<PAGE>
EXHIBIT 99.1
PRESS RELEASE
For Immediate Release
Contact: Carrie Doyle (investors)
312-580-4865
Tom Lange (media)
314-746-1236
WWW.SMURFIT-STONE.COM
STONE CONTAINER CORPORATION,
A WHOLLY-OWNED SUBSIDIARY OF SMURFIT-STONE CONTAINER
CORPORATION, TO ISSUE SENIOR NOTES
CHICAGO, January 17, 2001 -- Stone Container Corporation, a wholly-owned
subsidiary of Smurfit-Stone Container Corporation (Nasdaq: SSCC), announced
today its intent to sell $500 million of Senior Notes (the "Notes").
The net proceeds of this issuance (after deduction of expenses,
discounts and call premiums) will be used to redeem approximately $495
million of its outstanding public indebtedness.
The Notes are being sold to qualified institutional buyers in
reliance on Rule 144A. The Notes will not be registered under the Securities
Act of 1933, as amended (the "Securities Act"), and, unless so registered,
may not be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act and applicable state securities laws. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of the Notes in any state in which
such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
# # #
SMURFIT-STONE CONTAINER CORPORATION IS THE PREMIER MANUFACTURER OF PAPER- AND
PAPERBOARD-BASED PACKAGING. SMURFIT-STONE HOLDS INDUSTRY-LEADING POSITIONS IN
THE PRODUCTION OF CONTAINERBOARD (INCLUDING WHITE-TOP LINERBOARD AND RECYCLED
MEDIUM), CORRUGATED CONTAINERS, INDUSTRIAL BAGS, AND CLAY-COATED RECYCLED
BOXBOARD; AND IS THE WORLD'S LARGEST PAPER RECYCLER. IN ADDITION, SMURFIT-STONE
IS A LEADING PRODUCER OF FOLDING CARTONS, SOLID BLEACHED SULFATE, PAPER TUBES
AND CORES, AND LABELS. THE COMPANY OPERATES MORE THAN 300 FACILITIES WORLDWIDE
AND EMPLOYS APPROXIMATELY 40,000 PEOPLE.
-4-
