AMCOR PLC — Earnings Release 2007

Aug 28, 2007

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For immediate release:

Wednesday, August 29, 2007

AMCOR ANNOUNCES PROFIT RESULT FOR FULL YEAR ENDED JUNE 30, 2007 AND $350 MILLION ON-MARKET SHARE BUY-BACK

Highlights

• Profit after tax and significant items up 52% to $533.7 million.

• Profit after tax and before significant items down 2.2% to $397.0 million.

• Earnings per share, before significant items, of 44.2 cents.

• Operating cash flow of $643.9 million.

• Final dividend of 17 cents per share, giving a full year dividend of 34 cents per share.

• Free cash flow, after the payment of the dividend of $324.7 million.

• An on-market share buy-back of $350 million, which is approximately 6% of Amcor’s shares.

In announcing the result, Amcor’s Managing Director and CEO, Ken MacKenzie, said: “Profit for the year of $397 million was a very solid result.

“In particular, the second half performance, where profit was up 10.7% over the same period last year, is a clear indication that the benefits from the hard work of the past two years is now being reflected in higher profits and most importantly, this trend is likely to continue.

“The operating cash flow result of $643.9 million was an outstanding outcome and follows on from a positive $522.3 million in the previous year. The key drivers of this performance were the substantial reduction in working capital and ongoing improvements in capital expenditure discipline.

“Working capital for the year reduced by $256.7 million with all the business units contributing to the improvement.

Amcor Limited ABN 62 000 017 372 679 Victoria Street Abbotsford Victoria 3067 Australia Tel: 61 3 9226 9000 Fax: 61 3 9226 9050

www.amcor.com

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“The proceeds from asset sales, together with the free cash flow have resulted in a positive cash inflow of $1.6 billion over the past two years. Given the outlook for the capital needs going forward, the company has decided to undertake an on-market share buy-back of $350 million.

“Following the share buy-back gearing, measured as debt over debt plus equity, will be at the lower end of the target range of 45% to 50%.

“The PET packaging operations had a very strong second half with profit up 35% for that period. This was due to a combination of strong volumes, particularly in the custom hotfill category and substantially higher profit from the operations in Mexico.

“The $80 million US investment in a new hot-fill PET plant in Wytheville, Virginia, supplying, predominately, Gatorade[TM] bottles for PepsiCo, commenced operations in April. This customer-dedicated facility, adjacent to the new PepsiCo plant, has had an excellent start up and is now manufacturing at planned capacity.

“Amcor Flexibles delivered a solid performance with profit 11% higher in the second half of the year, compared to the same period in 2005/06, benefiting from a wide range of initiatives implemented over the past 12 months.

“The Australasian business had a mixed year with improved earnings in the beverage can and wine glass businesses, however earnings were lower in the fibre operations.

“There has been excellent progress in ‘The Way Forward’ agenda over the past 12 months. The portfolio review has progressed and the European PET business has been sold. The company is continually reviewing its portfolio of businesses with the aim of improving shareholder value and the asset sales of the past year have been part of this process.

“The turnaround program in Mexico delivered an excellent improvement in profit of US$ 9 million. The new management team have undertaken a complete overhaul of the business. Three blowmolding facilities have been closed, headcount reduced by 20% and there have been significant improvements in operational performance.

Outlook

“The outlook for the company is positive. The past two years have focused on execution and building capabilities across the organisation. These improvements have been instrumental in creating a new performance orientated culture that will be a key driver in ensuring that the progress of the past two years continues.

“From an earnings perspective, there is anticipated improvements in all the business units and profit on a continuing business basis, is expected to increase.”

Amcor Limited ABN 62 000 017 372 679 Victoria Street Abbotsford Victoria 3067 Australia Tel: 61 3 9226 9000 Fax: 61 3 9226 9050 www.amcor.com

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ENDS

For further information and comment please contact:

Mr Ken MacKenzie Managing Director and CEO Amcor Limited Ph: +61 3 9226 9001

Mr John Murray Executive General Manager Corporate Affairs Amcor Limited Ph: +61 3 9226 9005

Amcor Limited ABN 62 000 017 372 679 Victoria Street Abbotsford Victoria 3067 Australia Tel: 61 3 9226 9000 Fax: 61 3 9226 9050 www.amcor.com