PPK GROUP LIMITED — AGM Information 2002

Nov 11, 2002

22 YALGAR ROAD KIRRAWEE NSW 2232 AUSTRALIA

TELEPHONE: (02) 9521 8444 FACSIMILE: (02) 9521 4561

P.O. BOX 297 JANNALI NSW 2226 AUSTRALIA

www.plaspak.com.au

12 November 2002

Company Announcements Office The Australian Stock Exchange Limited Level 4 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam,

Plaspak Group Limited - Annual General Meeting Re: Chairman's Address

Please find attached a copy of the prepared address by the Chairman of Plaspak Group Limited to be delivered to a meeting of security holders at 3pm today.

Yours faithfully

Robert Nicholls General Counsel & Assistant Company Secretary

Enc.

22 YALGAR ROAD KIRRAWEE NSW 2232 ALISTRALIA

TELEPHONE: (02) 9521 8444 FACSIMILE: (02) 9521 4561

P.O. BOX 297 JANNALI NSW 2226 ALISTRALIA

www.plaspak.com.au

12 November, 2002

Dear Shareholder

Continuing its sound performance over the last two years, Plaspak has achieved a record result for the year ended 30th June 2002.

The key performance indicators include:

• Profit Before Tax and individually significant items of $6.92 million which represents an increase of 35.7% over the previous year.
• Profit After Tax of $4.9 million, an increase of 48.5% on the 2001 year. $\bullet$
• dividends for the year increased to 6.0 cents per share fully franked with a second half dividend of 3.5 cents fully franked.

It is the Board's objective to continue achieving consistent growth in profits and to increase fully franked dividends.

The smooth start up of the newly contracted Colgate work during the 2002 year and the successful integration into the Group of the recently acquired Peteron Plastics contributed to profit growth in 2002 and will continue to do so in the 2003 year.

However, whilst the packaging market has continued its steady growth of 3-4% p.a. many companies have been affected, and continue to be affected, by the soft economic conditions and the worst drought on the eastern seaboard since 1902. In the first quarter, Plaspak, has been affected in its agricultural chemical and water packaging businesses. Sales by, and profit contributions from the Plaspak businesses producing packaging for these markets are both considerably lower in the first quarter than in the 2002 year. However, these businesses should rebound next year if and when the drought breaks.

In the interests of long term efficiencies Plaspak relocated its food packaging assets from Mordialloc in Melbourne to its Adelaide plant which has directly affected the profitability of these two businesses for the first two months of the first quarter.

Overall, these factors will affect the profitability of the group during the first half. It is anticipated that the results for the first six months will be in line with the corresponding period last year.

However, despite these economic adversities, Plaspak still sees opportunities in suitably priced acquisitions and further organic growth from existing customers and new tenders.

Plaspak remains confident of an improved performance in the second half. The outlook for the full 2003 year is continued profit growth although at a more modest rate than in 2002.

Colin RyanChairman