Offer Update

Macfarlane Group PLC 15 December 2000 PRESS RELEASE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN 15 December 2000 FOR IMMEDIATE RELEASE MACFARLANE GROUP INCREASED FINAL* CASH OFFER FOR BRITISH POLYTHENE INDUSTRIES PLC Support for Macfarlane's Increased Final Cash Offer The board of Macfarlane announces that Macfarlane now owns or has received acceptances in respect of 11,691,015 BPI shares representing approximately 31.7 per cent. of the issued share capital of BPI. Macfarlane owns 4,872,398 BPI shares (representing approximately 13.2 per cent. of the issued share capital of BPI). As at 3.00 pm on Thursday 14 December Macfarlane had secured valid acceptances in respect of 6,818,617 BPI shares (representing approximately 18.5 per cent. of the issued share capital of BPI). Macfarlane urges all BPI shareholders now to accept its Increased Final Offer of 310 pence for every BPI share. 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 December 2000 and 12 December 2000, and the Revised Form of Acceptance. Definitions contained in these documents apply in this announcement save where 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 0141 333 9666 Iain Duffin Noble Grossart Limited 0131 226 7011 Sir Angus Grossart Todd Nugent HSBC 020 7336 9000 John Hannaford Bell Pottinger 020 7353 9203 David Rydell Kate Power Beattie Media 01698 787878 Gordon Beattie Copies of the Original Offer Document, the document sent to BPI shareholders on 2 November 2000, the Increased Final Offer Document, the lettesr sent to BPI shareholders on 8 December 2000 and 12 December 2000, and the Revised Form of Acceptance are available free of charge from Lloyds TSB Registrars, Antholin House, 71 Queen Street, London EC4N 1SL (telephone 0870 600 2027). 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. 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, 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, or for providing advice in relation to the Increased Final Offer. The contents of this announcement have been approved by Noble Grossart for the purpose only of Section 57 of the Financial Services Act 1986.
UK 100

Latest directors dealings