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Schweitzer-Mauduit Announces Fourth Quarter 2008 Results 

Schweitzer-Mauduit International, Inc. (NYSE: SWM) today reported a fourth quarter 2008 net loss of $6.8 million compared to net income of $2.5 million during the fourth quarter of 2007. The loss per share was $0.44 compared to diluted earnings per share of $0.16 in the prior-year quarter. Restructuring and impairment expenses decreased earnings during the fourth quarter of 2008 by $13.8 million before taxes, or $0.58 per share. In 2008, fourth quarter earnings without restructuring and impairment expenses were $0.14 per share, a decrease of 2 cents relative to the diluted earnings excluding restructuring and impairment expense of $0.16 per share for the fourth quarter of 2007.

Frederic Villoutreix, Chairman of the Board and Chief Executive Officer, commented that, "Schweitzer-Mauduit's results for the fourth quarter of 2008 contained items that offset the underlying continued improvement in our business. These items included asset impairment charges, which are included with restructuring expenses, a deferred income tax effect from a reorganization of legal entities and severance expenses associated with management changes primarily in France. We continued to realize earnings improvement from increased sales volumes for reconstituted tobacco leaf and cigarette paper for lower ignition propensity cigarettes, and we began to realize favorable foreign currency impacts and a lower level of inflationary cost increases.

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