Fraser Papers Inc.
TSX : FPS

Fraser Papers Inc.

November 24, 2008 17:05 ET

Fraser Papers Announces Temporary Shutdown of Thurso Pulp Mill

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2008) - Fraser Papers Inc. ("Fraser Papers") (TSX:FPS) announced today that it plans to take up to 14,000 tonnes of market-related downtime at its hardwood kraft pulp mill in Thurso, Quebec. The shutdown will allow Fraser Papers to balance its pulp inventory with current customer requirements. Fraser Papers plans to close the mill December 15, 2008 and restart January 6, 2009, subject to orders.

Fraser Papers is an integrated specialty paper company that produces a broad range of specialty packaging and printing papers. The company has operations in New Brunswick, Maine, New Hampshire and Quebec. Fraser Papers is listed on the Toronto Stock Exchange under the symbol: FPS. For more information, visit the Fraser Papers web site at www.fraserpapers.com.

Note: This press release contains forward-looking information and forward-looking statements within the meaning of Canadian provincial securities laws. These forward-looking statements include, among others, statements with respect to shutdown and restart of the Thurso pulp mill. The words "plans," "will" and other expressions which may be predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. Reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Fraser Papers to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause actual results of the temporary shutdown, to differ materially from those set forth in the forward-looking statements include general economic conditions, demand for and prices of Northern Bleached Hardwood Kraft Pulp, foreign exchange rates, and other risks detailed from time to time in the documents filed by Fraser Papers with the securities regulators in Canada. Fraser Papers undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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