AFFILIATES OF WHITE BIRCH PAPER COMPANY
TO ACQUIRE SP NEWSPRINT CO.

ATLANTA - January 18, 2008 - SP Newsprint Co. ("SP Newsprint"), a privately held
producer of newsprint, owned in an equal, general partnership by affiliates of Cox
Enterprises, Inc., Media General, Inc. and The McClatchy Company, announced today that it
has entered into an agreement with certain affiliates of Peter Brant, who is the controlling
shareholder of White Birch Paper Company ("White Birch Paper"), to be acquired for $350
million in an all-cash transaction. Pending the receipt of regulatory approval, the acquisition is
expected to close during the first four months of 2008. Subject to obtaining certain consents,
it is expected that SP Newsprint will become a subsidiary of White Birch Paper.

The transaction is the result of a strategic review undertaken by SP Newsprint to evaluate
alternatives to position the company for continued long-term success and maximize the value
of the business. The sale includes the company's two newsprint mills in the United States as
well as SP Recycling Corp., SP Newsprint's wholly owned recycling subsidiary.

"SP Newsprint's world-class assets, power generating facilities and recycling organization
present a compelling opportunity," said Peter Brant, chairman &chief executive officer, White
Birch Paper. "This acquisition is expected to broaden our geographic ability to supply our
u.S. and foreign customers and provide White Birch Paper with a strong platform to expand
in the recycling business."

TO Securities (USA) LLC acted as financial advisor to SP Newsprint in connection with this
transaction. The financing is being underwritten by GE Corporate Lending and arranged by
GE Capital Markets.

About SP Newsprint Co.
SP Newsprint Co. (SP) is a general partnership among affiliates of Cox Enterprises, Inc.,
Media General, Inc. and The McClatchy Company. Headquartered in Atlanta, Georgia, the
company operates newsprint mills in Dublin, Georgia, and Newberg, Oregon as well as SP
Recycling Corp, a wholly owned fiber procurement subsidiary with facilities primarily in the
Southeast and Western portions of the United States. Annual newsprint production totals
approximately one million tons.

About White Birch Paper Company
White Birch Paper is the second largest producer of newsprint in North America with
production totaling approximately 1.35 million metric tons. The company's manufacturing
facilities are located in Riviere du Loup, Quebec, Ashland, Virginia, Quebec City, Quebec,
and Gatineau, Quebec. In addition to newsprint, the company produces directory paper and
paper board products.

Press Contact
Cindy Leggett-Flynn
Brunswick Group
(212) 333-3810