BPI Packaging Technologies Inc. Announces $2.0 Million Private Placement

Business Wire, April 22, 1998

N. DIGHTON, Mass.--(BUSINESS WIRE)--April 22, 1998--BPI Packaging Technologies Inc. ("BPI") ((NASDAQ/NMS:BPIE) (Common Stock)), today announced that its April equity private placement with institutional investors has been over-subscribed raising approximately $2.0 million.

Since Aug. 27, 1997, BPI has placed a total of approximately $7.0 million of equity with institutional investors.

Dennis N. Caulfield, chairman and chief executive officer, stated, "The monies raised demonstrate strong confidence in BPI's future. The funds will be used for general working capital and to support the expected build-up of sales for the company's proprietary thin, clear film for tissue overwrap."

BPI Packaging Technologies Inc. is a leading manufacturer of proprietary thin, clear film for tissue overwrap (paper towels and bathroom tissue), proprietary plastic carry-out bags, referred to as t-shirt bags, sold to convenience stores and produce departments of supermarkets and proprietary in-store advertising and promotion products. -0-

Certain statements contained in this press release are not based on historical facts, but are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based upon a number of assumptions concerning future conditions that may ultimately prove to be inaccurate. Actual events and results may materially differ from anticipated results described in such statements.

CONTACT: BPI Packaging Technologies Inc.

Dennis N. Caulfield 508/824-8636

or

Tower Research Associates

Arthur Stupay, 216/861-4816