<B>Irving Tissue Purchases P&G Operation</B>

Irving Tissue announced plans to acquire Procter & Gamble’s tissue operations in Toronto. The acquisition will include a tissue production operations and converting plant. Irving Tissue is headquartered in New Brunswick.

The sale is expected to be complete this month.

"The Toronto operation offers additional production capacity and the well recognized Royale brand name that will provide our company with new growth opportunities in North America," said Robert Irving, president of Irving Tissue. "The Toronto operation is a solid strategic fit with our existing forestry and pulp operations. This is a long-term investment and commitment for our company. We look forward to being part of the community and working with the team of employees at the Toronto plant to ensure a smooth transition in expanding our business."

Irving Tissue operates production facilities in Saint John and Dieppe, New Brunswick as well as Fort Edward, New York.