Jarden Corporation has exercised its right to convert all outstanding principal and accrued dividends of its Series B preferred stock into common stock, effective August 14, 2005. Upon conversion, Jarden will no longer be subject to the dilutive effect of the paid-in-kind dividends associated with the preferred stock.

Following the conversion, Jarden will have approximately 70 million fully diluted shares outstanding, with Warburg Pincus LLC and its affiliates owning approximately 21% of the fully diluted shares.