RICHMOND, Va., April 13, 2004 – Tredegar Corporation (NYSE:TG) that its William L. Bonnell aluminum extrusions subsidiary will close its plant in Aurora, Ontario, and transfer the plant's business to its other extrusion facilities in Ontario. Bonnell plans to move the Aurora plant's largest press to the company's facility in Pickering, Ontario, and invest approximately $8 million to upgrade the press and enlarge the facility. The consolidation is expected to reduce annual operating costs by approximately $2 million.

The Aurora plant employs 110 people and is scheduled to close by January 31, 2005. Eligible employees will be offered severance.

Tredegar expects to recognize charges related to the shutdown of $11.8 million ($7.6 million after taxes or 20 cents per share), including asset impairment charges of $7.1 million and other shutdown-related costs of $4.7 million. The company anticipates recognizing these charges in the first quarter and over the next ten months.

Albert A. Butler, president of Bonnell, said: "We regret the impact this decision will have on our employees in Aurora. However, we're continuing to experience excess capacity and pricing pressure from domestic and foreign competitors. Consolidating our Canadian plants should improve customer service, reduce costs and boost profitability. We want to assure our customers that we will do everything necessary to ensure a smooth transition of their business to our other facilities."

Headquartered in Newnan, Ga., Tredegar's Bonnell subsidiary is a major producer of soft-alloy aluminum extrusions primarily for the building and construction, distribution, transportation, electrical, machinery and equipment, and consumer durables markets. The company employs approximately 1,600 people at its facilities in Newnan, Ga.; Carthage, Tenn.; Kentland, Ind.; Pickering, Ontario; Richmond Hill, Ontario; Woodbridge, Ontario; and Ste-Thérèse, Québec. Bonnell's 2003 net sales totaled $355 million.

Based in Richmond, Va., Tredegar Corporation is a global manufacturer of plastic films and aluminum extrusions. Tredegar is also developing and marketing bone graft substitutes through its Therics subsidiary.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS
The words "believe," "hope," "expect," "are likely," and similar expressions identify "forward-looking" statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements, including without limitation the following:

Aluminum Extrusions is a cyclical business that is highly dependent on the economic conditions of its end-use markets in the U.S. and Canada, particularly in the construction, distribution and transportation industries. This business is also subject to seasonal slowdowns during the winter months. Aluminum Extrusions is under increasing domestic and foreign competitive pressures, including a growing presence of Chinese imports in a number of Aluminum Extrusions' markets.

Future performance is also influenced by the costs incurred by Tredegar's businesses. There is no assurance that cost control efforts will offset cost increases or any additional declines in revenues. Likewise, there is no assurance of our ability to pass through to our customers cost increases in raw materials.

Tredegar does not undertake to update any forward-looking statement made in this press release to reflect any change in management's expectations or any change in conditions, assumptions or circumstances on which such statements are based.