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Madison Paper Announces Promotions

Press release from the issuing company

MADISON, ME, February 1, 2002 – E. Russell Drechsel, President & Chief Executive Officer of Madison Paper Industries, a leading North American manufacturer of high-quality supercalendered paper, today announced the following promotions. Advancing to new positions are Randy D. Charette, Manager of Pulping and Technical Operations; Michael R. Doiron, Manager of Paper Operations; and Francis X. Flood, Deputy to the President and CEO. Randy D. Charette Manager of Pulping and Technical Operations Prior to his promotion, Mr.Charette had been Manager of Pulping since 1998. He joined Madison in May 1988 as a Process Engineer and in 1994 was promoted to Manager of Technical Department. Mr. Charette is a graduate of the University of Maine at Orono where he earned a BS in Chemical Engineering. In 1996 he graduated from Thomas College, Waterville, ME where he received a MBA. He is a member of TAPPI and PIMA. In his new position, he will continue his leadership of the Woodyard and Pulp Mill and will assume responsibilities and overall administrative duties of the Technical and Environmental departments. Michael R. Doiron Manager of Paper Operations Mr. Doiron has been Manager of Engineering since 1994. He joined the company in 1984 as a mechanical engineer. In 1990 he was promoted to Mechanical Maintenance Supervisor and in 1991 to Project Engineer, Capital Projects and Facilities. Mr. Doiron is a graduate of the University of Maine, Orono, Maine where he earned a BS in Mechanical Engineering Technology. Mr. Doiron will have responsibility for the entire paper mill from Stock Prep to Finishing, focusing on continuously improving quality, safety, productivity and cost control. Francis X. Flood Deputy to the President and CEO Mr. Flood was recently promoted to Executive Vice President, Chief Financial Officer. He will now also assume the role of Deputy to the President and CEO. Mr. Flood joined the company as Chief Financial Officer in 1979. In 1981 he was promoted to Director of Finance. A native of Brooklyn, New York, he holds a BBA degree in Accounting from St. John’s University. He has also completed the Stanford University Professional Development Program for Executives. Mr. Flood is a member of the American Institute of Certified Public Accountants, New York State Society of CPA’s, Maine Pulp and Paper Association Taxation Committee and the Maine Chamber of Commerce Taxation Committee. He has served on the Board of Directors of the Maine Chamber of Commerce, the Western Mountain Alliance, the Finance Committee of the American Forest and Paper Association and many local and statewide charitable organizations.