<b>Crown Vantage Seeks to Sell La. Mill</b>

Crown Vantage Inc. and its wholly owned subsidiary Crown Paper Co. have filed a motion with the United States Bankruptcy Court in Oakland, Calif., seeking approval of a sale of their mill in St. Francisville, La, and certain related assets to either CV Paper LLC, a newly formed entity created by certain of Crown's existing bank lenders, or to any party with a higher or better offer.

The proposed sale to CV Paper, structured as a sale of assets under Section 363 of the Bankruptcy Code, is subject to the receipt of higher and better offers, to Bankruptcy Court approval and certain other customary conditions. Pursuant to an order of the Bankruptcy Court, any competing offers must be submitted prior to April 20. A hearing before the Bankruptcy Court is scheduled for April 27, which hearing may be adjourned from time to time by the Bankruptcy Court.

Crown Vantage and Crown Paper filed for Chapter 11 on March 15. Pursuant to the Bankruptcy Code, they have continued to manage and possess all of their properties not otherwise sold or abandoned.