Ryan & Maniskas, LLP Announces Investigation of Cellu Tissue Holdings Inc.

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/clu) is investigating potential claims against the board of directors of Cellu Tissue Holdings Inc. ("Cellu Tissue" or the "Company") (NYSE:CLU) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Cellu Tissue to Clearwater Paper Corporation in a transaction with a value of approximately $502 million, including assumed debt.

Our investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Cellu Tissue. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at [phone] or by email at [e-mail] or visit: www.rmclasslaw.com/cases/clu.

Under the terms of the agreement, Cellu Tissue shareholders will receive $12.00 in cash for each share of Cellu Tissue common stock they hold.

If you own shares of Cellu Tissue and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at [phone] or to sign up online, visit: www.rmclasslaw.com/cases/clu. You may also email Mr. Maniskas at [e-mail]. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan and Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.