Arctic Paper S.A.

Shareholders Meeting 2011

The Oridinary General Shareholders Meeting will be held on May 26, 2011 in Poznań.

1. Announcement on convening the Ordinary General Shareholders Meeting of the Company Arctic Paper S.A. with its registered seat in Poznań.

2. Documentation to be presented to the Ordinary General Shareholders Meeting of the Company

3. TOTAL NUMBER OF SHARES IN ARCTIC PAPER SPÓŁKA AKCYJNA AND TOTAL NUMBER OF RELATED VOTES AS OF THE DATE OF NOTICE CONVENING THE ORDINARY GENERAL ASSEMBLY

As of April 30, 2011, i.e. on the date of convening the Ordinary General Assembly of Arctic Paper Spółka Akcyjna, the total number of shares and related votes is 55.403.500 (fifty five million four hundred three thousand five hundred).

4. Arctic Paper S.A. Capital Group Consolidated Annual Report fot the year 2010.

5. Arctic Paper S.A. financial statement for the year 2010 together with independent auditors' report

6. Management Board Report on the operation of Arctic Paper S.A. to report for 2010

7. Contact: wza@arcticpaper.com