Ameriplas will not proceed with Special Resolution



    Trading Symbol: TSX-V: AHL

    VANCOUVER, Aug. 7 /CNW Telbec/ - Ameriplas Holdings Ltd. ("Ameriplas" or
the "Company") (TSXV : AHL) announces that it will not proceed with a Special
Resolution with respect to a proposal to purchase the Company's operating
subsidiary, Ameriplas International Inc. The Company included the Special
Resolution in the Information Circular with respect to the Annual General and
Special Meeting to be held by the Company on August 8, 2008 (see
www.SEDAR.com ).
    The Company has received an offer from a management group, including
directors of the Company, to purchase the operating subsidiary, Ameriplas
International, Inc. To achieve success as a public company it was the intent
of Ameriplas to expand its operations through the acquisition of other
companies in a similar business. The financial performance of the Company,
including cumulative net losses, has made investment capital difficult to
attract and curtailed the Company's ambition to acquire other companies. The
management group proposes to purchase all the assets of the subsidiary for
consideration of the assumption of all the liabilities of the Company and its
subsidiary, which is anticipated to be in the range of $2 million. The
Company's board of directors and management intend to seek an alternative
business opportunity for the shareholders.
    A valuation and fairness opinion, to be prepared by an independent
valuator, with respect to the proposed transaction has not been completed.
Management has therefore concluded that there is insufficient information
available to shareholders with respect to the proposed transaction and Special
Resolution. It is management's intent to commission the independent valuation
and fairness opinion and seek approval from the TSX Venture Exchange to
proceed with the transaction at a later date.

    AMERIPLAS OPERATIONS

    Ameriplas has been in the business of manufacturing plastic preforms for
the Canadian and U.S. water and soft drinks bottling industry since December
1999. Preforms are sold to beverage companies that heat and blow them into the
form of bottles used for their beverages. PET preforms are used industry wide
in the production of plastic beverage containers to avoid the costs and
difficulties of shipping bulky plastic bottles. A primary use of these bottles
is for bottled water, which is the fastest growing segment of the beverage
industry. Other uses include soft drinks, sports drinks and beer.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release
    %SEDAR: 00020146E




For further information:

For further information: Mr. Clement Lussier, President, (450) 346-7773,
sales@ameriplasinternational.com

Organization Profile

AMERIPLAS HOLDINGS LTD.

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