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Newell Holt Named President of U.S. Paper Operations for Unisource

Press release from the issuing company

NORCROSS, Ga.--June 16, 2004-- Unisource Worldwide, Inc., one of the leading distributors of paper, packaging and facility supplies in North America, today announced the appointment of Newell Holt as President of its Paper business in the United States. Holt brings over thirty years of managerial, sales and marketing experience in the paper industry to Unisource, and will report directly to Unisource CEO Al Dragone. Holt, 57, will be based at the company's headquarters in Norcross, GA. He most recently served as Senior Vice President for the Midwest Region of xpedx, a unit of International Paper Company, a position he has held since 2002. From 1999-2002, he was Vice President of International Paper's bleached board manufacturing division. Holt began his career in 1969 with Dillard Paper Company, eventually rising to Vice President of Sales. He joined International Paper when it purchased Dillard Paper in 1991. "Newell is a proven leader and business manager in the paper industry with an impressive track record in sales and marketing," said Dragone. "We are confident that his appointment better positions Unisource to capitalize on the growth opportunities in the paper distribution business, while further strengthening our level of customer service." Unisource is organized in three strategic business units - paper, packaging and supplies - to focus on individual markets while leveraging its national platform. "I am excited to join Unisource as a newly-independent company with a track record of market leadership," stated Mr. Holt. "Unisource has a very comprehensive suite of products and services, and I look forward to working with the new management team and the talented employees of Unisource to further strengthen our leadership position in the paper distribution business."