Ameriplas Holdings Ltd.

Ameriplas Holdings Ltd.

March 18, 2005 17:00 ET

Ameriplas Implements Cash Management Program


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: AMERIPLAS HOLDINGS LTD.

TSX VENTURE SYMBOL: AHL

MARCH 18, 2005 - 17:00 ET

Ameriplas Implements Cash Management Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 18, 2005) - Ameriplas
Holdings Ltd. ("Ameriplas" or the "Company") (TSX VENTURE:AHL) announces
that it has implemented a program to improve its cash flows and that it
will implement a formal cash management program, assisted by Mr. Robert
Doyle of Pacific Opportunity Capital Ltd. ("Pacific").

Ameriplas has been under a working capital crunch due to a default by a
major customer and the subsequent reduction of the Company's operating
credit facility at its bank. While the reduction of the line of credit
by $450,000, to under $200,000, is a positive event for the company in
the long-run, it has caused short term difficulties.

In conjunction with Ameriplas, Pacific will work to decrease accounts
receivable, to increase the available cash, to control and direct cash
resources toward sales that maximize cash returns and to work toward
volume pricing to reduce the cost of materials. The target of the cash
flow plan is to allow Ameriplas to use percentage of its available cash
flow to increase production and the remaining amount to pay down
accounts payable as soon as possible. The Company is committed to
purchasing only with available cash.

The assistance provided by Pacific will also have a strategic benefit of
allowing the principals of Ameriplas to return to the intended 2004
focus, i.e. increasing sales to utilize available plant capacity and
improving production efficiencies.

A Director of Ameriplas, Mr. Mark T. Brown C.A. is also the President of
Pacific.

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.