Offer Lapsed

Macfarlane Group PLC 18 December 2000 PRESS ANNOUNCEMENT NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN MACFARLANE GROUP INCREASED FINAL* CASH OFFER FOR BRITISH POLYTHENE INDUSTRIES PLC ANNOUNCEMENT OF ACCEPTANCE LEVELS AND LAPSE OF OFFER Macfarlane announces that as at 1.00 p.m. on 16 December 2000 (being the final closing date of the Increased Final Offer) valid acceptances of the Increased Final Offer had been received in respect of a total of 8,097,503 BPI shares, representing approximately 21.9 per cent. of the issued share capital of BPI. Together with the 4,872,398 BPI shares owned by Macfarlane (approximately 13.2 per cent. of the issued share capital of BPI) of which 325,000 BPI shares were held by Macfarlane before the start of the offer period (approximately 0.88 per cent. of the issued share capital of BPI), Macfarlane now owns or has secured acceptances over 12,969,901 BPI shares representing approximately 35.1 per cent. of the issued share capital of BPI. Accordingly, the Increased Final Offer for BPI has lapsed and is no longer open for acceptance. Documents of title accompanying acceptances of the Increased Final Offer will now be returned as soon as practicable. Save as disclosed above, neither Macfarlane nor any persons acting in concert with Macfarlane owned any BPI shares (or rights over such shares) immediately prior to the commencement of the Offer Period, nor have acquired or agreed to acquire any BPI shares (or rights over such shares) during the Offer Period. This announcement should be read in conjunction with the Original Offer Document, the document sent to BPI shareholders on 2 November 2000, the Increased Final Offer Document, the letters sent to BPI shareholders on 8 and 12 December 2000 and the Revised Form of Acceptance. Terms defined in the above documents have the same meanings when used herein unless the context requires otherwise. * Macfarlane reserves the right to revise and/or increase and/or extend the Increased Final Offer in the event of a competitive situation (as determined by the Panel) arising or otherwise with the consent of the Panel. Enquiries: Macfarlane Group PLC Iain Duffin 0141 333 9666 Noble Grossart Limited Sir Angus Grossart 0131 226 7011 Todd Nugent HSBC John Hannaford 020 7336 9000 Bell Pottinger David Rydell/ Kate Power 020 7353 9203 Beattie Media Gordon Beattie 01698 787878 The directors of Macfarlane (whose names are set out in paragraph 2 of part 7 of the Original Offer Document) accept responsibility for the information contained in this announcement and to the best of the knowledge and belief of the directors of Macfarlane (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information. Noble Grossart Limited, which is regulated in the UK by The Securities and Futures Authority Limited, is acting for Macfarlane and no one else in connection with the Increased Final Offer, and will not be responsible to anyone other than Macfarlane for providing the protections afforded to customers of Noble Grossart Limited, or for providing advice in relation to the Increased Final Offer. The contents of this announcement have been approved by Noble Grossart Limited for the purpose only of Section 57 of the Financial Services Act 1986.
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