Transaction to Enhance Business Portfolio and Build on AEP's Strong

                     Position in the Plastics Industry



    SOUTH HACKENSACK, N.J., Aug. 11 /EMWNews/ -- AEP

Industries Inc. (Nasdaq: AEPI, the "Company") today announced that it has

reached a definitive agreement to acquire substantially all of the assets

of the Plastic Films segment of Atlantis Plastics, Inc. (OTC: ATPL.PK), an

Atlanta-based company, in a cash transaction valued at approximately $87

million. The transaction was unanimously approved by the Boards of

Directors of both companies.



    The Plastic Films segment operates through three divisions - stretch

films, custom films and institutional products - and maintains a

significant presence in many of its product categories, which are used in a

variety of applications, including storage, transportation, food packaging

and other commercial and consumer applications. The segment also converts

some institutional products internally from custom films.



    "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

    [email protected]