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Macfarlane Group PLC (MACF)

Macfarlane Group PLC

Response to BPI
Macfarlane Group PLC
30 November 2000



                                PRESS RELEASE


  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES,

             CANADA, AUSTRALIA, THE REPUBLIC OF IRELAND OR JAPAN

                             MACFARLANE GROUP PLC

       INCREASED FINAL* CASH OFFER FOR BRITISH POLYTHENE INDUSTRIES PLC



The board of Macfarlane has noted BPI's announcement this afternoon.


John Ward, chairman of Macfarlane said:


'BPI's rejection of our increased cash offer contains statements which are
grossly misleading. Our offer of 310p for all BPI's shares whereas BPI's
tender offer is for only 30 per cent. of their shares and would leave BPI
shareholders with the majority of their shareholding trapped in
underperforming investment with questionable value.

BPI's focus on the tax implications of our proposal is laughable. BPI's board
has presided over a collapse in BPI's share price from 769p in 1997 to 137.25p
earlier this year. Few of BPI's shareholders have the luxury of a capital
gain.'


        *          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.


Words and expressions in previous Macfarlane documents and announcements have
the same meanings in this announcement, unless otherwise indicated.

        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 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 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 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 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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