Fraser Papers Inc.
TSX : FPS

Fraser Papers Inc.

September 24, 2007 17:05 ET

Fraser Papers Announces Temporary Shutdown of Sawmill

TORONTO, ONTARIO--(Marketwire - Sept. 24, 2007) -

(All monetary references are in US dollars unless otherwise noted)

Fraser Papers Inc. ("Fraser Papers" or the "Company") (TSX:FPS) announced today the temporary shutdown of its sawmill located in Plaster Rock, New Brunswick beginning October 1, 2007, due to weak market conditions. The Company expects the shutdown to be two weeks in duration, depending on market conditions. This temporary shutdown will affect approximately 175 employees.

Fraser Papers is an integrated specialty paper company which 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 the temporary shutdown of a sawmill. The words "expect", "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 the Company to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements. Factors that could cause the duration of the temporary shutdown to differ materially from that set forth in the forward-looking statements include general economic conditions, interest rates, foreign exchange rates, supply and demand of new and existing housing in North America, prices and demand for the Company's products and other risks detailed from time to time in the documents filed by the Company with the securities regulators in Canada. The Company 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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