COMPANY CONTACT:
                                    Checkpoint Systems, Inc.
                                    Craig Burns
                                    Executive Vice President,
                                    Chief Financial Officer, Finance
                                    and Operations
                                    (856) 848-1800
                                INVESTOR RELATIONS CONTACTS:
                                    Christine Mohrmann, Jim Olecki
                                    Financial Dynamics
                                    (212) 850-5600

FOR IMMEDIATE RELEASE


CHECKPOINT SYSTEMS, INC. ANNOUNCES PLAN TO FULLY REDEEM OUTSTANDING 5-1/4%
CONVERTIBLE SUBORDINATED DEBENTURES

Thorofare, New Jersey, September 30, 2004 - Checkpoint Systems, Inc. (NYSE: CKP)
today announced that it will redeem the remaining aggregate principal amount of
the Company's outstanding 5 1/4% Convertible Subordinated Debentures due 2005
("the Notes"). The redemption, in the amount of $23.257 million, will take place
on December 14, 2004. The Company will use cash flow from operations in addition
to borrowings under its revolving credit facility to fund the pending
redemption. The Notes are traded on the NYSE under the symbol "CKP05."

Checkpoint issued $120 million of the Notes in October 1995. In September 2003,
the Company called for redemption $35 million in aggregate principal amount of
the Notes. Of this amount, only $4.723 million were actually redeemed, and the
holders of the remaining $30.277 million elected to convert the Notes into
Checkpoint common stock. In April 2004, the Company called for redemption $60
million in aggregate principal amount of the Notes. Of this amount, only $12.779
million were actually redeemed, and the holders of the remaining $47.221 million
elected to convert the Notes into Checkpoint common stock. Additionally, certain
holders elected to convert $1.743 million of the Notes into Checkpoint common
stock outside of the prior redemptions. The Notes are due in November 2005. Each
Note in the denomination of $1,000 is convertible into Checkpoint common stock,
at the holder's option, at a conversion price of $18.375 per share, which is
equivalent to approximately 54.4218 shares of the Company's common stock. On
September 30, 2004, the last reported sale price of Checkpoint Systems Common
Stock on the NYSE was $15.57. The CUSIP numbers for the Notes are 162825AB9 and
U16197AA0.

Prior to 5:00 p.m. (Eastern Time) on December 9, 2004, holders of Notes called
for redemption may convert their Notes into shares of Checkpoint Systems Common
Stock. Cash will be paid in lieu of fractional shares. Any Notes called for
redemption and not converted on or before 5:00 p.m. (Eastern Time) on December
9, 2004, will be automatically redeemed on December 14, 2004, after which
interest will cease to accrue.

A Notice of Redemption will be sent to the registered holders of the Notes by
the Trustee, JPMorgan Chase Bank, in accordance with the procedures outlined in
the Offering Circular, dated October 17, 1995.

This press release is not an offer to purchase or a solicitation of acceptance
of the offer to purchase. The press release shall not constitute a notice of
redemption of the Notes.

Checkpoint Systems, Inc. is a multinational company that manufactures and
markets labeling systems designed to improve efficiency, reduce costs and
provide value-added label solutions for customers across many markets and
industries. Checkpoint is a leading provider of EAS and RFID systems, source
tagging, barcode labeling systems, hand-held labeling systems and retail
merchandising systems. Applications include automatic identification, retail
security and pricing and promotional labels. Operating directly in 30 countries,
Checkpoint has a global network of subsidiaries and provides professional
customer service and technical support around the world. Checkpoint Systems,
Inc.'s website is located at www.checkpointsystems.com.

Safe Harbor Statement
This press release may include information that could constitute forward-looking
statements made pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995. Any such forward-looking statements may involve
risk and uncertainties that could cause actual results to differ materially from
any future results encompassed within the forward-looking statements. Factors
that could cause or contribute to such differences include those matters
disclosed in the Company's Securities and Exchange Commission filings.