"We are pleased that AEP has received Court approval to purchase the Plastic Films segment of Atlantis and look forward to completing this transaction at the end of the month," said Brendan Barba, Chairman and Chief Executive Officer of AEP Industries. "The Plastic Films segment represents a unique strategic opportunity to continue to build long-term value for our shareholders by enhancing our position as the preferred supplier of flexible packaging solutions. The Plastic Films segment immediately enhances the value of our business portfolio by strengthening our suite of products and services to meet the demands of both companies' customers."

Bud Philbrook, Chief Executive Officer and President of Atlantis Plastics, said, "The approval of AEP as the winning bidder gives us confidence in the future of the Plastic Films segment and its ability to continue meeting customers' needs. We believe the customers and employees of this division will have a good home at AEP."

As previously announced, AEP intends to finance the transaction through a combination of cash on hand and availability under its revolving credit facility. Following the close of the transaction, the Plastic Films segment will be part of AEP's stretch and custom films divisions. The Plastic Films segment operates six manufacturing facilities throughout the United States.

About AEPI

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 the United States and Canada.

Except for historical information contained herein, statements in this 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 reflect management's current views with respect to future events and financial performance. Actual events and results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, risks associated with general economic conditions, the operations of Atlantis Plastics, Inc. in bankruptcy, the bankruptcy proceedings, and other risks described in the Company's annual report on Form 10-K for the year ended October 31, 2007 and subsequent filings of the Company with the Securities and Exchange Commission (SEC). Except as required by law, the Company assumes no obligation to update the forward-looking statements, which are made as of the date hereof, even if new information become available in the future.

    Contacts:
    Paul M. Feeney
    Executive Vice President, Finance
    and Chief Financial Officer
    AEP Industries Inc.
    (201) 807-2330
    feeneyp@aepinc.com

SOURCE AEP Industries Inc.

Atlantis Plastics, Inc. is a leading U.S. manufacturer of polyethylene stretch and custom films and molded plastic products. Stretch films are used to wrap pallets of materials for shipping or storage. Custom films are made-to-order specialty film products used in the industrial and packaging markets. Atlantis' injection molded and profile extruded plastic products are used primarily in the appliance, automotive, agricultural, building supply, and recreational vehicle industries.

    For more information, please visit http://www.atlantisplastics.com

    FOR FURTHER INFORMATION:
    Paul G. Saari
    Chief Financial Officer
    (800) 497-7659

SOURCE Atlantis Plastics, Inc.

http://www.atlantisplastics.com

"This is a compelling strategic opportunity for AEP and is consistent with our efforts to create additional long-term value for shareholders by enhancing our position as the preferred supplier of flexible packaging solutions," said Brendan Barba, Chairman and Chief Executive Officer of AEP Industries. "The Plastic Films segment complements our existing business portfolio. By bringing together two industry leaders, we will have an even stronger suite of products and services to meet the unique needs of both companies' customers. We have long respected the team at Plastic Films and welcome them to AEP."

Bud Philbrook, Chief Executive Officer and President of Atlantis Plastics, said, "We are pleased to have entered into this agreement with AEP, a company that shares our commitment to standard-setting product performance, customer care and innovation. We are confident that by being part of a strong, well- capitalized company, the Plastic Films segment will be better positioned to meet customers' future needs."

Following the close of the transaction, the Plastic Films segment will be part of AEP's stretch and custom films divisions. The Plastic Films segment operates six manufacturing facilities throughout the United States.

The transaction, which is expected to close in the fourth calendar quarter of 2008, is subject to higher or better offers that may be submitted by competing bidders in connection with a process conducted under the supervision of the United States Bankruptcy Court for the Northern District of Georgia in connection with Atlantis' voluntary petition for Chapter 11 protection, as well as other customary closing conditions. If a higher or better offer is submitted, an auction will be conducted, in which case the terms of the agreement may change. AEP Industries plans to finance the transaction through a combination of cash on hand and availability under its revolving credit facility.

About AEPI

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 the United States and Canada.

Except for historical information contained herein, statements in this 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 reflect management's current views with respect to future events and financial performance. Actual events and results may differ materially from those expected because of various risks and uncertainties, including, but not limited to, risks associated with general economic conditions, the operations of Atlantis Plastics, Inc. in bankruptcy, the bankruptcy proceedings, and other risks described in the Company's annual report on Form 10-K for the year ended October 31, 2007 and subsequent filings with the Securities and Exchange Commission (SEC). Except as required by law, the Company assumes no obligation to update the forward-looking statements, which are made as of the date hereof, even if new information becomes available in the future.

    Contacts:
    Paul M. Feeney
    Executive Vice President, Finance
    and Chief Financial Officer
    AEP Industries Inc.
    (201) 807-2330
    feeneyp@aepinc.com

SOURCE AEP Industries, Inc.