AHL Ameriplas Holdings Ltd

Ameriplas Holdings Ltd. ("Amperiplas" or the "Company") (TSX VENTURE:AHL) today
announced that it has entered into an agreement to sell its wholly-owned
operating subsidiary, Ameriplas International Inc. ("International"), to a
management group that includes certain directors of the Company. The management
group has also agreed, subject to completion of the sale of International, to
sell its shareholdings of the Company, representing approximately 59 percent of
the outstanding shares of the Company, to Kenneth Morgan. Mr. Morgan has been
appointed the Company's Chief Executive Officer and a director of the Company,
effective immediately.


The disposition of International will generate no proceeds to the Company,
however the management group has agreed to cause International to forgive a
$125,000 debt currently due from the Company to International, and to assume all
but $144,000 in other liabilities and guarantees. The relationship of the
management group to the Company, including that the management group are
directors and significant shareholders of the Company, means that the
disposition is a related party transaction under the policies of the TSX Venture
Exchange and pursuant to applicable securities legislation. Accordingly, a
valuation of International and shareholder approval of the disposition on a
majority of the minority shareholder approval basis will be required as a
condition to complete of the transaction. The transaction is also subject to
approval of the TSX Venture Exchange and other closing conditions typical of
transactions of this nature. The date of the shareholders meeting will be
announced at a future date. 


Management of the Company believes that the disposition of International will
improve the Company's balance sheet and future prospects and is in the best
interests of the Company. The transaction has been reviewed and approved by the
Company's independent directors.


Mr. Morgan is currently the Chief Executive Officer of Strategem Capital
Corporation, a publicly-listed merchant bank, where he is responsible for
identifying, acquiring and managing interests in a portfolio of companies in the
precious and base metal industry. Mr. Morgan was also the lead director during
the reactivation of Petaquilla Minerals Ltd., and was instrumental in recruiting
board members and management, acquiring gold assets from its joint venture
partners, and negotiating extended mineral tenure with the Panamanian
government. The company's subsidiary, Petaquilla Copper, was acquired for $378
million by Inmet Mining in September 2008. Mr. Morgan has served as director or
senior officer of public companies for 15 years. He is a Chartered Accountant
(CA), Certified Public Accountant (CPA), and a Chartered Director (C.Dir.).

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