FiberMark Receives Approval for Disclosure Statement

FiberMark, Inc. announced that the U.S. Bankruptcy Court for the District of Vermont has approved the Disclosure Statement related to its Plan of Reorganization as filed earlier this month. The approved Disclosure Statement is substantially identical to the document filed August 25, 2005, with revisions that addressed certain objections to the Disclosure Statement.

FiberMark also announced that the company's key bondholders have agreed to settle the issues identified in the examiner's report on terms reflecting the spirit of the examiner's recommendations.

Accordingly, the Bankruptcy Court has agreed to defer the commencement of voting pursuant to the approved Disclosure Statement for two weeks to allow time to finalize the settlement terms. If the settlement is finalized, the company expects to file a revised Disclosure Statement and Plan of Reorganization by September 23 that incorporates these terms. In the absence of a finalized settlement, the company will move forward with voting on its Plan of Reorganization as currently drafted.

The date for the confirmation hearing will be finalized on or about September 23. The company continues to expect that it will have a confirmed Plan of Reorganization before the end of 2005.