Mosinee, WI…October 17, 2000… Wausau·Mosinee Paper Corporation (NYSE:WMO) today reported net earnings of $4.7 million or $.09 per share for the quarter ending September 30, 2000, as compared to $11.8 million or $0.23 per share for the third quarter of 1999. Adjusted for stock incentive program credits, third-quarter earnings per share would have been $0.09 in 2000 and $0.18 in 1999. Net earnings for the first nine months of 2000 were a net loss of $.4 million, or $0.01 per share, as compared to earnings of $35.6 million, or $0.68 per share, in 1999. Nine-months results for 2000 were affected by a number of unusual items, including charges for the Sorg Paper Company closure, an anti-trust settlement, and the resignation of the company's former CEO. In addition, the results for both 2000 and 1999 were affected by stock incentive program credits. Adjusted for these items, earnings for the first nine months would have been $.35 per share in 2000 and $.64 per share in 1999. Net sales for the quarter ending September 30, 2000 were $240.7 million, as compared to $245.8 million in the third quarter a year ago. Year-to-date sales in 2000 totaled $729.5 million, an increase of 3% from $706.5 million for the first nine months of last year. "Our third-quarter results were negatively impacted by weak market conditions within our Specialty Paper and Printing & Writing business units," stated Thomas J. Howatt, President and Chief Executive Officer. "These market dynamics have limited our ability to pass along rapidly rising energy costs and raw materials price increases. On a positive note, cost reduction efforts and operations improvement initiatives are generating meaningful results, while volume gains coupled with declining wastepaper prices have improved fundamentals for our away-from-home towel and tissue business." "As we look to the fourth quarter, we expect continuing gains in Towel & Tissue, but anticipate that difficult industry conditions will impact results in our Printing & Writing and Specialty Paper segments." Wausau-Mosinee Paper Corporation is a major producer of fine printing and writing papers and technical specialty papers. The company also produces and markets "away-from-home" towel and tissue products.