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                                                                    EXHIBIT 99.1

                                                                   PRESS RELEASE


[AET LOGO APPEARS HERE]



Applied Extrusion Technologies, Inc.
3 Centennial Drive, Peabody, MA 01920
978-538-1500 . Fax 978-538-1557


                                       Contact:  Anthony J. Allott
                                                 Vice President and
                                                 Chief Financial Officer
                                                 (978) 538-1516



FOR IMMEDIATE RELEASE
---------------------


                      APPLIED EXTRUSION TECHNOLOGIES, INC.
                  COMPLETES ACQUISITION OF ASSETS OF QPF, LLC


BOSTON, MA, July 2, 2001 - Applied Extrusion Technologies, Inc. (Nasdaq: AETC)
today announced that it has completed its acquisition of certain assets of QPF,
LLC, the oriented polypropylene (OPP) films business of Hood Companies.  Assets
acquired include the machinery and equipment, intellectual property, intangibles
and inventory of the business.  All of the machinery and equipment will be
dismantled after the acquisition.  Certain of these assets will be utilized in
AET plants to offset future capital requirements, and the remainder will be
utilized for spare parts or scrapped.  The purchase price for the QPF assets was
approximately $23,000,000, of which $15,000,000 was paid in cash using some of
the proceeds from the Company's recent bond offering, and the remainder was paid
with an inventory note.

"This transaction is a very important event for both AET and the OPP films
industry," commented Thomas E. Williams, President and Chief Executive Officer
of AET.  "It provides an excellent opportunity for AET to leverage its highly
efficient manufacturing assets, unparalleled product line breadth and premier
sales force.  Capitalizing on these strengths, we intend to retain the QPF
customers and to fill our excess manufacturing capacity."

"By acquiring QPF, we have a unique opportunity to realize significant
synergies," continued Williams.  "First, we intend to supply QPF's customers
from our existing highly efficient assets, with only minimal incremental fixed
costs.  Second, we will continue to focus on cost reduction, leveraging our
position as the largest OPP films producer in North America.  Third, we will
avoid the majority of QPF's operating and overhead costs by utilizing AET's
existing infrastructure."

In May, Hood Companies reported that they planned to close QPF and exit from the
OPP films industry.  Today, Hood is permanently closing the QPF production
facility.  QPF, located in Streamwood, Illinois, had approximately 40 million
pounds of OPP film production capacity.
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"Hood's decision to exit the OPP films business and close their plant eliminates
a significant portion of the excess capacity in the market," commented Williams.
"Utilization levels are expected to tighten further as a result of the
continuation of the historical 6 percent average annual growth in OPP films
demand combined with minimal announced capacity expansions.  Since a $50,000,000
to $60,000,000 capital investment and two years are required to build a new
line, plus another six months for ramp up, we expect tight industry capacity for
at least the next four years."

"AET's superior market position, combined with improved industry dynamics, will
drive strong earnings growth and superior financial returns over the next
several years," continued Williams.   We believe EBITDA should nearly double
from an estimated $40 million in fiscal 2001 to approximately $80 million by
fiscal 2003 and that earnings per share should increase from breakeven in fiscal
2001 to over $1.50 per share in fiscal 2003," concluded Williams.

Applied Extrusion Technologies, Inc. is a leading developer and manufacturer of
highly specialized plastic films used primarily in consumer product labeling and
flexible packaging applications.  Through its technological innovations, AET is
a leader in the North American oriented polypropylene and apertured films
markets.

Except for the historical information contained herein, the matters discussed in
this report are forward-looking statements that involve risks and uncertainties
which could cause actual results to differ materially from those in the forward-
looking statements, including those risks related to the timely development and
acceptance of new products, fluctuations in raw materials and other production
costs, the ability to satisfy our debt service requirements, the loss of one or
more significant customers, the impact of competitive products and pricing, the
timely completion of capital projects, the success of the Company's efforts to
access capital markets on satisfactory terms, and to acquire, integrate, and
operate new businesses and expand into new markets, as well as other risks
detailed in Exhibit 99 of the Company's Annual Report on Form 10-K for the
fiscal year ended September 30, 2000 and from time to time in the Company's
other reports filed with the Securities and Exchange Commission.

