U.S. operations include facilities in Spring Grove Pennsylvania and Neenah, Wisconsin. International operations included facilities in Germany, France and the Philippines. The company's common stock is traded on the New York Stock Exchange under the ticker symbol GLT.

Investor Relations Information

Investor Relations information and/or inquiries should be directed to our Investor Relations Department at the following address:

Glatfelter
Investor Relations
96 South George Street
Suite 500
York, PA 17401
717-225-4711

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Live Webcast 10/30/2002 10:00:00 AM EST Q3 Earnings Release Conference Call Windows Media Player Required

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2002 Annual Shareholder's Meeting - April 24, 2002

Deutsche Banc Alex. Brown - November 27, 2001

York, PA, October 15, 2001: P. H. Glatfelter Company (NYSE: GLT) today reported its financial results for the third quarter 2001.

Third quarter net income and earnings per share for the three months ended September 30, 2001 were $10.6 million and $.25 respectively, before an unusual item associated with the sale of the Companys Ecusta Division, compared with net income and earnings per share in the year-ago quarter of $7.2 million and $.17, respectively. Third quarter 2001 results were negatively impacted by a scheduled shutdown of the co-generation plant at the Spring Grove, Pennsylvania facility and an unscheduled maintenance shutdown at the facilitys pulp mill. The impact of these shutdowns was largely offset by a gain related to a sale of land. Net sales in the quarter were $145.3 million compared with $178.0 million in the quarter a year ago. Approximately $29 million of the decline in sales is attributable to lower sales from the Ecusta Division, which was sold in August 2001.

Financial results for the third quarter did not meet our expectations, said George H. Glatfelter II, Chairman and Chief Executive Officer. Earnings were impacted by continuing weakness in the economy that had a negative influence on both product pricing and demand in the printing and writing segment of our business and by unanticipated operational difficulties experienced at the Spring Grove facility. Despite challenging economic conditions, Mr. Glatfelter said the Company remains committed to the ongoing transformation of P. H. Glatfelter Company. We believe we are taking this Company in the right direction, Mr. Glatfelter continued. The development of a highly specialized business model supported by leading-edge thinking will serve to differentiate Glatfelter from others in the industry in terms of the value created for our shareholders, customers and other constituents.

Mr. Glatfelter said that substantial and measurable financial benefits continue to be generated through the DRIVE cost reduction program. In addition, the IMPACT process improvement initiative is proceeding on target and within budget. DRIVE alone will result in an estimated $40 million in sustainable annual pre-tax cost savings beginning in November 2001 and continues to be a major factor in offsetting cost increases affecting the business. IMPACT efficiency improvements have been realized that will further enhance business capabilities in the future, Mr. Glatfelter added.

After including an unusual after-tax charge of $6.1 million (or $.14 per share) associated with the sale of its Ecusta Division, the Company reported net income and earnings per share of $4.5 million and $.11, respectively, for the third quarter of 2001.

For the first nine months of 2001, net income and earnings per share before unusual items were $37.1 million and $.87, respectively, versus net income and earnings per share of $34.0 million and $.80, respectively, for the like period in 2000. After unusual items, the Company reported a net loss and loss per share of $2.6 million and $.06, respectively, in 2001, versus net income and earnings per share of $31.9 million and $.75, respectively, in the year-earlier period. Net sales for the first nine months of 2001 were $501.2 million versus $550.1 million in for the first nine months of 2000. Approximately $43 million of the decline in sales is attributable to lower sales from the Ecusta Division. The Companys return on capital employed for the first nine months of 2001 before unusual items was approximately 11% compared to approximately 10% for the like period in 2000.

Headquartered in York, Pennsylvania, P. H. Glatfelter Company is a global manufacturer of specialty paper and engineered products. U.S. operations include mills in Spring Grove, PA and Neenah, WI. International operations include facilities in Germany, France and the Philippines. The Companys common stock is traded on the New York Stock Exchange under the ticker symbol GLT.

Any statements set forth in this press release with regard to the Companys expectations as to industry conditions, demand for or pricing of its products, its profit improvements and cost reductions, its projected financial results or cash flow, the impact of the Ecusta transaction and other aspects of its business may constitute forward-looking statements within the meaning of the Private

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York, PA, February 5, 2002: Glatfelter (NYSE: GLT) today reported its fourth quarter and annual financial results for 2001.

Fourth quarter net income and earnings per share for the three months ended December 31, 2001 were $9.5 million and $.22, respectively, compared with net income and earnings per share in the prior years fourth quarter of $12.1 million and $.29, respectively. Net sales in the quarter were $134.5 million compared with $174.6 million in the quarter a year ago. Glatfelter had approximately $36 million of sales in the fourth quarter of 2000 from its Ecusta Division, which was sold in August 2001.

Financial results for the fourth quarter were in line with our expectations, said George H. Glatfelter II, Chairman and Chief Executive Officer. Earnings were impacted by two factors: the weak domestic economy, which translated into lower product pricing and demand in the printing and converting portion of our business; and unanticipated operational difficulties at the Spring Grove facility, Mr. Glatfelter said. Clearly our ability to navigate this challenging economic landscape is indicative of the strength of the Glatfelter specialized business model, Mr. Glatfelter said. The Companys IMPACT process improvement initiative also continues to proceed on target and within budget, Mr. Glatfelter noted. IMPACT efficiency improvements have been realized that will further enhance business capabilities in the future, he said.

Before unusual items, net income and earnings per share for the year 2001 were $46.7 million and $1.09, respectively, versus net income and earnings per share of $46.1 million and $1.09, respectively, for the like period in 2000. After unusual items, the Company reported net income and earnings per share of $7.0 million and $.16, respectively, in 2001, compared to $44.0 million and $1.04, respectively, for the prior year. The Company recognized after-tax unusual item charges of $39.7 million in 2001, primarily related to the write-down and disposition of its Ecusta Division.

The Company recognized an after-tax unusual item of $2.1 million in 2000 related to certain restructuring charges. Net sales for 2001 were $635.7 million versus $724.7 million in 2000. Approximately $79 million of the decline in sales is attributable to lower sales from the Ecusta Division. The Companys return on capital employed for 2001 before unusual items was approximately 10.5% compared to 10.3% for 2000.

Headquartered in York, Pennsylvania, Glatfelter is a global manufacturer of specialty papers and engineered products. U.S. operations include facilities in Spring Grove, PA and Neenah, WI. International operations include facilities in Germany, France and the Philippines. Glatfelters common stock is traded on the New York Stock Exchange under the ticker symbol GLT.

Any statements set forth in this press release with regard to the Companys expectations as to industry conditions, demand for or pricing of its products, its profit improvements and cost reductions, its projected financial results or cash flow, the impact of the Ecusta transaction and other aspects of its business may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company makes such statements based on assumptions that it believes to be reasonable, there can be no assurance that actual results will not differ materially from the Companys expectations. Factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in the Companys Securities and Exchange Commission filings.

Glatfelter will hold a conference call today at 10 AM EST to discuss its year-end results. The conference call may be accessed via the Internet at the Companys website at http://www.glatfelter.com or at the CCBN web site at http://www.ccbn.com.

Click Here for Consolidated Financial Information.

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If you would like a copy of the Glatfelter Annual Report:

- You can Email your request by clicking on the email address below
ir@glatfelter.com

- Or, you may write to the address below
Glatfelter
Investor Relations
96 South George Street
Suite 500
York, PA 17401
717-225-4711

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10-K and 10-Q Information

Company's most recent Form 10-K report and Form 10-Q reports to the Securities and Exchange are available by following this link.

A printed copy of the most recent Form 10-K and Form 10-Q reports are available without charge (exclusive of exhibits) to interested shareholders by written request to:

Glatfelter
Investor Relations
96 South George Street
Suite 500
York, PA 17401
717-225-4711

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