MONDI PACKAGING PAPER ŚWIECIE S.A.

Investor and Analyst Presentation 27 November, 2007 Maciej Kunda

PAGE 1

AGENDA

Poland

Company History

Management team

Mill overview

Products

Key financials

Post acquisition highlights

Competitive Advantages MPP Swiecie

Site visit briefing

PAGE 2

POLAND

Area: 312,685 km2

Population: 38.5 million

Main industries: coal, textile, chemical, machinery, iron and steel sectors

Forest land: 28% Germany

Poland

Slovakia

CzechRepublic

Ukraine

Belarus

Lithuania

Świecie

Bydgoszcz

Poznań

Cracow

Warsaw

Mondi Packaging Paper Świecie S.A.

PAGE 3

MACROECONOMIC INDICATORS – POLAND

7,100

3.8

2.2

11.2

6.62007

6,700

3.9

1.3

13.8

6.12006

8,0557,6005,3275,0135,4805,480GDP/Capita (in EUR)

2.82.82.23.60.71.9Inflation (avg in %)4.4

19.6

3.92003

3.9

19.9

1.42002

5.25.33.65.3Real GDP (change in %)

3.73.74.04.5PLN/EUR (avg)

8.49.717.719.0Unemployment rate (in %)

2009200820052004

Direct foreign investment in EUR m

15,061

8,2809,983

4,383 4,313

2007 2008 20102009 20110.0

5.0

10.0

15.0

20.0

25.0

2002 2003 2004 2005 2006 2007 2008 20090 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

GDP/Capita in EUR Real GDP (change in %)Unemployment Rate in % Inflation (avg) in %

PAGE 4

40 YEAR HISTORY

1961

2007

62 63 64 65 66 67 68 69 1970 72 73 74 75 76 77 78 7971 1980 81 82 83 84 85 86 87 88 89 1990 91 92 93 94 95 96 97 98 99 2000 01 02 03 04 05 06 0761

1967

DissolvingPulp Plant

1972

KraftPulpPlant

1976

NSCCPlant

1991

Transformationinto Joined Stock

Company

1992

Restruct-uring

1997

PrivatisationMondi 60%

1970 – 1976Start-up of 5 PMs

1997 – 2003New strategy

implementation

ZCiPCeluloza

PAGE 5

Jan Żukowski

Development andInvestment Director

(55 years of age)

Tomasz Katewicz

Production Director(42 years of age)

Adam Mrzygłód

Financial Director(34 years of age)

Florian Stockert

Sales Director(48 years of age)

OVERVIEW - MANAGEMENT TEAM

CEO(41 years of age)

Maciej Kunda

PAGE 6

2xcontinuous digesters

Kraft pulp373.000 TO

Semichemical pulp plant

NSSC pulp106.000 TO

Recovered paperpreparation plantOCC - 293.000 to;

Mix - 45.000 to

Powerplant

Evaporation plant Causticizing plant

Recovery boiler

Chemical recovery department

Wood handling system

Pine Birch

Operation certified ISO 9001, ISO 14001, OHSAS 18001 and FSC

118.000 to134.000 to 200.000 to 194.000 to174.000 to

4.4 mTestliner

5.3 mSackpaper

Light weightKraftliner

4.4 m Kraftliner

150 – 330 g/m2

5.3 m Light weight

Kraftliner90 – 140 g/m2

4.4 mSc fluting

PM 3PM 1 PM 2 PM 5PM 4

OVERVIEW - STRUCTURE OF THE MIL

PAGE 7

Higher gsm

• Fruits • Vegetables • Meat • Flowers • Heavy duty packaging • Chemicals

• Cement • Premixes • Feed

P&G, Pizza Hut,Kimberly & Clark

• Merchant • Chemicals• Beverages• Furnitures

IKEA, P&G, Kimberley & Clark

Henkel, Pizza Hut,Nestle, Tesco, Carrefour

Lafarge, Bayer

Sack Paper

10%

S.C. Fluting 21%

Testliner16%

Kraftliner53%

• Fruits, vegetables, meat • Heavy duty packaging • Chemicals• ElectronicsLower gsm• Cosmetics, medicines• Internet salesPizza boxes• Industrial • Coating

MARKET SEGMENTATION BY END-USE APPLICATION

PAGE 8

FINANCIAL INDICATORS MPP SWIECIE

Sales (PLN B) / ROCE1

1.301.191.26

0

5

10

15

20

25

30

35

ROCE1

(%)

2004 2005 2006

0.63

2006 HY

0.69

2007 HY0,0

0,5

Sales(PLN B)

Profitability (HY 2007)

PLN 220 M

31.9 %

CapitalEmployed PLN 1 032 M

33.0%

184 M

29.6%

956 M

27.5%

19.6

7.7

7.9

20.1

2007 2006

ROCE1

EBITDA

EBITDAMargin

% change

26.5 20.5 33.2 27.5 33.0

1 Half year ROCE is calculated as underlying profit H1 2007 times 2 divided by average capital employed as of June 30 and December 31

POST ACQUISITION HIGHLIGHTS

PAGE 10

POST ACQUISITION HIGHLIGHTS -TRANSFORMATION OF THE COMPANY

CelulozaŚwiecie

MPPŚwiecie

CapacityUtilization

Value CreationHigh Performance

Performance

Time

Goal

Past

Goal

Now

Process Change

Operational, Financial, HR, Sales,Quality, Environmental,

Safety

PAGE 11

POST ACQUISITION HIGHLIGHTS –MAJOR CAPITAL PROJECTS 1998-2006

Market Development Focus

Promises kept - delivered more

ProactiveInvestmentStrategy

Early action against foreseen trends, developments and changes in business environment (markets, customer needs, changes in operational environment).

2001 Paper Machine #5 Rebuild

2003 Paper Machine #3 Rebuild

2007 Paper Machine #1 Rebuild

Project Targets / Achievements

Focus: Increase of production of lightweight kraftliner grades

Effective production of high quality LW KLB

Production increase +50,000 t / +90,000 t

Focus: Ability to produce 2-layer medium and lightweight recycled containerboard quality

Effective production of 2 layer TL and WBFL

Quality targets 100% met

Focus: Increase of production of lightweight kraftliner grades

Effective production of high quality 2 layer LW KLB

Capacity increase from 130,000 to 180,000 t

PAGE 12

POST ACQUISITION HIGHLIGHTS –MAJOR CAPITAL PROJECTS 1998-2006

Early Action against foreseen changes in operational environment

Promises kept - delivered more

ProactiveInvestmentStrategy

Early action against foreseen trends, developments and changes in business environment (markets, customer needs, changes in operational environment).

2001 New Woodyard

Project Targets / Achievements

Focus: Improvement of wood pulp quality; reduction of wood losses

Wood losses reduction by 70%

High quality of chips and pulp produced

2004 CFB Biofuel BoilerFocus: Energy cost savings / green energy generation

Effective green energy production based on biofuel

Reduction of coal usage by 130,000 tpatogether with substantial reduction of emission

PAGE 13

POST ACQUISITION HIGHLIGHTS –TOTAL PM PRODUCTION 1970 – 2007

824797

760737

690

631603

538

488446435428416

381

316318341

391386380384379362346318

295333

282299307

259251223

171136

81

33

1971 1972 1973 1974 1975 1976 1977 1997 1998 1999 2000 2001 2002 2003 2004 2005 20061987 1988 1989 1990 1991 1992 1993 1994 1995 19961970 1978 1979 1980 1981

+85%

1983 1984 1985 19861982

Mondistart to be majority

shareholder

Production nearly doubled during last 10 years: 1.000 tons

PAGE 14

POST ACQUISITION HIGHLIGHTS –PRODUCTIVITY INCREASE

38 41 49 41 3821-23

13 22 30

506348

799569

628 2421

1,986

1,473 1,3791,176 1,131

1,054 969 913

2,703

3,124

132

652

459

191

409

587

722

823

902

273

0

500

1000

1500

2000

2500

3000

3500

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006-30

70

170

270

370

470

570

670

770

870

970

Productivity increase by 770 tons per capita, compared to 1997

Increase due to bigger production

Increase due to headcount reduction

Employees, average

Total productivity

Employees, average Total productivity in tons

PAGE 15

POST ACQUISITION HIGHLIGHTS –PROGRESS IN SAFETY

Number of Accidents 1997-2006(including sub contractors)

Development of Lost Time InjuryFrequency Rate (LTIFR) 1997 - 2006

* Excluding contractors

1123

43*

1997

37*

1998

31*

1999

18*

2000

21*

2001

9*

2002 2003 2004 2005 2006

1,50 1,50

1,82

1,35 1,43

0,57

0,20 0,14 0,07 0,07

0,0

0,5

1,0

1,5

2,0

2,5

3,0

20042000199919981997 20062005

LTIFR

2001 2002 2003

2006 MondiSafety Award

for Best in ClassLarge Unit

ZerO Tolerance Target ZerOO T T O

PAGE 16

COMPETITIVE ADVANTAGE OF MPPŚWIECIE

Competitive Advantage of MPP Świecie driven by

Clear cost advantage in energy and labor cost

Cost advantage in transportation to European markets

Capability of most effective fibre mix (wood and recovered fibre)

Swiecie is a world class mill in terms of productivity

Swiecie has an excellent track record with all big capex: they were flawlessly executed within time and within budget increasing Company Value

Organization culture managed by objectives, employees creativity

Excellent Technical service

Innovative products

PAGE 17

COST COMPETITIVNESS OF UNBLEACHED KRAFTLINER

0

50

100

150

200

250

300

350

400

450

500

0 500 1.000 1.500 2.000 2.500 3.000 3.500

Delivered coststo Frankfurt

Swiecie PM5

1 Including European supply and imports2 Depreciations + ROCE 10%Source: Pöyry Forest Industry Consulting

Cumulative capacity, k tons p.a.

€/tons Cost level 2006/III

Swiecie PM2

Swiecie PM1

SITE VISIT BRIEFING

PAGE 19

SITE VISIT BRIEFING