Lerach Coughlin Stoia Geller Rudman & Robbins LLP ("Lerach Coughlin") (http://www.lerachlaw.com/cases/royalgroup/) today announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Royal Group Technologies Limited ("Royal Group") (NYSE:RYG) common stock during the period between February 11, 1999 and October 13, 2004 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Samuel H. Rudman or David A. Rosenfeld of Lerach Coughlin at 800-449-4900 or via e-mail at [email protected]. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.lerachlaw.com/cases/royalgroup/. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Royal Group and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Royal Group is a vertically integrated manufacturer of polymer-based home improvement, consumer and construction products. Royal Group's operations are located primarily in Canada and the United States, with international locations in Mexico, South America, Europe and Asia.

The complaint alleges that during the Class Period, defendants caused Royal Group's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements. The statements were materially false and misleading because defendants knew, but failed to disclose that: (i) defendants were enjoined in a scheme to packet ill-gotten monies in violation of applicable law, including laws governing "fraud" and "conspiracy"; (ii) defendants used a resort partially owned by them as a vehicle to steal money from the Company; (iii) the Company's inventory was overstated as defendants delayed the writedown of these assets to prevent further earnings erosion; (iv) the Company's U.S. window business was not poised for growth but faltering, contrary to defendants' portrayal; (v) the defendants' margins were being eroded by the increase of higher raw material costs; and (vi) as a result of (i)-(vi) above, defendants' projections for FY 2003-2004 were grossly overstated.

On October 15, 2004, Royal Group disclosed the first Royal Canadian Mounted Police ("RCMP") production order for three Royal Group current or former executives who faced allegations of defrauding shareholders and creditors. The court documents named company founder, controlling shareholder and non-executive chairman Vic De Zen, former CFO Gary Brown and then current President and CEO Douglas Dunsmuir. The investigation relates to allegations that De Zen, Brown and Dunsmuir violated sections of the Criminal Code for fraud and conspiracy by circulating or publishing a prospectus or statement or account which they knew was false, for a period between January 1996 and July 2004. Upon this news, shares of Royal Group fell $1.12 per share, or almost 15%, to close at $7.85 per share on the next trading day on unusually heavy trading volume. On October 28, 2004, these allegations widened to include current CFO Ronald Goegan and large shareholders Domenic D'Amico and Fortunato Bordin, and expanded the time period to between January 1996 to present.

Plaintiff seeks to recover damages on behalf of all purchasers of Royal Group common stock during the Class Period (the "Class"). The plaintiff is represented by Lerach Coughlin, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Lerach Coughlin, a 140-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Houston, Philadelphia and Seattle, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. Lerach Coughlin lawyers have been responsible for more than $20 billion in aggregate recoveries. The Lerach Coughlin Web site (http://www.lerachlaw.com) has more information about the firm.