PRO-PAC PACKAGING LIMITED — Capital/Financing Update 2008

Nov 4, 2008

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5 November 2008

PRO-PAC PACKAGING (PPG) SECURES MAJOR STAKE IN SYDNEY PACKAGING MARKET

ASX listed national packaging group Pro-Pac Packaging Limited (ASX:PPG) today announced that it had acquired the business and assets of Fastway Industrial Products Pty Limited.

Fastway is a western Sydney based, privately owned company providing packaging solutions to a diverse range of companies. Fastway operates from a modern facility in close proximity to Pro Pac’s Wetherill Park Head Office. The Fastway business is very synergistic with ProPac’s industrial packaging division. Fastway is a preferred supplier amongst its customer base.

Pro-Pac’s purchase of Fastway will be funded from the Company’s existing cash resources and debt facilities. The acquisition will contribute in excess of $5 million in additional revenue, on an annualised basis. The acquisition of Fastway is forecast to be earnings accretive in the current financial year.

Commenting on the acquisition of Fastway, Pro-Pac’s Chairman, Mr. John Read, said “ The Fastway acquisition fits perfectly with Pro-Pac’s growth strategy based on the acquisition of complementary industrial packaging solution businesses. The acquisition of Fastway will have immediate benefits for our Sydney operations, expanding our customer and product bases and consolidating Pro-Pac’s position as a leading national provider of packaging solutions.”

For further information, please contact Ms. Wendy Penn, Interim CEO, Pro-Pac Packaging Limited Tel (02) 8787 1900 or Mbl 0417 452 103.

ENDS

Pro-Pac Packaging Limited ACN 112 971 874

9 Widemere Road, Wetherill Park NSW 2164 P.O. Box 6205 WPBC, Wetherill Park NSW 2164 Tel: 02 8787 1955 Fax: 02 8787 1989 www.pro-pac.com.au