EXHIBIT 1

FORM 51-102F3

MATERIAL CHANGE REPORT

ITEM 1	Name and Address of Company
	Intertape Polymer Group Inc. (“Intertape”)
	9999 Cavendish Blvd., suite 200
	Montreal (Quebec) H4M 2X5
ITEM 2	Date of Material Change
	February 1, 2012.
ITEM 3	News Release
	A news release disclosing the material change was issued by Intertape on February 2, 2012 through the facilities of Marketwire.
ITEM 4	Summary of Material Change
	On February 1, 2012, Intertape Polymer Group Inc. (TSX: ITP) and certain of its affiliates entered into a third amendment to its US$200 million asset-based loan facility agreement that provided for, amongst others, an extension of the facility’s maturity date from March 2013 to February 2017.
ITEM 5	Full Description of Material Change
	Please see the news release and amendment included in this filing.
ITEM 6	Reliance on subsection 7.1(2) of National Instrument 51-102
	Not applicable.
ITEM 7	Omitted Information
	No information has been omitted from this report on the basis that it is confidential information.
ITEM 8	Executive Officer
	For additional information with respect to this material change, the following person may be contacted:
	Bernard J. Pitz
	Chief Financial Officer
	Tel: 866-202-4713
ITEM 9	Date of Report
	This report is dated as of the 2nd day of February, 2012.