Briarcliff Manor, New York, June 22, 2010 – Saw Mill Capital Partners L.P., a private equity investment fund managed by Saw Mill Capital LLC, together with the senior management team of Gateway Packaging Company LLC, announced today the acquisition of Gateway Packaging, a leading supplier of flexible packaging primarily serving the pet food and human food markets. The terms of the transaction have not been disclosed.

“On behalf of our employees, we are excited to announce our financial and strategic partnership with Saw Mill Capital”, commented Roger Miller, Gateway’s Founder and Chief Executive Officer. “Saw Mill is a forward- looking, growth-oriented partner that brings not only capital but also new strategic resources to accelerate our growth plans,” he added.

Timothy Nelson, a Principal at Saw Mill Capital, said, “Gateway is a strong platform led by a visionary team that has built an excellent brand in the flexible packaging industry. This business has been built from the ground up by a team committed to delivering superior value to their customers. We look forward to continuing this and supporting their growth plans with our financial and strategic resources.”