Essel Propack 's Global Sales register 32% growth in the Third Quarter ended September 30, 2006

Mumbai, October 18, 2006 : Essel Propack, the global leader in laminated tubes packaging, posted a significant growth of 32% in Net Sales, touching Rs. 2,769 Mn during the Third Quarter of 2006 over the corresponding quarter of 2005. During the quarter under consideration, EBIDT grew to Rs. 689 Mn marking 21% growth and Net Profit (before extraordinary item) grew to Rs. 279 Mn marking a growth of 20% over the corresponding quarter of 2005. The consolidated results of Q3 2006 when compared with the previous sequential quarter ended June 30, 2006, reflect a growth of 20% in Net Sales, 21% in EBIDT and 21% in Net Profit (before extraordinary item).

While announcing the Third Quarter results in Mumbai, Ashok Goel, the Vice Chairman & Managing Director said, "While registering a consistent growth, we have begun the expansion in plastic tubes business in the global arena. We have four revenue streams namely Laminated Tubes, Plastic Tubes, Medical Devices and Speciality Packaging Materials, thus giving us multiple opportunities for growth. Our objective is to grow along these verticals globally".

The business in all the regions continue to be robust and in line with expectations.

"We expect improved Sales Revenues by Q1 '07 from the expanded capacity from the Laminated and Plastic Tube operations in Europe", said R. Chandrasekhar, President, Essel Propack.

The Greenfield plant project of Plastic Tube in USA is on schedule and will be commissioned by year end.

The Medical devices business is doing well and one can expect improved revenues in the coming months.

Essel Propack, the largest speciality packaging company in the world, is promoted by Essel Group. Essel Propack, head quartered in India, manufacturers laminated tubes, plastic tubes, medical devices and speciality packaging materials. The Company provides tube packaging solutions to toothpaste, pharmaceuticals, cosmetics, toiletries, food and industrial sectors all over the world. In Medical Devices, the company manufactures cardio-vascular catheters and delivery systems. The Speciality Packaging Materials of the company caters to the food industry with definitive plans for meeting the needs of Pharma industry. The Company has state-of-the-art manufacturing facilities in 13 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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