Fortress announces issuer bid for company shares


    TSX: FTP

    VANCOUVER, March 19 /CNW/ - Fortress Paper Ltd. ("Fortress") announced
today that the Toronto Stock Exchange (the "Exchange") has accepted Fortress'
notice of intention to make a normal course issuer bid for its common shares
through the facilities of the Exchange. On March 25, 2008, Fortress may
commence making purchases of up to a maximum of 75,000 common shares, which
represents approximately 1.0% of the 7,836,800 common shares of Fortress held
by persons other than senior officers, directors and principal shareholders of
Fortress as at the date hereof. Fortress believes that the normal course
issuer bid represents a desirable use of corporate funds and is being
established to enhance shareholder value. Any shares acquired will be
purchased at the market price up to a maximum of 5,030 common shares per day,
subject to the block purchase exemption, and will be cancelled following
    The bid will terminate on the earlier of the date determined by Fortress
and March 24, 2009. Fortress currently has 10,203,500 issued and outstanding
common shares.

    About Fortress Paper Ltd.:

    Fortress Paper is a leading international producer of security and other
specialty papers. Fortress Paper operates two paper mills, the Landqart Mill
located in Switzerland and the Dresden Mill located in Germany. Fortress
Paper's security papers include banknote, passport and visa papers and its
specialty papers include non-woven wallpaper base products, and graphic and
technical papers. As an extension of its security papers business, the
Landqart Mill has been actively developing and marketing innovative
paper-based security products.

    Forward-Looking Statements

    Some information in this news release contains certain forward-looking
statements that reflect the current views and/or expectations of the Company
with respect to its performance, business and future events. The reader is
cautioned that forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements
including, without limitation, those relating to damage to our reputation,
competition, maintaining our market position, marketability and price of our
products, technology and protection of our intellectual property, dependence
on our major customers, fluctuations in the price and supply of raw materials,
fluctuations in foreign exchange and other risk factors detailed in our
filings with Canadian securities regulatory authorities. These risks, as well
as others, could cause actual results and events to vary significantly.
Fortress Paper Ltd. does not undertake any obligations to release publicly any
revisions for updating any voluntary forward-looking statements

For further information:

For further information: Chadwick Wasilenkoff, Fortress Paper Ltd.,
(604) 904-2328,

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