<B>Sonoco Reports Increased Revenues</B>

Sonoco reported sales for the first quarter of $676.3 million, up 20.7% over $560.5 million in the same period last year. This year's first quarter sales included six more calendar days than last year's first quarter. Volume, which increased in most businesses, coupled with acquisitions made during 1999, increased sales $82 million. In addition, sales benefited from price increases of approximately $41 million. Net income for the first quarter of 2000 was $45 million, an 11.3% increase over $40.4 million in the same period of 1999, excluding a $3.5 million non-recurring gain in the same quarter of 1999.

``Our first quarter results were particularly strong in the face of increased material costs, including two $10 per ton increases in old corrugated containers (OCC) in the first quarter, bringing the total increases in OCC to $55 per ton since March 1999. In April, OCC increased again by $10 per ton. Also, resin costs increased by 56% since the first quarter of last year,'' said Peter Browning, president and CEO. He said that these costs were more than offset, however, by continued volume growth throughout the company's businesses, strong productivity improvement, a decreased tax rate, strong pension fund returns and stock repurchases.

Browning noted that the company had announced price increases for its converted products in North America, effective May 1, 2000, and in Europe, effective May 15, 2000. He said the North American increase will not fully close the price/cost gap from the March and April OCC increases before late in the second quarter. He also said that the company's high density film business announced a 7.5% price increase effective April 10, 2000. ``Because of the normal delay in price/cost recovery, we now expect our second quarter to be lower than previously forecasted, with the third and fourth quarters somewhat stronger than forecasted,'' added Browning.