Alpharetta, Georgia, USA, 29 August 2006 -- /PRNewswire/ -- Neenah Paper, Inc. today announced it has completed the sale of its Terrace Bay pulp mill and woodlands assets to Terrace Bay Pulp Inc. and Eagle Logging Inc., members of the Buchanan group. Terms of the sale are consistent with the definitive sales agreement signed earlier in the month and summarized in the company's press release on 08 August 2006.

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 Nova Scotia, Canada. Additional information about Neenah Paper can be found at the company's Web site at www.neenah.com.

Source: Neenah Paper, Inc.