Crown Paper Increases Consent Fee.

OAKLAND, Calif.--(BUSINESS WIRE)--Sept. 23, 1998--Crown Vantage Inc. (Nasdaq:CVAN) announced today that its wholly owned subsidiary, Crown Paper Co., is increasing the consent fee to be paid pursuant to its Consent Solicitation Statement, dated Sept. 9, 1998, from $5 to $8.75 per $1,000 in principal amount of its 11 percent Senior Subordinated Notes due 2005 for which consents are validly received.

The consent solicitation, which has a record date of Sept. 9, 1998, expires on Monday, Sept. 28, 1998, at 5:00 p.m. EDT, unless extended. Crown Paper will pay the increased consent fee of $8.75 for each $1,000 in principal amount of the 11 percent notes to each holder who properly delivers a consent (not subsequently revoked) to the proposed amendments on or prior to the expiration date, including holders who have already delivered consents. The consents will be effective and payments made upon receipt of consents from a majority in principal amount of the record-date holders and execution of a supplemental indenture, among other things.

Except for the above-described modification to the consent solicitation, the consent solicitation continues to be governed by, and be made upon the terms and subject to the conditions set forth in, the Consent Solicitation Statement.

Donaldson, Lufkin & Jenrette Securities Corporation is acting as solicitation agent for the consent solicitation and may be contacted at 800/334-1604. Copies of the consent solicitation documents may be obtained by contacting MacKenzie Partners, Inc., the information agent, at 212/929-5500 (call collect) or 800/322-2885.

Headquartered in Oakland, Crown Vantage manufactures about 1 million tons of paper annually for printing, publishing and specialty packaging and converting applications at its 10 pulp and paper mills in the United States and Scotland. The company had sales in 1997 of $897 million.