also available on our internet site     Overview 1. COMMERCIAL ACTIVITIES & MARKETING (July 20th, 2007) next stage: 2. In depth discussion: wet wipes and cosmetic packaging products (September 21st, 2007) 3. In depth discussion: vacuum packing and MAP (modified atmosphere packaging) (October 22nd, 2007)

Informative n°2, 07/20/07 - page 2/12     Overview N° 2 20/7/ Introduction, Commercial activities & Marketing

Informative n°2, 07/20/07 - page 3/12     SIPA HOLDING GROUP owns 100% of Neophane’s shares. The group includes: - SIPA Industriale S.r.l., Pregnana Milanese (Italy), production of co-extruded low and high density polyethylene up to 5 layer. Flexo print, up to 8/10 colours, of polyethylene (other films available); -ILPACK Werk A.G., Mendrisio (Switzerland), production of low and high density polyethylene bags for the large-scale retail trade. Flexo print, up to 8 colours. -KENMARE H.K., Mendrisio (Switzerland), import and distribution of bags and shoppers for the large-scale retail trade, from third party suppliers.

Informative n°2, 07/20/07 - page 4/12     NEOPHANE S.p.A. PRODUCTION CAPACITY: Print and lamination, on 3 shifts, of 2 million linear meters, per week ANNUAL SALES 2006: € 28,700,000 PROJECTED SALES 2007: € 31,000,000 WORKFORCE: 103, of which: 80 in the production departments, 13 in the commercial, administration and other service offices, 10 in the technical service.

Informative n°2, 07/20/07 - page 5/12     NEOPHANE’s activities Neophane’s activity is based on the converting of plastic films, aluminium and paper, printing gravure up to 9 colours, and lamination in line as well as out of line, using either solvent or solventless adhesives. Common films processed: -Bi-oriented and cast Polypropylene- Polythene -Polyester- Polystyrene -Bi-oriented and cast Polyamide- Aluminium -Cellophane and PVC- Paper The above mentioned materials are supplied either unprinted or printed, metallised or transparent, as single web or laminated with 3 or more layers. The final product can be supplied in reels, sheets, bags or sleeves.

Informative n°2, 07/20/07 - page 6/12     Commercial activity Neophane has been working In flexible packaging, either with printed or clear film, for more than 40 years. The recent history has been characterised by constant effort to develop highly innovative products and highly valued services in order to cope with a varied and highly demanding market. Thanks to this, Neophane has gained a leading role in domestic and worldwide market, as testified by our varied and numerous customer base.

Informative n°2, 07/20/07 - page 7/12     MARKETS

Informative n°2, 07/20/07 - page 8/12     Neophane’s commercial structure is composed of both direct and indirectly employed sales people, working in Italy, Europe, Africa and North America. The Customer Service is staffed by experienced multi-lingual employees working at our office in Rho (MI). In order to perform in the best possible way, Neophane’s Commercial management collaborates closely with the Technical and Quality Assurance teams pre- and post-selling. In addition we have two Laboratories for the quality control of raw materials, work in progress and finished goods. The graphic department ensures a total match of our printing to customer’s demands and requirements. COMMERCIAL STRUCTURE

Informative n°2, 07/20/07 - page 9/12     High quality of base webs to guarantee high quality products This is one of the most important principles of Neophane’s business policy. The constant research into technological development of base materials is extremely important to choose the most suitable base film for manufacturing products which can provide optimum results on the final finished products. Quality, also, means respect of the environment and health of the consumers. In Europe, Neophane was one of the first company to use mainly solvent less adhesives for laminating in line and to install a solvent recycling plant to avoid air pollution. During each process in manufacturing, every single material is checked to avoid contamination of any kind.

Informative n°2, 07/20/07 - page10/12     To adopt, to adapt, to improve Through close and constant dialogue with it’s customers, Neophane uses it’s know how and experience to get the best fit of raw materials to the customer’s processing conditions Good management of Human Resources is a high priority at Neophane to ensure consistency and reliability Big technological investments allow the manufacturing of different types of films and structures either for food and non food sectors. Neophane is a modern Company in the vanguard of the industry and has obtained all the necessary certifications to operate in the international market: - UNI EN ISO 9001: BRC-IoP Modernisation and research are continuous investments to reach new targets and to win more and more important and prestigious sectors of the market.

Informative n°2, 07/20/07 - page11/12     Versatility in production for every type of product Experience,know-how, range of materials, a highly skilled workforce & technical staff, give Neophane great versatility in production and ability to satisfy all kinds of needs wet wipes, refresher towels and cosmetics vacuum and modified atmosphere packaging cold-seal and countline flow-pack high barrier powders, liquid and coffee sleeves backed products cold line products crisps and snacks, candies – transwrap pet-food

also available on our Internet site since Sept.21th     Overview Next step on September 21 st, Wet wipes and cosmetic line