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Westvaco Acquires Interest In Wall MM Gravure Krakow Sp. z o.o.

Press release from the issuing company

NEW YORK-June 29, 2001--Westvaco Corporation announced today that it has acquired from Mayr-Melnhof Karton AG its 50 percent interest in Wall MM Gravure Krakow Sp. z o.o., a joint venture between Alfred Wall AG and Mayr-Melnhof that owns and operates a consumer packaging plant in Krakow, Poland. At the same time, Westvaco acquired Mayr-Melnhof's minority interest in Alfred Wall AG. The agreements will enable each company to pursue independent strategies for their respective consumer packaging businesses. Terms were not disclosed. Westvaco completed its acquisition of a majority interest in Alfred Wall AG in May 2001. Based in Graz, Austria, Wall is one of Europe's leading suppliers of a wide range of consumer packaging products. Wall employs nearly 900 people and operates six packaging plants in four European countries. Westvaco Corporation, headquartered in New York, NY, is a major producer of packaging, paper and specialty chemicals. The company serves customers in more than 70 countries with operations in the United States, South America and Europe.