March 29, 2002

Nippon Paper Industries Unveils Names of Three New Subsidiaries

Nippon Paper Industries Co., Ltd.

Tokyo, March 29, 2002 - Nippon Paper Industries Co., Ltd., Japan's leading paper and pulp manufacturing firm and a member of the Nippon Unipac Holding Group, today announced the names of its three new subsidiaries that will begin operations in October 2002. The company's plan to split off three of its non-paper milling divisions and establish three new subsidiaries from them was announced last November.
The names of the three independent companies will be Nippon Paper Lumber Co., Ltd. (Kita-ku, Tokyo), which will market and trade lumber and lumber products; NIPPON PAPER-PAK CO., LTD. (Shinjuku-ku, Tokyo), which will produce and market liquid containers and other paper packaging; and Nippon Paper Chemicals Co., Ltd. (Chiyoda-ku, Tokyo), which will manufacture and market dissolving pulp and chemical products, including high polymers, chlorinated polypropylene products, sweeteners, CMC (carboxymethyl cellulose), cellulose powder, and fermented products (ribonucleic acid, yeast).