March 27, 2007 — Southworks Development LLC and Solo Cup Co. jointly announced that Southworks Development will acquire approximately 118 acres of the former U.S. Steel property currently owned by Solo Cup. The acquired property will be added to the adjacent land already under contract to Southworks Development LLC.

Southworks Development LLC will integrate the property into a comprehensive Master Plan that includes the nearly 400 additional acres of former U.S. Steel land to the north. Preliminary plans encompass a major shopping center and a variety of housing options including senior living, single-family homes and townhomes, as well as high- and mid-rise multi-family units. Southworks Development LLC will also seek to attract institutional uses such as education, research, bio-medical, and high-technology facilities.

“Our team is excited by the challenge and the opportunity to integrate the Solo Cup property into the overall Master Plan. The development will change the face of the entire southeast side of Chicago,” said Daniel McCaffery, President of McCaffery Interests, Inc., one of Southworks Development’s two operating partners. “We look forward to working with the City, Alderman Pope, Alderman-elect Jackson and the entire community to make this development a success.”

“With more than a mile of waterfront and the addition of more than 115 acres to Chicago’s lakefront parks, this will be a magnificent setting in which to build a residential community,” added John Westrum, CEO of Westrum Development, Southworks Development’s other operating partner.

When Solo Cup purchased the property from U.S. Steel in 2001, the company planned to build a new manufacturing facility on the site, but instead invested in the expansion of its 800,000-square-foot facility at 7575 S. Kostner following its acquisition of SF Holdings in 2004.

The transaction is expected to close on November 30, 2007, and the sale has been approved by the City of Chicago, which conducted a detailed review of the proposed redevelopment plans for the site.

Southworks Development LLC is comprised of Chicago-based McCaffery Interests, Inc., and Philadelphia-based Westrum Development Co., who are the operating partners, and Lubert Adler Funds of Philadelphia, who is the financial partner. McCaffery Interests is a leader in urban mixed-use projects across the country. Westrum Development is a leader in the development of large-scale residential adaptive re-use sites. Lubert Adler is a major investor in real estate and other businesses across the country.

Solo Cup Co. is a $2.4-billion company exclusively focused on the manufacture of disposable foodservice products for the consumer/retail, foodservice and international markets. Solo Cup has broad expertise in paper, plastic, and foam disposables and creates brand name products under the Solo, Sweetheart, Fonda, and Hoffmaster names. Established in 1936, the company has a global presence with facilities in Asia, Canada, Europe, Mexico, Panama and the United States.