PRESS RELEASE

May 3, 2006 - The Board of Directors of Nordic Paper AS has, as of today, decided to close Geithus mill.

The Board’s decision is based on the fact that Nordic Paper has had unsatisfactory financial results over the last few years, even though the Company has implemented several cost-effective improvements since its establishment in 2001.

The production at the mill will stop in connection with the scheduled summer stop on June 30, 2006.

-- End of Press Release --

Nordic Paper was established in October 2001, and is the world's largest producer of grease-proof paper grades. It has two mills in Norway, and one in Sweden. The company has 400 employees and sales in 2005 of NOK 825 million.

Nordic Papers A/S and its North American agent, Central National-Gottesman Inc., are focused on providing the market with the highest quality baking and release-treated papers for direct food contact.