Distribution Agreement

Symphony Plastic Technologies PLC 04 December 2003 For Immediate Release 4 December 2003 Symphony Plastic Technologies plc Distribution Agreement - New Zealand Symphony Plastic Technologies plc ('Symphony'), the degradable plastics company, is pleased to announce that it has entered into a 5 year exclusive distribution agreement with Eco-Pal Limited ('EPL'), to distribute its d2wTM totally degradable products and additives throughout New Zealand. EPL has established supply agreements with some major retailers in New Zealand and already has a range of Symphony's d2wTM totally degradable products positioned in various market sectors under their Eco-Pal brand. The agreement covers the general distribution, manufacture and marketing of a wide range of totally degradable flexible polythene products for New Zealand. Products will be manufactured locally and also imported through Symphony's existing manufacturing infrastructure. The agreement is for Symphony to supply EPL with an unlimited amount of d2wTM degradable products and additives to support the distribution and sub-licensing of d2wTM/Eco-Pal branded finished products for the New Zealand market. The exclusivity is subject to a minimum product purchase value of US$1 million for 2004 and US$2.6 million for 2005 and for considerably higher values for each subsequent year. Commenting on the agreement, John Fell, Managing Director of Eco-Pal, New Zealand, said: 'We are excited to be working with Symphony to market this environmentally responsible product in New Zealand and initial sales have been particularly encouraging. While we looked at Asian and North American technologies, we settled with Symphony as their technology and competitiveness in this area best meets our criteria. With a population of only 3 million, New Zealand uses 2.88 million bags per day, and most New Zealanders think that this is 2.88 million reasons to go degradable.' Commenting on the agreement, Michael Laurier, Chief Executive of Symphony, said: 'This is another value distribution contract which strategically further strengthens the diversity of our market position. We are delighted to be working with EPL, who has successfully sold a substantial volume of consumer and non consumer products over the past few months. Both EPL and Symphony are confident that the market for its product will rapidly develop as a result of increasing environmental pressures.' For more information, please contact: Michael Laurier Tel: 020 8207 5900 Chief Executive, Symphony Bobby Morse/Rebecca Skye Dietrich Tel: 020 7466 5000 Buchanan Communications This information is provided by RNS The company news service from the London Stock Exchange
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