Mod-Pac Receives Proposal from Top Executives to Acquire the Company

Mod-Pac plans to form a special committee of its board of directors that will review and consider the proposal on behalf of the company. The committee will retain a legal advisor and an independent financial advisor to assist it in its consideration of the proposal.

No determination has been made as to whether the company will or should be sold, whether on the terms of the this proposal or otherwise, and there can be no assurance that Mod-Pac will accept any acquisition proposal or that any such proposal, if accepted, will result in the consummation of a transaction.