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Schweitzer-Mauduit Completes New Syndicated Revolving Bank Credit Facility
Alpharetta, Georgia, USA, 21 July 2006 -- /PRNewswire/ -- Schweitzer-Mauduit International, Inc. (NYSE: SWM) today announced the successful completion and signing of a new multicurrency revolving bank credit facility in the amount of approximately USD 195 million that will be effective 31 July 2006.

The new arrangement replaces an existing bank credit facility of approximately USD 135 million that has been in place since January 2002 and which expires in January 2007. The new facility consists of two tranches, a USD 95 million tranche and an EUR 80 million tranche. Both tranches have a five-year maturity, with two one-year extension options exercizable on the first and second anniversary, subject to the banks' consent.

Natexis Banques Populaires, Societe Generale Corporate & Investment Banking, and SunTrust Robinson Humphrey, a division of SunTrust Capital Markets, Inc., acted as Mandated Lead Arrangers. Societe Generale Corporate & Investment Banking was the sole bookrunner for the transaction. The other participating banks include JP Morgan Chase, Credit Lyonnais, BNP Paribas, and the Bank of China. The facility was oversubscribed, but the company opted not to increase the facility amount. The facility will be used to refinance the existing bank credit facility and for general corporate purposes.

Paul C. Roberts, SWM's chief financial officer and treasurer, said "We are very pleased with the support and confidence shown by the banking community for Schweitzer-Mauduit and we look forward to building upon our relationships with the banks that have committed to the new credit facility. The increased amount of the facility and its favorable terms will provide us greater flexibility to pursue possible restructuring activities in France and the United States and various strategic opportunities."

Schweitzer-Mauduit International, Inc. is a diversified producer of premium specialty papers and the world's largest supplier of fine papers to the tobacco industry. It also manufactures specialty papers for use in alkaline batteries, vacuum cleaner bags, overlay products, saturating base papers, business forms, and printing and packaging applications. Schweitzer-Mauduit and its subsidiaries conduct business in more than 90 countries and employ 3600 people worldwide, with operations in the United States, France, Brazil, the Philippines, Indonesia, and Canada. For further information, visit www.schweitzer-mauduit.com.


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