Exhibit 4.1

September 16, 1996


Michael W. Giancaspro
Tredegar Industries, Inc.
1100 Boulders Parkway
Richmond, VA 23225

Re:      Extension of the Revolving Credit Agreement dated September 7,
         1995

Pursuant to section  2.10(d)(i) of the Credit Agreement dated September 7, 1995,
you have requested that the Chase  Manhattan Bank seek approval from the lenders
in order to extend the maturity date of the Credit  Agreement  from September 7,
2000 to September 7, 2001.  We have  requested  such  approval  from each of the
lenders and have received  approval from each lender to extend its  commitments.
Therefore,  according  to  the  provisions  of  section  2.10(d)(i),  the  Chase
Manhattan  Bank  hereby  notifies  you that the  maturity  date for your  Credit
Agreement shall be extended to September 7, 2001.

Enclosed are copies of the approvals from each of the banks.  Please let me know
if I can be of further assistance.

Sincerely,

/s/ Bruce Borden

Bruce Borden
Vice President

c: Nancy Taylor, Tredegar Internal Counsel

Enclosures