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2016-01-28

Owens-Illinois, Inc.: O-I to Host Investor Day on March 1, 2016

FOR IMMEDIATE RELEASE

For more information, contact:

David Johnson
Vice President, Investor Relations
Perrysburg, Ohio, US
567 336 2600
dave.johnson@o-i.com

Kristin Kelley
VP Global and Corporate Communications

Perrysburg, Ohio, US
567 336 2395
kristin.kelley@o-i.com

O-I to Host Investor Day on March 1, 2016

Perrysburg, Ohio (January 28, 2016) - Owens-Illinois, Inc. (NYSE: OI) today
announced that it will host an investor day on March 1, 2016. CEO Andres
Lopez and the executive team will review the Company's long-term strategic
plans, industry trends and operational levers to drive higher earnings and
cash flow over the next several years. The invitation-only event will take
place in New York City.

Lopez will provide investors with a comprehensive update on O-I's business,
including the Company's strategic plans and favorable trends for key market
segments. In addition, he will identify longer-term commercial development
opportunities, including the Company's successful efforts - by acquisition
and by joint venture - to increase O-I's exposure to fast growing U.S. beer
imports and the Mexican domestic market. He also will highlight ongoing
operational improvements to promote stability and heightened performance
that, as the Company exited the year 2015, have already begun to impact O-I's
end-to-end supply chain and have improved the core business. Additionally,
Lopez will discuss 2016-17 plans to drive enhanced enterprise profitability.

Chief Financial Officer Jan Bertsch will discuss how O-I's strategic
initiatives will translate into margin improvement and higher cash flow
generation. She will also review the deleveraging plan to achieve O-I's
target leverage ratio.

Chief Strategy and Integration Officer John Haudrich will provide insight into
how O-I's integrated approach will foster a collaborative culture that will
enable enterprise-wide focus, alignment and benefits going forward. Other
members of the O-I senior management team will provide additional details on
the implementation of the Company's strategic initiatives.

A live webcast of the event will begin at 8:30 a.m., EST and presentation
materials will be available on the O-I website,www.o-i.com/investors, in the
Presentations&Webcast section. A replay of the webcast will be available
following the call.

About O-I

Owens-Illinois, Inc. (NYSE: OI) is the world's largest glass container
manufacturer and preferred partner for many of the world's leading food and
beverage brands. The Company had revenues of $6.8 billion in 2014. Following
the acquisition of Vitro's food and beverage business, the Company now
employs approximately 27,000 people at 81 plants in 23 countries. With global
headquarters in Perrysburg, Ohio, U.S., O-I delivers safe, sustainable, pure,
iconic, brand-building glass packaging to a growing global marketplace. For
more information, visit o-i.com.

O-I's Glass Is Life(TM) movement promotes the widespread benefits of glass
packaging in key markets around the globe. Learn more about the reasons to
choose glass and join the movement at glassislife.com.

Forward-looking statements

This document contains "forward-looking" statements within the meaning of
Section 21E of the Securities Exchange Act of 1934 and Section 27A of the
Securities Act of 1933. Forward-looking statements reflect the Company's
current expectations and projections about future events at the time, and
thus involve uncertainty and risk. The words "believe," "expect,"
"anticipate," "will," "could," "would," "should," "may," "plan," "estimate,"
"intend," "predict," "potential," "continue," and the negatives of these
words and other similar expressions generally identify forward looking
statements. It is possible the Company's future financial performance may
differ from expectations due to a variety of factors including, but not
limited to the following: (1) the Company's ability to integrate the Vitro
Business in a timely and cost effective manner, to maintain on existing terms
the permits, licenses and other approvals required for the Vitro Business to
operate as currently operated, and to realize the expected synergies from the
Vitro Acquisition, (2) risks related to the impact of integration of the
Vitro Acquisition on earnings and cash flow, (3) risks associated with the
significant transaction costs and additional indebtedness that the Company
expects to incur in financing the Vitro Acquisition, (4) the Company's
ability to realize expected growth opportunities and cost savings from the
Vitro Acquisition, (5) foreign currency fluctuations relative to the U.S.
dollar, specifically the Euro, Brazilian real, Mexican peso, Colombian peso
and Australian dollar, (6) changes in capital availability or cost, including
interest rate fluctuations and the ability of the Company to refinance debt
at favorable terms, (7) the general political, economic and competitive
conditions in markets and countries where the Company has operations,
including uncertainties related to economic and social conditions,
disruptions in capital markets, disruptions in the supply chain, competitive
pricing pressures, inflation or deflation, and changes in tax rates and laws,
(8) consumer preferences for alternative forms of packaging, (9) cost and
availability of raw materials, labor, energy and transportation, (10) the
Company's ability to manage its cost structure, including its success in
implementing restructuring plans and achieving cost savings, (11)
consolidation among competitors and customers, (12) the ability of the
Company to acquire businesses and expand plants, integrate operations of
acquired businesses and achieve expected synergies, (13) unanticipated
expenditures with respect to environmental, safety and health laws, (14) the
Company's ability to further develop its sales, marketing and product
development capabilities, and (15) the timing and occurrence of events which
are beyond the control of the Company, including any expropriation of the
Company's operations, floods and other natural disasters, events related to
asbestos-related claims, and the other risk factors discussed in the
Company's Annual Report on Form 10-K for the year ended December 31, 2014 and
any subsequently filed Quarterly Report on Form 10-Q. It is not possible to
foresee or identify all such factors. Any forward-looking statements in this
document are based on certain assumptions and analyses made by the Company in
light of its experience and perception of historical trends, current
conditions, expected future developments, and other factors it believes are
appropriate in the circumstances. Forward-looking statements are not a
guarantee of future performance and actual results or developments may differ
materially from expectations. While the Company continually reviews trends
and uncertainties affecting the Company's results of operations and financial
condition, the Company does not assume any obligation to update or supplement
any particular forward-looking statements contained in this document.

O-I Investor Day
http://hugin.info/150659/R/1982019/726242.pdf
O-I Logo
http://hugin.info/150659/R/1982019/726243.jpg

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Owens-Illinois, Inc. via Globenewswire

HUG#1982019

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