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Smurfit-Stone Announces Downtime at Fernandina Beach Containerboard Mill

FERNANDINA BEACH, FL (April 12, 2001) -- Smurfit-Stone Container Corporation (Nasdaq: SSCC) today announced its intent to temporarily cease production and lay off the hourly workforce on the No. 2 Paper Machine at its Fernandina Beach, FL, Mill.

The decision to take downtime was based on projected market conditions and higher energy costs. A total of 35 hourly employees will be affected.

The Fernandina Beach Mill employs 610 people and has annual linerboard capacity of approximately 985,000 tons. The No. 2 machine produces approximately 573 tons of linerboard 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.