TNP Technoplast

RNS Number:7605W
Technoplast Industries Ld
21 March 2004

                                                     R. YOHAY & CO., LAW OFFICES


                                  TOP  TOWER,  50, DIZENGOFF ST., TEL AVIV 64332
              FAX:  525-03 39 83  e-mail: ryohay@ryylaw.com   TEL:  525-03 39 72


                                                                    ROBERT YOHAY
                                                                      GILL RIMON
                          EYNAT BRETSHNAIDER

Tel Aviv, 17 March 2004



The London Stock Exchange
Company Announcements Section
Fax: 44-207-5886057


Dear Sir,


            RE:       Technoplast Industries Ltd - Immediate report


Technoplast Industries Ltd. (hereinafter: "the Company") has announced to the
Tel Aviv Stock Exchange and to the Israeli Securities Authority, as an immediate
report, that On 16 March 2004 the Company's board of directors approved the sale
of all of the Company's shares and rights in its subsidiary, Smart Storage
Limited (hereinafter: "SMS"), to a third party, in consideration for the
annulment of a guarantee for the payment of SMS' debts, given by the Company to
a certain bank, and in consideration for a certain portion of SMS's profits up
to an agreed upon figure.


The above sale of SMS's shares is subject to receipt of the approval of the
banks that are creditors of the Company by no later than 15 April 2004.


In the event that such approval is not received and/or in the event that the
Company's above guarantee is not annulled by 15 April 2004, the Company shall
have the right to demand that all the above shares and rights be returned to the
Company. Such right shall be in effect until 31 May 2004. In the event that the
Company does not exercise the above right, then the Company's shares and rights
in SMS shall remain the property of the said third party.


Mr. Itamar Patishi rendered his resignation from SMS's board of directors,
effective 16 March 2004, and subsequent to his resignation the Company has no
representatives in SMS's board of directors.


Kidron holdings and management (1961) Ltd. gave its consent to the above
transaction.


In the year2002 and in the first nine months of 2003, SMS's activity amounted
to approximately 37% of the Company's consolidated activity.


According to the Company's and SMS's financial statements of 30 September 2003,
the Company is expected to register aprofit of 3,000,000 NIS that shall
decrease the Company's deficit in self capital.




                                                      Yours Sincerely,



                                                      Gill Rimon, Adv.

       R. Yohay & Co., Law Offices



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