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Macfarlane Group PLC (MACF)

Macfarlane Group PLC

Expansion of BPI Quotations
Macfarlane Group PLC
9 November 2000

                               
  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
                        UNITED STATES,
      CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN

                               
  MACFARLANE GROUP PLC ('MACFARLANE') CASH OFFER FOR BRITISH
               POLYTHENE INDUSTRIES PLC ('BPI')


             Expansion of previous BPI quotations

In  the document which Macfarlane sent to the shareholders  of
BPI  on  2  November 2000, Macfarlane reproduced the  text  of
various  statements  made by Cameron McLatchie,  chairman  and
chief executive of BPI.

Macfarlane  has been asked and is pleased to set out  in  more
detail   the  context  of  two  of  these  quotations.    Both
quotations  appear  on  page  2  of  Macfarlane's  2  November
document.

CLAIM

First,  Macfarlane  noted  that in  BPI's  annual  report  and
accounts for the year ended 31 December 1998 Cameron McLatchie
stated:

'We  have already taken many of the steps necessary to improve
profitability and support our ongoing businesses  ..   We  are
confident that we are moving in the right direction.'

The  full  paragraph  from which this is  extracted  reads  as
follows:

'We  have already taken many of the steps necessary to improve
profitability  and  support our ongoing  businesses,  although
eliminating  the loss making activities is taking longer  than
anticipated.   We  will not shirk from any  additional  action
which  may be required.  Whilst market conditions continue  to
remain difficult, we do have the benefit of an extremely sound
balance  sheet  and continuing strong cash  flow,  which  will
support our determination to restore our past record of growth
in  shareholder value.  We are confident that we are moving in
the right direction.'

CLAIM

Secondly,  Macfarlane quoted Cameron McLatchie  from  the  BPI
interim  results  for the six months ended  30  June  1999  as
saying:

'.  we  are  convinced that the hiatus in our earnings  growth
will be remedied by the positive changes we have made over the
last few years .'

The  full  sentence  from which this  is  extracted  reads  as
follows:

'We  are committed to maintaining our final dividend,  and  we
are  convinced that the hiatus in our earnings growth will  be
remedied  by the positive changes we have made over  the  last
few years, and the understanding that we will continue to take
whatever steps are necessary to secure a strong future for our
Group.'

FACT

The   board  of  Macfarlane  continues  to  believe  that  BPI
shareholders  should question whether the  board  of  BPI  can
accurately   predict  BPI's  future  prospects   and   deliver
increased profits.  Macfarlane's document clearly demonstrates
that  many  of the claims made by BPI have not been  delivered
and profits have continued to fall.  Profit before tax for the
half  year  to  30 June 2000 fell to £4.8 million  from  £11.1
million  in the same period in the prior year - a decrease  of
57%.

                             BPI's profit before tax
                         First half            Full year
                                                   
        1996                14.3                 28.0
        1997                11.1                 23.2
        1998                11.3                 21.6
        1999                11.1                 19.2
        2000                 4.8                   ?
        2001                  ?                    ?
        2002                  ?                    ?

Macfarlane urges BPI shareholders to accept its offer  of  250
pence cash now.

Words and expressions defined in the Offer Document issued  on
behalf  of  Macfarlane  on  17 October  2000,  have  the  same
meanings in this announcement, unless otherwise indicated.


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

Beattie Media
Gordon Beattie                          01698 787878

Bell Pottinger
Kate Power                              020 7353 920

                               
Copies  of  the  Offer Document, Form of  Acceptance  and  the
document  sent  to  BPI shareholders on 2  November  2000  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  Offer  Document)   accept
responsibility   for  the  information   contained   in   this
announcement  save  that the only responsibility  accepted  by
them   in  respect  of  the  information  contained  in   this
announcement relating to BPI, the BPI group and the  directors
of  BPI,  which  has  been  compiled from  publicly  available
sources,  has  been to ensure that such information  has  been
correctly  and  fairly  reproduced  and  presented.   Save  as
aforesaid, 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 for which they accept responsibility 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
exclusively for Macfarlane and no one else in relation to  the
Offer  and  will not be responsible to any person  other  than
Macfarlane for providing the protections afforded to customers
of  Noble Grossart Limited or for giving advice in relation to
the  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.


                                                                                
                                                                                
                                                                                
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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