FOR IMMEDIATE RELEASE
September 07, 2000

Lila White
www.thedigitaldominion.com
(804) 692-3110


Dawn McWalters
DaiEi Papers (USA) Corporation
(973) 952-0400
Jill Lawrence
VEDP
(804) 371-0049
Governor Gilmore Announces 105 New Jobs for Chesapeake
--DaiEi Papers to relocate headquarters and build paper facility- -


Richmond - Governor Jim Gilmore today announced that DaiEi Papers (USA) Corporation will locate a new manufacturing facility in the City of Chesapeake. The company will invest $10.5 million in the new facility while creating up to 105 new jobs. Virginia successfully competed with South Carolina for the investment.

"We are honored that DaiEi is moving its headquarters from New Jersey to Virginia," said Governor Gilmore. "This announcement will help diversify Chesapeake's economic base and create valuable job opportunities for the Hampton Roads region."

DaiEi Papers (USA) Corporation, is a subsidiary of Kokusai Pulp and Paper LTD of Tokyo, Japan. Kokusai Pulp and Paper's global annual sales turnover was $3.7 billion in 1999. DaiEi Papers is a worldwide distributor and converter of paper products with 29 offices worldwide located in 17 countries. The facility will be the company's first location in Virginia. In addition, 100 percent of DaiEi Papers (USA) Corp.'s products will be exported from the Port of Virginia.

Michael McCann, President of DaiEi Papers (USA) Corp. stated, "The Commonwealth of Virginia, the Chesapeake Economic Development Department, the Hampton Roads Economic Development Alliance, and the fine facilities available for global trade provided by the Virginia Port Authority were major factors in our decision to locate our new facility in Chesapeake. The evidence of a desire to work with our company, our strategic partners and the employees that we are relocating from New Jersey all contributed to the fact that Chesapeake offers not only the requirements for this facility but ensures a solid foundation for our long term growth requirements. The available infrastructure with road and rail ensured efficiencies in operational expenses that could not be matched in other locations, and we look forward to participating in the development of a fine location."

"The City of Chesapeake is extremely fortunate to have this commitment from DaiEi Papers," said Virginia Secretary of Commerce and Trade Barry E. DuVal. "This announcement comes only three weeks before Virginia hosts the 25th Annual Southeast U.S.-Japan Conference in Norfolk. The Commonwealth is committed to furthering its economic ties with Japan."

"DaiEi's commitment to Chesapeake underscores the critical linkage between Virginia's transportation infrastructure and The Port of Virginia to the economic development process in the Commonwealth. We are pleased that the company has elected to solidify its U.S. business operations in Virginia and capitalize upon the many advantages available in Virginia to companies engaged in international trade." said Virginia Secretary of Transportation Shirley Ybarra.

Governor Gilmore approved a $200,000 grant from the Governor's Opportunity Fund to assist the City of Chesapeake with site preparation. The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Chesapeake assisted DaiEi Papers with its decision. The Virginia Department of Business Assistance will provide workforce training services.

"DaiEi Papers is a dynamic and prominent player in the international paper industry. The decision by DaiEi Papers (USA) to move their corporate headquarters to Chesapeake is an important event for the City, as they become the fourteenth Japanese company to establish a business presence here," said Chesapeake Mayor Dr. William E. Ward.

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