Saudi Distribution Agreement

Symphony Plastic Technologies PLC 07 March 2005 7th March 2005 Symphony Plastic Technologies plc Distribution Agreement - Saudi Arabia Symphony Plastic Technologies Plc ('Symphony'), the degradable plastics company, through its wholly owned subsidiary Symphony Environmental Ltd, has entered into a fifteen year exclusive distribution agreement with Gulf Business Network Trading Company Ltd., ('GBN') of Saudi Arabia. The fifteen year agreement will allow GBN to sell and market Symphony's d2w degradable additive products exclusively into The Kingdom of Saudi Arabia. As part of the agreement GBN undertakes to purchase not less than US$450,000 of products within six months and not less that US$2.43 million in the first year with the volumes increasing by not less than 110% of the preceeding year thereafter. This is Symphony's first major agreement in Saudi Arabia, building on its existing customer base in the Middle East, and further expands its international distribution network, which includes Brazil, Canada, the Caribbean, New Zealand, South Africa and USA. GBN is owned by the Al-Qahtani family, one of the leading families in Saudi Arabia., and its businesses are involved in Environmental Services and Contracts Management, Water Treatment and Fire Fighting Services. Michael Laurier, Chief Executive, said: 'This is another valuable distribution contract and strategically places the company's d2w additive technology into a completely new market. Both GBN and Symphony are confident that the market for its product will rapidly develop in Saudi Arabia as a result of increasing environmental pressures.' Commenting on the agreement, Dr. Said J. Al-Qahtani, President, GBN, said: 'We are excited to be working with Symphony to market this environmentally responsible product in Saudi Arabia and the initial sales and response have been particularly encouraging. Saudi Arabia is plagued with plastic pollution caused by discarded waste and we believe that the market will receive this environmentally responsible technology very well.' For further information: Symphony Plastic Technologies plc Michael Laurier, Chief Executive +44 (0) 20 8207 5900 Citigate Dewe Rogerson Patrick Toyne Sewell/ Ged Brumby +44 (0) 20 7638 9571 Further information on Symphony Plastic Technologies plc Symphony develops and supplies environmentally responsible plastic packaging products, which are distributed primarily to the retail, local authority and health related sectors. The Group's main technology, d2w(R), allows plastic to degrade, leaving only water, a minimal amount of carbon dioxide and trace amounts of non-toxic biomass over a short time period. The current d2w(R) product range now includes additives, carrier bags, refuse and waste sacks, mailing wrap, stretch film, aprons, dog waste sacks and packaging films. Symphony has a strong blue-chip customer base in the UK and has successfully established itself as an international business after signing contracts with companies in Brazil, Canada & USA, New Zealand, South Africa, the Caribbean and the Middle East. Further information on Symphony can be found at www.degradable.net. This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings