IPL Inc.

IPL Inc.

October 15, 2010 14:55 ET

IPL Announces the Completion of the Amalgamation of IPL With Certain Affiliates of Novacap and the Fonds de solidarite (FTQ)

SAINT-DAMIEN, QUÉBEC--(Marketwire - Oct. 15, 2010) - IPL Inc. (TSX:IPI.A) ("IPL"), one of North America's leading manufacturers of plastic products, announced that the proposed amalgamation of IPL with certain affiliates of Novacap and the Fonds de solidarité FTQ (the "Amalgamation"), was completed today.

The completion of the Amalgamation follows the previously announced approval of the Amalgamation by the holders of multiple voting shares of IPL (the "Shareholders") at the special meeting of Shareholders held on October 12, 2010.

Pursuant to the Amalgamation, each Shareholder will receive one redeemable share (an "Amalco Redeemable Share") of the amalgamated company for each multiple voting share of IPL held immediately prior to the Amalgamation. Immediately upon the Amalgamation, each Amalco Redeemable Share will be redeemed for $6.50 payable in cash by the amalgamated company.

The multiple voting shares of IPL are being delisted from the TSX and IPL will become a private company continuing under the name IPL Inc.

IPL, Novacap and the Fonds de solidarité FTQ will hold a press conference at 1:00 p.m. on Monday October 18, 2010 at its plant in Saint-Damien. Until then, IPL does not intend to make any additional comment.

About IPL

IPL is one of the leading North American producers of moulded plastic products through injection and extrusion for various industrial manufacturing sectors. IPL employs close to 900 people in its four plants located in Saint-Damien, Saint-Lazare and Lawrenceville (Québec), and Edmundston (New Brunswick). The Company manufactures and markets over 400 products for the packaging, materials handling and environment sectors. IPL also provides highly technical value-added custom moulding services for the transport industry, as well as for various industrial uses. Further information about IPL is available at www.ipl-plastics.com.

About Novacap

With over $790 million in assets under management, Novacap is one of Canada's leading private equity and venture capital firms. Since 1981, its partnership strategy has helped over 50 companies accelerate growth and maximize value. Novacap is one of North America's top private equity firms, with first-quartile returns in North America. Further information about Novacap is available at www.novacap.ca.

About the Fonds de solidarité FTQ

The Fonds de solidarité FTQ helps drive our economy. With net assets of $7.3 billion as at May 31, 2010, the Fund is a development capital investment fund that channels the savings of Quebecers into investments in all sectors of the economy to help further Québec's economic growth. The Fund is a partner, either directly or through its network members, in 2,052 companies. With its 577,511 owner-shareholders, it has helped, on its own or with other financial partners, to create, maintain and protect 150,133 jobs. For more information, visit www.fondsftq.com.

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