Catalyst Paper Publishes Notice of Sale and Investor Solicitation Process

RICHMOND, British Columbia, June 1, 2012 /PRNewswire/ --

Catalyst Paper Corporation advises that under order of the Supreme Court of British Columbia authorizing procedures for a sale and investor solicitation process, the following notice was published today in The Globe & Mail and The Wall Street Journal:

     TAKE NOTICE THAT pursuant to certain Court Orders of the Supreme Court of
      British Columbia (the "Court") in respect of Catalyst Paper Corporation
     and related entities (collectively "Catalyst Paper") in the matter of the
      Companies' Creditors Arrangement Act, the Canada Business Corporations
      Act, and the British Columbia Business Corporations Act, Catalyst Paper
        obtained Court approval to conduct a sale and investor solicitation
       process (the "SISP"). Pursuant to the SISP, Catalyst Paper, with the
         assistance of its financial advisor Perella Weinberg Partners LP
        ("Perella"), is soliciting proposals from prospective strategic and
     financial parties to acquire the property, assets and business of, or to
                            invest in, Catalyst Paper.
     Catalyst Paper manufactures diverse specialty mechanical printing papers,
        newsprint and pulp. Its customers include retailers, publishers and
     commercial printers in North America, Latin America, the Pacific Rim and
         Europe. With four mills, located in British Columbia and Arizona,
      Catalyst Paper has a combined annual production capacity of 1.8 million
      tonnes. Catalyst Paper is headquartered in Richmond, British Columbia,
     Canada and is ranked by Corporate Knights magazine as one of the 50 Best
                           Corporate Citizens in Canada.
     The SISP contains certain timelines that are required to be met including
      a requirement that parties who are interested in participating deliver
      certain information and take certain steps no later than June 6, 2012.
       Interested parties should make inquiries as soon as possible and can
                   obtain additional information by contacting:
                          Nancy Turner, Managing Director
                             PERELLA WEINBERG PARTNERS
                         One California Street, Suite 2250
                              San Francisco, CA 94111
                                 Tel: 415-671-4550
                              nturner@pwpartners.com
        The Court appointed PricewaterhouseCoopers Inc. as the Monitor (the
       "Monitor") of Catalyst Paper. A copy of the Court Order approving the
      SISP, as well as a copy of the SISP and related documents, can be found
                  on the Monitor's website at the following link:
                       http://www.pwc.com/car-catalystpaper

For further information:

Investors:
Brian Baarda
Vice President, Finance & CFO
+1-604-247-4710

Alistair MacCallum
Vice President, Treasurer & Corporate Controller
+1-604-247-4037

Media:
Lyn Brown
Vice President, Marketing & Corporate Responsibility
+1-604-247-4713