ALPHARETTA, Ga., Nov. 11 /PRNewswire-FirstCall/ -- Schweitzer-Mauduit International, Inc. (NYSE: SWM) ("Schweitzer-Mauduit" or "the company") today announced the pricing of an underwritten offering of 1.8 million shares of its common stock, at an offering price of $60.00 per share. The company has granted the underwriters a 30-day option to purchase up to an additional 270,000 shares. Goldman, Sachs & Co. is serving as the sole book-running manager for the offering. Co-managers for the offering include SunTrust Robinson Humphrey Inc., Davenport & Company LLC and Oppenheimer & Co. Inc. The offering is expected to close on November 17, 2009, subject to customary closing conditions.

The company intends to use the net proceeds from the offering for general corporate purposes, including the company's planned funding of the construction and working capital needs of a new Reconstituted Tobacco Leaf (RTL) facility in the Philippines and a potential equity contribution for an RTL joint venture in China. Pending such use, the company intends to reduce outstanding balances under its current revolving credit facility with the net proceeds from the offering.

The shares will be issued pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. A preliminary prospectus supplement related to the offering has been filed with the Securities and Exchange Commission and is available on the SEC's website, http://www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus related to this offering may be obtained from Goldman, Sachs & Co. via telephone: (917) 343-8000; facsimile: (212) 902-9316; email: prospectus-ny@ny.email.gs.com; or standard mail at Goldman, Sachs & Co., Prospectus Department, 85 Broad Street, New York, NY 10004.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Schweitzer-Mauduit

Schweitzer-Mauduit International, Inc. is a diversified producer of premium specialty papers. It also manufactures specialty papers for other applications. Schweitzer-Mauduit and its subsidiaries conduct business in over 90 countries and employ 2,900 people worldwide, with operations in the United States, France, Brazil, the Philippines, Indonesia, Canada and a joint venture in China.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those relating to the offering and whether or not the company will consummate the offering, that are subject to the safe harbor created by that Act. Actual results may differ materially from current expectations based on a number of factors including but not limited to changing market conditions and the company's ability to complete the offering. For additional factors and further discussion of these factors, please see Schweitzer-Mauduit's Quarterly Report on Form 10-Q for the period ended September 30, 2009. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, the company undertakes no obligation to update publicly any forward-looking statements contained herein.

    CONTACT:
    Bill Foust
    +1-770-569-4203
    or
    Pete Thompson
    +1-770-569-4277
    both of Schweitzer-Mauduit International, Inc.

SOURCE Schweitzer-Mauduit International, Inc.

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