Neenah Paper to Meet with Buchanan Regarding Status of Terrace Bay Transfer

Alpharetta, Georgia, USA, 02 June 2006 -- /PRNewswire/ -- Neenah Paper, Inc. (NYSE:NP) announced today that the company will be meeting next week with Buchanan Forest Products, Ltd. to discuss the status of a possible transfer of Neenah Paper's Terrace Bay pulp mill and woodlands operations to Buchanan.

In early May, Neenah Paper announced it had tentatively agreed to transfer these operations to Buchanan subject to several conditions, including completion by 01 June of labor negotiations between Buchanan and mill and woodlands employees. Mill employees were able to negotiate a revised agreement in accordance with this deadline, however, woodlands employees have not. Neenah Paper had previously announced plans to permanently close the mill and woodlands if a transfer to Buchanan could not be successfully completed.

About Neenah Paper, Inc.

Neenah Paper manufactures and distributes a wide range of premium and specialty paper grades. The company also produces and sells bleached pulp, primarily for use in the manufacture of tissue and writing papers. Neenah Paper is based in Alpharetta, Georgia, and has manufacturing operations in Wisconsin, Michigan, and in the Canadian provinces of Ontario and Nova Scotia. Additional information about Neenah Paper can be found at the company's Web site at www.neenah.com.

Source: Neenah Paper, Inc.