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Mead and Westvaco Start Trading as One Company

Thursday, January 31, 2002

Press release from the issuing company

STAMFORD, Conn., Jan. 30 /-- The Mead Corporation and Westvaco Corporation today announced the completion of a merger of equals. MeadWestvaco Corporation will trade under the ticker symbol MWV on the New York Stock Exchange. The merger was announced on August 29, 2001, and was approved by the shareholders of both companies on January 28, 2002. MeadWestvaco has approximately $8 billion in annual revenues and exceptional global platforms in the company's four core businesses - packaging, coated and specialty papers, consumer and office products, and specialty chemicals. "With MeadWestvaco, we are creating an exceptional new company,'' said Jerry Tatar, Chairman. "We have leading positions in our core businesses, a value-added orientation for our business portfolio, world-class assets and a highly modern and efficient infrastructure.'' John A. Luke, Jr., President and Chief Executive Officer, added, "With this combination and the powerful businesses it creates, we are well positioned to deliver higher returns to shareholders. Our plan to achieve $325 million in synergies is just the first step toward this goal.'' The Board of Directors of MeadWestvaco consists of equal representation from Mead and Westvaco. The Board members are: John G. Breen, Michael E. Campbell, Dr. Thomas W. Cole, Jr., Duane E. Collins, David F. D'Alessandro, William E. Hoglund, James G. Kaiser, Richard B. Kelson, John A. Krol, Susan J. Kropf, Douglas S. Luke, John A. Luke, Jr., Robert C. McCormack, Lee J. Styslinger, Jr., Jerome F. Tatar, Jane L. Warner, J. Lawrence Wilson and Richard A. Zimmerman.




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