Exhibit 12.1



Paperweight Development Corp. and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges

(unaudited)



|                                                  |  | Nine Months Ended |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|------------------------------------------------- |  | ----------------- | ------ | ----------------- | - | ----------------- |  | ---------------------------------------------------- | ------ | -------------------------------------------------- | - | ------ |  | ---- | ------
|                                                  |  | (Successor Basis) |        | (Successor Basis) |   | Predecessor Basis | 
|                                                  |  | September 28,2003 |        | September 29,2002 |   | 2002              |  | For the PeriodNovember 10, 2001 to December 29, 2001 |        | For the PeriodDecember 31, 2000 toNovember 9, 2001 |   | 2000   |  | 1999 |       
|Net earnings from continuing operations           |  | $                 | 17,722 |                   | $ | 22,106            |  | $                                                    | 10,092 |                                                    | $ | 7,616  |  | $    | 37,183
|Add: Income tax expense                           |  |                   | 515    |                   |   | 167               |  |                                                      | 503    |                                                    |   | 117    |  |      | 20,625
|Add: Interest expense                             |  |                   | 40,157 |                   |   | 53,616            |  |                                                      | 68,354 |                                                    |   | 10,638 |  |      | 25,441
|Minority interest in net earnings of subsidiaries |  |                   |       |                   |   |                  |  |                                                      |       |                                                    |   |       |  |      |      
|Equity in net income of unconsolidated affiliates |  |                   |       |                   |   |                  |  |                                                      |       |                                                    |   |       |  |      |      
|Portion of rent deemed interest factor            |  |                   | 1,978  |                   |   | 2,181             |  |                                                      | 2,930  |                                                    |   | 386    |  |      | 2,485 
|                                                  |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|Total earnings available for fixed charges        |  | $                 | 60,372 |                   | $ | 78,070            |  | $                                                    | 81,879 |                                                    | $ | 18,757 |  | $    | 85,734
|                                                  |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|Fixed charges:                                    |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|Interest expense                                  |  |                   | 40,157 |                   |   | 53,616            |  |                                                      | 68,354 |                                                    |   | 10,638 |  |      | 25,441
|Portion of rent deemed interest factor            |  |                   | 1,978  |                   |   | 2,181             |  |                                                      | 2,930  |                                                    |   | 386    |  |      | 2,485 
|                                                  |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|Total fixed charges                               |  | $                 | 42,135 |                   | $ | 55,797            |  | $                                                    | 71,284 |                                                    | $ | 11,024 |  | $    | 27,926
|                                                  |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       
|Ratio of earnings to fixed charges                |  |                   | 1.4    |                   |   | 1.4               |  |                                                      | 1.1    |                                                    |   | 1.7    |  |      | 3.1   
|                                                  |  |                   |        |                   |   |                   |  |                                                      |        |                                                    |   |        |  |      |       



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