November 15, 2005 15:26 ET

Intertape Polymer Group Inc. Reacquires Common Shares

MONTREAL, QUEBEC and BRADENTON, FLORIDA--(CCNMatthews - Nov. 15, 2005) - Intertape Polymer Group Inc. (TSX:ITP)(NYSE:ITP) today announced that it has reacquired and will cancel 250,587 of its common shares which had been held in escrow in connection with the acquisition of Olympian Tape Sales Inc. d/b/a United Tape Company in 2000. The shares had been held in escrow pending the resolution of certain third party legal claims arising from the acquisition. As a result of the resolution of such claims and the related expense incurred in connection therewith, Intertape became entitled to reacquire the escrowed shares.

Andrew Archibald, C.A., Chief Financial Officer, stated that "When, as a result of the amicable resolution of certain post closing matters these shares became available, the Company elected to cancel them rather than have them sold into the market. These shares were acquired outside of the scope of our normal course issuer bid pursuant to the terms of the agreements entered into at the time of the acquisition."

About Intertape Polymer Group

Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota/Bradenton, Florida, the Company employs approximately 3,000 employees with operations in 19 locations, including 14 manufacturing facilities in North America and one in Europe.

Safe Harbor Statement

Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward-looking statements, including its earnings outlook.

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