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Gould Paper Intent on Purchasing Southern Paper, Inc.
New York, New York, USA, 11 September 2006 -- Harry E. Gould, Jr., chairman and president of Gould Paper Corporation, New York City, and Miguel Franquiz, president of Southern Paper, Inc., Miami, announced that they have signed a letter of intent for Gould Paper to purchase Southern Paper.

Following the purchase, Gould will merge their existing Miami operation into Southern. The transaction, which is subject to the finalization of an agreement, is expected to close by the end of September 2006. The combined operations will trade under the name Southern Paper, Inc., and Mike Franquiz will continue as its president.

Gould Paper Corporation has been in the Miami market in excess of 12 years and has operated independently during this period. Gould stated, "Combining the Gould operation with Southern Paper will afford Gould a significantly enhanced sales and marketing effort, while providing Gould with an increased reach and presence."

"Both Gould and Southern are independent, privately-owned, family merchants, with virtually identical operating principles, and, as such, the relationship going forward, will be highly synergistic," Gould said.

Mike Franquiz, stated, "Combining the operations of Southern Paper and Gould, along with the access to Gould's resources and systems, will significantly enhance Southern's platform for growth and improved customer service. We will begin immediately to combine the sales and marketing initiatives; however, the continuation of Southern's approach to the market will be unchanged."

Southern Paper is a privately held paper merchant headquartered in Miami, and was established in 1997.

Founded in 1924 and headquartered in New York City, Gould Paper Corporation has revenues in excess of USD 1 billion and is a member of the "quartet" that comprises North America's largest distributors of printing and business papers. Gould has operations throughout the United States and internationally in the United Kingdom; Paris, France; Helsinki, Finland; Dubai; Singapore; Auckland, New Zealand; Hong Kong; Shanghai, China; and Manila, Philippines. For more information on Gould, visit our website at www.gouldpaper.com.

Source: Gould Paper Corporation

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