight billed to customers		615			549
Total revenues		225,443			207,672
Cost of sales		183,275			163,483
Gross profit		42,168			44,189
Selling, general and administrative expenses		23,451			23,667
Income from operations		18,717			20,522
Other income		586			639
Earnings before interest and income taxes		19,303			21,161
Interest expense		17,620			16,429
Income before income taxes		1,683			4,732
Provision for income taxes		3,802			776
Net (loss) income	$	(2,119	)	$	3,956
Net (loss) income per share:
Basic	$	(0.14	)	$	0.27
Diluted	$	(0.14	)	$	0.27
Weighted average shares:
Outstanding		14,645			14,436
Diluted		14,645			14,672

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Dollars in thousands, except per-share amounts)
(unaudited)

	SIX MONTHS ENDED
	June 30, 2008			June 30, 2007
Net sales	$	412,104		$	386,619
Freight billed to customers		1,283			1,024
Total revenues		413,387			387,643
Cost of sales		340,882			311,039
Gross profit		72,505			76,604
Selling, general and administrative expenses		44,310			45,701
Income from operations		28,195			30,903
Other income		1,339			2,484
Earnings before interest and income taxes		29,534			33,387
Interest expense		34,771			31,993
(Loss) income before income taxes		(5,237	)		1,394
Provision (benefit) for income taxes		359			(808	)
Net (loss) income	$	(5,596	)	$	2,202
Net (loss) income per share:
Basic	$	(0.38	)	$	0.15
Diluted	$	(0.38	)	$	0.15
Weighted average shares:
Outstanding		14,612			14,399
Diluted		14,612			14,617

LIBBEY INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

	June 30, 2008			December 31, 2007			June 30, 2007
	(unaudited)						(unaudited)
ASSETS
Cash	$	17,883		$	36,539		$	15,576
Accounts receivable — net		111,849			93,333			103,423
Inventories — net		202,464			194,079			188,636
Deferred taxes		—			—			4,120
Other current assets		31,206			20,431			13,732
Total current assets		363,402			344,382			325,487
Other assets		15,687			17,221			27,098
Goodwill and purchased intangibles — net		208,728			208,091			206,624
Property, plant and equipment — net		334,229			329,777			322,848
Total assets	$	922,046		$	899,471		$	882,057
LIABILITIES AND SHAREHOLDERS’ EQUITY
Notes payable	$	1,954		$	622		$	1,381
Accounts payable		70,246			73,593			63,704
Accrued liabilities		71,334			70,112			76,081
Pension liability (current portion)		1,882			1,883			1,389
Nonpension postretirement benefits (current portion)		3,528			3,528			3,252
Payable to Vitro		—			19,575			19,704
Other current liabilities		10,554			11,558			2,641
Long-term debt due within one year		913			913			794
Total current liabilities		160,411			181,784			168,946
Long-term debt		533,834			495,099			491,142
Pension liability		69,872			71,709			80,105
Nonpension postretirement benefits		49,674			45,667			37,839
Other liabilities		9,793			12,097			8,952
Total liabilities		823,584			806,356			786,984
Common stock, treasury stock, capital in excess of par value and warrants		201,715			196,281			177,259
Retained deficit		(69,520	)		(60,689	)		(38,799	)
Accumulated other comprehensive loss		(33,733	)		(42,477	)		(43,387	)
Total shareholders’ equity		98,462			93,115			95,073
Total liabilities and shareholders’ equity	$	922,046		$	899,471		$	882,057

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands)
(unaudited)

	THREE MONTHS ENDED
	June 30, 2008			June 30, 2007
Operating activities
Net (loss) income	$	(2,119	)	$	3,956
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization		11,238			10,710
Gain on asset sales		(117	)		(6	)
Change in accounts receivable		(17,230	)		(6,366	)
Change in inventories		5,976			(10,106	)
Change in accounts payable		3,986			2,883
PIK interest		10,216			8,758
Pension & nonpension postretirement		(1,716	)		(350	)
Other operating activities		(5,154	)		(5,117	)
Net cash provided by operating activities		5,080			4,362
Investing activities
Additions to property, plant and equipment		(8,260	)		(12,833	)
Proceeds from asset sales and other		5			(116	)
Net cash used in investing activities		(8,255	)		(12,949	)
Financing activities
Net borrowings		13,914			(3,983	)
Dividends		(365	)		(360	)
Net cash provided by (used in) financing activities		13,549			(4,343	)
Effect of exchange rate fluctuations on cash		(93	)		109
Increase (decrease) in cash		10,281			(12,821	)
Cash at beginning of period		7,602			28,397
Cash at end of period	$	17,883		$	15,576

LIBBEY INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(Dollars in thousands)
(unaudited)

	SIX MONTHS ENDED
	June 30, 2008			June 30, 2007
Operating activities
Net (loss) income	$	(5,596	)	$	2,202
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization		22,534			19,926
Gain on asset sales		(124	)		(1,575	)
Change in accounts receivable		(17,460	)		(2,778	)
Change in inventories		(5,044	)		(19,566	)
Change in accounts payable		(5,912	)		(2,042	)
PIK interest		10,216			8,758
Pension & nonpension postretirement		(1,438	)		2,237
Payable to Vitro		(19,575	)		—
Other operating activities		(660	)		(2,837	)
Net cash (used in) provided by operating activities		(23,059	)		4,325
Investing activities
Additions to property, plant and equipment		(17,612	)		(22,626	)
Proceeds from asset sales and other		46			1,953
Net cash used in investing activities		(17,566	)		(20,673	)
Financing activities
Net borrowings		22,509			(9,298	)
Dividends		(729	)		(719	)
Net cash provided by (used in) financing activities		21,780			(10,017	)
Effect of exchange rate fluctuations on cash		189			175
Decrease in cash		(18,656	)		(26,190	)
Cash at beginning of period		36,539			41,766
Cash at end of period	$	17,883		$	15,576

In accordance with the SEC’s Regulation G, the following tables 1 and 2 provide non-GAAP measures used in this earnings release and a reconciliation to the most closely related Generally Accepted Accounting Principle (GAAP) measure. Libbey believes that providing supplemental non-GAAP financial information is useful to investors in understanding Libbey’s core business and trends. In addition, it is the basis on which Libbey’s management assesses performance. Although Libbey believes that the non-GAAP financial measures presented enhance investors’ understanding of Libbey’s business and performance, these non-GAAP measures should not be considered an alternative to GAAP.

Table 1

Reconciliation of Net Loss to Earnings Before Interest, Taxes,
Depreciation and Amortization (EBITDA)
(Dollars in thousands)

	Three Months ended June 30,					Six Months ended June 30,
	2008			2007		2008			2007
Reported net (loss) income	$	(2,119	)	$	3,956	$	(5,596	)	$	2,202
Add:
Interest expense		17,620			16,429		34,771			31,993
Provision (benefit) for income taxes		3,802			776		359			(808	)
Depreciation and amortization		11,238			10,710		22,534			19,926
EBITDA	$	30,541		$	31,871	$	52,068		$	53,313

Table 2

Reconciliation of Net Cash Used in Operating Activities to Free
Cash Flow
(Dollars in thousands)

	Three Months ended June 30,						Six Months ended June 30,
	2008			2007			2008			2007
Net cash provided by (used in) operating activities	$	5,080		$	4,362		$	(23,059	)	$	4,325
Capital expenditures		(8,260	)		(12,833	)		(17,612	)		(22,626	)
Proceeds from asset sales and other		5			(116	)		46			1,953
Free cash flow	$	(3,175	)	$	(8,587	)	$	(40,625	)	$	(16,348	)

Table 3
Summary Business Segment information
(Dollars in thousands)

	Three months ended June 30,						Six months ended June 30,
	2008			2007			2008			2007
Net Sales:
North American Glass	$	155,013		$	146,963		$	282,490		$	271,689
North American Other		30,120			30,490			56,703			57,925
International		41,765			32,236			78,152			62,018
Eliminations		(2,070	)		(2,566	)		(5,241	)		(5,013	)
Consolidated net sales	$	224,828		$	207,123		$	412,104		$	386,619
Earnings (Loss) before Interest & Taxes (EBIT):
North American Glass	$	14,938		$	16,549		$	22,010		$	27,484
North American Other		3,641			4,281			7,459			8,050
International		724			331			65			(2,147	)
Consolidated EBIT	$	19,303		$	21,161		$	29,534		$	33,387
Depreciation & Amortization:
North American Glass	$	6,425		$	6,441		$	12,978		$	12,203
North American Other		755			880			1,511			1,761
International		4,058			3,389			8,045			5,962
Consolidated depreciation & amortization	$	11,238		$	10,710		$	22,534		$	19,926
Reconciliation of EBIT to Net Loss:
Segment EBIT	$	19,303		$	21,161		$	29,534		$	33,387
Interest Expense		(17,620	)		(16,429	)		(34,771	)		(31,993	)
Income Taxes		(3,802	)		(776	)		(359	)		808
Net loss	$	(2,119	)	$	3,956		$	(5,596	)	$	2,202

Note:

North American Glass—includes sales of glass tableware from subsidiaries throughout the United States, Canada and Mexico.

North American Other—includes sales of ceramic dinnerware, metal tableware, holloware and serveware and plastic items.

International—includes worldwide sales of glass tableware from subsidiaries outside the United States, Canada and Mexico.