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Fraser Papers Secures Additional Debt Financing
Toronto, Ontario, Canada, 19 September 2008 -- (Marketwire) -- Fraser Papers Inc. (TSX:FPS) announced today that it has secured a CAD 25 million term loan with Canadian Imperial Bank of Commerce Inc. The term of the loan is one year and will be repayable in September 2009. Interest rates on the loan are the same as interest rates on the company's existing revolving credit facility. Proceeds of the loan will be used to repay existing indebtedness under the company's revolving credit facility.

In support of the increased credit facility, the company's principal shareholder, Brookfield Asset Management Inc. (TSX:BAM)(NYSE:BAM)(EURONEXT:BAMA) has agreed to guarantee the company's borrowings under the facility. The company has agreed to pay a guarantee fee and to provide Brookfield with a fixed first charge over certain of the company's property, plant , and equipment while the guarantee is outstanding.

Fraser Papers is an integrated specialty paper company that produces a broad range of specialty packaging and printing papers. The company has operations in New Brunswick and Quebec in Canada, and in Maine and New Hampshire in the United States. Fraser Papers is listed on the Toronto Stock Exchange under the symbol: FPS. For more information, visit the Fraser Papers Web site at www.fraserpapers.com.

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