Tekni-Plex, Inc. announced today that it has received the noteholder consents required to amend certain covenants and other provisions of the indentures governing its 11 1/4% Senior Subordinated Notes due 2007 (the “11 1/4% Notes”) and its 9 1/4% Senior Subordinated Notes due 2008 (the “9 1/4% Notes” and together with the 11 1/4% Notes, the “Notes”) and to waive certain of its obligations under the indentures pursuant to the consent solicitations and tender offers for the Notes launched on May 19, 2000 and. The supplemental indentures setting forth such amendments will be executed as soon as practicable after the consent solicitation expiration time. Under the terms of the tender offers and consent solicitations, each consent solicitation expiration time will occur as of 12:00 midnight, New York City time, today.

Tekni-Plex’s tender offer for the Notes remains open until 12:00 midnight, New York time, on June 16, 2000, unless extended or terminated. As described in the “Offer to Purchase and Consent Solicitation Statement” previously distributed to noteholders, (i) the tender offer price for the 11 1/4% Notes will be calculated based on the yield on the 6.625% U.S. Treasury Notes due April 30, 2002 as of 2:00 p.m., New York City time, on June 2, 2000, which was 6.580%, plus 50 basis points and (ii) the tender offer price for the 9 1/4% Notes will be calculated based on the yield on the 5.5% U.S. Treasury Notes due March 31, 2003 as of 2:00 p.m., New York City time, on June 2, 2000, which was 6.552%, plus 50 basis points. Assuming the payment date for the Notes is June 21, 2000, (i) the total consideration (which amount includes the consent payment of $20, if applicable) for each $1,000 principal amount of 11 1/4% Notes tendered will be $1,117.99, plus accrued interest to, but not including, the payment date and (ii) the total consideration (which amount includes the consent payment of $20, if applicable) for each $1,000 principal amount of 9 1/4 Notes tendered will be $1,091.27, plus accrued interest to, but not including, the payment date. The actual tender offer price and the total consideration will be calculated as of the actual payment date.

The tender offers and consent solicitations have been undertaken in connection with the proposed recapitalization of Tekni-Plex. The acceptance for purchase of Notes validly tendered in connection with the tender offer is expected to occur immediately prior to the closing of the recapitalization.

Noteholders who have any questions or would like copies of the “Offer to Purchase and Consent Solicitation Statement,” the Letter of Transmittal and Consent or Notice of Guaranteed Delivery should contact MacKenzie Partners, Inc., the information agent, at (800) 322-2885.

Tekni-Plex is a Delaware corporation with headquarters in Somerville, New Jersey. Tekni-Plex is a global, diversified manufacturer of packaging, products, and materials for the healthcare, consumer, and Food Packaging industries. Tekni-Plex has built a leadership position in its core markets and focuses on vertically integrated production of highly specialized products. Its operations are aligned under four primary business groups: Healthcare Packaging, Products, and Materials; Consumer Packaging and Products; Food Packaging; and Specialty Resins and Compounds.