Aug. 28, 2007 - Port Townsend Paper Corp. late yesterday said that it has exited bankruptcy and is operating under new ownership.

"Obviously, this is a significant event for the company," said John Begley, president and CEO.

"We are excited about the future because of the new debt structure and the opportunities it presents us. We want to thank our employees, our customers, our suppliers and our communities for their support. Without any of these key stakeholders we would not have been able to accomplish everything in the time we did," he added.

As a result of the restructuring process, Port Townsend Paper is now a private company

SOURCE: Port Townsend Paper Corp.