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Press release from Marketwire

Fortress Announces Normal Course Issuer Bid

Wednesday, June 15, 2011

Fortress Announces Normal Course Issuer Bid09:00 EDT Wednesday, June 15, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2011) - Fortress Paper Ltd. (TSX:FTP) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.Fortress Paper Ltd. ("Fortress Paper") announced today that the Toronto Stock Exchange (the "Exchange") has accepted Fortress Paper's notice of intention to make a normal course issuer bid for its common shares through the facilities of the Exchange or any other Canadian public marketplace or alternative trading system. On June 17, 2011, Fortress Paper may commence making purchases, from time to time, of up to a maximum of 427,149 common shares, which represents approximately 3% of its 14,238,331 issued and outstanding common shares as at June 14, 2011, provided that the aggregate purchase price of such common shares does not exceed $10,000,000. Fortress Paper believes that the current market price of the common shares may not fully reflect the value of Fortress Paper's business and its future business prospects and that the normal course issuer bid represents a desirable use of corporate funds. Any shares acquired will be purchased at the market price up to a maximum of 15,289 common shares per day, subject to the block purchase exemption, and will be cancelled following purchase. The bid will terminate on June 15, 2012 or earlier if Fortress Paper has completed its purchase of common shares subject to the bid. Purchases may be suspended by Fortress Paper at any time and Fortress Paper reserves the right to terminate the bid earlier if it determines it is appropriate to do so.About Fortress Paper Ltd.Fortress Paper is a leading international producer of security and other specialty papers and products. Fortress Paper operates three mills, the Landqart Mill located in Switzerland, the Dresden Mill located in Germany and the Fortress Specialty Cellulose Mill located in Quebec, Canada. Fortress Paper's security papers include banknote, high security, passport and visa papers and its specialty papers include non-woven wallpaper base products. Fortress Paper's pulp business includes NBHK produced at the Fortress Specialty Cellulose Mill with plans to convert this capacity into dissolving pulp production along with the construction of a biomass based cogeneration plant. FOR FURTHER INFORMATION PLEASE CONTACT: Chadwick WasilenkoffFortress Paper