DARIEN, Ill., Sept. 2 /PRNewswire-FirstCall/ -- Viskase Companies, Inc. ("Viskase") today announced that in connection with the previously announced offer to exchange (the "Offer to Exchange") any and all outstanding 8% Senior Subordinated Notes Due 2008 (the "Old Notes") for newly issued 11 1/2% Senior Secured Notes Due 2011 (the "11 1/2% Notes"), and the previously announced offer to purchase (the "Offer to Purchase") any and all outstanding Old Notes, it has extended the date on which the Offer to Exchange and Offer to Purchase will expire (the "Expiration Time") from 5:00 p.m., New York City time, on September 2, 2008, to 5:00 p.m., New York City time, on September 16, 2008. The Expiration Time is being extended in order to provide the holders of Old Notes, particularly those holders who own their Old Notes in nominee form and may therefore have had less time to review the applicable documentation, with additional time in which to participate in the Offer to Exchange and the Offer to Purchase. The Expiration Time remains subject to extension by Viskase in its sole discretion. Except as described above, all other terms and conditions of the Offer to Exchange and Offer to Purchase are unchanged. The Offer to Exchange and Offer to Purchase are being made pursuant to the terms and conditions set forth in the Offering Circular and Offer to Purchase, dated August 4, 2008, and the accompanying "Letter of Transmittal," which were previously sent to holders of Old Notes. Further details about the terms and conditions of the Offer to Exchange and Offer to Purchase are set forth therein. Viskase has retained Wells Fargo Bank N.A. to act as the depositary for the Offer to Purchase and the exchange agent for the Offer to Exchange. Questions regarding the Offer to Exchange and the Offer to Purchase should be directed to Wells Fargo Bank N.A. at (800) 344-5128 (toll-free). Requests for documentation should also be directed to Wells Fargo Bank N.A. at (800) 344-5128 (toll-free). As of Tuesday, September 2, 2008, an aggregate of approximately $2,079,565 principal amount of Old Notes, or approximately 19.40% of the outstanding Old Notes, had been tendered into, and not withdrawn from, the Offer to Exchange and Offer to Purchase. Viskase Companies, Inc. is a worldwide leader in the manufacture and sale of cellulosic, fibrous and plastics casings for the processed meat industry. We market our products through a combination of direct sales representatives, distributors and agents, which enables us to sell our products in virtually every country in the world. In addition to our casings business, we also make plastic barrier bags and other high-end specialty plastics products for food suppliers. Our principal executive offices are located at 8205 South Cass Avenue, Suite 115, Darien, Illinois 60561, our telephone number is 1-630-874-0700 or 1-800-VISKASE and our website is located at http://www.viskase.com/. DATASOURCE: Viskase Companies, Inc. CONTACT: Wells Fargo Bank N.A., 1-800-344-5128, for Viskase Companies, Inc. Web site: http://www.viskase.com/

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