SMART Papers Completes Purchase of Fraser Papers' Midwest U.S. Pulp, Papermaking, Distribution and Converting Operations.

HAMILTON, Ohio -- Highlights:

--SMART Papers more than doubles size with acquisition, which closed two weeks ahead of schedule.

--Company now has 7 paper machines in two states, 14 printing paper brands, two large Midwest distribution centers--as well as a pulpmaking and pulp de-inking facility to produce papers with up to 100% post-consumer waste content.

--Becomes major North American supplier of uncoated papers; now offers a complete line of premium coated, premium uncoated and commercial printing papers to corporations, paper merchants, printers and designers.

--Provides overnight delivery to 80% of the North American market.

SMART Papers, LLC today said it has completed its acquisition of Fraser Papers' Midwest U.S. operations including a pulp and papermaking center in northern Wisconsin and a 470,000-square foot manufacturing and distribution center in Chicago.

The acquisition more than doubles the size of SMART Papers and greatly broadens the company's product offering to corporations, paper merchants, printers and designers. The company now offers a diverse range of 14 well-established and respected printing paper brands, from super-premium cast-coated papers to economical uncoated papers that are used everyday in commercial and in-plant printing locations. More than 80% of North American customers can be served with next-day delivery.

SMART Papers finalized the acquisition of the Fraser Papers' Midwest facilities two weeks ahead of schedule, said SMART Papers CEO Tim Needham. A definitive asset purchase agreement with the Toronto-based company was announced Jan. 6.

The well-known and large-selling brands Synergy(R), Torchglow(R), Glacier(R), Brights(R), Pegasus(R), Passport(R), Genesis(R), Outback(R) and Magna Carta(R) join the SMART Papers branded lines of Kromekote(R), Knightkote(R) Matte, Carnival(R), Benefit(R) and SMART Digital(TM) papers.

Needham said customers should view SMART Papers as a one-stop shopping provider for premium cast-coated and machine-coated papers, premium uncoated text and cover papers as well as commercial printing opaques, brights, bristols, index and tags. The papers are used on traditional offset and digital printing presses for applications including annual reports, books, direct marketing, consumer packaging brochures, sales and product literature, stationery, advertising and greeting cards.

The Park Falls pulp and papermaking facility is located in Park Falls, Wisconsin, approximately 315 miles northwest of Milwaukee. The Park Falls center has a capacity to produce 135,000 tons of uncoated commercial printing and also has a pulpmaking and pulp de-inking facility, which enables it to produce post-consumer waste fiber to make premium recycled printing papers.

The paper converting, high-cube distribution center and customer service center are located in West Chicago, Illinois.

SMART Papers is one of the largest privately held printing paper manufacturers in North America. Headquartered in Hamilton, Ohio, north of Cincinnati, the company's products serve commercial printing, graphic arts, packaging, label, printing hardware manufacturers, hobby and craft, digital and inkjet, school supplies, industrial and specialty converting and printing markets.

SMART Papers began operations in February 2001 when an affiliate of Sun Capital Partners, Inc., a Boca Raton, Fla.-based private investment firm, purchased the Hamilton papermaking facility from International Paper. Sun Capital affiliates have acquired companies worldwide including a growing number of companies in the printing paper and packaging industries. They have invested in more than 70 companies since inception in 1995 with combined sales in excess of $18 billion. Companies owned by Sun Capital affiliates include Sam Goody, Bruegger's Bagels, Northland Cranberries, Inc., Mervyn's, LLC and Wickes Furniture.

For more information, visit www.smartpapers.com or contact customer service at 800-443-9773.