Business News

Intertape Polymer Group Receives Listing Standard Notice From the NYSE

Thursday 05. February 2009 - Intertape Polymer Group Inc. (TSX:ITP)(NYSE:ITP) ("Intertape" or the "Company") today announced that it has received a notice from the New York Stock Exchange ("NYSE" or the "Exchange") that it is not in compliance with the Exchange's listing standards because the 30-trading-day average closing price of Intertape's stock dropped below $1.00.

Intertape now has six months to cure this deficiency before the NYSE initiates suspension and delisting procedures. During the six month cure period, Intertape’s stock will continue to be listed on the NYSE, however the stock symbol will be assigned a “.BC” indicator to reflect that the Company is not in compliance with the Exchange’s listing standard. The Company intends to cure the deficiency and will consider all alternatives available to it.

Eric E. Baker, Chairman of the Board of Directors, stated “Clearly our stock price has been impacted significantly by the current economic conditions and volatile financial markets. We continue to implement operational changes to mitigate these factors.”

Mr. Baker added, “It should be noted that in the event the Company’s stock is not listed on the NYSE, it would not constitute a default under the Company’s credit facility or Indenture. Further, delisting would not affect Intertape’s operations or change its reporting requirements with the Securities and Exchange Commission.”