smurfit stone container 1Q08PressRelease

Smurfit-Stone Container Corporation reported a first quarter 2008 adjusted net loss of $24 million, or $0.09 per share, which was flat compared to the prior year quarter but down from adjusted net income of $23 million in the fourth quarter of 2007. The results were impacted by a charge related to Calpine Corrugated, seasonal factors, higher than expected cost inflation, and lower box shipments. Average box prices improved for the fifth consecutive quarter but were not enough to offset other negatives. The company remains focused on its transformation program to improve operations and deliver long-term shareholder value.