Business News

Boise Inc. Regains Compliance With NYSE Minimum Share Price Requirement

Monday 08. June 2009 - Boise Inc. (NYSE: BZ), a leading manufacturer of packaging products and papers, announced today that it received notice from the New York Stock Exchange (NYSE) that the company's 30-day average share price met the requirements to restore compliance with the $1.00 minimum share price requirement for NYSE continued listing standards. On June 3, Boise Inc.'s common stock closed at $2.47 per share.

“We believe this achievement reflects our solid operating performance, cash flow generation, and increased liquidity in a difficult economic environment,” said Alexander Toeldte, President and Chief Executive Officer of Boise Inc. “We continue to look for ways to improve our operating and financial position to maximize shareholder value.”

Boise Inc. received letters of noncompliance from the NYSE in November 2008, notifying the company it had fallen below both the minimum share price and market capitalization requirements for continued listing on the NYSE. Boise Inc. has not satisfied the minimum market capitalization requirement. To return to compliance for the market capitalization standard, the NYSE requires Boise Inc. to have an average market capitalization above $75 million for two consecutive quarters within 18 months of receiving the notice. As of June 3, the market capitalization of Boise Inc. was $209 million.