NewPage Enters Chapter 11 Restructuring Process

Separately, the company’s Canadian subsidiary, NewPage Port Hawkesbury Corp., has brought proceedings before the Supreme Court of Nova Scotia under the Companies’ Creditors Arrangement Act of Canada (“CCAA”). In order to maximize efficiency in both the U.S. and Canadian Court processes, NewPage Corporation and NewPage Port Hawkesbury Corp. have executed a Settlement and Transition Agreement, subject to approval by the Canadian Court.