Fortress Paper Agrees to Sell Dresden Mill for EUR160 Million

Fortress Paper Ltd. ("Fortress Paper" or the "Company") (TSX:FTP) is pleased to
announce that it and its wholly owned subsidiary, Fortress Security Papers AG
("FSP"), have entered into a share purchase agreement (the "Share Purchase
Agreement") with Glatfelter Gernsbach GmbH & Co. KG ("Glatfelter Gernsbach") and
its parent, P.H. Glatfelter Co. ("Glatfelter"), pursuant to which FSP has agreed
to sell all of the shares of its wholly owned subsidiary, Dresden Papier GmbH
("Dresden"), to Glatfelter Gernsbach for an aggregate purchase price of
EUR160,000,000 (CDN$213 million), subject to working capital adjustment. The
transaction is expected to close within the second quarter of 2013, but no later
than June 30, 2013, and is subject to certain customary conditions, including
governmental anti-trust approvals in Germany and the Ukraine. 


Pursuant to the terms of the Share Purchase Agreement, the Company has agreed to
guarantee the obligations of FSP and Glatfelter has agreed to guarantee the
obligations of Glatfelter Gernsbach thereunder.


Dresden owns and operates the Company's Dresden Mill, a producer of non-woven
wallpaper base paper operating in Germany. 


Chadwick Wasilenkoff, President and Chief Executive Officer of Fortress Paper,
commented "The sale of the Dresden Mill is an important step in Fortress Paper
becoming a more focused global leader in the dissolving pulp industry. The
transaction was part of our strategic plan to achieve significant liquidity to
enhance future growth opportunities. We are very pleased to have been able to
reach an agreement with P.H. Glatfelter and look forward to the finalization of
the sale. We would also like to acknowledge the contributions of the Dresden
management team over the years and wish them every success in the future."


About Fortress Paper

Fortress Paper operates internationally in three distinct business segments:
dissolving pulp, specialty papers and security paper products. The Company
operates its dissolving pulp business at the Fortress Specialty Cellulose Mill
located in Canada, which is also in the process of expanding into the renewable
energy generation sector with the construction of a cogeneration facility. The
Company is also seeking to expand its dissolving pulp capacity with the recent
acquisition of Fortress Global Cellulose Mill located at Lebel-sur-Quevillon,
Quebec, which the Company intends to convert into a dissolving pulp mill and
where the Company intends to re-start the cogeneration facility.


The Company operates its specialty papers business at the Dresden Mill located
in Germany, where it is a leading international producer of specialty non-woven
wallpaper base products. As of the closing date of the Share Purchase Agreement,
the Company will no longer operate in this industry. 


The Company operates its security paper products business at the Landqart Mill
located in Switzerland, where it produces banknote, passport, visa and other
brand protection and security papers, and at its Fortress Optical Facility
located in Canada, where it manufactures optically variable thin film material.


This news release contains certain forward-looking information that reflect the
current views and/or expectations of the Company with respect to its
expectations, beliefs, assumptions, estimates and forecasts about its business
and the industry and markets in which it operates. The reader is cautioned that
statements comprising forward-looking information are not guarantees of future
performance and involve known and unknown risks, uncertainties, assumptions and
other factors which are difficult to predict and that may cause actual results
or events to differ materially from those anticipated in such forward-looking
information. Accordingly, readers should not place undue reliance on
forward-looking information. Examples of such forward-looking information that
may be contained in this news release include the anticipated timing and closing
of the Share Purchase Agreement. Assumptions underlying the Company's
expectations regarding forward-looking information contained in this news
release include, among others: that the Company will be able to satisfy the
closing conditions of the Share Purchase Agreement; and that all required
governmental consents and approvals for the Share Purchase Agreement will be
granted in a timely manner. Persons reading this news release are cautioned that
statements comprising forward-looking information are only predictions, and that
the Company's actual future results or performance are subject to certain risks
and uncertainties including, without limitation: that the closing conditions
related to the transaction will not be satisfied or waived; that required
approvals will not be obtained in the anticipated timeframe or at all; and other
risk factors listed from time to time in the Company's public filings. These
risks, as well as others, could cause actual results and events to vary
significantly. Accordingly, readers should not place undue reliance on
statements comprising forward-looking information, which are qualified in their
entirety by this cautionary statement. Fortress Paper does not undertake any
obligations to release publicly any revisions for updating any voluntary
forward-looking information, except as required by applicable securities law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Fortress Paper Ltd.
Chadwick Wasilenkoff
604-904-2328
[e-mail]
www.fortresspaper.com