CSS INDUSTRIES, INC. ANNOUNCES REPLACEMENT OF REVOLVING CREDIT FACILITY AND AMENDMENT OF ACCOUNTS RECEIVABLE SECURITIZATION FACILITY


CSS Industries, Inc. (NYSE:CSS) announced today the replacement of its $50,000,000 revolving credit facility, which was due to expire in April 2009, with a new $110,000,000 revolving credit facility with four banks. The new revolving credit facility expires on November 20, 2011, and presently incurs interest at LIBOR plus 125 basis points or the prime rate, subject to adjustment based on a measure of the Company's leverage. The new facility was structured and arranged by PNC Capital Markets, LLC and co-arranged by RBS Securities Corporation.

The Company also announced that it decreased its existing $100 million accounts receivable securitization facility to $75 million, effective with entering into the new revolving credit facility. The accounts receivable securitization will continue to be funded by Market Street Funding LLC, the multi-seller, A-1/P-1 rated commercial paper conduct administered by PNC Bank, National Association. This facility is accounted for as a financing transaction on the Company's consolidated balance sheet, expires on July 25, 2009 and is subject to annual renewal.

"Given events in the global financial markets in recent months, we elected to accelerate the renewal process for our revolving credit facility. We are very pleased with the support we received from our partner banks and the favorable terms we were able to achieve in this difficult global credit environment. The revolving credit facility and our amended accounts receivable securitization facility provide us with cost-effective sources of funds to finance our seasonal borrowing needs and future investment in the growth of our business," commented Clifford E. Pietrafitta, CSS' Vice President â€" Finance and Chief Financial Officer.

CSS is a consumer products company primarily engaged in the design and sale of seasonal and all occasion products, principally to mass market retailers. These products include gift wrap, gift bags, gift boxes, boxed greeting cards, gift tags, decorative tissue paper, decorations, classroom exchange Valentines, decorative ribbons and bows, floral accessories, Halloween masks, costumes, make-ups and novelties, Easter egg dyes and novelties, craft and educational products, memory books, stationery, journals and notecards, infant and wedding photo albums and scrapbooks, and other gift items that commemorate life's celebrations.

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management as to future events and financial performance with respect to the Company's operations. Forward-looking statements speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they were made. Actual events or results may differ materially from those discussed in forward-looking statements as a result of various factors, including without limitation, general market conditions; increased competition; increased operating costs, including labor-related and energy costs and costs relating to the imposition or retrospective application of duties on imported products; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs and the risk that the Company may not be able to integrate and derive the expected benefits from such acquisitions; risks associated with the restructuring plan to close the Company's facilities in Elysburg, Pennsylvania and Troy, Pennsylvania, including the risk that the restructuring related savings may be less than and/or costs may exceed the presently expected amounts and the risk that the closures will adversely affect the Company's ability to fulfill its customers orders on time; risks associated with the Company's enterprise resource planning systems standardization project, including the risk that the cost of the project will exceed expectations, the risk that the expected benefits of the project will not be realized and the risk that implementation of the project will interfere with and adversely affect the Company's operations and financial performance; the risk that customers may become insolvent; costs of compliance with governmental regulations and government investigations; liability associated with non-compliance with governmental regulations, including regulations pertaining to the environment, Federal and state employment laws, and import and export controls and customs laws; and other factors described more fully in the Company's annual report on Form 10-K for the fiscal year ended March 31, 2008 and elsewhere in the Company's filings with the Securities and Exchange Commission. As a result of these factors, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, the Company.


FOR FURTHER INFORMATION CONTACT:
Clifford E. Pietrafitta
Chief Financial Officer
(215) 569-9900