Conitex Paper Cones Forms Joint Venture With Sonoco

Texpack USA announced a joint venture between its Conitex textile paper cone division and Sonoco
Products Co. The venture will be named Conitex Sonoco LLC, and will combine textile cone operations
in Gastonia, N.C.; Hartsville, S.C.; England; Spain; Indonesia; Taiwan; Mexico; Colombia and
Greece, and open-end tube operations in Cherryville and Long Shoals, N.C.

Conitex will also contribute its three paper mills located in Contoocook, N.H., Spain and
Indonesia. Texpack will own 70 percent of the joint venture. Joseph Artiga, CEO of Texpack USA,
will serve as chairman and CEO of Conitex Sonoco.

January 1999