<B>Chesapeake Completes First Carton Acquisition</B>

Chesapeake Corp. completed its acquisition of First Carton Group Ltd., a European packaging supplier.

First Carton's 1999 revenues were approximately $120 million. First Carton produces cartons at six locations in the United Kingdom and Germany and employs approximately 800 people. The acquisition strongly complements Chesapeake's European packaging businesses, both in product offerings and geographic coverage, strengthening Chesapeake's mainland European presence.