FOR:   Jarden Corporation

                             APPROVED BY:   Martin E. Franklin
                                            Chairman and
                                            Chief Executive Officer
                                            914-967-9400

                                 CONTACT:   Investor Relations:
                                            Suzanne Rosenberg/Melissa Myron
                                            Press: Evan Goetz/Jennifer McCullam
                                            212-850-5600

FOR IMMEDIATE RELEASE
---------------------


                   JARDEN COMPLETES DIAMOND BRANDS ACQUISITION

RYE, NEW YORK - FEBRUARY 7, 2003 - JARDEN CORPORATION (NYSE:JAH) today announced
it has completed its acquisition of the business assets and certain liabilities
of Diamond Brands Operating Corp. and its affiliates ("Diamond Brands") for a
purchase price of $108 million. The purchase price net of cash on hand at
Diamond Brands was approximately $90 million. The acquisition was financed using
cash-on-hand and a drawdown on Jarden's existing revolving credit facility. The
acquisition will increase Jarden's annualized revenue base to more than $500
million.

Martin E. Franklin, Chairman and Chief Executive Officer, said, "This
immediately accretive acquisition brings the market leading Diamond Brands(R)
and Forster(R) brands into our established portfolio of branded consumable
products. As a result of the transaction, more than 90% of our total revenue
will now be consumer products related."

Diamond Brands, based in Cloquet, MN, employs approximately 600 people and is a
leading manufacturer and marketer of niche consumer products for use in the home
including kitchen matches, toothpicks, plastic cutlery, straws, clothespins and
wooden crafts, sold primarily under the Diamond Brands(R) and Forster(R)
trademarks.

Mr. Franklin continued, "The Diamond Brands acquisition will allow us to further
integrate our distribution channels, thereby strengthening our relationships
with our retail customers. We believe there are significant opportunities to
expand the base business and introduce new products under the Diamond Brands(R)
name in the future."





JARDEN COMPLETES DIAMOND BRANDS ACQUISITION                              PAGE 2


Jarden Corporation is a leading provider of niche consumer products used in the
home under leading brand names including Ball(R), Bernardin(R), Diamond
Brands(R), FoodSaver(R), Forster(R) and Kerr(R). In North America, Jarden is the
market leader in several niche categories, including home canning, home vacuum
packaging, kitchen matches, plastic cutlery and toothpicks. Jarden also
manufactures a wide array of plastic products for third party consumer product
and medical companies, as well as its own businesses.

Note: This news release contains "forward-looking statements" within the meaning
of the federal securities laws and is intended to qualify for the Safe Harbor
from liability established by the Private Securities Litigation Reform Act of
1995, including statements regarding the outlook for Jarden's markets and the
demand for its products. These projections and statements are based on
management's estimates and assumptions with respect to future events and
financial performance and are believed to be reasonable, though are inherently
uncertain and difficult to predict. Actual results could differ materially from
those projected as a result of certain factors. A discussion of factors that
could cause results to vary is included in the Company's periodic and other
reports filed with the Securities and Exchange Commission.

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