On February 4, 2005, the Executive Compensation Committee (the “Compensation Committee”) of the Board of Directors of Tredegar Corporation (the “Corporation”), approved increases in base salaries for 2005, effective as of March 1, 2005, for the President and Chief Executive Officer and each of the other named executive officers of the Corporation. These increases were based upon a review of performance and competitive market data. These adjustments were deemed appropriate by the Compensation Committee in light of each officer’s current compensation as compared to the market median for comparative positions, tenure in office and other considerations. The base salary increases are as follows: (i) Norman A. Scher, President and Chief Executive Officer to $439,192; (ii) Nancy M. Taylor, Senior Vice President Strategy and Special Projects to $272,950; (iii) D. Andrew Edwards, Vice President, Chief Financial Officer and Treasurer to $256,923; (iv) W. Hildebrandt Surgner, Jr., Vice President, General Counsel and Secretary to $257,500; and (v) Thomas G. Cochran, Vice President and President, Tredegar Film Products to $223,020. The base salary increases were approved by the Compensation Committee but are not otherwise set forth in a written agreement between the Corporation and the executives.

        In addition, on February 4, 2005, the Compensation Committee approved discretionary bonus awards to the President and Chief Executive Officer and each of the other named executive officers, in respect of the year ended December 31, 2004, payable in cash in March, 2005. Mr. Scher received a discretionary bonus award of $50,000, Mrs. Taylor and Messrs. Edwards and Surgner each received a discretionary bonus award of $25,000 and Mr. Cochran received a discretionary bonus award of $20,000.

SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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