Intertape Polymer Responds to Current Economic Conditions

• Press Release
• Source: Intertape Polymer Group Inc.
• On 5:00 pm EST, Tuesday December 9, 2008

MONTREAL, QUEBEC and BRADENTON, FLORIDA--(MARKET WIRE)--Dec 9, 2008 -- Intertape Polymer Group Inc. ("Intertape" or the "Company")(Toronto:ITP.TO - News)(NYSE:ITP - News) today announced measures to further reduce costs in light of the continuing challenging global financial crisis.

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Symbol	Price	Change
ITP	2.07	0.00

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The Company's workforce is being reduced by 152 people from the previous total of 2100. Intertape is extending the holiday shutdown period by an additional week across all of its facilities. Essential services will be maintained. The Company has also reviewed all third party contracts and fees. A number of services have been brought in house and existing fee arrangements have been modified, resulting in significant cost reductions.

"We are taking these necessary and proactive steps, as unfortunate as some are, as we continue our focus on cash management and lean operations," stated Executive Director Melbourne F. Yull. "As previously announced, fourth quarter sales are expected to decline from third quarter levels.

"Nonetheless, we are encouraged with the prospects for 2009. Several new, high-margin products have been developed in-house and have been introduced over the past few months. The additions are in all of our sectors, many in new markets which positions the Company to benefit from further opportunities," concluded Mr. Yull.

About Intertape Polymer Group

Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota/Bradenton, Florida, the Company now employs approximately 1,950 employees with operations in 17 locations, including 13 manufacturing facilities in North America and one in Europe.

Safe Harbor Statement

Certain statements and information included in this press release constitute forward-looking information within the meaning of applicable Canadian securities legislation and the Federal Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the Company's future outlook and anticipated events, the Company's business, its operations, its financial condition or its results. Particularly, statements about the Company's objectives and strategies to achieve those objectives are forward-looking statements. While these statements are based on certain factors and assumptions which management considers to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. The risks include, but are not limited to, the factors contained in the Company's filings with the Canadian securities regulators and the U.S. Securities and Exchange Commission. While the Company may elect to, it is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time.

     Contacts:
     MaisonBrison
     Rick Leckner
     514-731-0000