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Management Side
Boise Paper and Aldabra 2 Complete Acquisition
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New York, New York, USA, 22 February 2008 -– Aldabra 2 Acquisition Corp. (AMEX: AII.U, AII, AII.WS) today announced that it has completed its acquisition of Boise Cascade, LLC’s packaging and paper manufacturing businesses. The transaction was approved by the shareholders of Aldabra on 05 February 2008. In conjunction with the completion of the transaction, Aldabra changed its name to Boise Inc. and, as of 25 February 2008, its common stock and warrants will trade on the New York Stock Exchange under the new symbols BZ and BZ.WS, respectively.

“Becoming a public company is an exciting new chapter for our company,” said Alexander Toeldte, CEO of Boise Inc. “The fundamentals and outlook for our business and for the paper industry remain strong. As an independent company listed on the New York Stock Exchange, we believe we can sharpen our intense focus on customer satisfaction while offering our investors an opportunity to participate in the growth of our business. With a strong foundation in place, we look forward to additional progress in the coming months and years,” he said.

“We are extremely pleased with the transformation of Aldabra 2 into Boise Inc., one of the leading packaging and paper companies in North America,” said Nathan Leight, formerly chairman of Aldabra and now a member of the board of directors of Boise Inc. “From the beginning of our due diligence through today’s closing, we’ve been impressed with the strong cash flow, world-class products, and tremendous employee involvement at Boise. Our shareholders are now invested in well-positioned assets that are overseen by an outstanding management and operating team that has both global strategic insight and deep industry knowledge.”

By 28 February 2008, Boise Inc. will file pro forma financial results for the year ended 31 December 2007, with the Securities and Exchange Commission. Investors can learn more about upcoming events at Boise Inc.’s new website, www.BoiseInc.com.

ABOUT BOISE INC.
Headquartered in Boise, Idaho, Boise manufactures a wide range of premium and specialty products, including papers for pressure sensitive and flexible packaging applications, containerboard and corrugated products, imaging papers for the office and home, printing and converting papers, newsprint, and market pulp. Boise has approximately 4700 employees.

 

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