Ethics are important to Automated Packaging Systems, Inc. (the Company) and each and every one of its employees.  The Company is committed to the highest ethical standards and to conducting its business with the highest level of integrity.  I, and the entire executive team, believe this commitment is at the core of the values that make the Company great.  As a result, the Company has adopted a Code of Business Conduct and Ethics.

Adherence to ethical standards of excellence set forth in this Code of Business Conduct and Ethics is integral to creating and sustaining a world class culture.  Uncompromising ethics provide the necessary foundation on which world class performance is built and on which the Company can grow and prosper.

Each Company employee is responsible for the consequences of his or her actions, and is responsible for being the guardian of the Company’s ethics.

The leaders within the Company have the added responsibility of setting an example by their personal performance, and by having an attitude that conveys our ethical values.  Leading by example allows us to treat everyone – employees, customers, prospects, suppliers and competitors – with the honesty and respect they deserve.

If you are unsure how to handle a particular ethical issue, we encourage you to take advantage of the open door policy and raise your concerns with management or, if you are still uncomfortable, to follow the process outlined in the Code of Business Conduct and Ethics.

Daryl D. Manzetti
Chief Financial and Accounting Officer,
on behalf of The Board of Directors of
Automated Packaging Systems, Inc.