Essel Propack announces entry into Poland

Mumbai, August 2, 2006: Essel Propack, world?s leading speciality packaging company and the largest manufacturer of laminated tubes, has announced the plans for setting up manufacturing operations in Poland. This plant will be its 25th globally, extending the company?s geographical reach into a 15th country. The new plant will be under the brand Arista Tubes, UK, the leading manufacturer of plastic tubes in UK and Europe. The plant will be operational during March 2007. This plant will primarily cater to the Cosmetics and Toiletries industry of Europe.

Announcing the significant strategic move in Mumbai, Ashok Goel, the Vice Chairman and Managing Director of Essel Propack said, ?Our strategic intent, as we have expressed earlier, is to focus our energies on Europe for enhanced growth. Moreover, plastic tubes is the path we have chosen for inducing this growth. I am very happy to announce the setting up of this new facility that will help us to expand and consolidate our presence in the region.? Jeremy Paul, Global Head ? Plastic Tubes, who will be driving the implementation of this project said, ?Europe is the largest market for plastic tubes globally. Also, Poland is the largest market in Eastern Europe exhibiting a faster growth rate than the rest of Europe. Hence, Poland is the ideal location for tapping the potential of Europe. ?

The plant in Poland is Essel Propack?s fourth new venture during the last 2 years. This move is a part of Essel Propack?s global vision to establish itself as a leading player in plastic tubes across all geographies by 2010 with 20% market share. The plant will be set up with a capital cost of 23 Million USD, which will be partly funded by operating leases and partly by debt.

Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated and plastic tubes. The Company provides packaging solutions to toothpaste, pharmaceuticals, cosmetics, food and Industrial sectors all over the world. In April 2006, the Company forayed into Medical Devices business. The Company has state-of-the-art manufacturing facilities in 14 countries with 24 plants across the globe. Essel Propack?s stock is listed on the Bombay Stock Exchange and the National Stock Exchange.

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