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Verso Paper Corp. Announces Completion of Tender Offer for Certain of its Outstanding Debt

Monday 14. February 2011 - Verso Paper Corp. (NYSE: VRS) announced today the completion of the tender offer (the "Tender Offer") of its subsidiary, Verso Paper Holdings LLC ("Verso Holdings"), to purchase any and all of the outstanding 9?% second priority senior secured fixed rate notes due 2014 (the "Notes") issued by it and Verso Paper Inc.

The Tender Offer expired at 11:59 p.m., New York City time, on February 8, 2011 (the “Expiration Date”). As previously announced, Verso Holdings received tenders from the holders of $310,415,000 aggregate principal amount of the Notes prior to the early tender payment deadline on January 25, 2011, at 5:00 p.m., New York City time (the “Early Tender Date”), which represented approximately 92.1% of the outstanding Notes. On January 26, 2011, Verso Holdings accepted for early payment, and paid for, the Notes tendered prior to the Early Tender Date. After the Early Tender Date and prior to the Expiration Date, Verso Holdings received tenders from the holders of an additional $48,000 aggregate principal amount of the Notes, resulting in total tenders from holders of $310,463,000 aggregate principal amount of the Notes. The tenders for all Notes received by Verso Holdings prior to the Expiration Date represented approximately 92.1% of the outstanding Notes. Verso Holdings expects to accept for payment all of the Notes validly tendered after the Early Tender Date and prior to the Expiration Date on Wednesday, February 9, 2011. Verso Holdings intends to redeem the Notes that remain outstanding after completion of the Tender Offer at the applicable redemption price, plus accrued and unpaid interest.
Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. acted as the Dealer Managers in connection with the Tender Offer for the Notes.