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Westvaco Announces the Election of Two New Directors

Press release from the issuing company

NEW YORK--June 27, 2001--Westvaco Corporation today announced the election of Richard B. Kelson and Robert C. McCormack to its Board of Directors. Mr. Kelson is Executive Vice President and Chief Financial Officer of Alcoa, Inc., and Mr. McCormack is a founding partner of Trident Capital. "I am delighted that Rick and Bob have agreed to become directors of Westvaco,'' said John A. Luke, Jr., Chairman and Chief Executive Officer of Westvaco. "Each brings to our Board broad vision as well as an extraordinary record of accomplishment in business and financial affairs. Their insights will be especially valuable to our company as we continue to refine and implement our strategies to achieve higher financial returns.'' Mr. Kelson was named Executive Vice President and Chief Financial Officer of Alcoa in May 1997, where he has played a key role in developing and implementing that company's successful business strategies. Previously, he served Alcoa as Executive Vice President for Environment, Health and Safety and General Counsel. He joined Alcoa in 1974 as an attorney and subsequently held several positions in the company's law department. Mr. Kelson is a member of the Board of Trustees of Carnegie Mellon University. He is also a member of the University of Pittsburgh Law School Board of Visitors and the Civic Light Opera. Mr. Kelson holds a bachelor's degree in political science from the University of Pennsylvania and a law degree from the University of Pittsburgh. Mr. McCormack joined Trident Capital in 1993 as a founding partner and a Managing Director. The company is a private equity investment business that invests in information and business services companies. Mr. McCormack was an investment banker with both Dillon Read & Co. and Morgan Stanley & Co. from 1968 to 1987. In 1987 he joined the Office of the Secretary of Defense, where he held several senior positions. From 1990 to 1993, he served as Assistant Secretary of the Navy and Comptroller of the Navy. Mr. McCormack is a director of Devry, Inc., Illinois Tool Works, Inc., and Northern Trust Corp. He earned a B.A. from the University of North Carolina and an M.B.A. from the University of Chicago.

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