RICHMOND, VA (September 3, 2008)-MeadWestvaco Corporation (NYSE: MWV) today announced it hascompleted the sale of its Specialty Papers Cedar mill in Potsdam, NY, to Potsdam Specialty Paper, Inc.
(PSPI) on September 1, 2008. Terms of the agreement were not disclosed.
PSPI is part of an investment holding company with offices in NY, Hong Kong, and Toronto, and has the
financial resources to continue growing the business, expanding the product portfolio, investing in the
people and facilities, and rapidly expanding the global reach to new customers. PSPI is part of a portfolio of
global businesses that focus on niche products and markets in the value added paper and coatings
distribution business.
The mill’s current management team remains in place, and all employees transitioned to PSPI upon
completion of the sale.
About MWV
MeadWestvaco Corporation (NYSE: MWV), provides packaging solutions to many of the world’s mostadmired brands in the healthcare, personal and beauty care, food, beverage, media and entertainment, and home and garden industries. The company's businesses include Consumer & Office Products, Specialty Chemicals, and the Community Development and Land Management Group, which sustainably manages the company’s land holdings to support its operations, and to provide for conservation, recreation and development opportunities. With 23,000 employees worldwide, MWV operates in 30 countries and serves customers in more than 100 nations. MWV manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index
for the fourth consecutive year. For more information, please visit www.mwv.com.