INTERTAPE POLYMER GROUP INC.
NYSE : ITP
TSX : ITP

INTERTAPE POLYMER GROUP INC.

September 05, 2007 18:42 ET

Results of Intertape Polymer Group Inc. Special Meeting of Shareholders

MONTREAL, QUEBEC AND BRADENTON, FLORIDA--(Marketwire - Sept. 5, 2007) - Intertape Polymer Group Inc. (NYSE:ITP)(TSX:ITP) ("IPG" or the "Company") announces that at a special meeting of its shareholders held today, Allan Cohen and Torsten A. Schermer were elected to the Board of Directors. Immediately after the shareholders' meeting, H. Dale McSween, the former interim Chief Executive Officer of IPG, resigned from the Board of Directors and Robert Beil was appointed to the Board to fill the vacancy. As a result, the Board of Directors of IPG now consists of six directors (Eric E. Baker, Melbourne F. Yull, George J. Bunze, Allan Cohen, Torsten A. Schermer and Robert Beil), a majority of whom are independent within the meaning of applicable securities legislation.

A total of 35,121,127 shares were represented at the meeting in person or by proxy, representing 85.6% of the Company's outstanding shares.

At the meeting, by a majority of almost 99%, shareholders also adopted a resolution waiving the application of IPG's Amended and Restated Shareholder Protection Rights Plan Agreement as it relates to the purchase by three shareholders of common shares pursuant to IPG's current rights offering. The three shareholders are Letko, Brosseau and Associates Inc., Wells Capital Management, Inc. and Brandes Investment Partners, L.P., each of which has entered into a Standby Purchase Agreement with IPG in connection with the rights offering.

The shareholders also adopted, by a majority of 71.7%, a resolution amending IPG's Executive Stock Option Plan, so as to set the maximum number of common shares that may be issued under the Plan at a number equal to 10% of the issued and outstanding common shares of IPG from time-to-time. The Board of Directors of IPG proposed the amendment to the Plan in light of the number of common shares expected to be issued pursuant to IPG's rights offering.

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 2,100 employees with operations in 17 locations, including 13 manufacturing facilities in North America and one in Europe.

Safe Harbor Statement

Certain statements and information included in this release constitute forward-looking information within the meaning of applicable Canadian securities legislation and the United States Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the Company's future outlook and anticipated events, the Company's business, its operations, its financial condition or its results. Particularly, statements about the Company's objectives and strategies to achieve those objectives, are forward-looking statements. While these statements are based on certain factors and assumptions which management considers to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results and 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. These forward looking statements include unknown risks and uncertainties, including the results of the Rights Offering by the Company and the Standby Purchase Agreements, disruption of normal management and business operations as a result of these activities, reliance on key personnel who may separate from the Company due to general attrition or due to uncertainties created by these activities, whether a new chief executive officer will be identified and appointed, and such other matters as contained in the Company's filings with Canadian securities regulators and the U.S. Securities and Exchange Commission. Therefore, future events and results may vary significantly from what management currently foresees. You should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it is under no obligation (and expressly disclaims any such obligation) and does not undertakes to update or alter this information at any particular time.

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