Disposal of Property

 British Polythene Industries PLC ("BPI")

Disposal of Property

22 June 2010

BPI is pleased to announce that it has yesterday completed the sale of its Stockton on Tees site for a cash consideration of £6M. The property had a book value of £2.35M and a gain on sale (after disposal costs) of around £3.5M will be included in the results for the six months to 30 June 2010. There will be no taxation payable on the disposal. The proceeds will be used to reduce borrowings.

In November 2008 BPI announced the proposed closure of its manufacturing facilities in Stockton on Tees but it was necessary to undertake a gradual scale down of operations to avoid disruption to customers. This process has now been completed with production ceasing in June 2010.

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