Neenah Paper Joins Chicago Climate Exchange

Alpharetta, Georgia, USA, 24 May 2007 -- /PRNewswire/ -- Neenah Paper, Inc. (NYSE:NP),the country's foremost premium paper manufacturer, has joined the Chicago Climate Exchange (CCX)). CCX is the world's first and North America's only voluntary but legally binding greenhouse gas emissions reduction registry and trading program.

By joining CCX, Neenah Paper has not only committed to tracking and reporting carbon dioxide emissions, but also to achieving a 6% reduction by 2010 versus their baseline. Other well-known member companies include Rolls-Royce, Ford Motor Company, DuPont, Eastman Kodak, and Intel.

CCX's trading system establishes limits on overall emissions and sets company allowances for members. Businesses with emissions below their allowances can trade the remainder to other companies, whereas businesses that do not achieve their committed emissions levels must purchase credits.

"By joining the Chicago Climate Exchange's growing program, Neenah Paper not only has committed to reducing emissions but has also agreed to be both transparent and accountable in regard to our sustainable practices and targeted improvements," said Sean Erwin, chief executive officer of Neenah Paper. "Neenah Paper is committed to the responsible stewardship of the environment and resources we use to provide products to our customers. As a leader in our markets, it is important to send a message to our employees, stakeholders and customers about our commitment to the systematic reduction of our environmental footprint."

This is the latest step in Neenah Paper's history of environmentally friendly actions and practices. Neenah has also committed to aggressively reducing its environmental footprint by using renewable energy sources, including "Green Steam," and obtaining third-party certification by Green Seal, the Forest Stewardship Council, and the Chlorine Free Products Association. Neenah Paper is a member of the Environmental Protection Agency's (EPA) Green Power Partnership and was recognized last year for its purchase of Green-e Certified renewable energy, making the company the largest purchaser of renewable energy in the state of Wisconsin at that time.

"Neenah Paper's spirit of innovation has kept it ahead of the curve among sustainable businesses," said Richard L. Sandor, CCX's chairman and chief executive officer. "Neenah serves as a beacon for other companies with their environmental initiatives to pursue the most cost-efficient way of reducing emissions, and therefore enhance relationships with customers, employees, governments and communities."

About Neenah Paper, Inc.

Neenah Paper, Inc. manufactures and distributes a wide range of premium and specialty paper grades. As a proud consumer of Green Energy and a U.S. EPA Green Power Partner, the company manufactures many brands carrying the Green-E, Green Seal, Forest Stewardship Council (FSC), and Processed Chlorine Free (PCF) certifications. Neenah Paper is based in Alpharetta, Georgia, and has manufacturing operations in the United States, Canada, and Germany. Additional information about Neenah Paper can be found at the company's Wweb site at http://www.neenah.com/.

About Chicago Climate Exchange, Inc.

CCX is a financial institution whose objectives are to apply financial innovation and incentives to advance social, environmental, and economic goals. CCX is the world's first and North America's only legally binding rules-based greenhouse gas emissions allowance trading system, and the world's only global system for emissions trading based on all six greenhouse gases. CCX members are leaders in greenhouse gas management and represent all sectors of the global economy, as well as public sector innovators. Reductions achieved through CCX are the only reductions in North America being achieved through a legally binding compliance regime, providing independent third party verification provided by NASD and price transparency. For a full list of CCX members, daily prices, and other Exchange information, see http://www.chicagoclimateexchange.com/.

CCX, a U.S. corporation, launched its trading platform in 2003. In 2005, CCX launched the European Climate Exchange (ECX), now the leading exchange operating in the European Union Emissions Trading Scheme. Since 2006, both CCX and ECX have been owned by Climate Exchange Plc, a publicly traded company listed on the AIM of the London Stock Exchange.

Source: Neenah Paper, Inc.