For immediate release
8 October 2007

International Greetings establishes foothold in Australian market

International Greetings (AIM: IGR), the leading designer and manufacturer of greetings products and film and television based licensed stationery, is delighted to announce the acquisition of 50% of the issued share capital of Artwrap Pty, a designer and distributor of gift wrap and greetings products in Australia with annual revenues of approximately A$23 million (£10 million).

An initial consideration of A$3.75 million (£1.63 million) is payable in cash, with an additional deferred consideration of up to A$1.45m (£0.63m) also payable in cash, dependent upon the level of profitability for the 12 months to 30 June 2008.

The Managing Director and owner of the remaining 50% of the issued share capital will continue to run the business. International Greetings will derive maximum value from the investment by exploiting the synergy benefits available through joint sourcing, utilising existing production capacity and shared design resources.

Nick Fisher, Joint Chief Executive of International Greetings, commented, “I am delighted that we have purchased this strategic stake. The Artwrap business met all our acquisition criteria and reflects our on-going international expansion programme. This deal offers International Greetings significant benefits introducing us to a new market place via an established partner, and allows us to utilise our existing resources to take Artwrap to its next stage of development.”

Note to Editors:

International Greetings PLC is a leading designer and manufacturer of private label wrapping paper, greetings products and film and television character based licensed stationery. It currently has over 2,000 employees and produces gift wrapping paper, accessories, Christmas crackers, greetings cards and other stationery products.

The Group supplies wrapping paper and gift products to a number of global retailers and holds licences to produce merchandise for most of the well-known family characters, including Disney, Shrek and the Simpsons Movie.

International Greetings was founded in the UK in 1979 and, in addition to the UK and Western Europe, has successful operations in the United States, Hong Kong, China and Europe.

ENDS

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