<B>Smurfit Subsidiary Buys Argentinian Companies</B>

Smurfit Argentina SA, a subsidiary of Jefferson Smurfit Group. has acquired a group of companies in Argentina: Cartonex S.A., Cartonex Bernal S.A., and Usina Bernal S.A. The cost of the purchases is $13 million which includes assumed debt.

The new operations comprise two corrugated plants with a combined annual production capacity of 50,000 metric tons and a recycled containerboard mill with annual production capacity of 70,000 metric tons.

Following this acquisition, JSG's operations in Argentina now comprise two containerboard mills with combined annual production capacity of 110,000 metric tons and five corrugated plants with combined annual production capacity of 120,000 metric tons.

With the acquisitions Smurfit becomes the second largest corrugated producer in Argentina with an 18 percent share of the corrugated market, said Alan Smurfit, chairman and CEO of Smurfit Latin America.