PPK GROUP LIMITED — M&A Activity 2002

Dec 23, 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

24 December 2002

Company Announcements Office Australian Stock Exchange Sydney

By Facsimile: 1300 300 021

ACQUISITION OF COSPAK GROUP OF COMPANIES

On 24 December 2002, Plaspak entered into a conditional contract to acquire the Cospak Group of companies. Cospak is a Sydney based group involved in the importation, distribution and manufacture of glass and plastic packaging products.

The Cospak Group has an annual turnover of approximately $100 million and a projected EBIT of $7.4 million for the 2003 year. It is the largest importer of glass packaging in Australasia with operations in Western Australia, New South Wales, South Australia, Queensland, Victoria and New Zealand.

It is projected that the acquisition will be immediately earnings per share positive and will allow Plaspak further growth opportunities in the general packaging market.

The contract is subject to numerous conditions precedent which include:

• ¢ satisfactory due diligence; and
• shareholder approval of a placement of shares to provided partial funding for the acquisition.

It is anticipated that the due diligence and compliance with other conditions precedent will be completed by mid February 2003. At that time, arrangements will be implemented for the holding of the required shareholders meeting and additional relevant information will be provided to shareholders and the market.

Robert Nicholls. Assistant Company Secretary for and on behalf of Jury Wowk, Company Secretary