Document:

Exhibit 10.16 Loan Agreement between Vineyard National Bancorp and First Tennessee
      Bank National Association

    Exhibit
      10.16

    
      

    

    LOAN
      AGREEMENT

    

    

    THIS
      LOAN AGREEMENT (hereinafter
      called “Agreement”) made and entered into this ____ day of March, 2006, by and
      between VINEYARD
      NATIONAL BANCORP,
      a
      California corporation, (hereinafter called “Borrower”) and FIRST
      TENNESSEE BANK NATIONAL ASSOCIATION,
      a
      national banking association having its principal office located in Memphis,
      Tennessee (“Lender”).

    

    W
      I T
      N E S S E T H :

    

      WHEREAS,
      the Borrower desires to borrow from Lender Seventy
      Million Dollars
      ($70,000,000.00). NOW, THEREFORE, in consideration of the premises and the
      mutual agreements, covenants and conditions herein contained, the parties hereto
      hereby agree as follows:

    

    AGREEMENTS

    

    1. COMMITMENT
      AND FUNDING.

    

    1.1 The
      Commitment.
      Subject
      to the terms and conditions herein set out, Lender agrees and commits to make
      a
      revolving loan (the “Loan”) to Borrower in the amount of Seventy
      Million
      Dollars
      ($70,000,000.00). Such borrowing shall be evidenced by, and shall be payable
      in
      accordance with the terms and provisions of the Note (as hereinafter defined).
      

    

    1.2 Funding.
      The
      advance of Loan proceeds hereunder shall be made, upon Borrower’s request, by
      depositing the same into a demand deposit account with Lender or wire transfer
      to Borrower’s account. The Loan to Borrower may be made, at Borrower’s request,
      in one or more advances, each of which shall be subject to the terms and
      conditions of this Agreement, including but not limited to Sections 2.1 and
      2.2
      hereof. Advances under the Loan may be requested either orally or in writing
      by
      Borrower as provided in this paragraph. Lender may, but need not, require that
      all oral requests be confirmed in writing. All communications, instructions,
      or
      directions by telephone or otherwise to Lender are to be directed to Lender’s
      office set forth below. The following persons, acting individually, currently
      are authorized to request advances and authorize payments under the Loan until
      Lender receives from Borrower, at Lender’s address set forth below, written
      notice of revocation of their authority: Norman Morales, President & Chief
      Executive Officer of Borrower, Gordon Fong, Chief Financial Officer of Borrower,
      or Terry Snavely, Senior Vice President of Borrower. 

    

    1.3 Prepayments.
      The
      Borrower may, at its option, at any time and from time to time, without
      prepayment penalty or premium, prepay the Loan in whole or in part; provided,
      however, that any such prepayment of principal shall be accompanied by the
      payment of accrued interest on the amount of such prepayment to the date
      thereof. Any such prepayment shall be applied to reduce the principal
      installments under the Note in the inverse order of their maturities, and shall
      not have the effect of suspending or deferring payments thereunder. Principal
      amounts repaid by Borrower under the Loan may be re-borrowed from time to time
      commencing on the date of execution of the promissory note (the “Closing Date”)
      through the Maturity Date in accordance with this Agreement and the other Loan
      Documents (defined below). 

    

    1.4 Interest
      Rate.
      The
      Loan indebtedness evidenced by the Note shall bear interest from date at the
      variable rate determined in accordance with the terms and provisions of the
      Note
      which will be 90-day LIBOR (as defined in the Note) plus 225 basis
      points.

     

    1.5
      Maturity.
      The
      line of credit will expire 364 days from the Closing Date (the “Maturity
      Date”).

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    

    2. CONDITIONS
      OF LENDING.

    

    2.1 Loan
      Documents.
      The
      obligation of Lender to fund the Loan is subject to the condition precedent
      that
      Lender shall have received at or before the execution of this Agreement all
      of
      the following in form and substance satisfactory to Lender.

    

    a) A
      promissory note evidencing the Loan, in a form and substance acceptable to
      Borrower and Lender, executed by Borrower, as maker (such promissory note
      together with any renewals, modifications and extensions thereof is herein
      referred to as the “Note”);

    

    	b)  	
            This
              Loan Agreement;

          

    

    	c)  	
            Current
              certificates of good standing for the Borrower in the State of
              California;

          

    

    	d)  	
            Certified
              corporate resolutions of Borrower authorizing the execution, delivery
              and
              performance of this Loan Agreement and of the other instruments and
              documents to be executed and delivered in connection herewith, and
              a
              certified copy of Borrower’s charter and
              bylaws;

          

    

    	e)  	
            True
              and exact copies of the current financial statements of the Borrower
              and
              its subsidiary, Vineyard Bank (hereinafter called “Bank”). It being
              understood that Lender is relying upon such audit report and opinion
              in
              entering into this Loan Agreement including the unaudited financial
              statements of Borrower and Bank as of December 31, 2005 and the December
              31, 2005 F.R. Y-6 Annual Report and F.R. Y-9 Parent Company only (and
              Consolidated, if applicable) financial statement(s) filed by Borrower
              with
              the Federal Reserve;

          

    

    	f)  	
            The
              opinion of Borrower’s independent, third party counsel in the form
              approved by Lender, as to the due organization and valid existence
              of
              Borrower, the due authorization and execution by Borrower of the Loan
              Documents, the validity and enforceability of the Loan Documents against
              Borrower and such other matters as Lender shall require;
              and

          

    

    	g)  	
            The
              Pledge and Security Agreement (hereinafter called “Pledge Agreement”),
              executed by Borrower, granting to Lender a security interest in 100%
              of
              Borrower’s capital stock in Vineyard Bank (“Pledged Shares”) as security
              for the Line of Credit, together with irrevocable stock powers executed
              in
              blank with respect to such Pledged Shares, and the original certificates
              representing such Pledged Shares.

          

    

    The
      Note,
      this Loan Agreement, and any other documents executed by Borrower in connection
      herewith shall be referred to hereinafter as the “Loan Documents”.

    

    2.2 Other
      Conditions.
      The
      obligation of the Lender to fund the Loan is subject to each of the following
      further terms and conditions:

    

    a) At
      the
      time of funding, each of the Loan advances hereunder and each of Borrower’s
      warranties and representations contained herein shall be and remain true and
      correct in all material respects. In addition, no Event of Default (as defined
      in Section 6 hereof) shall have occurred and be continuing, and, if requested
      by
      Lender, Borrower shall execute a certificate verifying each of such matters
      to
      be true in all respects, if such be the case.

    

    b)
      At the
      time the loan is funded hereunder, there shall have occurred, in the reasonable
      opinion of Lender, no material adverse changes in the condition, financial
      or
      otherwise, of Borrower or its Bank from that reflected in the financial
      statements furnished pursuant to Section 2.1 hereof, including without
      limitation any such material adverse change resulting from or following the
      Conversion or a Merger, as defined below.

    
      
         

         

      

      
        2

        
          

        

      

      
         

      

    

    3. REPRESENTATIONS
      AND WARRANTIES.

    

    In
      order
      to induce the Lender to enter into this Agreement and to make the Loan, the
      Borrower represents and warrants to the Lender (which representations and
      warranties shall survive the delivery of the Loan Documents and the funding
      of
      the Loan) that:

    

    3.1 Corporate
      Status.
      Borrower is a corporation duly organized and existing under the laws of the
      State of California, is duly qualified to do business and is in good standing
      under the laws of the State of California, and has the corporate power and
      authority to own its properties and assets and conduct its affairs and business.
      Lender acknowledges that Borrower has notified Lender of its intent to convert
      the Bank to a national bank and/or convert the Borrower to a financial holding
      company (collectively, the “Conversion”). Concurrently with such Conversion,
      Borrower shall execute, deliver, provide and perform any documents and
      instruments reasonably required by Lender to ensure the continuing validity,
      priority and enforceability of the Loan, the Loan Documents and the liens
      created thereunder notwithstanding such Conversion.

    

    3.2 Corporate
      Power and Authority.
      Borrower has full power and authority to enter into this Agreement, to borrow
      funds contemplated herein, to execute and deliver this Agreement, the Note
      and
      other Loan Documents executed and delivered by it, and to incur the obligations
      provided for herein, all of which have been duly authorized by all proper and
      necessary corporate action; and the officer executing each of the Loan Documents
      is duly authorized to do so by all necessary corporate action. Any consents
      or
      approval of shareholders or directors of Borrower required as a condition to
      the
      validity of any Loan Document have been obtained; and each of said Loan
      Documents is the valid, legal, and binding obligation of Borrower enforceable
      in
      accordance with its terms.

    

    3.3 No
      Violation of Agreements or Law.
      To
      Borrower’s knowledge, neither Borrower nor Bank is in default under any
      indenture, agreement or instrument to which it is a party or by which it may
      be
      bound, nor in violation of any state or federal statute, rule, ruling, or
      regulation governing its operations and the conduct of its business, operations
      or financial condition of Borrower or Bank. Neither the execution and delivery
      of the Loan Documents nor the consummation of the transactions herein
      contemplated, or compliance with the provisions hereof will conflict with,
      or
      result in the breach of, or constitute a default under, any indenture, agreement
      or other instrument to which Borrower is a party or by which it may be bound,
      or
      result in the creation or imposition of any lien, charge or encumbrance upon
      any
      of the property of Borrower except for the security interest in Borrower’s
      common stock of the Bank as set forth herein, or violate or be in conflict
      with
      any provision of the charter or bylaws of Borrower.

    

    3.4 Compliance
      With Law; Government Approvals.

    

    (a)
      To
      Borrower’s knowledge, Borrower has complied and is complying with all
      requirements, made all applications, and submitted all reports required by
      The
      Bank Holding Company Act of 1956, as amended, and any regulations or rulings
      issued in connection therewith, and the transaction contemplated hereby will
      not
      violate any such statutes, rules, rulings, or regulations nor will the
      consummation of said actions and transactions cause Borrower to be in violation
      thereof. Borrower has, if required, received all governmental approvals
      necessary for the consummation of the transactions described herein.

    

    (b) To
      Borrower’s knowledge, Borrower has complied and is complying with all other
      applicable state or federal statutes, rules, rulings and regulations. To
      Borrower’s knowledge, the borrowing of money as described herein and said
      actions and transactions will not violate any of such statutes, rules, rulings,
      or regulations. Borrower has, if required, made all filings and received all
      governmental or regulatory approvals necessary for the consummation of the
      transactions described herein.

    

    3.5 Litigation.
      There
      are no actions, suits or proceedings pending or, to the knowledge of the
      Borrower, threatened against before any court, arbitrator or governmental or
      administrative body or agency which, if adversely determined, would result
      in
      any material and adverse change in the financial condition, business operation,
      or properties or assets of the Borrower or Bank. Without limiting the generality
      of the foregoing, neither Borrower nor Bank is subject to any Supervisory Action
      (herein defined) by any federal or state bank regulatory authority. As used
      herein, “Supervisory Action” shall mean and include the issuance by any bank
      regulatory authority of a letter agreement or memorandum of understanding
      (regardless of whether consented or agreed to by the party to whom it is
      addressed); or the issuance by or at the behest of any bank regulatory authority
      of a cease and desist order, injunction, directive, restraining order, notice
      of
      charges, or civil money penalties, against Borrower, Bank or the directors
      or
      officers of either of them, whether temporary or permanent.

    

    
      
         

      

      
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    3.6 Financial
      Condition.
      The
      balance sheets and the related statements of income of Borrower and Bank, which
      have been delivered to the Lender pursuant to Section 2.1 hereof and the
      financial reports of Borrower and Bank which will be delivered to Lender
      pursuant to Section 4.5 hereof are, or will be as of their respective dates
      and
      for the respective periods stated therein, complete and correctly and fairly
      present the financial condition of Borrower and Bank, and the results of their
      operations, respectively, as of the dates and for the periods stated therein,
      and have been, or will be as of their respective dates and for the respective
      periods stated therein, prepared in accordance with generally accepted
      accounting principles consistently applied throughout the period involved.
      There
      has been no material adverse change in the business, properties or condition
      of
      Borrower or Bank since the date of the financial statement furnished to Lender
      pursuant to Section 2.1 hereof.

    

    3.7 Tax
      Liability.
      Borrower and Bank have filed all tax returns which are required to be filed
      by
      them, and have paid all taxes which have become due pursuant to such returns
      or
      pursuant to any assessments received by them.

    

    3.8 Subsidiaries.
      As of
      the date first above written, Borrower has no subsidiaries and owns stock in
      no
      corporation or banking association other than Bank; and, other than Vineyard
      Service Corporation, Inc., a California corporation, Bank has no subsidiaries
      and owns no stock in any other corporation.

    

    3.9 Bank
      Stock.
      The
      Pledged Shares are duly authorized and validly issued by the Bank and include
      all of Borrower’s common stock in the Bank. The total number of shares of common
      stock of the Bank issued and outstanding as of the date hereof is 1,218,700
      shares, of which all 1,218,700 shares are being pledged for this transaction.
      The Pledged Shares are free and clear of all liens, encumbrances, security
      interests or pledges except the pledge to Lender described herein; said Pledged
      Shares are fully paid and non-assessable; the Bank stock certificates delivered
      to Lender pursuant to the Pledge Agreement will be genuine and comply with
      applicable laws concerning form, content, and manner of preparation and
      execution; there are no outstanding warrants or options to acquire any common
      stock of the Bank; there are no outstanding securities convertible or
      exchangeable into shares of common stock of the Bank; there are no restrictions
      on the transfer or pledge of any shares of common stock of the Bank; Borrower
      has the right to pledge and transfer the Pledged Shares and assign the income
      therefrom without obtaining the consent of any other person or entity; and
      the
      Pledge Agreement creates for the benefit of Lender a first security interest
      in
      the Pledged Shares, subject to no other interests or claims. 

    

    4.0 AFFIRMATIVE
      COVENANTS.
      Borrower covenants and agrees that, until the Note together with interest
      thereon is paid in full, unless specifically waived by the Lender in writing,
      Borrower will, or will cause Borrower and Bank to:

    

    4.1 Business
      and Existence.
      Both
      preceding and following any Conversion, perform all things necessary to preserve
      and keep in full force and effect the existence, rights and franchises of
      Borrower and Bank and to comply with all laws and regulations then applicable
      to
      Borrower and Bank, including, but not limited to, laws and regulations of state
      and federal authorities applicable to banks, bank holding companies and/or
      financial holding companies.

    

    4.2 Maintain
      Property.
      Maintain, preserve, and protect all properties used or useful in the conduct
      of
      Borrower’s and Bank’s business and keep the same in good repair, working order
      and condition.

    

    4.3 Insurance.
      At all
      times keep the insurable properties of Borrower and Bank adequately insured
      and
      maintain in force (i) insurance, to such an extent and against such risks,
      including fire, as is customary with companies in the same or similar business,
      (ii) necessary workmen’s compensation insurance, fidelity bonds and directors’
and officers’ insurance coverage in amounts reasonably satisfactory to Lender,
      and (iii) such other insurance as may be required by law; and if reasonably
      requested by Lender, deliver to the Lender a copy of the bonds and policies
      providing such coverage and a certificate of Borrower’s or Bank’s chief
      executive officer, as the case may be, setting forth the nature of the risks
      covered by such insurance, the amount carried with respect to each risk, and
      the
      name of the insurer.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    4.4 Taxes
      and Liens.
      Pay and
      discharge promptly all taxes, assessments, and governmental charges or levies
      imposed upon Borrower or Bank or upon any of their respective income and
      profits, or their properties, real, personal or mixed, or any part thereof,
      before the same shall become delinquent; provided, however, that Borrower and
      Bank shall not be required to pay and discharge or to cause to be paid and
      discharged any such tax, assessment, charge, levy or claim so long as the amount
      or validity thereof shall be contested in good faith by appropriate
      proceedings.

    

    4.5 Financial
      Reports.
      Furnish
      to Lender (a) as soon as available and in any event within ninety (90) days
      after the end of each calendar year, consolidated and consolidating balance
      sheets of Borrower and Bank, as of the end of such year and consolidated and
      consolidating statements of income of Borrower and Bank for the year then ended,
      together with the audit report and opinion of independent Certified Public
      Accountants acceptable to the Lender with respect thereto, such audit report
      and
      opinion shall contain no exceptions or qualifications unacceptable to Lender;
      (b) promptly upon receipt, copies of all management letters and other
      assessments and recommendations, formal or informal, submitted by the Certified
      Public Accountants to Borrower or Bank; (c) a copy of Borrower’s FR Y-9 Parent
      Company Only (and Consolidated, if applicable) financial statement(s) and (d)
      a
      copy of Borrower’s F.R. Y-6 Annual Report promptly upon the filing of the same
      with the Federal Reserve Board; and (e) a copy of Bank’s Quarterly Report of
      Condition and Income (“Call Report”) promptly upon the filing with the
      appropriate regulatory agency. The parties hereto acknowledge and agree that
      Borrower’s filing of its Form 10K report with the Securities and Exchange
      Commission shall satisfy the provisions of clause (a) of the preceding
      sentence.

    

    4.6 Regulatory
      Examinations.
      If
      legally permitted to do so, (a) promptly notify Lender upon receipt of any
      material correspondence, report, memoranda or other written communication
      between any federal or state regulatory body or authority, with respect to
      the
      properties, loans, operations and/or condition of Borrower, Bank or both; and
      (b) if required by Lender following an Event of Default (defined below), fully
      and completely assist and cooperate with Lender in requesting approval by such
      regulatory body or authority of the furnishing to Lender of any such report,
      and
      furnish such report to Lender if such approval is given; provided, however,
      that
      Lender shall take such steps as may be necessary to assure that all such reports
      shall remain confidential and shall be used by Lender solely in connection
      with
      the administration of the Loan in accordance with the provisions of this
      Agreement.

    

    4.7 Additional
      Information.
      Furnish
      such other information regarding the operations, business affairs and financial
      condition of Borrower and Bank as Lender may from time to time reasonably
      request, including but not limited to true and exact copies of any monthly
      management reports to their respective directors, their respective tax returns,
      and all information furnished to shareholders.

    

    4.8 Right
      of Inspection.
      Except
      to the extent, if any, prohibited by applicable law, permit any person
      designated by Lender, to inspect any of the properties, books and financial
      and
      other reports and records of Borrower and Bank, including, but not limited
      to,
      all documentation and records pertaining to Bank’s loans, investments and
      deposits; and to discuss their affairs; finances and accounts with Borrower’s
      and Bank’s principal officers, at all such reasonable times and as often as
      Lender may reasonable request; provided, however, prior to the occurrence of
      an
      Event of Default, such inspections shall occur no more frequently than once
      per
      calendar quarter; provided, further, however, that Lender shall, and shall
      cause
      each person designated by Lender to conduct such inspections to, take such
      steps
      as may be necessary, to assure that all such inspections, together with the
      information resulting therefrom, shall remain confidential and shall be used
      by
      Lender and such persons solely in connection with the administration of the
      Loan
      in accordance with the provisions of this Agreement. 

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    4.9 Notice
      of Default.
      At the
      time of Borrower’s first knowledge or notice, furnish the Lender with written
      notice of the occurrence of any event or the existence of any condition which
      constitutes or upon written notice or lapse of time or both would constitute
      a
      default or an Event of Default under the terms of this Loan
      Agreement.

    

    4.10 Compliance
      with Banking Regulations.
      At all
      times be in compliance with, cause Bank to be in compliance with, all banking,
      bank holding company and other laws, rules and regulations applicable to
      Borrower or Bank.

    

    4.11 Capital
      Ratio/Equity Capital Adequacy.
      Borrower and Bank shall maintain at all times a “Well Capitalized” rating as
      required by any applicable regulatory authority as such requirement may be
      revised from time to time; provided, however, Borrower shall maintain a
      consolidated leverage ratio (Tier 1 Capital to tangible assets) of not less
      than
      Seven Percent (7.00%) and Bank not less than $191,961,000 in Capital. For
      purposes hereof, “Tier 1 Capital” is defined in Appendix A to Title 12, Code of
      Federal Regulations, Part 225n, Capital Adequacy Guidelines for Bank Holding
      Companies.

    

    4.12 Loan
      Loss Reserves.
      With
      respect to Bank, maintain at all times loan loss reserves in amounts deemed
      adequate by all federal and state regulatory authorities.

    

    4.13 Compliance
      Certificate. Furnish
      Lender a certificate of compliance duly certified by the Chief Financial Officer
      of Borrower within thirty (30) days after the end of each calendar quarter
      stating that Borrower and Bank are in compliance with all terms, covenants
      and
      conditions of this Loan Agreement and all related Loan Documents.

    

    5.0 NEGATIVE
      COVENANTS.
      Borrower covenants and agrees that, until the indebtedness evidenced by the
      Note, together with interest, is paid in full, Borrower will not, without the
      prior written consent of the Lender:

    

    5.1 Indebtedness.
      Create,
      incur, assume or suffer to exist, contingently or otherwise, any indebtedness,
      except for the following indebtedness:

    

     
      i) the
      indebtedness of Borrower under the Loan;

    

     
      ii) operating
      expenses incurred by Borrower in the ordinary course of business;

    

    	iii)  	
            indebtedness
              reflected on Borrower’s financial statements dated as of December 31,
              2005; 

          

    

    	iv)  	
            federal
              funds purchased and borrowings from the Federal Home Loan Bank in the
              ordinary course of business;

          

    

    	v)  	
            that
              certain proposed borrowing base revolving line of credit secured by
              a
              portion of the Bank’s construction loan portfolio to be made by Lender, as
              “Lead Bank,” and such other lenders that may participate in such loan;
              

          

    

    	vi)  	
            any
              indebtedness contemplated under that certain Form S-3 Registration
              Statement under the Securities Act of 1933 filed with the Securities
              and
              Exchange Commission August 31, 2005; and

          

    

    	vii)  	
            Any
              indebtedness that is not superior or senior in the right of payment
              to the
              Loan.

          

    

    5.2 Dividends,
      Redemptions and Other Payments.
      Declare
      or pay any dividends if an Event of Default has occurred and is continuing
      under
      this Agreement or the payment of a dividend would create an Event of Default.
      The payment of any dividend shall in all respects comply with the Rules and
      Regulations of the Federal Reserve Board.

     

    
      
         

      

      
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    5.3 Capital
      Expenditures.
      Make or
      become committed to make, or permit Bank to make or to become committed to
      make,
      directly or indirectly, during any calendar year, capital expenditures which
      for
      Borrower and Bank exceed amounts deemed acceptable to applicable regulatory
      authorities.

    

    5.4 Relocation.
      Cause
      or permit Borrower or the bank to relocate their principal office, principal
      banking office, principal registered office or approved charter location except
      as deemed acceptable to applicable regulatory authorities. Lender will not
      unreasonably withhold its consent to a relocation as set forth in the preceding
      sentence. Notwithstanding the provisions of the preceding sentence, Lender
      hereby consents to the Conversion, subject to the provisions of Section
      3.1.

    

    5.5 Sale
      of Assets.
      Sell,
      lease, transfer or dispose of all or any material part of its assets, including
      the assets of any of its subsidiaries, other than in the normal course of
      business.

    

    5.6 Mergers,
      Consolidations and Restructuring.
      Merge,
      consolidate with any entity or restructure, or allow the Bank to merge,
      consolidate with any entity, or restructure (collectively, a “Merger”) other
      than (i) the Conversion (subject to Section 3.1 hereof), and (ii) one or more
      Merger transactions where the Borrower or the Bank (as applicable) is the
      surviving entity and, concurrently with such Merger, Borrower or the Bank (as
      applicable) executes, delivers, provides and performs any documents and
      instruments reasonably required by Lender to ensure the continuing validity,
      priority and enforceability of the Loan, the Loan Documents and the liens
      created thereunder notwithstanding such Merger.

    

    5.7 Stock.
      Sell,
      transfer or otherwise dispose of or further encumber any Pledged Shares or
      permit the Bank to issue additional shares of stock or rights, options or
      securities convertible into capital stock of the Bank except in connection
      with
      a Merger contemplated under (and subject to the terms and conditions of) clause
      (ii) of Section 5.6 hereof.

    

    5.8 Charter
      or By-Law Amendments.
      Other
      than in connection with the Conversion (subject to Section 3.1 hereof) or a
      Merger contemplated under (and subject to the terms and conditions of) clause
      (ii) of Section 5.6 hereof, adopt, amend or enter into, as applicable (or permit
      the Bank to adopt, amend or enter into, as applicable), any charter, articles
      of
      incorporation, bylaws or other provisions or agreements that would affect in
      any
      way the rights, obligations and/or preferences of the Pledged
      Shares.

    

    6.0 DEFAULT
      AND REMEDIES.

    

    6.1 Events
      of Default.
      Any one
      or more of the following events shall constitute a default (“Event of Default”)
      under the terms of this Agreement:

    

    (a) Default
      in the payment when due of the principal of or interest on the
      Note.

    

    (b) Default
      in the performance of any provisions or breach of any covenant of this Agreement
      or any other Loan Document.

    

    (c) If
      any
      representation or warranty or any other statement of fact contained herein,
      in
      any other Loan Document, or in any writing, certificate, or report or statement
      at any time furnished to Lender pursuant to or in connection with this Agreement
      shall prove to be false or misleading in any material respect.

    

    (d) If
      Borrower or Bank files a petition in bankruptcy or seeks reorganization or
      arrangements under the Bankruptcy Code (as it now exists or as amended); is
      unable or admits in writing its inability to pay its debts as they become due
      or
      is not generally paying its debts as they come due; makes an assignment for
      the
      benefit of creditors; has a receiver, custodian or trustee appointed voluntarily
      or involuntarily, for its property; or is adjudicated bankrupt; or if an
      involuntary petition is filed in bankruptcy, for reorganization or arrangements,
      or for the appointment of a receiver, custodian or trustee of Borrower or Bank
      on their respective properties and if Borrower or Bank either acquiesce therein
      or fails to have such petition dismissed within sixty (60) days of the filing
      thereof.

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (e) If
      Bank
      shall fail to maintain an annualized return on total average assets of at least
      Ninety
      one hundredths of one percent (.90%)
      as of
      the date of all financial reports required by regulatory authorities. “Total
      average assets” shall be deemed to mean the year-to-date average of total assets
      of Bank.

    

    (f) If
      the
      Bank’s non-performing loans exceed Two
      and one quarter percent (2.25%)
      of the
      Bank’s gross loans. For purposes hereof, “non-performing loans” shall be defined
      as the sum of all loans whose installments or prepayments are 90 days or more
      past due plus all loans that are on non-accrual plus those loans which have
      been
      renegotiated (as defined by the regulatory agencies) or restructured to provide
      a reduction in either interest or principal because of a deterioration in the
      financial position of the borrower.

    

    (g) If
      there
      shall at any time occur without the prior written approval of Lender a change
      in
      control (including any change in control under the Change in Bank Control Act
      of
      1978, as amended, and any transaction or restructuring which requires approval
      under the Bank Holding Company Act of 1956, as amended) of Bank or
      Borrower.

    

    (h) If
      there
      shall occur the issuance by or at the request of any bank regulatory authority
      of any Supervisory Action (as defined in Section 3.5 hereof) or the taking
      by
      Borrower or Bank of any action of the sort described in Section 3.5 to prevent
      or forestall the imposition by such bank regulatory authority of any such
      Supervisory Action.

    

    (i) If
      Borrower or Bank shall default beyond any applicable cure or grace period in
      the
      timely payment or performance of any obligation now or hereafter owed to Lender
      in connection with any other loan facility of Borrower or Bank now or hereafter
      owed to Lender.

    

    6.2 Cure
      Periods.
      If any
      Event of Default, other than a payment default (whether of principal, interest
      or any other sum required to be paid under any Loan Documents) or a default
      under paragraphs 6.1(d) or 6.1(i) hereof, is curable and if Borrower has not
      been given notice of a breach of the same provision of this Agreement within
      the
      preceding twelve (12) months, it may be cured if Borrower, after receiving
      written notice from Lender demanding cure of such Event of Default: (1) cures
      the default within fifteen (15) days after receipt of such notice; or (2) if
      the
      cure requires more than fifteen (15) days, immediately initiates steps which
      Lender deems in its reasonable discretion to be sufficient to cure the default
      and thereafter continues and completes all reasonable and necessary steps to
      cure the default within ninety (90) days after delivery of Lender’s original
      default notice.

    

    6.3 Remedies.
      If an
      Event of Default shall occur, at any time thereafter, Lender may, at its option
      without demand or notice (except as otherwise provided herein), the same being
      expressly waived, declare the Loan, with interest thereon, to be immediately
      due
      and payable, and may proceed to exercise all rights and remedies available
      under
      the Loan Documents, at law or in equity, concurrently or sequentially, in such
      order as Lender may elect, all such rights and remedies being cumulative.

    

    7.0 MISCELLANEOUS.

    

    7.1 Amendments.
      The
      provisions of this Loan Agreement and the other Loan Documents may be amended
      or
      modified only by an instrument in writing signed by the parties
      thereto.

    

    7.2 Notices.
      All
      notices and other communications provided for hereunder shall be in writing
      and
      shall be mailed, certified mail, return receipt requested or personally
      delivered or delivered by recognized overnight courier service such as Federal
      Express, if to the Borrower, at 8105 Irvine Center Drive, Suite 600, Irvine,
      CA
      92618 attention: Gordon Fong, CFO, and if to the Lender, to it at 845 Crossover
      Lane, Suite 150, Memphis, Tennessee, 38117, Attention: Correspondent Services;
      or as to any such person at such other address as shall be designated by such
      person in a written notice to the other parties hereto complying as to delivery
      with the terms of this Section 7.2. All such notices and other communications
      shall be effective (i) if mailed, when received or three business days after
      mailing, whichever is earlier; or (ii) if personally delivered, upon delivery;
      or (iii) if sent by a recognized overnight courier service, on the next business
      day after being deposited with such overnight courier service.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    7.3 No
      Waiver, Cumulative Remedies.
      No
      failure to exercise and no delay in exercising, on the part of the Lender,
      any
      right, power or privilege hereunder, shall operate as a waiver thereof, nor
      shall any single or partial exercise of any right, power or privilege hereunder
      preclude any other or further exercise thereof or the exercise of any other
      right, power or privilege. Waiver of any right, power, or privilege hereunder
      or
      under any instrument or document now or hereafter evidencing or securing the
      Loan is a waiver only as to the specified item. The rights and remedies herein
      provided are cumulative and not exclusive of any rights or remedies provided
      by
      law.

    

    7.4 Binding
      Effect.
      This
      Loan Agreement shall be binding upon, and inure to the benefit of the parties
      hereto and their respective heirs, successors, and assigns, except that Borrower
      shall not have the right to assign its rights hereunder or any interest therein
      without the prior written consent of Lender.

    

    7.5 Governing
      Law.
      This
      Loan Agreement shall be governed and construed in accordance with the laws
      of
      the State of Tennessee.

    

    7.6 Venue
      of Actions.
      As an
      integral part of the consideration for the making of the Loan hereunder, it
      is
      expressly understood and agreed that no suit or action shall be commenced by
      Borrower, or by any successors, personal representatives or assignees of it,
      with respect to the Loan contemplated hereby, or with respect to any of the
      Loan
      Documents, other than in a state court of competent jurisdiction in and for
      the
      County of the State in which the principal place of business of the Lender
      is
      situated, or in the United States District Court for the District in which
      the
      principal place of business of the Lender is situated, and not elsewhere.
      Nothing in this paragraph contained shall prohibit Lender from instituting
      suit
      in any court of competent jurisdiction for the enforcement of its rights
      hereunder or under any other Loan Document, but the parties stipulate and agree
      that the courts specified in the preceding sentence of this section shall be
      an
      appropriate forum for any such suit.

    

    7.7 Terminology;
      Section Headings.
      All
      personal pronouns used in this Loan Agreement whether used in the masculine,
      feminine, or neuter gender, shall include all other genders; and the singular
      of
      any such pronoun or of any term defined herein shall include the plural, and
      vice versa. Section headings are for convenience only and neither limit nor
      amplify the provisions of this Loan Agreement.

    

    7.8 Enforceability
      of Agreement.
      Should
      any one or more of the provisions of this Loan Agreement be determined to be
      illegal or unenforceable, all other provisions nevertheless, shall remain
      effective and binding on the parties hereto. In the event that the provisions
      of
      the Note or this Loan Agreement governing the determination of the rate of
      interest on the Loan should be construed by a court of competent jurisdiction
      not to constitute a valid, enforceable designation of a rate of interest or
      method of determining the same, the Loan indebtedness shall bear interest at
      the
      maximum effective variable contract rate which may be charged by Lender under
      applicable law from time to time in effect.

    

    7.9 Interest
      Limitations.
      It is
      the intention of the parties hereto to comply strictly with all applicable
      usury
      laws; and, accordingly, in no event and upon no contingency shall Lender ever
      be
      entitled to receive, collect, or apply as interest any interest, fees, charges
      or other payments equivalent to interest, in excess of the maximum rate for
      which Borrower may lawfully contract under applicable law, from time to time
      in
      effect. Any provision hereof, or of any other agreement executed by Borrower
      that would otherwise operate to bind, obligate or compel Borrower to pay
      interest in excess of such maximum lawful rate shall be construed to require
      the
      payment of the maximum rate only. The provisions of this paragraph shall be
      given precedence over any other provisions of this paragraph shall be given
      precedence over any other provisions contained herein or in any other agreement
      applicable to the Loan, that is in conflict with the provisions of this
      paragraph.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    7.10 Non-Control.
      In no
      event shall Lender’s rights hereunder be deemed to indicate that Lender is in
      control of the business, management or properties of Borrower or Bank or has
      power over the daily management functions and operating decisions made by
      Borrower or Bank.

    

    7.11 Fees
      and Expenses.
      Borrower agrees to pay Lender a fee of Ten Thousand Dollars ($10,000) for actual
      out-of-pocket expenses, including due diligence expenses, incurred by Lender
      in
      connection with the development, preparation, execution, recording of loan
      and
      loan documents. In addition to such $10,000.00, Borrower shall pay Lender’s
      legal fees. Any expenses related to future amendment, administration or
      enforcement of, or the preservation of any rights under this Loan Agreement
      and
      the other Loan Documents, or the collection of the Loan therefore will also
      be
      at the expense of the Borrower.

    

    7.12 Indemnification.
      Borrower hereby agrees to indemnify Lender against, and hold Lender harmless
      from, any and all claims, suits and damages asserted against Lender by any
      person or entity arising out of or asserted with respect to the transactions
      contemplated by this Loan Agreement and shall pay all attorneys’ fees and costs
      in connection with the defense of any such claim; provided, however, Borrower
      shall have no obligation to indemnify Lender to the extent such claims, suits
      or
      damages arise from or relate to Lender’s gross negligence or willful
      misconduct.

    

    7.13 Borrower’s
      Knowledge.
      As used
      herein, the terms “to the knowledge of the Borrower,” “Borrower’s first
      knowledge or notice,” and “to Borrower’s knowledge” shall mean the knowledge of
      the officers and employees of the Bank directly engaged in the transactions
      contemplated under the Loan Documents. 

    

    7.14 Further
      Assurances.
      Borrower agrees to furnish a current financial statement upon the request of
      Lender from time to time, and further agrees to execute and deliver all other
      instruments and take such other actions as Lender may from time to time
      reasonably request in order to carry out the provisions and intent
      hereof.

    

    7.15 Waiver
      of Right to Trial by Jury.
      EACH
      PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY
      OF
      ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (A) ARISING UNDER THIS AGREEMENT
      OR
      ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
      HEREWITH OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
      DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS AGREEMENT
      OR
      ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
      HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH WHETHER NOW
      EXISTING OR HEREAFTER ARISING: AND EACH PARTY HEREBY AGREES AND CONSENTS THAT
      ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT
      TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL
      COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF
      THE
      CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
      JURY.

    

    [SIGNATURES
      ON FOLLOWING PAGE]

    

    
      
         

         

      

      
        10

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, Borrower and Lender have caused this Agreement to be duly
      executed by their respective officers thereunto duly authorized as of the day
      and year first above written.

    

    

    BORROWER

     

    VINEYARD
      NATIONAL BANCORP

    

    

    By:_/s/
      Gordon Fong___________________________

    

    Name:_Gordon
      Fong ____________________________

    

    Title:_Executive
      Vice President and Chief Financial Officer

    

    

    ATTEST

    

    

    By:_/s/
      Terry Snavely___________________________

    

    Name:_Terry
      Snavely___________________________

    

    Title:_Senior
      Vice President and Controller___________

    

     

    LENDER

    

    FIRST
      TENNESSE BANK, 

    National
      Association

    

    

    By:_/s/
      David House___________________________

    

    Name:_David
      House___________________________

     

    Title:_Vice
      President___________________________

     

     

    
      
         

      

      
        11PURCHASE AGREEMENT

                                 by and between

                                  AMCOR LIMITED

                                       and

                              SILGAN HOLDINGS INC.

                                   dated as of

                                February 22, 2006

<PAGE>

                                TABLE OF CONTENTS

ARTICLE I DEFINITIONS AND INTERPRETATION......................................4

    Section 1.1     Definitions...............................................4
    Section 1.2     Interpretation...........................................18

ARTICLE II PURCHASE AND SALE OF PURCHASED EQUITY AND
    PURCHASED ASSETS.........................................................19

    Section 2.1     Equity Purchase..........................................19
    Section 2.2     Asset Purchase...........................................20
    Section 2.3     Assumption of Liabilities................................22
    Section 2.4     Purchase Price...........................................24
    Section 2.5     Post Closing Adjustment..................................25
    Section 2.6     Allocation of Purchase Price.............................28

ARTICLE III THE CLOSING......................................................29

    Section 3.1     Time and Place of Closing................................29
    Section 3.2     Selling Parties' Deliveries..............................29
    Section 3.3     Silgan's Deliveries......................................30
    Section 3.4     Failure to Obtain Specified Approvals....................31
    Section 3.5     Local Closings...........................................35

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE SELLING PARTIES.............36

    Section 4.1     Organization and Qualification of the Selling Parties
                    and the Acquired Companies...............................36
    Section 4.2     Authorization............................................37
    Section 4.3     Execution; Validity of Agreement.........................37
    Section 4.4     Consents and Approvals; No Violations....................37
    Section 4.5     Capitalization and Title to the Purchased Equity.........38
    Section 4.6     Good Title Conveyed in the Purchased Equity..............38
    Section 4.7     Subsidiaries.............................................38
    Section 4.8     Financial Statements and Indebtedness....................38
    Section 4.9     No Undisclosed Liabilities...............................39
    Section 4.10    Absence of Certain Changes...............................40
    Section 4.11    Ownership and Condition of Assets; Sufficiency of Assets
                    and Purchased Equity.....................................41
    Section 4.12    Contracts and Commitments................................43
    Section 4.13    Insurance................................................45
    Section 4.14    Litigation...............................................45
    Section 4.15    Environmental Matters....................................45
    Section 4.16    Compliance with Laws and Orders..........................47
    Section 4.17    Employee Benefit Plans...................................47

                                       i
<PAGE>

    Section 4.18    Tax Matters..............................................49
    Section 4.19    Company Intellectual Property............................50
    Section 4.20    Labour Matters...........................................52
    Section 4.21    Bank Accounts............................................53
    Section 4.22    Brokers or Finders.......................................53
    Section 4.23    Receivables and Payables.................................53
    Section 4.24    Inventory................................................53
    Section 4.25    Books and Records........................................54
    Section 4.26    Affiliates Interests.....................................54
    Section 4.27    Customers, Suppliers, Distributors Etc...................54
    Section 4.28    Products.................................................55
    Section 4.29    Powers of Attorney.......................................55
    Section 4.30    Computer Systems; Financial Reporting....................55
    Section 4.31    Permits..................................................55
    Section 4.32    Absence of Certain Business Practices....................55
    Section 4.33    Subsidies and Grants.....................................56
    Section 4.34    Limitations on Representations and Warranties;
                    Disclosure...............................................56

ARTICLE V REPRESENTATIONS AND WARRANTIES OF SILGAN...........................56

    Section 5.1     Organization.............................................56
    Section 5.2     Authorization; Validity of Agreement.....................56
    Section 5.3     Consents and Approvals; No Violations....................57
    Section 5.4     Acquisition of Purchased Equity for Investment; Ability
                    to Evaluate and Bear Risk................................57
    Section 5.5     Litigation...............................................58
    Section 5.6     Investigation by Purchaser; Selling Parties' Liability...58
    Section 5.7     Brokers or Finders.......................................59

ARTICLE VI CERTAIN COVENANTS AND AGREEMENTS..................................59

    Section 6.1     Interim Operations of the Subject Companies..............59
    Section 6.2     Access; Confidentiality..................................60
    Section 6.3     Efforts and Actions to Cause Closing to Occur............61
    Section 6.4     Publicity................................................62
    Section 6.5     Employees; Employee Benefits.............................62
    Section 6.6     Intercompany Arrangements................................63
    Section 6.7     Maintenance of Books and Records.........................63
    Section 6.8     Cooperation in Litigation................................63
    Section 6.9     Insurance................................................63
    Section 6.10    Intercompany Receivables, Payables and Indebtedness......64
    Section 6.11    Name Change..............................................64
    Section 6.12    Reorganizations..........................................65
    Section 6.13    Assignment of Contracts..................................65
    Section 6.14    [Intentionally Omitted]..................................66
    Section 6.15    Bulk Transfer Laws.......................................66
    Section 6.16    Transitional Services....................................66

                                       ii
<PAGE>

    Section 6.17    Updating Schedules.......................................66
    Section 6.18    Third-Party Indebtedness; Releases.......................67
    Section 6.19    Notice of Developments...................................67
    Section 6.20    Exclusivity..............................................68
    Section 6.21    Audited Financial Statements.............................68
    Section 6.22    Collection of Receivables................................69
    Section 6.23    Rework and Refunds.......................................70
    Section 6.24    German Lease.............................................71
    Section 6.25    Newco Italy Contribution.................................71
    Section 6.26    Philippine Share Transfer................................71
    Section 6.27    Cerebos Supply Agreement.................................71
    Section 6.28    Venezuela................................................71

ARTICLE VII CONDITIONS TO CLOSING............................................72

    Section 7.1     Conditions to Each Party's Obligation to Effect
                    the Closing..............................................72
    Section 7.2     Conditions to Obligations of Silgan to Effect
                    the Closing..............................................72
    Section 7.3     Conditions to Obligations of the Selling Parties to
                    Effect the Closing.......................................73

ARTICLE VIII TERMINATION.....................................................73

    Section 8.1     Termination..............................................73
    Section 8.2     Effect of Termination....................................74

ARTICLE IX TAX MATTERS.......................................................74

    Section 9.1     Taxes of the Acquired Companies..........................74
    Section 9.2     Contests.................................................76
    Section 9.3     Price Adjustment.........................................77
    Section 9.4     Exclusive Remedy.........................................77

ARTICLE X SURVIVAL AND REMEDIES..............................................77

    Section 10.1    Survival.................................................77
    Section 10.2    Indemnification by Selling Parties.......................77
    Section 10.3    Environmental Health and Safety Indemnity................78
    Section 10.4    [Intentionally Omitted]..................................81
    Section 10.5    Indemnification by Silgan................................81
    Section 10.6    Method of Asserting Claims...............................81
    Section 10.7    Limitations on Damages...................................82
    Section 10.8    Exclusive Remedies.......................................84
    Section 10.9    Time Limits on Claims....................................84
    Section 10.10   Tax Effect and Insurance.................................85
    Section 10.11   Knowledge of Claim.......................................85

                                      iii

<PAGE>

ARTICLE XI MISCELLANEOUS.....................................................85

    Section 11.1    Fees and Expenses........................................85
    Section 11.2    Equitable Remedies.......................................87
    Section 11.3    Further Assurances.......................................88
    Section 11.4    Amendments...............................................88
    Section 11.5    Notices..................................................88
    Section 11.6    Counterparts.............................................90
    Section 11.7    Entire Agreement; No Third Party Beneficiaries...........90
    Section 11.8    Severability.............................................90
    Section 11.9    Governing Law; Waiver of Jury Trial......................90
    Section 11.10   Extension; Waiver........................................91
    Section 11.11   Assignability............................................91
    Section 11.12   Captions.................................................92
    Section 11.13   Schedules................................................92
    Section 11.14   Amcor Australia to Act on Behalf of Selling Parties......92
    Section 11.15   Time of Essence..........................................92
    Section 11.16   Joint and Several Liability..............................92

                                       iv

<PAGE>

                               INDEX TO SCHEDULES

    Schedule Numbers                      Descriptions

          (A)           Structure Chart
         1.1(A)         Acquired Company Excluded Liabilities and Excluded
                        Contracts
         1.1(B)         Assumed Liabilities
         1.1(C)         Account Codes for Business Inventory
         1.1(D)         Account Codes for Business Payables
         1.1(E)         Account Codes for Business Receivables
         1.1(F)         Form of Non-Compete Agreement
         1.1(G)         Permitted Encumbrances
       2.2(a)(ix)       Assumed Contracts
      2.2(a)(xiv)       Other Purchased Assets
      2.2(b)(xii)       Excluded Contracts
      2.2(b)(xiv)       Other Excluded Assets
         3.2(c)         Consents Delivered at Closing
         3.2(k)         Opinions
         4.1(A)         Jurisdiction of Formation of the Selling Parties and the
                        Acquired Companies
         4.1(B)         Directors and Officers of the Acquired Companies
          4.4           Conflicts and Consents of the Selling Parties
         4.5(a)         Capitalization of each Acquired Company
          4.7           Subsidiaries
         4.8(a)         Financial Statements
         4.8(b)         Indebtedness
         4.8(c)         Accruals
         4.9(a)         Undisclosed Liabilities
         4.9(b)         Disclosure Controls and Procedures
         4.9(c)         Sarbanes-Oxley Compliance
          4.10          Changes in Conduct of Business
        4.10(2)         Spending on Capital and Capital Maintenance
        4.11(a)         Owned Real Property and Leased Property
        4.11(c)         Encumbrances on Tangible Personal Property
        4.11(d)         Condition of Certain Assets
        4.11(f)         No Manufacturing Operations
        4.12(a)         Subject Company Contracts
        4.12(b)         Defaults under Subject Company Contracts
        4.12(d)         Notice of Termination of Subject Company Contract
        4.12(e)         Return of Inventory
          4.13          Insurance
          4.14          Litigation Matters
          4.15          Environmental Matters
        4.17(a)         Employees
        4.17(b)         Seller Benefit Plans
        4.17(c)         Employee Documents Not Provided
        4.17(g)         Change of Control Payments
        4.17(h)         Retired Employee Benefits
        4.17(j)         Wind Up, Termination or Close of any Seller Benefit Plan

<PAGE>

    Schedule Numbers                      Descriptions

          4.18          Tax Return Information
        4.18(k)         Taxable Income
        4.19(a)         Registered Intellectual Property
        4.19(b)         Intellectual Property Matters
          4.20          Labour Matters
          4.21          Bank Accounts of the Subject Companies Relating to the
                        Business
          4.22          Brokers or Finders for Selling Parties
          4.24          Inventory
          4.26          Affiliate Interests
          4.27          Customers and Suppliers
          4.28          Products
          4.29          Powers of Attorney
          4.33          Subsidies and Grants
          5.2           Authorization
          5.3           Conflicts and Consents of Silgan
          6.1           Conduct of Business
          6.6           Intercompany Arrangements
          6.18          Releases
         7.1(b)         Antitrust Administrator Consents
        10.2(k)         Funding Benefits

        Annex A         Holdback Amounts and Specified Interest Target Working
                        Capital Amounts

        Annex B         Cerebos Supply Agreement

                                       vi

<PAGE>

                               PURCHASE AGREEMENT

                             I N T R O D U C T I O N
                             - - - - - - - - - - - -

     THIS  PURCHASE  AGREEMENT is made and entered into as of February 22, 2006,
by and between Amcor Limited,  a company  organized  under the laws of New South
Wales ("Amcor  Australia"),  and Silgan Holdings Inc., a company organized under
the laws of Delaware ("Silgan").  Capitalized terms not otherwise defined herein
shall have the meaning ascribed to such terms in Article I hereof.

                                R E C I T A L S:

     WHEREAS,  AMB  Packaging  Pte Ltd,  a company  organized  under the laws of
Singapore  ("Amcor  Singapore"),  Amcor  Investments  Germany  Ltd.,  a  company
organized under the laws of England and Wales ("Amcor Germany"),  Amcor Holdings
(Australia)  Pty Ltd.,  a company  organized  under the laws of New South  Wales
("Amcor  Holdings  Australia"),  Amcor  European  Consolidated  Holdings Ltd., a
company organized under the laws of Cyprus ("Amcor ECH"), Amcor Mediflex Ltd., a
company organized under the laws of England and Wales ("Amcor Mediflex"),  Amcor
PET Packaging  Iberia S.A., a company  organized under the laws of Spain ("Amcor
Spain"),  Amcor White Cap International  Inc., a company organized under the law
of Delaware ("Amcor  International"),  Amcor White Cap Nederland B.V., a company
organized under the laws of The  Netherlands  ("Amcor  Netherlands"),  Amcor PET
Packaging  Canada Inc.,  a company  organized  under the laws of Canada  ("Amcor
Canada"), Amcor PET Packaging do Brasil Ltda, a company organized under the laws
of Brazil ("Amcor PET Brazil"),  Amcor Italia s.r.l., a company  organized under
the laws of Italy  ("Amcor  Italy") and Amcor  France  SNC, a company  organized
under the laws of France ("Amcor France SNC"), are  collectively  referred to as
the "Selling Shareholders" and individually, each a "Selling Shareholder"; and

     WHEREAS Amcor Ambalaj  Sanayive  Ticaret AS, a company  organized under the
laws of Turkey ("Amcor Turkey"),  Amcor Magyarorszag  Csomagolastechnikai KFT, a
company organized under the laws of Hungary ("Amcor  Hungary"),  Amcor White Cap
Austria GmbH, a company  organized under the laws of Austria ("Amcor  Austria"),
Amcor White Cap, Inc., a company  organized  under the laws of Delaware  ("Amcor
U.S."),  Amcor Australia and Amcor  Netherlands are collectively  referred to as
the "Asset Sellers" and individually, each an "Asset Seller"; and

     WHEREAS the Selling  Shareholders  and the Asset  Sellers are  collectively
referred  to herein as the  "Selling  Parties"  and  individually  as a "Selling
Party"; and

     WHEREAS Silgan and the Selling Parties are collectively  referred to herein
as the "Parties" and individually as a "Party"; and

     WHEREAS the Selling  Parties  are direct or  indirect  Affiliates  of Amcor
Australia; and

     WHEREAS Amcor  Australia  shall cause each of the Selling Parties to sign a
counter-party  to this Agreement and shall cause each of the Selling  Parties to
perform all of its

<PAGE>

obligations  under this Agreement,  including  selling the applicable  Purchased
Assets or Purchased Equity; and

     WHEREAS Amcor  Singapore is the legal and  beneficial  owner of 99.9995% of
the issued and outstanding Capital Stock of Amcor White Cap Asia Pacific Inc., a
company  organized under the laws of the Philippines  ("Amcor Asia Pacific") and
of 99.9999% of the issued and outstanding Capital Stock of Amcor White Cap South
East Asia, Inc., a company  organized under the laws of the Philippines  ("Amcor
South East Asia"); and

     WHEREAS  Amcor  Singapore is the legal and  beneficial  owner of all of the
issued and outstanding Capital Stock of Amcor White Cap Shanghai Ltd., a company
organized under the laws of China ("Amcor Shanghai"); and

     WHEREAS Amcor Singapore is the legal and beneficial  owner of forty percent
(40%) of the issued and outstanding Capital Stock of Amcor White Cap Investments
Inc.,  a  company   organized  under  the  laws  of  the   Philippines   ("Amcor
Investments"); and

     WHEREAS  Amcor  Investments  and  Amcor  South  East Asia are the legal and
beneficial  owners of 59.9951%  and  39.9967%,  respectively,  of the issued and
outstanding  Capital  Stock of Amcor  White  Cap  Properties,  Inc.,  a  company
organized under the laws of the Philippines ("Amcor Properties"); and

     WHEREAS  Amcor  Germany  is the  legal and  beneficial  owner of all of the
issued and  outstanding  Capital  Stock of Amcor White Cap  Deutschland  GmbH, a
company organized under the laws of Germany ("Amcor Deutschland"); and

     WHEREAS Amcor ECH and Amcor Deutschland are the legal and beneficial owners
of ninety-nine  percent  (99.0%) and one percent  (1.0%),  respectively,  of the
issued and the  outstanding  Capital  Stock of Amcor  White Cap  Ukraine  LLC, a
company organized under the laws of Ukraine ("Amcor Ukraine"); and

     WHEREAS  Amcor  ECH is the  legal  and  beneficial  owner of the all of the
issued and  outstanding  Capital Stock of each of Amcor White Cap Nordiska AB, a
company organized under the laws of Sweden ("Amcor Sweden"), and Amcor White Cap
UK Ltd, a company  organized  under the laws of England and Wales  ("Amcor UK");
and

     WHEREAS Amcor  Mediflex is the legal and beneficial  owner of  ninety-eight
point seventy-two  percent (98.72%) of the issued and outstanding  Capital Stock
of Amcor  White Cap Polska Sp.  z.o.o.,  a company  organized  under the laws of
Poland ("Amcor Polska"); and

     WHEREAS Amcor Spain is the legal and beneficial owner of all the issued and
outstanding  Capital  Stock of Amcor White Cap Espana S.L., a company  organized
under the laws of Spain ("Amcor Espana"); and

     WHEREAS Amcor  Netherlands is the legal and beneficial owner of all but one
(1) share of the issued and outstanding Capital Stock of Amcor White Cap Belgium
N.V.,  a company  organized  under the laws of Belgium  ("Amcor  Belgium"),  the
remaining one (1) share being held by Amcor Holdings Australia; and

                                       2
<PAGE>

     WHEREAS  Amcor  France  SNC is the  legal and  beneficial  owner of all the
issued and outstanding Capital Stock of Amcor White Cap France S.A.S., a company
organized under the laws of France ("Amcor France S.A.S."); and

     WHEREAS  Amcor   International   is  the  legal  and  beneficial  owner  of
sixty-three  percent (63%) of the issued and outstanding  Capital Stock of Amcor
White Cap de  Venezuela  S.A., a company  organized  under the laws of Venezuela
("Amcor Venezuela"); and

     WHEREAS,  Amcor Canada is the legal and beneficial owner of all but one (1)
quota of the issued and  outstanding  Capital Stock of Amcor White Cap do Brasil
Ltda, a company organized under the laws of Brazil ("Amcor  Brazil"),  and Amcor
PET Brazil is the legal and  beneficial  owner of the remaining one (1) quota of
the issued and outstanding Capital Stock of Amcor Brazil; and

     WHEREAS the corporate structure referred to in the foregoing  paragraphs of
this Preamble is more fully described in Schedule A hereto; and

     WHEREAS,  prior  to the  Closing,  Amcor  Italy  has  determined  to form a
wholly-owned  subsidiary  under  the  laws  of  Italy  ("Newco  Italy")  and has
determined to contribute to Newco Italy at fair market value  substantially  all
of the assets and certain  liabilities  and  obligations of Amcor Italy, in each
case  relating to the  operation of the Business (as and to the same extent such
assets and liabilities  would be included in the definition of Purchased  Assets
and Assumed Liabilities, respectively, if Amcor Italy were an Asset Seller) (the
"Newco Italy Contribution"); and

     WHEREAS Amcor Asia Pacific,  Amcor South East Asia,  Amcor Shanghai,  Amcor
Investments,  Amcor Properties, Amcor Deutschland,  Amcor Ukraine, Amcor Sweden,
Amcor UK, Amcor Polska, Amcor Espana, Amcor Belgium,  Amcor France S.A.S., Amcor
Brazil,  Amcor Venezuela and Newco Italy are collectively  referred to herein as
the "Acquired Companies" and individually as an "Acquired Company"; and

     WHEREAS,  the Asset Sellers and the Acquired  Companies are herein referred
to  collectively  as the  "Subject  Companies"  and  individually  as a "Subject
Company"; and

     WHEREAS,  the Asset Sellers desire to sell,  transfer,  convey,  assign and
deliver to the respective  directly or indirectly  wholly-owned  subsidiaries of
Silgan as shall be designated by Silgan prior to the Closing (collectively,  the
"Purchasers")  substantially  all the  properties of the Asset Sellers  relating
primarily  to the  operation  of the  Business,  and  Silgan  desires  that  the
Purchasers  purchase such  properties of the Asset Sellers and to assume certain
liabilities  and  obligations of the Asset Sellers  relating to the operation of
the Business, all in accordance with the terms, conditions and agreements herein
contained; and

     WHEREAS the Selling  Shareholders  desire to sell,  transfer and deliver to
the Purchasers all of the issued and outstanding  Capital Stock owned by them in
the Acquired  Companies  (the  "Purchased  Equity") and Silgan  desires that the
Purchasers  purchase the Purchased Equity (it being understood that with respect
to the Purchased Equity of Amcor Deutschland and Amcor Sweden, only SWC Holdings
Deutschland  GmbH i.G.  shall be the Purchaser and in no way shall Silgan be (or
be  entitled  to  designate  itself as) the  Purchaser  or  obligated  to be the
Purchaser, of

                                       3
<PAGE>

Amcor  Deutschland  or  Amcor  Sweden),  the  whole  subject  to the  terms  and
conditions hereinafter set forth; and

     WHEREAS it is  intended by the Parties  that the  purchase  and sale of the
Asset Sellers' properties, the assumption of certain liabilities and obligations
of the Asset  Sellers,  and the purchase and sale of the  Purchased  Equity will
transfer the Business to Silgan and its Affiliates on a going concern basis.

     NOW,  THEREFORE,  in  consideration  of the mutual covenants and agreements
contained  herein,  and other good and valuable  consideration,  the receipt and
sufficiency of which are hereby acknowledged, the Parties agree as follows:

                                   ARTICLE I
                         DEFINITIONS AND INTERPRETATION

Section 1.1   Definitions.
              -----------

For all purposes of this Agreement,  except as otherwise  expressly  provided or
unless the context clearly requires otherwise:

     "Acquired Company" and "Acquired Companies" are defined in the Recitals.

     "Acquired   Company  Excluded   Liabilities"   means  all  liabilities  and
obligations  of the Acquired  Companies of any kind,  whether  known or unknown,
asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated
or unliquidated,  and whether due or to become due, including any liabilities or
obligations  for any  non-compliance  with  applicable Laws prior to the Closing
Date (it being  understood that  responsibility  for liabilities and obligations
for non-compliance with Environmental Laws is addressed  exclusively in Sections
10.2(f) and 10.3), and excluding only the following:

     (i) The liabilities and obligations of the Acquired  Companies  included in
the Closing Working Capital;

     (ii) The  liabilities  and  obligations of Amcor  Shanghai,  Amcor Ukraine,
Amcor  Polska,  Amcor  Venezuela,  Amcor South East Asia and Amcor Asia  Pacific
included in the Closing Indebtedness;

     (iii) Subject and without prejudice to the Selling Parties' indemnification
obligations under Sections 10.2 and 10.3 of this Agreement,  the liabilities and
obligations of the Acquired  Companies under the Real Property Leases (including
the  liabilities  and obligations of the lessee under the New German Lease (when
executed) to restore the leased  property upon the termination of the New German
Lease),  the Personal  Property Leases,  the Licenses and the Contracts to which
any Acquired Company is a party and which relate to the Business,  but excluding
those set forth on Schedule 1.1(A)  notwithstanding that there may be a deferred
income  item  on the  books  of the  Subject  Companies  with  respect  to  such
Contracts;

                                       4
<PAGE>

     (iv) The liabilities and obligations of the Acquired Companies for benefits
in respect of the  Employees  and Retired  Employees of the Acquired  Companies,
including under Seller Benefit Plans of the Acquired Companies;

     (v) The liabilities and obligations of the Acquired  Companies as set forth
on, and only to the extent set forth on,  Schedule  1.1(B),  consistent with the
classifications  set forth on the Business'  chart of account codes set forth on
Schedule  1.1(B) (it being  understood  that the  amounts  set forth on Schedule
1.1(B) also include liabilities and obligations of the Asset Sellers referred to
in Section 2.3(a)(v)); and

     (vi) The liabilities and  obligations of the Acquired  Companies  otherwise
expressly  assumed  by the  Acquired  Companies  pursuant  to the  terms of this
Agreement.

     "Affiliate"  of any  Person  means a Person  that  directly  or  indirectly
through  one or more  intermediaries  controls,  is  controlled  by, or is under
common control with, the first Person. For purposes of this definition, the term
"control",  "controlled  by" or "under  common  control  with"  means the power,
direct or  indirect,  to direct or cause the  direction  of the  management  and
policies of a Person,  whether through the ownership of voting Capital Stock, by
Contract, as trustee or executor, or otherwise.

     "Agreement" or "this  Agreement"  means this Purchase  Agreement,  together
with the Schedules and Annexes hereto.

     "Amcor Financial Procedures and Controls" means the accounting policies and
practices  used by the  Subject  Companies  during the fiscal year ended 30 June
2005 consistently applied.

     "Ancillary  Agreements"  means the  Non-Compete  Agreement,  the Transition
Services Agreement,  the Specified Interest Management  Agreements (if any), the
Local  Agreements,  the Bills of Sale, the  Assumption  Agreements and any other
Contract  executed in connection  with this Agreement and all other  agreements,
bills  of  sale,   instruments   of  conveyance,   assignment  and   assumption,
certificates  and other such  documents  reasonably  required  to  complete,  in
accordance with the terms and conditions of this Agreement,  the sale,  transfer
and delivery to the Purchasers of the Purchased Equity and the Purchased Assets.

     "Antitrust  Administrator"  means any Governmental Entity administering any
Antitrust Laws.

     "Antitrust Laws" means the antitrust and competition laws of any country or
of the European Union.

     "Arbitrator" is defined in Section 11.1(ii).

     "ARD"  means  the  enactment  of the  Acquired  Rights  Directive  and  any
subsequent  amendments or  replacements  in the  jurisdiction  of the applicable
Asset Seller in Europe.

     "Asset Sellers" is defined in the Introduction.

                                       5
<PAGE>

     "Asset Sellers Pre-Closing Products" is defined in Section 6.23.

     "Assumed Contracts" is defined in Section 2.2(a)(ix).

     "Assumed Liabilities" is defined in Section 2.3(a).

     "Assumption Agreements" is defined in Section 3.3(e).

     "Audited Financial Statements" is defined in Section 6.21.

     "Benefit  Plan"  means  each  employee   benefit,   incentive-compensation,
deferred-compensation,   jubilee  benefits,  early  retirement,  profit-sharing,
stock-option,     stock-appreciation-right,     stock-bonus,     stock-purchase,
employee-stock-ownership,   savings,  severance,   change-in-control,   pension,
health,  medical,  welfare,  life  insurance,  fringe  benefit plan,  program or
arrangement  maintained or contributed to by any Subject  Company or any Selling
Shareholder  with  respect  to any  Acquired  Company  for  the  benefit  of the
Employees and/or Retired Employees.

     "Bills of Sale" is defined in Section 3.2(j).

     "Book Cash  Balances"  means the book cash  balances  held by any  Acquired
Company including,  for greater certainty,  petty cash, cash on deposit and cash
equivalents  (including,  marketable  bills of exchange)  and the like,  and the
petty cash of the Asset Sellers at the facilities included in the Real Property.

     "Brazil  Litigation"  means that certain legal  proceeding  bearing  docket
number  671/00  in the  4th  Civil  Court  of Sao  Bernardo,  Brazil,  involving
Remaprint  Embalagens Ltda.,  Amcor Brazil and Mr. Alfredo Luiz Kugelmas (as the
trustee in charge of Remaprint  Embalagens Ltda. bankrupt estate),  that certain
legal proceeding  bearing docket number 115156/01 in the 12th Civil Court of Sao
Paulo, State of Sao Paulo,  involving  Remaprint  Embalagens Ltda., Amcor Brazil
and Mr.  Dieter Rapp Junior and any other legal or equitable  proceeding  before
any other  Governmental  Entity  relating  thereto or  arising  out of the facts
underlying such proceedings,  including any labor or employment related legal or
equitable  proceedings  involving  current  or  former  employees  of  Remaprint
Embalagens Ltda.

     "Business" means the developing,  manufacturing,  marketing,  distributing,
selling and  servicing of metal,  plastic and  composite  vacuum and  non-vacuum
closures for jars and containers and related capping  equipment for the food and
beverage industries from plants and/or sales offices in Germany,  Italy, Poland,
Turkey, the Philippines,  China, Brazil, Austria,  Belgium, France, Hungary, the
Netherlands,  Spain, Sweden, Ukraine, the United Kingdom and Venezuela under the
"White Cap" brand and the  licensing of others to do the same in Israel,  Japan,
South Africa, India, Korea, Australia, the United States and New Zealand, all as
conducted by the Subject Companies. For greater certainty, the Business does not
include the closure  operations  of the Selling  Parties or their  Affiliates in
Australia and New Zealand,  any  shareholdings  of the Selling  Parties or their
Affiliates  in the joint  venture in North  America  with  Bericap  Inc.  or the
polyethylene  terephthalate  (PET) operations of Sellers or their Affiliates for
closures  sold to  customers  of  carbonated  soft drink and  non-hot-filled  or
aseptic water (CSDW) for  carbonated  soft drink and  non-hot-filled  or aseptic
water products in Latin America and other locations.

                                       6
<PAGE>

     "Business  Day" means a day (other than  Saturday or Sunday) on which banks
are generally open for ordinary business in New York, New York, U.S.A.

     "Business    Inventory"   means   net   inventory   consistent   with   the
classifications set forth in the chart of account codes in Schedule 1.1(C).

     "Business  Payables" means net payables consistent with the classifications
set forth in the chart of account codes in Schedule 1.1(D).

     "Business   Receivables"   means  net   receivables   consistent  with  the
classifications set forth in the chart of account codes in Schedule 1.1(E).

     "Cap Amount" is defined in Section 10.7.

     "Capital Stock" means, as applicable,  shares of capital stock, partnership
interests,  membership interests, equity interests,  quotas, ownership interests
or any similar term under applicable Law.

     "Cerebos" is defined in the definition of Specified Approvals.

     "Cerebos Agreement" is defined in the definition of Specified Approvals.

     "Claim Notice" is defined in Section 10.6(b).

     "Closing" is defined in Section 3.1.

     "Closing Date" is defined in Section 3.1.

     "Closing Date Book Cash Balances" is defined in Section 2.4(c).

     "Closing  Date  Interest  Rate" means the  interest  rate  appearing on the
Reuters Screen LIBOR Page as the London  Interbank  Offer Rate for one (1) month
funding in Euros at  approximately  11:00  a.m.  (London,  England  time) on the
Closing Date plus 1.0%.

     "Closing Estimated Purchase Price" is defined in Section 2.4(f).

     "Closing Indebtedness" is defined in Section 2.4(b).

     "Closing Statement" is defined in Section 2.5(a).

     "Closing Time" is defined in Section 3.1.

     "Closing  Working  Capital"  means the  Working  Capital as of the close of
business,  local time for the Subject Companies, on the day immediately prior to
the Closing Date.

     "Company  Intellectual  Property" means the Intellectual  Property owned or
used by the Subject Companies,  including the Licenses,  and, in the case of the
Asset  Sellers,  that is used in the  Business,  including web sites and content
that relate solely to the Business,  except that

                                       7
<PAGE>

Company  Intellectual  Property  shall  exclude the name  "Amcor" and all domain
names and web sites that contain the name "Amcor."

     "Computer Assets" is defined in Section 4.30.

     "Consent" means any approval, consent,  permission,  ratification,  waiver,
license or other authorization.

     "Contest" is defined in Section 9.2.

     "Contract"  means  any  contract,  agreement,  license  or  pending  bid or
proposal (which bid or proposal if accepted would result in a binding contract),
whether written or oral.

     "Covered Request" is defined in Section 6.7.

     "CPA Firm" is defined in Section 2.5(d).

     "Current German Lease" is defined in Section 7.2(d).

     "Damaged  Party"  means  any  Person  claiming  indemnification  under  any
provision of Article X.

     "Data Room" means the electronic  data room  established by Amcor Australia
for the  purposes  of the  Transactions  containing  documents  relating  to the
Business and the Acquired Companies and made available to Silgan.

     "Data  Room  Disk"  means the  CD-ROM  containing  the  documentation  made
available to Silgan in the Data Room.

     "Deductible Amount" is defined in Section 10.7.

     "Deeds" is defined in Section 3.2(e).

     "De Minimis Amount" is defined in Section 10.7.

     "Designees" is defined in Section 6.22.

     "Employees"  means all employees and workers (as such would be deemed to be
employees if employed in North  America)  (excluding  Retired  Employees) in the
employ of or working  for the  Subject  Companies  and, in the case of the Asset
Sellers, relating to the Business.

     "Encumbrance"  means  (i) any  mortgage,  hypothec,  charge,  lien,  claim,
pledge,  security  interest of any kind or other  encumbrance,  (ii) any option,
right of first refusal or right of pre-emption,  (iii) a contractual restriction
on the use,  voting,  transfer,  receipt  of  income  or  exercise  of any other
attribute  of  ownership  and (iv) with  respect  to any real  property  (or any
leasehold estate in real property), any lease (including any sublease),  license
or other  agreement  respecting  use  and/or  occupancy,  easement,  restrictive
covenant, condition, limitation, right-of-way, exception or other encumbrance or
burden  (including  encroachments  and other  matters of

                                       8
<PAGE>

survey) on or affecting such real property or title thereto (or, as the case may
be, the leasehold estate therein).

     "Environment"  means all, or any part, of the air (including the air within
buildings and natural or man-made  structures above or below ground),  water and
land.

     "Environmental  Claims"  means  any  and  all  directives,  administrative,
regulatory or judicial actions, suits, demands,  demand letters,  claims, liens,
notices of non-compliance or violation, investigations by a Governmental Entity,
proceedings,  consent  orders or consent  agreements  relating in any way to any
Environmental Law, Hazardous Substance or any Environmental  Permit,  including,
(a) any and all claims by Governmental Entities for enforcement,  investigation,
cleanup, removal, response, corrective,  remedial, monitoring, or other actions,
damages,  fines or penalties  pursuant to any applicable  Environmental Law, and
(b) any and all claims by any one or more Persons seeking damages, contribution,
indemnification,   cost  recovery,  compensation,  injunctive  or  other  relief
resulting  from a Release or  threatened  Release  of  Hazardous  Substances  or
arising from  alleged  injury or threat of injury to health,  safety,  property,
natural resources or the environment.

     "Environmental Condition" means any and all conditions and circumstances of
any property,  including any Leased Real Property or Owned Real Property, or any
other  property  formerly  owned,  operated or leased by the Subject  Companies,
relating to or arising or resulting from a failure to comply with any applicable
Environmental  Law or  Environmental  Permit  or from a  Release  or  threatened
Release of Hazardous Substances into the Environment.

     "Environmental  Law" means any Law now or previously in effect  regulating,
relating  to, or imposing  liability  or  standards  of conduct  concerning  any
Hazardous Substance,  drinking water,  groundwater,  wetlands,  landfills,  open
dumps, above ground storage tanks, underground storage tanks, solid waste, waste
water,  storm water  run-off,  waste  emissions,  wells,  air  emissions,  water
discharges, noise emissions, or otherwise relating to pollution or protection of
the outdoor or indoor environment or health or safety.

     "Environmental  Permit"  means any permit,  license,  approval,  consent or
other authorization by a Governmental Entity pursuant to any Environmental Law.

     "Estimated Purchase Price" is defined in Section 2.4(f).

     "Exchange Act" means the U.S. Securities Exchange Act of 1934, as amended.

     "Exchange  Rate" means the spot rate of exchange in the  relevant  currency
against  Euros as reported on Reuters Page EURX= on the previous  trading day as
the closing (Sydney time) mid price for dealings in the relevant currency.

     "Excluded Assets" is defined in Section 2.2(b).

     "Excluded  Employees" means (i) employees,  former employees or workers (as
such would be deemed to be employees if employed in North  America) of a Subject
Company who were  employed at a particular  location of such Subject  Company in
its manufacturing operations where all manufacturing operations at such location
have been discontinued and (ii) employees,

                                       9
<PAGE>

former employees or workers (as such would be deemed to be employees if employed
in North America) of the Subject Companies who are engaged in any business other
than  the  Business.  Notwithstanding  the  foregoing,  (A) an  employee  who by
definition  is both an Excluded  Employee  and an  Employee at Closing  shall be
deemed to be an Employee  and (B) an employee who by  definition  is an Excluded
Employee  but  subsequently  becomes an  employee  of a Subject  Company for the
Business and then becomes a Retired  Employee  after last being an Employee of a
Subject Company for the Business shall be deemed a Retired Employee.

     "Excluded Liabilities" is defined in Section 2.3(b).

     "Final Purchase Price" is defined in Section 2.5(f).

     "Financial  Statements"  means (i) the  consolidated  balance  sheet of the
Subject  Companies  as at June 30, 2005,  (ii) the  consolidated  statements  of
profit and loss of the Subject Companies for the twelve-month  period ended June
30, 2005, (iii) the consolidated statement of cash flow of the Subject Companies
for the  twelve-month  period ended June 30, 2005,  all of which,  excluding the
statements for Amcor Venezuela and Amcor Brazil,  were included in consolidation
schedules  and were  previously  audited in accordance  with auditing  standards
generally  accepted  in the  United  States  of  America  as part  of the  Amcor
Australia  audit  process,  and  based  on the  materiality  threshold  of Amcor
Australia  and were prepared to enable Amcor  Australia to prepare  consolidated
financial  statements  and not to report on the Subject  Companies as a separate
entity,  and (iv) the consolidated  balance sheet of the Subject Companies as at
December 31, 2005,  (v) the  consolidated  statements  of profit and loss of the
Subject Companies for the six-month period ended December 31, 2005, and (vi) the
consolidated  statement of cash flow of the Subject  Companies for the six-month
period ended December 31, 2005, all of which constitute management accounts that
have not been  audited,  all of the  foregoing  in (i) through  (vi) having been
prepared  in  accordance  with  IFRS  and the  Amcor  Financial  Procedures  and
Controls,  and (vii) the  statutory  financial  statements of any of the Subject
Companies  that have been filed for any  period  ending on or after July 1, 2004
through  December 31, 2005,  all of which have been prepared in accordance  with
the applicable  local  generally  accepted  accounting  principles  consistently
applied and Amcor's financial controls, (the "Individual Statements"), copies of
all of which are set forth in Schedule 4.8; provided,  however,  that as regards
the  Asset  Sellers,  the  Financial  Statements  include  only  such  financial
information  as is applicable  to the Business and not to any other  business or
activities carried on by any such Asset Seller, and that for the purposes of the
definition of Financial  Statements,  "Subject Companies" does not include Amcor
Australia.

     "Governmental  Entity" means the United  States,  the European  Union,  any
foreign, national,  supranational,  federal, state, provincial, local, municipal
or other  government  or political  subdivision  thereof,  or any  regulatory or
administrative  agency,  authority  or  instrumentality  of such  government  or
political  subdivision,   or  any  court,  agency  or  tribunal,   including  an
arbitration.

     "Governmental   Permits"   means  any  licenses,   certificates,   permits,
franchises,  authorizations,  consents,  qualifications  and  approvals,  or any
waiver of the foregoing,  issued or granted by any Governmental  Entity required
by Law for the operation of the Business.

                                       10
<PAGE>

     "Governmental Sign-Off" is defined in Section 10.3(e)(iii).

     "Hazardous Substance" means any element, compound,  chemical,  contaminant,
pollutant,  material, waste or other substance or constituent that is defined or
regulated as such in, or for purposes of any  Environmental  Law,  determined or
identified as hazardous,  toxic,  biohazardous or dangerous under any applicable
Environmental  Law, or the release of which is prohibited or regulated under any
applicable  Environmental  Law,  including,  any asbestos,  any  petroleum,  oil
(including crude oil or any fraction thereof),  any radioactive  substance,  any
polychlorinated  biphenyls,  any toxin, chemical,  infectious and medical waste,
microbial matter, and any other substance that gives rise to liability under any
Environmental Law.

     "Holdback  Amount"  means  in  respect  of each of  Amcor  Shanghai,  Amcor
Investments,  Amcor Asia Pacific, Amcor South East Asia, Amcor Properties, Amcor
Venezuela  and Amcor  Brazil,  the amount of the  Purchase  Price  specified  in
respect of such  Subject  Company  as set forth on Annex A (it being  understood
that a single  Holdback  Amount  shall  apply to Amcor  Investments,  Amcor Asia
Pacific, Amcor South East Asia and Amcor Properties, collectively).

     "IFRS" means International Financial Reporting Standards.

     "Indebtedness"  means,  with  respect  to  any  Person  at  any  date,  all
liabilities  of  such  Person  for  interest-bearing   debt,  including  accrued
interest.  Notwithstanding the foregoing, (i) for all purposes hereof the amount
of US  $1,379,933  trading  balance owing by Amcor  Shanghai to Amcor  Australia
shall be included as  Indebtedness  and (ii) for  purposes  of  determining  the
Purchase Price,  Indebtedness shall not include any amounts that are included in
calculating the Closing Working Capital.

     "Individual  Statements"  is defined  within the  definition  of  Financial
Statements.

     "Intellectual  Property"  means (a) all United  States,  international  and
foreign  patents  and  applications   therefor;   (b)  all  inventions  (whether
patentable or not), ideas,  processes,  improvements,  trade secrets,  know how,
technology,  technical data,  proprietary processes and formulae, all source and
object code, architectures,  structures,  display screens, layouts,  development
tools  and all  documentation  and media  constituting,  describing  the  above,
including,  manuals,  documentation,  memoranda and records; (c) all copyrights,
copyright registrations and applications therefor,  including derivative and all
other rights  corresponding  thereto  throughout the world; (d) all trade names,
trade dress,  logos,  common law  trademarks  and service  marks,  trademark and
service mark registrations and applications  therefor  throughout the world; (e)
all proprietary databases and data collections and all rights therein throughout
the world;  (f) domain names,  web sites and related  content;  (g) intellectual
property rights acquired by license or agreement;  and (h) any equivalent rights
to any of the foregoing anywhere in the world.

     "Inventory" means raw materials,  work-in-progress,  finished goods,  spare
parts,  capping  equipment and related spare parts (to the extent  classified as
inventory by the Business),  accessories and equipment (to the extent classified
as inventory by the Business), packaging materials and other accessories and all
supplies held for use in the Business  wherever located,

                                       11
<PAGE>

including consignment inventory (where the Subject Company is the consignor) and
inventory on order for or in transit to or from the Subject Companies.

     "June 30, 2005 Financial Statements" is defined in Section 6.21.

     "Law"  means  any  applicable  European  Union,  United  States,   foreign,
national, supranational, federal, provincial, state, municipal or local statute,
common law,  rule,  regulation,  ordinance,  permit,  order,  writ,  injunction,
directive,  judgment,  decree or any  other  pronouncement  of any  Governmental
Entity having the effect of law.

     "Leased Real Property" means,  collectively,  the real property  (including
all improvements thereon) that is leased, subleased, licensed for occupation, or
otherwise  demised,  to a Subject Company (and in the case of the Asset Sellers,
used,  operated or maintained in connection  with, or otherwise  related to, the
Business), all as more particularly set forth on Schedule 4.11(a).

     "Licenses" means all Contracts  pursuant to which a Subject Company has any
rights in or to any  Company  Intellectual  Property  from any  Person,  and all
Contracts  pursuant to which a Subject  Company has licensed or transferred  any
rights in or to any Company Intellectual Property to any Person.

     "Local Agreements" is defined in Section 3.5.

     "Local Closing" is defined in Section 3.5.

     "Losses"  means any and all demands,  claims,  actions or causes of action,
assessments,   losses,  damages,  liabilities,  costs  and  expenses,  including
interest, penalties, and reasonable attorneys' fees and disbursements, excluding
any  punitive,  consequential  or  indirect  damages  (except as such  punitive,
consequential or indirect damages are paid to third parties).

     "Major Customer" is defined in Section 4.27.

     "Major Supplier" is defined in Section 4.27.

     "Management Fee" is defined in Section 3.4(a).

     "Material  Adverse  Effect" means any effect,  event or occurrence  that is
materially adverse to the assets, liabilities (contingent or otherwise), results
of operations  (both  historical  and in the future  (including  cost  reduction
initiatives)) or financial  condition (both historical and in the future) of the
Business, the Purchased Assets and the Acquired Companies,  taken as a whole, or
that has a material  adverse  effect on the  ability of the  Selling  Parties to
consummate the  transactions  contemplated  by, and discharge their  obligations
under, this Agreement and the Ancillary Agreements; provided, however, that none
of the following shall be deemed, either alone or in combination, to constitute,
and none of the  following  shall be taken into account in  determining  whether
there  has been or will be, a  Material  Adverse  Effect:  (i) the fact that any
Subject Company fails to meet any internal or published projections,  forecasts,
or revenue or earnings predictions for any period; it being understood, however,
that the  underlying  reason or cause for such  failure may still  constitute  a
Material Adverse Effect; (ii) any adverse change,

                                       12
<PAGE>

effect,  event,  occurrence,  state  of  facts  or  development  to  the  extent
attributable to the announcement or pendency of the Transactions  (including any
cancellations  of or delays in customer  orders,  any  reduction  in sales,  any
disruption in supplier,  distributor,  partner or similar  relationships  or any
loss of employees);  (iii) any adverse change, effect, event, occurrence,  state
of facts or development  attributable to conditions affecting (a) the industries
in which the Business  operates  (which adverse changes or effects do not affect
the Business,  the Purchased  Assets and the Acquired  Companies in a materially
disproportionate manner) or (b) general economic conditions not uniquely related
to the Business;  (iv) terrorist  activities;  (v) any adverse  change,  effect,
event, occurrence, state of facts or development arising from or relating to any
change in accounting  requirements or principles or the  interpretation  thereof
(which  adverse  changes,  effects,  events,  occurrences,  state  of  facts  or
developments do not affect the Business,  the Purchased  Assets and the Acquired
Companies in a materially  disproportionate  manner)  other than any such change
implemented  by the Selling  Parties and not required  under IFRS or  applicable
local  generally  accepted  accounting  principles  or (vi) any adverse  change,
effect,  event,  occurrence,  state  of  facts or  development  arising  from or
relating to any change in applicable Laws or the  interpretation  or enforcement
thereof (which adverse changes, effects, events, occurrences,  state of facts or
developments  do not affect the  Selling  Parties'  ability  to  consummate  the
Transactions). References in this Agreement to thresholds shall not be deemed to
be evidence of a Material Adverse Effect or materiality.

     "Newco Italy" is defined in the Recitals.

     "Newco Italy Contribution" is defined in the Recitals.

     "New German Lease" is defined in Section 7.2(d).

     "Non-Compete  Agreement" means the non-compete agreement to be entered into
between, Silgan and Amcor Australia at Closing, in the form attached as Schedule
1.1(F).

     "Offeree Notice" is defined in Section 3.4(c).

     "Operating  Document"  means,  with  respect  to any  entity,  the  bylaws,
operating  agreement,  partnership  agreement,  or  other  applicable  documents
relating to the operation, governance or management of such entity.

     "Organizational  Document" means, with respect to any entity,  the articles
of  incorporation,  certificate  of  incorporation,  articles  of  organization,
articles of association,  certificate of limited partnership or other applicable
organizational or charter documents  relating to the creation or organization of
such entity.

     "Owned Real Property" means, collectively, all the real property (including
all improvements thereon) that is owned by a Subject Company (and in the case of
the Asset Sellers, used, operated or maintained in connection with, or otherwise
related  to,  the  Business),  all as more  particularly  set forth on  Schedule
4.11(a).

     "Party" and "Parties" are defined in the Introduction.

     "Payment Notice" is defined in Section 6.23.

                                       13
<PAGE>

     "Permitted Encumbrances" means (i) liens for water, sewer and other utility
charges  not  yet  due  and  payable;  (ii)  mechanics',   carriers',  workers',
repairers', materialmens',  warehousemens' and similar liens arising or incurred
in the ordinary course of business and not related to delinquent amounts;  (iii)
imperfections of title, easements,  rights-of-ways,  covenants and encumbrances,
if any, which do not materially and adversely affect the  marketability or title
to such real  property or  materially  detract  from the value of or  materially
interfere with the present use of such real property subject thereto or affected
thereby  and not  related  to  delinquent  amounts;  (iv) liens in favour of any
lessor or licensor for rent or royalties to become due or for other  obligations
or acts,  the  performance  of which is  required  under  leases,  subleases  or
licenses,  so long as the payment of such rent,  royalties or the performance of
such other obligation or act is not delinquent beyond any cure period; (v) liens
of employees  for  salaries or wages  earned but not yet payable;  (vi) liens of
unpaid  vendors of  personal  property,  or other  similar  liens,  in each case
arising in the ordinary  course of business for charges that are not  delinquent
beyond any cure  period;  (vii) any lease of Tangible  Personal  Property in the
ordinary  course whereby a Subject Company is the lessor;  (viii)  permitted use
provisions  in the  Real  Property  Leases  listed  in  Schedule  4.11(a);  (ix)
Encumbrances  for local property Taxes and  assessments  arising in the ordinary
course  of  business  and  not  delinquent  beyond  any  cure  period;  and  (x)
Encumbrances set forth on Schedule 1.1(G).

     "Person"  means  a  natural  person,   partnership,   limited  partnership,
corporation,  limited liability  company,  business trust,  joint stock company,
trust, unincorporated association,  joint venture,  Governmental Entity or other
entity or organization.

     "Personal  Property  Lease"  means each lease  pursuant  to which  Tangible
Personal Property is leased to a Subject Company.

     "Pre-Closing Products" is defined in Section 6.23.

     "Purchase Price" is defined in Section 2.4.

     "Purchase Price Allocation" is defined in Section 2.6.

     "Purchased Assets" is defined in Section 2.2(a).

     "Purchased Equity" is defined in the Recitals.

     "Purchasers" is defined in the Recitals.

     "Real Property" means the Leased Real Property and the Owned Real Property.
The term  "real  property"  when  used  herein  and not  capitalized,  means the
applicable parcel of land such term describes,  together with all the buildings,
structures and improvements located thereon, any and all privileges,  easements,
rights of way, appurtenances, and rights belonging to and enuring to the benefit
thereof,  and any and all fixtures  and systems now upon or hereafter  placed on
said parcel and used in connection  with the use or operation of such buildings,
structures or improvements.

     "Real Property Leases" means, collectively,  the leases, subleases or other
agreements pursuant to which the Subject Companies are the lessees of the Leased
Real Property.

                                       14
<PAGE>

     "Receivables"  means all outstanding  notes,  book debts and trade accounts
receivable,  including  trade accounts  receivable  from the Selling Parties and
Affiliates  of the Selling  Parties  and  balances  due from  current and former
employees of the Subject Companies.

     "Refunds"  means  payments to customers  of the  Acquired  Companies or the
Purchasers for or in respect of or in connection with Pre-Closing  Products that
do not meet applicable  warranties,  which payments shall include, to the extent
paid to the customer,  (i) the sales price  (including  freight)  charged to the
customer  and (ii) all costs  incurred by the customer in  connection  therewith
(such as product recall costs, loss of product costs, etc.).

     "Refusal Period" is defined in Section 3.4(c).

     "Refusal Transfer Period" is defined in Section 3.4(c).

     "Registered Intellectual Property" is defined in Section 4.19(a).

     "Release"  means  any  spilling,   leaking,  pumping,  pouring,   emitting,
emptying, injecting, depositing,  disposing,  discharging,  dispersal, escaping,
dumping,  or leaching into the indoor or outdoor  environment,  including  land,
air, surface water, soil or groundwater (including the abandonment or discarding
of barrels,  containers,  and other receptacles containing Hazardous Substances)
or as otherwise defined under Environmental Laws.

     "Repurchase Date" is defined in Section 6.22.

     "Responsible Party" means any Person against whom a claim is being asserted
under any provision of Article X.

     "Retained Receivables" is defined in Section 6.22.

     "Retired Employees" means former employees of the Subject Companies for the
Business (other than Excluded Employees) who have either retired, been laid-off,
have deceased,  have commenced  employment  elsewhere or are unemployed and that
have a  contingent  or  vested  benefit  for  which the  Subject  Companies  are
responsible.

     "Rework" means Pre-Closing  Products identified by customers of the Subject
Companies of the Business as not meeting applicable  warranties and that require
replacement. Rework shall be valued at the cost to the Acquired Companies or the
Purchasers of direct  materials,  labor,  allocated  manufacturing  overhead and
freight;  provided  that for any  six-month  period  all Rework in excess of the
average  historical  level for six  months  (excluding  unusual  items)  for the
applicable  Acquired Company or Asset Seller shall be valued at a mark-up of 25%
over the cost to the Acquired  Companies or the Purchasers of direct  materials,
labor, allocated manufacturing overhead and freight.

     "Seller Benefit Plans" is defined in Section 4.17(b).

     "Selling Parties' Knowledge" means the knowledge of Peter Konieczny,  Frank
Sollmann, Volker Spiesmacher,  Jochen Hundt, Ian Wilson, Klass Uphoff (as to all
human  resources,  employee  benefits,  labor and other related  matters  only),
Heather Campbell (as to all

                                       15
<PAGE>

environmental and other related matters only), Julie MacPherson,  Edwin Sena (as
to all matters  relating  to Amcor Asia  Pacific,  Amcor South East Asia,  Amcor
Investments  and  Amcor  Properties,  collectively,  and  the  business  of such
Acquired  Companies  only),  Alan  Wang  (as to all  matters  relating  to Amcor
Shanghai and the business of Amcor Shanghai only),  Donato  Hyppolito (as to all
matters  relating  to Amcor  Brazil  and the  business  of Amcor  Brazil  only),
Francisco  Buchart  (as to all  matters  relating  to  Amcor  Venezuela  and the
business  of  Amcor  Venezuela  only),  Francisco  Zitarosa  (as to all  matters
relating to Amcor Italy (and Newco Italy upon the  occurrence of the Newco Italy
Contribution) and the business of Amcor Italy and Newco Italy only), Marek Rajca
(as to all matters  relating to Amcor  Polska and the  business of Amcor  Polska
only) and Abubekir  Yueksel (as to all matters  relating to Amcor Turkey and the
business of Amcor Turkey),  without independent  investigation.  For purposes of
Section 4.27 hereof, Selling Parties' Knowledge shall only include the knowledge
of Peter Konieczny, Frank Sollmann, Volker Spiesmacher and Jochen Hundt.

     "Selling Party" and "Selling Parties" are defined in the Introduction.

     "Selling  Shareholder"  and  "Selling  Shareholders"  are  defined  in  the
Introduction.

     "Silgan" is defined in the Introduction.

     "Silgan  Indemnitee"  means Silgan and the Purchasers and their  respective
directors, officers, employees, Affiliates, agents and representatives and their
respective successors and assigns.

     "Silgan's Objection" is defined in Section 2.5(c).

     "Specified Approvals" means (i) in respect of Amcor Shanghai,  all Consents
of Governmental  Entities required for the sale of the Purchased Equity of Amcor
Shanghai  to the  applicable  Purchaser;  (ii) in respect of Amcor  Brazil,  the
final,  non-appealable judgment of the Brazilian Courts in favor of Amcor Brazil
in respect of that certain legal proceeding  bearing docket number 671/00 in the
4th Civil Court of Sao Bernardo,  Brazil,  involving Remaprint  Embalagens Ltda,
Amcor  Brazil  and Mr.  Alfredo  Luiz  Kugelmas  (as the  trustee  in  charge of
Remaprint Embalagens Ltda. bankrupt estate) and any other bankruptcy  proceeding
involving  directly or indirectly  Amcor Brazil as a debtor,  as confirmed by an
opinion  of Amcor  Brazil's  legal  counsel  in  Brazil  in form  and  substance
reasonably  satisfactory  to Silgan;  (iii) in respect of Amcor  Venezuela,  (a)
written  waivers or the  non-exercise  within the applicable  time period of any
rights of first refusal of  shareholders or other holders of any equity interest
(other  than  Amcor  Australia  or any of its  Affiliates)  in Amcor  Venezuela,
confirmed by a certificate of an officer of Amcor  Australia that the applicable
waivers were received or the applicable time periods have expired, together with
the originals of such waivers, all in form and substance reasonably satisfactory
to Silgan and (b) all Book Cash  Balances of Amcor  Venezuela as of the close of
business,  local time for Amcor Venezuela,  on the day immediately  prior to the
Closing Date shall have been  distributed  out of such  company;  provided  such
distributions  or payments are net of any Taxes payable by Amcor  Venezuela with
respect  thereto,  it being  understood  that  the  applicable  Purchaser  shall
cooperate in  effecting  such  distributions;  and (iv) in respect of Amcor Asia
Pacific,  Amcor  South  East  Asia,  Amcor  Investments  and  Amcor  Properties,
collectively,  an amendment to the Supply Agreement,  dated April 6, 2001, among
Cerebos

                                       16
<PAGE>

Pacific  Limited  ("Cerebos"),  Amcor  Deutschland and Amcor South East Asia, as
amended (the "Cerebos Agreement"), containing the terms and conditions set forth
on Annex B.  Solely for  purposes  of  determining  whether  the  closing of the
purchase and sale of a Specified  Interest  must occur under this  Agreement and
not for the  purposes  of  determining  any  damages  to which  any Party may be
entitled  pursuant  hereto,  if Amcor Australia  disputes any  determination  by
Silgan as to  whether a  Specified  Approval  shall have been  obtained  and the
matter is  adjudicated  in accordance  with Section 11.9 hereof,  the issue upon
adjudication  for such purposes shall be whether such Specified  Approval was in
fact obtained and not whether  Silgan acted  reasonably in  determining  whether
such Specified Approval was obtained.

     "Specified Interest" is defined in Section 3.4(a).

     "Specified Interest Adjustment Amount" is defined in Section 2.5(h).

     "Specified Interest Management Agreements" is defined in Section 3.4(d).

     "Specified Interest Target Working Capital Amount" means in respect of each
of Amcor Shanghai, Amcor Investments, Amcor Asia Pacific, Amcor South East Asia,
Amcor  Properties,  Amcor  Venezuela and Amcor Brazil,  the amount of the Target
Working Capital Amount specified in respect of such Subject Company as set forth
on Annex A (it being understood that a single Specified  Interest Target Working
Capital Amount shall apply to Amcor Investments, Amcor Asia Pacific, Amcor South
East Asia and Amcor Properties, collectively).

     "Specified  Time  Period"  means with respect to Amcor Brazil two (2) years
after  the  Closing  Date,  and  with  respect  to each of the  other  Specified
Interests six (6) months after the Closing Date.

     "Subject Company" and "Subject Companies" are defined in the Recitals.

     "Subject Company Contract" is defined in Section 4.12(a).

     "Tangible  Personal  Property"  means all  tangible  property  of the Asset
Sellers which is used in connection with the Business and all tangible  property
of the Acquired Companies,  in each case,  including all equipment,  spare parts
and  accessories  and  other  than  Real  Property,  Intellectual  Property  and
Inventory.

     "Target  Working  Capital  Amount"  means  (euro)64.0  million,  subject to
adjustment as set forth in Section 2.5(h).

     "Tax" or  "Taxes"  means  any tax or taxes of any kind or  nature,  however
denominated,  including  any federal,  regional,  state,  provincial,  local and
foreign income or gross  receipts tax,  alternative or add-on minimum tax, value
added tax, sales and use tax, customs duty or any other tax, charge fee, levy or
other assessment including property,  transfer,  occupation,  service,  license,
payroll, franchise,  excise, withholding, ad valorem, severance, stamp, premium,
windfall  profit,  employment,  rent or other  tax of any kind  whatsoever,  and
including any interest,  penalties or additions to tax or additional  amounts in
respect of the foregoing,  including any transferee or secondary liability for a
tax and any  liability  assumed by  agreement or arising as a

                                       17
<PAGE>

result of being or  ceasing  to be a member of any  affiliated  group,  or being
included or required to be included on any Tax Return relating thereto.

     "Tax Return"  means any return or report  relating to Taxes,  including any
Schedule  or  attachment  thereto,   and  including  any  amendment  thereof  or
supplement thereto.

     "Third Party Claim" is defined in Section 10.6(a).

     "Transactions"  means the sale of the  Purchased  Assets and the  Purchased
Equity to the  Purchasers,  the  assumption  of the Assumed  Liabilities  by the
Purchasers,  and all  the  transactions  provided  for or  contemplated  by this
Agreement and in any Ancillary Agreement.

     "Transition Services Agreement" is defined in Section 3.2(l).

     "Turkey Determination" is defined in Section 11.1(i).

     "Turkey Notice" is defined in Section 11.1(i).

     "Uncollected Receivables" is defined in Section 6.22.

     "Update Period" is defined in Section 6.17.

     "Working  Capital" means, as at a particular  date, the sum of the Business
Receivables and Business Inventory,  to the extent, and only to the extent, that
such items are  included in the  Purchased  Assets or are assets of the Acquired
Companies minus Business Payables,  to the extent, and only to the extent,  that
such  Business  Payables  are  included  in  the  Assumed   Liabilities  or  are
liabilities  of the Acquired  Companies  and are not Acquired  Company  Excluded
Liabilities.

Section 1.2   Interpretation.
              --------------

(a) The headings contained in this Agreement are for reference purposes only and
shall not affect in any way the meaning or interpretation of this Agreement.

(b) Whenever the words  "include,"  "includes" or  "including"  are used in this
Agreement,   they  shall  be  deemed  to  be  followed  by  the  words  "without
limitation."

(c) The words  "hereof,"  "herein" and  "herewith"  and words of similar  import
shall,  unless  otherwise  stated,  be construed to refer to this Agreement as a
whole  and not to any  particular  provision  of this  Agreement,  and  Article,
Section,  recitals  and  Schedule  references  are  to the  Articles,  Sections,
recitals and Schedules of or to this Agreement unless otherwise specified.

(d) The meaning assigned to each term defined herein shall be equally applicable
to both the singular and the plural forms of such term,  and words  denoting any
gender shall include all genders. Where a word or phrase is defined herein, each
of its other grammatical forms shall have a corresponding meaning.

                                       18
<PAGE>

(e) A  reference  to any  party  in any  Contract  shall  include  such  party's
successors  and permitted  assigns.  A reference to a Contract shall include all
amendments   and   modifications   thereto   provided  that  such  amendment  or
modification is not made in breach of this Agreement.

(f) The Parties have  participated  jointly in the  negotiation  and drafting of
this   Agreement.   In  the  event  an   ambiguity  or  question  of  intent  or
interpretation  arises,  this Agreement shall be construed as if drafted jointly
by the Parties,  and no presumption or burden of proof shall arise  favouring or
disfavouring  any Party by virtue of the  authorship  of any  provisions of this
Agreement.

(g) All  references in this  Agreement or any  Ancillary  Agreement to the Asset
Sellers  (including  all  financial  information  contained  in or  delivered or
prepared  pursuant to this Agreement or any Ancillary  Agreement that relates to
or concerns  the Asset  Sellers) are made only with respect to (and include only
such  financial  information  as is applicable  to) the Business,  the Purchased
Assets and the Assumed  Liabilities  and not to any other business or activities
carried on by any such Asset  Seller.  The fact that certain  provisions of this
Agreement  specifically  provide as set forth in this  Section  1.2(g) shall not
detract from the generality of this Section 1.2(g).

(h)  References  to any  document  being "in the  agreed  form"  shall mean such
document signed for identification  purposes only by or on behalf of the Selling
Parties and Silgan.

(i)  References to a Party shall include any permitted  assignee or successor to
such Party in accordance with this Agreement.  References to an Acquired Company
shall  include all  subsidiaries  or  subsidiary  undertakings  of such Acquired
Company.

(j) Where it is necessary to determine a monetary amount, limit or threshold set
out in this  Agreement  and the  value of any sum to be taken  into  account  in
making that  determination is expressed in a currency other than Euros, such sum
shall be converted into Euros at the Exchange Rate on the relevant  date,  which
for the purposes of any claim under this Agreement  shall be the Business Day on
which the relevant Party receives written notification of that claim;  provided,
however,  that for the purposes of setting  forth  information  on the Schedules
hereto the relevant date shall be the date hereof.

                                   ARTICLE II
           PURCHASE AND SALE OF PURCHASED EQUITY AND PURCHASED ASSETS

Section 2.1   Equity Purchase.
              ---------------

Subject  to  Section  3.4,  at the  Closing,  on the  terms and  subject  to the
conditions set forth in this  Agreement,  the Selling  Shareholders  shall sell,
transfer,  assign, convey and deliver to the respective Purchasers as designated
by Silgan  prior to  Closing  all the  Purchased  Equity,  free and clear of all
Encumbrances,  other than  Permitted  Encumbrances,  and Silgan shall cause such
Purchasers  to  purchase  and  accept  the  Purchased  Equity  from the  Selling
Shareholders.  As with respect to the Purchased Equity of Amcor  Deutschland and
Amcor Sweden, only SWC Holdings Deutschland GmbH i.G. shall be the Purchaser and
in no way shall Silgan be (or be entitled to designate itself as) the Purchaser,
or be obligated to be Purchaser, of Amcor Deutschland or Amcor Sweden.

                                       19
<PAGE>

Section 2.2   Asset Purchase.
              --------------

(a) Description of Assets.  Subject to Section 3.4, at the Closing, on the terms
and subject to the  conditions  set forth in this  Agreement,  the Asset Sellers
shall sell, transfer, assign, convey and deliver to the respective Purchasers as
designated by Silgan prior to Closing, and Silgan shall cause such Purchasers to
purchase  and accept free and clear of all  Encumbrances,  other than  Permitted
Encumbrances,  all right,  title and  interest  of the Asset  Sellers in, to and
under all of the assets,  properties,  rights and interests of each of the Asset
Sellers of every kind, character and description,  tangible or intangible, real,
personal or mixed,  wherever  located,  and used in the Business,  including the
following but specifically excluding only the Excluded Assets (collectively, the
"Purchased Assets"):

     (i) Real Property. The fee title or other comparable title to all the Owned
Real Property and the lessee's  interest under each and all of the Real Property
Leases;

     (ii)  Tangible  Personal  Property.  All of  the  Asset  Sellers'  Tangible
Personal Property (other than Inventory) as it shall exist at the Closing Time;

     (iii)  Inventory.  All of the  Inventory  of the Asset  Sellers as it shall
exist at the Closing Time;

     (iv)  Receivables.  All  Receivables  of the Asset  Sellers  to the  extent
arising in connection with the Business as such shall exist at the Closing Time;

     (v) Intellectual  Property.  All rights of the Asset Sellers in the Company
Intellectual   Property   (subject  to  applicable   grants,   restrictions  and
limitations contained in the Licenses);

     (vi) Books and Records. All of the Asset Sellers' books, records,  ledgers,
files,  documents,  correspondence,   lists,  plans,  specifications,   surveys,
drawings,  advertising  and  promotional  materials,  engineering  reports,  and
subject to applicable  Law,  personnel  records of all  employees,  in each case
relating to the Business (in whatever form or medium),  provided,  however, that
the Asset  Sellers  shall be  allowed  to retain (a)  original  personnel  files
pertaining  to employees of the Asset  Sellers  terminated  prior to the Closing
Time, (b) copies of all personnel files  pertaining to current  employees of the
Asset Sellers at the Closing Time, and (c) copies of all employer's liability or
worker's  compensation  claim files of the Asset  Sellers as such shall exist at
the Closing Time;

     (vii) Prepaid Items. All of the Asset Sellers'  deferred  charges,  advance
payments, prepaid and deferred items (including prepaid rent), credits, security
and other  deposits,  claims for refunds,  rights of offset,  and credits of all
kinds,  in each  case to the  extent  related  to the  Purchased  Assets  or the
Business as such shall exist at the Closing Time;

     (viii)  Personal  Property  Leases.  Subject to Section 6.13,  the Personal
Property Leases of the Assets Sellers as such shall exist at the Closing Time;

     (ix)  Contracts.  Subject to Section 6.13,  all  Contracts  (other than the
Licenses,  the Real  Property  Leases and the Personal  Property  Leases) of the
Asset  Sellers  which  relate  to the  Business,  including  those  set forth on
Schedule  2.2(a)(ix)  but excluding  those set forth on

                                       20
<PAGE>

Schedule  2.2(b)(xii) as such shall exist at the Closing Time.  Those  Contracts
being assumed  pursuant to this Section 2.2(a) are  collectively  referred to as
the "Assumed Contracts";

     (x) Governmental Permits. Subject to Section 6.13, all Governmental Permits
held by the Asset Sellers which are issued,  granted or used in connection  with
the Business as such shall exist at the Closing Time;

     (xi)  Goodwill.  All  of the  goodwill  of the  Asset  Sellers  exclusively
relating to the Business;

     (xii)   Warranties.   All  rights   under  or   pursuant   to   warranties,
representations   and  guarantees   (express  or  implied)  made  by  suppliers,
manufacturers or contractors in connection with products or services provided to
the Asset Sellers in connection with the Business and the Purchased Assets;

     (xiii) Petty Cash.  All petty cash of the Asset  Sellers at the  facilities
included in the Real Property; and

     (xiv) Other Purchased  Assets.  All of the Asset Sellers' right,  title and
interest in and to those  assets,  rights and  properties  set forth on Schedule
2.2(a)(xiv).

(b) Excluded  Assets.  The Purchased  Assets to be purchased and sold hereunder,
and the term "Purchased Assets" as used herein,  shall not include the following
properties (the "Excluded Assets") of the Asset Sellers:

     (i) Cash. All of the Asset Sellers' cash, commercial paper, certificates of
deposit  and other bank  deposits,  treasury  bills and other cash  equivalents,
other than petty cash of the Asset  Sellers at the  facilities  included  in the
Real Property;

     (ii)  Insurance  Coverage  Maintained  on  Behalf  of  Asset  Sellers.  All
casualty,  liability or other  policies of insurance or coverage  maintained  on
behalf of any Asset  Seller or  Affiliate  of any Asset  Seller and any  prepaid
insurance premiums existing as of the Closing Time related to such policies;

     (iii) Tax  Refunds;  Claims.  All refunds and claims for refunds of any Tax
due to the Asset Sellers;

     (iv) Books and  Records.  All books and  records of the Asset  Sellers  not
relating to the Business;

     (v) Corporate Rights.  The right or franchise of the Asset Sellers to be an
entity and all documents pertaining thereto, including Organizational Documents,
Operating Documents, corporate seals, minute books and stock books;

     (vi) Indemnity Rights.  All indemnity and contribution  rights of the Asset
Sellers  granted to or owed by third  parties  to the extent not  related to the
Purchased Assets or the Assumed Liabilities, and any and all rights or assets to
the  extent  arising  from and  related  to the

                                       21
<PAGE>

defense, release, compromise,  discharge or satisfaction by the Asset Sellers of
Excluded Liabilities;

     (vii)  Causes of  Action.  All of the  Asset  Sellers'  causes  of  action,
judgments,  claims and  demands of whatever  nature  against  third  parties not
relating to the Business;

     (viii) Prepaid Items. All of the Asset Sellers' deferred  charges,  advance
payments, prepaid and deferred items (including prepaid rent), credits, security
and other  deposits,  claims for refunds,  rights of offset,  and credits of all
kinds,  including Taxes, in each case to the extent not related to the Purchased
Assets or the Business;

     (ix) Rights  under this  Agreement.  The Asset  Sellers'  rights under this
Agreement;

     (x) Amcor Name.  Except as set forth in Section 6.11, all right,  title and
interest  in the name  "Amcor"  and any  derivations  thereof,  and any  signage
bearing such name;

     (xi)  Bank  Accounts.  All bank  accounts,  safe  deposit  boxes,  checking
accounts or other accounts of any nature maintained by or on behalf of the Asset
Sellers;

     (xii)  Contracts.  All  Contracts  not  relating to the  Business and those
Contracts set forth on Schedule 2.2(b)(xii);

     (xiii) Real Property. All right, title and interest of the Asset Sellers in
real property other than the Real Property; and

     (xiv)  Other  Excluded  Assets.  Those  properties,  if any,  set  forth on
Schedule 2.2(b)(xiv).

Section 2.3   Assumption of Liabilities.
              -------------------------

(a) Liabilities to be Assumed by the Purchasers.  As partial  consideration  for
the  consummation of the  Transactions,  at the Closing,  Silgan shall cause the
respective  Purchasers  purchasing the Purchased  Assets as designated by Silgan
prior to Closing (each such  Purchaser to assume the  liabilities or obligations
set forth  below  that  correspond  to the  Purchased  Assets  it shall  acquire
pursuant to this  Agreement)  to assume and agree,  and as of the  Closing  Time
shall be deemed to have assumed and agreed, to perform when due and discharge in
accordance  with their  respective  terms,  only the following  liabilities  and
obligations of the Asset Sellers (the "Assumed Liabilities"):

     (i) The liabilities  and  obligations of the Asset Sellers  included in the
Closing Working Capital;

     (ii) The  accounts  payable  of the  Asset  Sellers  described  in  Section
6.10(a);

     (iii) Subject and without prejudice to the Selling Parties' indemnification
obligations under Sections 10.2 and 10.3 of this Agreement,  the liabilities and
obligations  of the Asset Sellers under the Real Property  Leases,  the Personal
Property Leases, the Licenses and the Assumed Contracts, only to the extent such
Real Property Leases,  Personal  Property Leases,

                                       22
<PAGE>

Licenses  or  Assumed  Contracts  are  assigned  to the  respective  Purchasers,
notwithstanding  that  there may be a deferred  income  item on the books of the
Subject Companies with respect to such Contracts;

     (iv) The  liabilities  and obligations of the Asset Sellers for benefits in
respect of the Employees and Retired  Employees of the Asset Sellers,  including
under Seller Benefit Plans that are Assumed Contracts;

     (v) The  liabilities  and obligations of the Asset Sellers as set forth on,
and only to the  extent  set  forth on,  Schedule  1.1(B),  consistent  with the
classifications  set forth on the Business'  chart of account codes set forth on
Schedule  1.1(B) (it being  understood  that the  amounts  set forth on Schedule
1.1(B) also  include  liabilities  and  obligations  of the  Acquired  Companies
referred  to in  clause  (v) of the  definition  of  Acquired  Company  Excluded
Liabilities); and

     (vi)  The  liabilities  and  obligations  of the  Asset  Sellers  otherwise
expressly assumed by the Purchasers pursuant to the terms of this Agreement.

(b) Excluded  Liabilities.  Other than the Assumed  Liabilities,  the Purchasers
shall  not  assume or become  responsible  for,  and shall not be deemed to have
assumed or to have become  responsible  for, any  liabilities and obligations of
any Asset Seller of any kind, whether known or unknown,  asserted or unasserted,
absolute or contingent,  accrued or unaccrued,  liquidated or unliquidated,  and
whether  due  or to  become  due  (collectively,  the  "Excluded  Liabilities"),
including the following:

     (i) any  liability or  obligation  of the Asset  Sellers  pertaining to any
Excluded Assets;

     (ii) any  liability  or  obligation  of the Asset  Sellers  with respect to
Income Taxes;

     (iii) any  liability  or  obligation  of the Asset  Sellers  in  respect of
Excluded Employees,  including pursuant to any retention  agreements,  severance
agreements,  change of control  agreements or other similar  plans,  policies or
arrangements;

     (iv) any  liability or  obligation  of the Asset Sellers (A) related to any
Employees or Retired Employees other than (a) liabilities and obligations of the
Asset  Sellers for benefits in respect of the  Employees  or Retired  Employees,
including under Seller Benefit Plans that are Assumed Contracts, (b) liabilities
and obligations  included in the Closing Working Capital and (c) liabilities and
obligations  under the Assumed  Contracts or (B) that is incurred as a result of
the Transactions  pursuant to any retention  agreements,  severance  agreements,
change of control  agreements or other similar plans,  policies or  arrangements
with or concerning the Employees or Retired Employees;

     (v) any  liability  or  obligation  of any Asset  Seller  arising out of or
relating to any facility that any Asset Seller may have owned, leased,  operated
or  otherwise  used at any  time  that is not  included  in the  Real  Property,
including any such  liabilities  or obligations  resulting from the  generation,
use, handling, presence, treatment, storage, transportation, disposal or Release
of any Hazardous  Materials at any such facility or any violations of applicable
Environmental Laws on, prior to or after the Closing Date;

                                       23
<PAGE>

     (vi) any liability or  obligation  of the Asset Sellers  arising out of any
action or  proceeding  actually  initiated and pending as of the Closing and not
listed on  Schedule  1.1(B)  or, if listed on  Schedule  1.1(B),  to the  extent
exceeding the amount of the accrual as set forth on Schedule 1.1(B);

     (vii)  any   liability  or   obligation   of  the  Asset  Sellers  for  any
non-compliance  with  applicable  Laws  prior  to the  Closing  Date  (it  being
understood   that   responsibility   for   liabilities   and   obligations   for
non-compliance  with  Environmental  Laws is  exclusively  addressed in Sections
10.2(f) and 10.3); and

     (viii)  all  liabilities  of Selling  Parties  under  this  Agreement,  any
Ancillary Agreement or any other agreement between a Selling Party and Silgan or
any of the Purchasers.

Section 2.4   Purchase Price.
              --------------

The following sets forth the aggregate  purchase price (subject to adjustment as
provided in Sections  2.4(g) and 2.5 and subject to the terms of Section 3.4) to
be paid, in addition to the assumption of the Assumed Liabilities,  by Silgan or
the Purchasers to the Selling Parties for the Purchased Equity and the Purchased
Assets (the "Purchase Price"), namely,

(a) (euro) 230 million, minus

(b) the excess of the aggregate amount of Indebtedness of Amcor Shanghai,  Amcor
Ukraine,  Amcor Polska,  Amcor  Venezuela,  Amcor South East Asia and Amcor Asia
Pacific  (whether  owed to third  parties  or, in the case of Amcor  Ukraine and
Amcor China only, to the Selling Parties or their Affiliates (other than another
Acquired  Company))  over  the  aggregate  amount  of  Indebtedness  owed to the
Acquired  Companies by third  parties  (other than the Selling  Parties or their
Affiliates,  including the Acquired  Companies) in each case, existing as of the
close of business,  local time for the Subject Companies, on the day immediately
prior to the Closing Date  (collectively the "Closing  Indebtedness"),  it being
acknowledged that if the Closing  Indebtedness is a negative number, it shall be
added to the amount set forth in Section 2.4(a), plus

(c) the  amount  (if any) of the Book  Cash  Balances  (excluding  the Book Cash
Balances of Amcor  Venezuela)  existing as of the close of business,  local time
for each Acquired Company,  net of any overdrafts in respect of bank accounts of
such Acquired Company, all on the day immediately prior to the Closing Date (the
"Closing Date Book Cash  Balances") up to (euro)11.5  million in excess of petty
cash in the aggregate; provided that to the extent such amount exceeds (euro)1.5
million in the aggregate,  only one-half of such excess amount shall  constitute
Closing  Date  Book  Cash  Balances  for  the  purposes  of the  Purchase  Price
notwithstanding  that all Acquired Companies shall retain all Book Cash Balances
after the Closing;  provided,  further that the Book Cash  Balances in excess of
(euro)1.5  million  reside in the Acquired  Companies  reasonably  acceptable to
Silgan in good faith, it being  understood  that no Acquired  Company shall have
overdrafts in respect of bank accounts of such Acquired  Company  aggregating in
excess of the Book Cash Balances of such Acquired Company, minus

(d) the amount (if any) by which the  Closing  Working  Capital is less than the
Target Working Capital Amount, plus

                                       24
<PAGE>

(e) the amount (if any) by which the Closing Working Capital is greater than the
Target Working Capital Amount.

(f) Not later than ten (10)  Business  Days  before  the  Closing,  the  Selling
Parties will in good faith  estimate,  on a  reasonable  basis using the Subject
Companies' then available financial information,  the Closing Indebtedness,  the
Closing Date Book Cash Balances and the difference  between the Closing  Working
Capital and the Target  Working  Capital  Amount,  and will  deliver the same to
Silgan,   setting  out  in  writing  reasonable  details  of  such  calculation.
Simultaneously with the delivery of the foregoing to Silgan, the Selling Parties
will deliver to Silgan a statement  setting forth the estimated  Purchase  Price
(which  shall be based on the  estimated  Closing  Indebtedness,  the  estimated
Closing Date Book Cash Balances and the estimated difference between the Closing
Working  Capital and the Target Working Capital Amount and any adjustments to be
made pursuant to Section 2.4(g)) (the "Estimated  Purchase Price").  As provided
in Section 3.3(a) and subject to the terms of Section 3.4(b), at Closing, Silgan
shall pay, or cause the Purchasers to pay the Estimated Purchase Price, less the
aggregate amount of the Holdback  Amounts for each Specified  Interest not being
transferred at the Closing Date pursuant to Section  3.4(a),  less the estimated
Closing Date Book Cash Balances  attributable  to each such Specified  Interest,
plus or less, as applicable,  the estimated Closing Indebtedness attributable to
such Specified Interests and plus or less, as applicable,  any adjustment to the
extent  based upon the  difference  between the  applicable  Specified  Interest
Target  Working  Capital  Amount  and  the  estimated  Closing  Working  Capital
attributable to each such Specified  Interest (the Estimated  Purchase Price, as
so adjusted, being referred to as the "Closing Estimated Purchase Price").

(g) To the extent  applicable,  the Purchase Price shall be reduced by an amount
equal to six (6) times the  difference  between the average  annual rent payable
under the New  German  Lease for the ten (10) year term and the  aggregate  rent
paid under the Current  German  Lease for the fiscal  year ended June 30,  2006.
Rent shall be  determined  on the same  economic  basis  under both the  Current
German Lease and the New German Lease.

Section 2.5   Post Closing Adjustment.
              -----------------------

(a)  Following  the Closing,  the Selling  Parties  shall prepare and deliver to
Silgan a statement setting forth the Closing Indebtedness, the Closing Date Book
Cash  Balances  and  the  Closing  Working  Capital,  in  each  case  separately
identifying  the amounts  attributable  to each of the Subject  Companies  (such
statement, in its final and binding form, the "Closing Statement"). Silgan shall
provide  the Selling  Parties and their  representatives  and  accountants  full
access upon reasonable advance request to the books and records of the Business,
including working papers of its accountants, and to any employees, to the extent
necessary for the Selling Parties to prepare the Closing Statement,  such access
to  continue  until the  agreement  or  determination  of the final and  binding
Closing  Statement.  The calculations of the Closing  Indebtedness,  the Closing
Date Book Cash  Balances and the Closing  Working  Capital  shall be prepared as
provided in this Section 2.5.

(b) For the purpose of  preparing  the Closing  Statement,  the Selling  Parties
shall  cause the  Subject  Companies  to conduct a physical  inventory  as of an
agreed  upon date (or dates) on or prior to Closing  of the  Subject  Companies'
Inventory  which  shall  be  valued  in  accordance  with  the  Amcor  Financial
Procedures  and Controls.  Silgan and its  representatives  shall be entitled to

                                       25
<PAGE>

observe such physical inventory and shall have full access to the relevant books
and  records of the  Selling  Parties  upon  reasonable  advance  request and to
request copies of supporting  documents for the purpose of verifying the amounts
set forth  therein.  As soon as practical  following the Closing Date and in any
event within  ninety (90) days  thereof,  the Selling  Parties shall prepare and
deliver to Silgan their proposed  Closing  Statement.  For purposes of preparing
the Closing  Statement and determination of the Final Purchase Price (as defined
in clause (f) below),  the  Parties  hereby  agree that (i) the Selling  Parties
shall translate all amounts denominated in local currencies into Euros using the
Exchange  Rate as of the  Closing  Date,  and (ii) cash  received by the Subject
Companies on the Closing Date shall be for the account of the Purchasers.

(c) Silgan  shall,  within  sixty (60) days after the  delivery  by the  Selling
Parties of the proposed Closing  Statement,  complete its review of the proposed
Closing Statement.  The Selling Parties shall provide Silgan, its Affiliates and
their respective  representatives  and accountants with reasonable access to the
books and records,  including  working  papers,  used by the Selling Parties and
their  accountants  to prepare the proposed  Closing  Statement,  such access to
continue until the agreement or  determination  of the final and binding Closing
Statement.  The proposed Closing Statement shall be binding and conclusive upon,
and deemed  accepted by, Silgan,  unless Silgan shall notify the Selling Parties
in writing within sixty (60) days after delivery of the Closing Statement of any
good faith objection  thereto (a "Silgan's  Objection").  Silgan may not deliver
more than one Silgan's  Objection and may not amend its Silgan's  Objection once
it has been delivered to the Selling Parties other than to delete objections.  A
Silgan's  Objection  shall set forth a description  in reasonable  detail of the
basis of the Silgan's Objection and the adjustments to the Closing Indebtedness,
the Closing Date Book Cash Balances and the Closing Working Capital reflected on
the proposed  Closing  Statement that Silgan  believes should be made. Any items
not disputed in a Silgan's  Objection  shall be deemed to have been  accepted by
Silgan.  The Parties agree that they shall not object to or otherwise  challenge
the Target Working  Capital  Amount.

(d) If the Selling Parties and Silgan are unable to resolve in good faith all of
their disputes with respect to the proposed Closing Statement within thirty (30)
days following the Selling Parties' receipt of a Silgan's Objection,  they shall
refer  their  remaining  differences  for  decision  to  Deloitte & Touche  LLP;
provided that the individuals  reviewing such Silgan's  Objection shall not have
worked on any matters for Amcor Australia or Silgan, provided,  however, that if
Deloitte & Touche LLP refuses to serve, is unable to serve or is not independent
of the  Parties,  the  Selling  Parties  shall  select  another  internationally
recognized firm of independent  public  accountants  that is independent of both
the Selling Parties and Silgan (Deloitte & Touche LLP or such other  accountants
being  referred  to as the "CPA  Firm").  If the  Parties do not  resolve  their
disputes within the first fifteen (15) days of such thirty (30) day period,  the
Chief  Executive  Officers  of Amcor  Australia  and Silgan  (or the  respective
members of senior  management  designated by each of them) shall attempt in good
faith to resolve any such  dispute  within the final  fifteen  (15) days of such
thirty (30) day period. The CPA Firm shall resolve any such disagreements (based
solely on its review of the  written  presentations  of Silgan  and the  Selling
Parties),  and its  decision  shall be final and  binding  on the  Parties  upon
delivery  of the  written  opinion  set forth in  sub-clause  (iii)  below.  The
procedure  and  schedule  under which any dispute  shall be submitted to the CPA
Firm shall be as follows:

                                       26
<PAGE>

     (i) Within  fifteen  (15) days after the end of the thirty  (30) day period
referred  to above,  each of Silgan and the  Selling  Parties  shall  submit any
unresolved  elements of the Closing Statement to the CPA Firm in writing (with a
copy to each other),  supported by any documents and/or affidavits upon which it
relies.

     (ii) The CPA Firm shall deliver its written opinion within twenty (20) days
following its receipt of the  information  provided for in sub-clause (i) above,
or such longer  period of time as the CPA Firm  determines  is necessary  not to
exceed  thirty  (30) days.  The scope of the  disputes to be resolved by the CPA
Firm is limited to the unresolved portion of the Silgan's Objection.  Silgan and
the Selling  Parties  shall make readily  available to the CPA Firm all relevant
books and  records  and any  working  papers  (including  those of the  Parties'
respective accountants) relating to the proposed Closing Statement and all other
items  reasonably  requested by the CPA Firm, it being  understood  that the CPA
Firm shall have the right to request additional submissions from the Parties.

     (iii) Any  expenses  relating  to the  engagement  of the CPA Firm shall be
allocated between Silgan, on the one hand, and the Selling Parties,  jointly and
severally,  on the other hand, so that Silgan's  share of such costs shall be in
the  same  proportion  that  (x) the  aggregate  amount  of the  disputed  items
submitted by Silgan to the CPA Firm that are  unsuccessfully  disputed  bears to
(y) the total amount of all disputed items  submitted by Silgan to the CPA Firm.
The Selling Parties,  jointly and severally, and Silgan shall each bear the fees
of their  respective  counsel,  auditors and other  representatives  incurred in
connection with the determination and review of the proposed Closing Statement.

(e) The proposed Closing Statement shall become final and binding on the Parties
upon the earliest of (i) if no Silgan's Objection has been given with respect to
the proposed Closing Statement, the expiration of the period within which Silgan
must make its objection  pursuant to Section 2.5(c);  (ii) the date of agreement
in writing  between the Selling  Parties  and Silgan that the  proposed  Closing
Statement,  together  with any  modifications  thereto  agreed in writing by the
Selling  Parties and Silgan,  shall be final and binding;  and (iii) the date on
which the CPA Firm shall  issue and  deliver to Silgan and Amcor  Australia  its
written  determination  with  respect to any dispute  relating  to the  proposed
Closing Statement.

(f) Promptly after the Closing  Statement and the  determination  of the Closing
Indebtedness,  the  Closing  Date Book Cash  Balances  and the  Closing  Working
Capital  become  final and binding  under clause (e) above,  the Purchase  Price
shall,  to the  extent  required,  be  recalculated  by  giving  effect  to such
components of the Purchase  Price as are set forth in the Closing  Statement (as
recalculated,  the "Final  Purchase  Price").  Subject to any  adjustments  made
pursuant to Section 2.5(h), if the Estimated  Purchase Price is greater than the
Final Purchase Price, the Selling Parties, jointly and severally,  shall, and if
the Final Purchase Price is greater than the Estimated  Purchase  Price,  Silgan
shall, or shall cause the Purchasers to, within five (5) Business Days after the
Closing Statement becomes final and binding on the Parties, make payment by wire
transfer to an account  specified by Silgan or the Selling Parties,  as the case
may be,  in  immediately  available  funds  of the  amount  of such  difference,
together with  interest  thereon from the Closing Date to the date of payment at
the Closing Date Interest Rate,  which interest shall be calculated on the basis
of a  360-day  year  and the  actual  number  of days  elapsed.  Notwithstanding
anything  herein to the contrary,  any amounts that are owed by one Party to the

                                       27
<PAGE>

other  pending  final  resolution  of the Final  Purchase  Price that are not in
dispute  between  the  Selling  Parties and  Purchaser  in the Selling  Parties'
proposed Closing Statement shall promptly be paid (plus any interest  calculated
in accordance with this clause (f)) by the relevant Party no later than five (5)
Business Days following  delivery by the Selling Parties of the proposed Closing
Statement and the disputed  portion of the Final Purchase Price shall be paid as
provided above.

(g)  Notwithstanding  anything  herein to the contrary,  the Silgan  Indemnitees
shall not be  entitled  to make any claim for  indemnification  pursuant to this
Agreement if such claim was raised by Silgan in the Silgan's  Objection  for the
purpose of adjusting  the  Estimated  Purchase  Price in  determining  the Final
Purchase Price.

(h) In the event that  pursuant to Section 3.4, any of the  Specified  Interests
are not  transferred to the applicable  Purchaser  prior to the date the Closing
Statement  becomes  binding and final,  for the purpose of determining the Final
Purchase  Price,  the  Target  Working  Capital  Amount  shall be reduced by the
applicable Specified Interest Target Working Capital Amount, each of the Closing
Date Book Cash Balances and the Closing Date Working Capital shall be reduced by
the respective amounts  attributable to such Specified Interests and the Closing
Indebtedness shall be increased or decreased,  as applicable,  by the respective
amounts  attributable  to such Specified  Interest,  as set forth in the Closing
Statement and the Selling Parties or Silgan and the  Purchasers,  as applicable,
shall pay any amounts due under Section 2.5(f) only for the Purchased Equity and
Purchased Assets  transferred to the Purchasers  prior to the Closing  Statement
becoming  final and binding.  The  applicable  Selling  Party or the  applicable
Purchaser  shall  pay  the  portion  of the  adjustment  to the  Purchase  Price
calculated  in  accordance   with  Section   2.5(f)  and  this  Section   2.5(h)
attributable  to any  Specified  Interest  not  transferred  to  the  applicable
Purchaser prior to the date the Closing Statement becomes binding and final (the
"Specified  Interest  Adjustment  Amount")  only at such time,  if any,  as such
Specified  Interest  is sold  pursuant  to  Section  3.4(b).  If such  Specified
Interest  is not  sold  to the  applicable  Purchaser,  the  Specified  Interest
Adjustment  Amount  shall  not be paid by either  the  applicable  Purchaser  or
Selling Party.

Section 2.6   Allocation of Purchase Price.
              ----------------------------

An allocation of the Purchase Price shall be mutually agreed to in good faith by
the Parties prior to the Closing (the  "Purchase  Price  Allocation");  provided
that the Parties have agreed that (euro)30.0 million of the Purchase Price shall
be allocated to the Purchased  Assets of Amcor U.S. and Amcor  Australia and the
Non-Compete  Agreement,  in the aggregate and (euro)33.0 million of the Purchase
Price shall be  allocated to the  purchase of Newco  Italy.  The Purchase  Price
Allocation  shall be prepared in a manner  consistent with all applicable  Laws.
The Parties  agree that any  adjustment  to the Purchase  Price made pursuant to
Section 2.5(f) or Section 3.4 shall be allocated (i) to the extent possible,  to
the specific Purchased Equity, Purchased Asset or Assumed Liability with respect
to which the  adjustment  was made, and (ii) otherwise on a pro-rata basis among
all of the Purchased Equity, the Purchased Assets and Assumed  Liabilities,  and
shall result in a revised Purchase Price Allocation,  all such adjustments to be
applied  consistently  by the Selling  Parties and Silgan.  The Parties agree to
procure that all Tax Returns will be filed  consistently with the Purchase Price
Allocation,  subject to adjustment  (if any) as  aforesaid,  and to not take any
position  inconsistent  therewith  unless  required to do so by applicable  Law.
Silgan and the

                                       28
<PAGE>

Selling Parties shall promptly inform one another in writing of any challenge by
any taxing  authority to any  allocation  made  pursuant to this Section 2.6 and
agree to consult with and keep one another  informed  with respect to the status
of, and any material  discussion,  proposal or  submission  with respect to, any
such challenge.

                                  ARTICLE III
                                  THE CLOSING

Section 3.1   Time and Place of Closing.
              -------------------------

The  consummation  of the  Transactions  (the  "Closing")  shall  be held at the
offices of Silgan's counsel or at such other location or locations as reasonably
agreed to by the  Selling  Parties  and  Silgan,  and shall occur at 10:00 a.m.,
local  time in New  York  (or  such  other  time as  mutually  agreed  to by the
Parties).  The  Closing  shall  occur on such date as  promptly  as  practicable
following the satisfaction  and/or waiver of all conditions to Closing set forth
in Article VII (other than  conditions  to be satisfied on the Closing  Date) as
reasonably  agreed to by the Selling Parties and Silgan,  but except as provided
in the proviso to this  sentence in no event later than (10) Business Days after
such conditions are satisfied and/or waived; provided that in no event shall the
Closing Date be before ninety (90) days from the date hereof,  unless  otherwise
mutually agreed to by the Parties (the "Closing  Date").  Subject to Section 3.4
and Section  3.5,  the  Closing as it relates to each of the  Subject  Companies
shall be effective as of 12:01 a.m., local time for such Subject Company, on the
Closing Date (the "Closing Time").

Section 3.2   Selling Parties' Deliveries.
              ---------------------------

On or before Closing,  the Selling Parties shall deliver to Silgan (or as Silgan
directs) the following:

(a) Purchased  Equity  Certificates.  Certificate(s)  representing the Purchased
Equity (if such equity is represented by a certificate),  such certificate(s) to
be  duly  and  validly  endorsed  in  favor  of  the  respective  Purchasers  or
accompanied  by a separate  stock power or transfer or assignment (or comparable
document) duly and validly  executed by the  registered  holder of the Purchased
Equity, sufficient to vest in the Purchasers good title to the Purchased Equity,
or other  evidence  as is  customary  under the  applicable  Law  governing  the
corporate aspects of such Acquired Company such that good title to the Purchased
Equity of such Acquired Company has been transferred to the Purchasers;

(b) Local Agreements.  Duly executed Local Agreements by the applicable  Selling
Parties as set forth in Section 3.5 hereof;

(c) Consents.  The Consents and notices  required prior to Closing  described on
Schedule 3.2(c);

(d)  Corporate  Approval.  Copies,  certified  by the  respective  Secretary  or
Assistant  Secretary  of each  Selling  Party,  of the  approval by the board of
directors,  executive  board and  supervisory  board, as applicable (or where no
such bodies exist in a particular  jurisdiction,  the managing director) of such
Selling  Party  authorizing  the  execution,  delivery and  performance  of this
Agreement,  the Ancillary  Agreements  and all other  agreements,  documents and
instruments  relating  hereto  to which  such  Selling  Party is a party and the
consummation of the Transactions;

                                       29
<PAGE>

(e)  Deeds.  Special  warranty  deeds (or the local  equivalent)  (the  "Deeds")
sufficient to transfer and convey good fee or other  comparable title to each of
the Asset Sellers' Owned Real Property to the Purchasers;

(f) Acquired Company Director  Resignations.  Resignations of such directors and
officers of the Acquired Companies as may be requested in writing by Silgan;

(g) Italian Tax Certificate.  The tax certificate  attesting the outstanding tax
liabilities  of the going concern to be  contributed  to Newco Italy as provided
under Article 14 of Legislative  Decree 472/97 from the relevant tax authorities
in Italy;

(h) Data Room Disk. One copy of the Data Room Disk (it being  acknowledged  that
the Data Room Disk is not the only information made available to Silgan);

(i)  Non-Compete   Agreement.   The  Non-Compete  Agreement  executed  by  Amcor
Australia;

(j)   Instruments  of  Transfer.   Instruments  of  assignment  and  such  other
assignments,  bills of sale,  certificates  of title  and other  instruments  of
transfer  (collectively,  the "Bills of Sale") as are  reasonably  necessary  to
convey  fully  and  effectively  to  the  Purchasers  the  Purchased  Assets  in
accordance with the terms hereof;

(k) Opinions.  Opinions of legal counsel in each jurisdiction of organization of
each  Selling  Shareholder  and Subject  Company in the form of Schedule  3.2(k)
hereto,  subject to such  assumptions  and  qualifications  as are customary and
usual to the practice in each such jurisdiction for a transaction of this type;

(l)  Transition  Services  Agreement.   The  Transition  Services  Agreement  as
described in Section 6.16 hereof (the "Transition Services Agreement");

(m) Officer's Certificates.  Duly executed officer's  certificates,  dated as of
the Closing  Date,  with respect to the matters set forth in Section  7.2(a) and
Section 7.2(b) hereof;

(n) Good Standing  Certificates.  Certificates  of good standing (or  comparable
documents, if any, as applicable) issued from jurisdictions in which the Subject
Companies are formed or  organized,  dated not more than seven (7) days prior to
the Closing Date or such longer period reasonably  satisfactory to Silgan as may
reasonably be required by the Selling Parties; and

(o) Other Assurances. Such certificates,  assurances and documents as Silgan may
reasonably request prior to the Closing Date in order to effectuate the Closing.

Section 3.3   Silgan's Deliveries.
              -------------------

At Closing,  Silgan shall deliver,  or shall cause the Purchasers to deliver, to
the Selling Parties (or as the Selling Parties direct) the following:

(a) Payment of Closing Estimated  Purchase Price. The Closing Estimated Purchase
Price  shall be paid by wire  transfer  in  immediately  available  funds to the
Selling  Parties (to such bank  account(s) as is or are designated in writing by
the Selling  Parties at least two (2) Business  Days

                                       30
<PAGE>

prior to the  Closing  Date)  (it being  understood  that  with  respect  to the
purchase of Amcor  Deutschland and Amcor Sweden,  only SWC Holdings  Deutschland
GmbH i.G.  shall make such payment or, if Silgan  makes the payment,  Silgan may
only do so on behalf of and for the  account of SWC  Holdings  Deutschland  GmbH
i.G.);

(b) Local Agreements. Duly executed Local Agreements by the applicable Purchaser
as set forth in Section 3.5 hereof;

(c) Consents.  The Consents and notices  required prior to Closing  described on
Schedule 5.3;

(d) Corporate  Approval.  Copies,  certified by the  respective  Secretary or an
Assistant  Secretary  of Silgan,  of the  approval by the board of  directors of
Silgan  authorizing  the execution,  delivery and performance of this Agreement,
the Ancillary  Agreements  and all other  agreements,  documents or  instruments
relating  hereto  to  which  Silgan  is a  party  and  the  consummation  of the
Transactions;

(e)  Assumptions.  Instruments of assumption in form reasonably  satisfactory to
the Asset Sellers (the "Assumption Agreements") pursuant to which the applicable
Purchaser assumes the Assumed Liabilities;

(f) [Intentionally omitted];

(g) Officer's Certificates. Duly executed officer's certificates dated as of the
Closing  Date,  with  respect to the  matters  set forth in  Section  7.3(a) and
Section 7.3(b) hereof; and

(h) Other Assurances. Such certificates, assurances and documents as the Selling
Parties may reasonably request prior to the Closing Date in order to effectuate
the Closing.

Section 3.4   Failure to Obtain Specified Approvals.
              -------------------------------------

(a)  Notwithstanding  anything to the contrary in this  Agreement,  in the event
that all of the conditions  precedent to the Parties'  obligations to effect the
Closing  pursuant  to Article  VII  hereof  have been  satisfied  but any of the
Specified  Approvals have not been obtained,  then the Parties will be obligated
to effect the Closing in  accordance  with Sections 3.1, 3.2 and the other terms
of this  Agreement with respect to the sale and purchase of all of the Purchased
Equity and Purchased  Assets except the Purchased Equity of the Acquired Company
or Acquired  Companies with respect to which the Specified Approval has not been
so obtained  (each,  a  "Specified  Interest").  In such event,  the  applicable
Selling Party or Selling  Parties will not be obligated to sell, and Silgan will
not be obligated to cause the  applicable  Purchaser or  Purchasers to purchase,
any such  Specified  Interest at the  Closing and the terms of this  Section 3.4
shall  govern;  provided  that  (i)  Silgan  shall  have  the  right in its sole
discretion  to waive the receipt of the  Specified  Approval in respect of Amcor
Asia Pacific,  Amcor South East Asia,  Amcor  Investments and Amcor  Properties,
collectively, prior to Closing or during the Specified Time Period and, assuming
all other conditions precedent to the Parties' obligations to effect the Closing
pursuant to Article VII hereof have been satisfied, the applicable Selling Party
shall  then be  obligated  to sell such  Specified  Interest  to the  applicable
Purchaser if Silgan so elects and (ii) Amcor  Australia  shall have the right in
its sole discretion to waive the receipt of the Specified Approval in respect of
Amcor Venezuela  relating to the  distribution of the Book Cash Balances

                                       31
<PAGE>

of such Specified  Interest prior to Closing or during the Specified Time Period
and,  assuming all other  conditions  precedent to the Parties'  obligations  to
effect the  Closing  pursuant to Article  VII hereof  have been  satisfied,  the
applicable Purchaser shall then be obligated to purchase such Specified Interest
if Amcor Australia so elects. The applicable Selling Party shall continue to own
such  Specified  Interest for all  purposes,  and the Parties shall enter into a
Specified Interest  Management  Agreement on terms mutually  satisfactory to the
Parties,  acting reasonably,  which shall include a management fee to be paid to
Silgan  or the  respective  Purchaser  in an  amount  equal  to the cash of such
Specified  Interest,  after the Closing in excess of the Closing  Date Book Cash
Balance of such  Specified  Interest (the  "Management  Fee"),  provided that in
respect of Amcor Asia  Pacific,  Amcor South East Asia,  Amcor  Investments  and
Amcor  Properties,  Silgan is not  obligated to enter into a Specified  Interest
Management Agreement at the Closing if in Silgan's reasonable discretion it does
not believe the amendment to the Cerebos  Agreement  described in the definition
of Specified  Approval  shall be obtained.  Such Specified  Interest  Management
Agreement shall also provide an indemnity (except for gross negligence,  willful
misconduct  and fraud) for the benefit of Silgan and the  respective  Purchaser.
Pursuant  to  such  Specified  Interest  Management  Agreement,  Silgan  or  the
respective  Purchaser  shall  operate  the  applicable  Acquired  Company in the
ordinary  course  consistent  with  past  practice   (including  making  capital
expenditures  in the ordinary course of business and not incurring new debt) for
the benefit of the respective  Acquired  Company and Amcor  Australia until such
Specified  Approval is  obtained.  During such time as Silgan or the  respective
Purchaser  is  operating  the  applicable  Acquired  Company  pursuant  to  such
Specified  Interest  Management  Agreement,  in the event the cash needs of such
Acquired Company exceed its operating cash flows plus the Closing Date Book Cash
Balances of such Acquired  Company,  first Silgan shall  reimburse such Acquired
Company any Management Fee it has been paid by such Acquired Company, if any, to
the extent of such cash  shortfall,  and, if such  Acquired  Company still has a
cash  shortfall,  then the  applicable  Selling Party shall be obligated to fund
such cash shortfall.  To the extent the applicable  Selling Party funds any cash
shortfall as required  herein,  such Selling  Party shall be  reimbursed  to the
extent of such funding  prior to Silgan  receiving any  Management  Fee for such
Specified  Interest.  All capital  expenditures  not in the  ordinary  course of
business of any Acquired  Company  being  operated by Silgan  shall  require the
approval of the applicable  Selling Party,  such approval not to be unreasonably
withheld,  conditioned  or delayed.  In the event that the  purchase and sale of
such Acquired  Company closes in accordance  with this Section 3.4, Silgan shall
repay to the applicable Selling Party any cash shortfalls such Selling Party was
required  to fund for such  Acquired  Company in  accordance  with this  Section
3.4(a) that were not previously  reimbursed.  If the Parties are unable to agree
on the terms of such  management  agreement,  or if any such Specified  Interest
Management  Agreement is not  permitted by  applicable  Law, or if Silgan or the
applicable Purchaser with respect to Amcor Asia Pacific,  Amcor South East Asia,
Amcor Investments and Amcor Properties shall have elected not to enter into such
Specified  Interest  Management  Agreement  as provided  above,  the  applicable
Selling Party shall continue to operate the applicable  Acquired Company,  under
its own direction and control, but in compliance with the covenants set forth in
this  Agreement,  at its sole  expense  and for its  sole  benefit,  until  such
Specified  Approval is obtained,  in which event Silgan shall make  available to
the applicable Selling Party all Company Intellectual  Property provided to such
Acquired  Company  as of the  Closing  Date,  for a period  until the end of the
Specified  Time Period,  as it may be  extended,  on a  royalty-free,  exclusive
basis,  as may  reasonably be necessary in order to permit such Selling Party to
operate the business of the applicable Acquired Company

                                       32
<PAGE>

as it was  operated  prior to Closing.  The  Purchasers  and the other  Acquired
Companies  shall also provide during the Specified Time Period to the applicable
Acquired  Company such services  reasonably  required by such  Acquired  Company
substantially  as provided by the  Business as of the Closing  Date,  for prices
charged to such party as reflected in the  Financial  Statements  as of June 30,
2005.  If the Selling  Parties are  operating the  applicable  Acquired  Company
pursuant to the foregoing,  the Selling Parties shall not transfer or distribute
any cash or cash  equivalents  out of such Acquired  Company prior to the end of
the applicable Specified Time Period.

(b) If any Specified Approval required for the sale or purchase of any Specified
Interest is obtained  within the applicable  Specified Time Period,  the Parties
shall  then be  obligated  to  close  the sale and  purchase  of such  Specified
Interest  as  soon as  reasonably  practicable  following  the  receipt  of such
Specified  Approval  under the  terms and  pursuant  to the  provisions  of this
Agreement,  in which case all representations,  warranties,  covenants,  closing
conditions and indemnities shall continue to apply to such Specified  Interests.
Upon such  closing  specified  above,  the  applicable  Purchaser  shall pay the
Holdback  Amount  attributable  to such  Specified  Interest and the  applicable
Purchaser or the  applicable  Selling  Party,  as the case may be, shall pay the
Specified Interest  Adjustment Amount, if any, calculated as of the Closing Date
as set forth in Section 2.5(h).  If within the applicable  Specified Time Period
any  Specified  Approval  required  for the sale or  purchase  of any  Specified
Interest (except Sprint Brazil) is not obtained,  the Parties shall no longer be
obligated  to  close  the  sale  and  purchase  of such  Specified  Interest  in
accordance  herewith  other than pursuant to the remainder of this  paragraph or
other than pursuant to Section  3.4(c).  If in such case the applicable  Selling
Party  used its  commercially  reasonable  efforts  in good  faith to obtain any
Specified  Approval required for the sale or purchase of any Specified  Interest
(except  Sprint  Brazil)  within  the  applicable  Specified  Time  Period,  the
applicable Specified Interest Management Agreement shall remain in effect for an
additional  three (3) months,  or the Specified  Time Period shall extend for an
additional  three  (3)  months  if there  is no  Specified  Interest  Management
Agreement,  in each case if the Parties  mutually  agree,  during which time, if
such Specified  Approval is obtained the Parties shall be obligated to close the
purchase and sale of such Specified  Interest in accordance with Section 3.4(a).
If  in  such  case  the  applicable  Selling  Party  shall  not  have  used  its
commercially  reasonable  efforts in good faith to obtain any Specified Approval
required  for the sale or  purchase of any  Specified  Interest  (except  Sprint
Brazil) within the applicable  Specified Time Period and such Specified Approval
is not obtained, Silgan shall have the right by giving notice to Amcor Australia
not less than thirty (30) days prior to the end of the applicable Specified Time
Period to continue to operate the applicable  Specified  Interest (except Sprint
Brazil)  under  the  terms  of  the  applicable  Specified  Interest  Management
Agreement  for an  additional  three  (3)  months or to  extend  the  applicable
Specified  Time Period in the event there is no  Specified  Interest  Management
Agreement for an additional three (3) months. If such Specified  Approval is not
obtained by the end of such  additional  three (3) month period,  the applicable
Specified  Interest  Management  Agreement  shall  terminate.  If such Specified
Approval is obtained during such three (3) month period,  then the Parties shall
be obligated to close the purchase and sale of such Specified  Interest  (except
Sprint  Brazil) in  accordance  with Section  3.4(a).  If within the  applicable
Specified Time Period the Specified  Approval  required for the sale or purchase
of Sprint  Brazil is not  obtained,  at Gold's  option by giving notice to Amcor
Australia  not less than  thirty  (30) days  prior to the end of the  applicable
Specified  Time  Period,  such  Specified  Time Period  shall be extended for an
additional six (6) months.  If the Specified  Approval for the purchase and sale
of Sprint Brazil is not obtained within such extended Specified Time Period,

                                       33
<PAGE>

the  Parties  shall no longer be  obligated  to close the sale and  purchase  of
Sprint Brazil in accordance  herewith other than pursuant to Section 3.4(c).  If
within the applicable  Specified Time Period any Specified Approval required for
the sale or purchase of any  Specified  Interest is  determined  mutually by the
Parties  acting  reasonably  to  not be  obtainable,  the  applicable  Specified
Interest  Management  Agreement  shall  terminate  on the date  chosen  by Amcor
Australia  not later than thirty (30) days after such  determination  unless the
Parties  mutually  agree to continue  such  agreement.  If a Specified  Interest
Management Agreement terminates,  the applicable Selling Party shall continue to
own and may, in its sole  discretion,  operate the applicable  Acquired  Company
under  its own  direction  and  control,  at its sole  expense  and for its sole
benefit,  in which event the  applicable  Purchaser  shall make available to the
applicable Acquired Company all Company  Intellectual  Property provided to such
Acquired Company as of the Closing Date, for a royalty fee of 3% of net sales of
such Acquired Company  (provided that, at Silgan's option,  Silgan may no longer
maintain such intellectual  property in which case the applicable  Selling Party
shall no longer be obligated to pay any royalty fee), on a perpetual  basis, and
(i)  exclusive  to  manufacture  and sell in such country  where the  applicable
Specified  Interest is manufacturing at such time and (ii) non-exclusive to sell
products  in such other  countries  where  such  Specified  Interest  is selling
products at such time,  as may  reasonably  be necessary in order to permit such
Acquired  Company to operate its  business as it was  operated as of the Closing
Date; provided that in addition to the foregoing Silgan and its Affiliates shall
not,  directly  or  indirectly,  compete  for or accept (i) the  business of the
customers  of Amcor Asia  Pacific  and Amcor  South East Asia for the  Bandguard
product as such business  exists as of the Closing in countries where Amcor Asia
Pacific and Amcor South East Asia were selling such Bandguard  products to those
customers  and  (ii) if and only if the  applicable  Purchaser  managed  for any
period of time the  business  of Amcor Asia  Pacific  and Amcor  South East Asia
under a Specified Interest Management  Agreement,  the business of the customers
of Amcor Asia  Pacific  and Amcor South East Asia for metal  vacuum  closures as
such business exists as of the Closing in countries where Amcor Asia Pacific and
Amcor  South  East  Asia  were  selling  such  metal  vacuum  closures  to those
customers..  The Purchasers and the other Acquired  Companies shall also provide
the  applicable  Acquired  Company  such  services  reasonably  required by such
Acquired  Company  substantially  as provided  by the  Purchasers  and  Acquired
Companies  prior to the  Closing  Date,  for a period of six (6) months from the
Closing Date (it being agreed that the Parties shall  negotiate in good faith an
extension  of such  period for any  service  the  Acquired  Company  (with Amcor
Australia) acting reasonably has not been able to provide itself or procure from
a third  party)  and for  prices  charged  to such  party  as  reflected  in the
Financial  Statements  as of  June  30,  2005.  Amcor  Australia  or  any of its
Affiliates  may exercise the rights of the Acquired  Companies  hereunder if the
Specified Interest Management Agreement has terminated.

(c) If any  Specified  Interest  (other than Amcor  South East Asia,  Amcor Asia
Pacific,  Amcor Investments and Amcor  Properties,  collectively) is not sold to
the  applicable  Purchaser at the Closing or in  accordance  with the  foregoing
provisions of this Section 3.4, then Amcor Australia and its Affiliates shall be
prohibited from selling (whether by sale of stock,  all or substantially  all of
the assets or otherwise)  such  Specified  Interest for five (5) years after the
termination of the applicable  Specified  Interest  Management  Agreement (or if
there is no such Specified Interest Management  Agreement,  after the end of the
applicable Specified Time Period) except in accordance with this Section

                                       34
<PAGE>

3.4(c).  At any time after the Specified Time Period if the  applicable  Selling
Party or any  Affiliate  of Amcor  Australia  proposes  to sell  such  Specified
Interest, it shall first offer such Specified Interest to Silgan pursuant to the
terms of this Section 3.4(c).  The applicable Selling Party shall provide Silgan
with a written notice specifying the proposed  purchase price,  terms of payment
and all other material terms and conditions of the offer (the "Offeree Notice").
Silgan  shall  have the right,  for a period of sixty (60) days (or thirty  (30)
days if Silgan is managing the business of such Specified  Interest  pursuant to
the  applicable  Specified  Interest  Management  Agreement)  after such Offeree
Notice is given (the  "Refusal  Period"),  to accept the offer set forth in such
Offeree  Notice  by  giving  written  notice  to the  applicable  Selling  Party
containing  its  acceptance.  During the Refusal  Period,  Silgan shall have the
right to conduct due diligence in respect of such Specified Interest as it shall
reasonably  require.  If, within the Refusal Period,  Silgan gives such a notice
containing its  acceptance,  then the  applicable  Selling Party shall sell such
Specified  Interest  in  whole to  Silgan  or its  Affiliate  on the  terms  and
conditions set forth in the Offeree Notice. If within the Refusal Period, either
(i) Silgan does not give the applicable  Selling Party such a notice  containing
its acceptance or (ii) Silgan gives notice that it rejects the terms outlined in
the Offeree  Notice,  then the  applicable  Selling Party shall have one hundred
eighty  (180) days from the  expiration  of the  Refusal  Period  (the  "Refusal
Transfer Period") to consummate the sale of such Specified  Interest in whole to
a third party only at a purchase price not lower than the purchase price offered
to Silgan in the Offeree Notice and on terms and conditions not materially  less
favorable in the  aggregate to the  applicable  Selling Party than the terms and
conditions  offered to Silgan in the Offeree Notice.  If the applicable  Selling
Party does not consummate  the sale of such Specified  Interest to a third party
within the Refusal Transfer Period as provided in the preceding  sentence,  then
such Specified  Interest  shall again become subject to all of the  restrictions
upon transfer set forth in this Section 3.4(c).

(d) The  terms and  conditions  relating  to the  management  of such  Specified
Interest as set forth in this Section 3.4 will be more specifically set forth in
the  agreements  governing  the  management  of such  Specified  Interests to be
entered into, if necessary,  upon Closing (the  "Specified  Interest  Management
Agreements").

(e) Without any  obligation  on either  Party,  if Silgan elects not to purchase
Amcor  Asia  Pacific,  Amcor  South  East  Asia,  Amcor  Investments  and  Amcor
Properties  on the  Closing  Date the  Parties  shall seek to work  together  to
separate the Philippines metal closures and Philippines  Bandguard  business and
to sell the Philippines metal closures business to Silgan on terms  satisfactory
to the Parties, in their sole discretion.

Section 3.5   Local Closings.
              --------------

To the extent  that any closing of the sale and  purchase  of (i) the  Purchased
Equity with respect to any Acquired  Company or (ii) any of the Purchased Assets
is required to occur within the  jurisdiction of the respective  Selling Party's
or  Acquired  Company's  formation  (whether  by  reason  of  notarial  deed  or
otherwise)  (any such closing,  a "Local  Closing"),  such Local Closing  shall,
subject to Section 3.4,  take place in escrow not less than one (1) Business Day
and not more than three (3) Business Days before the Closing Date (but not prior
to the  satisfaction or waiver of all of the conditions set forth in Article VII
(other than those  conditions  to be  satisfied  on the  Closing  Date)) in such
jurisdiction at the offices of Selling Parties' counsel in such  jurisdiction or
such other  location as the parties may agree.  It is understood and agreed that
the applicable Selling Party may each execute with the applicable Purchaser such
instruments  of  transfer as are  required  under  applicable  Law to effect the
transfer and conveyance of the

                                       35
<PAGE>

applicable  Purchased Equity and/or the applicable  Purchased Assets at any such
Local Closing (the "Local Agreements"). It is further understood and agreed that
the Local  Agreements  are  intended to act only as the  operative  documents of
transfer, and that such Local Agreements shall not alter, modify or amend in any
way any of the  terms or  provisions  of this  Agreement,  including  the  terms
relating to representations  and warranties or  indemnification,  save as may be
required  by  applicable  Law in the  relevant  jurisdiction.  To the extent any
conflict exists between any of the terms of Local Agreements and this Agreement,
the terms of this Agreement shall prevail.

                                   ARTICLE IV
              REPRESENTATIONS AND WARRANTIES OF THE SELLING PARTIES

Except as disclosed in the attached  Schedules  prepared by the Selling  Parties
and delivered to Silgan  simultaneously  with the execution hereof,  the Selling
Parties,  jointly  and  severally,  represent  and  warrant  to  Silgan  and the
Purchasers as hereinafter  set forth.  For purposes of the  representations  and
warranties of the Selling  Parties  contained  herein,  disclosure in any of the
Schedules  attached hereto of any facts or  circumstances  shall be deemed to be
disclosure of such facts or  circumstances  with respect to all  representations
and  warranties  by  the  Selling   Parties   calling  for  disclosure  of  such
information,  whether or not such disclosure is specifically  associated with or
purports to respond to one or more or all of such representations and warranties
if it is reasonably  apparent on the face of the Schedule  that such  disclosure
relates to the subject matter  thereof.  The inclusion of any information in any
Schedule  pursuant to this  Agreement  shall not be deemed to be an admission or
evidence of the  materiality  of such item, nor shall it establish a standard of
materiality for any purpose whatsoever.  For purposes of the representations and
warranties of the Selling Parties contained  herein,  the Parties agree that for
matters  referencing  "(euro)"  or  "Euros",  the  Exchange  Rate for the  local
currency  of a Subject  Company as of the date hereof  shall be used,  except as
herein  otherwise  contemplated or provided.  Notwithstanding  any disclosure on
Schedule  4.14  and  4.20  (as  it  relates  to  employee  claims),  the  Silgan
Indemnitees have a claim for indemnification under Section 10.2(c) as it relates
to the Asset Sellers and Section 10.2(g) as it relates to the Acquired Companies
for all items disclosed on such Schedules, to the extent in excess of the amount
for "Litigation" set forth on Schedule 1.1(B). Notwithstanding any disclosure on
Schedule  4.28,  either any item disclosed on such Schedule shall be governed by
Section 6.23 or the Silgan  Indemnitees  shall have a claim for  indemnification
under Section 10.2(e), as applicable, for all items disclosed on such Schedule.

Section 4.1   Organization and Qualification of the Selling Parties and the
              --------------------------------------------------------------
              Acquired Companies.
              ------------------

Schedule  4.1(A)  sets forth the name and  jurisdiction  of  formation  for each
Subject Company and Selling Party. Each Subject Company and Selling Party (i) is
validly  existing and in good  standing  under the Laws of its  jurisdiction  of
formation; (ii) has all requisite power, authority, legal capacity to own, lease
and operate its properties and to carry on its business as now being  conducted;
and (iii) to the extent applicable, is duly qualified or licensed to do business
in each jurisdiction in which the character of the properties  owned,  leased or
operated  by it or the  nature of its  activities  makes such  qualification  or
licensing  necessary,  except  where the failure to be so qualified or licensed,
either singularly or in the aggregate, would not have, or be reasonably

                                       36
<PAGE>

expected to have,  a Material  Adverse  Effect.  Except as set forth in Schedule
4.1(A), (i) the Organizational Document and Operating Document for each Acquired
Company have been  furnished  to Silgan and are  complete and correct,  (ii) the
minute books  (containing  the records of meetings of the equity holders and the
board of directors, executive board and supervisory board or other similar body,
as applicable) of each Acquired Company include the minutes of all meetings held
by,  and all  consents  obtained  from,  the  equity  holders  or the  board  of
directors,  executive  board and  supervisory  board or other  similar  body, as
applicable, since July 1, 2002 where decisions material to such Acquired Company
were made,  (iii) the stock  certificate  books and the stock  record  books (or
other  registry of Capital  Stock) of each  Acquired  Company are  complete  and
correct  for all  periods  since  July 1,  2002,  and (iv) none of the  Acquired
Companies  are  in  default  under  or in  violation  of  any  provision  of its
Organizational Document or its Operating Document.  Schedule 4.1(B) sets forth a
list of all of the officers and directors of each Acquired Company.

Section 4.2   Authorization.
              -------------

Each  Selling  Party  has the  legal  right and  requisite  power and  authority
(including pursuant to its Operating  Documents or Organizational  Documents) to
execute and deliver and perform its  obligations  under this  Agreement  and the
Ancillary Agreements to which it is a party, and to consummate the Transactions.
The execution,  delivery and performance by each Selling Party of this Agreement
and the Ancillary  Agreements to which it is a party and the consummation of the
Transactions  have been duly  authorized  by the board of  directors,  executive
board and  supervisory  board, as applicable (or where no such bodies exist in a
particular  jurisdiction,  the managing  director) of such Selling Party, and by
the  registered  holders of the Capital Stock of such Selling Party (if required
by  applicable  Law),  and no other  action on the part of any Selling  Party is
necessary to authorize  the execution and delivery by such Selling Party of this
Agreement or the Ancillary Agreements to which it is a party or the consummation
of the Transactions.

Section 4.3   Execution; Validity of Agreement.
              --------------------------------

Each Selling  Party has duly  executed and  delivered  this  Agreement and shall
execute  and  deliver  each  Ancillary  Agreement  to which it is a party.  This
Agreement is, and each of the  Ancillary  Agreements to which it is a party when
executed and delivered  will be, a valid and binding  obligation of each Selling
Party,  enforceable  against such Selling Party in  accordance  with their terms
except (i) as  limited by  applicable  bankruptcy,  insolvency,  reorganization,
moratorium,  fraudulent conveyance and other similar Laws of general application
affecting enforcement of creditors' rights generally,  and (ii) the availability
of the remedy of specific  performance or injunctive or other forms of equitable
relief  may be  subject  to  equitable  defenses  and  would be  subject  to the
discretion of the court before which any proceeding therefor may be brought.

Section 4.4   Consents and Approvals; No Violations.
              -------------------------------------

Except as set forth in Schedule 4.4 and for the filings, Consents and notices as
may be required under, and other applicable requirements of, the Antitrust Laws,
none of the  execution,  delivery or  performance  by any Selling  Party of this
Agreement or any Ancillary  Agreements to which it is a party,  the consummation
by any Selling Party of the  Transactions or the compliance by any

                                       37
<PAGE>

Selling Party with any of the provisions  hereof or of any Ancillary  Agreements
to which it is a party  will (i)  conflict  with or result in any  breach of any
provision of the Operating Documents or Organizational  Document of such Selling
Party; (ii) require any filing with or notification  prior to Closing to, or the
obtaining  of any Consent of, any Person;  (iii) result in a violation or breach
of,  or  constitute  (with or  without  due  notice  or lapse of time or both) a
default under, any of the terms of any Contract to which such Selling Party is a
party or by which such Selling Party or any of its properties  may be bound;  or
(iv) violate any Law,  order or judgment  applicable to such Selling Party or to
any of its properties, excluding from the foregoing clauses (ii), (iii) and (iv)
such violations, breaches or defaults that (A) would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect or (B) would
become  applicable as a result of any acts or omissions by Silgan other than its
consummation of the Transactions.

Section 4.5   Capitalization and Title to the Purchased Equity.
              ------------------------------------------------

(a) Schedule  4.5(a) sets forth the authorized  Capital Stock and the issued and
outstanding Capital Stock for each Acquired Company, together with the of record
owner of such issued and outstanding  Capital Stock,  and as regards such issued
and  outstanding  Capital  Stock in respect  of which a Selling  Party is the of
record owner,  the beneficial  owner of such Capital Stock. All of the Purchased
Equity  has been  duly  authorized  and  validly  issued  and is fully  paid and
non-assessable.  Except as set forth on Schedule  4.5(a),  there are no existing
options, warrants, calls, pre-emptive rights, rights of first refusal, limits on
transfer or subscriptions relating to the issued or unissued Capital Stock of an
Acquired Company obligating such Acquired Company to issue, transfer or sell any
of its Capital Stock.

(b) Each of the Selling  Parties that is a beneficial  owner of Capital Stock of
an Acquired Company,  as set forth on Schedule 4.5(a),  has good and valid title
to such Capital Stock free and clear of all  Encumbrances,  except for Permitted
Encumbrances.

Section 4.6   Good Title Conveyed in the Purchased Equity.
              -------------------------------------------

The delivery of the stock certificates, stock powers, endorsements,  assignments
or such other instruments to be executed and/or delivered by the Selling Parties
to the  Purchasers  with respect to the transfer of the  Purchased  Equity will,
subject to  publication  or deposit of notarial  instruments  as required  under
applicable Law, vest in the Purchasers good title to the Purchased Equity,  free
and clear of all  Encumbrances,  except  restrictions on transfer imposed by any
applicable securities Laws and Permitted Encumbrances.

Section 4.7   Subsidiaries.
              ------------

Except as set forth on Schedule 4.7, the Acquired Companies do not own, directly
or indirectly, any Capital Stock in any Person.

Section 4.8   Financial Statements and Indebtedness.
              -------------------------------------

(a) Copies of the Financial Statements are set forth in Schedule 4.8(a).  Except
as set forth on Schedule  4.8(a),  the Financial  Statements  have been prepared
from the books and  records of the  Subject  Companies,  have been  prepared  in
accordance  with IFRS (with the exception of the  Individual  Statements,  which
have been prepared in accordance with the applicable  local

                                       38
<PAGE>

generally  accepted  accounting  principles  consistently  applied) applied on a
consistent  basis  (except as may be stated in the notes  thereto) and the Amcor
Financial  Procedures  and  Controls  (with  the  exception  of  the  Individual
Statements  which  have been  prepared  in  accordance  with  Amcor's  financial
controls),  and  fairly  present  in  all  material  respects  the  consolidated
financial position and the consolidated  results of operations and cash flows of
the Subject Companies, as of the times and for the periods referred to therein.

(b) Set forth on Schedule 4.8(b) is a description of the Indebtedness owed by or
to the Acquired Companies, to the extent Indebtedness thereof is included in the
Closing  Indebtedness,  and the amounts  owed by or to such  Acquired  Companies
under such Indebtedness as of December 31, 2005.

(c) Set forth on Schedule 4.8(c) is a complete and correct list of the types and
amounts of the accruals for the Business  included in the  Financial  Statements
described in clauses (i) and (iv) of the definition of Financial  Statements for
June 30,  2005 and  December  31,  2005,  determined  in the same  manner as the
accruals for the Financial Statements for June 30, 2005.

Section 4.9   No Undisclosed Liabilities.
              --------------------------

(a) Except (i) as and only to the extent set forth on Schedule  4.9(a),  (ii) as
and only to the  extent  set  forth on the  Financial  Statements  and (iii) for
liabilities  and  obligations  incurred in the ordinary course of business since
June 30,  2005  consistent  with  past  practice,  no  Subject  Company  has any
liabilities or obligations,  whether absolute, accrued, contingent or otherwise,
that would,  individually  or in the  aggregate,  be  material  to such  Subject
Company,  the Purchased  Assets or the Business,  taken as a whole, and would be
required to be recorded on a balance sheet prepared in accordance with IFRS.

(b) Except as set forth on  Schedule  4.9(b),  the  Subject  Companies  (A) have
designed and maintain  disclosure  controls and  procedures (as defined in Rules
13a-15(e)  and  15d-15(e)  under  the  Exchange  Act) to  ensure  that  material
information  required to be disclosed by Amcor  Australia in the reports that it
files or submits under the Exchange Act is recorded,  processed,  summarized and
reported within the time periods  specified in the U.S.  Securities and Exchange
Commission's  rules and forms and is accumulated and communicated to the Subject
Companies'  management  as  appropriate  to  allow  timely  decisions  regarding
required disclosure, and (B) have disclosed, based on the most recent evaluation
of Amcor  Australia's  internal control over financial  reporting (as defined in
Rules  13a-15(f) and 15d-15(f) under the Exchange Act) prior to the date hereof,
to the Subject  Companies'  auditors any fraud,  whether or not  material,  that
involves  management  or  other  employees  who have a  significant  role in the
internal controls over financial reporting of the Subject Companies.

(c) Except as set forth on Schedule 4.9(c), in connection with Amcor Australia's
Sarbanes-Oxley  Act of 2002 Section 302 certification  review for the year ended
June 30, 2005 (i) there were no significant  deficiencies or material weaknesses
that  remained  unresolved  as of June 30,  2005 in the design or  operation  of
internal  controls  over  financial  reporting  relating  to any of the  Subject
Companies  and (ii) there has not been any fraud  identified  or  allegation  of
fraud, whether or not material,  that involves management or other employees who
have a  significant  role  in the  Subject  Companies'  internal  controls  over
financial reporting since July 1, 2002.

                                       39
<PAGE>

Section 4.10  Absence of Certain Changes.
              --------------------------

Except as disclosed on Schedule  4.10 and except for the  execution and delivery
of this Agreement,  since July 1, 2005, (1) there has not been any change in the
business,  assets,  financial  position,  operations or results of operations or
prospects of the Business, the Purchased Assets and the Acquired Companies taken
as a whole,  other than any such changes that occurred in the ordinary course of
business or that would not  reasonably  be  expected to have a Material  Adverse
Effect,  (2) the  Subject  Companies  have been  spending on capital and capital
maintenance as set forth on Schedule 4.10(2) and (3) the Subject  Companies have
conducted  the  Business  only  in the  ordinary  course  consistent  with  past
practice.  In  addition,  except as disclosed  on Schedule  4.10,  there has not
occurred  since July 1, 2005 with  respect  to any  Subject  Company  (except as
regards  subparagraphs  (a) and (b) below,  which  relate  only to the  Acquired
Companies) or the Business:

(a) any change in its authorized or issued Capital Stock;

(b) any amendment to its Operating Document or Organizational Document;

(c) any  increase  in the  salary,  wages,  bonus or other  compensation  of any
director,  officer,  or employee,  other than in the ordinary course of business
consistent with past practice;

(d) any labour strike;

(e) any adoption of or amendment to any Benefit Plan  maintained or  contributed
to by it, except as required by applicable Laws;

(f)  any  subjecting  of  any of  its  properties,  business  or  assets  to any
Encumbrance, other than a Permitted Encumbrance or by operation of Law;

(g) any casualty loss (whether or not covered by insurance) affecting any of its
properties in excess of (euro)100,000;

(h) any change in any accounting policy,  including with respect to the payments
of accounts payable and collections of accounts  receivable,  unless required by
IFRS;

(i) any acquisition,  disposition,  sale, transfer or lease of any asset used in
connection  with  the  Business  (i)  out of the  ordinary  course  of  business
consistent  with past practice or (ii) having a value in excess of  (euro)25,000
on an individual basis or  (euro)200,000  in the aggregate,  except for obsolete
equipment and Inventory sold and capping equipment leased,  each in the ordinary
course of business;

(j) any disposition, sale or transfer of any company or business, other than the
sale of the Business as contemplated by this Agreement;

(k) any  acquisition  of any other Person  (other than an Affiliate of a Subject
Company) or any other business, including by merger or consolidation;

                                       40
<PAGE>

(l) any  commitment for capital  expenditures  not already paid for in excess of
(euro)100,000 on an individual basis, except to the extent disclosed on Schedule
4.10(2);

(m) any cancellation,  waiver,  release or other compromise of any material debt
or claim,  or any right of significant  value,  except in the ordinary course of
business consistent with past practice;

(n) any decrease in the amount of any reserves for doubtful  Receivables  or any
write down or write up of the value of any  Inventory or other asset,  except in
the ordinary course of business consistent with past practice;

(o)  any  commencement  of any  litigation,  action  or  proceeding  before  any
Governmental  Entity  relating to it or its property used in connection with the
Business where the amount claimed exceeds (euro)100,000;

(p) any change in any election concerning Taxes or Tax Returns, change in annual
accounting period,  adoption or change in any accounting  method,  filing of any
amended  return,  entering  into any closing  agreement  with  respect to Taxes,
settlement  of any Tax claim or  assessment,  surrender  of any right to claim a
refund of Taxes or  obtainment  of or entrance  into any Tax ruling,  agreement,
contract, understanding, arrangement or plan;

(q) any net loss of business or erosion of profit margin from any Major Customer
affecting any Subject  Company in an amount that is material to the revenues and
profits  attributable  to such Major  Customer  (it being  understood  that this
Section  4.10(q)  only applies for the period from July 1, 2005 through the date
of this Agreement for purposes of Section 7.2(a)); or

(r) any entering into of a Contract to do or engage in any of the foregoing.

Section 4.11  Ownership and Condition of Assets; Sufficiency of Assets and
              ------------------------------------------------------------
              Purchased Equity.
              ----------------

(a) Real Property.
    -------------

     (i) Set forth on Schedule  4.11(a) is a true,  correct and complete list of
all the Owned Real Property owned by the Subject Companies.  Except as set forth
on Schedule  4.11(a),  each of the Subject  Companies  has good and fee or other
comparable  title to its  respective  Owned Real Property  described on Schedule
4.11(a), free and clear of all Encumbrances,  except for Permitted Encumbrances.
Except as set forth on Schedule  4.11(a),  (1) there are no leases,  licenses or
other  agreements  respecting  use  and/or  occupancy  affecting  any Owned Real
Property (or any portion thereof), (2) no third party has any option or right to
acquire or lease any Owned Real Property (or any portion thereof), (3) there are
no Persons  (other than the  applicable  Subject  Company owning such Owned Real
Property) in possession of any Owned Real Property (or any portion thereof),  or
that have any right to use or occupy any Owned  Real  Property  (or any  portion
thereof),  and (4) no  Subject  Company  has  assigned,  transferred,  conveyed,
mortgaged,  deeded  in trust,  or  encumbered  any  interest  in any Owned  Real
Property (or any portion thereof).

     (ii) Set forth on Schedule 4.11(a) is a true,  correct and complete list of
(x) all of the Leased  Real  Property  that is leased,  subleased  or  otherwise
demised by the Subject Companies

                                       41
<PAGE>

and (y) all of the  Real  Property  Leases.  Except  as set  forth  on  Schedule
4.11(a), the Real Property Leases collectively  constitute the entire agreements
with  respect  to the  leasing  by the  Subject  Companies  of the  Leased  Real
Property;  and (1)  each  Real  Property  Lease is a legal,  valid  and  binding
Contract  of the Subject  Company  that is a party  thereto  and, to the Selling
Parties'  Knowledge,  of the other  parties  thereto,  in full force and effect,
enforceable in accordance  with its terms,  and has not been amended or modified
(beyond  the  amendments  or  modifications  set forth in  Schedule  4.11(a)  as
constituting  a  part  of  such  Real  Property  Lease),   and,   following  the
consummation  of the  transactions  contemplated  hereby,  shall  continue to be
legal,  valid,  binding,  enforceable  and in full force and effect on identical
terms, (2) none of the Subject Companies nor, to the Selling Parties' Knowledge,
any other party to any of the Real  Property  Leases,  is in material  breach or
otherwise in material default thereunder,  (3) true, correct and complete copies
of each of the Real  Property  Leases  (including  all  schedules,  exhibits and
amendments  thereto) have been made available by the Selling  Parties to Silgan,
(4) the  leasehold  estate in all the Leased Real  Property is free and clear of
any Encumbrance,  except for Permitted  Encumbrances,  (5) such leasehold estate
has not been  assigned  or  otherwise  transferred,  nor has any  portion of the
Leased Real  Property  been  sublet,  nor has any third  party been  granted any
option or right to acquire  such  leasehold  estate or sublet any portion of the
Leased  Real  Property,  (6) there are no  Persons  (other  than the  applicable
Subject  Company  leasing such Leased Real Property) in possession of the Leased
Real  Property (or any portion  thereof) or that have any right to use or occupy
the Leased Real Property (or any portion thereof),  and (7) all rent, additional
rent and other charges due and payable (as of the date hereof) under each of the
Real Property Leases has been paid in full without offset, claim or reduction.

     (iii) None of the Subject Companies own or lease any real property,  except
for the real property at which the Real Property is located.

     (iv) The operation of the Business does not require the ownership or use of
any real property other than the Real Property.

     (v) The uses currently being made of the Real Property are in compliance in
all material respects with all zoning and other Laws applicable thereto.

     (vi) No portion of the Real Property is subject to any pending,  or, to the
Selling Parties' Knowledge, threatened, condemnation action.

(b) Personal Property Leases. (i) Each Personal Property Lease is a legal, valid
and binding  Contract of the Subject Company that is a party thereto and, to the
Selling  Parties'  Knowledge,  of the  other  parties  thereto,  enforceable  in
accordance  with its terms,  (ii) each Personal  Property Lease is in full force
and effect and (iii) no Subject Company,  nor to the Selling Parties' Knowledge,
any other party thereto,  is in material breach of or material default under any
Personal Property Lease beyond any applicable cure period.  Correct and complete
copies of the Personal  Property Leases  (including all schedules,  exhibits and
amendments  thereto) with annual  payments in excess of  (euro)25,000  have been
made available by the Selling Parties to Silgan.

(c) Tangible  Personal  Property.  Except for Tangible Personal Property sold or
otherwise disposed of since the date of the Financial Statements or as set forth
on  Schedule  4.11(c),  each  Subject  Company  has good  title to the  Tangible
Personal  Properties  reflected on the Financial

                                       42
<PAGE>

Statements  and,  on the  Closing  Date,  will have good  title to the  Tangible
Personal Property included in the Purchased Assets or the assets of the Acquired
Companies,  in each  case,  free  and  clear  of all  Encumbrances,  other  than
Permitted  Encumbrances  and any lease of Tangible  Personal  Property whereby a
Subject Company is the lessee.

(d)  Condition  and Use of Tangible  Personal  Property.  Except as set forth on
Schedule 4.11(d),  all of the material Tangible  Personal  Property,  other than
Inventory,  currently  used  by the  Subject  Companies  in the  conduct  of the
Business is in good working order, normal wear and tear excepted.

(e)  Sufficiency.  The assumption of the Assumed  Liabilities  hereunder and the
purchase of all of the Purchased  Assets and the Purchased  Equity hereunder are
sufficient  (assuming  sufficient  employment  levels) to permit  Silgan and its
Affiliates to conduct the operations of the Business in  substantially  the same
manner as it is presently  conducted and has been conducted  since July 1, 2005.
Except as set forth on  Schedule  4.11(c)  or where the  Subject  Company is the
lessor of Tangible Personal Property, the Purchased Assets and the assets of the
Acquired  Companies are in the exclusive  possession  and control of the Subject
Companies  and no  Person  other  than the  Subject  Companies  is  entitled  to
possession of any portion of the Purchased  Assets or the assets of the Acquired
Companies.  The  instruments  of  conveyance  and transfer to be executed by the
Selling  Parties and  delivered  to the  Purchasers  at the Closing  (subject to
Section  3.4) will be valid in  accordance  with their  terms and  effective  to
assign,  transfer  and  convey  to  the  Purchasers  at the  Closing  all of the
Purchased Assets and Purchased Equity.

(f) No Manufacturing  Operations.  Except as set forth on Schedule 4.11(f), none
of Amcor  Austria,  Amcor  Belgium,  Amcor France  S.A.S.,  Amcor Espana,  Amcor
Sweden, Amcor Ukraine and Amcor UK currently engages or, since July 1, 2002, and
to the Selling  Parties'  Knowledge,  prior to July 1, 2002, has ever engaged in
any  manufacturing  operations  of any kind.  None of Amcor  Deutschland,  Amcor
Polska,  Amcor Investments,  Amcor Properties,  Amcor Asia Pacific,  Amcor South
East Asia, Amcor Shanghai and Amcor Venezuela  currently  engages or, since July
1, 2002, and to the Selling Parties' Knowledge,  prior to July 1, 2002, has ever
engaged in any  manufacturing  operations of any kind except in connection  with
the Business.

Section 4.12  Contracts and Commitments.
              -------------------------

(a) Schedule  4.12(a) hereto sets forth, as of the date hereof,  a list of every
Assumed  Contract and of every  Contract that is currently in force to which any
Acquired Company is a party or by which any of its properties is bound, that, in
each case:

     (i) provides for aggregate  future payments by a Subject  Company,  or to a
Subject Company, of more than (euro)200,000;

     (ii) is a Contract  not  entered  into in the  ordinary  course of business
consistent with past practice which provides for aggregate  future payments by a
Subject Company, or to a Subject Company, of more that (euro)50,000;

     (iii) is a collective  bargaining  Contract or other Contract with a labour
union (including all side letters and side agreements);

                                       43
<PAGE>

     (iv) restricts a Subject  Company from engaging in any business in any part
of the world;

     (v) is an employment  Contract where the base  compensation is in excess of
(euro)75,000  per year, or retention or change in control  Contract that applies
to  any  transaction  other  than  this  Transaction,  or  material  independent
contractor  Contract with any director,  officer or other Employee of any of the
Acquired Companies;

     (vi) is with respect to the creation,  operation,  governance or management
of a partnership,  joint venture, limited liability company or similar agreement
or is a stockholders' agreement, registration rights agreement, voting agreement
or proxy relating to the voting of any Capital Stock;

     (vii) is a mortgage, indenture, security agreement relating to indebtedness
for borrowed money, letter of credit,  promissory note, loan agreement and other
material agreement,  guarantee and instrument relating to the borrowing of money
or extension of credit;

     (viii) (A) is a stock purchase agreement whereby an Acquired Company bought
or sold an  equity  interest  or (B) is an  asset  purchase  agreement  or other
acquisition or divestiture  agreement whereby an Acquired Company bought or sold
a business or all or  substantially  all of the assets of a business for a price
in excess of  (euro)500,000,  in each case within the last three (3) years prior
to the date hereof; or

     (ix) is a written amendment in respect of any of the foregoing

(the Contracts  listed on Schedule  4.12(a) (in the case of Contracts called for
by Section  4.12(a)(i),  only those  meeting the  threshold set forth in Section
4.12(a)(i)) are collectively referred to as the "Subject Company Contracts").

(b) Except as set forth on Schedule  4.12(b),  as of the date  hereof,  (i) each
Subject Company  Contract is a legal,  valid and binding Contract of the Subject
Company that is a party thereto and, to the Selling Parties'  Knowledge,  of the
other  parties  thereto,  enforceable  in accordance  with its terms,  (ii) each
Subject  Company  Contract  is in full  force and  effect  and (iii) no  Subject
Company,  nor to the Selling Parties'  Knowledge,  any other Party thereto is in
material breach or material  default under any Subject  Company  Contract or has
repudiated any term thereof.  Correct and complete copies of the Subject Company
Contracts  (including all schedules,  exhibits and amendments thereto) have been
made available by the Selling Parties to Silgan.

(c) Except as set forth on Schedule 4.4, all the Subject Company  Contracts that
are  Assumed  Contracts  are  assignable  to the  applicable  Purchaser  without
requiring any Consent of any Person and without resulting in any modification of
the rights or obligations thereunder.

(d) Except as set forth on Schedule  4.12(d),  none of the Subject Companies has
received any written notice of termination,  cancellation or non-renewal that is
currently in effect with respect to any Subject Company Contract.

(e) Except as set forth on Schedule  4.12(e),  none of the Subject  Companies is
under any liability or obligation with respect to the return of Inventory in the
possession  of customers or other

                                       44
<PAGE>

Persons with an aggregate  value in excess of  (euro)25,000 on a per customer or
other Person basis or (euro)100,000 in the aggregate.

(f) Any Contract  that is included in the Subject  Company  Contracts  whereby a
Subject  Company  is not  named as a party  to such  Contract  has been  validly
assigned  to such  Subject  Company  (other  than  assignments  from one Subject
Company to another Subject Company).

Section 4.13  Insurance.
              ---------

(a) Schedule 4.13 sets forth for the Subject  Companies  relating to the conduct
of the Business:  (i) the policies of insurance  presently in force and, without
restricting  the  generality  of  the  foregoing,  those  covering  the  Subject
Companies'  public  and  product  liability  and  their  respective   personnel,
properties, buildings, machinery, equipment, furniture, fixtures and operations,
specifying  with  respect to each such policy the name of the  insurer,  type of
coverage,  term of policy and limits of liability;  (ii) the Subject  Companies'
losses in excess of (euro)250,000, by year and by type of coverage, for the past
two (2)  years  based  on  information  received  from  the  Subject  Companies'
insurance  carrier(s);  (iii)  all  outstanding  insurance  claims  in excess of
(euro)250,000  by the  Subject  Companies  for damage to or loss of  property or
income  which  have been  referred  to  insurers  or which any  Subject  Company
believes to be covered by  commercial  insurance;  and (iv)  commercial  general
liability  policies carried by the Subject Companies for the past two (2) years,
including excess liability policies. The Data Room contains complete and correct
copies of  certificates  of insurance  with respect to the policies of insurance
and the agreements of the Acquired Companies set forth in Schedule 4.13.

(b) The insurance  policies of the Acquired Companies set forth in Schedule 4.13
are in full force and effect,  all premiums  with respect  thereto  covering all
periods up to and  including  the Closing Date have been paid,  and no notice of
cancellation  or termination  has been received with respect to any such policy.
Such  policies  will remain in full force and effect  through  the Closing  Date
without the payment of  additional  premiums  and during such period will not in
any way be materially  adversely  affected by the  transactions  contemplated by
this Agreement.  None of the Subject Companies (in connection with the Business)
has been  refused  any  insurance  with  respect  to the  respective  assets  or
operations of such Subject  Company  within the last two (2) years,  nor has any
such  coverage  been  limited  within the last two (2) years,  by any  insurance
carrier to which any Subject  Company has applied for any such insurance or with
which any of the Subject Companies has carried insurance during the last two (2)
years.

Section 4.14  Litigation.
              ----------

Except as set forth in Schedule 4.14,  there is no action or proceeding  pending
or, to the Selling Parties'  Knowledge,  threatened,  (i) against or involving a
Subject Company (and, in the case of the Asset Sellers,  concerning the Business
or the Purchased Assets) that if determined adversely to a Subject Company would
reasonably be expected to result in (a) an injunction or other equitable  relief
or  (b) a Loss  by a  Subject  Company  exceeding  (euro)100,000  or  (ii)  that
questions the validity of this Agreement, any of the Ancillary Agreements or the
Transactions.

Section 4.15  Environmental Matters.
              ---------------------

(a) Except as set forth in Schedule 4.15,

                                       45
<PAGE>

     (i) the Subject  Companies  possess  all  Environmental  Permits  currently
required under applicable  Environmental  Laws to operate the Business except as
would not reasonably be expected to cause a Material Adverse Effect,  and within
applicable  statutes of  limitation,  have been in  compliance  in all  material
respects with the terms and conditions of such Environmental  Permits,  and none
of the Subject  Companies have received  written  notice that any  Environmental
Permits  possessed by any of them with respect to the Business  will be revoked,
suspended or will not be renewed;

     (ii) to the Selling Parties' Knowledge,  the execution and delivery of this
Agreement and the consummation of the transactions  contemplated hereby will not
require any notification,  registration,  reporting, filing,  investigation,  or
remediation under any Environmental Law;

     (iii) each of the Subject  Companies  is  currently  in  compliance  in all
material  respects,  and within applicable  statutes of limitation,  has been in
compliance in all material respects, with all applicable Environmental Laws with
respect  to the  Business  (it  being  understood  that for  Environmental  Laws
previously  in effect,  each of the Subject  Companies  was in compliance in all
material  respects  only during the time period  such  Environmental  Law was in
effect);

     (iv) (A) none of the Subject  Companies has received  written notice of any
civil,  criminal  or  administrative  action,   hearing,  notice  of  violation,
directive,  summons,  warning,  order,  notice or demand letter,  or request for
information pending or, to the Selling Parties' Knowledge,  threatened under any
Environmental  Law  against any of the  Subject  Companies;  and (B) none of the
Subject  Companies has received written notice of actual or potential  liability
under  any  Environmental  Law that has not been  resolved,  including,  but not
limited  to, any  liability  that the  Subject  Companies  may have  retained or
assumed either  contractually  or by operation of Law, in either case (A) or (B)
that  would be  reasonably  likely  to  result,  either  individually  or in the
aggregate, in material costs to the Subject Companies;

     (v) (A) there has been no Release  of any  Hazardous  Substance  generated,
used,  owned,  stored or controlled by the Subject Companies or their respective
predecessors  in interest,  on, at, or under any property  presently or formerly
owned,  leased or operated by the Subject Companies or their predecessor  except
in compliance in all material respects with  Environmental  Laws; and (B) to the
Selling Parties' Knowledge there are no Hazardous Substances located in, at, on,
or under  such  facility  or  property,  or at any  other  location  that  could
reasonably be expected to require investigation, removal, remedial or corrective
action by the Subject  Companies or that would reasonably be likely to result in
material liabilities of, or losses, damages or costs (including, response costs,
corrective  action costs,  damages for personal  injury or property  damage,  or
natural   resource   damages)  to  any  of  the  Subject   Companies  under  any
Environmental Law;

     (vi)  to the  Selling  Parties'  Knowledge,  (A)  there  has not  been  any
underground or aboveground  storage tank or other underground storage receptacle
or  related  piping,  or any  impoundment  or other  disposal  area in each case
containing  Hazardous  Substances  located  on any  facility  owned,  leased  or
operated  by  the  Subject   Companies   except  in  material   compliance  with
Environmental  Laws, and (B) no asbestos or polychlorinated  biphenyls have been
used or disposed of, or have been located at, on, or under such facility  except
in compliance with applicable Environmental Laws; and

                                       46
<PAGE>

     (vii) to the Selling Parties' Knowledge,  there are no Encumbrances,  other
than  Permitted  Encumbrances,  registered  against  any  properties,  assets or
facilities based upon any applicable  Environmental Law or for costs incurred in
response to any Release of Hazardous Substances.

(b) The  Selling  Parties  have  made  available  to Silgan  and its  authorized
representatives   all  material   environmental   records  and  files  in  their
possession, including all assessments, reports, studies, analyses, audits, tests
and data  available to the Selling  Parties  concerning the Release of Hazardous
Substances  or  any  other  environmental  concern  at  properties,  assets  and
facilities  currently  or  formerly  owned,  operated  or leased by the  Subject
Companies  or any  predecessor  in interest,  or  concerning  compliance  by the
Subject Companies with, or liability under, any Environmental Laws.

(c) Correct and  complete  copies of the  Environmental  Permits  have been made
available by the Selling Parties to Silgan.

Section 4.16  Compliance with Laws and Orders.
              -------------------------------

Except where the failure to do so would not  reasonably be expected to result in
a Material  Adverse  Effect,  the Subject  Companies are in compliance  with all
applicable Laws (except  Environmental Laws which are addressed in Section 4.15)
and no action or  proceeding is pending or, to the Selling  Parties'  Knowledge,
threatened,  against any of the  Subject  Companies  alleging  any failure to so
comply.

Section 4.17  Employee Benefit Plans.
              ----------------------

(a) Subject to compliance with applicable Laws,  Schedule 4.17(a) contains as at
a date a date  not  more  than ten (10)  days  prior  to the  date  hereof,  the
following  information  for each Employee:  date of birth,  work location,  hire
date, job title,  salary level or monthly or hourly rate of pay and whether such
Employee is out on short or long-term disability or workers' compensation.

(b)  Schedule  4.17(b)  contains a complete  list of each  Benefit  Plan that is
sponsored,  maintained or contributed to by a Subject Company for the benefit of
any director,  officer,  Employee or Retired Employee of any Subject Company (in
the case of the Asset  Sellers,  to the  extent  related to the  Business)  (the
"Seller Benefit Plans"). Correct and complete copies of the Seller Benefit Plans
(including  all  schedules,  exhibits  and  amendments  thereto)  have been made
available by the Selling Parties to Silgan.  No provision or contributions  have
been made towards any Benefit Plan other than the Seller Benefit  Plans,  nor is
there any obligation,  liability or commitment by any Subject Company to provide
or  contribute  towards any  Benefit  Plan other than a Seller  Benefit  Plan in
respect of any present or past  director,  officer or  Employee of such  Subject
Company (or any spouse, child or dependant of any of them).

(c) Except as set forth on Schedule 4.17(c), the Selling Parties have heretofore
made available to Silgan,  to the extent applicable to each Seller Benefit Plan,
a copy of (i) each Seller  Benefit Plan and any  amendments  thereto,  (ii) each
Contract creating or modifying in any respect any related trust or other funding
vehicle,  (iii) the most recent financial and actuarial reports and summaries of
each  Seller  Benefit  Plan  required  under  applicable  Law,  (iv) all current
employee   communications   describing   each  Seller   Benefit   Plan  and  any
modifications  thereto  and (v) if

                                       47
<PAGE>

applicable,  proof  of  registration  of  each  Seller  Benefit  Plan  with  the
applicable Governmental Entities. There are no material benefits or entitlements
payable  under the Seller  Benefit  Plans in respect of any  director,  officer,
Employee or Retired Employee of any Subject Company or their respective  spouses
or dependants other than as set forth in the Seller Benefit Plans.

(d) Each Seller  Benefit  Plan has been  established,  maintained,  operated and
administered  in  compliance  in  all  material  respects  with  its  terms  and
applicable  Laws and has been funded in compliance with its terms and applicable
Laws.  Each  Seller  Benefit  Plan  intended  to  be  exempt  from  Tax  by  any
Governmental Entity has been established and administered in a manner consistent
with that purpose, and to the Selling Parties' Knowledge,  there are no facts or
circumstances  that would  adversely  affect the tax exempt status of any Seller
Benefit Plan. All required  contributions  due or payable to each Seller Benefit
Plan have been made and each Seller Benefit Plan is in material  compliance with
any funding  requirements  imposed by applicable  Law. The Financial  Statements
fairly present in all material respects all liabilities of the Subject Companies
as required by IFRS under the Seller  Benefit Plans as of and at the  applicable
dates of such Financial Statements.

(e) All  Seller  Benefit  Plans  have been duly  registered  where  required  by
applicable Law. All reports with respect to the Seller Benefit Plans required to
be filed with any Governmental Entity have been duly filed. There are no pending
or, to the Selling  Parties'  Knowledge,  threatened  investigations,  audits or
other proceedings or inquiries by any Governmental  Entity concerning any Seller
Benefit Plan.

(f) No Seller  Benefit Plan provides  health,  medical,  life insurance or other
material  benefits for Employees or Retired Employees of any Subject Company for
periods  extending  beyond their  retirement  or other  termination  of service,
except for coverage  mandated by applicable Law and except for which the Subject
Company's liability was appropriately  reflected on the Financial  Statements as
of and at the applicable dates thereof.

(g)  Except  as  set  forth  on  Schedule  4.17(g),   the  consummation  of  the
transactions contemplated by this Agreement will not (i) entitle any Employee or
Retired  Employee to severance pay,  redundancy  payments,  indemnity  payments,
change of control  payments,  unemployment  compensation or any other payment or
benefit not expressly  disclosed  herein or, (ii) accelerate the time of payment
or  vesting,  or increase  the amount of  compensation,  due to any  Employee or
Retired Employee under any Seller Benefit Plan.

(h) Schedule  4.17(h)  contains a complete  list of (i) each Employee or Retired
Employee  who may be entitled to benefits  under a Seller  Benefit Plan and (ii)
the  applicable   Seller   Benefit  Plan  each  Employee  or  Retired   Employee
participates in.

(i) The consummation of the transactions contemplated by this Agreement will not
cause  any  automatic,  immediate  or  contingent  material  amendments  to  the
governing  provisions of any Seller Benefit Plans, whether as to the identity of
the persons  entitled to exercise any powers or  discretion,  employer or member
contribution  rates,  increases  to pensions in payment  and/or  deferment,  the
benefit structure or otherwise.

                                       48
<PAGE>

(j) Except as set forth on Schedule 4.17(j), no event has occurred or will occur
as a result of the  Transactions  which would or would reasonably be expected to
entitle any Person (without the consent of Subject Companies or their successors
in business) to wind up, terminate or close any Seller Benefit Plans in whole or
in part.

Section 4.18  Tax Matters.
              -----------

(a) Each  Acquired  Company and each Asset Seller  (insofar as it relates to the
Business)  has  timely  filed (or has had  timely  filed on its  behalf) or will
timely file or cause to be timely  filed,  all material Tax Returns  required by
applicable  Law to be filed by it prior to or as of the Closing  Date.  All such
Tax Returns are or will be complete and correct in all material respects.

(b) Each  Acquired  Company and each Asset Seller  (insofar as it relates to the
Business)  has timely paid (or has had timely paid on its behalf) or will timely
pay (or will have  timely paid on its behalf)  all  material  Taxes  falling due
prior to the Closing Date (whether or not on a Tax Return).

(c) There are no Encumbrances  for Taxes upon any property of a Subject Company,
except  for  Permitted  Encumbrances  and  liens for  local  property  Taxes and
assessments  in the  ordinary  course  of  business  assessed  by state or local
jurisdictions not delinquent beyond any cure period.

(d)  Except  as  set  forth  on   Schedule   4.18,   no  audits,   examinations,
investigations  or other  administrative  proceedings or court  proceedings  are
pending  with  regard to any Tax  Returns  filed by or on behalf of an  Acquired
Company,  or Asset  Seller  (insofar as it relates to the  Business)  except for
those the adverse resolution of which would not reasonably be expected to have a
Material Adverse Effect.

(e) Except as set forth on Schedule 4.18,  there are no outstanding  consents to
extend the statutory  period of limitations  applicable to the assessment of any
Taxes or deficiencies against any Acquired Company.

(f) Except as set forth on Schedule 4.18(f),  to the Selling Parties' Knowledge,
the  transactions  contemplated  by this  Agreement  are not  subject to any Tax
withholding.

(g) No claim has ever been made by a Government  Entity in a jurisdiction  where
the Acquired  Companies or Asset Sellers (insofar as it relates to the Business)
do not file Tax  Returns  that any of them may be  subject to  taxation  in that
jurisdiction.

(h) Each of the Acquired  Companies and the Asset Sellers (insofar as it relates
to the Business)  have timely  withheld and paid all Taxes required to have been
withheld and paid in connection  with any amounts paid or owing to any employee,
independent contractor, creditor, stockholder, or third party.

(i) None of the Assumed  Liabilities  is an obligation to make a payment that is
not deductible under section 280G of the US Internal Revenue Code.

(j)  None of the  Acquired  Companies  is a  party  to,  or  bound  by,  any Tax
allocation or sharing agreement.

                                       49
<PAGE>

(k) Except as set forth on Schedule  4.18(k),  there is no taxable income of any
of the  Acquired  Companies  or any Asset  Seller  (insofar as it relates to the
Business)  that will be  reportable  in a  taxable  period  beginning  after the
Closing Date as a result of an installment sale or a transaction that is treated
as an "open" transaction for U.S. federal income tax purposes.

Section 4.19  Company Intellectual Property.
              -----------------------------

(a)  Schedule   4.19(a)   identifies  (i)  each  patent   registration,   patent
application,  trademark registration and application, copyright registration and
application and domain name (the  "Registered  Intellectual  Property") and each
material  unregistered  trademark or trade name that is used or intended for use
by the Subject  Companies (and in the case of the Asset  Sellers,  in connection
with the  Business)  and sets  forth  the  jurisdiction  where  such  Registered
Intellectual  Property  is  registered  and (ii)  all the  Licenses  other  than
Licenses concerning non-proprietary software.

(b) Except as set forth on Schedule 4.19(b),

     (i)  subject to any  Excluded  Assets,  the Company  Intellectual  Property
includes  all of the  intellectual  property  rights  necessary  to conduct  the
Business as presently conducted other than the name "Amcor";

     (ii) the Registered  Intellectual Property that is registered and listed on
Schedule 4.19(a) is valid, in full force and effect and, to the Selling Parties'
Knowledge,  has not been used or  enforced or failed to be used or enforced in a
manner that would result in the abandonment, cancellation or unenforceability of
any rights in and to such Intellectual Property,  except as regards Intellectual
Property  that is not  required  for the  operation of the Business as presently
conducted;

     (iii) except with respect to the  Licenses,  the Subject  Companies are the
exclusive  owners of all  right,  title and  interest  in and to the  Registered
Intellectual Property,  free and clear of any Encumbrance,  other than Permitted
Encumbrances;

     (iv) to the Selling Parties'  Knowledge,  (A) the operation of the Business
as it is presently  conducted  does not  infringe,  misappropriate  or otherwise
violate  any  Intellectual  Property  of any third  party to such extent that it
would reasonably be expected to have a Material Adverse Effect;  (B) the Subject
Companies  have not received,  within the past 12 months,  any written notice or
office action: (x) alleging any infringement or misappropriation of Intellectual
Property  with  respect  to  the  Business;   (y)   challenging   the  validity,
enforceability  or ownership  (except with respect to Licenses where the Subject
Company  is  the  Licensee)  by the  Subject  Companies  of  any of the  Company
Intellectual  Property;  or (z)  claiming  that the current  use,  distribution,
licensing,  sublicensing, sale, exercise or other commercial exploitation by the
Subject  Companies  of  the  Company  Intellectual  Property  infringes  on  any
Intellectual Property of any third party; and (C) there are no pending claims or
proceedings,  including  oppositions,  interferences,  concurrent  use, ex parte
appeals and re-examinations  relating to the Company Intellectual  Property that
would reasonably be expected to have a Material Adverse Effect;

                                       50
<PAGE>

     (v) to the  Selling  Parties'  Knowledge,  no  third  party is  engaged  in
unauthorized  use,  infringement  or  misappropriation  of any of the Registered
Intellectual Property listed on Schedule 4.19(a);

     (vi) as of the date hereof,  (A) each License is a legal, valid and binding
Contract  of the Subject  Company  that is a party  thereto  and, to the Selling
Parties'  Knowledge,  of the other  parties  thereto,  enforceable  against such
Subject  Company  and,  to the Selling  Parties'  Knowledge,  the other  parties
thereto  in  accordance  with its terms,  (B) each  License is in full force and
effect and (C) no Subject Company,  nor to the Selling Parties'  Knowledge,  any
other Party thereto is in material breach or material  default under any License
or has repudiated any term thereof;

     (vii) the Subject  Companies have not transferred  ownership of, or granted
any  exclusive  license  with  respect  to, any of the  Registered  Intellectual
Property to any third party;

     (viii) subject to any agreements or  restrictions  affecting the Purchasers
and subject to obtaining  required  Consents  from  licensors,  the  Purchasers,
following  the Closing  Date,  will be  permitted  to exercise  all of the Asset
Sellers' rights under the Company  Intellectual  Property to the same extent the
Asset Sellers would have been able to had the transactions  contemplated by this
Agreement  not  occurred and without the payment of any  additional  funds other
than ongoing fees, royalties or payments which the Purchasers would otherwise be
required to pay;

     (ix)  subject to any  agreements  or  restrictions  affecting  the Acquired
Companies  and  subject to  obtaining  required  Consents  from  licensors,  the
Acquired  Companies,  following the Closing Date,  will be permitted to exercise
all of the Acquired Companies' rights under the Company Intellectual Property to
the  same  extent  the  Acquired  Companies  would  have  been  able  to had the
transactions contemplated by this Agreement not occurred and without the payment
of any additional funds other than ongoing fees, royalties or payments which the
Acquired Companies would otherwise be required to pay;

     (x) with respect to each item of the Registered  Intellectual Property, but
except as  regards  such  Intellectual  Property  that is not  required  for the
operation  of  the  Business  as  presently   conducted,   (A)  necessary  title
recordation  documents,  including  assignments  and  changes  of  name  and (B)
necessary  registration,  maintenance  and renewal fees in connection  with such
Registered  Intellectual Property have been made in the jurisdictions where such
Registered  Intellectual Property is registered as set forth on Schedule 4.19(a)
and all necessary  documents and certificates in connection with such Registered
Intellectual  Property  have been filed with the relevant  patent,  trademark or
copyright authorities in such jurisdictions for the purposes of maintaining such
Registered  Intellectual  Property and (C) the Subject  Companies  will take all
steps necessary to preserve and maintain all right, title and interest in and to
the Company Intellectual Property through the Closing Date; and

     (xi) the Subject Companies have valid registrations and all material rights
(free of any material restriction) in and to their domain names that are part of
the Company Intellectual Property.

                                       51
<PAGE>

(c) Correct and complete copies of the Licenses entered into on or after July 1,
2002 that are set forth on Schedule 4.19(a)  (including all schedules,  exhibits
and  amendments  thereto)  have been made  available  by the Selling  Parties to
Silgan.  The Selling  Parties have made  available to Silgan all copies in their
possession of the Licenses  (including  all  schedules,  exhibits and amendments
thereto)  entered  into  before  July 1,  2002  that are set  forth on  Schedule
4.19(a).

Section 4.20  Labour Matters.
              --------------

Except as set forth on Schedule 4.20:

(a) there is not currently,  and for the past two (2) years, there has not been,
any labour  strike,  slowdown or other work  stoppage  with respect to a Subject
Company;

(b) no  Subject  Company  (in the case of the  Asset  Sellers,  relating  to the
Business) is a party to or bound by any  collective  bargaining  Contract or any
Contract with any trade union,  employee  representative or body of employees or
their representatives (including any side letters or side agreements);

(c) there is not any pending or to the Selling Parties'  Knowledge,  threatened,
any material unfair labour practices charges or complaints or material, sex, age
or other  discrimination  claims against any Subject  Company (in the case of an
Asset Seller, relating to the Business);

(d) the Subject  Companies  have  complied  in all  material  respects  with all
collective  bargaining  Contracts  and any orders or  judgments  resulting  from
alleged violations of any labor Laws;

(e) to the Selling Parties' Knowledge,  there is not currently, and for the past
three (3) years, there has not been any union organizing activity concerning any
of the Employees;

(f) since July 1, 2005, no Subject Company has planned,  proposed or effectuated
any plant  closing or mass layoff of  Employees  relating to the  Business  that
would implicate any Law requiring notice of plant closings or layoffs;

(g) any notice of this Transaction required by any Law, or collective bargaining
Contract by a Subject  Company has, or shall prior to Closing have,  been given,
and any bargaining and  consultation  obligations have been, or prior to Closing
will be, satisfied;

(h) each  Subject  Company  has  complied  with  all  Contracts  relating  to or
respecting Employees and Retired Employees, including, all regulations, policies
and  procedures  affecting  Employees and Retired  Employees,  except where such
non-compliance  would not  reasonably  be  expected  to have a Material  Adverse
Effect;

(i) no written  notice to terminate  the Contract of  employment of any Employee
whose  compensation is in excess of (euro)75,000  (whether given by the relevant
employer or by the Employee) is pending, outstanding or, to the Selling Parties'
Knowledge,  threatened and no dispute,  claim or complaint  under any applicable
Law is outstanding in relation to any current or former Employees,  directors or
officers  relating to their  employment or its termination that would reasonably
be expected to result in a Loss in excess of (euro)75,000;

                                       52
<PAGE>

(j) no  Subject  Company  (in the case of the  Asset  Sellers,  relating  to the
Business) is a party to, bound by or proposing to introduce in respect of any of
its  directors  or  Employees  any  redundancy  payment  scheme in  addition  to
statutory  redundancy  pay,  nor is there any agreed  procedure  for  redundancy
selection; and

(k) correct and complete  copies of any collective  bargaining  Contract and any
Contract with any trade union,  employee  representative or body of employees or
their representatives  (including any side letters, side agreements,  schedules,
exhibits and amendments  thereto) to which a Subject Company (in the case of the
Asset Sellers,  relating to the Business) is a party have been made available to
Silgan.

Section 4.21  Bank Accounts.
              -------------

Schedule  4.21 sets forth (i) the names,  locations  and account  numbers of all
banks,  trust  companies,  savings  and loan  associations  and other  financial
institutions  at which an Acquired  Company  maintains  lockboxes,  safe deposit
boxes,  marketable  securities,  savings  accounts,  checking  accounts or other
accounts  of any  nature  relating  to the  Business  and (ii) the  names of all
Persons  authorized to draw thereon,  make withdrawals  therefrom or have access
thereto.

Section 4.22  Brokers or Finders.
              ------------------

Except as set forth in Schedule  4.22, no Selling Party and no Subject  Company,
and no Person  acting on their behalf,  has entered into any Contract  entitling
any agent, broker,  investment banker,  financial advisor or other Person to any
brokers' or finder's fee or any other  commission  or similar fee in  connection
with any of the Transactions.

Section 4.23  Receivables and Payables.
              ------------------------

All Receivables and payables of the Subject Companies relating to the conduct of
the Business have arisen from bona fide  transactions  in the ordinary course of
business.  The  Subject  Companies  have  not  collected,   or  accelerated  the
collection  of,  any  Receivables  in a  manner  that is  inconsistent  with the
operation of the Business in the ordinary course consistent with past practice.

Section 4.24  Inventory.
              ---------

Except as  disclosed  in  Schedule  4.24,  all  Inventory  used in the  Business
conforms  in all  material  respects  with  all  applicable  specifications  and
warranties,  is not obsolete,  is useable or saleable in the ordinary  course of
business  and, if  saleable,  is saleable at values not less than the book value
amounts thereof except to the extent adequately  reserved.  All  work-in-process
and finished  goods  included in such Inventory have been produced in compliance
with all  applicable  quality  control  procedures.  The  value of all  items of
obsolete  materials and of materials of below standard  quality has been written
down to net realizable value or adequate  reserves have been provided  therefor.
All Inventory is valued at the lower of cost or market in  accordance  with IFRS
consistently applied.

                                       53
<PAGE>

Section 4.25  Books and Records.
              -----------------

Since July 1, 2002, all books of account and other  financial  books and records
of the Subject  Companies  relating to the Business or the Purchased  Assets are
true,  correct and complete in all material respects and have been maintained in
accordance  with sound business  practices.  Since July 1, 2002,  such books and
records reflect all the  transactions and other matters required to be set forth
under IFRS or other applicable accounting rules applied on a consistent basis.

Section 4.26  Affiliates Interests.
              --------------------

(a) Schedule 4.26 sets forth  separately  for each of the Subject  Companies (i)
all amounts paid (or deemed for  accounting  purposes to have been paid) by such
Subject Company to, or received by such Subject Company from, Amcor Australia or
any of its  Affiliates  (except  the  Acquired  Companies)  since  July 1,  2004
(including  any  charge  for  administrative,  purchasing,  financial  or  other
services)  and all such amounts  currently  owed by such Subject  Company to, or
owing to such Subject  Company from,  Amcor  Australia or any of its  Affiliates
(except the Acquired  Companies) and (ii) all products and services  provided by
such  Subject  Company to, or  received  by such  Subject  Company  from,  Amcor
Australia or any of its Affiliates (except the Acquired Companies) since January
1, 2005.

(b) Schedule 4.26 sets forth each written  Contract  between or among any of (i)
the Acquired Companies, on the one hand, and Amcor Australia or any of its other
Affiliates  (other than an  Acquired  Company),  on the other hand,  or (ii) the
Asset Sellers (in  connection  with the  Business),  on the one hand,  and Amcor
Australia  or any of its  other  Affiliates,  on the  other  hand.  Correct  and
complete  copies of the  Contracts  set forth on Schedule  4.26  (including  all
schedules,  exhibits and amendments thereto) as they relate to the Business have
been made available by the Selling Parties to Silgan.

(c) Except as set forth in Schedule 4.26, to the Selling Parties' Knowledge,  no
officer, manager, director, employee or agent of any of the Subject Companies or
any Affiliate of any Subject Company has any interest in any Real Property Lease
or Personal Property Lease.

Section 4.27  Customers, Suppliers, Distributors Etc.
              ---------------------------------------

Schedule  4.27 sets forth with  respect to the fiscal  years ended June 30, 2004
and 2005 a true and complete  list of (i) the five (5) largest  customers of the
Business in China, the five (5) largest customers of the Business in South Asia,
the five (5)  largest  customers  of the  Business  in  Venezuela,  the five (5)
largest  customers  of the  Business  in  Brazil  and the  thirty  (30)  largest
customers  of the  Business  (Europe  only) (in each case,  in closures  volume)
(collectively, the "Major Customers") and (ii) the four (4) largest suppliers to
the  Business  in Europe of tin plate,  the three (3) largest  suppliers  to the
Business in Europe of coating, the four (4) largest suppliers to the Business in
Europe of  compound,  the four (4) largest  suppliers to the Business in Asia of
tin plate,  the three (3) largest  suppliers  to the Business in Asia of coating
and the largest  supplier  to the  Business  in Asia of  compound,  the four (4)
largest  suppliers to the Business in South America of tin plate,  the three (3)
largest  suppliers to the Business in South America of coating and the three (3)
largest  suppliers to the Business in South America of compound (in Euro volume)
(collectively,  the "Major Suppliers"). Except as set forth in Schedule 4.27, no
Major

                                       54
<PAGE>

Supplier or Major  Customer has canceled or  otherwise  terminated,  or made any
written  or,  to each  Selling  Parties'  Knowledge,  oral  threat to any of the
Subject  Companies  or to  any  of  their  Affiliates  to  cancel  or  otherwise
terminate,  for any  reason,  including  the  consummation  of the  transactions
contemplated  by this Agreement or the Ancillary  Agreements,  its  relationship
with  the  Business,  or has at any time on or after  June  30,  2005  decreased
materially  its  services or  supplies  to the  Business in the case of any such
Major  Supplier  or its usage or  purchase  of the  services  or products of the
Business in the case of any such Major Customer.

Section 4.28  Products.
              --------

Schedule  4.28  sets  forth  as it  relates  to  the  Business  all  actions  or
proceedings  instituted at any time during the two (2) years  preceding the date
hereof  against any of the  Subject  Companies  in respect of  personal  injury,
wrongful  death or property  damage in excess of  (euro)100,000  alleged to have
resulted from the products or services provided by any of the Subject Companies.
Except as set forth on Schedule  4.28,  there have been no breach of warranty or
breach  of  representation  claims  against  any of  the  Subject  Companies  in
connection  with the Business during the two (2) years preceding the date hereof
which have resulted in any cost or expenditure  to any of the Subject  Companies
in excess of (euro)100,000.

Section 4.29  Powers of Attorney.
              ------------------

Except as set  forth on  Schedule  4.29 and  except  for  shippers  and  freight
forwarders  acting in the  ordinary  course of  business,  there are no  Persons
holding  general  or  special  powers  of  attorney  from  any of  the  Acquired
Companies.

Section 4.30  Computer Systems; Financial Reporting.
              -------------------------------------

To the Selling Parties' Knowledge, the computer systems, procedures,  databases,
software programs, and all other similar assets (the "Computer Assets") owned or
leased by, or used in the Business are in good working order and are  sufficient
in all respects for the Business as now being conducted. The Computer Assets and
the financial reporting policies and procedures of each of the Subject Companies
are  sufficient in all material  respects for  conducting  timely,  accurate and
complete reporting of all financial transactions.

Section 4.31  Permits.
              -------

The Subject  Companies have obtained or applied for, and are in compliance with,
all Governmental Permits (except Environmental Permits) that are required by any
Governmental Entity to conduct the Business as presently  conducted,  except for
such failures to hold or comply with such Permits that would not have a Material
Adverse Effect.

Section 4.32  Absence of Certain Business Practices.
              -------------------------------------

Since January 1, 2003, neither any Subject Company,  nor any of their current or
former  shareholders,   directors,   officers,  employees  or  agents  or  other
representatives,  nor any other Person acting on their  behalf,  has directly or
indirectly,  given or agreed to give any material contribution,  gift or similar
benefit  to or for  the  private  use of or at the  direction  of any  customer,
client, supplier,  governmental employee or other Person who is in a position to
help or hinder the

                                       55
<PAGE>

Business that is reasonably  likely to subject any Subject Company to any damage
or penalty in any action or proceeding in any jurisdiction.

Section 4.33  Subsidies and Grants.
              --------------------

Schedule  4.33 sets  forth all  subsidies,  investment  incentives,  grants  and
similar  arrangements  from a  Governmental  Entity that by their  terms  impose
material obligations on any Subject Company.

Section 4.34  Limitations on Representations and Warranties; Disclosure.
              ---------------------------------------------------------

Except for the  representations and warranties set forth in this Article IV, the
Selling Parties make no representation or warranty,  express or implied,  at Law
or in equity, in respect of the Business,  the Purchased  Equity,  the Purchased
Assets or the Assumed Liabilities, including with respect to the merchantability
or fitness for any particular  purpose,  and any such other  representations  or
warranties are hereby expressly disclaimed. In furtherance of the foregoing, any
representation  and  warranty or other  rights that may be implied by Law in any
jurisdiction  in relation to the sale of the  Purchased  Equity,  the  Purchased
Assets or the Business or the  assumption  of the Assumed  Liabilities,  in such
jurisdiction  shall, to the extent  permitted under  applicable Law, be excluded
or, if  incapable  of  exclusion,  irrevocably  waived and,  subject and without
prejudice  to the  Selling  Parties'  indemnification  obligations  pursuant  to
Article X, Purchaser  agrees to indemnify and hold the Selling Parties  harmless
in respect of any Losses  arising or  incurred  as a result of claims  under any
such implied representations and warranties and other rights of Purchaser or any
of its Affiliates or their respective successors in interest or title (including
any providers of financing to Purchaser).

                                   ARTICLE V
                    REPRESENTATIONS AND WARRANTIES OF SILGAN

Silgan hereby makes the following  representations and warranties to the Selling
Parties:

Section 5.1   Organization.
              ------------

Silgan is a  corporation  incorporated  under the laws of the state of Delaware.
Silgan is, and each  Purchaser  will be when  formed,  duly  organized,  validly
existing and in good standing under the Laws of their  respective  jurisdictions
of  formation  and Silgan has,  and each  Purchaser  when formed will have,  all
requisite  power,  authority  and legal  capacity to execute  and  deliver  this
Agreement  and each  Ancillary  Agreement  to which it is a party and to perform
their respective obligations hereunder and thereunder.

Section 5.2   Authorization; Validity of Agreement.
              ------------------------------------

The  execution,  delivery and  performance  by Silgan of this Agreement and each
Ancillary  Agreement  to  which  it is a  party  and  the  consummation  of  the
Transactions  have been duly  authorized by all requisite  action on the part of
Silgan and,  except as set forth on Schedule 5.2, no other action on the part of
Silgan will be necessary to authorize  the  execution  and delivery by Silgan of
this  Agreement  and each  Ancillary  Agreement  to which it is a party,  or the
consummation  of the  Transactions.  The execution,  delivery and performance by
each Purchaser

                                       56
<PAGE>

of each Ancillary  Agreement to which it will be a party and the consummation of
the Transactions  will be duly authorized by all requisite action on the part of
each  Purchaser  and no  other  action  on the  part of such  Purchaser  will be
necessary to authorize  the  execution  and  delivery by such  Purchaserof  each
Ancillary  Agreement  to  which  it  is a  party  or  the  consummation  of  the
Transactions.  No vote of, or  Consent or other  action  by, the  holders of any
class of Capital Stock issued by Silgan is, or any Purchaser will be,  necessary
to  authorize  the  execution  and  delivery by Silgan or any  Purchaser of this
Agreement or any Ancillary  Agreement to which it is a party or the consummation
by it of the  Transactions.  This  Agreement is duly  executed and  delivered by
Silgan.  Each of the Ancillary  Agreements  when executed and delivered  will be
duly  executed  and  delivered  by Silgan  and the  applicable  Purchaser.  This
Agreement  is, and each of the  Ancillary  Agreements  to which it or any of its
Affiliates  is a party when  executed and  delivered  will be, valid and binding
obligations of Silgan and the applicable  Purchaser,  enforceable against Silgan
and the  applicable  Purchaser  in  accordance  with their  terms  except (i) as
limited  by  applicable  bankruptcy,  insolvency,  reorganization,   moratorium,
fraudulent  conveyance and other similar Laws of general  application  affecting
enforcement of creditors'  rights  generally,  and (ii) the  availability of the
remedy of specific  performance or injunctive or other forms of equitable relief
may be subject to equitable  defenses and would be subject to the  discretion of
the court before which any proceeding therefor may be brought.

Section 5.3   Consents and Approvals; No Violations.
              -------------------------------------

Except  as set  forth  on  Schedule  5.3,  none of the  execution,  delivery  or
performance  by Silgan  or any  Purchaser  of this  Agreement  or any  Ancillary
Agreement to which it is a party, compliance by Silgan or any Purchaser with any
of the provisions  hereof or of any Ancillary  Agreement to which it is a party,
or the  consummation  by Silgan or any  Purchaser of the  Transactions  will (i)
conflict with or result in any breach of any provision of the Operating Document
or Organizational  Document of Silgan or any Purchaser;  (ii) require any filing
with,  notice prior to Closing to, or Consent of, any Person;  (iii) result in a
violation  or breach of, or  constitute  (with or without due notice or lapse of
time or both) a default under,  any of the terms of any Contract to which Silgan
or any  Purchaser is a party or by which Silgan or any Purchaser or any of their
respective properties may be bound; or (iv) violate any Law applicable to Silgan
or any Purchaser or to any of their  respective  properties,  excluding from the
foregoing  clauses (ii),  (iii) and (iv) such  violations,  breaches or defaults
that would not, individually or in the aggregate, reasonably be expected to have
a  material   adverse  effect  on  Silgan  or  its  ability  to  consummate  the
Transactions.

Section 5.4   Acquisition of Purchased Equity for Investment; Ability to
              ----------------------------------------------------------
              Evaluate and Bear Risk.
              ----------------------

(a) Each Purchaser is acquiring the Purchased Equity for investment and not with
a view toward,  or for sale in connection  with, any distribution  thereof,  nor
with any present  intention of  distributing  or selling the  Purchased  Equity.
Silgan agrees that the Purchased  Equity may not be sold,  transferred,  offered
for sale,  pledged,  hypothecated or otherwise disposed of without  registration
under any applicable  securities Laws, except pursuant to an exemption from such
registration under such Laws.

                                       57
<PAGE>

(b) Each  Purchaser is able to bear the economic  risk of holding the  Purchased
Equity for an indefinite  period and has  knowledge and  experience in financial
and  business  matters  such that it is capable of  evaluating  the risks of the
investment in the Purchased Equity.

Section 5.5   Litigation.
              ----------

There is no action or proceeding pending or, to Silgan's  knowledge,  threatened
against Silgan or any of its  Affiliates by or before any court or  Governmental
Entity that,  individually  or in the  aggregate,  would or would  reasonably be
expected  to impede the ability of Silgan or any  Purchaser  to  consummate  the
Transactions.

Section 5.6   Investigation by Purchaser; Selling Parties' Liability.
              ------------------------------------------------------

Silgan has conducted its own independent  investigation,  review and analysis of
the  business,  operations,  properties,  liabilities,  results  of  operations,
financial  condition,   software,   technology  and  prospects  of  the  Subject
Companies,  which investigation,  review and analysis was done by Silgan and its
Affiliates   and,  to  the  extent  Silgan  deemed   appropriate,   by  Silgan's
representatives.  Silgan acknowledges that it and its representatives  have been
provided  adequate  access  to the Data Room and to the  personnel,  properties,
premises and records of the Subject Companies for such purpose. In entering into
this  Agreement,  Silgan  acknowledges  that  it  has  relied  solely  upon  the
aforementioned  investigation,  review  and  analysis  and  not on  any  factual
representations  or  opinions  of the  Selling  Parties  or  any of the  Selling
Parties'  representatives (except the specific representations and warranties of
the Selling Parties set forth in Article IV of this Agreement), and Silgan:

(a)  acknowledges  that none of the Selling Parties or the Subject  Companies or
any  of  their  respective   directors,   officers,   shareholders,   employees,
Affiliates,  agents,  advisors or representatives  makes or has made any oral or
written  representation  or  warranty,  either  express  or  implied,  as to the
accuracy or  completeness  of any of the  information  (including any estimates,
projections, forecasts, operating plans or budgets concerning financial or other
information  relating to the Subject Companies or the Business) provided or made
available to Silgan or its directors, officers, employees, Affiliates, agents or
representatives  (including  (i) in  materials  furnished  in the  Data  Room or
contained on the Data Room Disk; (ii) in  presentations  by the Selling Parties'
or the  Subject  Companies'  management;  or (iii)  otherwise),  except that the
foregoing  limitations  shall not apply to the Selling  Parties  insofar as they
make the specific representations and warranties set forth in Article IV of this
Agreement;

(b) agrees,  to the fullest  extent  permitted by Law,  that none of the Selling
Parties  or the  Subject  Companies  nor  any  of  their  respective  directors,
officers,   employees,    shareholders,    Affiliates,   agents,   advisors   or
representatives   shall  have  any  liability,   obligation  or   responsibility
whatsoever to Silgan or its directors,  officers, employees,  Affiliates, agents
or  representatives on any basis (including in contract or tort, as a fiduciary,
under any applicable law or otherwise) based upon any information (including any
estimates,  projections,   forecasts,  operating  plans  or  budgets  concerning
financial  or other  information  relating  to the  Business)  provided  or made
available,  or statements made (including (i) in materials furnished in the Data
Room or contained on the Data Room Disk;  (ii) in  presentations  by the Selling
Parties' or the Subject Companies' management;  or (iii) otherwise) to Silgan or
its   directors,   officers,   employees,   Affiliates,

                                       58
<PAGE>

advisors,  agents or representatives (or any omissions  therefrom),  except that
the foregoing limitations shall not apply to the Selling Parties insofar as they
make the specific representations and warranties set forth in Article IV of this
Agreement; and

(c)  agrees  that this is an arm's  length  transaction  in which  the  Parties'
undertakings and obligations are limited to the performance of their obligations
under  this  Agreement  and the  Ancillary  Agreements,  that  Silgan has only a
contractual  relationship with the Selling Parties, based solely on the terms of
this  Agreement  and the  Ancillary  Agreements,  and that  there is no  special
relationship of trust or reliance between Silgan and the Selling Parties.

Section 5.7   Brokers or Finders.
              ------------------

Neither Silgan nor any Person acting on its behalf has entered into any Contract
entitling  any agent,  broker,  investment  banker,  financial  advisor or other
Person to any broker's or finder's fee or any other  commissions or similar fees
in connection with any of the Transactions.

                                   ARTICLE VI
                        CERTAIN COVENANTS AND AGREEMENTS

Section 6.1   Interim Operations of the Subject Companies.
              -------------------------------------------

Except  (i) as  expressly  provided  in this  Agreement;  (ii) as set  forth  in
Schedule 6.1; or (iii) as may be consented to in writing by Silgan (such consent
not to be unreasonably  withheld,  delayed or conditioned),  the Selling Parties
shall  procure that,  after the date hereof and prior to the Closing  Date,  the
Subject  Companies shall conduct the Business only in the ordinary course and no
Subject  Company shall take, or agree to take, any action that would or would be
reasonably likely to result in a breach of the first sentence of Section 4.10 or
the  occurrence  of any event or matter  set forth in  Section  4.10(a)  through
Section 4.10(r), and the Selling Parties shall cause each Subject Company to:

(a) refrain from  waiving,  releasing or canceling any material  claims  against
third  parties or material  debts owing to any of the Subject  Companies,  other
than in respect of claims or debts that would be Excluded Assets,  except in the
ordinary course of business consistent with past practice;

(b) refrain from  negotiating,  amending,  renewing or otherwise  executing  any
collective   bargaining  agreement  or  other  labor  agreement  or  voluntarily
reorganizing a labor organization  concerning or affecting the Business,  except
in the ordinary course of business consistent with past practice;

(c) refrain from making any material change in any accounting principle, method,
estimate  or  practice,  except  for any such  change  required  by  reason of a
concurrent change in IFRS;

(d) maintain in all material respects all insurance  coverage of the Business in
place as maintained prior to the date hereof;

(e) comply in all material  respects with and operate the Business in compliance
in all material respects with all applicable Laws, including Environmental Laws;

                                       59
<PAGE>

(f) maintain in all material  respects all books and records  pertaining  to the
Business and the Purchased Assets in the manner such books and records have been
maintained by the Subject Companies prior to the date hereof;

(g) pay all Taxes,  accounts payable and other  liabilities of the Business when
due consistent with past practice; and

(h) refrain from entering into any Contract to do any of the actions described
in (a) through (g) of this Section 6.1.

Section 6.2   Access; Confidentiality.
              -----------------------

The Selling  Parties shall cause the Subject  Companies  prior to the Closing to
(i) give  Silgan and its  authorized  representatives  reasonable  access to all
books,  records,  personnel  reasonably  designated by Amcor,  offices and other
facilities  and  properties of the Subject  Companies  relating to the Business;
(ii)  permit  Silgan to make such copies and  inspections  thereof as Silgan may
reasonably request; (iii) cause the officers of the Subject Companies to furnish
Silgan with such financial and operating data and other information with respect
to the Business and the  properties of the Subject  Companies as Silgan may from
time to time reasonably request,  including,  assessments,  audits,  studies and
data to which the  Selling  Parties  have access  concerning  the  existence  of
Hazardous  Substances at facilities or properties  presently or formerly  owned,
operated,  leased  or used  by the  Subject  Companies  or any  predecessors  in
interest or concerning  compliance with, or liability  under, any  Environmental
Laws;  and (iv)  permit  Silgan and its  authorized  representatives  to conduct
inspections as they may reasonably  require  (including any air, water, soil, or
other testing and monitoring  deemed  necessary by Silgan);  provided,  however,
that any such access  shall be conducted  at Silgan's  expense,  at a reasonable
time,  under the supervision of the Subject  Companies'  personnel and in such a
manner as to maintain the confidentiality of this Agreement and the Transactions
and not to  interfere  with the normal  operation of the business of the Subject
Companies  or  the  Business,  and  in  compliance  with  any  other  reasonable
requirements of the Subject  Companies,  including as to security and insurance.
Without in any manner limiting the generality of the foregoing,  (1) no physical
work or tests  involving the Real Property  shall be performed by Silgan without
the prior  written  consent  of the  Selling  Parties,  such  consent  not to be
unreasonably   withheld,   conditioned   or  delayed,   (2)  any   environmental
investigations  shall be in compliance  with all applicable Laws relating to the
protection of human health and the  Environment,  (3) Silgan will  indemnify and
hold the Selling  Parties  harmless  from and against  all costs,  expenses  and
damages  which the  Selling  Parties may incur or suffer to the extent that such
costs,  expenses or damages  arise  directly out of or result  directly from the
conduct  of the  investigations  by Silgan  and its  authorized  representatives
(excluding  any costs,  expenses  or  damages  to  respond  to any  pre-existing
environmental  issues that are  discovered as a result of such  investigations),
(4) Silgan will  promptly  provide the  Selling  Parties  with a copy of results
and/or reports  resulting from the conduct of any  environmental  investigations
and (5) Silgan  will notify the Selling  Parties as soon as  practicable  if any
condition is discovered  during the course of any  environmental  investigations
that Silgan  believes  may,  under any Law  regulating  the  protection of human
health or the Environment, give rise to an obligation to notify any Governmental
Entity.  Notwithstanding  anything  contained  in this  Agreement  or any  other
Contract  between Silgan and any Selling Party, but subject to Section 9.2, none
of the Selling Parties, the Subject Companies,

                                       60
<PAGE>

or any of their Affiliates shall have any obligation to make available to Silgan
or its  representatives,  or provide  Silgan or its  representatives  with,  any
consolidated, combined or unitary Tax Return filed by the Selling Parties or any
of their Affiliates or their respective  predecessors,  or any related material,
and  nothing  herein  shall  require a Selling  Party or a  Subject  Company  to
disclose any  information  to Silgan if such  disclosure  would,  in the Selling
Parties'  reasonable  discretion  (i) cause  significant  competitive  harm to a
Selling Party, a Subject Company or one of their  Affiliates if the Transactions
are not consummated (in which case such  information  shall be disclosed only to
the officers of Silgan  holding the position of Senior Vice President or higher,
who require such  information for purposes of the Transactions and who shall use
such information  solely for the purpose of the  Transactions),  (ii) jeopardize
any  attorney-client or other legal privilege or (iii) contravene any applicable
Laws,  fiduciary duty or Contract (including any  confidentiality  agreement) to
which a Selling Party or any Affiliate of a Selling Party is a party.

Section 6.3   Efforts and Actions to Cause Closing to Occur.
              ---------------------------------------------

(a) Prior to the Closing,  upon the terms and subject to the  conditions of this
Agreement,   Silgan  and  the  Selling   Parties  shall  use  their   respective
commercially  reasonable efforts to take, or cause to be taken, all actions, and
to do,  or cause to be done and  cooperate  with  each  other in order to do, or
cause to be done, all things reasonably  required to consummate the Transactions
as promptly as  practicable,  including the preparation and filing of all forms,
registrations  and notices  required to be filed to consummate the  Transactions
and the  taking  of such  actions  as are  reasonably  required  to  obtain  any
requisite  Consents,  orders,  permits,  qualifications,  or  exemptions  by any
Person. In addition,  no Party (or any of its respective  Affiliates) shall take
any action after the date hereof that would reasonably be expected to materially
delay the obtaining of, or result in not obtaining,  any Consent from any Person
required to be obtained prior to Closing.  Purchaser  shall provide its publicly
filed  financial  statements as may be  reasonably  requested by any third party
whose Consent is sought  hereunder.  Nothing  contained in this Agreement  shall
require any Selling Party or any Purchaser to pay any consideration  (other than
filing or  application  fees) or provide any other  incentive to any Person from
whom any  such  Consents,  orders,  permits,  qualifications  or  exemptions  is
requested, or to commence any litigation in respect of same.

(b) Prior to the Closing, each Party shall promptly consult with the other Party
with respect to and provide any information  reasonably required with respect to
all  filings  made by such  Party  with any  Governmental  Entity  or any  other
information  supplied by such Party to a Governmental  Entity in connection with
this Agreement and the  Transactions.  Each Party shall promptly  inform each of
the other  Parties in writing of any  communication  received by such Party from
any Governmental  Entity regarding the  Transactions.  If any Party or Affiliate
thereof  receives a request for  information  or  documentary  material from any
Governmental  Entity with  respect to any of the  Transactions,  then such Party
shall  endeavour  in good  faith  to  make,  or  cause  to be  made,  as soon as
reasonably  practicable  and  after  consultation  with the  other  Parties,  an
appropriate response in compliance with such request.

(c) In addition to and without limiting the agreements of the Parties  contained
above,  Silgan and the  Selling  Parties  shall (i) take  promptly  all  actions
reasonably  required  to make  the  filings  required  of  them or any of  their
respective  Affiliates  under any  applicable  Antitrust Law; (ii)

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<PAGE>

comply  at the  earliest  practicable  date  with  any  request  for  additional
information or documentary  material received by Silgan,  the Selling Parties or
any of their respective Affiliates from any Antitrust  Administrator or from any
other Governmental Entity in connection with antitrust matters;  (iii) cooperate
with each other in connection with any filing under any applicable Antitrust Law
and in connection with resolving any  investigation or other inquiry  concerning
the  Transactions  commenced  by  any  Antitrust   Administrator  or  any  other
Governmental  Entity; (iv) use their commercially  reasonable efforts to resolve
such  objections,  if any, as may be asserted  with respect to the  Transactions
under any  Antitrust  Law;  and (v) advise  the other  Parties  promptly  of any
material communication  received by such Party from any Antitrust  Administrator
or any other Governmental  Entity regarding any of the Transactions,  and of any
understandings, undertakings or agreements (oral or written) such Party proposes
to make or enter into with any Antitrust Administrator or any other Governmental
Entity in connection with the Transactions (it being understood that the Selling
Parties  shall  not  propose  (other  than to  Silgan)  or  enter  into any such
understandings, undertakings or agreements without the prior consent of Silgan).
Concurrently with the filing of notifications under any Antitrust Law or as soon
thereafter  as  practicable,  the Selling  Parties and Silgan shall each request
early  termination  of any  applicable  waiting  period.  Silgan  shall  consult
regularly  with the Selling  Parties in advance and from time to time  regarding
(1) the conduct and status of any filings with Governmental Entities and provide
the Selling  Parties  with  copies of such  filings in  sufficient  time for the
Selling Parties to provide meaningful input as to strategy and content (provided
that  Silgan  shall be entitled  to redact any of its  confidential  information
contained in such filings before  providing  copies to the Selling  Parties) and
(2) any significant strategies,  approaches or other actions that Silgan expects
or  intends  to  adopt  or  take  in   connection   therewith,   including   any
understandings,  undertakings  or  agreements  (oral  or  written)  that  Silgan
proposes  to make or  enter  into  with  any  Antitrust  Administrator  or other
Governmental Entity, and, in Silgan's reasonable  discretion,  shall provide the
Selling  Parties with an  opportunity  to  participate  in meetings or telephone
calls with any Antitrust Administrator or any other Governmental Entity.

Section 6.4   Publicity.
              ---------

Neither a Selling  Party nor  Silgan,  nor any of their  respective  Affiliates,
shall issue or cause the  publication  of any press release or other internal or
external announcement with respect to this Agreement or the Transactions without
the  agreement of the other,  except as may be required by Law or by any listing
agreement  with a  securities  exchange  or  trading  market,  in which case the
disclosing  Party  shall make  available  to the other  Party a copy of any such
release or announcement prior to making such disclosure.

Section 6.5   Employees; Employee Benefits.
              ----------------------------

(a) Silgan  agrees and  acknowledges,  effective as of the Closing  Date, to the
extent  required  by Law,  all  Employees  shall  continue to be employed by the
Acquired Companies or the Purchasers, as applicable, on the terms and conditions
on which they were employed immediately prior to the Closing. If not so required
by  applicable  Law,  Silgan  agrees and  acknowledges  that  Employees  will be
employed initially at a compensation level (including salary and bonus) and with
benefits  that,  in  the  aggregate,   are   substantially   comparable  to  the
compensation and benefits that such Employee  received  immediately prior to the
Closing.

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<PAGE>

(b) The Parties  acknowledge  and agree that on Closing,  in accordance with the
provisions of the ARD, the Contracts of employment of the Employees of the Asset
Sellers  in  connection  with the  Business  shall  transfer  to the  applicable
Purchaser and will have effect after  Closing as if originally  made between the
applicable  Purchaser and such  Employees.  The Asset  Sellers  (relating to the
Business)  in  Europe  will  comply  with  all  information   and   consultation
requirements,  whether under the ARD or otherwise,  in relation to the Employees
of the Asset Sellers being  transferred to the applicable  Purchaser,  and their
representatives, trade unions and collective bodies.

Section 6.6   Intercompany Arrangements.
              -------------------------

Except as provided  in Schedule  6.6,  in Section  6.10,  in Section  6.16 or as
otherwise  expressly  contemplated by this Agreement,  all Contracts relating to
the conduct of the Business that are solely  between a Subject  Company,  on the
one hand,  and the  Selling  Parties and any of their  Affiliates  (other than a
Subject  Company),  on the other  hand,  shall be  terminated  and of no further
effect, simultaneously with the Closing without any further action, liability or
obligation  on the part of the  parties  thereto  save in respect of any accrued
rights or obligations (including as to any payment obligations).

Section 6.7   Maintenance of Books and Records.
              --------------------------------

Silgan  shall  preserve,  until at least the eighth  anniversary  of the Closing
Date, all pre-Closing Date records of the Acquired  Companies and/or included in
the  Purchased  Assets.  After the  Closing  Date and until at least the  eighth
anniversary of the Closing Date,  upon any Covered  Request from a Selling Party
or its Affiliate, Silgan shall (i) provide the Selling Party or its Affiliate or
their respective representatives reasonable access to such records during normal
business  hours  and (ii)  permit a  Selling  Party  or its  Affiliate  or their
respective  representatives  to make copies of such records,  in each case at no
cost (other than for  reasonable  out-of-pocket  expenses).  For purpose of this
Section 6.7, a "Covered Request" shall mean a written request in connection with
an audit,  accounting,  tax, litigation,  securities disclosure or other similar
need or reasonable business purpose.

Section 6.8   Cooperation in Litigation.
              -------------------------

Each  Party  shall  reasonably  cooperate  with  the  other  in the  defense  or
prosecution  of any  action or  proceeding  already  instituted  or which may be
instituted  hereafter by a third party  against or by such Party  relating to or
arising out of the conduct of the Business prior to the Closing Time (other than
an action or proceeding arising out of the Transactions).

Section 6.9   Insurance.
              ---------

Silgan  acknowledges  and agrees that  effective  with the Closing all insurance
coverage  provided to the Subject  Companies by a Selling Party or any Affiliate
of a Selling Party shall terminate (it being understood that all local insurance
of the Acquired  Companies may continue  after the Closing if the local insurers
concur).  For greater  certainty,  it is agreed that all prepaid  insurance with
respect to the Subject  Companies  shall  belong to the Selling  Parties and the
Acquired  Companies  shall pay any amount  received in  connection  therewith to
Amcor Australia.

                                       63
<PAGE>

Section 6.10  Intercompany Receivables, Payables and Indebtedness.
              ---------------------------------------------------

(a) The  Parties  agree and  acknowledge  that any  intercompany  receivable  or
payable  balance between a Subject Company (on the one hand) and a Selling Party
or  Affiliate  of a Selling  Party other than an Acquired  Company (on the other
hand) that  arose from the  intercompany  supply of goods or  services  (trading
balances) pursuant to a bona fide transaction in the ordinary course of business
and which are no more than one (1) year old shall remain  outstanding  as of the
Closing Date. The Parties further agree and acknowledge that such payables shall
be paid  after the  Closing  in  accordance  with  their  terms in the  currency
denominated  on the  applicable  invoice  in the  ordinary  course of  business.
Notwithstanding  the foregoing,  the Selling Parties  acknowledge and agree that
any intercompany  receivable balance owed by Amcor PET Packaging de Venezuela SA
to Amcor Venezuela shall be paid in full prior to Closing.

(b) The Parties further agree and acknowledge that any intercompany Indebtedness
for borrowed  money between an Acquired  Company (on the one hand) and a Selling
Party or an Affiliate of a Selling Party,  including an Acquired Company (on the
other hand) shall be paid in full prior to Closing;  provided that  intercompany
Indebtedness  for  borrowed  money owed by Amcor  Ukraine to Amcor UK Finance or
Amcor Shanghai to Amcor Australia  shall remain  outstanding and shall be repaid
at or  immediately  following the Closing for such Acquired  Company;  provided,
however,   that  to  the  extent  necessary  the  amount  of  such  intercompany
Indebtedness  estimated at Closing for the purposes of determining the amount of
Closing  Indebtedness  will  be  reconciled  with  the  actual  amount  of  such
intercompany  Indebtedness  as finally  determined  by the Parties after Closing
pursuant to Section 2.5 and any outstanding  balances shall be promptly  settled
as therein set forth.

Section 6.11  Name Change.
              -----------

(a) Silgan hereby  acknowledges that it shall have no rights in the name "Amcor"
and covenants that (i) it shall not change its legal corporate name (or the name
of any of its  Affiliates)  to a name  that  includes  the word  "Amcor"  or any
similar word that would raise a  reasonable  likelihood  of confusion  with such
term,  and (ii) within  ninety (90) days after the Closing Date, it shall change
the  legal  corporate  name of each  Acquired  Company  to a name  that does not
include  the word  "Amcor" or any  similar  word that would  raise a  reasonable
likelihood of confusion with such term;  provided that Sprint  Australia and its
Affiliates shall  reasonably  cooperate with such Acquired Company to change its
legal corporate name. Notwithstanding the foregoing, effective as of the Closing
Date the Selling  Parties hereby grant to Silgan and each Purchaser a worldwide,
royalty-free  license to use the "Amcor" mark as the  trademark,  service  mark,
logo, slogan,  and/or trade dress of any one or more of the Acquired  Companies,
Silgan or any Purchaser in connection with the Business for the use and sell off
of only (i)  products  existing in  inventory or on order as of the Closing Date
and  packaging  existing in inventory or on order in the ordinary  course within
thirty  (30)  days  after  the  Closing  Date,  and (ii)  signage,  advertising,
stationery, letterhead, corporate documents or any other business materials. The
license  granted under this Section 6.11(a) shall be for a period of one hundred
eighty (180) days  following the Closing Date.  Notwithstanding  the  foregoing,
Silgan  shall not be required to change,  alter or modify the molds  included in
the  Purchased  Assets  or the  assets  of the  Acquired  Companies  to  remove,
permanently  obliterate,  cover or otherwise  eliminate  the word "Amcor" or any
similar word from the molds (if in fact such  word(s)  exist on the molds) until
Silgan changes, alters or modifies the

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<PAGE>

molds in the  ordinary  course  of  business.  Silgan  and the  Purchaser  shall
indemnify  Amcor  Australia and its  Affiliates  and hold them harmless from and
against any and all Losses  suffered or incurred by them in connection  with the
use of the "Amcor" mark on the materials described in clauses (i) and (ii) above
or on the  molds.  At the  Closing  or as soon as  practicable  thereafter,  the
Selling Parties shall deliver to Silgan and the Purchasers the content  relating
to "White Cap" of web sites of "Amcor" in order to effectuate the assignment and
transfer of such content.

(b) The Selling Parties hereby acknowledge that they shall have no rights in the
name "White  Cap" and  covenant  that within  ninety (90) days after the Closing
Date, each Selling Party and any other Affiliate of Amcor Australia  (other than
the Acquired  Companies)  with the name "White Cap" in its legal  corporate name
shall change the legal  corporate name of each such Selling Party to a name that
does not include the words  "White Cap" or any similar  words that would raise a
reasonable likelihood of confusion with such term and change any domain names of
each such Selling Party to a name that does not include the words "White Cap" or
any similar  words that would raise a reasonable  likelihood  of confusion  with
such term;  provided that Silgan and its Affiliates shall  reasonably  cooperate
with such Selling Party to change its legal corporate name.

Section 6.12  Reorganizations.
              ---------------

It  is   understood   and  agreed  that  Amcor   Australia   may  cause  certain
reorganizations to occur with respect to Amcor International and Amcor Singapore
which would result in the Purchased  Equity owned by such companies  being owned
by other  Affiliates  of Amcor  Australia,  in which case such other  Affiliates
shall  become  Selling  Shareholders  hereunder  and shall be treated as Selling
Shareholders  for all purposes under this Agreement,  including  representations
and warranties, covenants and indemnities. The Selling Parties shall be entitled
to update Schedules to the extent necessary to reflect any such reorganizations,
it being  understood  that if the Purchasers  suffer any Losses relating to such
reorganizations,  the Purchasers shall be entitled to seek  indemnification  for
such Losses under Article X.

Section 6.13  Assignment of Contracts.
              -----------------------

The assignment of any Purchased Asset (including of any Assumed  Contract,  Real
Property Lease,  Personal Property Lease, or Governmental Permit) to be assigned
to any of the  Purchasers  pursuant to this  Agreement  shall not  constitute  a
Contract to assign the same to the extent that an attempted  assignment  without
the Consent of the other party  thereto or of any  Governmental  Entity,  as the
case may be,  would  constitute  a breach  thereof  or give rise to any right of
termination, cancellation or acceleration thereunder or would violate any Law or
Governmental Permit. The Selling Parties shall use their commercially reasonable
efforts,  as requested by Silgan,  to procure  Consents to any such  assignment;
provided  that the  Selling  Parties  shall  not be  obligated  to  provide  any
incentives to induce  Consent to such  assignment  or to commence  litigation to
compel  Consent to such  assignment.  For a period of one (1) year following the
Closing Date or until any such Consent is obtained, whichever is shorter, to the
extent  permitted  by  applicable  Law,  the Asset  Sellers  shall  maintain the
existence of such Purchased Asset,  shall hold such Purchased Asset in trust for
the  respective  Purchaser  and shall  cooperate  with Silgan in any  reasonable
arrangement  designed to provide such  Purchaser all of the benefits of any such
Purchased  Asset,  including  enforcement  of any and all  rights  of the  Asset
Sellers against the

                                       65
<PAGE>

other  party  thereto  arising out of the breach,  cancellation  or  termination
thereof by such party;  provided that the respective  Purchaser shall assume the
liabilities  of the Asset  Sellers  and  indemnify  and hold the  Asset  Sellers
harmless  from and against any and all Losses in connection  therewith  (subject
and  without  prejudice  to the  Selling  Parties'  indemnification  obligations
pursuant  to Article X hereof)  arising  under  such  Purchased  Asset,  for the
benefit of the Asset Sellers and the other party or parties thereto.

Section 6.14  [Intentionally Omitted].
              -----------------------

Section 6.15  Bulk Transfer Laws.
              ------------------

It is agreed that the Asset Sellers and the Selling Parties will not comply with
the  provisions  of any  so-called  bulk  transfer  or  bulk  sales  Laws of any
jurisdiction  in  connection  with the sale to the  Purchasers  of the Purchased
Assets;  provided  that Amcor  Turkey shall  register the sale of its  Purchased
Assets to the  applicable  Purchaser  with the Trade  Registry  in Turkey if the
applicable  Purchaser will be purchasing the Purchased Assets of Amcor Turkey in
lieu of the Capital Stock of Amcor Turkey.

Section 6.16  Transitional Services.
              ---------------------

At the Closing, Amcor Australia and its applicable Affiliates shall enter into a
Transition  Services  Agreement  with Silgan,  the  Purchasers  and the Acquired
Companies,  in form and  substance  mutually  agreed to by the  parties  in good
faith,  pursuant to which (i) one or more of Amcor  Australia and its applicable
Affiliates  will provide to Silgan,  the Purchasers  and the Acquired  Companies
services  reasonably  required by Silgan,  any Purchaser or any Acquired Company
substantially  as provided by them to the Business prior to the Closing Date and
(ii) one or more of the  Purchasers  and the Acquired  Companies will provide to
Amcor Australia and its applicable  Affiliates  services  reasonably required by
Amcor Australia or its applicable  Affiliates  substantially  as provided by the
Business prior to the Closing Date, in each case, for a period of six (6) months
from the Closing Date (it being agreed that the Parties shall  negotiate in good
faith an extension  of such period for any service any Party  acting  reasonably
has not been able to provide  itself or procure from a third party),  for prices
charged to or by such party as reflected in the Financial  Statements as of June
30, 2005 and with the ability of the party  receiving  the services to terminate
such  services  on a  service-by-service  basis at any time upon ten (10)  days'
notice during the term of such Transition Services Agreement.

Section 6.17  Updating Schedules.
              ------------------

The Selling  Parties shall be entitled to update,  amend or modify the Schedules
to this  Agreement  set forth in  Article  IV of this  Agreement  after the date
hereof  to  the  Closing  Date  (the  "Update   Period")  to  reflect   factors,
circumstances  or events first  arising or, in the case of  representations  and
warranties  given  to the  Selling  Parties'  Knowledge,  becoming  known to the
Selling Parties during the Update Period by providing Silgan with written notice
setting  forth the update and  specifying  the  Schedule to be updated  thereby;
provided,  however, that if any such Schedules are updated,  amended or modified
in a manner that  discloses  any matter that,  individually  or in the aggregate
with other such matters,  has or would reasonably be expected to have a Material
Adverse  Effect,  Silgan may  immediately  terminate this Agreement  pursuant to
Section 8.1(f). In

                                       66
<PAGE>

addition,  the Selling Parties shall update,  amend or modify Schedules  1.1(A),
2.2(a)(ix), 2.2(a)(xiv),  2.2(b)(xii),  2.2(b)(xiv) and 3.2(c) to this Agreement
during the Update Period to reflect only changes in such Schedules for Contracts
entered into,  amended or  terminated  in accordance  with their terms or assets
acquired or  disposed  of,  each  during the Update  Period and in the  ordinary
course of business and  consistent  with  Section 6.1 hereof.  To the extent any
such update  pursuant to this Section 6.17 causes Silgan or an Acquired  Company
to incur a Loss and Silgan does not have the right to terminate  this  Agreement
as hereinabove set forth,  Silgan shall be entitled to seek  indemnification for
such Loss in accordance with Article X.  Notwithstanding  anything herein to the
contrary, in the event Silgan exercises its right to terminate this Agreement as
hereinabove set forth and the update,  amendment or modification  giving rise to
such termination relates to facts,  circumstances or events first arising during
the Update Period, the Selling Parties shall have no liability for any Loss.

Section 6.18  Third-Party Indebtedness; Releases.
              ----------------------------------

(a) The Selling Parties agree and acknowledge that any third-party  Indebtedness
for borrowed money between an Acquired Company (other than Amcor Shanghai, Amcor
Ukraine,  Amcor Polska,  Amcor  Venezuela,  Amcor South East Asia and Amcor Asia
Pacific) and a third party shall be paid in full prior to Closing.

(b)  Within  thirty  (30)  days  after  the  Closing  Date,  in  respect  of the
Indebtedness of Amcor Shanghai,  Amcor Ukraine,  Amcor Polska,  Amcor South East
Asia and Amcor Asia Pacific  outstanding  as of the Closing Date, the respective
Acquired Company shall either (i) repay all amounts due under such  Indebtedness
or (ii) in respect of  Indebtedness  not  repaid,  deliver to Amcor  Australia a
release  and  discharge  from  the  lender,  in form  and  substance  reasonably
satisfactory to Amcor Australia, in respect of such Indebtedness.

(c) In respect of the  guarantees to third  parties set forth on Schedule  6.18,
Silgan shall use commercially  reasonable  efforts to deliver to Amcor Australia
releases under such guarantees.

Section 6.19  Notice of Developments.
              ----------------------

Prior  to the  Closing  Date,  each  of  the  Selling  Parties  and  Silgan,  as
applicable, shall promptly notify the other of:

(a) any  notice or other  communication  such  Party  receives  from any  Person
alleging  that the consent of such  Person is or may be  required in  connection
with  the   transactions   contemplated  by  this  Agreement  or  the  Ancillary
Agreements; and

(b) any change  that could  delay or impede  the  ability of either the  Selling
Parties or Silgan to perform their respective  obligations  under this Agreement
and the Ancillary  Agreements  and to consummate the  transactions  contemplated
hereby and thereby; and

(c) in the  case of the  Selling  Parties,  any  change  that  has had or  could
reasonably be expected to have a Material Adverse Effect.

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<PAGE>

Section 6.20  Exclusivity.
              -----------

From the date hereof  through  the  earlier of the  Closing  Date or the earlier
termination  of this  Agreement in  accordance  with Article  VIII,  the Selling
Parties shall not, and shall direct each of their Affiliates not to, directly or
indirectly:

(a) sell or agree to sell to any other Person, or solicit or accept any offer to
purchase from any other Person,  or negotiate with any other Person for the sale
of, any of the Business or the  Acquired  Companies,  whether  such  transaction
takes the form of a sale of stock, the sale of an option to acquire stock either
directly or  indirectly  through  purchase  of a  derivative  security,  merger,
consolidation, sale of assets or otherwise;

(b) provide any information to any other Person  concerning the same (other than
information  which the Selling Parties and/or its shareholders  provide to other
Persons in the ordinary course of business consistent with past practice); or

(c) enter into or continue any  discussions  with any other Person in connection
with (a) or (b) above.

Section 6.21  Audited Financial Statements.
              ----------------------------

The Selling Parties shall use their commercially  reasonable efforts to cause to
be prepared and delivered to Silgan within sixty (60) days from the date hereof,
at Silgan's  cost,  (i) the audited  consolidated  balance  sheet of the Subject
Companies  as at June 30,  2005;  (ii) the audited  consolidated  statements  of
profit and loss of the Subject Companies for the twelve-month  period ended June
30,  2005;  and (iii) the  audited  consolidated  statement  of cash flow of the
Subject Companies for the twelve-month  period ended June 30, 2005, all prepared
in  accordance  with IFRS  applied  on a  consistent  basis  (collectively,  the
"Audited Financial  Statements");  provided,  however, that as regards the Asset
Sellers,   the  Audited  Financial   Statements   include  only  such  financial
information  as is applicable  to the Business and not to any other  business or
activities carried on by any such Asset Seller, and that for the purposes of the
definition of Audited Financial Statements, "Subject Companies" does not include
Amcor Australia.  If the Audited  Financial  Statements are not delivered within
the time period  specified above, the Selling Parties shall cause their auditors
to deliver to Silgan at least  thirty  (30) days  prior to Closing  the  current
draft of such Audited Financial  Statement and a reasonably detailed list of the
remaining open items in such draft Audited Financial  Statements.  These audited
financial  statements shall be audited by Amcor's current  auditor.  The Selling
Parties  represent  and warrant that the Audited  Financial  Statements  will be
prepared from the books and records of the Subject  Companies,  will be prepared
in accordance with IFRS applied on a basis consistent with the books and records
of  the  Business,  and  will  fairly  present  in  all  material  respects  the
consolidated  financial position and the consolidated  results of operations and
cash  flows  of the  Subject  Companies,  as of the  times  and for the  periods
referred to therein.  The Audited Financial  Statements shall include a footnote
setting forth a  reconciliation  from IFRS to United States  generally  accepted
accounting  principles.   The  audit  is  to  be  conducted  at  an  appropriate
materiality  level  calculated by Amcor's  current auditor based on the Acquired
Companies and the Asset Sellers (to the extent related to the Business)  being a
stand alone  entity.  It is  acknowledged  that  because  the Audited  Financial
Statements  are being  prepared  with a different

                                       68
<PAGE>

materiality  level and with a  different  knowledge  base  (only  because of the
passage  of time as it  relates  to the  transpiring  of  events or  changes  in
circumstances)  than were the Individual  Statements  described in clauses (i) -
(iii) of the  definition of Financial  Statements  (collectively,  the "June 30,
2005  Financial  Statements"),  there may be  differences  between  the  Audited
Financial Statements and the June 30, 2005 Financial Statements. Furthermore, it
is agreed that any difference  between the Audited Financial  Statements and the
June 30,  2005  Financial  Statements  because of the reasons  described  in the
foregoing sentence shall not, in and of itself,  form the basis for a claim that
there was a breach  of the  representation  and  warranty  set forth in  Section
4.8(a) or this Section 6.21.

Section 6.22  Collection of Receivables.
              -------------------------

For the one  hundred  eighty  (180) day  period  after  the  Closing  Date,  the
respective  Purchasers and Acquired  Companies  will collect the  Receivables in
accordance with  reasonably  prudent  business  practices (but without resort to
actual or threatened  litigation  or the use of  collection  agencies or similar
efforts).  One  hundred  eighty  (180)  days after the  Closing  Date (such date
referred  to as the  "Repurchase  Date"),  Silgan  shall  present to the Selling
Parties a list of the unpaid  Receivables  at the end of such one hundred eighty
(180) day period (the  "Uncollected  Receivables").  Promptly  after receipt and
verification  of such list,  Silgan  shall  inform  the  Selling  Parties  which
Uncollected  Receivables  Silgan, in its sole discretion,  elects to transfer to
the Selling Parties (or one or more Persons as designated by the Selling Parties
(their  "Designees")).  The  respective  Purchaser  or  Acquired  Company  shall
transfer  to  the  Selling  Parties  (or  their   Designees)  such   Uncollected
Receivables and all remaining records pertaining  thereto.  Any such Uncollected
Receivables not transferred to the Selling Parties (or their Designees) shall be
deemed retained by the respective  Purchaser or Acquired Company and Silgan will
have no claims with respect to such Uncollected  Receivables against any Selling
Party to the extent not  collected  (the  "Retained  Receivables").  The Selling
Parties  (or their  Designees)  shall  thereafter  be  entitled  to collect  the
Uncollected  Receivables to the extent  transferred  to the Selling  Parties (or
their  Designees) for their own account.  The  respective  Purchaser or Acquired
Company shall promptly pay to the Selling  Parties the amount,  if any, by which
the amount of the Uncollected Receivables transferred to the Selling Parties (or
their Designees) is less than the difference  between the aggregate  reserve for
the  Receivables  on the  Closing  Statement  less the  reserve  relating to the
Retained  Receivables.  The Selling Parties (or their  Designees) shall promptly
pay to the respective Purchaser or Acquired Company the amount, if any, by which
the amount of the Uncollected Receivables transferred to the Selling Parties (or
their Designees)  exceeds the difference  between the aggregate  reserve for the
Receivables on the Closing  Statement less the reserve  relating to the Retained
Receivables.  The Party making any payment under this Section 6.22 shall make it
in Euros and the amount of all such Uncollected  Receivables shall be calculated
by using the Exchange Rate as of the Closing  Date.  Each Party shall apply each
payment for an Uncollected Receivable received by such Party to the reduction of
the applicable customer's  outstanding balance by first applying such payment to
the oldest  invoice  (unless such payment  specifically  identifies  the invoice
being  paid,  in which  case such  payment  shall be  applied  to such  specific
invoice, and provided that payments shall not be applied against an invoice that
is the  specific  subject  of a bona fide  dispute  by the  customer  until such
dispute is resolved).  For example, if the amount of the Uncollected Receivables
is  (euro)100,000,  the  aggregate  reserve for the  Receivables  on the Closing
Statement  is  (euro)50,000,  the  receivable  for a certain  customer  that the
applicable  Purchaser or Acquired  Company has not transferred to the

                                       69
<PAGE>

applicable Selling Party (or its Designee) is (euro)20,000,  and the reserve for
the  receivables  on  the  Closing  Statement   relating  to  such  customer  is
(euro)20,000,  then the applicable  Purchaser or Acquired Company shall transfer
(euro)80,000 in Uncollected  Receivables to the applicable  Selling Party or its
Designees and the Selling Parties shall promptly pay to the respective Purchaser
or Acquired Company (euro)50,000.

Section 6.23  Rework and Refunds.
              ------------------

As of the Closing Date, the Purchasers shall assume and thereafter discharge all
responsibilities,  liabilities  and  obligations of the Asset Sellers for Rework
and Refunds  arising out of products  manufactured by the Asset Sellers prior to
the Closing Date (the "Asset  Sellers'  Pre-Closing  Products") and the Acquired
Companies  shall  discharge  all  of  their  responsibilities,  liabilities  and
obligations for Rework and Refunds arising out of products  manufactured by them
prior to the  Closing  Date  (collectively,  together  with the  Asset  Sellers'
Pre-Closing Products, the "Pre-Closing Products"); provided, however, that Amcor
Australia agrees to pay to Silgan the excess of (i) the value for all Rework and
the amount of all Refunds incurred by the Acquired  Companies and the Purchasers
with respect to the  Pre-Closing  Products  over (ii) the  aggregate  amount for
"Product  Warranties" and "Product  Warranties  without Legal  Obligations"  set
forth on Schedule  1.1(B).  Amcor Australia shall make payment in Euros, and the
value for such  Rework and the amount of such  Refunds  shall be  calculated  by
using the Exchange Rate as of the date the Refund is paid to the customer or the
Rework is  delivered to the  customer.  The  issuance by the  Purchasers  or the
Acquired Companies of credit memos, customer accommodations or similar items for
any Rework or Refund and the payment by the Purchasers or the Acquired Companies
of any Refund  shall be made in  accordance  with  reasonably  prudent  business
practices  and  without   consideration  of  the  Selling  Parties'  obligations
hereunder. Amcor Australia shall have approval rights with respect to any Refund
or Rework together with all related Refunds or Reworks,  exceeding (euro)62,500,
such approval not to be unreasonably withheld,  conditioned or delayed; provided
that to the extent that Amcor Australia is responsible for aggregate payments in
excess of (euro)1.5 million pursuant to this Section 6.23, Amcor Australia shall
have  approval  rights with  respect to any Rework or Refund  together  with all
related  Refunds  or  Reworks,  over  (euro)25,000,  such  approval  not  to  be
unreasonably  withheld,  conditioned  or delayed.  In  approving  such Refund or
Rework,  Amcor  Australia  shall act reasonably in a manner  consistent with its
past practice in connection with Refunds or Reworks. If Amcor Australia does not
object to any such Refund or Rework  within ten (10)  Business  Days after being
notified  about  any  proposed  Refund  or  Rework,  it shall be  deemed to have
irrevocably  approved such Refund or Rework.  Within thirty (30) days  following
the end of each calendar month following the Closing Date,  Silgan shall deliver
to Amcor Australia written notice (the "Payment Notice") of the amount of Rework
and Refunds that the Purchasers and the Acquired Companies incurred on and prior
to the end of each such month.  During the thirty (30) day period  following its
receipt of each  Payment  Notice,  Amcor  Australia  shall be  entitled  to have
reasonable  access to the books and records of the  Acquired  Companies  and the
Purchasers with respect to Reworks and Refunds,  to reasonably request copies of
supporting  documents  for the purpose of  verifying  the amounts of Reworks and
Refunds and,  with  reasonable  prior notice to Silgan,  to conduct an audit for
reasonable verification of the Reworks and Refunds if it deems it necessary. The
amount due hereunder by Amcor Australia to Silgan shall be paid to Silgan within
thirty (30) days following  Amcor  Australia's  receipt of each Payment  Notice,
unless  such amount is being  contested  in good faith by Amcor  Australia.  All
amounts due from Amcor

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<PAGE>

Australia  to Silgan  under this Section 6.23 shall be reduced from time to time
by the salvage value or other value, if any,  recovered by the Purchasers or the
Acquired  Companies,  consistent  with past practices of the applicable  Subject
Company,  from any Pre-Closing  Products with respect to which Rework or Refunds
are provided hereunder.  The Selling Parties shall have no liability for Reworks
or  Refunds  except  as  provided  in this  Section  6.23.  Notwithstanding  the
foregoing,  this  Section  6.23  shall not cover any other  claims  relating  to
products which are covered by Section 10.2(e).

Section 6.24  German Lease.
              ------------

Amcor Australia and Amcor  Deutschland shall use their  commercially  reasonable
efforts to enter into the New German Lease as set forth in Section 7.2(a).

Section 6.25  Newco Italy Contribution.
              ------------------------

No later than five (5) days prior to Closing,  Amcor  Italy shall have  effected
the Newco Italy  Contribution at fair market value in accordance with applicable
Laws.

Section 6.26  Philippine Share Transfer.
              -------------------------

At the request of Silgan, Amcor Australia shall cause all right and title to the
qualifying shares, if any, held by the directors of Amcor South East Asia, Amcor
Asia Pacific,  Amcor Investments and Amcor  Properties,  at the closing for such
Acquired Companies,  as requested by Silgan, to be transferred and conveyed to a
Person designated by Silgan, free and clear of all Encumbrances.

Section 6.27  Cerebos Supply Agreement.
              ------------------------

As promptly as  practicable,  the Selling  Parties shall use their  commercially
reasonable  efforts  to  enter  into  an  amendment  to  the  Cerebos  Agreement
containing  the  terms  and  conditions  set  forth  on Annex  B.  Silgan  shall
reasonably cooperate with the Selling Parties in connection therewith, including
by meeting with Cerebos and providing such information to Cerebos as Cerebos may
reasonably request.

Section 6.28  Venezuela.
              ---------

As  soon  as   practicable,   the   Selling   Parties   shall   dispose  of  all
asbestos-containing  materials stored during the period Amcor Venezuela is owned
by  the  applicable  Selling  Party  on  the  grounds  of  the  Amcor  Venezuela
manufacturing plant located in Valencua - Edo. Carabobo, Venezuela in compliance
with all applicable  Laws and reasonably  satisfactory  to Silgan.  Silgan shall
reasonably cooperate with the Selling Parties in connection therewith, including
by taking all reasonable steps to ensure that storage and containment procedures
implemented  by the Selling  Parties are not  disturbed or tampered  with and by
giving the Selling Parties reasonable access to the asbestos containing material
to check and  maintain  the  storage and  containment  thereof and to effect the
disposal of the  asbestos  containing  materials.  As soon as  practicable,  the
Selling Parties shall use its commercially  reasonable efforts to cause all Book
Cash  Balances of Amcor  Venezuela as of the close of  business,  local time for
Amcor  Venezuela,  on the  day  immediately  prior  to the  Closing  Date  to be
distributed out of such company; provided such

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<PAGE>

distributions  or payments are net of any Taxes payable by Amcor  Venezuela with
respect thereto.

                                  ARTICLE VII
                              CONDITIONS TO CLOSING

Section 7.1   Conditions to Each Party's Obligation to Effect the Closing.
              -----------------------------------------------------------

The respective  obligation of each of the Parties to effect the Closing shall be
subject  to the  satisfaction  on the  Closing  Date of  each  of the  following
conditions:

(a) Laws;  Court Orders.  No Law shall have been enacted or  promulgated  by any
Governmental  Entity that prohibits the  consummation  of the  Transactions  and
there shall be no order or judgment in effect  prohibiting  consummation  of the
Transactions;  provided,  however, that the Parties shall use their commercially
reasonable efforts to have any such order or judgment vacated or lifted.

(b)  Antitrust  Approval.  Any  Consents  of or actions  (or  inactions)  by any
Antitrust  Administrator or the expiry of any applicable  waiting periods as set
forth on Schedule 7.1(b) shall have been obtained.

(c) Purchase Price  Allocation.  The Purchase Price  Allocation  shall have been
mutually agreed to by the Parties in good faith.

(d) Consultation. This Agreement is subject to the required regulatory approvals
and  the   appropriate   information  of  and/or   consultation   with  employee
representatives.

Section 7.2   Conditions to Obligations of Silgan to Effect the Closing.
              ---------------------------------------------------------

The  obligation  of  Silgan  to  effect  the  Closing  shall be  subject  to the
satisfaction on the Closing Date of each of the following conditions:

(a) Representations and Warranties. All of the representations and warranties of
the Selling  Parties set forth in this Agreement  shall be true and correct when
made and on and as of the Closing Date or if made as of a specified  date,  only
as of such  date,  except  where the  failure to be true and  correct  would not
reasonably be expected to have a Material Adverse Effect.

(b) Breach by the Selling Parties. No Selling Party shall have failed to perform
any  obligation  or to comply with any  covenant or agreement to be performed or
complied with by it under this Agreement, except where the failure to perform or
comply would not reasonably be expected to have a Material Adverse Effect.

(c) Deliveries by Selling  Parties.  The Selling Parties shall have delivered to
Silgan those items required by Section 3.2.

(d) German  Lease.  The Business  shall have the legal right to operate as it is
currently  conducted and conducted as of the Closing Date on the site located at
Hansastrasse   4,  D-30419,   Hannover,   Germany,   on  terms  and   conditions
substantially  similar to the terms and conditions of occupancy

                                       72
<PAGE>

set forth in the Lease  Agreement,  dated  December  16, 1987,  between  LAMELLA
Grundstucks-Vermietungsgesellschaft  mbH, Dusseldorf,  and Schmalbach-Lubeca AG,
Braunschweig  (the  "Current  German  Lease")  for a period of at least ten (10)
years from the date hereof and an option to  purchase  the  property  located at
Hansastrasse 4, D-30419,  Hannover,  Germany (at the end of the term of such ten
(10) year period) at fair market value (the "New German Lease").

(e)  Material  Adverse  Effect.  During the period  from the date  hereof to the
Closing  Date,  there shall not have occurred any change,  development  or event
that would reasonably be expected to have a Material Adverse Effect.

(f) Newco Italy  Contribution.  Amcor Italy shall have  effected the Newco Italy
Contribution pursuant to Section 6.25.

(g)  Audited  Financial  Statements.  No later  than  twenty  (20) days prior to
Closing, Silgan shall have received the Audited Financial Statements.

(h)  Counterpart  Agreements.  Amcor  Australia  shall have  caused  each of the
Selling  Parties  to  deliver  to Silgan  duly  executed  counter-parts  to this
Agreement.

Section 7.3   Conditions to Obligations of the Selling Parties to Effect the
              --------------------------------------------------------------
              Closing.
              -------

The obligation of the Selling  Parties to effect the Closing shall be subject to
the satisfaction on the Closing Date of each of the following conditions:

(a) Representations and Warranties. All of the representations and warranties of
Silgan set forth in this  Agreement  shall be true and  correct in all  material
respects  when made and on and as of the Closing  Date if made as of a specified
date,  only as of such date,  except  where the  failure to be true and  correct
would not reasonably be expected to have a material  adverse effect on Silgan or
the  Purchasers,  taken  as a whole,  or on  their  ability  to  consummate  the
Transactions.

(b) Breach by Silgan.  Silgan shall not have failed to perform any obligation or
to comply with any covenant or agreement to be performed or complied  with by it
under this  Agreement,  except  where the failure to perform or comply would not
reasonably  be  expected  to have a  material  adverse  effect  on Silgan or the
Purchasers,   taken  as  a  whole,   or  on  their  ability  to  consummate  the
Transactions.

(c)  Deliveries by Silgan.  Silgan shall have  delivered to the Selling  Parties
those items required by Section 3.3.

                                  ARTICLE VIII
                                   TERMINATION

Section 8.1   Termination.
              -----------

This Agreement may be terminated at any time prior to the Closing Date:

(a) by the mutual written consent of Silgan and the Selling Parties;

                                       73
<PAGE>

(b) by Silgan or the Selling Parties if any Governmental  Entity issues an order
or takes any other action  (which  order or other  action the Parties  shall use
their  commercially  reasonable  efforts  to lift) that  permanently  restrains,
enjoins or otherwise  prohibits the  consummation of the  Transactions  and such
order or other action shall have become final and non-appealable;

(c) by either Silgan or the Selling  Parties if the Closing does not occur on or
prior to July  31,  2006,  and such  Party  is not in  material  breach  of this
Agreement at the time such Party terminates this Agreement;

(d) by the  Selling  Parties  if  Silgan  breaches  any of its  representations,
warranties, covenants or other agreements contained in this Agreement that would
give rise to the failure of a condition  set forth in Article VII,  which breach
cannot be or has not been  cured  within  thirty  (30) days  after the giving of
written notice by the Selling Parties to Silgan specifying such breach;

(e)  by  Silgan  if  a  Selling  Party  breaches  any  of  its  representations,
warranties, covenants or other agreements contained in this Agreement that would
give rise to the failure of a condition  set forth in Article VII,  which breach
cannot be or has not been  cured  within  thirty  (30) days  after the giving of
written notice by Silgan to the Selling Parties specifying such breach; or

(f) by Silgan pursuant to Section 6.17.

Section 8.2   Effect of Termination.
              ---------------------

If this Agreement is terminated by any Party pursuant to the terms hereof,  this
Agreement shall forthwith terminate and have no further force and effect, except
that (a) the covenants and  agreements  set forth in Section 6.4,  Section 6.14,
this Section 8.2 and Section 11.1 shall  survive such  termination  indefinitely
and (b)  nothing in this  Section  8.2 shall be deemed to release any Party from
any liability for any breach by such Party of the terms of this  Agreement or to
impair the right of any Party to compel specific performance by another Party of
its  obligations  under this  Agreement  which have arisen  prior to the date of
termination of this Agreement.

                                   ARTICLE IX
                                   TAX MATTERS

Section 9.1   Taxes of the Acquired Companies.
              -------------------------------

(a) Tax  Returns.  The  Selling  Parties  shall  prepare  all Tax Returns of the
Acquired  Companies for all taxable  periods that end on or prior to the Closing
Date. The Selling  Parties shall deliver to Silgan any such Tax Returns that are
required to be filed after the Closing Date no later than five (5) days prior to
the due dates thereof  (taking into account any  extensions) and Silgan promptly
shall file,  in no case later than the  applicable  due dates,  such Tax Returns
with the applicable  taxing  authorities.  Silgan shall prepare,  or cause to be
prepared,  and shall  file,  or cause to be filed,  all other Tax Returns of the
Acquired Companies.

(b) Selling Parties'  Obligations.  The Selling Parties,  jointly and severally,
shall be  responsible  for and timely pay and shall  indemnify and hold harmless
Silgan,  the  Purchasers  and the Acquired  Companies  with respect to,  without
duplication,  (i) any and all Taxes  imposed on the

                                       74
<PAGE>

Acquired Companies, or for which the Acquired Companies are liable, with respect
to any periods  ending on or before the Closing  Date,  other than Taxes imposed
with  respect to the  Closing  Date,  or to the extent  apportioned  pursuant to
Section  9.1(d),  (ii) all Taxes with respect to any period  ending on or before
the Closing Date arising out of a breach of the  representations  and warranties
or covenants  contained in Section 4.18,  (iii) any and all Taxes resulting from
any  transactions  of the Acquired  Companies  occurring on or after the Closing
Time but before  the  occurrence  of the  Closing  that are not in the  ordinary
course of business,  and (iv) any  reasonable  costs or expenses with respect to
Taxes indemnified hereunder. The Selling Parties shall be entitled to any refund
of any and all Taxes that are the Selling  Parties'  responsibility  pursuant to
the immediately preceding sentence. Any indemnity payment required to be made by
the Selling Parties  pursuant to this Section 9.1(b) shall be made within thirty
(30) days of written notice from Silgan. Notwithstanding anything else herein to
the contrary,  the Selling Parties shall be solely responsible for all income or
capital  gain Taxes with  respect  to the sale of the  Purchased  Assets and the
Purchased Equity to the Purchasers pursuant to this Agreement.

(c) Silgan's Obligations.

     (i)  Except as  otherwise  provided  in  Section  9.1(b),  on and after the
Closing Date,  Silgan, the Purchasers and the Acquired Companies shall be solely
responsible  for the payment or discharge  of all Taxes  imposed on the Acquired
Companies  for (A) all  periods  ending  after the Closing  Date,  and any Taxes
imposed  with  respect  to the  Closing  Date,  including  all Taxes  related to
deferred Tax liabilities of the Acquired Companies to the extent they would have
been  required to have been  included on a balance  sheet of the Business  under
IFRS  consistently  applied and (B) any costs or expenses  with respect to Taxes
indemnified  hereunder.  Silgan  shall  indemnify,  defend and hold the  Selling
Parties and their Affiliates  harmless from, and shall be entitled to any refund
of,  any and all  Taxes  that  are  Silgan's,  the  Acquired  Companies'  or the
Purchasers' responsibility pursuant to the immediately preceding sentence.

     (ii)  Silgan  agrees not to take any action  that  would  increase  the Tax
liability of Amcor International as a result of Amcor Venezuela being classified
as a "controlled  foreign  corporation"  for U.S.  federal  income tax purposes,
including  any  transaction  outside the ordinary  course of business that would
result in additional  inclusions of subpart F income by Amcor  International for
the taxable year that includes the Closing  Date, or causing Amcor  Venezuela to
make a distribution  to Silgan in such taxable year.  Silgan agrees to indemnify
Amcor International for any Taxes or costs or expenses relating to such Taxes as
a result of any breach of this Section 9.2(c)(ii).

     (iii) Any indemnity  payment required to be made by Silgan pursuant to this
Section  9.1(c) shall be made within thirty (30) days of written notice from the
Selling Parties.

(d) Apportionment.  For the sole purpose of appropriately apportioning any Taxes
relating to a period that includes (but that would not end prior to) the Closing
Date, if the Selling  Parties so request and applicable  Law so permits,  Silgan
will elect with the relevant taxing  authority to treat for all purposes the day
preceding  the Closing Date as the last day of a taxable  period of the Acquired
Companies.  In the  case  where  applicable  Law does not  permit  the  Acquired
Companies  to treat  the day  preceding  the  Closing  Date as the last day of a
taxable  period,  or the Selling Parties do not request that such an election be
made,  then for  purposes  of this  Agreement,

                                       75
<PAGE>

the portion of such Tax that is attributable  to the Acquired  Companies for the
part of such  taxable  period that ends on the day  preceding  the Closing  Date
shall be (i) in the case of a Tax that is not  based on net  income,  the  total
amount of such Tax for the full taxable period up to the Closing Date multiplied
by a fraction,  the  numerator of which is the number of days from the beginning
of such taxable  period up to the Closing Date and the  denominator  of which is
the total number of days in such full taxable period,  and (ii) in the case of a
Tax that is based on net income,  the Tax that would be due with respect to such
partial period, if such partial period were a full taxable period,  apportioning
income,  gain,  expenses,  loss,  deductions and credits  equitably  based on an
interim  closing of the books.  The  benefits  of lower tax  brackets  and other
similar  benefits  shall  be  apportioned  in  making  the  calculation  of such
allocated  portions  on the  basis of the  number  of days in  Silgan's  and the
Selling  Parties'  holding periods for the taxable period  beginning  before and
ending after the Closing Date.

Section 9.2   Contests.
              --------

For purposes of this Agreement,  a "Contest" is any audit,  court  proceeding or
other  dispute  with  respect  to any  Tax  matter  that  affects  the  Acquired
Companies. Unless Silgan previously has received written notice from the Selling
Parties of the  existence of such Contest,  Silgan shall give written  notice to
the Selling  Parties of the  existence  of any Contest  relating to a Tax matter
that is the Selling Parties' responsibility under Section 9.1(b) within ten (10)
Business Days from the receipt by Silgan of any written  notice of such Contest.
Unless the Selling Parties  previously have received  written notice from Silgan
of the existence of such Contest,  the Selling Parties shall give written notice
to Silgan of the  existence of any Contest for which  Silgan has  responsibility
within ten (10)  Business  Days from the receipt by the  Selling  Parties of any
written  notice  of such  Contest.  Silgan,  on the one  hand,  and the  Selling
Parties,  on the other,  agree,  in each case at no cost to the other Party,  to
cooperate with the other and the other's  representatives in a prompt and timely
manner in connection with any Contest.  Such cooperation shall include,  but not
be limited to,  making  available to the other  Party,  during  normal  business
hours,  all  books,  records,  returns,   documents,  files,  other  information
(including  working  papers  and  Schedules),  officers  or  employees  (without
substantial  interruption of employment) or other relevant information necessary
or useful in connection with any Contest  requiring any such books,  records and
files. The Selling Parties shall, at their election, have the right to represent
the  Acquired  Companies'  interests  in any  Contest  relating  to a Tax matter
arising in a period ending on or before the Closing  Date, to employ  counsel of
their choice and to control the conduct of such Contest, including settlement or
other disposition thereof;  provided,  however, that Silgan, at its own expense,
shall have the right to consult  with the  Selling  Parties  regarding  any such
Contest that may affect the Acquired  Companies for any periods ending after the
Closing Date.  Silgan shall have the right to control the conduct of any Contest
with  respect to any Tax matter  arising in a period  ending  after the  Closing
Date; provided,  however, that the Selling Parties, at their own expense,  shall
have the right to consult with Silgan regarding any such Contest that may affect
the Acquired Companies for any periods ending on or before the Closing Date; and
provided  further that any  settlement or other  disposition of any such Contest
may only be with the consent of the Selling Parties,  which consent shall not be
unreasonably  withheld,  conditioned or delayed;  and provided  further that any
settlement  or other  disposition  of any such  Contest  that  affects  both the
Selling Parties and the Purchaser (i.e., affects taxable periods both before and
after the Closing Date) may only be with the consent of both Parties.

                                       76
<PAGE>

Section 9.3   Price Adjustment.
              ----------------

All amounts paid pursuant to this Agreement by one Party to another Party (other
than interest payments) shall be treated by such Parties as an adjustment to the
Purchase Price, to the extent permitted by Law.

Section 9.4   Exclusive Remedy.
              ----------------

In the event of any conflict  between the  provisions of this Article IX and any
other  provisions of this Agreement,  this Article IX shall prevail with respect
to any claim for indemnification for Taxes.

                                   ARTICLE X
                              SURVIVAL AND REMEDIES

Section 10.1  Survival.
              --------

Subject  to  Section  10.9,  the  representations,   warranties,  covenants  and
agreements contained in this Agreement shall survive the Closing.

Section 10.2  Indemnification by Selling Parties.
              ----------------------------------

Subject to the other provisions of this Article X, the Selling Parties,  jointly
and  severally,  shall  indemnify  and  hold  harmless  and  defend  any  Silgan
Indemnitee from and against any and all Losses without  duplication  suffered or
incurred by any Silgan  Indemnitee after the Closing as a result of, arising out
of, relating to or in connection with:

(a) any breach by the Selling Parties, or any inaccuracy,  of any representation
or warranty of the Selling Parties  contained in this Agreement or any Ancillary
Agreement  (except for Section  4.15 for which any breach is governed by Section
10.3);  provided that for purposes of this Section 10.2(a),  the representations
and  warranties in Sections 4.4, 4.16 and 4.20(h)  subject to  "materiality"  or
"Material  Adverse  Effect"  qualifiers  shall be read as if made  without  such
"materiality" or "Material Adverse Effect" qualifiers;

(b) the failure by a Selling  Party to perform any covenant or agreement of such
Selling Party under this Agreement or any Ancillary Agreement;

(c) any Excluded Liabilities;

(d) any default  described in Schedule  4.12(b) under (A) the Cerebos  Agreement
and (B) the supply agreement with Bledina dated May 15, 2003;

(e)  except for  liabilities  for Rework  and  Refunds  covered by Section  6.23
hereof, any product,  part,  component or other item manufactured by the Subject
Companies prior to the Closing Date;

(f)  notwithstanding  any other provision of this Agreement,  including  Section
10.7(c) hereof, or whether such liability or obligation is an Excluded Liability
or an Acquired Company Excluded Liability,  any liability or obligation (whether
known or  unknown,  absolute,  accrued,  contingent

                                       77
<PAGE>

or  otherwise  and  whether  contractual,  tort or any other type of  liability,
obligation  or claim)  relating to or arising from any facility that any Subject
Company or Selling Party or their present or former  subsidiaries  or respective
predecessors in interest may have owned,  leased,  operated or otherwise used at
any time that is not  included  in the Real  Property  or the  operation  of any
business other than the Business at any of the Real Property, including any such
liabilities  or  obligations  resulting  from  the  generation,  use,  handling,
presence,  treatment,  storage,  transportation,  disposal  or  Release  of  any
Hazardous  Materials  at any  such  facility  or any  violations  of  applicable
Environmental Laws on, prior to or after the Closing Date;

(g) any Acquired Company Excluded Liabilities;

(h) any  Taxes  due as a result of the fact  that the  interest  payable  on the
Indebtedness of the Acquired Companies outstanding as of the Closing Date is not
tax deductible in the applicable  jurisdiction because of inadequate  historical
documentation  or the  applicability of thin  capitalization  rules prior to the
Closing;

(i) the  obligations  of Amcor  Deutschland  as a  result  of,  arising  out of,
relating to or in connection  with the Cerebos  Agreement (i) until such time as
the  purchase  and sale of Amcor  South  East  Asia,  Amcor  Investments,  Amcor
Properties  and Amcor  Asia  Pacific is  consummated  pursuant  to  Section  3.4
(whether or not the  business  of such  Specified  Interest is being  managed by
Silgan or any of its  Affiliates  or the  applicable  Selling  Party) or (ii) in
perpetuity in the event the Specified  Approval for the sale of Amcor South East
Asia, Amcor Investments, Amcor Properties and Amcor Asia Pacific is not obtained
and the Parties do not close the purchase and sale of such  Specified  Interests
in accordance with this Section 3.4;

(j) the disposal of any  asbestos-containing  materials stored at Closing on the
grounds of the Amcor  Venezuela  manufacturing  plant located in Valencua - Edo.
Carabobo, Venezuela;

(k) (A) any debt arising under United Kingdom  legislation  due to the operation
of  section  75 or  section  75A of the  Pensions  Act 1995  giving  rise to any
relevant  demand or costs,  (B) any Losses to contribute  or to provide  support
which are levied,  imposed or incurred  pursuant to United  Kingdom  legislation
under sections 38 to 51 of the Pensions Act 2004 and (C) any funding  deficit in
excess of (euro)720,000 that is attributable to any Seller Benefit Plan designed
to benefit the individual set forth on Schedule 10.2(k);

(l) [intentionally omitted];

(m) the Brazil  Litigation,  including the loss of any management fees under the
applicable Specified Interest Management Agreement; and

(n) any and all actions, suits,  proceedings,  claims or demands incident to any
of the foregoing or initiated to enforce the indemnification provisions herein.

Section 10.3  Environmental Health and Safety Indemnity.
              -----------------------------------------

(a) Subject to the terms and conditions set forth in this Section 10.3, from and
after the Closing,  the Selling  Parties shall  indemnify and hold harmless each
Silgan  Indemnitee from and against all Losses  asserted  against or incurred by
such  Silgan  Indemnitee  as a result  of,  arising  out of,

                                       78
<PAGE>

relating to or in connection  with any one or more of the following,  whether or
not disclosed at or before the time of Closing:

     (i)  any  Environmental  Claims  and  the  investigation,   remediation  or
correction of Environmental  Conditions caused by, relating to or arising out of
(1) any  conditions  prior  to the  Closing  Date  at  properties  currently  or
previously owned,  leased or operated by any Selling Party, any Subject Company,
their present or former subsidiaries or respective predecessors in interest, (2)
the  operations  prior to the  Closing  Date of any Selling  Party,  any Subject
Company,  their present or former  subsidiaries  or respective  predecessors  in
interest,  including arising out of the disposal,  Release or threatened Release
of any Hazardous Substance owned,  controlled or possessed by any Selling Party,
any  Subject  Company,  their  present  or  former  subsidiaries  or  respective
predecessors in interest, and (3) the Excluded Assets,  Excluded Liabilities and
Acquired Company Excluded Liabilities;

     (ii) any failure of the Subject Companies to comply with Environmental Laws
prior to the  Closing,  including  the  installation  of any  pollution  control
equipment  or other  equipment  to  bring  the  Business  into  compliance  with
Environmental Law if such equipment is installed because the Business was not in
compliance with any Environmental Laws as of the Closing Date;

     (iii) any  liability,  obligation,  or legal  responsibility  arising under
Environmental  Laws  assumed by any Subject  Company  prior to the Closing  Date
pursuant to the terms of any  Contract,  settlement or other written and legally
binding arrangement between such Subject Company and any other Person; and

     (iv) any breach of a  representation  and  warranty set out in Section 4.15
hereof when made or as of the Closing as though such representation and warranty
was made at and as of Closing.

(b) Notwithstanding anything herein, in the Law or otherwise to the contrary, no
claim or cause of action with  respect to the  operation  of the Business at the
Real Property,  including any Release of any Hazardous  Substances in connection
therewith,  may be brought by any Silgan Indemnitee  against the Selling Parties
under this Section 10.3 after the fifth (5th)  anniversary  of the Closing Date.
All other claims arising under this Section 10.3 may be brought in perpetuity.

(c) The Selling  Parties will, at their  option,  fully satisfy their  indemnity
obligations with respect to any claim under this Section 10.3 other than a Third
Party Claim,  either by  compensating  the Silgan  Indemnitees  for the Loss or,
after the Selling Parties  acknowledge  their  obligation to fully indemnify the
Silgan Indemnitees,  by remediating the breach that is the subject of such claim
for indemnification.  If the Selling Parties do not acknowledge their obligation
to fully  indemnify the Silgan  Indemnitees  pursuant  hereto within thirty (30)
days or such shorter period as required by any applicable  Governmental  Entity,
then  Silgan  shall  remediate  the breach that is the subject of such claim for
indemnification  and the Selling Parties shall compensate the Silgan Indemnitees
pursuant to their obligations set forth in this Section 10.3.

(d) Except as otherwise  required by any  Governmental  Entity or by  applicable
Law, in no event shall Losses include  liabilities,  damages,  costs or expenses
associated  with  remediation  or

                                       79
<PAGE>

cleanup to levels or standards applicable to other than industrial property use,
except for such portion of a facility  currently  used for  commercial  purposes
(e.g., office or rent), in which case remediation to cleanup levels or standards
applicable to commercial use for the portion of the facility used for commercial
purposes shall be appropriate.

(e) The Selling  Parties shall be obligated to remediate any breach with respect
to a claim under this Section 10.3 subject to the  satisfaction of the following
conditions:

     (i) on becoming aware of any fact or circumstance  that could reasonably be
expected to give rise to a claim under this Section 10.3, the Silgan Indemnitees
shall give written notice thereof to the Selling Parties;

     (ii) the Silgan Indemnitees shall arrange for the Selling Parties and their
authorized  employees,  agents,  representatives,  consultants,  contractors and
subcontractors to have all necessary or desirable rights to enter the applicable
Real Property to remediate such breach  pursuant to Section 10.3(c) above and on
terms  satisfactory to the Silgan  Indemnitees and the Selling  Parties,  acting
reasonably. The Selling Parties shall consult with the Silgan Indemnitees in all
material aspects of remediation. The Selling Parties shall undertake remediation
in a prompt and  expeditious  fashion in accordance  with  applicable  Laws. Any
remediation  to be carried  out by the Selling  Parties  shall be set forth in a
work  plan  and  be  subject  to  the  prior  written  approval  of  the  Silgan
Indemnitees,  acting reasonably. The Selling Parties shall provide copies to the
Silgan Indemnitees of all written notices, final submissions,  final work plans,
and final reports and shall give the Silgan Indemnitees a reasonable opportunity
(at the Silgan  Indemnitees  own  expense)  to comment  on any  submissions  the
Selling  Parties  intend to  deliver or submit to the  appropriate  Governmental
Entity prior to said submission; and

     (iii) the Selling  Parties  performance of any remedial  action pursuant to
this Section  10.3 shall be deemed  complete (A) upon receipt of notice from the
relevant  Governmental Entity that no further action is required to be conducted
(a  "Governmental  Sign-Off") or (B) where  allowed by applicable  Environmental
Law,  a  certification  from  a  licensed  environmental   professional  or  its
equivalent  that no further action is necessary under  applicable  Environmental
Laws  (unless   within  the  time  specified  by  applicable  Law  the  relevant
Governmental  Entity  determines that further action is required);  or (C) if no
Government Entity has asserted jurisdiction or for any other reason Governmental
Sign-Off  is  not  obtainable,   when  the  Silgan  Indemnitees'   environmental
consultant  (acceptable to the Selling Parties,  acting  reasonably) agrees that
remedial action has been completed in accordance with applicable  standards.  In
the event that Silgan Indemnitees'  environmental consultant does not agree with
the  Selling  Parties'  environmental  consultant  as to the  completion  of the
remedial  action,  the Silgan  Indemnitees  and the Selling Parties (both acting
reasonably) shall jointly retain an environmental consultant (acceptable to both
Parties) to determine  whether the remedial  action has been  completed  and the
decision of that  environmental  consultant  shall be accepted by the Parties as
final.

(f)  With  respect  to  any  notice,  approval,   disclosure,   letter,  action,
remediation,  clean-up or study required under any Environmental Law as a direct
result of the transaction  contemplated  by this Agreement,  the Selling Parties
hereby agree,  to the extent such  Environmental  Law imposes such obligation on
the Selling  Parties,  to take reasonable  commercial  efforts to provide and/or
obtain,

                                       80
<PAGE>

in accordance with  applicable  Environmental  Law and in a timely manner,  such
notice,  approval,  disclosure,  letter or other  communication and undertake to
carry out in a timely  manner such  action,  remediation,  clean-up or study and
provide  Silgan  in a  timely  manner  with a copy  of  such  notice,  approval,
disclosure, letter or other communication or proof of completion of such action,
remediation, clean-up and/or study.

(g)  Notwithstanding  anything  herein to the  contrary,  in no event  shall the
rights of the  Silgan  Indemnitees  under  this  Section  10.3 be limited by any
knowledge  of the  Silgan  Indemnitees  or any  disclosure  made by the  Selling
Parties.

(h) For the avoidance of doubt, the Deductible Amount, De Minimis Amount and the
Cap Amount shall not apply to claims pursuant to this Section 10.3.

Section 10.4  [Intentionally Omitted].
              -----------------------

Section 10.5  Indemnification by Silgan.
              -------------------------

Subject to the other  provisions  of this  Article X and in  addition to Section
2.3(a), Silgan shall indemnify and hold harmless the relevant Selling Party from
and against any Losses without duplication  suffered or incurred by such Selling
Party  after the  Closing  as a result of,  arising  out of,  relating  to or in
connection with:

(a) any breach by Silgan, or any inaccuracy,  of any  representation or warranty
of Silgan contained in this Agreement or any Ancillary Agreement;

(b) the failure by Silgan or the Purchasers to perform any covenant or agreement
of Silgan or the Purchasers under this Agreement or any Ancillary Agreement;

(c) any liability or obligation  of or related to the Acquired  Companies  other
than the Acquired Company Excluded Liabilities;

(d) the Assumed Liabilities;

(e) (i) any claim by or on  behalf of the  Employees  of the  Subject  Companies
arising from their employment with or termination by Silgan, any Purchaser or an
Acquired Company after Closing or (ii) any claim for  constructive  dismissal or
otherwise  arising  directly  or  indirectly  from  any  measures  Silgan,   any
Purchasers or any Acquired Company may take on or after Closing; and

(f) any liability or obligation under a guarantee described on Schedule 6.18.

Section 10.6  Method of Asserting Claims.
              --------------------------

All claims for  indemnification  and any claim for a breach of a  representation
and  warranty  by Silgan or the  Selling  Parties,  except a claim  pursuant  to
Section 10.3 which the Selling Parties propose to satisfy by remediation,  shall
be asserted and resolved as follows:

(a) Third  Party  Claims.  If any claim or demand in respect of which any Silgan
Indemnitee or the Selling  Parties might seek indemnity  under this Article X is
asserted  against  the  Damaged  Party

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<PAGE>

by a Person other than a Party (a "Third Party Claim")  prior to the  expiration
of the applicable  survival period,  the Damaged Party shall give written notice
and the details thereof  including an estimate of the claimed Losses,  copies of
all relevant  pleadings,  documents and  information  to the  Responsible  Party
within thirty (30) days following the assertion of the Third Party Claim against
the Damaged Party (to the extent available at such date); provided that no delay
on the part of the Responsible  Party in notifying the  Responsible  Party shall
relieve  the  Responsible  Party  from any  obligation  hereunder  except if the
Responsible Party is materially  prejudiced thereby. The Responsible Party shall
have the sole  right to defend  and/or  settle  such  Third  Party  Claim by all
appropriate  proceedings,  which  proceedings  will  be  prosecuted  to a  final
conclusion or will be settled at the sole discretion of the Responsible Party as
long as the  Responsible  Party  agrees in  writing  that the  Damaged  Party is
entitled to indemnification by the Responsible Party for such action;  provided,
however,  that the  Responsible  Party shall not enter into any settlement  that
imposes  injunctive or other equitable  relief against the Damaged Party or does
not fully and  finally  release  the Damaged  Party from all  liability,  unless
consented  to by the Damaged  Party,  which  consent  shall not be  unreasonably
withheld,  delayed or  conditioned.  The Damaged Party shall  cooperate fully in
such defense,  including by making available to the Responsible Party all books,
records,  documents and personnel  within the Damaged Party's control or that it
can reasonably  obtain relating to the Third Party Claim.  The Damaged Party, at
its expense,  may participate in, but not control,  any defense or settlement of
any Third  Party  Claim  conducted  by the  Responsible  Party  pursuant to this
Section 10.6(a), provided,  however, that if the Responsible Party elects not to
defend a Third Party  Claim,  the  Damaged  Party shall have the right to defend
and/or  settle  such Third Party  Claim  provided  that it acts in good faith in
connection therewith.  Notwithstanding  anything to the contrary, if there is an
accrual on Schedule  1.1(B) for any Third Party Claim to which any of the Silgan
Indemnitees  is seeking  indemnification  pursuant  to this  Article X, then the
applicable  Silgan  Indemnitee shall have the sole right to defend and/or settle
such Third Party Claim, provided that it shall not settle such Third Party Claim
in an amount  in  excess  of such  accrual  without  the  prior  consent  of the
applicable  Selling  Party,  not to be  unreasonably  withheld,  conditioned  or
delayed.

(b) Other Claims.  If any Damaged Party should have a claim under this Article X
against a  Responsible  Party that does not  involve a Third  Party  Claim,  the
Damaged Party shall  promptly give written  notice (the "Claim  Notice") and the
details  thereof,  including  an estimate of the claimed  Losses,  copies of all
relevant  documents and information to the Responsible  Party within a period of
thirty (30) days following the discovery of the claim by the Damaged Party.  The
Responsible  Party shall notify the Damaged Party within a period of twenty (20)
days after the receipt of the Claim Notice by the Responsible  Party whether the
Responsible  Party  disputes its  liability to the Damaged Party with respect to
such claim and if the Responsible Party fails to timely notify the Damaged Party
that it  disputes  its  liability,  it  shall be  deemed  to have  disputed  its
obligation to indemnify the Damaged Party.  All claims  pursuant to this Section
10.6(b)  shall be paid within ten (10) days after such twenty (20) day period if
the Responsible Party  acknowledges its liability with respect thereto and shall
otherwise be paid within ten (10) days after a final resolution of such claim.

Section 10.7  Limitations on Damages.
              ----------------------

Subject to the express  exceptions and provisions herein set forth, no amount of
damages  shall be  payable  by a  Selling  Party in the case of (a) a breach  of
representation  and warranty claim by a

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<PAGE>

Silgan Indemnitee under Section 10.2(a),  (b) a claim for indemnification  under
Section  10.2(d)(B) or (c) a breach of  representation  and warranty  claim by a
Selling Party under Section  10.5(a),  in each case unless and until the Damaged
Party has  suffered or  incurred  Losses,  including  (in the case of any Silgan
Indemnitee)  any  Losses  suffered  or  incurred  by any Silgan  Indemnitee  and
required to be borne by the Silgan  Indemnitee  rather than  indemnified  by the
Selling Parties pursuant to Section 10.7(c) hereof, aggregating in excess of one
percent (1%) of the Purchase  Price (the  "Deductible  Amount"),  whereupon such
Damaged Party shall be entitled to claim  damages  starting from one-half of the
Deductible Amount and up to the full amount of the Losses.  Notwithstanding  the
foregoing,  (x) in no event shall the  aggregate  amount  payable by the Selling
Parties,  on the one hand,  or  Silgan,  on the other  hand,  exceed  25% of the
Purchase Price (the "Cap  Amount"),  and (y) no Damaged Party shall make a claim
unless  such  claim  together  with  all  related  claims  individually  exceeds
(euro)100,000  (the "De Minimis Amount"),  whereupon such Damaged Party shall be
entitled to claim  damages  starting from the first Euro of damages not just the
amount in excess of the De Minimis Amount.  Any claim not meeting the De Minimis
Amount but exceeding  (euro)25,000  shall  nevertheless  be applied  against the
Deductible  Amount  and shall  reduce the  Deductible  Amount on a Euro for Euro
basis.  Any claim for  indemnification  paid pursuant to this Article X shall be
paid in the applicable currency in which the claim is paid.

Notwithstanding the foregoing:

(a)  there  shall  be  no  Deductible   Amount  in  the  case  of  a  breach  of
representation  and warranty claim by any Silgan Indemnitee  pursuant to Section
4.2, Section 4.5(a), Section 4.6 and Section 4.18;

(b) in the event of one or more claims by any Silgan  Indemnitee  resulting from
one or  more  breaches  by  the  Selling  Parties  of  the  representations  and
warranties  pursuant to Section  4.2,  Section  4.5(a) and Section  4.6, the Cap
Amount shall not apply to such claims;  provided,  however,  that the  aggregate
liability  of the  Selling  Parties  as a  consequence  of all such  breach(es),
together with any other  liability of the Selling  Parties under this  Agreement
(other  than  pursuant to Section  10.2(f),  Section  10.2(m)  and Section  10.3
(except as it relates to the  operation  of the  Business at the Real  Property,
including any Release of any Hazardous Substances in connection therewith) shall
not exceed the Purchase Price;

(c) in the case of a claim for indemnification under Section 10.3 solely as such
indemnification  relates to the operation of the Business at the Real  Property,
including any Release of any Hazardous Substances in connection  therewith,  the
Selling  Parties shall have no obligation to indemnify any Silgan  Indemnitee in
the event and to the extent any  Silgan  Indemnitee  has  suffered  or  incurred
Losses in excess of  (euro)5.0  million  (it being  understood  that the Selling
Parties shall be responsible  for  indemnifying  the Silgan  Indemnitees for any
Loss  suffered  or  incurred up to  (euro)5.0  million)  until such time as said
Losses exceed  (euro)7.5  million  whereupon the Selling  Parties will indemnify
such  Silgan  Indemnitee  for such  Losses in excess of  (euro)7.5  million  but
subject  to the  limit set  forth in the  proviso  in  subparagraph  (b)  above;
provided,  that,  notwithstanding  anything to the contrary herein,  none of the
Silgan  Indemnitees  shall  have any  liability  or  obligation  for any  Losses
relating to, arising out of or in connection with the asbestos  materials stored
on the grounds of the Amcor Venezuela  manufacturing plant located in Valencua -
Edo. Carabobo, Venezuela as of the date hereof; and

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<PAGE>

(d) to the extent of the amount for the  applicable  item set forth on  Schedule
1.1(B),  the Parties  acknowledge and agree that the Selling Parties will not be
in breach of any  representation  or warranty  hereunder if the  liabilities and
obligations  in connection  with such breach fall within one of the items listed
on Schedule 1.1(B) and would be included,  under Amcor's Financial  Controls and
Procedures  consistently applied, in the account codes of the Business set forth
next to such item,  in any case in the aggregate for all such breaches up to the
amount  for such item set forth on  Schedule  1.1(B),  it being  understood  and
agreed that (i) liabilities for "Product Warranties" and "Product Warranties w/o
Legal  Obligation"  are not covered by this  paragraph  and shall be governed by
Section 6.23, (ii)  liabilities  and obligations  relating to matters covered by
Section  10.2(f) or 10.3 are not covered by this  paragraph  and are governed by
Section 10.2(f) or 10.3, and (iii) liabilities and obligations covered under any
other Section of this Agreement (other than under Article 4 and Section 10.2(a))
are not covered by this  paragraph and are governed by such other  Section.  For
the avoidance of doubt,  notwithstanding anything to the contrary, the amount in
Schedule  1.1(B) for a particular  item will only be applied once,  and not on a
duplicative  basis,  in  respect  of  relevant  liabilities  to which  such item
relates.

Section 10.8  Exclusive Remedies.
              ------------------

The sole and exclusive remedies for any Party with respect to any claim relating
to this Agreement,  the Ancillary  Agreements or the  Transactions and the facts
and circumstances relating and pertaining hereto and thereto shall be limited to
the express  provisions of this Agreement  (whether any such claim shall be made
in contract, tort or otherwise,  including under any applicable securities Laws)
(other  than a claim for  fraud).  No breach  of any  representation,  warranty,
covenant or agreement  contained herein shall give rise to any right on the part
of the Selling Parties or Silgan,  after the Closing,  to rescind this Agreement
or any of the  Transactions.  Each  Party  shall  take all  reasonable  steps to
mitigate  its  Losses  upon and after  becoming  aware of any event  that  could
reasonably be expected to give rise to any Losses. No Party shall have any right
to setoff  against any  payments to be made by it pursuant to this  Agreement or
otherwise.

Section 10.9  Time Limits on Claims.
              ---------------------

Except as herein expressly  provided to the contrary,  no claim shall be brought
for a breach of  representation  and warranty under Section  10.2(a) and Section
10.5(a) more than two (2) years following the Closing Date.  Notwithstanding the
foregoing or any other provision of this Agreement:

(a) Any claim for a breach of any of the  representations and warranties made in
Section  4.2,  Section  4.5(a)  or  Section  4.6 may be  brought  at any time in
perpetuity;

(b) Any claim for a breach of any of the  representations and warranties made in
the  second  sentence  of  Section   4.11(a)(i),   Section  4.11(c)  or  Section
4.19(b)(iii)  may be  brought  at any time  until the fifth  anniversary  of the
Closing Date; and

(c) Any claim for a breach of the  representation  and warranty  made in Section
4.18 or Article IX may be brought at any time until  ninety  (90) days after the
underlying  obligation is barred by the applicable  statute of limitation  under
applicable Laws.

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<PAGE>

Any claim not made within the  foregoing  relevant time periods shall expire and
be forever  barred;  provided  that the time limits on claims  relating to Amcor
Brazil if it is a Specified  Interest  pursuant to Section 3.4 shall be extended
by the time  period  from the  Closing  Date  until  the date of the  applicable
delayed  closing for Amcor Brazil,  but in no event shall such extension  exceed
eighteen (18) months, in the event there is a delayed closing for such Specified
Interest as set forth in Section 3.4.

Section 10.10  Tax Effect and Insurance.
               ------------------------

The liability of the Responsible Party with respect to any Loss shall be reduced
by (a) any actual Tax benefit of such Loss  accruing to the Damaged Party in the
year of such Loss and,  solely for any Loss from a claim under this Article X in
excess of  (euro)200,000 by any Tax benefit of such Loss accruing to the Damaged
Party  within  three years after such Loss,  and (b) by any  insurance  proceeds
received  by the Damaged  Party as a result of such Loss and the  Damaged  Party
shall use  commercially  reasonable  efforts to pursue such Tax  benefits and to
pursue claims under the relevant policies of insurance.

Section 10.11  Knowledge of Claim.
               ------------------

Notwithstanding anything herein to the contrary, Silgan and the Purchasers shall
not be entitled to make a claim with respect to a breach of a representation and
warranty  if, as at the  Closing  Date,  any of Anthony  Allott,  Frank Hogan or
Robert  Lewis had actual  knowledge  that such  representation  and warranty was
breached or inaccurate and conspired to withhold such  information  deliberately
with the intention of bringing a claim against the Selling  Parties  pursuant to
this  Article X after the  Closing  Date.  The  burden of proof  shall be on the
Selling  Parties to prove the  foregoing  by a showing  of clear and  convincing
evidence  (notwithstanding any other level of burden of proof).  Notwithstanding
anything to the contrary,  the fact that any of Anthony  Allott,  Frank Hogan or
Robert Lewis or any other Silgan personnel or any of Silgan's representatives or
advisors  viewed  any  document  in the Data  Room  shall  not in and of  itself
constitute  knowledge and the fact that any document or email was sent to any of
Anthony Allott, Frank Hogan or Robert Lewis or any other Silgan personnel or any
of Silgan's  representatives  or advisors shall not in and of itself  constitute
knowledge. For the avoidance of doubt, this Section 10.11 shall not apply to any
claims  under  Sections  10.2(f) or 10.3 or  relating  to,  arising out of or in
connection with the disposal of any asbestos-containing  materials stored on the
grounds of the Amcor  Venezuela  manufacturing  plant located in Valencua - Edo.
Carabobo, Venezuela.

                                   ARTICLE XI
                                  MISCELLANEOUS

Section 11.1   Fees and Expenses.
               -----------------

(a) All costs and  expenses  incurred in  connection  with the  negotiation  and
preparation of this Agreement,  the Ancillary Agreements and the consummation of
the Transactions  shall be paid by the Party incurring such expenses,  except as
specifically provided to the contrary in this Agreement; provided, however, that
(i) Silgan shall pay all recording fees, title insurance  premiums for any title
insurance,  surveyor's fees for any survey, title examination,  escrow and

                                       85
<PAGE>

other fees charged by any title insurer;  (ii) Silgan shall pay all stamp,  VAT,
duties,  transfer  and  sales  Taxes as well as  registration  fees  payable  or
assessed in connection with the Transactions and Purchaser shall timely file all
Tax Returns required to be filed in connection with such payments; provided that
the Selling  Parties shall pay all applicable  VAT,  duties,  transfer and sales
Taxes for the sale of the  Purchased  Assets of Amcor  Turkey to the  applicable
Purchaser  and (iii) Silgan shall pay all fees payable or incurred in connection
with filings  required of Silgan or any Selling Party or any of their respective
Affiliates under any Antitrust Law.

(b)  Notwithstanding  Section  11.1(a)(ii),  the  Parties  shall  in good  faith
consider  whether the applicable  Purchaser  shall purchase the Capital Stock of
Amcor Turkey in lieu of purchasing the Purchased Assets and assuming the Assumed
Liabilities of Amcor Turkey, subject to the following terms and conditions:

     (i) Subject to Section 11.1(b)(iv), the applicable Purchaser shall purchase
the Capital Stock of Amcor Turkey in lieu of purchasing the Purchased  Assets of
Amcor  Turkey and  assuming the Assumed  Liabilities  of Amcor Turkey  unless it
gives  notice (a  "Turkey  Notice")  to Amcor  Australia  not later than 45 days
following  the  date  hereof  stating  that  acting  in good  faith  and  acting
reasonably it has  determined  that it is not satisfied  with the results of its
due diligence on the  liabilities  and  obligations  of Amcor Turkey that do not
relate to the Business,  including  environmental  matters,  labour  matters and
compliance  with law (the  "Turkey  Determination"').  If Silgan does not give a
Turkey Notice within such 45 day period,  it shall be deemed to have irrevocably
and unconditionally waived the right to give a Turkey Notice.

     (ii) If Silgan  timely gives a Turkey  Notice to Amcor  Australia and Amcor
Australia  believes  that the Turkey  Determination  was not made in good faith,
Amcor  Australia may require that the question of whether Silgan made the Turkey
Determination in good faith and acting  reasonably be adjudicated by arbitration
in New York,  New York in  accordance  with the  expedited  rules of JAMS,  by a
single arbitrator selected in accordance with such rules (the "Arbitrator"). The
Parties shall use commercially reasonable efforts to cause the arbitration to be
conducted as promptly as  practicable.  The decision of the Arbitrator  shall be
final and binding upon the Parties.

     (iii) If Silgan does not timely give a Turkey Notice or, subject to Section
11.1(b)(iv),  Silgan timely gives a Turkey Notice and the Arbitrator  determines
that  Silgan  did not act in good  faith and  reasonably  in making  the  Turkey
Determination, the Parties agree to effect the sale of the Business conducted by
Amcor Turkey  through a sale of the Capital  Stock of Amcor  Turkey  rather than
through the sale of the Purchased  Assets of Amcor Turkey and the  assumption of
the Assumed  Liabilities of Amcor Turkey.  If Amcor Australia does not decide to
arbitrate in accordance with Section 11.1(b)(ii) or if the Arbitrator determines
that  Silgan  did  act in  good  faith  and  reasonably  in  making  the  Turkey
Determination,  then the sale of the Business conducted by Amcor Turkey shall be
effected by the sale of the Purchased  Assets of Amcor Turkey and the assumption
of the Assumed Liabilities of Amcor Turkey and the Selling Parties shall pay all
applicable VAT, duties,  transfer and sales Taxes for the sale of such Purchased
Assets.

     (iv)  Notwithstanding  anything  herein to the contrary,  if the Arbitrator
determines that the Turkey  Determination  was not made in good faith and acting
reasonably,  by notice (an

                                       86
<PAGE>

"Election  Notice") to Amcor  Australia  given not later than ten (10)  Business
Days  following the receipt of the  Arbitrator's  decision,  Silgan may elect to
purchase the Purchased Assets of Amcor Turkey and assume the Assumed Liabilities
of Amcor Turkey rather than purchase the Capital Stock of Amcor Turkey, provided
that in such event,  Silgan shall pay all applicable VAT,  duties,  transfer and
sales taxes for the sale of the Purchased Assets of Amcor Turkey. If Silgan does
not give an Election  Notice within such ten (10) Business Day period,  it shall
be deemed to have  irrevocably and  unconditionally  waived the right to give an
Election Notice.

     (v) Any sale of the  Business of Amcor Turkey  pursuant to this  Agreement,
whether structured as a sale of the Capital Stock of Amcor Turkey or the sale of
the  Purchased  Assets  of  Amcor  Turkey  and  the  assumption  of the  Assumed
Liabilities  of Amcor Turkey,  shall take place on the Closing  Date;  provided,
however,  that if it cannot be effected on the Closing  Date  because all of the
conditions to closing such sale have not been satisfied or waived,  such sale of
the Capital Stock of Amcor Turkey or the sale of the  Purchased  Assets of Amcor
Turkey and the  assumption of the Assumed  Liabilities  of Amcor Turkey shall be
treated as a Specified  Interest  under  Section 3.4,  the  Holdback  Amount and
Specified  Interest  Target Working  Capital Amount for such Specified  Interest
shall be mutually  agreed to by the Parties  consistent with the principles used
to calculate the Holdback Amounts and Specified  Interest Target Working Capital
Amounts for the other Specified Interests and the applicable  adjustments to the
Estimated Purchase Price set forth in Section 2.4(f) shall be made. In the event
that the sale of the Capital  Stock of Amcor Turkey or the sale of the Purchased
Assets of Amcor Turkey and the  assumption of the Assumed  Liabilities  of Amcor
Turkey is treated as a Specified  Interest pursuant to this Section  11.1(b)(v),
the Specified  Approval for such purchase and sale shall be the  satisfaction or
waiver of all of the conditions to such sale.

     (vi) If the sale of the  Business of Amcor  Turkey is effected  through the
sale of the Capital Stock of Amcor Turkey,  Silgan shall promptly remit to Amcor
Australia  all  amounts  received  by  Amcor  Turkey  that  constitute  accounts
receivable  of the former PET  business of Amcor Turkey with respect to sales of
equipment.

     (vii) The Selling Parties shall provide the applicable  Purchaser with such
information  concerning  the PET business of Amcor  Turkey as it may  reasonably
request,  including  environmental  reports,  financial statements,  information
concerning litigation and government actions and "board reports."

     (viii)  Notwithstanding  the  foregoing,  Silgan  may  elect at any time to
purchase the Purchased Assets and assume the Assumed Liabilities of Amcor Turkey
in lieu of purchasing the Capital Stock of Amcor Turkey, provided that Silgan or
the applicable  Purchaser  shall pay all applicable  VAT,  duties,  transfer and
sales taxes for the sale of the Purchased Assets of Amcor Turkey.

Section 11.2   Equitable Remedies.
               ------------------

Each of the Selling  Parties and Silgan  acknowledges  and agrees that the other
Parties would be damaged  irreparably  if any provision of this Agreement or any
Ancillary Agreement is not performed in accordance with its specific terms or is
otherwise breached.  Accordingly,  each of the Selling Parties and Silgan agrees
that the other Parties shall be entitled to seek an injunction

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<PAGE>

or injunctions to prevent breaches of this Agreement or any Ancillary  Agreement
and to enforce  specifically  this Agreement and any Ancillary  Agreement in any
action or  proceeding  instituted  in any  court  having  jurisdiction  over the
Parties  and the matter,  in  addition to any other  remedy to which they may be
entitled pursuant hereto.

Section 11.3   Further Assurances.
               ------------------

If at any time after the Closing any further action is necessary or desirable to
carry out the purposes of this Agreement or any Ancillary Agreement, each of the
Parties shall take such further action  (including the execution and delivery of
such  further  instruments  and  documents)  as any other Party  reasonably  may
request.

Section 11.4   Amendments.
               ----------

This  Agreement  may be amended,  modified  and  supplemented  only by a written
instrument  signed by all of the Parties  expressly stating that such instrument
is intended to amend, modify or supplement this Agreement.

Section 11.5   Notices.
               -------

(a) All notices and other communications hereunder shall be in writing and shall
be deemed given if delivered personally, telecopied (which is confirmed) or sent
by an overnight courier service to the Parties at the following addresses (or at
such other address for a Party as shall be specified by like notice):

    IF TO A SELLING PARTY:    Amcor Limited
                              679 Victoria Street
                              Abbotsford, Victoria
                              Australia 3067

                              Attention:  Chief Financial Officer
                              Telephone:  61-3-9226-9000
                              Facsimile:  61-3-9226-9071

    COPY TO:                  Amcor Limited
                              679 Victoria Street
                              Abbotsford, Victoria
                              Australia 3067

                              Attention:  Company Secretary
                              Telephone:  61-3-9226-9000
                              Facsimile.: 61-3-9226-9071

                                       88
<PAGE>

    COPY TO:                  Davies Ward Phillips & Vineberg LLP
                              26TH FLOOR
                              1501 McGill College Avenue
                              MONTREAL, QUEBEC, CANADA H4A 3N9

                              Attention:  Peter Mendell
                              Telephone:  514.841.6413
                              Facsimile:  514.841.6497

    IF TO SILGAN:             Silgan Holdings Inc.
                              4 Landmark Square
                              Stamford, CT 06904
                              Attention: Anthony Allott
                              Facsimile No.: 203-975-7902

    COPY TO:                  Silgan Holdings Inc.
                              4 Landmark Square
                              Stamford, CT 06904
                              Attention: Frank W. Hogan, III
                              Facsimile No.: (203) 975-4598

    COPY TO:                  Bryan Cave LLP
                              1290 Avenue of the Americas
                              New York, NY 10104
                              Attention:     Robert J. Rawn
                              Facsimile No.: (212) 541-1431

(b) Any Party may  change the  address to which  notices to it are to be sent by
giving  notice of such  change  to the other  Parties  in  accordance  with this
Section 11.5, provided,  however, that such notification shall only be effective
on:

     (i) the date specified in the  notification as the date on which the change
is to take place; or

     (ii) if no date is  specified  or the date  specified is less than five (5)
Business Days after the date on which notice is deemed to have been served,  the
date falling five (5) Business Days after notice of any such change is deemed to
have been served.

(c) In proving service of a  communication,  it shall be sufficient to show that
delivery by hand was made or that the envelope  containing the communication was
properly addressed and posted as a pre-paid recorded delivery letter or that the
facsimile transmission was dispatched and a confirmatory  transmission report or
other acknowledgment of good receipt was received.

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<PAGE>

Section 11.6   Counterparts.
               ------------

This Agreement and any of the Ancillary Agreements may be executed in any number
of  counterparts,  each of which  (whether with an original or faxed  signature)
shall be considered one and the same  agreement and shall become  effective when
counterparts  have been signed by each of the Parties and delivered to the other
Parties.

Section 11.7  Entire Agreement; No Third Party Beneficiaries.
              ----------------------------------------------

This  Agreement,  the Ancillary  Agreements  and the  agreements,  documents and
instruments  delivered  pursuant hereto and thereto contain the final,  complete
and exclusive statement of the agreement between the Parties with respect to the
Transactions  and all prior or  contemporaneous  Contracts  with  respect to the
subject matter hereof are superseded hereby. For greater certainty,  in no event
do this Agreement,  the Ancillary  Agreements and the agreements,  documents and
instruments delivered pursuant hereto amend or take priority over any agreements
relating  to the sale by Amcor U.S.  of its  Membership  Interest in Amcor White
Cap, LLC to Silgan  Closures  Corporation.  This Agreement  shall not confer any
rights or benefits upon any Person other than the Parties,  the  Purchasers  and
their  respective  successors and permitted  assigns and the Silgan  Indemnitees
under Articles IX and X.

Section 11.8   Severability.
               ------------

Any term of this Agreement or any Ancillary Agreement that is held by a court of
competent  jurisdiction or other authority to be invalid,  void or unenforceable
in  any  situation  in  any  jurisdiction  shall  not  affect  the  validity  or
enforceability  of the  remaining  terms  hereof or thereof or the  validity  or
enforceability  of the  offending  term in any other  situation  or in any other
jurisdiction.  If the final  judgment of a court of  competent  jurisdiction  or
other  authority  declares  that any term hereof or thereof is invalid,  void or
unenforceable,  the Parties agree that the court or other authority  making such
determination shall have the power to replace any invalid, void or unenforceable
term  with a term  that is valid  and  enforceable  and that  comes  closest  to
expressing the intention of the invalid or unenforceable term.

Section 11.9   Governing Law; Waiver of Jury Trial.
               -----------------------------------

(a) This Agreement shall be construed interpreted,  enforced and governed by and
under the Laws of New York without regard to its choice of law rules.

(b) Any  dispute  or  controversy  arising  out of or in  connection  with  this
Agreement or the Ancillary  Agreements must be brought in any court of competent
jurisdiction  in the  Southern  District  of New York,  and,  by  execution  and
delivery   of  this   Agreement,   each  party  (i)   accepts,   generally   and
unconditionally,  the  exclusive  jurisdiction  of such  courts and any  related
appellate  court,  and irrevocably  agrees to be bound by any judgment  rendered
thereby in connection  with this  Agreement and the Ancillary  Agreements,  (ii)
irrevocably waives any objection it may now or hereafter have as to the venue of
any such suit,  action or proceeding  brought in such a court or that such court
is an  inconvenient  forum and (iii)  waives  personal  service of  process  and
consents to service of process upon it by certified or registered  mail,  return
receipt requested, at its address specified in Section 11.5, and service so made
shall be deemed  completed  on the third  Business  Day after  such  service  is
deposited in the mail. Nothing in this Section 11.9(b) shall

                                       90
<PAGE>

affect  the  right of any  party  hereto to serve  process  in any other  manner
permitted by applicable Law.

(c) EACH PARTY HERETO  HEREBY  IRREVOCABLY  WAIVES ALL RIGHT TO TRIAL BY JURY IN
ANY PROCEEDING (WHETHER BASED IN CONTRACT,  TORT OR OTHERWISE) ARISING OUT OF OR
RELATING  TO OR  CONNECTED  WITH  THIS  AGREEMENT  OR ANY  ANCILLARY  AGREEMENTS
CONTEMPLATED  HEREBY  OR THE  ACTIONS  OF ANY PARTY  HERETO IN THE  NEGOTIATION,
ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF.

Section 11.10  Extension; Waiver.
               -----------------

(a) At any time prior to the Closing Date, the Selling Parties, on the one hand,
and Silgan,  on the other hand,  may (i) extend the time for the  performance of
any of the  obligations or other acts of the other Party or Parties,  (ii) waive
any  inaccuracies  in the  representations  and warranties of the other Party or
Parties  contained in this  Agreement or in any document  delivered  pursuant to
this Agreement or (iii) waive  compliance by the other Party or Parties with any
of the agreements or conditions  contained in this  Agreement.  Any agreement on
the part of a Party to any such  extension  or waiver shall be valid only if set
forth in an instrument in writing signed by or on behalf of such Party.

(b) Except as  provided  in Section  11.10(a),  (i) no delay or  omission by any
Party in  exercising  any right,  power or remedy  provided by Law or under this
Agreement or the Ancillary  Agreements shall affect that right,  power or remedy
or operate as a waiver  thereof,  (ii) the  single or  partial  exercise  of any
right,  power or  remedy  provided  by Law or under  this  Agreement  shall  not
preclude  any other or further  exercise  thereof or the  exercise  of any other
right,  power or remedy and (iii) the rights,  powers and  remedies  provided in
this  Agreement  are  exclusive  of any rights,  powers and  remedies  otherwise
provided by Law.

Section 11.11  Assignability.
               -------------

Neither this Agreement nor any of the covenants and agreements herein or rights,
interests  or  obligations  hereunder  shall be  assigned  by any of the Parties
(whether by operation of law or otherwise)  without the prior written content of
the  other  Parties.  Any such  purported  assignment  shall  be null and  void.
Notwithstanding the foregoing,  prior to the Closing Date, Silgan may assign its
rights and obligations  hereunder (including its right to purchase the Purchased
Equity and the Purchased Assets),  in whole or in part, to any of its Affiliates
without the consent of any of the other Parties, provided,  however, that Silgan
guarantees  the  obligations  of  such  assignee  by  remaining  obligated  as a
Responsible  Party  under  Article  IX and  Article X  pursuant  to a  guarantee
acceptable  in  form  and  substance  to  the  Selling  Parties  in  their  sole
discretion.  If any of the Selling  Parties is no longer an  Affiliate  of Amcor
Australia,  then  such  Selling  Party  (except  for Amcor  Australia)  shall be
released from any and all obligations of such Selling Party remaining under this
Agreement.  If any of the  Purchasers  or  Acquired  Companies  is no  longer an
Affiliate of Silgan, then such Purchaser or Acquired Company (except for Silgan)
shall be released  from any and all  obligations  of such  Purchaser or Acquired
Company remaining under this Agreement. Subject to the preceding sentences, this
Agreement  shall be binding upon,  inure

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<PAGE>

to the  benefit  of and be  enforceable  by the  Parties  and  their  respective
successors and permitted assigns.

Section 11.12  Captions.
               --------

The  captions  herein are for  convenience  of  reference  only and shall not be
construed as a part of this Agreement.

Section 11.13  Schedules.
               ---------

Each Schedule  referred to in this  Agreement is hereby  incorporated  herein by
reference and shall be deemed and  construed to be a part of this  Agreement for
all purposes.

Section 11.14  Amcor Australia to Act on Behalf of Selling Parties.
               ---------------------------------------------------

Each of the Selling Parties  irrevocably and  unconditionally  authorizes  Amcor
Australia to act on its behalf in connection  with all matters  relating to this
Agreement and the Ancillary Agreements.

Section 11.15  Time of Essence.
               ---------------

Each of the Parties  agrees that,  with regard to all dates and time periods set
forth or referred to in this Agreement, time is of the essence.

Section 11.16  Joint and Several Liability.
               ---------------------------

The  obligations  of  Silgan  and the  Purchasers  hereunder  shall be joint and
several notwithstanding  anything herein to the contrary. The obligations of the
Selling Parties hereunder shall be joint and several,  notwithstanding  anything
herein to the contrary.

                            [SIGNATURE PAGE FOLLOWS]

                                       92
<PAGE>

     IN WITNESS  WHEREOF,  the parties  hereto have caused this  Agreement to be
signed by their respective officers thereunto duly authorized, as of the day and
year first written above.

                                       AMCOR LIMITED

                                       By: /s/ Ian Wilson
                                           ------------------------------------
                                           Name:  Ian Wilson
                                           Title: Strategic Business Director

                                       SILGAN HOLDINGS INC.

                                       By: /s/ Anthony Allott
                                           ------------------------------------

                                           Name:  Anthony Allott
                                           Title: President and Chief Operating
                                                   Officer

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