---

Graham Packaging Files Registration Statement For Initial Public Offering

13 July 2000

Graham Packaging Files Registration Statement For Initial Public Offering

    YORK, Pa. - Graham Packaging Holdings Company announced today that its 
wholly owned subsidiary, GPC Capital Corp. II, has filed a registration 
statement with the Securities and Exchange Commission for an initial public 
offering of common stock in the proposed aggregate maximum offering amount of 
$220,000,000.  In addition, the underwriters will be granted an option to 
purchase an aggregate of $33,000,000 of additional shares of common stock to 
cover overallotments, if any.  All of such shares will be primary shares sold by 
the issuer.  The completion and timing of the offering are subject to market 
conditions.  The offering will be underwritten by Deutsche Banc Alex. Brown and 
Salomon Smith Barney as Joint Book-Running Lead Managers, and Goldman, Sachs & 
Co. and Lehman Brothers as co-managers.

    Graham Packaging Holdings Company is currently 85% owned by affiliates of
The Blackstone Group, certain members of management and an institutional
investor and 15% owned by the Graham Group.

    Immediately prior to the offering, Graham Packaging will effect an
internal reorganization in which the issuer, GPC Capital Corp. II, a Delaware
corporation and a wholly owned subsidiary of Graham Packaging Holdings
Company, will change its name to Graham Packaging Company Inc. and exchange
newly issued shares of its common stock for all of the partnership interests
of its existing parent, Graham Packaging Holdings Company, a Pennsylvania
limited partnership.  Upon the exchange, Graham Packaging Holdings Company
will liquidate and all of its assets will be transferred to Graham Packaging
Company Inc.

    Graham Packaging is a worldwide leader in the design, manufacture and sale
of customized blow molded plastic containers for the branded food and
beverage, household and personal care, and automotive lubricants markets with
57 plants throughout North America, Europe and Latin America.

    A registration statement relating to these securities has been filed with
the Securities and Exchange Commission but has not yet become effective.
These securities may not be sold nor may offers to buy be accepted prior to
the time the registration statement becomes effective.  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 these securities 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.