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Schweitzer-Mauduit Announces Third Quarter 2007 Results 

Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a third quarter 2007 net loss of $4.3 million, which included $18.2 million in pre-tax restructuring expenses, compared with a net loss of $1.7 million during the third quarter of 2006. The diluted loss per share was $0.27 compared with a diluted loss per share of $0.11 in the prior-year quarter. Restructuring expenses reduced third quarter earnings per share by $0.73 in 2007 and $0.52 in 2006. Excluding restructuring expenses, earnings per share for the third quarter of 2007 and 2006 would have been $0.46 and $0.41, respectively. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit's net loss for the third quarter of 2007 primarily reflected increased expenses associated with restructuring activities in the United States, France and Brazil. Excluding restructuring expenses from both 2007 and 2006, earnings improved during the third quarter of 2007 over the prior-year period, with operating profit increasing 58 percent. This stemmed from increased demand and higher production capacity utilization for reconstituted tobacco leaf products. Also, sales volume growth and improved manufacturing costs were achieved for lower ignition propensity-related cigarette papers.

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