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                Sealed Air: Offer for Dolphin Packaging PLC


Contacts: Mary A. Coventry
          J. Ryan Flanagan
          201-791-7600



           Sealed Air Corporation Announces Cash Offer for
                         Dolphin Packaging PLC

     Saddle Brook, N.J., June 28, 2000 - Sealed Air Corporation (NYSE -
SEE) announced today that it is making a formal cash offer for all of the
outstanding shares of Dolphin Packaging PLC. Based on the cash offer price
of 3.30 pounds sterling per share, a premium of 29% over the closing
price of 2.55 pounds sterling on June 27, 2000, the offer values the
equity of Dolphin at approximately $118 million at current exchange rates.
     
     Dolphin's board of directors has unanimously recommended acceptance
of the offer.  The founders and directors of Dolphin, together with
certain immediate family and associated trusts have irrevocably
committed to tender their shares, constituting more than 55% of the
company's outstanding shares.  The completion of the offer is subject to
customary conditions, and the transaction is expected to be completed
during the third quarter.
     
     Dolphin, which is listed on the London Stock Exchange, is one of
the leading U.K. producers of specialty plastic packaging products for
modified atmosphere applications, home meal replacement and other
centrally prepared fresh foods, with 1999 net sales of approximately $82
million. Dolphin also has operations in Ireland and the Netherlands.
Dolphin's broad range of products includes fresh meat trays, food
service items and prepared salad, fruit and vegetable containers as well
as rigid containers for bulk distribution of products to food, medical
and healthcare industries.
     
     William  V. Hickey,  Sealed Air's President and Chief Executive
Officer, said, "Dolphin has been our strategic partner in the U.K. for
over two years as a supplier of barrier foam trays for our growing case-
ready business.  This transaction enhances our opportunity for growth in
the rapidly expanding European convenience food, food service and home
meal replacement businesses and represents an attractive opportunity to
strengthen our position by taking ownership of this important component
of our European case-ready packaging business."
     
      Sealed  Air is a leading global manufacturer of a wide range  of
food, protective and specialty packaging materials and systems. To view
the  Company's  latest financial news online via the World Wide Web,
visit http://www.cfonews.com/see.


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