Jarden Triples Sales on Coleman Acquisition; GAAP Income Flat

Jarden Corporation net sales increased 229% to $521.3 million compared to $158.3 million for the same quarter last year. On an as adjusted, non-GAAP basis, first quarter net income increased 110% to $15.8 million, compared to net income of $7.5 million for the same quarter last year. On a GAAP basis, the first quarter 2005 net income was breakeven. After the non-cash amounts for the paid-in kind dividends on the Series B and C preferred stock and a beneficial conversion charge related to the Series B preferred stock, the loss to common stockholders was $22.0 million or 76 cents per common share compared to diluted earnings per common share of 27 cents for the same quarter last year. On an as adjusted, non-GAAP basis, diluted earnings per common share was 38 cents for the first quarter.

Martin E. Franklin, Chairman and Chief Executive, commented, “We are extremely pleased by the overall performance of our business units during the first quarter, particularly as we worked to integrate the American Household acquisition. A healthy performance in our Outdoor Solutions segment, whose seasonality favors the first and second quarters, helped Jarden exceed its operating targets as a whole for the first quarter.”

“We are satisfied with the progress we have made in expanding our overall operating margins and capitalizing on the synergies from our acquisitions. Key management positions in our Outdoor Solutions and Branded Consumables segments were filled during the quarter and we have settled into an execution mode as we focus on developing new products, planning for 2006 initiatives and identifying further acquisition opportunities to strengthen our existing portfolio.”

     Jarden Corporation
     Consolidated Statements of Operations (Unaudited)
     (in thousands, except per share data)

                                     Three Months Ended March 31,
                                                 2005                  2004
                                                              As        As
                                      As                   Adjusted  Reported
                                   Reported   Adjustments (non-GAAP)  (GAAP)
                                    (GAAP)      (1) (4)       (4)     (2) (3)

    Net sales                      $521,347       $--      $521,347  $158,324

    Costs and expenses:
      Cost of sales                 400,390   (16,390)      384,000   109,942
      Gross profit                  120,957    16,390       137,347    48,382
      Selling, general and
       administrative expenses       96,962        --        96,962    30,607
      Reorganization and
       acquisition-related
       integration costs              2,928    (2,928)           --        --
    Operating earnings               21,067    19,318        40,385    17,775
    Interest expense, net            14,975        --        14,975     5,620
    Loss on early extinguishment
     of debt                          6,046    (6,046)           --        --
    Income before taxes                  46    25,364        25,410    12,155
    Income tax provision                 17     9,638         9,655     4,643
    Net income                           29   $15,726       $15,755     7,512
    Paid-in kind dividends on
     Series B & C preferred stock    (5,494)                               --
    Charge from beneficial
     conversion on Series B
     preferred stock                (16,541)                               --
    (Loss) income available
     to common stockholders        $(22,006)                           $7,512

    Basic (loss) earnings
     per share                       $(0.76)                            $0.28
    Diluted (loss) earnings
     per share                       $(0.76)                            $0.27
    Weighted average shares
     outstanding:
      Basic                          28,802                            27,045
      Diluted                        28,802                            28,192

    Net income (from above)             $29   $15,726       $15,755    $7,512

    Basic weighted average
     shares outstanding              28,802        --        28,802    27,045
    Additional shares assuming
     conversion of stock options
     and restricted stock                --     1,174         1,174     1,147
    Diluted weighted average
     shares outstanding              28,802     1,174        29,976    28,192
    Add back: Conversion of Series B
     preferred stock and accrued
     dividends into common stock         --     4,083         4,083        --
    Add back: Conversion of Series C
     preferred stock and accrued
     dividends into Series B preferred
     stock and further into
     common stock                        --     5,449         5,449        --

    Add back: Conversion of Series C
     preferred stock and accrued
     dividends into common stock         --       969           969        --
    Add back: Estimated additional
     shares assuming conversion of
     stock options and restricted
     stock to be issued upon
     shareholder approval of
     amendment to stock
     compensation plan                   --     1,450         1,450        --
    Diluted weighted average
     shares outstanding              28,802    13,125        41,927    28,192

    Diluted (loss) earnings
     per share                       $(0.76)                  $0.38     $0.27

     See Notes to Earnings Release attached.