Ball Corporation
                           Current Report on Form 8-K
                              Dated April 27, 1998



                                                                  Exhibit EX-99

Following is the text of a press release disseminated by the registrant on April
23, 1998:



  BALL CORPORATION AGREES TO ACQUIRE REYNOLDS' GLOBAL BEVERAGE CAN BUSINESS


                  MUNCIE,  Ind., April 23,  1998--Ball  Corporation  [NYSE: BLL]
  announced  today that it has  reached a  definitive  agreement  with  Reynolds
  Metals  Company of  Richmond,  VA., to acquire  essentially  all of  Reynolds'
  global aluminum beverage can manufacturing business for a total purchase price
  of approximately $820 million.

                  Ball will use a combination of cash and, at Ball's option,  up
  to $100  million  of Ball  common  stock to  acquire  all of  Reynolds'  North
  American beverage can manufacturing assets, which consist largely of 16 plants
  in 12 states and  Puerto  Rico,  as well as  Reynolds'  approximate  one-third
  interest in Latasa, a Brazilian  company which operates beverage can plants in
  Argentina,  Brazil and Chile.  The  acquisition  of Reynolds'  can business is
  subject  to  government   antitrust   approval,   transaction   financing  and
  refinancing   of  existing  Ball  debt  and  customary   closing   conditions.
  Additionally,  the  acquisition  by Ball of  Reynolds'  interest  in Latasa is
  subject to certain  third-party  consents.  Ball and  Reynolds  have agreed to
  discuss further the possible later  acquisition by Ball of Reynolds'  minority
  interest in a can manufacturing company in Saudi Arabia.

                  Ball operates seven  aluminum  beverage can plants in the U.S.
  and two in Canada, and is the largest producer of beverage cans in China. Ball
  is also a partner in joint venture  beverage can  manufacturing  operations in
  Brazil, the Philippines, Taiwan and Thailand.

                  The  combination of Ball's beverage can  manufacturing  assets
  and those of  Reynolds  will have annual  production  capacity of more than 50
  billion cans worldwide,  including  approximately  35 billion in North America
  and nine  billion in South  America.  Based on 1997  results,  North  American
  consolidated  beverage  can sales of the combined  businesses  would have been
  approximately $2.3 billion.

                  "Acquisition of the Reynolds beverage can manufacturing assets
  represents  a major  building  block in our  strategy  to  remain a  low-cost,
  preferred  supplier for aluminum  beverage cans in North America," said George
  A.  Sissel,   Chairman  and  Chief  Executive  Officer  of  Ball  Corporation.
  "Combining it with Ball's  beverage can operations will afford us an even more
  solid  foundation  in North America and for the export of our  technology  and
  capital into emerging international packaging markets."

                  "The opportunities for synergies, savings and improvement from
  melding  these two great names in packaging are  significant,"  said George A.
  Matsik, President of Ball Corporation and Chief Operating Officer,  Packaging.
  "We already have  identified  annual savings of more than $70 million,  and we
  intend  to take the  best of the two  businesses  and  create  something  even
  better."

                  The  transaction,  the largest in Ball's history,  has been in
  discussion  for a number of months and is expected to close in the second half
  of 1998. The $820 million total purchase price assumes certain  incentives and
  other requirements,  which both Ball and Reynolds expect will be achieved.  If
  the  conditions  to acquire  Reynolds'  interest  in Latasa  are not met,  the
  acquisition  price for Reynolds'  North  American  beverage can assets will be
  appropriate reduced.

                  Ball  Corporation  produces rigid metal and plastic  packaging
  products,  primarily  for  beverages  and foods,  and provides  aerospace  and
  technologies  and  services to  governmental  and  commercial  customers.  The
  company reported 1997 sales of $2.4 billion.
                                                     * *

  Note: This news release may contain  forward-looking  statements as encouraged
  by the  Private  Securities  Litigation  Reform  Act of 1995.  Forward-looking
  statements are  necessarily  projections  which are subject to change upon the
  occurrence of certain events which may affect the business,  many of which are
  set forth in the company's  latest Form 10-K report filed with the  Securities
  and Exchange Commission on March 31, 1998.


  8/98
Ball Media Contact:     Scott McCarty          765/747-6175, smccarty@ball.com
Ball Investor Contact:  Doug Poling           765/747-6165, dpoling@ball.com

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