April 04, 2006 16:50 ET

Roman Corporation Executes Asset Purchase Agreement for the Sale of its Business

TORONTO, ONTARIO--(CCNMatthews - April 4, 2006) - Roman Corporation Limited (TSX:RMN) announced today that on March 31, 2006 it entered into an asset purchase agreement with CANAMPAC ULC, a subsidiary of Forest Resources LLC, for the sale of substantially all of its assets, including its Strathcona Paper and Boehmer Box businesses. Forest Resources is engaged in the manufacture and sale of paper and packaging and operates from 11 facilities across North America. Forest Resources is an affiliate of Atlas Holdings LLC, a diversified industrial company with interests in paper and packaging, specialty steel, wood products and industrial services.

Roman filed for protection under the Companies' Creditors Arrangement Act (CCAA) on January 31, 2006. Roman obtained court approval of the Asset Purchase Agreement on March 31, 2006, and it expects that the closing of the sale transaction will occur on May 1, 2006. The closing of the sale is subject to certain closing conditions being met by that date. Roman's shareholders will not receive any value for their shares as a result of the sale transaction and its shares have been suspended from trading by the Toronto Stock Exchange.

Roman Corporation Limited through its Strathcona Paper and Boehmer Box divisions is a leading manufacturer and converter of paperboard packaging for the consumer packaged goods industry. The Company's products are the packaging choice for some of the most recognizable national and private label brand manufacturers in North America. Consumer goods packaged with the Company's products range from food and household goods such as frozen and dry food, beverages, powdered laundry detergent, batteries and light bulbs to toys, pet products and hardware.

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