Copamex, S.A. de C.V. Commences Consent Solicitation.

Business Editors

NEW YORK--(BUSINESS WIRE)--March 1, 2001

Copamex, S.A. de C.V. (successor by merger to Copamex Industrias, S.A. de C.V.) ("Copamex"), a leading producer of value-added paper-based consumer products and industrial paper products in Mexico, announced today that it is soliciting consents from holders of its 11.375% Senior Notes due 2004 (the "Notes") to amend the indenture under which the Notes were issued.

The purpose of the consent solicitation is to obtain the holders' consent to an amendment under the "Limitation on Additional Indebtedness" covenant in the indenture in order to provide Copamex with the additional customary flexibility to refinance indebtedness incurred by it under the EBITDA Coverage Ratio. The proposed amendment will, however, restrict the ability of Copamex to refinance its indebtedness with indebtedness of its subsidiaries and will not allow Copamex to incur greater principal amounts of indebtedness.

The consent solicitation will expire at 5:00 p.m. New York City time on March 14, 2001, unless extended by Copamex (the "Expiration Date"). The consent solicitation requires that consents from record holders representing a majority in aggregate principal amount of the Notes outstanding be received and not revoked prior to the Expiration Date.

Copamex will make a payment equal to 0.25% of the principal amount of the Notes ($2.50 in cash for each $1,000 principal amount of Notes) to each holder of Notes whose consent is received and accepted prior to the expiration date. The record date of the consent solicitation is February 23, 2001. Copamex will pay this fee promptly after the execution of a supplemental indenture effecting the amendments and the expiration of the consent solicitation.

The detailed terms and conditions of the consent solicitation are contained in the consent solicitation statement dated March 1, 2001. Holders of the Notes can obtain copies of this statement and related material from the information agent for the consent solicitation, MacKenzie Partners, Inc., at 800-322-2885 (toll free) or 212-929-5500 (collect). UBS Warburg LLC ("UBS") is acting as Solicitation Agent for the transaction. Questions regarding the solicitation can be addressed to UBS at 203-719-8035 (collect).

Copamex is one of the leading producers of value-added paper-based consumer products and industrial paper products, and the second largest manufacturer of paper products, in Mexico. Copamex's industrial paper products are comprised of packaging products and printing and writing paper products.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Although Copamex believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regard as a representation by Copamex or any other person that the objectives and plans of Copamex will be achieved.