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Smurfit-Stone Further Curtails Missoula Mill Operation

MISSOULA, March 28, 2001 – Smurfit-Stone Container Corporation (Nasdaq: SSCC) announced today that its Missoula, MT, containerboard mill will curtail its operation by shutting down a second paper machine beginning April 1. The mill has been operating at 75 percent of capacity with one machine shut down since March 1.

The Missoula mill has been experiencing high energy costs for some time. These high costs, combined with reduced demand for the mill’s product, have necessitated this further curtailment of the mill’s operation.

In addition to the 25 employees that were laid off in March, approximately 100-120 employees will be affected as a result of this curtailment. The mill’s third machine will continue to operate. The mill will return to full operation when energy costs moderate and overall linerboard market conditions improve. The Missoula mill has more than 620employees and a production capacity of approximately 2,200 tons per day.

Smurfit-Stone Container Corporation is the premier manufacturer of paper- and paperboard-based packaging. Smurfit-Stone holds industry-leading positions in the production of containerboard including white-top linerboard and recycled medium, corrugated containers, industrial bags, and clay-coated recycled boxboard; and is the world’s largest paper recycler. In addition, Smurfit-Stone is a leading producer of folding cartons, solid bleached sulfate, paper tubes and cores, and labels. The company operates more than 300 facilities worldwide and employs approximately 40,000 people.