Exhibit 12.01 PORTOLA PACKAGING, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) (in thousands, except ratios) For the years ended August 31, 2004, 2003, 2002, 2001 and 2000 YEAR ENDED AUGUST 31, --------------------------------------------------------- 2004 2003 2002 2001 2000 ------- ------ ------ ------ ------ Fixed Charges: Interest expense 15,843 $ 12,544 $ 13,251 $ 14,453 $ 14,486 Debt issuance costs 2,545 777 756 718 428 Rent expense 1,444 1,113 1,122 1,187 817 Total fixed costs 19,832 14,434 15,129 16,358 15,731 Add: Capitalized interest 176 -- -- -- 114 Net fixed charges 20,008 14,434 15,129 16,358 15,845 Earnings: Net income (loss) (20,606) (1,731) 4,573 1,030 (3,743) Income tax benefit from extraordinary item -- -- -- -- -- Income tax (benefit) provision 1,193 2,071 2,242 2,074 (2,165) Net fixed charges 20,008 14,434 15,129 16,358 15,845 Total earnings 595 14,774 21,944 19,462 9,937 Ratio of earnings to fixed charges (1) 0.03 1.02 1.45 1.19 0.63 (1) The amounts of the deficiency in earnings available to cover fixed charges from a ratio of 1.0x (in thousands) are $19,413 and $5,908 for the years ended August 31, 2004 and 2000.