<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>dex99.txt
<DESCRIPTION>NEWS RELEASE DATED MAY 17, 2002.
<TEXT>
<PAGE>

                                                                      Exhibit 99

[LOGO] AVERY DENNISON


For Immediate Release


                            AVERY DENNISON COMPLETES
                            ACQUISITION OF JACKSTADT


         PASADENA, Calif. - May 17, 2002 - Avery Dennison Corporation (NYSE:AVY)
today announced that its acquisition of Jackstadt GmbH has been completed. The
transaction, for which the definitive agreement was announced on September 7,
2001, had a purchase price of approximately $295 million, including assumption
of debt. Jackstadt, based in Wuppertal, Germany, is a global manufacturer of
pressure-sensitive materials with consolidated revenues of approximately $400
million in 2001.

         "Today is an important day for both Avery Dennison and Jackstadt, as we
complete our largest acquisition in a decade," said Philip M. Neal, chairman and
chief executive officer of Avery Dennison. "The combination of Avery Dennison
and Jackstadt is an ideal strategic fit in our core pressure-sensitive materials
business. Customers of both companies will benefit from this transaction, as we
will be able to offer an even broader selection of products and services around
the world."

         Integration of Jackstadt operations into Avery Dennison's businesses
will begin immediately. Headquarters for Avery Dennison's pressure-sensitive
materials operation in Europe will move to Jackstadt's site in Wuppertal,
Germany. Senior management of the European roll materials business, composed of
individuals from both Avery Dennison and Jackstadt, will be based in Wuppertal,
while Avery Dennison's administrative, information technology, research and
development and other support functions will remain at their current facilities
in Leiden, The Netherlands.

         Avery Dennison announced that it expects to post an acquisition-related
restructuring charge in the range of $30 million to $40 million by the end of
2002. Reorganization costs, on a cash basis, are expected to be in the range of
$60 million to $70 million, and are expected to include expenses related to the
reduction of a total of approximately 800 to 1,000 positions at Avery Dennison
and Jackstadt operations worldwide within the next two years.

<PAGE>

         The Company stated that the acquisition is projected to be dilutive to
Avery Dennison earnings by approximately $.05 to $.08 per share, excluding the
expected restructuring charge, during the next 12 months. Avery Dennison
indicated that it is funding the transaction with cash and additional debt.

         "Jackstadt's products and operations are an excellent complement to
Avery Dennison's businesses around the world," said Neal. "This strategic
acquisition will enable us to accelerate our expansion in rapidly growing
markets, particularly Asia, Latin America and Europe, where we look forward to
many years of continued, profitable growth."

         Jackstadt is the world's largest privately held manufacturer of
self-adhesive materials. Founded in 1920 as a fine paper wholesale business
supplying the Germany printing industry, the company began producing
self-adhesive papers in 1949.

         Avery Dennison is a global leader in pressure-sensitive technology and
innovative self-adhesive solutions for consumer products and label materials.
Based in Pasadena, Calif., the Company had 2001 sales of $3.8 billion. Avery
Dennison develops, manufactures and markets a wide range of products for
consumer and industrial markets, including Avery-brand office products,
Fasson-brand self-adhesive materials, peel-and-stick postage stamps, reflective
highway safety products, automated retail tag and labeling systems, and
specialty tapes and chemicals.

# # #

Forward-Looking Statements
--------------------------

Certain information presented in this news release may constitute "forward-
looking" statements. These statements are subject to certain risks and
uncertainties. Actual results and trends may differ materially from historical
or expected results depending on a variety of factors, including but not limited
to price and availability of raw materials, foreign exchange rates, worldwide
and local economic conditions, successful integration of acquired companies,
financial condition of customers, fluctuations in demand affecting sales to
customers and other matters referred to in the Company's SEC filings.

Media Relations:
Charles E. Coleman (626) 304-2014
communications@averydennison.com

Investor Relations:
Wendy Wilson (626) 304-2205
investorcom@averydennison.com

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