AMCR Amcor Limited ADS (MM)

NEW YORK, May 10 /PRNewswire-FirstCall/ -- Amcor Limited (ASX:AMC)(NASDAQ:AMCR) announced on May 2, 2007 that it intends to voluntarily withdraw its American Depositary Receipts (ADRs) from listing on The NASDAQ Stock Market LLC and to deregister its ADRs and its ordinary shares under the U.S. Securities Exchange Act after the recently adopted deregistration rules of the U.S. Securities and Exchange Commission (SEC) become effective on June 4, 2007. Amcor expects to file a Form 25 with the SEC in early June 2007 to effect the delisting. The NASDAQ Stock Market will suspend trading in the ADRs, each representing four Amcor ordinary shares, ten days after the de-listing application is filed. Simultaneously with the filing of its application to delist, Amcor plans to apply to the SEC to terminate the registration of the ADRs and the ordinary shares under the Exchange Act. Upon the delisting, Amcor's obligations to file reports with the SEC will immediately be suspended. Amcor expects that the deregistration of its ADRs and its ordinary shares will become effective and Amcor's Exchange Act reporting obligations will be terminated 90 days after the filing with the SEC. "The Board of Directors determined to take this action based on several factors, including the ongoing expense of preparing additional periodic reports for filing with the SEC and the substantial increase in costs to meet the requirements of the Sarbanes-Oxley Act," stated Ken MacKenzie, Amcor's Managing Director and CEO. In view of Amcor's adoption of the Australian equivalents of the International Financial Reporting Standards, the cost of preparation of similar U.S. GAAP accounting reports is no longer warranted. Amcor will continue to make its annual and interim reports and press releases available on its website http://www.amcor.com/. Amcor expects to continue to provide a level one ADR facility in the U.S. for the foreseeable future, and expects that the ADRs will be traded in the U.S. over-the-counter market. Amcor has not arranged for the listing of its shares or ADRs on any other national securities exchange in the U.S. or for their quotation in any quotation medium. Amcor's ordinary shares will remain listed on the Australian Securities Exchange. Turnover of Amcor ADRs on NASDAQ has constituted approximately 4% of global turnover of Amcor's equity over the past 12 months with the remaining 96% of turnover occurring on the Australian Securities Exchange. DATASOURCE: Amcor Limited CONTACT: John Murray, Executive General Manager Corporate Affairs, of Amcor Limited, +61 3 9226 9005 Web site: http://www.amcor.com/

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