British Aerosol Manufacturers' Association

ColepCCL S.A., a major European supplier of aerosol based products for the personal care, beauty, healthcare and homecare markets, and a pan-European player in the can-making industry, today announced that it has signed agreements that will lead to the acquisition of Czewo Full Filling Service GmbH (Czewo).

Czewo is an international company, operating in similar market segments to ColepCCL, with 40 years of experience in contract manufacturing and contract filling of aerosols and liquid products. The company had sales of 140 million Euros in 2007 and employs approximately 650 people in its 3 German plants. It has experienced significant growth since its acquisition, in 2005, by Argantis GmbH, a professional private equity partner to Germany's small and mid cap companies.

The acquisition of Czewo by ColepCCL enables these two manufacturers, both partners of major brand-owners, to complement and further expand their respective strengths. By leveraging on its increased scale and geographical spread the new company will be able to offer better security of supply and speed to the market. Through the optimisation of processes, exchange of best practices and continuous investment in Innovation, the new company will be better equipped to serve the growing outsourcing needs of the industry.

Within a global framework, the business will continue to be managed by local teams ensuring that they remain focused on specific customer needs and future partnership opportunities.

The new company will have combined sales of approximately 520 million Euros, will operate in 5 countries across 9 manufacturing sites, and will employ 2,800 people.

Building on the success story of its foundation, ColepCCL sees this acquisition as a strategically important milestone to fulfil its mission of providing value to its customers by strengthening the industries in which it operates.

Closing, which is expected to occur by the end of September 2008, is subject to regulatory approvals. Until closing date both companies will continue to be managed separately and independently by their respective management teams.

It is envisaged that upon completion, the new group of companies will adopt a new company name reflecting the values and vision of the new joint ColepCCL and Czewo entities.

The RAR Group, currently 100% shareholder of ColepCCL, will become the sole shareholder of the new entity.

ColepCCL S.A. is a major supplier of aerosol based products, a pan-European manufacturer for the personal care & beauty market, healthcare and homecare markets, and a pan-European player in the can-making industry. ColepCCL was established in 2004 through the merger of Colep and the European Custom Manufacturing Division of CCL Industries.

Czewo Full Filling Service GmbH is an international company with 40 years of experience in contract manufacturing and contract filling of aerosols and liquid products operating in similar markets.

RAR Group is one of the most important Portuguese economic groups, spanning a diverse portfolio including contract manufacturing and packaging, food products, real estate, services, tourism and financial investments. With consolidated revenues in 2007 of approximately 800 million Euros, the RAR Group employs around 3,700 employees, in Portugal, Spain, United Kingdom, Germany and Poland.

Argantis GmbH is a skilled and professional private equity partner to Germany's small and mid cap market ("Mittelstand").