Vaughan Bassett Joins Neucel's Sales and Marketing Team

    PORT ALICE, BRITISH COLUMBIA, November 27 /CNW/ - Neucel Specialty
Cellulose announced that Vaughan Bassett has joined Neucel's sales and
marketing team and will lead the sales effort of Neucel's viscose and filament
grade chemical cellulose products.

    Prior to joining Neucel, Vaughan Bassett spent over 18 years with Sappi
Limited, most recently as general manager at Sappi Trading. At Sappi Trading,
Mr. Bassett was responsible for global market pulp sales for the pulp produced
at Sappi Limited's South African production facilities.

    "We are very excited that Vaughan Bassett has joined our Neucel team. We
are experiencing strong demand for Neucel's hemlock-based chemical cellulose
products and Vaughan will provide invaluable help in further strengthening our
customer relationships and solidifying our strong marketplace position," said
CEO Bob Taylor.

    About Neucel:

    Neucel produces hemlock-based high-purity chemical cellulose for
pharmaceuticals, consumer products, film, food thickeners, fabrics, LCD
screens, eyeglass lenses, and other products. Neucel Specialty Cellulose is
owned by a consortium of investors, lead by Wellspring Capital Management and
GSC Group. For more information on Neucel Specialty Cellulose, visit the
company newsroom at

    Wellspring is a New York-based private equity firm that has consistently
ranked among the top performing private equity funds specializing in the
middle market. Wellspring currently manages more than $2 billion in equity
capital on behalf of some of the largest and most respected institutional
investors in the United States, Canada, and Europe. For more information about
the firm, please visit

    GSC Group is a registered investment advisor with more than $24 billion
of assets under management. The firm specializes in credit-driven investing
including corporate credit, equity and distressed investing and real estate.
GSC Group, with over 180 employees, has offices in New Jersey, New York and
London. GSC's investors include both institutional investors and substantial
net worth individuals seeking sophisticated and attractive alternative
investing opportunities. For more information about the firm, please visit

For further information:

For further information: Neucel Specialty Cellulose Brenda Allen,

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