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                                                                    EXHIBIT 99.2

           TENNECO POSTPONES SALE OF ITS PCA STOCK DUE TO WEAK MARKET
                 CONDITIONS; TENNECO ON TRACK TO COMPLETE SPIN

     GREENWICH, Conn., Oct. 25, 1999 -- Tenneco Inc. (NYSE: TEN) today announced
that it is postponing its sale, through a registered offering, of its remaining
interest in Packaging Corporation of America (PCA). Tenneco also reiterated its
plan to complete the spin-off of Tenneco Packaging and the separation of the
automotive company on Nov. 4.

     Rapidly deteriorating equity market conditions, particularly in the paper
and forest products sector, since mid-September when Tenneco announced its
intent to sell the stock were responsible for the postponement.

     "Tenneco remains on track for the planned separation of Tenneco Packaging
and Tenneco Automotive," said Tenneco Chairman and Chief Executive Officer Dana
Mead. "Funds that would otherwise have been available from the IPO will be
provided through bank facilities available to the packaging company. All the
steps necessary for the tax-free spin-off of Tenneco Packaging to shareowners
are proceeding as planned."

     Tenneco Packaging will retain Tenneco's interest in PCA after the spin, and
intends to monetize the investment in PCA as general stock market conditions
improve.

     As the planned spin-off and separation of the two companies approaches,
Tenneco expects several key events to occur. Trading in Tenneco and the new
companies is expected to begin on a "when issued" basis on Oct. 27. Completion
of the tender offers and exchange offers in order to realign Tenneco's debt is
expected to occur Nov. 3. The tax-free spin-off of Tenneco Packaging to
shareowners of record Oct. 29 is expected to occur after close of business
Thursday, Nov. 4, and the two separate businesses are expected to begin regular
trading as stand-alone companies Friday, Nov. 5. Tenneco is a $6 billion
manufacturing company headquartered in Greenwich, Conn., with 38,000 employees
worldwide. Tenneco Automotive is one of the world's largest producers and
marketers of ride control and exhaust systems and products, which are sold under
the Monroe(R) and Walker(R) global brand names. Among its products are
Sensa-Trac(R) shocks and struts, Rancho(R) shock absorbers, Walker(R)
Quiet-Flow(TM) mufflers and DynoMax(TM) performance exhaust products, and
Monroe(R) Clevite(TM) vibration control components. Tenneco Packaging is among
the world's leading and most diversified packaging companies. Among its products
are Hefty(R) trash bags, Hefty OneZip(R) and Baggies(R) food storage bags, E-Z
Foil(R) single-use aluminum cookware and Hexacomb(R) paper honeycomb products.

     Several statements in this press release are forward looking and are
identified by the use of forward-looking words and phrases, such as "is
postponing," "plan," "since," "remains," "planned," "will be," "intends,"
"expects," and "expected." These forward-looking statements are based on the
current expectations of the Company (including its subsidiaries). Because
forward looking statements involve risks and uncertainties, the Company's plans,
actions and actual results could differ materially. Among the factors that could
cause plans, actions and results to differ materially from current expectations
are: (i) the general political, economic and competitive conditions in markets
and countries where the Company and its subsidiaries operate, including currency
fluctuations and other risks associated with operating in foreign countries;
(ii) governmental actions, including the ability to receive regulatory approvals
and the timing of such approvals; (iii) change in capital availability or costs;
(iv) results of analysis regarding plans and strategic alternatives; (v) changes
in consumer demand and prices, including decreases in demand for the Company's
products and the resulting negative impact on its revenues and margins from such
products; (vi) the cost of compliance with changes in regulations, including
environmental regulations; (vii) workforce factors such as strikes or labor
interruptions; (viii) material substitutions and increases in the costs of raw
materials; (ix) the ability of the Company and its subsidiaries to integrate
operations of acquired businesses quickly and in a cost-effective manner; (x)
new technologies; (xi) the ability of the Company, its subsidiaries and those
with whom they conduct business to timely resolve the Year 2000 issue (relating
to potential equipment and computer failures by or at the change of the
century), unanticipated costs of, problems with, or delays in resolving the Year
2000 issue, and the costs and impacts if the Year 2000 issue is not timely
resolved; (xii) changes by the Financing Accounting Standards Board or other
accounting regulatory bodies of authoritative generally
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accepted accounting principles or policies; and (xiii) the timing and occurrence
(or non-occurrence) of transactions and events which may be subject to
circumstances beyond the control of the Company and its subsidiaries.

Media Contact:                Neil Geary (203) 863-1073
Investor Relations Contact:   Stan March (203) 863-1117