EXHIBIT 99.1


                   OWENS-ILLINOIS ANNOUNCES AGREEMENT TO SELL
                             HARBOR CAPITAL ADVISORS



      Toledo, Ohio, March 21, 2001 -- Owens-Illinois, Inc., (NYSE: OI) today
announced that it has entered into a definitive agreement to sell its Harbor
Capital Advisors business to Robeco Groep N.V. Harbor Capital Advisors is the
adviser to the Harbor Fund family of mutual funds and the adviser to the pension
funds of Owens-Illinois.

      Total consideration for the sale is up to $490 million in cash, subject to
certain downward adjustments principally for changes in revenues based on sales
or redemptions of shares of the Harbor Fund. The transaction is subject to
several conditions, including approval of the independent trustees of Harbor
Fund and of the shareholders of each of the 12 mutual funds in the Harbor Fund
family of certain agreements to be entered into at the closing, and receipt
of a number of permits, licenses and consents, foreign and domestic
regulatory approvals and other conditions. The transaction is expected to
close in June of 2001. Owens-Illinois plans to use the proceeds to reduce
bank debt.

      Joseph H. Lemieux, Owens-Illinois chairman and chief executive officer,
said, "Harbor Capital Advisors has been an outstanding business since the
introduction of the Harbor Fund public mutual fund in 1987. Assets under
management have grown rapidly to about $14 billion with 12 funds being offered.
To enable Harbor Capital Advisors to realize its potential as it continues to
grow, an association with a respected asset management firm such as Robeco is an
important step. We will have a significant ongoing relationship with Harbor
Capital Advisors and we expect this business to grow and perform very well with
Robeco as its new parent."

      Combined proceeds from the Harbor Capital Advisors transaction, sales of
other non-core assets, and previously announced settlement agreements with
insurance companies are expected to reduce the company's total debt by
approximately $700 million in the first half of 2001. The company's total debt
at Dec. 31, 2000, was $5.850 billion.

      Mr. Lemieux added, "The sale of the Harbor Capital Advisors business will
enable us to maintain our long-standing focus on our core businesses in glass
and plastics packaging. At the same time, Robeco's expertise is expected to
enable Harbor Capital Advisors to continue to grow and to maintain the high
standards of service and performance to which we have grown accustomed."

      Based in the Netherlands, Robeco Groep is one of the world's largest
independent asset managers, with approximately $100 billion under management.

      Included in the transaction are the assets of Harbor Capital Advisors,
Inc., and its wholly owned subsidiaries -- HCA Securities, Inc., and Harbor
Transfer, Inc. Harbor Capital Advisors is the investment adviser to Harbor Fund,
a family of actively managed mutual funds. HCA Securities is the distributor and
principal underwriter for Harbor Fund. Harbor Transfer is the shareholder
servicing agent for Harbor Fund.






      The management of Harbor Capital Advisors is expected to remain with the
company following the closing and will continue to be located in Toledo, Ohio.
In addition to maintaining their current responsibilities with respect to the
Harbor Fund, they also will continue to have responsibility for advising the
pension funds of Owens-Illinois. Harbor Capital Advisors and its subsidiaries
have approximately 65 employees in its offices at One SeaGate in downtown
Toledo.

      Harbor Capital Advisors, a wholly owned subsidiary of Owens-Illinois, was
formed in 1983. Harbor Capital Advisors oversees assets of approximately $17
billion, which includes approximately $14 billion under management in the Harbor
Funds. Harbor Fund began offering shares to the public in 1987. It has grown
from a single domestic equity fund to a comprehensive family of 12 funds with
more than 120,000 accounts. The 12 funds are managed by external subadvisers
selected by Harbor Capital Advisors and approved by Harbor Fund's independent
trustees.

OWENS-ILLINOIS PROFILE

      Owens-Illinois is the largest manufacturer of glass containers in North
America, South America, Australia, New Zealand, and China, and one of the
largest in Europe. O-I also is a worldwide manufacturer of plastics packaging
with operations in North America, South America, Australia, Europe, and Asia.
Plastics packaging products manufactured by O-I include containers, closures,
and prescription containers.

FORWARD LOOKING STATEMENTS

      This news release may contain "forward looking" statements as defined in
the Private Securities Litigation Reform Act of 1995. Forward looking statements
reflect the Company's best assessment at the time, and thus involve a number of
risks and uncertainties. It also is possible the Company's future financial
performance may differ from expectations due to a variety of factors such as
those described in the Company's September 30, 2000 Form 10-Q filed with the
Securities and Exchange Commission. 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 intend to update any particular forward looking
statements contained in this news release.

- -0-

CONTACT:  OWENS-ILLINOIS, John Hoff, 419-247-1203

Copies of Owens-Illinois news releases are available at the Owens-Illinois web
site at www.o-i.com; or at www.prnewswire.com; or by fax at Company News on
Call, 800-758-5804, Extension 117254. To contact Owens-Illinois investor
relations, dial 419-247-2400.]


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