Paperweight Development Corp. and Subsidiaries

Statement of Computation of Ratio of Earnings to Fixed Charges

(unaudited)



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|------------------------------------------------- |  | ----------------- | ------- | ----------------- | ------------- | ----------------- | ------ |  | ---- | ------ | ----------------------------------------------------- | - | ---------------------------------------------------- |  | ---- | ------ | ---- | - | ------ |  | - | ------- |  | - | -------
|                                                  |  | Six Months Ended  |         |                   |               |                   |        |  |      |        |                                                       |   |                                                      | 
|                                                  |  | (Successor Basis) |         | (Successor Basis) |               | Predecessor Basis
|                                                  |  | July 4, 2004      |         |                   | June 29, 2003 |                   | 2003   |  | 2002 |        | For the Period November 10, 2001 to December 29, 2001 |   | For the Period December 31, 2000 to November 9, 2001 |  | 2000 |        | 1999
|Net earnings from continuing operations           |  | $                 | (30,362 | )                 |               | $                 | 8,656  |  | $    | 11,159 |                                                       | $ | 10,092                                               |  | $    | 7,616  |      | $ | 37,183 |  | $ | 66,161  |  | $ | 49,893 
|Add: Income tax expense                           |  |                   | (1,159  | )                 |               |                   | 551    |  |      | 83     |                                                       |   | 503                                                  |  |      | 117    |      |   | 20,625 |  |   | 32,874  |  |   | 17,715 
|Add: Interest expense                             |  |                   | 26,538  |                   |               |                   | 26,840 |  |      | 54,160 |                                                       |   | 68,354                                               |  |      | 10,638 |      |   | 25,441 |  |   | 43,244  |  |   | 42,926 
|Minority interest in net earnings of subsidiaries |  |                   |        |                   |               |                   |       |  |      |       |                                                       |   |                                                     |  |      |       |      |   |       |  |   | 1,230   |  |   | 4,896  
|Portion of rent deemed interest factor            |  |                   | 1,782   |                   |               |                   | 1,328  |  |      | 2,662  |                                                       |   | 2,930                                                |  |      | 386    |      |   | 2,485  |  |   | 3,394   |  |   | 3,448  
|                                                  |  |                   |         |                   |               |                   |        |  |      |        |                                                       |   |                                                      |  |      |        |      |   |        |  |   |         |  |   |        
|Total earnings available for fixed charges        |  | $                 | (3,201  | )                 |               | $                 | 37,375 |  | $    | 68,064 |                                                       | $ | 81,879                                               |  | $    | 18,757 |      | $ | 85,734 |  | $ | 146,903 |  | $ | 118,878
|                                                  |  |                   |         |                   |               |                   |        |  |      |        |                                                       |   |                                                      |  |      |        |      |   |        |  |   |         |  |   |        
|Fixed charges:                                    |  |                   |         |                   |               |                   |        |  |      |        |                                                       |   |                                                      |  |      |        |      |   |        |  |   |         |  |   |        
|Interest expense                                  |  |                   | 26,538  |                   |               |                   | 26,840 |  |      | 54,160 |                                                       |   | 68,354                                               |  |      | 10,638 |      |   | 25,441 |  |   | 43,244  |  |   | 42,926 
|Portion of rent deemed interest factor            |  |                   | 1,782   |                   |               |                   | 1,328  |  |      | 2,662  |                                                       |   | 2,930                                                |  |      | 386    |      |   | 2,485  |  |   | 3,394   |  |   | 3,448  
|                                                  |  |                   |         |                   |               |                   |        |  |      |        |                                                       |   |                                                      |  |      |        |      |   |        |  |   |         |  |   |        
|Total fixed charges                               |  | $                 | 28,320  |                   |               | $                 | 28,168 |  | $    | 56,822 |                                                       | $ | 71,284                                               |  | $    | 11,024 |      | $ | 27,926 |  | $ | 46,638  |  | $ | 46,374 
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|Ratio of earnings to fixed charges                |  |                   | (0.1    | )                 |               |                   | 1.3    |  |      | 1.2    |                                                       |   | 1.1                                                  |  |      | 1.7    |      |   | 3.1    |  |   | 3.1     |  |   | 2.6    
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