Richmond, Virginia, USA, 10 October 2007 -– MeadWestvaco Corporation (NYSE: MWV) today announced that is has completed the sale of approximately 228,000 acres of owned forestland and approximately 95,000 acres under long-term timber contracts for USD 400 million to Wells Timberland REIT.

The sale is part of MeadWestvaco’s previously announced strategy to segment and manage its domestic land holdings for the highest value opportunities. The company intends to return proceeds from this sale to its shareholders.

Under the terms of the sale, MeadWestvaco has a long-term fiber supply agreement with Wells Timberland REIT to provide fiber to the company’s paperboard mill in Cottonton, Alabama. This fiber will be sold at market price and the forestlands will continue to be managed and third party certified under the requirements of the Sustainable Forestry Initiative® Standard.

About MeadWestvaco

MeadWestvaco Corporation (NYSE: MWV) provides packaging solutions to many of the world’s most-admired brands in the food and beverage, media and entertainment, personal care, home and garden, cosmetics, and healthcare industries. The company has market-leading positions in its Consumer & Office Products and Specialty Chemicals businesses, and operates in more than 30 countries. MeadWestvaco manages all of its forestlands in accordance with internationally recognized forest certification standards, and has been named to the Dow Jones Sustainability World Index for the fourth consecutive year. For more information, visit www.meadwestvaco.com.