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British Polythene (BPI)

British Polythene

Offer Update
British Polythene Industries PLC
18 December 2000

                                
                British Polythene Industries PLC
                                
                      Macfarlane bid lapsed

The  board  of British Polythene Industries PLC ('BPI'  or  'the
Company')  notes  the latest statement made by Macfarlane  Group
PLC  ('Macfarlane') that its offer for BPI at  310p  per  share,
which  received  support in respect of  35.1%  of  BPI's  issued
shares, has lapsed.

BPI  wishes to thank its shareholders, both large and small, for
their  support during what has been a challenging time  for  the
Company.   The Company will shortly be posting documentation  to
its  shareholders relating to the return of capital proposed  on
21 November 2000.

Cameron McLatchie, Chairman of BPI, said today:

'From  start  to finish, our defence was based  on  value.   The
board has always been and continues to be prepared to enter into
discussions with any party who proposes making an offer for  the
group  at  a  level  which, in the board's view,  would  enhance
shareholder  value.  The board looks forward to the future  with
confidence.'

Enquiries:

BPI                 Cameron McLatchie               01475 501000
                    Chief Executive                                       
                                                       
Greenhill & Co.     Simon Borrows                   020 74400400
                                                    
                                                       
Financial           Tim Spratt                      020 78313113
Dynamics                                               

Greenhill & Co. International Limited ('Greenhill & Co.'), which
is regulated in the United Kingdom by The Securities and Futures
Authority  Limited,  is  acting  for  BPI  and  no-one  else  in
connection with the offer, and will not be responsible to anyone
other  than  BPI  for  providing  the  protections  afforded  to
customers  of  Greenhill  &  Co., or  for  providing  advice  in
relation  to the offer.  This announcement has been approved  by
Greenhill  & Co. for the purposes 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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