NEPTCO COMPLETES DEBT REFINANCING

Pawtucket, RI – May 6, 2005 - Neptco, Inc. today announced the completion of the company’s new $85 million senior secured credit facility. The proceeds from this financing were used to refinance existing senior indebtedness and repay a significant portion of the company’s existing subordinated debt.

About NEPTCO, Inc.

Since 1953, Neptco has been a leading manufacturer of engineered materials including advanced polymeric coatings and laminates of film, foil, fiber, composites, paper, nonwovers and custom formulated adhesives. Neptco’s products are used worldwide by leading customers in the electronics, telecommunications, cable television, security, and semiconductor industries.