Verso Paper Reports Price Increases Produce Smaller Net Loss

Verso reported a net loss of $44.6 million in the first quarter of 2011, which included $26.5 million of charges from special items primarily due to $26.1 million in pre-tax net losses related to the early retirement of debt in connection with our debt refinancing. It had a net loss of $53.6 million in the first quarter of 2010, which included $1.6 million of charges from special items primarily due to costs associated with new product development.