Royal Group proposes addition of five new independent directors TORONTO, April 28 /PRNewswire-FirstCall/ -- Royal Group Technologies Limited (RYG.SV - TSX; RYG - NYSE) today announced that it will propose the addition of five new independent directors at its Annual and Special Meeting of Shareholders on May 25, 2005. Royal Group's Annual and Special Meeting of Shareholders will be held at the Metro Toronto Convention Center South Building, located at 222 Bremner Boulevard in Toronto, Ontario, commencing at 4:15 PM. The five new independent directors being proposed by Royal Group are James Hacking, Carol Hansell, Richard Ross, Graham Savage and William Sheffield. Robert Lamoureux, Royal Group's Lead Director and Interim Chief Financial Officer, commented on the new nominees saying, "we are delighted to have attracted five new, well-experienced and highly regarded directors to our Board." Mr. Lamoureux previously held the position of Partner in the firm PricewaterhouseCoopers LLC, leading the firm's national corporate governance practice. James Hacking is currently the CEO and owner of IMT, a major manufacturer and supplier to the truck-trailer, OEM and defense industries. He serves on the Board of Armada Group, and previously served on the Boards of Granby Steel Tanks and Trailmobile. Carol Hansell is a partner in the law firm Davies Ward Phillips & Vineberg LLP and is an expert in the field of corporate governance. Ms. Hansel serves on the Board of the Public Sector Pension Investment Board, as well as the corporate governance committee of the Board of the Toronto East General Hospital. Richard Ross, who is a chartered accountant, is the Chairman and CEO of Inmet Mining Corporation. Mr. Ross also serves as the Chairman of the Mining Association of Canada and the President of the Canadian Turkish Business Council. Graham Savage is currently Chairman of the merchant banking firm, Callisto Capital. Mr. Savage also sits on the Boards of Canadian Tire, Hollinger International, Vitran Corporation and Leitch Technology. He is a member of the Special Investigative Committee of Hollinger's Board. William Sheffield currently acts as a professional director, serving on the Boards of Ontario Power Generation and Velcan, Inc. Mr. Sheffield previously held the positions of Executive Vice President of Abitibi Consolidated and CEO of Sappi Ltd. of South Africa. Royal Group previously announced that Vic De Zen will retire from its Board following the company's Annual and Special Meeting of shareholders, provided the proposal to convert his Multiple Voting Shares to Common Shares is approved by shareholders. Following the upcoming Meeting, Royal Group intends to add its new CEO to the Board, who is expected to be named in advance of the meeting. Ralph Brehn, who has been on Royal Group's Board for 10 years, has now reached the Board's mandatory retirement age and is not standing for re-election. Gwain Cornish, who retired as an executive of Royal Group in 2004, will also be retiring from the Board. Mr. Cornish will continue to be active with the company, serving in an advisory role to management. James Sardo, who serves as Interim President and CEO, will also be nominated for a Board position along with Mr. Lamoureux at the upcoming meeting. Ronald Slaght and Irvine Hollis, who have served on the Board for 10 years, will be nominated again this year. "With acceptance of the proposed slate of directors, coupled with the additions of a new CEO and CFO, we can turn our full attention to development of a strategic plan with an effective implementation process aimed at unlocking Royal's full potential," concluded Mr. Lamoureux. With acceptance of the proposed slate of directors at Royal's Annual and Special Meeting of Shareholders, the resignation of Mr. De Zen from the Board following conversion of his Multiple Voting Shares, and with Mr. Sardo and Mr. Lamoureux relinquishing their interim management positions, the Board of Directors of Royal Group will consist of nine directors who are independent of management and the company, as well as the new CEO. Royal Group intends to publicly file its Management Proxy Circular pertaining to the upcoming Annual and Special Meeting of Shareholders, by May 4, 2005. The circular will provide further details on the backgrounds of the proposed slate of directors. The Circular will be available on Royal Group's web site at http://www.royalgrouptech.com/ in the Investor Relations section, immediately following the filing. Royal Group Technologies is a manufacturer of innovative, polymer-based home improvement, consumer, and construction products. The company has extensive vertical integration, with operations dedicated to provision of materials, machinery, tooling, real estate, and transportation services to its plants producing finished products. Royal's manufacturing facilities are primarily located throughout North America, with international operations in South America, Europe, and Asia. Additional investment information is available on Royal Group's web site at http://www.royalgrouptech.com/ under the Investor Relations section. The information in this document contains certain forward-looking statements with respect to Royal Group Technologies Limited, its subsidiaries and affiliates. These statements are often, but not always made through the use of words or phrases such as "expect", "should continue", "continue", "believe", "anticipate", "estimate", "contemplate", "target", "plan", "budget", "may", "will", "schedule" and "intend" or similar formulations. By their nature, these forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant, known and unknown, business, economic, competitive and other risks, uncertainties and other factors affecting Royal specifically or its industry generally that could cause actual performance, achievements and financial results to differ materially from those contemplated by the forward-looking statements. These risks and uncertainties include the outcome of the ongoing internal review and investigations by the Special Committee of the Board of Directors; fluctuations in the level of renovation, remodeling and construction activity; changes in product costs and pricing; an inability to achieve or delays in achieving savings related to the cost reductions or increases in revenues related to sales price increases; the sufficiency of our restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring activities compared to the estimated costs of such actions; the ability to recruit and retain qualified employees; the level of outstanding debt and our current debt ratings; the ability to meet the financial covenants in our credit facilities; the ability to successfully replace our syndicated credit facility; changes in product mix; the growth rate of the markets into which Royal's products are sold; market acceptance and demand for Royal's products; changes in availability or prices for raw materials; pricing pressures resulting from competition; difficulty in developing and introducing new products; failure to penetrate new markets effectively; the effect on foreign operations of currency fluctuations, tariffs, nationalization, exchange controls, limitations on foreign investment in local business and other political, economic and regulatory risks; difficulty in preserving proprietary technology; adverse resolution of any litigation, investigations, administrative and regulatory matters, intellectual property disputes, or similar matters; changes in securities or environmental laws, rules and regulations; currency risk exposure and other risks described from time to time in publicly filed disclosure documents and securities commission reports of Royal Group Technologies Limited and its subsidiaries and affiliates. In view of these uncertainties we caution readers not to place undue reliance on these forward-looking statements. Statements made in this document are made as of April 28, 2005 and Royal disclaims any intention or obligation to update or revise any statements made herein, whether as a result of new information, future events or otherwise. DATASOURCE: Royal Group Technologies Limited CONTACT: Robert Lamoureux, Lead Director and Interim CFO, or Mark Badger, Vice President, Marketing and Corporate Communications, Phone: (905) 264-0701, Fax: (905) 264-0702

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