Ameriplas Holdings Ltd.

Ameriplas Holdings Ltd.

March 23, 2005 15:09 ET

Ameriplas Advanced Funds to Limited Partnership


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AMERIPLAS HOLDINGS LTD.

TSX VENTURE SYMBOL: AHL

MARCH 23, 2005 - 15:09 ET

Ameriplas Advanced Funds to Limited Partnership

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2005) - Ameriplas
Holdings Ltd. ("Ameriplas" or the "Company") (TSX VENTURE:AHL) announces
that the Company's wholly owned subsidiary, Ameriplas International Inc.
("Ameriplas International"), has signed a loan arrangement with a
limited partnership to formalize advances previously made for the
construction of the Company's new facilities at St. Jean-sur-Richelieu,
Quebec. Ameriplas International is the general partner of the limited
partnership and two of the Company's directors, Messrs Clement Lussier
and Andre Lussier, are the limited partners.

The funds advanced to the limited partnership are non-interest bearing
with no specific terms of repayment. The limited partnership will not
pay any funds out to Messrs Clement or Andre Lussier, the limited
partners. Ameriplas International pays rent to the limited partnership
as the tenant of the facility, manages its operations on a day to day
basis and pays for all leasehold improvements made to the facilities.
The limited partnership will be wound up and the assets transferred to
Ameriplas International for no further consideration when both parties
determine that it is most beneficial and as specified in the lease
contract between the limited partnership and Ameriplas International.

The limited partnership also has a $650,000 loan from the BDC which was
used to buy the land and construct the facilities for the Company.
Ameripals International has guaranteed the loan and Messrs Clement and
Andre Lussier have personally guaranteed the loan.

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 made from plastic PET (polyethylene
teraphthalate) pellets and 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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Ameriplas Holdings Ltd.
    Mr. John Kuehne
    Investor Relations
    (250) 380-2274
    or
    Ameriplas Holdings Ltd.
    Mr. Frank Quniby
    Investor Relations
    (250) 380-2274
    or
    Ameriplas Holdings Ltd.
    Mr. Clement Lussier
    President
    (450) 346-7773
    ameriplas@sympatico.ca
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.