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Archive for April, 2005

AEP INDUSTRIES INC. AGREES TO SELL BUSINESSES ASSOCIATED WITH AEP INDUSTRIES (AUSTRALIA) PTY. LIMITED AND AEP INDUSTRIES (NZ) PTY. LIMITED SUBSIDIARIES

Wednesday, April 20th, 2005

Contact: Paul Feeney
Executive Vice President
and Chief Financial Officer
AEP Industries
(201) 807-2330
feeneyp@aepinc.com

SOUTH HACKENSACK, N.J., April 20, 2005 — AEP Industries Inc. (Nasdaq: AEPI) (the “Company”) today announces that it has, subject to closing conditions, entered into agreements to sell the businesses associated with its AEP Industries (Australia) Pty. Limited and its AEP Industries (NZ) Pty. Limited subsidiaries combined with most of the operating assets associated with these businesses to companies being formed by Catalyst Investment Managers Pty. Limited. Catalyst is a major investment manager operating in the Asia/Pacific region. It is expected that the transaction will close in May.

AEP Industries Inc. manufactures, markets, and distributes an extensive range of plastic packaging products for the food/beverage, industrial and agricultural markets. The Company has operations in eight countries throughout North America, Europe and Australasia .

Except for historical information contained herein, statements in the release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to differ materially from forecasted results. Those risks include, but are not limited to, risks associated with availability of raw materials, pricing, volume, cash flow guidance, potential technological changes, fluctuations in exchange rates and conditions of markets. Those and other risks are described in the Company’s filings with the Securities and Exchange Commission (SEC) over the last 12 months, copies of which are available from the SEC or may be obtained from the Company.