COMPANY PROFILE

Headquartered in Spring Grove, Pennsylvania, the P. H. Glatfelter Company is a manufacturer of printing papers, tobacco papers and other specialty papers. The Company's paper mills are located in Spring Grove, Pennsylvania, Pisgah Forest, North Carolina and Neenah, Wisconsin.

The Company's products are marketed in most parts of the United States and in many foreign countries, either through wholesale paper merchants, brokers, and agents, or direct to customers.

The Spring Grove mill is an integrated paper manufacturing plant, producing a substantial part of its fiber requirements from wood. The Pisgah Forest mill produces flax fiber pulp used to manufacture some of its tobacco industry products and utilizes purchased virgin pulp and recycled pulp to manufacture nearly all of its other papers. The Neenah mill recycles a wide range of wastepaper to provide its principal fiber raw material. All three mills recycle internally generated waste to supply part of the fiber required for operations.

The Glatfelter Pulp Wood Company, a wholly-owned subsidiary, is responsible for woodlands management and for procurement of pulpwood from Company-owned land and from independent sources for use by the Spring Grove mill.

Ecusta Australia Pty. Limited, a wholly-owned subsidiary operating in Sydney, Australia, converts paper for use by the tobacco industry.

Ecusta Fibres Ltd., a wholly-owned subsidiary operating in Manitoba, Canada, buys and processes flax straw, a basic raw material used at Pisgah Forest.