Verso Corporation's Board of Directors has formed a Strategic Alternatives Committee comprised of independent directors Eugene I. Davis, Alan J. Carr and Steven D. Scheiwe, with Mr. Davis serving as chairperson.

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Verso Corporation Board of Directors forms Strategic Alternatives Committee

Verso Corporation's Board of Directors has formed a Strategic Alternatives Committee comprised of independent directors Eugene I. Davis, Alan J. Carr and Steven D. Scheiwe, with Mr. Davis serving as chairperson.

The committee, with the assistance of Houlihan Lokey Capital, Inc., the company's financial advisor, will lead Verso's continuing efforts to identify and evaluate a range of potential strategic transaction alternatives, including the possible sale of some Verso mills, engage in discussions and oversee the due diligence process with parties potentially interested in transactions with the company, and recommend to the board whether any proposed transaction is in the best interests of the company and its stockholders.

There is no assurance that the review of strategic alternatives will result in any transaction or other strategic alternative. Verso does not intend to make any further disclosure concerning these matters until a definitive transaction agreement is reached or a determination is made that none will be pursued.

Verso Corporation is the leading North American producer of printing and specialty papers and pulp.