Fortress Paper Ltd.

Fortress Paper Ltd.

February 24, 2009 09:15 ET

Fortress Paper Appoints New Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2009) -


Fortress Paper Ltd. ("Fortress Paper" or the "Corporation") (TSX:FTP)(FRANKFURT:LII) is pleased to announce the appointments of Mr. Roland Tornare and Mr. John Coleman to the board of directors of the Corporation effective immediately.

Mr. Tornare has been with the Swiss National Bank (the "SNB") since 1967 where he worked in the security and internal audit department before joining the bank note issue department. During his employment with the SNB, Mr. Tornare assumed a variety of positions, and in 1995 was appointed executive director of the bank note issue department and branches until his retirement at the end of June 2008. In his position as executive director, Mr. Tornare managed the development and issuance of the last two banknote series for Switzerland. Mr. Tornare has also been a member of the European Banknote Conference for 23 years and has chaired its policy committee and advisory group for 5 years. During the last 25 years, Mr. Tornare has advised numerous central banks on a variety of matters and is currently an independent advisor for several central banks in the development of new banknote series and cash organisations. Mr. Tornare has a Swiss Federal Diploma in Banking and a Diploma from the Swiss Business and Management School.

Mr. Coleman has over 40 years of experience in security printing as a director and in administration positions with some of the leading security printing companies in Switzerland. For the past 19 years, Mr. Coleman has held the position of managing director for Orell Fussli Security Paper Ltd., the printers for Swiss banknotes and passports as well as currencies and security papers for dozens of other countries. From 1968 to 1980, Mr. Coleman was head of administration and business development security printing for Fretz Brothers Ltd. (Switzerland). Mr. Coleman holds a BSc. in Printing Technologies and an Executive MBA.

Fortress Paper also announced the resignation of Jimmy S.H. Lee from the board of directors of the Corporation effective immediately. Fortress Paper would like to thank Mr. Lee for all of his valuable contributions and wishes him all the best in his future endeavors.

Following the appointments of Mr. Tornare and Mr. Coleman, Fortress Paper's board of directors consists of 6 members.

About Fortress Paper

Fortress Paper is a leading international producer of security and other specialty papers. Fortress Paper operates two paper mills, the Landqart Mill located in Switzerland and the Dresden Mill located in Germany. Fortress Paper's security papers include banknote, passport and visa papers and its specialty papers include non-woven wallpaper base products, and graphic and technical papers. As an extension of its security papers business, the Landqart Mill has been actively developing and marketing innovative paper-based security products.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fortress Paper Ltd. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, regulatory requirements, competition and other risk factors listed from time to time in the Corporation's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Fortress Paper Ltd. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

Contact Information