Clearwater's transfer agent is BNY Mellon Shareowner Services

You may contact BNY Mellon Shareowner Services at the following:

BNY Mellon Shareowner Services
P.O. Box 358015
Pittsburgh, PA 15252

Or, if via overnight:

BNY Mellon Shareowner Services
480 Washington Boulevard
Jersey City, NJ 07310-1900

tel + 866.205.6799 (between 8:00 am and 7:00 pm Eastern time, Monday - Friday; IVR available 24/7) e-mail: shrrelations@bnymellon.com

Through Investor ServiceDirect®, Shareowner Services' web site, registered shareholders* may also obtain their account information or make changes online at www.bnymellon.com/shareowner/isd

Registered shareholders may make the following transactions online at Investor ServiceDirect®:

• Change of address
• Transfer ownership of stock
• Request account statement
• Online Enrollment for Direct Stock Purchase Program
• Certify Taxpayer ID

* Please note this service is available for registered shareholders only. If you have your holdings in a brokerage account, please contact your broker or investment advisor.

Clearwater Paper's 2-for-1 stock split will be effected by a 100% stock dividend. Each Clearwater Paper stockholder will receive one additional share of stock for each share they owned as of the Record Date (August 12, 2011). For example: as of the Record Date if an investor owns 100 shares of Clearwater Paper stock and the market price is $75 per share, that investor's total investment in Clearwater Paper stock is worth $7,500. After the split the investor will have 200 shares of Clearwater Paper stock, but the market price will be approximately $37.50 per share. The value of the investor's total investment in Clearwater Paper remains the same at $7,500 until the stock price moves up or down.

This stock split will not change the proportionate interest a stockholder maintains in Clearwater Paper.

Individual stockholders should consult with their own tax adviser regarding their own specific tax circumstances. From a U.S. Federal tax standpoint, this is not a taxable event.

Your tax basis or cost will be equally divided among the new shares. For example, if prior to the 2-for-1 stock split an investor had purchased 100 shares of Clearwater Paper stock at $50 per share, following the distribution of the stock dividend, that investor's holdings would become 200 shares with a basis of $25 per share.

For the stock dividend, the Ex-Dividend Date--the day the stock begins trading at the split price--is August 29, 2011.

There are several key dates.

The Record Date – August 12, 2011 – determines which stockholders are entitled to receive additional shares due to the split.

The Payable (distribution) Date – August 26, 2011 – is the date when the stock dividend is payable.

The Ex-Date or Ex-Split Date – August 29, 2011 – is the date Clearwater Paper common stock will begin trading on the New York Stock Exchange at the new split-adjusted price.

Our stock transfer agent, BNY Mellon Shareowner Services, will mail written statements to registered stockholders indicating their split-adjusted shares. If your stock is currently held in a brokerage account, the information will be sent directly to your broker.

If you currently hold stock in your name, you will be notified at the address BNY Mellon Shareowner Services has on file. To verify your address you can call BNY Mellon Shareowner Services directly at (866)-205-6799. Please be prepared to provide your investor ID number which was provided on the statement of ownership you received from BNY Mellon Shareowner Services as evidence of your ownership position in Clearwater Paper. If your stock is currently held in a brokerage account, the information will be sent directly to your broker.

If you have an account under either the Clearwater Paper Salaried 401(k) Plan or the Clearwater Paper Hourly 401(k) Plan (each, the "Plan") with any assets invested in Clearwater Paper Corporation stock, the number of shares in your account under the Plan will be adjusted accordingly. No action on your part is required. Should you, however, have further questions regarding any impact to your account under the Plan, please contact Mercer at (800) 685-6542.

Please submit your question using the form below. * Required fields

Name *
Email *
Subject *
Comments *
Type in number *
	This helps Clearwater Paper Corporation prevent automated submissions.