December 20, 2002

Reorganization of Nippon Unipac Holding Group

Nippon Unipac Holding
Nippon Paper Industries Co., Ltd.
Daishowa Paper Manufacturing Co., Ltd.
Japan Paperboard Industries Co., Ltd.
Nippon Paper Sales Co., Ltd.
Nippon Paperboard Sales Co., Ltd.

The reorganization, previously announced on April 23, and November 11, 2002, was resolved today by the board of directors of each company.