RW Packaging Ltd.

RW Packaging Ltd.

February 22, 2008 13:15 ET

RW Packaging Provides Update on Going Private Transaction

WINNIPEG, MANITOBA--(Marketwire - Feb. 22, 2008) - RW Packaging Limited ("RWP") (TSX VENTURE:RWP) announced today that, at its special meeting of shareholders held on February 21, 2008, its shareholders approved, on a "majority of the minority" basis, a special resolution approving: (i) the consolidation of the issued and outstanding common shares ("Shares") of RWP on the basis of a ratio to be determined by the board of directors of RWP; (ii) the filing of an application to the TSX Venture Exchange ("TSXV") to delist the Shares from the TSXV; and (iii) the filing of applications to applicable securities regulatory authorities for an order declaring that RWP is no longer a reporting issuer for the purposes of applicable securities laws.

RWP also announced today that over 1.1 million Shares were tendered pursuant to its substantial issuer bid. RWP will take up and pay for all of the tendered Shares on or before February 29, 2008. Following the take-up and payment of the Shares, RWP will determine the ratio to be applied to the Share consolidation. The completion and timing of the Share consolidation, and delisting of the Shares, is subject to the approval of the TSXV.

RWP expects to make a further public announcement regarding the status of its going private transaction, including the Share consolidation ratio, in early March, 2008.

RW is GMP licensed and ISO 9001 registered. The Company blends and packages liquid and powder private brand consumer products for major retailers and national brand marketers across North America.

Additional information relating to the Company is available online at or the Company's website at

Shares Issued 6,587,680

The TSX Venture Exchange has not reviewed, and does not accept responsibility for, the adequacy or accuracy of this release.

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