Jun 09, 2005. /Lesprom Network/. Buckeye Technologies Inc. announced that it has accelerated the vesting of certain unvested "out-of-the-money" stock options previously awarded to directors, officers, and employees. The effective date of the acceleration is June 7, 2005. Outstanding unvested options that are "in-the-money" will not be subject to acceleration and will continue to vest on the Company's normal schedule. Options to purchase 898,150 shares of Buckeye common stock, which would otherwise have vested over the next four years, will become fully vested, including 422,550 options held by executive officers, 70,000 options held by non-employee directors and 405,600 options held by other employees. These options represent about 19% of the total options outstanding. The total weighted average exercise price per share is $11.00. Buckeye Chairman, David B. Ferraro, commented, "The Company's decision to accelerate the vesting of these 'out-of-the-money' options is in recognition of the issuance of FAS 123(R). Accelerating the vesting of these options will result in the Company not being required to recognize compensation expense before tax of approximately $2.2 million associated with these options in fiscal 2006 and another $3.0 million in future periods. We believe this is in the best interest of the Company and its shareholders." Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, Canada, and Brazil. Its products are sold worldwide to makers of consumer and industrial goods.