PPK GROUP LIMITED — M&A Activity 2005

Jan 23, 2005

25-27 WARATAH STREET KIRRAWEE NSW 2232 AUSTRALIA

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

PO BOX 297 JANNALI NSW 2226 AUSTRALIA

www.plaspak.com.au

24 January 2005

Company Announcements Office Australian Stock Exchange Limited

FOR RELEASE TO THE MARKET

Plaspak Group Limited ("Plaspak") Takeover offer for York Group Limited ("York")

At the close of business on Friday 21 January 2005, Plaspak held 11,209,426 York shares representing 39.46% of the total issued capital.

Plaspak has in particular noted the following statements made in York's Target's Statement dated 20 December 2004:

• $1.$ "Your Directors recommend that you ACCEPT the Plaspak Group Limited Offer in the absence of a superior offer."
• $2.$ "The largest York Shareholder as at the date of this Target's Statement is Blue Chip, which has a relevant interest in York of 40.14%. Iain Gray, a director of Blue Chip, has indicated that Blue Chip will accept the Offer in the absence of a superior offer."
• "The next largest shareholder is Whiskey, which has a relevant interest in York of $\overline{3}$ . 8.88%. Ian Carter, a director of Whiskey, has indicated that Whiskey will also accept the Offer in the absence of a superior offer."

Plaspak also notes York's letter to its shareholders dated 21 January 2005, the content of which is consistent with items 1-3 above.

The Plaspak offer closes on 31 January 2005.

Pursuant to Section 624(2) of the Corporations Act, the closing date of Plaspak's offer will automatically extend by 14 days if on or before 31 January 2005 Plaspak acquires more than 50% of the total issued capital of York.

Unless automatically extended pursuant to Section 624(2) (or unless another potential bidder lodges or announces a competing takeover bid, in which event Plaspak reserves its right pursuant to Section 649C to decide whether or not to extend its offer), Plaspak is not extending its offer beyond the current closing date of 31 January 2005.

For and on behalf of Plaspak Group Limited

bolya

Colin Ryan Chairman

Contact regarding this announcement:

Mr Robert Nicholls, Company Secretary (02) 9521 8444